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BrightSpire Capital (BRSP) Financials

BrightSpire Capital logo
$3.21 +0.09 (+2.88%)
Closing price 11/13/2026 03:59 PM Eastern
Extended Trading
$3.22 +0.02 (+0.47%)
As of 11/13/2026 07:30 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for BrightSpire Capital

Annual Income Statements for BrightSpire Capital

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

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 76 128 -168 -415 -353 -101 46 -16 -132 -31
Consolidated Net Income / (Loss)		 109 128 -177 -463 -376 -105 47 -16 -136 -39
Net Income / (Loss) Continuing Operations		 109 0.00 -177 -463 -254 -105 47 -16 -136 -39
Total Pre-Tax Income 		94 0.00 -164 -496 -251 33 49 -24 -134 -60
Total Revenue		 115 0.00 116 103 104 85 132 140 103 73
Net Interest Income / (Expense)		 114 0.00 116 98 102 120 127 125 91 68
Total Interest Income		 141 0.00 295 295 249 220 268 299 245 195
Investment Securities Interest Income		 141 - 295 295 249 220 268 299 245 195
Total Interest Expense		 26 0.00 179 198 147 101 141 173 154 127
Long-Term Debt Interest Expense		 26 - 179 198 147 101 141 173 154 127
Total Non-Interest Income		 0.48 0.00 0.20 5.11 1.84 -34 5.20 15 12 5.80
Other Service Charges		 0.54 - 3.65 2.33 1.84 2.33 6.06 14 12 8.05
Net Realized & Unrealized Capital Gains on Investments		 -0.06 - -3.45 2.77 0.00 -37 -0.85 0.61 0.23 -2.25
Total Non-Interest Expense		 17 0.00 166 379 234 52 83 164 237 134
Salaries and Employee Benefits		 - - - - 5.52 32 33 40 35 35
Net Occupancy & Equipment Expense		 0.91 - -105 -141 -110 -72 -66 -67 -69 -62
Other Operating Expenses		 16 - 107 82 61 31 89 124 149 39
Depreciation Expense		 0.15 - 91 103 60 36 34 34 41 36
Impairment Charge		 0.00 - 32 283 - 0.00 0.00 7.59 54 62
Other Special Charges		 0.00 - 41 52 218 -84 -6.77 26 27 24
Income Tax Expense		 1.52 - 37 3.17 -11 6.28 2.44 1.06 1.06 -22
Other Gains / (Losses), net		 16 - 24 37 -135 -131 0.03 9.06 0.00 0.00
Other Adjustment to Net Income / (Loss) Attributable to Common Shareholders)		 - - -4.77 -38 -14 -1.73 0.00 -0.07 - -7.62
Basic Earnings per Share		 $1.60 - ($1.41) ($3.25) ($2.75) ($0.79) $0.35 ($0.12) ($1.05) ($0.26)
Weighted Average Basic Shares Outstanding		 44.40M 44.40M 120.68M 128.39M 128.55M 128.50M 127.30M 127.06M 127.44M 126.88M
Diluted Earnings per Share		 $1.60 - ($1.41) ($3.25) ($2.75) ($0.79) $0.34 ($0.12) ($1.05) ($0.26)
Weighted Average Diluted Shares Outstanding		 44.40M 44.40M 120.68M 128.39M 128.55M 128.50M 129.30M 127.06M 127.44M 126.88M
Weighted Average Basic & Diluted Shares Outstanding		 44.40M 44.40M 120.68M 128.39M 128.55M 129.77M 128.87M 129.99M 129.69M 128.63M
Cash Dividends to Common per Share		 - - $1.60 $1.65 $0.30 $0.58 $0.79 $0.80 $0.72 $0.64

