Saul Centers (BFS) Financials

$33.63 -0.18 (-0.53%)

Closing price 05/30/2025 03:59 PM Eastern

Extended Trading

$33.66 +0.02 (+0.07%)

As of 05/30/2025 06:50 PM Eastern

Annual Income Statements for Saul Centers

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2015	12/31/2014
Net Income / (Loss) Attributable to Common Shareholders	39	41	39	37	29	36	36	36	30	32
Consolidated Net Income / (Loss)	68	69	65	62	50	64	63	61	53	58
Net Income / (Loss) Continuing Operations	68	69	65	62	50	64	63	61	53	58
Total Pre-Tax Income	68	69	65	62	50	64	63	61	53	52
Total Operating Income	121	118	109	107	97	106	108	108	53	52
Total Gross Profit	269	257	246	206	196	174	227	226	208	206
Total Revenue	269	257	246	239	225	232	227	226	209	207
Operating Revenue	269	257	246	239	225	-	227	226	203	198
Total Cost of Revenue	0.00	0.00	0.00	33	29	58	0.00	0.00	0.92	0.68
Total Operating Expenses	147	139	137	99	100	67	119	119	155	154
Selling, General & Admin Expense	25	23	22	20	19	21	18	18	16	17
Depreciation Expense	51	48	49	50	51	46	46	46	43	41
Other Operating Expenses / (Income)	72	67	65	29	30	-	56	55	96	95
Other Special Charges / (Income)	-0.18	0.00	0.65	-	-0.28	0.00	-0.51	0.00	-	-
Total Other Income / (Expense), net	-54	-49	-44	-45	-47	-42	-45	-47	-0.01	-0.01
Interest Expense	54	49	44	45	47	42	45	47	-	-
Preferred Stock Dividends Declared	11	11	11	11	11	15	15	12	12	15
Net Income / (Loss) Attributable to Noncontrolling Interest	17	16	15	13	9.93	12	13	12	10	11
Basic Earnings per Share	$1.64	$1.73	$1.63	$1.57	$1.25	$1.58	$1.61	$1.64	$1.42	$1.55
Weighted Average Basic Shares Outstanding	24.20M	23.98M	23.91M	23.80M	23.50M	23.20M	22.70M	22M	21.08M	20.80M
Diluted Earnings per Share	$1.63	$1.73	$1.63	$1.57	$1.25	$1.57	$1.60	$1.63	$1.42	$1.54
Weighted Average Diluted Shares Outstanding	24.20M	23.98M	23.91M	23.80M	23.50M	23.20M	22.70M	22M	21.08M	20.80M
Weighted Average Basic & Diluted Shares Outstanding	24.20M	23.98M	23.91M	23.80M	23.50M	23.20M	22.70M	22M	21.08M	20.80M
Cash Dividends to Common per Share	$2.36	$2.36	$2.32	$2.16	$2.12	$2.12	$2.08	$2.04	$1.69	$1.56

This table shows Saul Centers' 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	7.00	5.29	12	12	11	10	10	10	11	9.06	9.15
Consolidated Net Income / (Loss)	13	10	20	19	18	17	17	17	18	15	16
Net Income / (Loss) Continuing Operations	13	10	20	19	18	17	17	17	18	15	16
Total Pre-Tax Income	13	10	20	19	18	17	17	17	18	15	16
Total Operating Income	30	27	32	32	31	30	29	29	29	27	27
Total Gross Profit	72	78	67	67	56	75	64	64	54	62	61
Total Revenue	72	68	67	67	67	67	64	64	63	62	61
Operating Revenue	72	68	67	67	67	67	64	64	63	62	61
Total Cost of Revenue	0.00	-11	0.00	0.00	11	-8.79	0.00	0.00	8.79	-	0.00
Total Operating Expenses	42	51	35	35	25	45	35	34	25	35	34
Selling, General & Admin Expense	6.01	7.50	5.68	6.10	5.78	7.33	5.18	5.68	5.27	6.40	5.56
Depreciation Expense	15	14	12	12	12	12	12	12	12	12	12
Other Operating Expenses / (Income)	22	29	18	17	7.62	26	17	16	7.50	17	16
Total Other Income / (Expense), net	-17	-17	-12	-12	-12	-13	-12	-12	-12	-12	-11
Interest Expense	17	17	12	12	12	13	12	12	12	12	11
Preferred Stock Dividends Declared	2.80	2.80	2.80	2.80	2.80	2.80	2.80	2.80	2.80	2.80	2.80
Net Income / (Loss) Attributable to Noncontrolling Interest	3.05	2.27	5.11	5.04	4.63	4.26	3.89	4.03	4.16	3.53	3.56
Basic Earnings per Share	$0.29	$0.23	$0.48	$0.48	$0.45	$0.43	$0.42	$0.43	$0.45	$0.38	$0.38
Weighted Average Basic Shares Outstanding	24.22M	24.20M	24.17M	24.14M	23.98M	23.98M	23.94M	23.94M	23.93M	23.91M	23.90M
Diluted Earnings per Share	$0.29	$0.22	$0.48	$0.48	$0.45	$0.43	$0.42	$0.43	$0.45	$0.38	$0.38
Weighted Average Diluted Shares Outstanding	24.22M	24.20M	24.17M	24.14M	23.98M	23.98M	23.94M	23.94M	23.93M	23.91M	23.90M
Weighted Average Basic & Diluted Shares Outstanding	24.22M	24.20M	24.17M	24.14M	23.98M	23.98M	23.94M	23.94M	23.93M	23.91M	23.90M

