Brandywine Realty Trust (BDN) Financials

$4.08 -0.07 (-1.57%)

As of 01:58 PM Eastern

Annual Income Statements for Brandywine Realty Trust

This table shows Brandywine Realty Trust's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	-197	-197	53
Consolidated Net Income / (Loss)	-196	-197	54
Net Income / (Loss) Continuing Operations	-196	-197	54
Total Pre-Tax Income	-196	-197	54
Total Operating Income	55	-22	120
Total Gross Profit	506	515	506
Total Revenue	506	515	506
Operating Revenue	506	515	506
Total Cost of Revenue	0.00	0.00	0.00
Total Operating Expenses	453	536	412
Selling, General & Admin Expense	43	35	35
Depreciation Expense	178	189	178
Other Operating Expenses / (Income)	187	190	194
Impairment Charge	45	132	4.66
Total Other Income / (Expense), net	-249	-177	-40
Interest Expense	115	95	69
Interest & Investment Income	-188	-78	-20
Other Income / (Expense), net	54	-4.37	49
Income Tax Expense	0.01	0.07	0.06
Net Income / (Loss) Attributable to Noncontrolling Interest	0.60	-0.05	0.62
Basic Earnings per Share	($1.14)	($1.15)	$0.31
Weighted Average Basic Shares Outstanding	172.53M	171.96M	171.49M
Diluted Earnings per Share	($1.14)	($1.15)	$0.31
Weighted Average Diluted Shares Outstanding	172.53M	171.96M	172.33M
Weighted Average Basic & Diluted Shares Outstanding	173.07M	172.24M	171.73M
Cash Dividends to Common per Share	$0.60	$0.72	$0.76

This table shows Brandywine Realty Trust's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-27	-45	-165	30	-17	-157	-22	-13	-5.33	30	13
Consolidated Net Income / (Loss)	-27	-45	-166	30	-16	-158	-22	-13	-5.28	30	13
Net Income / (Loss) Continuing Operations	-27	-45	-166	30	-16	-158	-22	-13	-5.28	30	13
Total Pre-Tax Income	-27	-45	-166	30	-16	-158	-22	-13	-5.25	30	13
Total Operating Income	15	22	-9.46	19	23	-79	14	19	24	30	37
Total Gross Profit	122	185	100	94	126	193	98	94	129	194	126
Total Revenue	122	122	132	125	126	130	129	126	129	129	126
Operating Revenue	122	122	132	125	126	130	129	126	129	129	126
Total Cost of Revenue	0.00	-63	32	31	0.00	-63	31	32	0.00	-65	0.00
Total Operating Expenses	106	166	109	75	104	272	84	75	105	190	89
Selling, General & Admin Expense	17	10	13	8.94	11	7.95	8.07	9.36	9.48	9.11	7.56
Depreciation Expense	44	45	44	44	45	47	49	47	46	45	45
Other Operating Expenses / (Income)	48	111	14	15	47	110	15	14	51	114	47
Other Special Charges / (Income)	-3.06	-	0.00	0.00	0.00	-8.17	0.00	0.00	-0.78	-	-12
Total Other Income / (Expense), net	-42	-64	-156	11	-39	-80	-36	-32	-29	26	-24
Interest Expense	32	31	31	29	25	25	24	24	23	20	17
Interest & Investment Income	-9.14	-91	-124	41	-13	-55	-10	-6.90	-5.66	-5.69	-5.76
Other Income / (Expense), net	-1.23	58	-1.25	-1.42	-1.09	-1.12	-1.11	-1.11	-1.03	52	-0.75
Income Tax Expense	0.00	0.00	0.00	0.01	0.00	0.04	-0.00	0.01	0.03	-0.01	-0.01
Net Income / (Loss) Attributable to Noncontrolling Interest	0.35	0.16	-0.22	0.37	0.29	-0.34	0.08	0.16	0.05	0.21	0.14
Basic Earnings per Share	($0.16)	($0.25)	($0.96)	$0.17	($0.10)	($0.91)	($0.13)	($0.08)	($0.03)	$0.17	$0.08
Weighted Average Basic Shares Outstanding	172.92M	172.53M	172.67M	172.56M	172.21M	171.96M	172.10M	171.96M	171.67M	171.49M	171.57M
Diluted Earnings per Share	($0.16)	($0.25)	($0.96)	$0.17	($0.10)	($0.91)	($0.13)	($0.08)	($0.03)	$0.17	$0.08
Weighted Average Diluted Shares Outstanding	172.92M	172.53M	172.67M	174.70M	172.21M	171.96M	172.10M	171.96M	171.67M	172.33M	172.15M
Weighted Average Basic & Diluted Shares Outstanding	172.95M	173.07M	172.67M	172.67M	172.27M	172.24M	172.10M	172.10M	171.91M	171.73M	171.57M