Quarterly Income Statements for BrightSpire Capital

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

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 9/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -57 -68 13 -20 5.34 -23 0.98 -14 4.85 -18 47
Consolidated Net Income / (Loss)		 -57 -69 11 -21 3.71 -25 -1.30 -16 3.12 -20 47
Net Income / (Loss) Continuing Operations		 -57 -69 11 -21 3.71 -25 -1.30 -16 3.12 -20 47
Total Pre-Tax Income 		-57 -68 12 -21 3.99 -47 -1.43 -16 3.22 -20 47
Total Revenue		 31 28 23 20 18 15 21 20 19 18 79
Net Interest Income / (Expense)		 27 25 21 17 16 17 18 17 16 17 18
Total Interest Income		 68 63 60 54 48 49 49 49 50 52 56
Investment Securities Interest Income		 68 63 60 54 48 49 49 49 50 52 56
Total Interest Expense		 40 38 39 37 32 32 31 32 33 35 38
Long-Term Debt Interest Expense		 40 38 39 37 32 32 31 32 33 35 38
Total Non-Interest Income		 3.43 2.78 2.55 2.83 2.38 -1.77 3.05 2.14 2.97 1.01 61
Other Service Charges		 3.10 2.92 2.51 3.06 2.62 1.59 2.51 1.33 2.97 1.04 0.35
Net Realized & Unrealized Capital Gains on Investments		 0.33 -0.14 0.04 -0.23 -0.24 -3.36 0.54 0.81 -0.00 -0.03 60
Total Non-Interest Expense		 88 97 12 41 14 62 22 36 16 38 32
Salaries and Employee Benefits		 8.77 9.58 8.19 8.10 10 8.19 8.08 8.29 9.06 8.99 9.20
Net Occupancy & Equipment Expense		 -16 -17 -18 -17 -17 -19 -13 -13 -13 -12 -12
Other Operating Expenses		 78 43 4.21 24 3.61 4.12 12 19 5.67 18 19
Depreciation Expense		 10 8.95 10 11 11 11 7.19 7.99 8.63 8.19 4.08
Impairment Charge		 - 45 0.00 - - 51 2.51 - - 9.27 5.99
Other Special Charges		 6.78 6.75 6.75 6.52 6.57 6.77 5.17 5.21 5.09 5.12 4.66
Income Tax Expense		 0.25 0.19 0.24 0.37 0.28 -22 -0.13 0.01 0.09 0.01 0.00
Other Gains / (Losses), net		 - - - - - 0.00 0.00 - - -0.60 0.00
Other Adjustment to Net Income / (Loss) Attributable to Common Shareholders)		 0.00 -0.82 -1.31 -1.41 -1.63 -2.05 - -1.64 -1.72 -1.85 0.30
Basic Earnings per Share		 ($0.45) ($0.53) $0.10 ($0.17) $0.04 ($0.19) $0.00 ($0.11) $0.03 ($0.15) $0.37
Weighted Average Basic Shares Outstanding		 127.33M 127.99M 127.52M 127.44M 127.08M 127.25M 126.94M 126.88M 125.93M 126.71M 122.32M
Diluted Earnings per Share		 ($0.45) ($0.53) $0.09 ($0.16) $0.04 ($0.19) $0.00 ($0.11) $0.03 ($0.15) $0.37
Weighted Average Diluted Shares Outstanding		 127.33M 127.99M 130.14M 127.44M 129.86M 127.25M 129.85M 126.88M 128.92M 126.71M 122.90M
Weighted Average Basic & Diluted Shares Outstanding		 130.64M 130.63M 129.69M 129.69M 130.46M 129.99M 129.73M 128.63M 130.28M 126.52M 124.68M

Annual Cash Flow Statements for BrightSpire Capital

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

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -32 -5.41 121 8.22 344 -193 52 -37 89 -277
Net Cash From Operating Activities		 89 107 101 137 96 -21 125 138 103 73
Net Cash From Continuing Operating Activities		 89 107 101 137 96 -21 125 138 103 73
Net Income / (Loss) Continuing Operations		 109 128 -177 -463 -376 -105 47 -16 -136 -39
Consolidated Net Income / (Loss)		 109 128 -177 -463 -376 -105 47 -16 -136 -39
Depreciation Expense		 0.15 9.14 91 103 60 36 34 34 41 36
Amortization Expense		 -2.14 -4.91 -3.73 -5.86 1.66 5.73 -2.87 -1.85 1.53 11
Non-Cash Adjustments to Reconcile Net Income		 -23 -17 164 305 407 61 -21 15 60 74
Changes in Operating Assets and Liabilities, net		 0.99 -8.44 26 -23 3.13 -20 68 107 136 -10
Net Cash From Investing Activities		 199 439 -468 -416 1,003 -556 89 384 313 -420
Net Cash From Continuing Investing Activities		 199 439 -468 -416 1,003 -556 89 384 313 -420
Purchase of Property, Leasehold Improvements and Equipment		 -0.07 -0.31 -415 -24 -23 -9.92 -3.97 -7.06 -6.09 -18
Purchase of Investment Securities		 -279 -217 -1,273 -1,398 -346 -1,770 -972 -77 -114 -769
Sale and/or Maturity of Investments		 518 671 898 883 1,301 989 1,022 459 442 371
Other Investing Activities, net		 -39 -15 323 7.96 -38 36 5.71 9.55 -8.47 -3.98
Net Cash From Financing Activities		 -320 -552 488 287 -754 384 -161 -559 -328 69
Net Cash From Continuing Financing Activities		 -320 -552 488 287 -754 384 -161 -559 -328 69
Issuance of Debt		 81 72 1,963 2,377 317 2,002 771 168 880 615
Issuance of Common Equity		 - - 0.29 - - - 0.00 0.00 0.02 0.00
Repayment of Debt		 -410 -344 -1,249 -1,847 -1,179 -1,301 -778 -613 -1,085 -440
Repurchase of Common Equity		 - - - - 0.00 0.00 -18 0.00 -6.59 -11
Payment of Dividends		 -200 -299 -210 -223 -53 -53 -101 -104 -99 -83
Other Financing Activities, Net		 209 19 -16 -20 161 -264 -36 -8.98 -18 -12
Effect of Exchange Rate Changes		 0.00 0.00 - 0.29 -0.69 -0.76 -0.90 0.08 0.07 1.12
Cash Interest Paid		 20 23 82 143 112 76 126 190 174 146
Cash Income Taxes Paid		 1.29 10 21 -3.09 -5.96 4.83 0.60 0.27 2.04 -1.87