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Net Change in Cash & Equivalents	1.89	-4.87	-1.32	-12	13	-0.67	3.67	2.59	-1.68	-2.13	-5.17
Net Cash From Operating Activities	121	118	121	118	78	115	110	103	89	89	87
Net Cash From Continuing Operating Activities	121	118	121	118	78	115	110	103	89	89	87
Net Income / (Loss) Continuing Operations	68	69	65	62	50	64	63	61	57	53	58
Consolidated Net Income / (Loss)	68	69	65	62	50	64	63	61	57	53	58
Depreciation Expense	51	48	49	50	51	46	46	46	44	43	41
Amortization Expense	2.35	2.25	1.99	1.71	1.57	1.52	1.61	1.39	1.34	1.43	1.33
Non-Cash Adjustments To Reconcile Net Income	2.40	1.96	2.08	2.37	6.37	3.52	1.95	2.51	2.09	2.35	-4.14
Changes in Operating Assets and Liabilities, net	-1.74	-3.93	2.72	2.42	-31	-0.19	-2.14	-6.81	-15	-11	-9.81
Net Cash From Investing Activities	-189	-204	-117	-56	-56	-136	-129	-113	-86	-70	-84
Net Cash From Continuing Investing Activities	-189	-204	-117	-56	-56	-136	-129	-113	-86	-70	-84
Acquisitions	-37	-	-	-	-	-	-	-	-	-	-
Sale of Property, Plant & Equipment	0.18	0.00	0.00	-	0.38	0.00	1.33	6.69	4.77	0.03	-
Other Investing Activities, net	-152	-177	-101	-26	-36	-114	-76	-23	-27	-46	-18
Net Cash From Financing Activities	69	81	-5.58	-75	-9.26	20	22	12	-4.50	-21	-8.15
Net Cash From Continuing Financing Activities	69	81	-5.58	-75	-9.26	20	22	12	-4.50	-21	-8.15
Repayment of Debt	-321	-91	-282	-94	-84	-135	-192	-109	-82	-88	-70
Payment of Dividends	-68	-68	-67	-62	-61	-61	-59	-57	-52	-48	-46
Issuance of Debt	464	258	355	82	142	203	255	164	115	106	95
Issuance of Common Equity	2.41	2.24	8.17	14	8.26	25	31	23	22	16	16
Other Financing Activities, net	-7.87	-20	-20	-15	-15	-13	-11	-8.53	-6.62	-6.56	-2.24
Cash Interest Paid	52	46	41	45	45	40	44	46	44	44	45

This table details how cash moves in and out of Saul Centers' 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	-3.81	3.10	0.33	-0.22	-1.33	1.82	-4.89	-0.34	-1.47	2.99	-0.88
Net Cash From Operating Activities	30	29	26	32	34	33	16	33	36	29	26
Net Cash From Continuing Operating Activities	30	29	26	32	34	33	16	33	36	29	26
Net Income / (Loss) Continuing Operations	13	10	20	19	18	17	17	17	18	15	16
Consolidated Net Income / (Loss)	13	10	20	19	18	17	17	17	18	15	16
Depreciation Expense	15	14	12	12	12	12	12	12	12	12	12
Amortization Expense	0.63	0.63	0.58	0.58	0.56	0.56	0.57	0.56	0.56	0.56	0.49
Non-Cash Adjustments To Reconcile Net Income	0.82	0.72	0.62	0.50	0.56	0.66	0.48	0.62	0.19	0.23	0.89
Changes in Operating Assets and Liabilities, net	1.56	2.67	-6.37	-0.44	2.41	1.80	-14	2.11	5.67	0.89	-3.56
Net Cash From Investing Activities	-24	-44	-55	-45	-46	-56	-48	-56	-43	-32	-33
Net Cash From Continuing Investing Activities	-24	-44	-55	-45	-46	-56	-48	-56	-43	-32	-33
Purchase of Investments	-8.79	-	-9.88	-5.06	-5.83	-7.58	-4.50	-9.09	-5.02	-3.57	-5.20
Other Investing Activities, net	-16	-27	-45	-40	-40	-49	-43	-47	-38	-29	-27
Net Cash From Financing Activities	-9.70	18	29	12	10	26	27	23	5.59	6.23	6.19
Net Cash From Continuing Financing Activities	-9.70	18	29	12	10	26	27	23	5.59	6.23	6.19
Repayment of Debt	-25	-69	-91	-123	-38	-30	-11	-20	-29	-7.88	-209
Payment of Dividends	-23	1.13	-23	-23	-23	-0.54	-22	-22	-22	-0.90	-22
Issuance of Debt	36	108	141	157	59	76	60	65	56	36	237
Issuance of Common Equity	2.23	-14	2.21	2.09	12	0.60	0.56	0.54	0.54	-0.78	0.65
Cash Interest Paid	16	16	12	12	12	12	12	12	11	10	11

This table presents Saul Centers' 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	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Total Assets	2,126	1,994	1,833	1,747	1,646	1,618	1,527	1,422	1,343	1,295	1,267
Total Current Assets	61	64	70	73	92	72	74	65	61	61	63
Cash & Equivalents	10	8.41	13	15	27	14	15	11	8.32	10	12
Accounts Receivable	51	56	56	59	65	52	54	54	53	51	47
Plant, Property, & Equipment, net	2,024	1,892	1,720	1,634	1,517	1,518	1,423	1,224	1,179	1,114	1,164
Plant, Property & Equipment, gross	2,792	2,621	2,408	2,284	2,125	2,082	1,948	1,712	1,637	1,539	1,560
Accumulated Depreciation	768	729	688	650	608	563	526	488	458	425	397
Total Noncurrent Assets	41	38	44	39	37	29	31	134	103	121	40
Other Noncurrent Operating Assets	41	38	44	39	37	29	31	134	103	121	40
Total Liabilities & Shareholders' Equity	2,126	1,994	1,833	1,747	1,646	1,618	1,527	1,422	1,343	1,295	1,267
Total Liabilities	1,625	1,490	1,312	1,216	1,218	1,175	1,102	1,029	970	942	928
Total Current Liabilities	70	80	65	47	44	54	52	19	49	47	70
Accounts Payable	46	57	43	26	24	35	32	-	-	-	24
Dividends Payable	23	23	22	22	19	19	19	19	18	15	14
Total Noncurrent Liabilities	1,556	1,410	1,246	1,169	1,174	1,120	1,051	1,011	921	894	857
Long-Term Debt	1,334	1,310	1,223	1,144	1,006	983	1,000	959	832	823	852
Noncurrent Deferred & Payable Income Tax Liabilities	23	23	23	-	-	-	-	-	-	-	-
Other Noncurrent Operating Liabilities	199	77	0.00	25	168	109	22	23	90	71	5.39
Total Equity & Noncontrolling Interests	501	504	522	530	428	443	425	393	373	354	339
Total Preferred & Common Equity	336	348	400	405	364	375	356	334	319	303	293
Preferred Stock	185	185	185	185	185	185	180	180	180	180	180
Total Common Equity	151	163	215	220	179	190	176	154	139	123	113
Common Stock	454	450	447	437	421	411	385	353	328	305	288
Retained Earnings	-307	-289	-274	-256	-242	-221	-209	-198	-189	-180	-174
Accumulated Other Comprehensive Income / (Loss)	2.97	2.01	2.85	0.00	-	-	-0.26	-0.70	-1.30	-1.80	-1.89
Noncontrolling Interest	165	156	121	125	63	68	69	59	55	50	47