This table details how cash moves in and out of Brandywine Realty Trust's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	29	49	-9.91
Net Cash From Operating Activities	181	177	209
Net Cash From Continuing Operating Activities	181	177	209
Net Income / (Loss) Continuing Operations	-196	-197	54
Consolidated Net Income / (Loss)	-196	-197	54
Depreciation Expense	178	189	178
Amortization Expense	1.66	2.06	-4.74
Non-Cash Adjustments To Reconcile Net Income	188	202	-28
Changes in Operating Assets and Liabilities, net	9.86	-18	9.68
Net Cash From Investing Activities	-120	-175	-191
Net Cash From Continuing Investing Activities	-120	-175	-191
Purchase of Property, Plant & Equipment	-91	-117	-177
Acquisitions	-194	-86	-47
Sale of Property, Plant & Equipment	156	77	64
Sale and/or Maturity of Investments	57	3.79	91
Other Investing Activities, net	-47	-53	-121
Net Cash From Financing Activities	-32	47	-29
Net Cash From Continuing Financing Activities	-32	47	-29
Repayment of Debt	-546	-358	-719
Payment of Dividends	-105	-125	-131
Issuance of Debt	620	530	828
Other Financing Activities, net	-1.03	-0.38	-6.95
Cash Interest Paid	132	108	86
Cash Income Taxes Paid	0.57	0.55	0.90

This table details how cash moves in and out of Brandywine Realty Trust's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-65	53	6.18	-15	-16	8.92	16	-70	95	-14	2.32
Net Cash From Operating Activities	6.32	57	52	48	24	66	50	56	5.38	61	70
Net Cash From Continuing Operating Activities	6.32	57	52	48	24	66	50	56	5.38	61	70
Net Income / (Loss) Continuing Operations	-27	-45	-166	30	-16	-158	-22	-13	-5.28	30	13
Consolidated Net Income / (Loss)	-27	-45	-166	30	-16	-158	-22	-13	-5.28	30	13
Depreciation Expense	44	45	44	44	45	47	49	47	46	45	45
Amortization Expense	1.14	1.15	1.14	-1.23	0.60	0.57	0.62	0.47	0.39	-3.35	-0.27
Non-Cash Adjustments To Reconcile Net Income	20	37	169	-33	15	160	23	13	6.18	-25	-8.06
Changes in Operating Assets and Liabilities, net	-32	19	3.43	8.17	-20	16	-0.67	8.11	-42	14	19
Net Cash From Investing Activities	-45	73	-39	-99	-55	-35	-1.59	-93	-45	65	-67
Net Cash From Continuing Investing Activities	-45	73	-39	-99	-55	-35	-1.59	-93	-45	65	-67
Purchase of Property, Plant & Equipment	-26	-27	-27	-17	-20	-40	-18	-32	-28	-32	-142
Acquisitions	-7.66	-50	-46	-71	-27	-13	-12	-50	-11	-3.75	-16
Sale and/or Maturity of Investments	0.04	53	0.01	-	3.93	1.09	0.45	1.95	0.30	82	3.21
Other Investing Activities, net	-11	-13	-12	-10	-12	-9.00	-23	-14	-6.95	-11	87
Net Cash From Financing Activities	-26	-76	-7.12	36	15	-21	-33	-33	134	-140	-0.81
Net Cash From Continuing Financing Activities	-26	-76	-7.12	36	15	-21	-33	-33	134	-140	-0.81
Repayment of Debt	-75	-110	-54	-382	-0.20	-39	-36	-21	-262	-675	-32
Payment of Dividends	-26	-26	-26	-26	-26	-26	-33	-33	-33	-33	-33
Issuance of Debt	76	60	73	445	42	43	36	21	430	568	64
Other Financing Activities, net	-0.78	-	-	-0.43	-0.59	0.58	-	-0.30	-0.65	-	-0.01
Cash Interest Paid	25	46	26	37	23	35	23	33	17	38	9.75

This table presents Brandywine Realty Trust's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	3,492	3,732	3,875
Total Current Assets	131	98	64
Cash & Equivalents	90	58	18
Accounts Receivable	13	12	11
Prepaid Expenses	28	28	36
Plant, Property, & Equipment, net	2,203	2,410	2,554
Plant, Property & Equipment, gross	3,375	3,542	3,617
Accumulated Depreciation	1,172	1,132	1,063
Total Noncurrent Assets	1,159	1,224	1,256
Long-Term Investments	570	601	568
Intangible Assets	5.51	7.69	18
Other Noncurrent Operating Assets	583	615	670
Total Liabilities & Shareholders' Equity	3,492	3,732	3,875
Total Liabilities	2,448	2,408	2,241
Total Current Liabilities	191	174	190
Accounts Payable	130	124	132
Dividends Payable	26	26	33
Other Current Liabilities	35	24	25
Total Noncurrent Liabilities	2,256	2,234	2,051
Long-Term Debt	2,213	2,139	1,965
Capital Lease Obligations	24	23	23
Other Noncurrent Operating Liabilities	20	72	63
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,045	1,324	1,633
Total Preferred & Common Equity	1,039	1,317	1,626
Total Common Equity	1,039	1,317	1,626
Common Stock	3,184	3,166	3,155
Retained Earnings	783	979	1,176
Accumulated Other Comprehensive Income / (Loss)	2.52	-0.67	3.90
Other Equity Adjustments	-2,932	-2,827	-2,709
Noncontrolling Interest	5.95	6.77	7.70