Quarterly Cash Flow Statements for BrightSpire Capital

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

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 9/30/2026
Net Change in Cash & Equivalents		 -56 -18 150 12 -159 -40 -30 -48 15 -20 7.88
Net Cash From Operating Activities		 25 23 31 25 11 17 30 15 11 29 17
Net Cash From Continuing Operating Activities		 25 23 31 25 11 17 30 15 11 29 17
Net Income / (Loss) Continuing Operations		 -57 -69 11 -21 3.71 -25 -1.30 -16 3.12 -20 47
Consolidated Net Income / (Loss)		 -57 -69 11 -21 3.71 -25 -1.30 -16 3.12 -20 47
Depreciation Expense		 10 8.95 10 11 11 11 7.19 7.99 8.63 8.19 4.08
Amortization Expense		 0.66 0.39 0.01 0.48 1.72 1.63 2.82 5.11 3.91 4.72 3.76
Non-Cash Adjustments to Reconcile Net Income		 75 46 117 32 3.68 35 13 23 4.15 11 -51
Changes in Operating Assets and Liabilities, net		 -4.61 36 -107 2.48 -9.16 -4.75 8.03 -4.46 -8.88 26 13
Net Cash From Investing Activities		 79 67 89 77 14 -82 -20 -332 -90 -158 -64
Net Cash From Continuing Investing Activities		 79 67 89 77 14 -82 -20 -332 -90 -158 -64
Purchase of Property, Leasehold Improvements and Equipment		 -2.37 0.13 -3.01 -0.84 -2.51 -5.88 -2.45 -7.11 -1.63 -0.50 -1.91
Purchase of Investment Securities		 -15 -18 -14 -67 -113 -98 -140 -419 -270 -289 -276
Sale and/or Maturity of Investments		 117 84 102 139 139 13 132 88 198 123 202
Other Investing Activities, net		 -20 0.76 4.73 5.86 -9.95 8.71 -9.25 6.00 -16 8.68 11
Net Cash From Financing Activities		 -159 -108 30 -90 -183 25 -40 268 94 109 55
Net Cash From Continuing Financing Activities		 -159 -108 30 -90 -183 25 -40 268 94 109 55
Issuance of Debt		 12 - 868 0.15 49 67 113 386 1,428 343 307
Repayment of Debt		 -141 -78 -798 -68 -208 -13 -131 -88 -1,300 -190 -221
Repurchase of Common Equity		 - - - - - - -0.96 -5.96 - - -9.94
Payment of Dividends		 -26 -26 -26 -21 -21 -21 -21 -21 -22 -21 -20
Other Financing Activities, Net		 -4.05 -3.90 -7.72 -1.94 -4.38 -4.28 -0.21 -3.57 -12 -3.38 -0.57
Cash Interest Paid		 - - - - 35 - - - 36 38 40
Cash Income Taxes Paid		 - - - - -0.71 - - - 0.00 -10 -0.01

Annual Balance Sheets for BrightSpire Capital

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,839 8,661 7,414 6,212 5,638 4,750 4,198 3,723 3,565
Cash and Due from Banks		 25 77 70 475 260 306 258 302 67
Restricted Cash		 42 110 126 65 87 93 105 149 107
Loans and Leases, Net of Allowance		 0.00 0.00 2,576 2,183 3,449 3,469 2,860 2,353 2,591
Loans and Leases		 - - 2,849 2,221 3,486 3,575 2,937 2,519 2,678
Allowance for Loan and Lease Losses		 - - 273 37 37 106 76 166 87
Premises and Equipment, Net		 220 1,960 1,485 839 783 732 808 777 680
Deferred Acquisition Cost		 - 134 - 76 65 54 59 47 28
Other Assets		 241 4,131 2,792 795 181 96 109 95 93
Total Liabilities & Shareholders' Equity		 1,839 8,661 7,414 6,212 5,638 4,750 4,198 3,723 3,565
Total Liabilities		 432 5,816 5,213 4,253 4,147 3,361 2,920 2,678 2,636
Interest Bearing Deposits		 - 66 - 37 73 79 89 80 83
Short-Term Debt		 0.00 1,366 1,099 535 905 1,340 1,153 785 1,078
Other Short-Term Payables		 - 34 - 10 24 26 26 21 21
Long-Term Debt		 390 1,254 3,863 1,858 2,261 1,824 1,563 1,706 1,391
Other Long-Term Liabilities		 5.21 3,095 176 1,813 883 92 90 85 64
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,408 2,845 2,201 1,959 1,491 1,389 1,278 1,046 928
Total Preferred & Common Equity		 1,080 2,707 2,119 1,666 1,455 1,388 1,277 1,048 938
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,080 2,707 2,119 1,666 1,455 1,388 1,277 1,048 938
Common Stock		 821 2,901 2,910 2,845 2,857 2,855 2,866 2,867 2,865
Retained Earnings		 259 -193 -820 -1,234 -1,411 -1,467 -1,586 -1,812 -1,926
Noncontrolling Interest		 328 138 82 293 36 1.26 1.13 -2.41 -10