This table presents Saul Centers' 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	2,131	2,113	2,072	2,030	1,961	1,907	1,868	1,810
Total Current Assets	57	67	60	61	63	63	64	69
Cash & Equivalents	6.49	7.20	6.86	7.08	6.59	11	12	10
Accounts Receivable	51	60	53	54	57	52	53	59
Plant, Property, & Equipment, net	2,038	2,006	1,973	1,930	1,849	1,804	1,762	1,693
Plant, Property & Equipment, gross	2,817	2,764	2,721	2,669	2,568	2,513	2,461	2,372
Accumulated Depreciation	779	758	749	739	719	709	699	679
Total Noncurrent Assets	37	40	39	40	49	39	41	48
Other Noncurrent Operating Assets	37	40	39	40	49	39	41	48
Total Liabilities & Shareholders' Equity	2,131	2,113	2,072	2,030	1,961	1,907	1,868	1,810
Total Liabilities	1,640	1,604	1,559	1,516	1,450	1,393	1,352	1,282
Total Current Liabilities	75	83	96	86	83	77	270	62
Accounts Payable	51	59	72	63	61	54	56	39
Dividends Payable	24	23	23	23	22	22	22	22
Total Noncurrent Liabilities	1,565	1,522	1,463	1,430	1,366	1,316	1,082	1,220
Long-Term Debt	1,335	1,314	1,301	1,300	1,343	1,268	1,059	1,194
Noncurrent Deferred & Payable Income Tax Liabilities	20	29	20	22	23	22	-	-
Other Noncurrent Operating Liabilities	210	179	142	109	-	26	23	26
Total Equity & Noncontrolling Interests	492	509	513	514	511	514	516	528
Total Preferred & Common Equity	328	342	346	347	394	395	396	405
Preferred Stock	185	185	185	185	185	185	185	185
Total Common Equity	143	157	161	162	209	210	211	220
Common Stock	455	453	452	451	449	448	447	445
Retained Earnings	-314	-297	-295	-292	-285	-281	-277	-268
Accumulated Other Comprehensive Income / (Loss)	1.89	1.03	3.43	3.28	4.72	3.13	1.40	3.06
Noncontrolling Interest	163	167	167	167	118	119	119	123