This table presents Brandywine Realty Trust's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	3,424	3,600	3,754	3,737	3,923	3,954	3,987	3,974
Total Current Assets	71	73	69	83	99	72	138	78
Cash & Equivalents	29	36	30	43	48	32	97	31
Accounts Receivable	14	8.67	11	12	23	12	13	11
Prepaid Expenses	28	28	28	28	28	28	28	36
Plant, Property, & Equipment, net	2,205	2,253	2,354	2,386	2,542	2,472	2,536	2,552
Plant, Property & Equipment, gross	3,405	3,410	3,547	3,550	3,695	3,597	3,632	3,587
Accumulated Depreciation	1,200	1,157	1,192	1,164	1,153	1,125	1,096	1,035
Total Noncurrent Assets	1,148	1,274	1,331	1,268	1,282	1,411	1,313	1,344
Long-Term Investments	570	603	680	618	638	631	584	579
Intangible Assets	5.03	6.25	6.67	7.11	8.54	12	16	20
Other Noncurrent Operating Assets	573	665	644	643	636	716	712	724
Total Liabilities & Shareholders' Equity	3,424	3,600	3,754	3,737	3,923	3,954	3,987	3,974
Total Liabilities	2,424	2,495	2,455	2,445	2,408	2,398	2,394	2,339
Total Current Liabilities	166	185	168	166	182	176	171	182
Accounts Payable	118	137	116	114	133	117	114	126
Dividends Payable	26	26	26	26	26	33	33	33
Other Current Liabilities	21	21	26	25	23	25	24	23
Total Noncurrent Liabilities	2,258	2,310	2,287	2,279	2,226	2,222	2,223	2,158
Long-Term Debt	2,215	2,262	2,242	2,181	2,134	2,134	2,133	2,075
Capital Lease Obligations	24	24	23	23	23	23	23	23
Other Noncurrent Operating Liabilities	20	24	22	74	69	65	66	60
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	999	1,105	1,299	1,292	1,514	1,557	1,593	1,635
Total Preferred & Common Equity	994	1,099	1,293	1,286	1,507	1,549	1,586	1,627
Total Common Equity	994	1,099	1,293	1,286	1,507	1,549	1,586	1,627
Common Stock	3,195	3,180	3,173	3,170	3,163	3,161	3,158	3,153
Retained Earnings	757	828	993	963	1,137	1,158	1,171	1,147
Accumulated Other Comprehensive Income / (Loss)	-0.02	-3.77	6.12	5.34	8.13	5.22	-1.41	4.53
Other Equity Adjustments	-2,958	-2,906	-2,879	-2,853	-2,801	-2,775	-2,742	-2,677
Noncontrolling Interest	5.81	6.13	6.71	6.69	7.34	7.33	7.61	7.69