Quarterly Balance Sheets for BrightSpire Capital

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

Metric Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026 9/30/2026
Total Assets		 4,355 4,353 3,947 3,778 3,838 3,551 3,409 3,304 3,648 3,748 3,668
Cash and Due from Banks		 218 236 222 203 264 201 154 113 97 68 64
Restricted Cash		 85 97 85 85 175 91 97 108 93 102 114
Loans and Leases, Net of Allowance		 3,113 3,056 2,687 2,583 2,431 2,302 2,256 2,236 2,645 2,795 2,976
Loans and Leases		 3,220 3,145 2,838 2,754 2,586 2,458 2,392 2,363 2,730 2,894 3,082
Allowance for Loan and Lease Losses		 107 89 150 171 155 155 137 127 85 99 106
Premises and Equipment, Net		 771 775 789 737 775 782 733 720 691 450 413
Deferred Acquisition Cost		 58 60 55 50 50 47 35 36 28 4.34 3.74
Other Assets		 110 128 109 119 144 128 134 91 95 328 97
Total Liabilities & Shareholders' Equity		 4,355 4,353 3,947 3,778 3,838 3,551 3,409 3,304 3,648 3,748 3,668
Total Liabilities		 3,032 3,037 2,757 2,679 2,752 2,520 2,421 2,336 2,742 2,898 2,798
Interest Bearing Deposits		 67 80 69 70 74 70 75 76 67 76 88
Short-Term Debt		 1,217 1,207 1,032 999 848 733 790 779 772 926 1,060
Other Short-Term Payables		 26 26 26 26 21 21 21 21 22 22 22
Long-Term Debt		 1,637 1,637 1,546 1,504 1,722 1,611 1,465 1,392 1,820 1,619 1,574
Other Long-Term Liabilities		 84 87 85 81 86 85 71 69 61 255 54
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,323 1,315 1,190 1,099 1,087 1,031 988 968 906 849 870
Total Preferred & Common Equity		 1,321 1,314 1,189 1,099 1,088 1,035 994 976 918 863 883
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,321 1,314 1,189 1,099 1,088 1,035 994 976 918 863 883
Common Stock		 2,858 2,863 2,864 2,867 2,864 2,867 2,866 2,868 2,863 2,847 2,840
Retained Earnings		 -1,530 -1,544 -1,669 -1,764 -1,772 -1,828 -1,872 -1,891 -1,945 -1,984 -1,957
Noncontrolling Interest		 1.11 1.12 1.13 0.30 -1.00 -4.04 -6.10 -8.38 -12 -14 -13

Annual Metrics And Ratios for BrightSpire Capital

This table displays calculated financial ratios and metrics derived from BrightSpire Capital's official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 0.00 0.00 127,886,796.00 128,538,703.00 128,582,965.00 129,764,822.00 - - - 129,732,929.00
DEI Adjusted Shares Outstanding		 0.00 0.00 127,886,796.00 128,538,703.00 128,582,965.00 129,764,822.00 - - - 129,732,929.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 0.00 -1.39 -3.60 -2.92 -0.81 - - - -0.30
Growth Metrics		 - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - -
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.60 $1.86 ($1.41) $0.00 ($2.75) ($0.79) $0.35 ($0.12) ($1.05) ($0.26)
Adjusted Weighted Average Basic Shares Outstanding		 44.40M 44.40M 127.81M 128.52M 129.98M 128.50M 127.30M 127.06M 127.44M 126.88M
Adjusted Diluted Earnings per Share		 $1.60 $1.86 ($1.41) $0.00 ($2.75) ($0.79) $0.34 ($0.12) ($1.05) ($0.26)
Adjusted Weighted Average Diluted Shares Outstanding		 44.40M 44.40M 127.81M 128.52M 129.98M 128.50M 129.30M 127.06M 127.44M 126.88M
Adjusted Basic & Diluted Earnings per Share		 $1.60 $1.86 ($1.41) $0.00 ($2.75) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 44.40M 44.40M 120.68M 128.52M 128.55M 129.77M 128.87M 129.99M 129.69M 128.63M
Debt Service Ratios		 - - - - - - - - - -
Payout Ratios		 - - - - - - - - - -

Quarterly Metrics And Ratios for BrightSpire Capital

This table displays calculated financial ratios and metrics derived from BrightSpire Capital's official financial filings.