This table displays calculated financial ratios and metrics derived from Saul Centers' official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015	12/31/2014
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.53%	4.62%	2.77%	6.22%	-2.73%	1.90%	0.41%	0.00%	3.82%	0.96%	4.65%
EBITDA Growth	3.20%	5.35%	0.77%	6.37%	-2.83%	-0.91%	0.26%	52.66%	3.94%	3.36%	10.18%
EBIT Growth	2.72%	8.09%	2.11%	10.57%	-8.67%	-1.67%	0.01%	93.54%	5.27%	1.93%	46.92%
NOPAT Growth	2.72%	8.09%	2.11%	10.57%	-9.05%	-1.27%	0.08%	93.39%	5.26%	1.93%	47.24%
Net Income Growth	-1.92%	5.56%	6.07%	22.52%	-21.62%	1.80%	3.94%	0.00%	7.16%	-8.72%	66.43%
EPS Growth	-5.78%	6.14%	3.82%	25.60%	-20.38%	-1.88%	-1.84%	0.00%	7.04%	-7.79%	170.18%
Operating Cash Flow Growth	2.97%	-2.83%	2.30%	51.11%	-32.08%	4.57%	6.66%	16.12%	0.22%	2.69%	17.74%
Free Cash Flow Firm Growth	134.47%	17.70%	124.93%	-245.43%	-3.27%	182.79%	200.23%	-260.01%	-64.02%	712.72%	-125.87%
Invested Capital Growth	1.07%	4.26%	4.31%	17.88%	-0.34%	0.09%	5.20%	11.93%	2.75%	-0.96%	5.52%
Revenue Q/Q Growth	0.46%	1.72%	0.86%	0.82%	-34.03%	101.03%	-3.55%	0.00%	0.60%	0.79%	0.54%
EBITDA Q/Q Growth	-0.40%	1.46%	0.12%	0.94%	-45.17%	380.55%	5.23%	231.56%	-0.66%	2.29%	0.87%
EBIT Q/Q Growth	-2.39%	1.97%	0.41%	2.42%	-56.46%	739.35%	7.02%	0.00%	-1.28%	3.47%	0.26%
NOPAT Q/Q Growth	-2.39%	1.97%	0.41%	2.42%	-56.46%	1,017.11%	7.02%	0.00%	-1.28%	3.46%	0.20%
Net Income Q/Q Growth	-9.50%	3.09%	-0.70%	7.26%	0.00%	0.00%	1.64%	0.00%	0.52%	3.47%	0.24%
EPS Q/Q Growth	-11.41%	2.98%	-0.61%	7.53%	0.00%	0.00%	1.91%	0.00%	0.66%	9.23%	-4.94%
Operating Cash Flow Q/Q Growth	-3.13%	3.10%	-0.22%	7.06%	-12.98%	-1.86%	6.22%	11.02%	-5.75%	4.38%	-5.09%
Free Cash Flow Firm Q/Q Growth	-34.66%	317.27%	137.35%	-1,876.13%	-54.91%	1,384.32%	66.16%	79.58%	-67.55%	46.22%	-645.77%
Invested Capital Q/Q Growth	0.50%	-2.24%	1.11%	10.11%	-0.31%	-0.19%	-0.52%	0.02%	3.15%	-0.87%	0.69%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	86.26%	87.19%	74.98%	100.00%	100.00%	99.31%	99.56%	99.67%
EBITDA Margin	64.82%	65.65%	65.19%	66.49%	66.40%	66.46%	68.35%	68.45%	46.74%	46.69%	45.61%
Operating Margin	45.16%	45.95%	44.47%	44.76%	43.00%	45.98%	47.46%	47.61%	25.67%	25.32%	25.08%
EBIT Margin	45.16%	45.95%	44.47%	44.76%	43.00%	45.80%	47.46%	47.64%	25.66%	25.31%	25.07%
Profit (Net Income) Margin	25.18%	26.84%	26.60%	25.77%	22.34%	27.73%	27.75%	26.81%	26.13%	25.32%	28.00%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	101.82%	100.02%	111.69%
Interest Burden Percent	55.77%	58.41%	59.81%	57.58%	51.96%	60.55%	58.48%	56.27%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	6.60%	6.60%	6.37%	6.89%	6.78%	7.44%	7.73%	8.37%	4.65%	4.46%	4.47%
ROIC Less NNEP Spread (ROIC-NNEP)	2.58%	2.75%	2.68%	2.66%	2.09%	3.20%	3.19%	3.16%	4.77%	4.46%	5.19%
Return on Net Nonoperating Assets (RNNOA)	6.86%	6.85%	6.06%	5.98%	4.78%	7.34%	7.68%	7.46%	10.95%	10.82%	13.26%
Return on Equity (ROE)	13.47%	13.45%	12.43%	12.87%	11.56%	14.78%	15.41%	15.83%	15.60%	15.28%	17.72%
Cash Return on Invested Capital (CROIC)	5.54%	2.42%	2.15%	-9.52%	7.12%	7.35%	2.67%	-2.88%	1.93%	5.43%	-0.90%
Operating Return on Assets (OROA)	5.89%	6.18%	6.11%	6.31%	5.93%	6.74%	7.31%	7.80%	4.22%	4.13%	4.21%
Return on Assets (ROA)	3.29%	3.61%	3.65%	3.63%	3.08%	4.08%	4.28%	4.39%	4.30%	4.13%	4.70%
Return on Common Equity (ROCE)	4.21%	4.97%	5.14%	5.37%	4.90%	6.23%	6.22%	6.05%	5.62%	5.20%	5.67%
Return on Equity Simple (ROE_SIMPLE)	20.16%	19.81%	16.33%	15.22%	13.81%	17.12%	17.72%	18.14%	17.81%	17.45%	19.82%
Net Operating Profit after Tax (NOPAT)	121	118	109	107	97	106	108	108	56	53	52
NOPAT Margin	45.16%	45.95%	44.47%	44.76%	43.00%	45.98%	47.46%	47.61%	25.67%	25.32%	25.08%
Net Nonoperating Expense Percent (NNEP)	4.02%	3.85%	3.69%	4.23%	4.68%	4.24%	4.54%	5.21%	-0.12%	0.00%	-0.73%
Return On Investment Capital (ROIC_SIMPLE)	6.62%	6.51%	6.27%	-	-	-	-	-	-	-	-
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	13.74%	12.81%	25.02%	0.00%	0.00%	0.69%	0.44%	0.33%
SG&A Expenses to Revenue	9.32%	9.12%	9.11%	8.47%	8.48%	8.98%	8.12%	8.03%	8.06%	7.82%	8.19%
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	54.84%	54.05%	55.53%	41.50%	44.19%	28.99%	52.54%	52.39%	73.65%	74.25%	74.60%
Earnings before Interest and Taxes (EBIT)	121	118	109	107	97	106	108	108	56	53	52
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	174	169	160	159	150	154	155	155	101	98	94
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.12	5.33	3.93	4.88	3.35	4.89	4.44	6.16	0.00	5.81	6.79
Price to Tangible Book Value (P/TBV)	6.12	5.33	3.93	4.88	3.35	4.89	4.44	6.16	0.00	5.81	6.79
Price to Revenue (P/Rev)	3.43	3.39	3.44	4.49	2.67	4.01	3.44	4.21	0.00	3.43	3.69
Price to Earnings (P/E)	23.39	20.98	21.71	28.87	20.57	25.61	21.72	26.53	0.00	23.82	23.79
Dividend Yield	6.18%	6.49%	6.55%	4.77%	8.26%	5.27%	6.02%	4.69%	3.29%	5.00%	4.27%
Earnings Yield	4.27%	4.77%	4.61%	3.46%	4.86%	3.90%	4.60%	3.77%	0.00%	4.20%	4.20%
Enterprise Value to Invested Capital (EV/IC)	1.41	1.37	1.35	1.49	1.28	1.50	1.41	1.57	0.87	1.49	1.53
Enterprise Value to Revenue (EV/Rev)	9.66	9.77	9.61	10.51	8.12	9.29	8.87	9.45	4.87	8.42	8.84
Enterprise Value to EBITDA (EV/EBITDA)	14.90	14.88	14.74	15.80	12.22	13.98	12.98	13.80	10.43	18.03	19.38
Enterprise Value to EBIT (EV/EBIT)	21.39	21.26	21.61	23.47	18.88	20.28	18.70	19.83	18.99	33.26	35.26
Enterprise Value to NOPAT (EV/NOPAT)	21.39	21.26	21.61	23.47	18.88	20.20	18.70	19.85	18.99	33.25	35.25
Enterprise Value to Operating Cash Flow (EV/OCF)	21.42	21.35	19.50	21.22	23.33	18.64	18.27	20.67	11.88	19.80	21.14
Enterprise Value to Free Cash Flow (EV/FCFF)	25.52	57.90	64.07	0.00	17.97	20.45	54.22	0.00	45.64	27.31	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.66	2.60	2.34	2.16	2.35	2.22	2.35	2.44	2.23	2.33	2.51
Long-Term Debt to Equity	2.66	2.60	2.34	2.16	2.35	2.22	2.35	2.44	2.23	2.33	2.51
Financial Leverage	2.66	2.49	2.26	2.24	2.28	2.29	2.41	2.36	2.30	2.43	2.55
Leverage Ratio	4.10	3.73	3.40	3.54	3.75	3.62	3.60	3.61	3.63	3.70	3.77