This table displays calculated financial ratios and metrics derived from Brandywine Realty Trust's official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	-1.77%	1.69%	3.96%
EBITDA Growth	75.10%	-51.82%	29.62%
EBIT Growth	519.76%	-115.35%	86.87%
NOPAT Growth	354.30%	-112.63%	28.69%
Net Income Growth	0.46%	-465.62%	336.62%
EPS Growth	0.87%	-470.97%	342.86%
Operating Cash Flow Growth	2.17%	-15.30%	9.66%
Free Cash Flow Firm Growth	21.63%	41.96%	-22.08%
Invested Capital Growth	-7.23%	-7.05%	-0.72%
Revenue Q/Q Growth	-1.61%	0.23%	0.69%
EBITDA Q/Q Growth	120.54%	-38.41%	20.24%
EBIT Q/Q Growth	314.30%	-131.32%	57.10%
NOPAT Q/Q Growth	219.41%	-124.82%	5.58%
Net Income Q/Q Growth	36.54%	-1,896.59%	87.26%
EPS Q/Q Growth	36.67%	-1,542.86%	93.75%
Operating Cash Flow Q/Q Growth	-4.71%	2.74%	5.54%
Free Cash Flow Firm Q/Q Growth	20.56%	9.29%	108.47%
Invested Capital Q/Q Growth	-4.70%	-5.29%	-2.11%
Profitability Metrics	-	-	-
Gross Margin	100.00%	100.00%	100.00%
EBITDA Margin	57.12%	32.04%	67.63%
Operating Margin	10.86%	-4.19%	23.66%
EBIT Margin	21.55%	-5.04%	33.40%
Profit (Net Income) Margin	-38.87%	-38.36%	10.67%
Tax Burden Percent	100.01%	100.04%	99.90%
Interest Burden Percent	-180.37%	760.43%	31.97%
Effective Tax Rate	0.00%	0.00%	0.10%
Return on Invested Capital (ROIC)	1.40%	-0.51%	3.88%
ROIC Less NNEP Spread (ROIC-NNEP)	-13.61%	-12.81%	-0.76%
Return on Net Nonoperating Assets (RNNOA)	-17.99%	-12.84%	-0.64%
Return on Equity (ROE)	-16.59%	-13.35%	3.24%
Cash Return on Invested Capital (CROIC)	8.90%	6.80%	4.60%
Operating Return on Assets (OROA)	3.02%	-0.68%	4.38%
Return on Assets (ROA)	-5.44%	-5.19%	1.40%
Return on Common Equity (ROCE)	-16.50%	-13.28%	3.22%
Return on Equity Simple (ROE_SIMPLE)	-18.92%	-14.98%	3.32%
Net Operating Profit after Tax (NOPAT)	38	-15	120
NOPAT Margin	7.60%	-2.94%	23.63%
Net Nonoperating Expense Percent (NNEP)	15.01%	12.30%	4.64%
Return On Investment Capital (ROIC_SIMPLE)	1.17%	-0.43%	3.30%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	8.46%	6.77%	6.92%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	89.60%	104.19%	81.42%
Earnings before Interest and Taxes (EBIT)	109	-26	169
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	289	165	342
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	0.91	0.61	0.48
Price to Tangible Book Value (P/TBV)	0.91	0.61	0.49
Price to Revenue (P/Rev)	1.86	1.55	1.55
Price to Earnings (P/E)	0.00	0.00	14.69
Dividend Yield	13.78%	15.49%	16.63%
Earnings Yield	0.00%	0.00%	6.81%
Enterprise Value to Invested Capital (EV/IC)	0.95	0.81	0.72
Enterprise Value to Revenue (EV/Rev)	4.99	4.49	4.34
Enterprise Value to EBITDA (EV/EBITDA)	8.73	14.00	6.41
Enterprise Value to EBIT (EV/EBIT)	23.15	0.00	12.98
Enterprise Value to NOPAT (EV/NOPAT)	65.64	0.00	18.35
Enterprise Value to Operating Cash Flow (EV/OCF)	13.92	13.03	10.49
Enterprise Value to Free Cash Flow (EV/FCFF)	10.30	11.48	15.48
Leverage & Solvency	-	-	-
Debt to Equity	2.14	1.63	1.22
Long-Term Debt to Equity	2.14	1.63	1.22
Financial Leverage	1.32	1.00	0.85
Leverage Ratio	3.05	2.57	2.32
Compound Leverage Factor	-5.50	19.56	0.74
Debt to Total Capital	68.16%	62.02%	54.90%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	68.16%	62.02%	54.90%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.18%	0.19%	0.21%
Common Equity to Total Capital	31.66%	37.79%	44.89%
Debt to EBITDA	7.74	13.11	5.81
Net Debt to EBITDA	5.46	9.11	4.10
Long-Term Debt to EBITDA	7.74	13.11	5.81
Debt to NOPAT	58.21	-143.13	16.62
Net Debt to NOPAT	41.02	-99.47	11.73
Long-Term Debt to NOPAT	58.21	-143.13	16.62
Altman Z-Score	0.77	0.66	0.87
Noncontrolling Interest Sharing Ratio	0.54%	0.49%	0.56%
Liquidity Ratios	-	-	-
Current Ratio	0.68	0.56	0.34
Quick Ratio	0.54	0.40	0.15
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	245	201	142
Operating Cash Flow to CapEx	0.00%	444.67%	184.85%
Free Cash Flow to Firm to Interest Expense	2.12	2.11	2.05
Operating Cash Flow to Interest Expense	1.57	1.86	3.02
Operating Cash Flow Less CapEx to Interest Expense	2.13	1.44	1.39
Efficiency Ratios	-	-	-
Asset Turnover	0.14	0.14	0.13
Accounts Receivable Turnover	40.97	44.79	44.24
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	0.22	0.21	0.20
Accounts Payable Turnover	0.00	0.00	0.00
Days Sales Outstanding (DSO)	8.91	8.15	8.25
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	8.91	8.15	8.25
Capital & Investment Metrics	-	-	-
Invested Capital	2,647	2,853	3,069
Invested Capital Turnover	0.18	0.17	0.16
Increase / (Decrease) in Invested Capital	-206	-216	-22
Enterprise Value (EV)	2,522	2,309	2,195
Market Capitalization	940	800	784
Book Value per Share	$6.02	$7.65	$9.48
Tangible Book Value per Share	$5.98	$7.61	$9.37
Total Capital	3,281	3,486	3,622
Total Debt	2,236	2,162	1,988
Total Long-Term Debt	2,236	2,162	1,988
Net Debt	1,576	1,503	1,403
Capital Expenditures (CapEx)	-65	40	113
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-151	-134	-144
Debt-free Net Working Capital (DFNWC)	-61	-76	-126
Net Working Capital (NWC)	-61	-76	-126
Net Nonoperating Expense (NNE)	235	182	66
Net Nonoperating Obligations (NNO)	1,602	1,529	1,436
Total Depreciation and Amortization (D&A)	180	191	173
Debt-free, Cash-free Net Working Capital to Revenue	-29.86%	-26.11%	-28.40%
Debt-free Net Working Capital to Revenue	-12.01%	-14.77%	-24.93%
Net Working Capital to Revenue	-12.01%	-14.77%	-24.93%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($1.14)	($1.15)	$0.31
Adjusted Weighted Average Basic Shares Outstanding	172.53M	171.96M	171.49M
Adjusted Diluted Earnings per Share	($1.14)	($1.15)	$0.31
Adjusted Weighted Average Diluted Shares Outstanding	172.53M	171.96M	172.33M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	173.07M	172.24M	171.73M
Normalized Net Operating Profit after Tax (NOPAT)	70	71	124
Normalized NOPAT Margin	13.78%	13.74%	24.55%
Pre Tax Income Margin	-38.87%	-38.34%	10.68%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.94	-0.27	2.44
NOPAT to Interest Expense	0.33	-0.16	1.73
EBIT Less CapEx to Interest Expense	1.50	-0.69	0.81
NOPAT Less CapEx to Interest Expense	0.89	-0.58	0.09
Payout Ratios	-	-	-
Dividend Payout Ratio	-53.33%	-63.13%	242.95%
Augmented Payout Ratio	-53.33%	-63.13%	242.95%