Metric Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026 9/30/2026
DEI Shares Outstanding		 - - - - 129,685,185.00 130,461,995.00 129,993,935.00 129,732,929.00 128,627,246.00 130,278,065.00 126,524,180.00
DEI Adjusted Shares Outstanding		 - - - - 129,685,185.00 130,461,995.00 129,993,935.00 129,732,929.00 128,627,246.00 130,278,065.00 126,524,180.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - 0.03 -0.19 -0.01 -0.12 0.02 -0.15 0.37
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -15.83% -16.75% -32.77% -42.00% -40.86% -46.63% -11.60% - 4.58% 21.94% 283.63%
EBITDA Growth		 -619.93% -7,365.72% 3.31% -23.50% 135.63% 41.50% -60.60% - -3.14% 80.68% 558.64%
EBIT Growth		 -341.87% -852.82% -7.05% -29.00% 107.02% 31.62% -112.28% - -19.37% 58.21% 3,394.84%
NOPAT Growth		 -341.87% -852.82% -7.84% -29.00% 109.32% 31.62% -108.78% - -15.78% 58.21% 4,806.91%
Net Income Growth		 -1,259.04% -816.02% -7.84% -29.65% 106.49% 63.35% -111.42% - -15.78% 19.82% 3,722.24%
EPS Growth		 -1,400.00% -783.33% 0.00% -33.33% 108.89% 64.15% -100.00% - -25.00% 21.05% 0.00%
Operating Cash Flow Growth		 -38.05% -1.00% -18.69% -32.14% -57.27% -23.74% -4.48% - 4.07% 68.79% -44.27%
Free Cash Flow Firm Growth		 39.00% -32.55% -33.66% -19.25% -35.86% -38.32% 0.63% - -130.30% -150.83% -161.35%
Invested Capital Growth		 -14.85% -13.78% -12.08% -11.44% -10.41% -9.95% -14.17% - 3.65% 4.68% 11.61%
Revenue Q/Q Growth		 -11.77% -9.17% -16.97% -12.84% -10.03% -18.04% 37.55% - -2.73% -4.44% 332.73%
EBITDA Q/Q Growth		 -513.32% -29.11% 136.79% -142.39% 276.96% -311.98% 124.78% - 644.08% -142.30% 926.51%
EBIT Q/Q Growth		 -252.98% -20.46% 117.03% -278.12% 119.20% -1,273.83% 96.94% - 120.12% -708.39% 341.24%
NOPAT Q/Q Growth		 -252.98% -20.46% 123.82% -227.35% 125.49% -984.17% 96.94% - 127.90% -538.69% 444.63%
Net Income Q/Q Growth		 -250.11% -20.27% 116.63% -285.17% 117.53% -778.86% 94.82% - 119.52% -746.30% 334.02%
EPS Q/Q Growth		 -275.00% -17.78% 116.98% -277.78% 125.00% -575.00% 100.00% - 127.27% -600.00% 346.67%
Operating Cash Flow Q/Q Growth		 -32.49% -7.03% 36.87% -21.01% -57.49% 65.95% 71.43% - -28.22% 169.15% -43.40%
Free Cash Flow Firm Q/Q Growth		 12.64% -14.47% -2.62% -13.92% -10.54% -17.75% 58.87% - -193.48% -37.98% -91.74%
Invested Capital Q/Q Growth		 -5.68% -4.39% 1.54% -3.28% -4.58% -3.91% -3.22% - 2.96% -2.95% 3.19%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 -148.44% -210.99% 93.49% -45.47% 89.43% -231.31% 41.67% - 82.52% -36.52% 69.76%
EBIT Margin		 -184.24% -244.33% 50.12% -102.43% 21.86% -313.10% -6.96% - 16.85% -107.30% 59.82%
Profit (Net Income) Margin		 -185.05% -245.03% 49.07% -104.25% 20.32% -168.27% -6.34% - 16.36% -110.65% 59.84%
Tax Burden Percent		 100.44% 100.28% 97.91% 101.78% 92.93% 53.75% 91.00% - 97.08% 103.13% 100.04%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00% 100.00% 100.00%
Effective Tax Rate		 0.00% 0.00% 2.09% 0.00% 7.07% 0.00% 0.00% - 2.92% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -4.22% -5.65% 1.47% -1.95% 0.51% -4.92% -0.11% - 0.35% -1.75% 2.45%
ROIC Less NNEP Spread (ROIC-NNEP)		 -4.84% -6.42% 1.47% -2.20% 0.51% -4.60% -0.12% - 0.35% -2.02% 2.45%
Return on Net Nonoperating Assets (RNNOA)		 -10.73% -14.21% 3.32% -4.94% 1.13% -10.48% -0.27% - 0.90% -5.29% 6.40%
Return on Equity (ROE)		 -14.96% -19.86% 4.79% -6.89% 1.64% -15.39% -0.38% - 1.25% -7.04% 8.85%
Cash Return on Invested Capital (CROIC)		 14.88% 12.48% 10.53% 9.63% 9.53% 9.41% 13.91% - -4.82% -5.28% -10.53%
Operating Return on Assets (OROA)		 -5.78% -7.72% 1.43% -2.65% 0.52% -6.69% -0.14% - 0.35% -2.32% 2.33%
Return on Assets (ROA)		 -5.81% -7.74% 1.40% -2.70% 0.49% -3.59% -0.13% - 0.34% -2.40% 2.33%