Compound Leverage Factor	2.29	2.18	2.03	2.04	1.95	2.19	2.11	2.03	3.63	3.70	3.77
Debt to Total Capital	72.69%	72.19%	70.09%	68.32%	70.18%	68.91%	70.17%	70.92%	69.02%	69.94%	71.52%
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	72.69%	72.19%	70.09%	68.32%	70.18%	68.91%	70.17%	70.92%	69.02%	69.94%	71.52%
Preferred Equity to Total Capital	10.08%	10.20%	10.60%	11.05%	12.90%	12.97%	12.63%	13.32%	14.94%	15.30%	15.11%
Noncontrolling Interests to Total Capital	9.01%	8.60%	6.95%	7.49%	4.41%	4.80%	4.86%	4.34%	4.54%	4.28%	3.92%
Common Equity to Total Capital	8.21%	9.01%	12.35%	13.14%	12.51%	13.32%	12.34%	11.42%	11.50%	10.48%	9.45%
Debt to EBITDA	7.66	7.76	7.63	7.19	6.73	6.39	6.44	6.19	8.20	8.43	9.02
Net Debt to EBITDA	7.60	7.71	7.55	7.10	6.55	6.29	6.35	6.12	8.11	8.33	8.89
Long-Term Debt to EBITDA	7.66	7.76	7.63	7.19	6.73	6.39	6.44	6.19	8.20	8.43	9.02
Debt to NOPAT	10.99	11.08	11.19	10.68	10.39	9.23	9.28	8.90	14.93	15.55	16.41
Net Debt to NOPAT	10.90	11.01	11.06	10.55	10.11	9.10	9.14	8.80	14.78	15.36	16.17
Long-Term Debt to NOPAT	10.99	11.08	11.19	10.68	10.39	9.23	9.28	8.90	14.93	15.55	16.41
Altman Z-Score	0.45	0.46	0.51	0.68	0.46	0.65	0.63	0.81	0.10	0.57	0.59
Noncontrolling Interest Sharing Ratio	68.76%	63.08%	58.61%	58.31%	57.59%	57.87%	59.63%	61.78%	63.98%	65.96%	68.03%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.88	0.81	1.06	1.55	2.09	1.31	1.43	3.51	0.96	1.29	0.90
Quick Ratio	0.88	0.81	1.06	1.55	2.09	1.22	1.33	3.51	0.88	1.29	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	102	43	37	-148	102	105	37	-37	23	64	-11
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	1,314.25%	0.00%	0.00%	279.27%	142.08%	825.44%	472.27%	577.66%
Free Cash Flow to Firm to Interest Expense	1.90	0.88	0.84	-3.26	2.19	2.51	0.83	-0.79	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	2.26	2.40	2.76	2.61	1.68	2.76	2.46	2.19	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	2.26	2.40	2.76	2.41	1.69	2.76	1.58	0.65	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.13	0.13	0.14	0.14	0.14	0.15	0.15	0.16	0.16	0.16	0.17
Accounts Receivable Turnover	5.03	4.58	4.28	3.87	3.84	4.36	4.21	4.24	4.17	4.27	4.57
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	0.14	0.14	0.15	0.15	0.15	0.16	0.17	0.19	0.18	0.18	0.18
Accounts Payable Turnover	0.00	0.00	0.00	1.32	0.97	1.71	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	72.62	79.72	85.35	94.27	95.00	83.70	86.69	86.15	87.53	85.42	79.90
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	0.00	277.19	376.82	213.01	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	72.62	79.72	85.35	-182.92	-281.82	-129.31	86.69	86.15	87.53	85.42	79.90
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,848	1,829	1,754	1,681	1,426	1,431	1,430	1,359	1,214	1,182	1,193
Invested Capital Turnover	0.15	0.14	0.14	0.15	0.16	0.16	0.16	0.18	0.18	0.18	0.18
Increase / (Decrease) in Invested Capital	20	75	72	255	-4.88	1.32	71	145	33	-12	62
Enterprise Value (EV)	2,597	2,513	2,362	2,513	1,828	2,151	2,016	2,138	1,058	1,760	1,830
Market Capitalization	923	871	847	1,074	600	929	781	952	0.00	717	764
Book Value per Share	$6.24	$6.82	$9.02	$9.28	$7.66	$8.22	$7.78	$7.05	$0.00	$5.82	$5.38
Tangible Book Value per Share	$6.24	$6.82	$9.02	$9.28	$7.66	$8.22	$7.78	$7.05	$0.00	$5.82	$5.38
Total Capital	1,835	1,814	1,745	1,674	1,434	1,426	1,425	1,352	1,205	1,177	1,191
Total Debt	1,334	1,310	1,223	1,144	1,006	983	1,000	959	832	823	852
Total Long-Term Debt	1,334	1,310	1,223	1,144	1,006	983	1,000	959	832	823	852
Net Debt	1,324	1,301	1,210	1,129	979	969	986	948	823	813	840
Capital Expenditures (CapEx)	-0.18	0.00	0.00	9.01	-0.38	0.00	40	73	11	19	15
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-19	-24	-9.11	11	21	3.18	7.48	36	-11	3.59	-19
Debt-free Net Working Capital (DFNWC)	-8.38	-16	4.17	26	48	17	22	46	-3.08	14	-7.34
Net Working Capital (NWC)	-8.38	-16	4.17	26	48	17	22	46	-3.08	14	-7.34
Net Nonoperating Expense (NNE)	54	49	44	45	47	42	45	47	-1.01	-0.00	-6.06
Net Nonoperating Obligations (NNO)	1,347	1,324	1,232	1,151	999	988	1,005	966	841	828	854
Total Depreciation and Amortization (D&A)	53	51	51	52	53	48	47	47	46	45	43
Debt-free, Cash-free Net Working Capital to Revenue	-6.95%	-9.30%	-3.70%	4.78%	9.36%	1.38%	3.29%	15.70%	-5.25%	1.72%	-9.40%
Debt-free Net Working Capital to Revenue	-3.12%	-6.03%	1.70%	10.88%	21.29%	7.38%	9.71%	20.52%	-1.42%	6.50%	-3.54%
Net Working Capital to Revenue	-3.12%	-6.03%	1.70%	10.88%	21.29%	7.38%	9.71%	20.52%	-1.42%	6.50%	-3.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.64	$1.73	$1.63	$1.57	$1.25	$1.58	$1.61	$1.64	$1.53	$1.42	$1.55
Adjusted Weighted Average Basic Shares Outstanding	24.20M	23.98M	23.91M	23.80M	23.50M	23.20M	22.70M	22M	0.00	21.08M	20.80M
Adjusted Diluted Earnings per Share	$1.63	$1.73	$1.63	$1.57	$1.25	$1.57	$1.60	$1.63	$1.52	$1.42	$1.54
Adjusted Weighted Average Diluted Shares Outstanding	24.20M	23.98M	23.91M	23.80M	23.50M	23.20M	22.70M	22M	0.00	21.08M	20.80M
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	24.20M	23.98M	23.91M	23.80M	23.50M	23.20M	22.70M	22M	0.00	21.08M	20.80M
Normalized Net Operating Profit after Tax (NOPAT)	85	83	77	75	68	75	75	75	39	37	37
Normalized NOPAT Margin	31.56%	32.16%	31.31%	31.33%	30.01%	32.19%	33.06%	33.33%	17.99%	17.75%	17.87%
Pre Tax Income Margin	25.18%	26.84%	26.60%	25.77%	22.34%	27.73%	27.75%	26.81%	25.66%	25.31%	25.07%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.26	2.40	2.49	2.36	2.08	2.53	2.41	2.29	0.00	0.00	0.00
NOPAT to Interest Expense	2.26	2.40	2.49	2.36	2.08	2.55	2.41	2.29	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	2.26	2.40	2.49	2.16	2.09	2.53	1.53	0.74	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	2.26	2.40	2.49	2.16	2.09	2.55	1.53	0.74	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	100.57%	98.39%	102.03%	100.82%	120.39%	94.96%	93.10%	93.87%	91.41%	90.72%	79.02%
Augmented Payout Ratio	100.57%	98.39%	102.03%	100.82%	120.39%	94.96%	93.10%	93.87%	91.41%	90.72%	79.02%