This table displays calculated financial ratios and metrics derived from Brandywine Realty Trust's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.93%	-6.35%	1.86%	-0.43%	-2.12%	0.92%	3.03%	1.48%	1.35%	2.75%	4.28%
EBITDA Growth	-11.89%	488.72%	-44.64%	-6.69%	-2.30%	-126.27%	-22.69%	-5.31%	-0.09%	88.21%	22.47%
EBIT Growth	-36.11%	199.65%	-181.34%	1.23%	-5.34%	-198.56%	-63.73%	-30.23%	-11.27%	311.12%	88.77%
NOPAT Growth	-33.86%	127.80%	-166.28%	46.74%	-4.84%	-286.43%	-73.04%	-49.17%	-36.57%	26.45%	97.21%
Net Income Growth	-64.83%	71.72%	-665.95%	337.63%	-211.11%	-630.05%	-260.53%	-373.86%	-186.48%	546.58%	1,283.78%
EPS Growth	-60.00%	72.53%	-638.46%	312.50%	-233.33%	-635.29%	-262.50%	-366.67%	-200.00%	750.00%	700.00%
Operating Cash Flow Growth	-73.48%	-13.58%	4.25%	-13.89%	343.00%	7.72%	-28.09%	11.91%	-81.15%	21.91%	13.11%
Free Cash Flow Firm Growth	-18.61%	37.61%	71.53%	-75.59%	138.34%	211.25%	107.62%	227.09%	512.21%	-53.95%	-189.35%
Invested Capital Growth	-6.91%	-7.23%	-7.81%	-5.02%	-7.74%	-7.05%	-3.93%	-18.55%	-2.84%	-0.72%	132.42%
Revenue Q/Q Growth	-0.32%	-7.50%	5.13%	-0.90%	-2.83%	0.62%	2.77%	-2.59%	0.19%	2.72%	1.23%
EBITDA Q/Q Growth	-52.66%	261.38%	-43.07%	-9.56%	308.93%	-151.47%	-4.05%	-5.31%	-2.10%	51.48%	17.52%
EBIT Q/Q Growth	-82.53%	844.80%	-159.27%	-17.27%	127.29%	-707.95%	-26.23%	-22.64%	-19.87%	123.70%	41.92%
NOPAT Q/Q Growth	-30.89%	331.93%	-134.01%	21.34%	129.05%	-652.83%	-24.71%	-21.32%	-43.08%	-20.07%	41.96%
Net Income Q/Q Growth	39.36%	73.08%	-647.53%	284.40%	89.60%	-629.13%	-69.87%	-141.41%	-117.73%	120.82%	189.79%
EPS Q/Q Growth	36.00%	73.96%	-664.71%	270.00%	89.01%	-600.00%	-62.50%	-166.67%	-117.65%	112.50%	166.67%
Operating Cash Flow Q/Q Growth	-88.91%	8.98%	8.46%	102.26%	-63.85%	31.47%	-10.42%	940.54%	-91.21%	-12.23%	39.39%
Free Cash Flow Firm Q/Q Growth	-6.01%	-3.01%	33.03%	-32.89%	58.91%	20.90%	-81.07%	555.23%	107.51%	102.96%	-215.93%
Invested Capital Q/Q Growth	0.67%	-4.70%	-3.58%	0.64%	0.32%	-5.29%	-0.67%	-2.24%	1.07%	-2.11%	-15.78%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	151.89%	75.79%	74.99%	100.00%	148.41%	75.94%	74.67%	100.00%	150.13%	100.00%
EBITDA Margin	48.90%	102.97%	26.36%	48.68%	53.34%	-24.81%	48.50%	51.95%	53.44%	95.32%	64.63%
Operating Margin	12.48%	18.00%	-7.18%	15.54%	18.12%	-60.61%	11.03%	15.06%	18.64%	22.96%	29.50%
EBIT Margin	11.46%	65.41%	-8.12%	14.41%	17.26%	-61.47%	10.17%	14.17%	17.85%	62.94%	28.90%
Profit (Net Income) Margin	-22.27%	-36.60%	-125.75%	24.15%	-12.98%	-121.19%	-16.72%	-10.12%	-4.08%	23.07%	10.73%
Tax Burden Percent	100.00%	100.01%	100.00%	99.97%	100.01%	100.02%	99.99%	100.10%	100.48%	100.04%	100.07%
Interest Burden Percent	-194.21%	-55.95%	1,547.92%	167.62%	-75.17%	197.10%	-164.41%	-71.31%	-22.77%	36.65%	37.11%
Effective Tax Rate	0.00%	0.00%	0.00%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	-0.04%	-0.07%
Return on Invested Capital (ROIC)	1.58%	2.32%	-0.89%	2.69%	2.18%	-7.37%	1.29%	1.59%	2.11%	3.77%	6.62%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.75%	-1.52%	-10.93%	3.39%	0.07%	-14.29%	-0.82%	0.12%	0.64%	3.78%	2.38%
Return on Net Nonoperating Assets (RNNOA)	-1.05%	-2.00%	-13.23%	3.63%	0.07%	-14.33%	-0.78%	0.14%	0.59%	3.21%	0.79%
Return on Equity (ROE)	0.53%	0.31%	-14.12%	6.32%	2.25%	-21.70%	0.51%	1.73%	2.70%	6.98%	7.40%
Cash Return on Invested Capital (CROIC)	8.35%	8.90%	7.01%	4.63%	7.51%	6.80%	5.99%	23.69%	6.59%	4.60%	-74.62%
Operating Return on Assets (OROA)	1.60%	9.15%	-1.11%	1.91%	2.29%	-8.32%	1.32%	1.82%	2.29%	8.25%	3.72%
Return on Assets (ROA)	-3.11%	-5.12%	-17.18%	3.20%	-1.72%	-16.40%	-2.17%	-1.30%	-0.52%	3.03%	1.38%
Return on Common Equity (ROCE)	0.52%	0.31%	-14.05%	6.29%	2.24%	-21.59%	0.51%	1.72%	2.69%	6.94%	11.11%
Return on Equity Simple (ROE_SIMPLE)	-20.85%	0.00%	-28.18%	-12.81%	-16.22%	0.00%	-0.66%	1.63%	2.69%	0.00%	1.77%
Net Operating Profit after Tax (NOPAT)	11	15	-6.62	19	16	-55	9.99	13	17	30	37
NOPAT Margin	8.73%	12.60%	-5.02%	15.53%	12.69%	-42.43%	7.72%	10.54%	13.05%	22.97%	29.52%
Net Nonoperating Expense Percent (NNEP)	2.33%	3.83%	10.04%	-0.71%	2.11%	6.92%	2.11%	1.47%	1.46%	-0.01%	4.24%