Return on Common Equity (ROCE)		 -14.94% -19.85% 4.79% -6.89% 1.65% -15.44% -0.38% - 1.26% -7.12% 8.95%
Return on Equity Simple (ROE_SIMPLE)		 -5.76% -11.81% -12.02% 0.00% -7.22% -3.14% -4.50% - -4.29% -3.98% 1.60%
Net Operating Profit after Tax (NOPAT)		 -40 -48 11 -15 3.71 -33 -1.00 - 3.12 -14 47
NOPAT Margin		 -128.96% -171.03% 49.07% -71.70% 20.32% -219.17% -4.88% - 16.36% -75.11% 59.82%
Net Nonoperating Expense Percent (NNEP)		 0.61% 0.77% 0.00% 0.25% 0.00% -0.32% 0.01% - 0.00% 0.27% 0.00%
SG&A Expenses to Revenue		 -24.92% -27.46% -40.51% -44.84% -35.41% -72.36% -23.25% - -18.44% -16.07% -3.14%
Operating Expenses to Revenue		 284.24% 344.33% 49.88% 202.43% 78.14% 413.10% 106.96% - 83.15% 207.30% 40.19%
Earnings before Interest and Taxes (EBIT)		 -57 -68 12 -21 3.99 -47 -1.43 - 3.22 -20 47
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -46 -59 22 -9.22 16 -35 8.57 - 16 -6.66 55
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.73 0.68 0.67 0.70 0.70 0.66 0.72 - 0.78 0.82 0.55
Price to Tangible Book Value (P/TBV)		 0.73 0.68 0.67 0.70 0.70 0.66 0.72 - 0.78 0.82 0.55
Price to Revenue (P/Rev)		 6.45 5.80 6.24 7.14 8.03 8.58 9.53 - 9.70 9.16 3.57
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 25.39
Dividend Yield		 12.03% 14.04% 13.57% 12.77% 12.23% 12.67% 11.79% - 11.43% 11.74% 16.71%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00% 0.00% 3.94%
Enterprise Value to Invested Capital (EV/IC)		 0.83 0.82 0.78 0.78 0.82 0.82 0.84 - 0.89 0.91 0.84
Enterprise Value to Revenue (EV/Rev)		 23.39 23.03 24.43 27.03 30.83 34.60 35.73 - 41.90 39.63 21.54
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 208.75 47.66
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 196.86
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 198.38
Enterprise Value to Operating Cash Flow (EV/OCF)		 25.60 24.19 24.86 26.78 31.00 31.66 32.08 - 42.36 35.96 40.54
Enterprise Value to Free Cash Flow (EV/FCFF)		 5.15 6.09 6.95 7.63 8.13 8.25 5.60 - 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 2.17 2.28 2.37 2.38 2.27 2.28 2.24 - 2.86 3.00 3.03
Long-Term Debt to Equity		 1.30 1.37 1.59 1.63 1.56 1.48 1.44 - 2.01 1.91 1.81
Financial Leverage		 2.22 2.21 2.25 2.24 2.22 2.28 2.31 - 2.55 2.61 2.61
Leverage Ratio		 3.36 3.36 3.41 3.41 3.38 3.44 3.48 - 3.72 3.89 3.79
Compound Leverage Factor		 3.36 3.36 3.41 3.41 3.38 3.44 3.48 - 3.72 3.89 3.79
Debt to Total Capital		 68.41% 69.48% 70.29% 70.43% 69.46% 69.53% 69.16% - 74.10% 74.98% 75.17%
Short-Term Debt to Total Capital		 27.38% 27.73% 23.20% 22.20% 21.73% 24.35% 24.81% - 22.08% 27.28% 30.25%
Long-Term Debt to Total Capital		 41.03% 41.75% 47.09% 48.23% 47.72% 45.18% 44.35% - 52.02% 47.70% 44.92%
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%
Noncontrolling Interests to Total Capital		 0.03% 0.01% -0.03% -0.07% -0.12% -0.19% -0.27% - -0.34% -0.40% -0.38%
Common Equity to Total Capital		 31.56% 30.51% 29.74% 29.63% 30.66% 30.66% 31.11% - 26.24% 25.42% 25.21%
Debt to EBITDA		 -82.07 -27.39 -28.35 -26.96 -77.41 -392.66 -114.69 - -197.73 172.96 42.88
Net Debt to EBITDA		 -72.32 -24.23 -23.51 -22.08 -67.77 -348.83 -102.98 - -183.29 161.43 39.99
Long-Term Debt to EBITDA		 -49.22 -16.46 -18.99 -18.46 -53.19 -255.15 -73.55 - -138.81 110.03 25.62
Debt to NOPAT		 -54.46 -27.73 -28.29 -26.47 -45.49 -62.00 -47.67 - -60.66 -107.66 178.47
Net Debt to NOPAT		 -47.99 -24.53 -23.46 -21.68 -39.83 -55.08 -42.80 - -56.23 -100.49 166.44
Long-Term Debt to NOPAT		 -32.66 -16.67 -18.96 -18.13 -31.26 -40.29 -30.57 - -42.59 -68.49 106.65