This table displays calculated financial ratios and metrics derived from Saul Centers' 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	7.74%	1.86%	5.52%	5.08%	5.78%	6.97%	4.39%	5.67%	1.46%	3.48%	1.38%
EBITDA Growth	3.33%	-1.65%	6.37%	5.21%	2.96%	7.72%	6.35%	4.59%	2.84%	0.47%	-3.43%
EBIT Growth	-3.63%	-9.87%	9.18%	7.77%	4.16%	10.79%	9.45%	7.33%	4.95%	1.69%	-4.26%
NOPAT Growth	-3.63%	-9.87%	9.18%	7.77%	4.16%	10.79%	9.45%	7.33%	4.95%	1.69%	-4.26%
Net Income Growth	-29.65%	-40.69%	17.24%	13.39%	3.40%	13.46%	7.72%	1.13%	0.98%	-2.90%	-8.13%
EPS Growth	-35.56%	-48.84%	14.29%	11.63%	0.00%	13.16%	10.53%	0.00%	2.27%	-2.56%	-13.64%
Operating Cash Flow Growth	-10.21%	-11.97%	62.03%	-1.42%	-6.29%	12.16%	-35.95%	22.94%	-9.69%	-0.90%	14.12%
Free Cash Flow Firm Growth	173.04%	116.76%	159.19%	91.02%	68.39%	1.34%	41.03%	63.86%	54.57%	80.16%	-164.56%
Invested Capital Growth	0.76%	1.07%	-1.68%	2.06%	2.94%	4.26%	7.83%	5.08%	5.82%	4.31%	13.60%
Revenue Q/Q Growth	5.79%	0.95%	0.52%	0.38%	0.01%	4.57%	0.09%	1.05%	1.14%	2.04%	1.32%
EBITDA Q/Q Growth	6.14%	-5.17%	0.26%	2.39%	1.03%	2.57%	-0.83%	0.20%	4.00%	1.26%	-2.47%
EBIT Q/Q Growth	9.10%	-14.71%	0.15%	3.41%	2.04%	3.32%	-1.14%	-0.06%	6.00%	2.07%	-3.05%
NOPAT Q/Q Growth	9.10%	-14.71%	0.15%	3.41%	2.04%	3.32%	-1.14%	-0.06%	6.00%	2.07%	-3.05%
Net Income Q/Q Growth	24.04%	-47.13%	0.52%	6.72%	4.58%	4.50%	-2.78%	-2.68%	14.76%	-0.79%	-8.73%
EPS Q/Q Growth	31.82%	-54.17%	0.00%	6.67%	4.65%	2.38%	-2.33%	-4.44%	18.42%	0.00%	-11.63%
Operating Cash Flow Q/Q Growth	5.55%	8.63%	-17.56%	-5.02%	3.49%	99.94%	-49.84%	-9.71%	23.87%	14.17%	-3.73%
Free Cash Flow Firm Q/Q Growth	110.40%	-88.15%	1,327.69%	76.14%	51.73%	58.14%	-86.28%	16.01%	-52.83%	74.98%	-14.16%
Invested Capital Q/Q Growth	-0.26%	0.50%	0.49%	0.03%	0.06%	-2.24%	4.31%	0.89%	1.34%	1.11%	1.65%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	115.52%	100.00%	100.00%	84.19%	113.17%	100.00%	100.00%	86.07%	100.00%	100.00%
EBITDA Margin	62.27%	62.07%	66.07%	66.23%	64.93%	64.28%	65.54%	66.15%	66.71%	63.84%	64.33%
Operating Margin	41.19%	39.94%	47.27%	47.44%	46.05%	45.14%	45.68%	46.25%	46.76%	43.58%	43.57%
EBIT Margin	41.19%	39.94%	47.27%	47.44%	46.05%	45.14%	45.68%	46.25%	46.76%	43.58%	43.57%
Profit (Net Income) Margin	17.88%	15.25%	29.12%	29.11%	27.38%	26.19%	26.21%	26.98%	28.01%	24.69%	25.39%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	43.41%	38.18%	61.60%	61.37%	59.47%	58.02%	57.37%	58.33%	59.91%	56.66%	58.28%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	6.14%	5.84%	6.82%	6.91%	6.66%	6.48%	6.41%	6.61%	6.68%	6.24%	6.51%
ROIC Less NNEP Spread (ROIC-NNEP)	4.89%	4.58%	5.91%	5.97%	5.69%	5.49%	5.44%	5.61%	5.70%	5.25%	5.50%
Return on Net Nonoperating Assets (RNNOA)	12.97%	12.18%	15.59%	15.09%	14.25%	13.68%	13.42%	13.20%	13.12%	11.89%	11.47%
Return on Equity (ROE)	19.11%	18.02%	22.41%	22.01%	20.91%	20.16%	19.83%	19.81%	19.80%	18.13%	17.98%
Cash Return on Invested Capital (CROIC)	5.80%	5.54%	8.40%	4.68%	3.72%	2.42%	-1.11%	1.52%	0.79%	2.15%	-6.05%
Operating Return on Assets (OROA)	5.42%	5.21%	6.21%	6.30%	6.16%	6.07%	6.13%	6.27%	6.37%	5.99%	5.98%
Return on Assets (ROA)	2.35%	1.99%	3.83%	3.87%	3.66%	3.52%	3.51%	3.66%	3.82%	3.39%	3.49%
Return on Common Equity (ROCE)	5.81%	5.63%	8.03%	7.95%	7.58%	7.44%	8.17%	8.19%	8.17%	7.50%	8.12%
Return on Equity Simple (ROE_SIMPLE)	18.97%	0.00%	21.88%	20.81%	20.06%	0.00%	17.01%	16.63%	16.54%	0.00%	16.26%
Net Operating Profit after Tax (NOPAT)	30	27	32	32	31	30	29	29	29	27	27
NOPAT Margin	41.19%	39.94%	47.27%	47.44%	46.05%	45.14%	45.68%	46.25%	46.76%	43.58%	43.57%
Net Nonoperating Expense Percent (NNEP)	1.26%	1.26%	0.91%	0.94%	0.97%	0.99%	0.97%	1.00%	0.98%	0.99%	1.01%
Return On Investment Capital (ROIC_SIMPLE)	1.62%	1.48%	-	-	-	1.66%	-	-	-	1.56%	-
Cost of Revenue to Revenue	0.00%	-15.52%	0.00%	0.00%	15.81%	-13.17%	0.00%	0.00%	13.93%	0.00%	0.00%
SG&A Expenses to Revenue	8.37%	11.04%	8.44%	9.12%	8.67%	11.00%	8.12%	8.91%	8.36%	10.27%	9.09%
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	58.81%	75.59%	52.73%	52.56%	38.14%	68.04%	54.32%	53.75%	39.30%	56.42%	56.43%
Earnings before Interest and Taxes (EBIT)	30	27	32	32	31	30	29	29	29	27	27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	45	42	44	44	43	43	42	42	42	40	39
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.98	6.12	6.36	5.40	5.52	5.33	3.74	3.87	4.02	3.93	3.60
Price to Tangible Book Value (P/TBV)	5.98	6.12	6.36	5.40	5.52	5.33	3.74	3.87	4.02	3.93	3.60
Price to Revenue (P/Rev)	3.13	3.43	3.73	3.29	3.43	3.39	3.09	3.26	3.44	3.44	3.25
Price to Earnings (P/E)	24.07	23.39	22.39	20.24	21.49	20.98	19.45	20.74	21.70	21.71	20.10
Dividend Yield	6.66%	6.18%	5.71%	6.52%	6.33%	6.49%	7.23%	6.93%	6.59%	6.55%	6.88%
Earnings Yield	4.15%	4.27%	4.47%	4.94%	4.65%	4.77%	5.14%	4.82%	4.61%	4.61%	4.97%
Enterprise Value to Invested Capital (EV/IC)	1.37	1.41	1.44	1.37	1.39	1.37	1.29	1.32	1.35	1.35	1.32
Enterprise Value to Revenue (EV/Rev)	9.25	9.66	9.93	9.52	9.73	9.77	9.57	9.49	9.70	9.61	9.37
Enterprise Value to EBITDA (EV/EBITDA)	14.42	14.90	15.19	14.59	14.93	14.88	14.54	14.49	14.76	14.74	14.27
Enterprise Value to EBIT (EV/EBIT)	21.07	21.39	21.36	20.66	21.26	21.26	20.89	20.95	21.49	21.61	20.98
Enterprise Value to NOPAT (EV/NOPAT)	21.07	21.39	21.36	20.66	21.26	21.26	20.89	20.95	21.49	21.61	20.98
Enterprise Value to Operating Cash Flow (EV/OCF)	21.52	21.42	21.23	21.87	21.99	21.35	21.20	19.26	20.40	19.50	18.81
Enterprise Value to Free Cash Flow (EV/FCFF)	23.81	25.52	17.06	29.66	37.82	57.90	0.00	89.25	175.20	64.07	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.71	2.66	2.58	2.54	2.53	2.60	2.63	2.47	2.43	2.34	2.26
Long-Term Debt to Equity	2.71	2.66	2.58	2.54	2.53	2.60	2.63	2.47	2.05	2.34	2.26
Financial Leverage	2.65	2.66	2.64	2.53	2.50	2.49	2.47	2.35	2.30	2.26	2.08
Leverage Ratio	4.14	4.10	3.99	3.87	3.79	3.73	3.63	3.53	3.46	3.40	3.36
Compound Leverage Factor	1.80	1.56	2.46	2.38	2.25	2.16	2.08	2.06	2.07	1.93	1.96