Return On Investment Capital (ROIC_SIMPLE)	0.33%	0.47%	-	-	-	-1.58%	-	-	-	0.82%	-
Cost of Revenue to Revenue	0.00%	-51.89%	24.21%	25.01%	0.00%	-48.41%	24.06%	25.33%	0.00%	-50.13%	0.00%
SG&A Expenses to Revenue	14.38%	8.25%	9.62%	7.13%	8.78%	6.11%	6.24%	7.44%	7.34%	7.07%	6.02%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	87.52%	135.78%	82.97%	59.45%	81.88%	209.02%	64.91%	59.61%	81.36%	147.08%	70.50%
Earnings before Interest and Taxes (EBIT)	14	80	-11	18	22	-80	13	18	23	81	36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	59	126	35	61	67	-32	63	65	69	123	81
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.75	0.91	0.83	0.58	0.60	0.61	0.44	0.44	0.41	0.48	0.54
Price to Tangible Book Value (P/TBV)	0.75	0.91	0.84	0.58	0.60	0.61	0.45	0.44	0.42	0.49	0.55
Price to Revenue (P/Rev)	1.49	1.86	1.78	1.46	1.51	1.55	1.30	1.32	1.29	1.55	1.76
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	27.38	15.62	14.69	31.28
Dividend Yield	17.40%	13.78%	14.16%	14.78%	15.15%	15.49%	19.58%	19.36%	19.85%	16.63%	14.73%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.65%	6.40%	6.81%	3.20%
Enterprise Value to Invested Capital (EV/IC)	0.90	0.95	0.92	0.80	0.81	0.81	0.71	0.72	0.69	0.72	0.76
Enterprise Value to Revenue (EV/Rev)	4.78	4.99	5.00	4.51	4.54	4.49	4.18	4.27	4.22	4.34	4.73
Enterprise Value to EBITDA (EV/EBITDA)	8.51	8.73	19.60	14.52	14.22	14.00	8.02	7.61	7.39	6.41	8.36
Enterprise Value to EBIT (EV/EBIT)	23.65	23.15	0.00	0.00	0.00	0.00	25.92	20.54	18.83	12.98	22.12
Enterprise Value to NOPAT (EV/NOPAT)	72.47	65.64	0.00	0.00	0.00	0.00	35.29	19.86	18.30	18.35	21.01
Enterprise Value to Operating Cash Flow (EV/OCF)	14.61	13.92	13.50	12.28	11.87	13.03	12.44	11.33	11.50	10.49	12.00
Enterprise Value to Free Cash Flow (EV/FCFF)	10.36	10.30	12.64	16.87	10.37	11.48	11.66	2.72	10.32	15.48	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.24	2.14	2.07	1.74	1.71	1.63	1.42	1.39	1.35	1.22	1.28
Long-Term Debt to Equity	2.24	2.14	2.07	1.74	1.71	1.63	1.42	1.39	1.35	1.22	1.28
Financial Leverage	1.41	1.32	1.21	1.07	1.07	1.00	0.95	1.11	0.93	0.85	0.33
Leverage Ratio	3.12	3.05	2.87	2.70	2.68	2.57	2.51	2.47	2.42	2.32	2.31
Compound Leverage Factor	-6.07	-1.71	44.46	4.52	-2.01	5.07	-4.12	-1.76	-0.55	0.85	0.86
Debt to Total Capital	69.13%	68.16%	67.41%	63.55%	63.05%	62.02%	58.76%	58.08%	57.51%	54.90%	56.20%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	69.13%	68.16%	67.41%	63.55%	63.05%	62.02%	58.76%	58.08%	57.51%	54.90%	56.20%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.18%	0.18%	0.18%	0.19%	0.19%	0.19%	0.20%	0.20%	0.20%	0.21%	0.21%
Common Equity to Total Capital	30.69%	31.66%	32.41%	36.27%	36.76%	37.79%	41.04%	41.72%	42.29%	44.89%	43.59%
Debt to EBITDA	7.97	7.74	17.45	14.25	13.50	13.11	8.06	7.54	7.44	5.81	7.37
Net Debt to EBITDA	5.84	5.46	12.57	9.78	9.45	9.11	5.50	5.22	5.09	4.10	5.22
Long-Term Debt to EBITDA	7.97	7.74	17.45	14.25	13.50	13.11	8.06	7.54	7.44	5.81	7.37
Debt to NOPAT	67.86	58.21	-71.04	-145.58	-138.45	-143.13	35.46	19.68	18.44	16.62	18.52
Net Debt to NOPAT	49.67	41.02	-51.17	-99.91	-96.93	-99.47	24.19	13.63	12.62	11.73	13.13
Long-Term Debt to NOPAT	67.86	58.21	-71.04	-145.58	-138.45	-143.13	35.46	19.68	18.44	16.62	18.52
Altman Z-Score	0.62	0.74	0.64	0.67	0.68	0.61	0.69	0.69	0.71	0.80	0.76
Noncontrolling Interest Sharing Ratio	0.55%	0.54%	0.51%	0.49%	0.50%	0.49%	0.48%	0.47%	0.47%	0.56%	-50.10%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.43	0.68	0.39	0.41	0.50	0.56	0.54	0.41	0.81	0.34	0.43
Quick Ratio	0.26	0.54	0.24	0.25	0.33	0.40	0.39	0.25	0.64	0.15	0.23
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	208	222	229	172	256	161	133	704	107	52	-1,749
Operating Cash Flow to CapEx	24.42%	0.00%	195.76%	277.37%	119.55%	459.33%	285.43%	177.51%	19.37%	1,982.65%	49.46%
Free Cash Flow to Firm to Interest Expense	6.54	7.10	7.48	6.02	10.22	6.54	5.47	29.73	4.74	2.58	-102.53
Operating Cash Flow to Interest Expense	0.20	1.82	1.71	1.69	0.95	2.67	2.06	2.36	0.24	3.05	4.08
Operating Cash Flow Less CapEx to Interest Expense	-0.61	4.50	0.84	1.08	0.16	2.09	1.34	1.03	-0.99	2.90	-4.17
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.14	0.14	0.14	0.13	0.13	0.14	0.13	0.13	0.13	0.13	0.13