Noncontrolling Interest Sharing Ratio		 0.09% 0.06% 0.00% -0.05% -0.13% -0.28% -0.46% - -0.82% -1.07% -1.18%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 617 528 514 442 396 326 517 - -120 -165 -317
Operating Cash Flow to CapEx		 1,037.88% 0.00% 1,037.62% 2,933.97% 417.70% 296.61% 1,220.30% - 670.84% 5,882.60% 870.71%
Free Cash Flow to Firm to Interest Expense		 15.37 13.86 13.22 12.00 12.29 10.19 16.49 - -3.59 -4.75 -8.37
Operating Cash Flow to Interest Expense		 0.61 0.60 0.80 0.67 0.33 0.55 0.95 - 0.33 0.84 0.44
Operating Cash Flow Less CapEx to Interest Expense		 0.55 0.60 0.73 0.65 0.25 0.36 0.87 - 0.28 0.83 0.39
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.03 0.03 0.03 0.02 0.02 0.02 - 0.02 0.02 0.04
Fixed Asset Turnover		 0.18 0.17 0.15 0.13 0.11 0.10 0.10 - 0.10 0.13 0.24
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,767 3,602 3,657 3,537 3,375 3,243 3,139 - 3,498 3,395 3,503
Invested Capital Turnover		 0.03 0.03 0.03 0.03 0.03 0.02 0.02 - 0.02 0.02 0.04
Increase / (Decrease) in Invested Capital		 -657 -576 -502 -457 -392 -358 -518 - 123 152 364
Enterprise Value (EV)		 3,137 2,959 2,862 2,770 2,769 2,656 2,647 - 3,111 3,072 2,927
Market Capitalization		 865 745 732 731 721 659 706 - 720 710 485
Book Value per Share		 $9.34 $8.41 $8.33 $8.08 $7.98 $7.62 $7.51 - $7.14 $6.62 $6.98
Tangible Book Value per Share		 $9.34 $8.41 $8.33 $8.08 $7.98 $7.62 $7.51 - $7.14 $6.62 $6.98
Total Capital		 3,767 3,602 3,657 3,537 3,375 3,243 3,139 - 3,498 3,395 3,503
Total Debt		 2,577 2,503 2,570 2,491 2,344 2,255 2,171 - 2,592 2,546 2,634
Total Long-Term Debt		 1,546 1,504 1,722 1,706 1,611 1,465 1,392 - 1,820 1,619 1,574
Net Debt		 2,271 2,214 2,131 2,041 2,052 2,003 1,949 - 2,403 2,376 2,456
Capital Expenditures (CapEx)		 2.37 -0.13 3.01 0.84 2.51 5.88 2.45 - 1.63 0.50 1.91
Net Nonoperating Expense (NNE)		 17 21 0.00 6.60 0.00 -7.61 0.30 - 0.00 6.48 -0.02
Net Nonoperating Obligations (NNO)		 2,577 2,503 2,570 2,491 2,344 2,255 2,171 - 2,592 2,546 2,634
Total Depreciation and Amortization (D&A)		 11 9.35 10 12 12 12 10 - 13 13 7.85
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.45) ($0.53) $0.10 ($0.17) $0.04 ($0.19) $0.00 ($0.11) $0.03 ($0.15) $0.37
Adjusted Weighted Average Basic Shares Outstanding		 127.33M 127.99M 127.52M 127.44M 127.08M 127.25M 126.94M 126.88M 125.93M 126.71M 122.32M
Adjusted Diluted Earnings per Share		 ($0.45) ($0.53) $0.09 ($0.16) $0.04 ($0.19) $0.00 ($0.11) $0.03 ($0.15) $0.37
Adjusted Weighted Average Diluted Shares Outstanding		 127.33M 127.99M 130.14M 127.44M 129.86M 127.25M 129.85M 126.88M 128.92M 126.71M 122.90M
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		 130.64M 130.63M 129.69M 129.69M 130.46M 129.99M 129.73M 128.63M 130.28M 126.52M 124.68M
Normalized Net Operating Profit after Tax (NOPAT)		 -35 -12 18 -9.98 9.81 7.74 4.37 - 8.07 -3.63 40
Normalized NOPAT Margin		 -113.58% -41.27% 77.45% -49.20% 53.74% 51.74% 21.25% - 42.25% -19.88% 51.31%
Pre Tax Income Margin		 -184.24% -244.33% 50.12% -102.43% 21.86% -313.10% -6.96% - 16.85% -107.30% 59.82%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -1.42 -1.80 0.30 -0.56 0.12 -1.47 -0.05 - 0.10 -0.56 1.25
NOPAT to Interest Expense		 -0.99 -1.26 0.29 -0.39 0.12 -1.03 -0.03 - 0.09 -0.39 1.25
EBIT Less CapEx to Interest Expense		 -1.48 -1.80 0.22 -0.59 0.05 -1.65 -0.12 - 0.05 -0.58 1.20
NOPAT Less CapEx to Interest Expense		 -1.05 -1.26 0.22 -0.42 0.04 -1.21 -0.11 - 0.04 -0.41 1.20
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -151.75% -80.20% -79.79% -73.10% -125.58% -283.99% -189.47% - -213.87% -244.97% 589.92%
Augmented Payout Ratio		 -151.75% -80.20% -84.83% -77.96% -125.58% -317.98% -200.79% - -213.87% -321.85% 839.65%