Debt to Total Capital	73.08%	72.69%	72.10%	71.72%	71.66%	72.19%	72.43%	71.16%	70.80%	70.09%	69.33%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	10.87%	0.00%	0.00%
Long-Term Debt to Total Capital	73.08%	72.69%	72.10%	71.72%	71.66%	72.19%	72.43%	71.16%	59.93%	70.09%	69.33%
Preferred Equity to Total Capital	10.13%	10.08%	10.15%	10.20%	10.20%	10.20%	9.98%	10.38%	10.47%	10.60%	10.74%
Noncontrolling Interests to Total Capital	8.94%	9.01%	9.15%	9.23%	9.20%	8.60%	6.34%	6.66%	6.76%	6.95%	7.16%
Common Equity to Total Capital	7.85%	8.21%	8.60%	8.86%	8.94%	9.01%	11.25%	11.80%	11.97%	12.35%	12.76%
Debt to EBITDA	7.60	7.66	7.51	7.55	7.64	7.76	8.07	7.74	7.72	7.63	7.46
Net Debt to EBITDA	7.56	7.60	7.47	7.51	7.60	7.71	8.03	7.67	7.64	7.55	7.39
Long-Term Debt to EBITDA	7.60	7.66	7.51	7.55	7.64	7.76	8.07	7.74	6.53	7.63	7.46
Debt to NOPAT	11.10	10.99	10.57	10.69	10.89	11.08	11.59	11.19	11.23	11.19	10.97
Net Debt to NOPAT	11.04	10.90	10.51	10.63	10.83	11.01	11.53	11.08	11.13	11.06	10.87
Long-Term Debt to NOPAT	11.10	10.99	10.57	10.69	10.89	11.08	11.59	11.19	9.51	11.19	10.97
Altman Z-Score	0.27	0.30	0.34	0.29	0.32	0.32	0.29	0.32	0.22	0.36	0.35
Noncontrolling Interest Sharing Ratio	69.63%	68.76%	64.17%	63.87%	63.73%	63.08%	58.80%	58.69%	58.72%	58.61%	54.87%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.76	0.88	0.81	0.63	0.71	0.81	0.76	0.83	0.24	1.06	1.12
Quick Ratio	0.76	0.88	0.81	0.63	0.71	0.81	0.76	0.83	0.24	1.06	1.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	16	7.49	63	-5.15	-22	-45	-107	-57	-68	-45	-181
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.94	0.45	5.17	-0.42	-1.73	-3.54	-8.59	-4.67	-5.77	-3.85	-16.30
Operating Cash Flow to Interest Expense	1.81	1.72	2.17	2.62	2.72	2.59	1.32	2.65	3.05	2.47	2.30
Operating Cash Flow Less CapEx to Interest Expense	1.81	1.72	2.17	2.62	2.72	2.59	1.32	2.65	3.05	2.47	2.30
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.14	0.14	0.14	0.14
Accounts Receivable Turnover	5.24	5.03	4.59	5.02	4.90	4.58	4.38	4.65	4.53	4.28	4.04
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	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.14	0.15	0.16
Accounts Payable Turnover	0.00	0.00	0.65	0.62	0.66	0.00	0.89	0.93	0.94	0.00	0.00
Days Sales Outstanding (DSO)	69.59	72.62	79.60	72.75	74.46	79.72	83.42	78.41	80.59	85.35	90.24
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	558.12	588.33	552.29	0.00	408.06	392.65	389.49	0.00	0.00
Cash Conversion Cycle (CCC)	69.59	72.62	-478.52	-515.58	-477.83	79.72	-324.64	-314.24	-308.90	85.35	90.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,844	1,848	1,839	1,830	1,830	1,829	1,871	1,793	1,777	1,754	1,735
Invested Capital Turnover	0.15	0.15	0.14	0.15	0.14	0.14	0.14	0.14	0.14	0.14	0.15
Increase / (Decrease) in Invested Capital	14	20	-31	37	52	75	136	87	98	72	208
Enterprise Value (EV)	2,534	2,597	2,657	2,515	2,539	2,513	2,421	2,375	2,393	2,362	2,284
Market Capitalization	857	923	998	868	894	871	781	815	849	847	792
Book Value per Share	$5.92	$6.24	$6.50	$6.70	$6.76	$6.82	$8.72	$8.79	$8.84	$9.02	$9.20
Tangible Book Value per Share	$5.92	$6.24	$6.50	$6.70	$6.76	$6.82	$8.72	$8.79	$8.84	$9.02	$9.20
Total Capital	1,826	1,835	1,823	1,814	1,814	1,814	1,855	1,782	1,767	1,745	1,723
Total Debt	1,335	1,334	1,314	1,301	1,300	1,310	1,343	1,268	1,251	1,223	1,194
Total Long-Term Debt	1,335	1,334	1,314	1,301	1,300	1,310	1,343	1,268	1,059	1,223	1,194
Net Debt	1,328	1,324	1,307	1,294	1,293	1,301	1,337	1,257	1,239	1,210	1,184
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-24	-19	-23	-42	-32	-24	-26	-25	-26	-9.11	-2.93
Debt-free Net Working Capital (DFNWC)	-18	-8.38	-16	-35	-25	-16	-20	-13	-14	4.17	7.36
Net Working Capital (NWC)	-18	-8.38	-16	-35	-25	-16	-20	-13	-206	4.17	7.36
Net Nonoperating Expense (NNE)	17	17	12	12	12	13	12	12	12	12	11
Net Nonoperating Obligations (NNO)	1,352	1,347	1,330	1,317	1,316	1,324	1,359	1,279	1,262	1,232	1,206
Total Depreciation and Amortization (D&A)	15	15	13	13	13	13	13	13	13	13	13
Debt-free, Cash-free Net Working Capital to Revenue	-8.87%	-6.95%	-8.50%	-15.99%	-12.38%	-9.30%	-10.44%	-9.89%	-10.39%	-3.70%	-1.20%
Debt-free Net Working Capital to Revenue	-6.50%	-3.12%	-5.81%	-13.39%	-9.67%	-6.03%	-7.84%	-5.30%	-5.60%	1.70%	3.02%
Net Working Capital to Revenue	-6.50%	-3.12%	-5.81%	-13.39%	-9.67%	-6.03%	-7.84%	-5.30%	-83.46%	1.70%	3.02%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.29	$0.23	$0.48	$0.48	$0.45	$0.43	$0.42	$0.43	$0.45	$0.38	$0.38
Adjusted Weighted Average Basic Shares Outstanding	24.22M	24.20M	24.17M	24.14M	23.98M	23.98M	23.94M	23.94M	23.93M	23.91M	23.90M
Adjusted Diluted Earnings per Share	$0.29	$0.22	$0.48	$0.48	$0.45	$0.43	$0.42	$0.43	$0.45	$0.38	$0.38
Adjusted Weighted Average Diluted Shares Outstanding	24.22M	24.20M	24.17M	24.14M	23.98M	23.98M	23.94M	23.94M	23.93M	23.91M	23.90M
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	24.22M	24.20M	24.17M	24.14M	23.98M	23.98M	23.94M	23.94M	23.93M	23.91M	23.90M
Normalized Net Operating Profit after Tax (NOPAT)	21	19	22	22	21	21	20	21	21	19	19
Normalized NOPAT Margin	28.83%	27.96%	33.09%	33.02%	32.23%	31.60%	31.98%	32.38%	32.73%	30.51%	31.24%
Pre Tax Income Margin	17.88%	15.25%	29.12%	29.11%	27.38%	26.19%	26.21%	26.98%	28.01%	24.69%	25.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.77	1.62	2.60	2.59	2.47	2.38	2.35	2.40	2.49	2.31	2.40
NOPAT to Interest Expense	1.77	1.62	2.60	2.59	2.47	2.38	2.35	2.40	2.49	2.31	2.40
EBIT Less CapEx to Interest Expense	1.77	1.62	2.60	2.59	2.47	2.38	2.35	2.40	2.49	2.31	2.40
NOPAT Less CapEx to Interest Expense	1.77	1.62	2.60	2.59	2.47	2.38	2.35	2.40	2.49	2.31	2.40
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	109.79%	100.57%	93.24%	96.04%	98.24%	98.39%	101.98%	103.78%	102.96%	102.03%	104.07%
Augmented Payout Ratio	109.79%	100.57%	93.24%	96.04%	98.24%	98.39%	101.98%	103.78%	102.96%	102.03%	104.07%