Accounts Receivable Turnover	39.72	40.97	32.31	45.41	40.83	44.79	29.74	40.39	36.72	44.24	43.63
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.22	0.22	0.21	0.21	0.21	0.21	0.20	0.18	0.20	0.20	0.20
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.99	0.78	0.81	0.00	0.98
Days Sales Outstanding (DSO)	9.19	8.91	11.30	8.04	8.94	8.15	12.27	9.04	9.94	8.25	8.37
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	206,276.16	0.00	0.00	0.00	367.12	465.58	452.16	0.00	372.00
Cash Conversion Cycle (CCC)	9.19	8.91	-206,264.87	8.04	8.94	8.15	-354.85	-456.54	-442.22	8.25	-363.63
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,664	2,647	2,777	2,880	2,862	2,853	3,012	3,032	3,102	3,069	3,135
Invested Capital Turnover	0.18	0.18	0.18	0.17	0.17	0.17	0.17	0.15	0.16	0.16	0.22
Increase / (Decrease) in Invested Capital	-198	-206	-235	-152	-240	-216	-123	-690	-91	-22	1,786
Enterprise Value (EV)	2,390	2,522	2,567	2,307	2,322	2,309	2,147	2,177	2,141	2,195	2,380
Market Capitalization	746	940	914	746	772	800	668	675	658	784	885
Book Value per Share	$5.74	$6.02	$6.36	$7.50	$7.47	$7.65	$8.76	$9.01	$9.23	$9.48	$9.48
Tangible Book Value per Share	$5.71	$5.98	$6.33	$7.47	$7.42	$7.61	$8.71	$8.94	$9.14	$9.37	$9.37
Total Capital	3,237	3,281	3,390	3,564	3,497	3,486	3,672	3,714	3,750	3,622	3,733
Total Debt	2,238	2,236	2,285	2,265	2,205	2,162	2,158	2,157	2,157	1,988	2,098
Total Long-Term Debt	2,238	2,236	2,285	2,265	2,205	2,162	2,158	2,157	2,157	1,988	2,098
Net Debt	1,638	1,576	1,646	1,555	1,543	1,503	1,472	1,494	1,476	1,403	1,487
Capital Expenditures (CapEx)	26	-83	27	17	20	14	18	32	28	3.08	141
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-125	-151	-149	-129	-126	-134	-131	-136	-130	-144	-135
Debt-free Net Working Capital (DFNWC)	-95	-61	-112	-99	-83	-76	-83	-104	-33	-126	-103
Net Working Capital (NWC)	-95	-61	-112	-99	-83	-76	-83	-104	-33	-126	-103
Net Nonoperating Expense (NNE)	38	60	159	-11	32	103	32	26	22	-0.14	24
Net Nonoperating Obligations (NNO)	1,665	1,602	1,672	1,581	1,570	1,529	1,498	1,476	1,509	1,436	1,500
Total Depreciation and Amortization (D&A)	45	46	45	43	46	48	50	48	46	42	45
Debt-free, Cash-free Net Working Capital to Revenue	-24.95%	-29.86%	-28.93%	-25.30%	-24.69%	-26.11%	-25.53%	-26.74%	-25.60%	-28.40%	-26.79%
Debt-free Net Working Capital to Revenue	-19.07%	-12.01%	-21.83%	-19.36%	-16.25%	-14.77%	-16.21%	-20.44%	-6.51%	-24.93%	-20.59%
Net Working Capital to Revenue	-19.07%	-12.01%	-21.83%	-19.36%	-16.25%	-14.77%	-16.21%	-20.44%	-6.51%	-24.93%	-20.59%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.16)	($0.25)	($0.96)	$0.17	($0.10)	($0.91)	($0.13)	($0.08)	($0.03)	$0.17	$0.08
Adjusted Weighted Average Basic Shares Outstanding	172.92M	172.53M	172.67M	172.56M	172.21M	171.96M	172.10M	171.96M	171.67M	171.49M	171.57M
Adjusted Diluted Earnings per Share	($0.16)	($0.25)	($0.96)	$0.17	($0.10)	($0.91)	($0.13)	($0.08)	($0.03)	$0.17	$0.08
Adjusted Weighted Average Diluted Shares Outstanding	172.92M	172.53M	172.67M	174.70M	172.21M	171.96M	172.10M	171.96M	171.67M	172.33M	172.15M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	172.95M	173.07M	172.67M	172.67M	172.27M	172.24M	172.10M	172.10M	171.91M	171.73M	171.57M
Normalized Net Operating Profit after Tax (NOPAT)	8.47	15	20	26	16	-61	18	16	16	21	18
Normalized NOPAT Margin	6.97%	12.60%	15.15%	20.66%	12.69%	-46.82%	14.03%	13.03%	12.63%	16.07%	14.15%
Pre Tax Income Margin	-22.27%	-36.60%	-125.75%	24.15%	-12.98%	-121.16%	-16.73%	-10.11%	-4.06%	23.07%	10.73%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.44	2.56	-0.35	0.63	0.87	-3.25	0.54	0.75	1.02	4.05	2.13
NOPAT to Interest Expense	0.33	0.49	-0.22	0.68	0.64	-2.24	0.41	0.56	0.74	1.48	2.17
EBIT Less CapEx to Interest Expense	-0.37	5.23	-1.22	0.02	0.08	-3.83	-0.18	-0.58	-0.21	3.89	-6.13
NOPAT Less CapEx to Interest Expense	-0.48	3.16	-1.09	0.07	-0.15	-2.82	-0.31	-0.77	-0.48	1.32	-6.08
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-50.70%	-53.33%	-33.77%	-67.22%	-56.51%	-63.13%	-1,329.04%	520.23%	307.91%	242.95%	454.79%
Augmented Payout Ratio	-50.70%	-53.33%	-33.77%	-67.22%	-56.51%	-63.13%	-1,329.04%	520.23%	307.91%	242.95%	454.79%