Financials Breakdown Chart

Key Financial Trends

BrightSpire Capital’s (NYSE: BRSP) financial statements show a mixed recovery through the second quarter of 2026. The company has maintained positive operating cash flow and improved significantly from the large losses reported during 2024. However, earnings remain volatile, the balance sheet has contracted, and common equity has continued to decline.

  • Net interest income improved sequentially. Q2 2026 net interest income was $17.2 million, up from $16.1 million in Q1 2026 and $16.7 million in Q2 2025. This reflects a modest improvement despite the longer-term decline in interest income from $75.6 million in Q1 2023 to $52.1 million in Q2 2026.
  • Operating cash flow has remained positive. BrightSpire generated $29.4 million of operating cash flow in Q2 2026, compared with $10.9 million in Q1 2026 and $17.4 million in Q2 2025. Operating cash flow has been positive in every reported quarter in the supplied period, even when net income was negative.
  • Core profitability has improved from the 2024 trough. BrightSpire reported common-shareholder losses of $67.9 million in Q2 2024 and $23.1 million in Q2 2025, but the loss narrowed to $18.3 million in Q2 2026. The company also posted common-shareholder profits in Q1 2025, Q3 2025 and Q1 2026.
  • Loan balances increased during the first half of 2026. Net loans and leases rose from $2.645 billion at March 31, 2026, to $2.795 billion at June 30, 2026. This suggests the company has begun redeploying capital after the significant portfolio contraction seen since 2023.
  • Liquidity remained supported by cash and restricted cash. BrightSpire held approximately $170.7 million in cash and restricted cash at the end of Q2 2026. In addition, positive operating cash flow and access to debt financing helped fund investment activity and dividends.
  • Cash flow was heavily dependent on financing activity. Q2 2026 investing cash flow was negative $157.8 million, primarily because the company purchased $289.1 million of investment securities while selling or receiving maturities of $123.1 million. Net financing cash flow of $108.8 million, including $342.5 million of debt issuance, partially offset the investment outflow.
  • The loan portfolio has changed materially over time. Net loans and leases fell from $3.349 billion in Q1 2023 to $2.236 billion in Q3 2025 before recovering to $2.795 billion in Q2 2026. This reduction lowered overall asset exposure but also contributed to the long-term decline in interest income.
  • Q2 2026 returned to a loss. BrightSpire reported a consolidated net loss of $20.2 million and a loss attributable to common shareholders of $18.3 million, or $0.15 per share, compared with common earnings of $4.8 million, or $0.03 per share, in Q1 2026.
  • Impairment and special charges remain significant risks. Q2 2026 included a $9.3 million impairment charge and $5.1 million of other special charges. These costs contributed to total non-interest expense of $37.8 million, more than double Q1 2026’s $15.9 million.
  • Capital support for the dividend appears pressured. BrightSpire paid $20.8 million in common dividends during Q2 2026 while reporting an $18.3 million loss attributable to common shareholders. Although operating cash flow exceeded the dividend payment, the recurring gap between accounting earnings and the dividend warrants monitoring.
  • Balance-sheet equity and leverage have deteriorated. Total equity and noncontrolling interests declined from $1.355 billion in Q1 2023 to $849.4 million in Q2 2026. At the latest quarter, total liabilities of $2.898 billion were approximately 3.4 times total equity, while short- and long-term debt totaled roughly $2.54 billion.
  • Credit-loss reserves increased as a percentage of loans. The allowance for loan and lease losses rose from $85.3 million in Q1 2026 to $98.7 million in Q2 2026. The allowance represented approximately 3.4% of gross loans at the end of Q2, up from roughly 3.1% at the end of Q1, signaling higher perceived portfolio risk.

Overall, BrightSpire appears to be stabilizing operationally, with positive operating cash flow, modest sequential growth in net interest income and renewed loan growth. Nevertheless, the company’s investment income remains below historical levels, earnings are inconsistent, and leverage and credit-loss trends remain important risks for shareholders. The sustainability of the dividend will likely depend on whether recent portfolio growth can produce more consistent recurring earnings without a renewed increase in impairments.

11/15/26 02:25 AM ETAI Generated. May Contain Errors.

BrightSpire Capital Financials - Frequently Asked Questions

According to the most recent income statement we have on file, BrightSpire Capital's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

BrightSpire Capital's net income appears to be on a downward trend, with a most recent value of -$38.77 million in 2025, compared with $109.02 million in 2016. The previous period was -$135.52 million in 2024. Find out what analysts predict for BrightSpire Capital in the coming months.

Over the last 9 years, BrightSpire Capital's total revenue changed from $114.98 million in 2016 to $73.41 million in 2025, a change of -36.2%.

In the past 13 quarters, BrightSpire Capital's cash and equivalents has ranged from $63.60 million in Q3 2026 to $263.76 million in Q3 2024, and is currently $63.60 million as of their latest financial filing in Q3 2026.


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Financial statements for NYSE:BRSP last updated on 10/28/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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