Frequently Asked Questions About Saul Centers' Financials

When does Saul Centers's fiscal year end?

According to the most recent income statement we have on file, Saul Centers' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Saul Centers' net income changed over the last 9 years?

Saul Centers' net income appears to be on an upward trend, with a most recent value of $67.70 million in 2024, rising from $57.99 million in 2014. The previous period was $69.03 million in 2023. See Saul Centers' forecast for analyst expectations on what’s next for the company.

What is Saul Centers's operating income?

Saul Centers's total operating income in 2024 was $121.40 million, based on the following breakdown:

Total Gross Profit: $268.85 million
Total Operating Expenses: $147.45 million

How has Saul Centers revenue changed over the last 9 years?

Over the last 9 years, Saul Centers' total revenue changed from $207.09 million in 2014 to $268.85 million in 2024, a change of 29.8%.

How much debt does Saul Centers have?

Saul Centers' total liabilities were at $1.63 billion at the end of 2024, a 9.1% increase from 2023, and a 75.2% increase since 2014.

How much cash does Saul Centers have?

In the past 10 years, Saul Centers' cash and equivalents has ranged from $8.32 million in 2016 to $26.86 million in 2020, and is currently $10.30 million as of their latest financial filing in 2024.

How has Saul Centers' book value per share changed over the last 10 years?

Over the last 10 years, Saul Centers' book value per share changed from 5.38 in 2014 to 6.24 in 2024, a change of 15.8%.

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This page (NYSE:BFS) was last updated on 5/31/2025 by MarketBeat.com Staff

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Saul Centers (BFS) Financials

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