Frequently Asked Questions About Brandywine Realty Trust's Financials

When does Brandywine Realty Trust's fiscal year end?

According to the most recent income statement we have on file, Brandywine Realty Trust's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Brandywine Realty Trust's net income changed over the last 2 years?

Brandywine Realty Trust's net income appears to be on an upward trend, with a most recent value of -$196.49 million in 2024, falling from $53.99 million in 2022. The previous period was -$197.40 million in 2023. View Brandywine Realty Trust's forecast to see where analysts expect Brandywine Realty Trust to go next.

What is Brandywine Realty Trust's operating income?

Brandywine Realty Trust's total operating income in 2024 was $54.88 million, based on the following breakdown:

Total Gross Profit: $505.52 million
Total Operating Expenses: $452.93 million

How has Brandywine Realty Trust revenue changed over the last 2 years?

Over the last 2 years, Brandywine Realty Trust's total revenue changed from $506.10 million in 2022 to $505.52 million in 2024, a change of -0.1%.

How much debt does Brandywine Realty Trust have?

Brandywine Realty Trust's total liabilities were at $2.45 billion at the end of 2024, a 1.6% increase from 2023, and a 9.2% increase since 2022.

How much cash does Brandywine Realty Trust have?

In the past 2 years, Brandywine Realty Trust's cash and equivalents has ranged from $17.55 million in 2022 to $90.23 million in 2024, and is currently $90.23 million as of their latest financial filing in 2024.

How has Brandywine Realty Trust's book value per share changed over the last 2 years?

Over the last 2 years, Brandywine Realty Trust's book value per share changed from 9.48 in 2022 to 6.02 in 2024, a change of -36.5%.

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This page (NYSE:BDN) was last updated on 5/23/2025 by MarketBeat.com Staff

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Brandywine Realty Trust (BDN) Financials

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Brandywine Realty Trust (BDN) Financials

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