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Franklin Street Properties (FSP) Financials

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$0.47 0.00 (-0.25%)
Closing price 04:00 PM Eastern
Extended Trading
$0.48 +0.00 (+0.74%)
As of 04:29 PM Eastern
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Annual Income Statements for Franklin Street Properties

Annual Income Statements for Franklin Street Properties

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 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		 35 8.38 -16 13 6.48 33 93 1.09 -48 -53 -45
Consolidated Net Income / (Loss)		 35 8.38 -16 13 6.48 33 93 1.09 -48 -53 -45
Net Income / (Loss) Continuing Operations		 35 8.38 -16 6.28 6.48 33 92 1.09 -48 -53 -45
Total Pre-Tax Income 		35 8.80 -12 6.64 6.74 33 93 1.30 -48 -53 -45
Total Revenue		 244 250 222 230 232 252 176 166 146 121 108
Net Interest Income / (Expense)		 0.00 0.00 -32 -38 -37 -36 -32 0.00 0.57 2.09 0.99
Total Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.57 2.09 0.99
Investment Securities Interest Income		 0.00 - - - - - 0.00 0.00 0.57 2.09 0.99
Total Interest Expense		 0.00 0.00 32 38 37 36 32 0.00 0.00 0.00 0.00
Total Non-Interest Income		 244 250 254 269 269 288 208 166 146 119 107
Other Service Charges		 6.01 - - - - - - - 0.26 0.03 0.00
Net Realized & Unrealized Capital Gains on Investments		 - - -18 0.00 0.00 42 -0.90 -0.08 -0.11 -1.04 -0.01
Other Non-Interest Income		 238 250 273 269 269 246 209 166 145 120 107
Total Non-Interest Expense		 232 242 232 224 226 219 83 160 194 174 153
Other Operating Expenses		 141 146 131 130 135 130 117 124 116 108 97
Depreciation Expense		 91 93 101 94 91 89 79 64 55 45 43
Impairment Charge		 - - - - - 0.00 -113 -28 23 21 13
Other Special Charges		 - 2.94 - - - - - 0.00 -0.39 0.00 0.00
Income Tax Expense		 0.43 0.42 0.40 0.36 0.27 0.25 0.64 0.20 0.28 0.22 0.19
Basic Earnings per Share		 $0.35 $0.08 ($0.15) $0.12 $0.06 $0.30 $0.87 $0.01 ($0.47) ($0.51) ($0.43)
Weighted Average Basic Shares Outstanding		 100.19M 102.84M 107.23M 107.23M 107.23M 107.30M 106.67M 103.34M 103.36M 103.51M 103.64M
Diluted Earnings per Share		 $0.35 $0.08 ($0.15) $0.12 $0.06 $0.30 $0.87 $0.01 ($0.47) ($0.51) ($0.43)
Weighted Average Diluted Shares Outstanding		 100.19M 102.84M 107.23M 107.23M 107.23M 107.30M 106.67M 103.34M 103.36M 103.51M 103.64M
Weighted Average Basic & Diluted Shares Outstanding		 100.19M 102.84M 107.23M 107.23M 107.23M 107.30M 104.00M 103.24M 103.43M 103.57M 103.69M
Cash Dividends to Common per Share		 $0.76 $0.76 $0.76 $0.46 $0.36 $0.36 $0.68 $0.20 $0.04 $0.04 $0.04

Quarterly Income Statements for Franklin Street Properties

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 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
Net Income / (Loss) Attributable to Common Shareholders		 -46 3.58 -7.55 -21 -16 -8.53 -21 -7.88 -8.33 -7.32 -9.53
Consolidated Net Income / (Loss)		 -46 3.58 -7.55 -21 -16 -8.53 -21 -7.88 -8.33 -7.32 -9.53
Net Income / (Loss) Continuing Operations		 -46 3.58 -7.55 -21 -16 -8.53 -21 -7.88 -8.33 -7.32 -9.53
Total Pre-Tax Income 		-46 3.64 -7.49 -21 -16 -8.47 -21 -7.79 -8.32 -7.27 -9.47
Total Revenue		 37 41 32 31 30 35 27 27 28 26 25
Net Interest Income / (Expense)		 0.00 6.37 1.01 0.35 0.34 7.24 0.26 0.25 0.25 0.23 0.16
Total Interest Income		 0.00 0.57 1.01 0.35 0.34 0.39 0.26 0.25 0.25 0.23 0.16
Investment Securities Interest Income		 0.00 0.57 1.01 0.35 0.34 0.39 0.26 0.25 0.25 0.23 0.16
Total Interest Expense		 0.00 -5.81 0.00 0.00 0.00 -6.85 0.00 0.00 0.00 - 0.00
Total Non-Interest Income		 37 35 31 31 29 28 27 27 27 26 25
Net Realized & Unrealized Capital Gains on Investments		 -0.04 - -0.14 0.00 -0.48 -0.43 -0.00 -0.00 -0.01 - -1.27
Other Non-Interest Income		 37 35 31 31 30 28 27 27 27 26 26
Total Non-Interest Expense		 82 38 40 52 45 44 49 35 36 34 35
Other Operating Expenses		 29 34 28 27 27 33 25 25 25 23 24
Depreciation Expense		 13 12 12 11 11 11 11 11 11 11 11
Impairment Charge		 40 -8.70 0.01 13 7.25 0.37 13 -0.38 0.00 0.00 0.00
Income Tax Expense		 0.07 0.07 0.06 0.05 0.06 0.05 0.05 0.08 0.00 0.05 0.05
Basic Earnings per Share		 ($0.44) $0.03 ($0.07) ($0.20) ($0.15) ($0.09) ($0.21) ($0.08) ($0.08) ($0.06) ($0.09)
Weighted Average Basic Shares Outstanding		 103.43M 103.36M 103.43M 103.48M 103.57M 103.51M 103.57M 103.61M 103.69M 103.64M 103.69M
Diluted Earnings per Share		 ($0.44) $0.03 ($0.07) ($0.20) ($0.15) ($0.09) ($0.21) ($0.08) ($0.08) ($0.06) ($0.09)
Weighted Average Diluted Shares Outstanding		 103.43M 103.36M 103.43M 103.48M 103.57M 103.51M 103.57M 103.61M 103.69M 103.64M 103.69M
Weighted Average Basic & Diluted Shares Outstanding		 103.43M 103.43M 103.43M 103.57M 103.57M 103.57M 103.57M 103.69M 103.69M 103.69M 103.69M
Cash Dividends to Common per Share		 $0.01 - $0.01 $0.01 $0.01 - $0.01 $0.01 $0.01 - $0.01

Annual Cash Flow Statements for Franklin Street Properties

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 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		 11 -8.82 0.45 1.36 -1.39 -5.64 37 -34 121 -85 -12
Net Cash From Operating Activities		 103 94 96 80 82 68 36 15 18 8.99 3.75
Net Cash From Continuing Operating Activities		 103 94 96 80 82 68 36 15 18 8.99 3.75
Net Income / (Loss) Continuing Operations		 35 8.38 -16 13 6.48 33 93 1.09 -48 -53 -45
Consolidated Net Income / (Loss)		 35 8.38 -16 13 6.48 33 93 1.09 -48 -53 -45
Depreciation Expense		 93 95 104 97 94 92 81 66 57 48 45
Amortization Expense		 -0.16 -0.50 -1.03 -0.56 -0.40 -0.31 -0.03 -0.12 -3.90 -0.37 0.00
Non-Cash Adjustments to Reconcile Net Income		 -25 -0.09 22 -5.48 -8.54 -43 -116 -33 24 24 13
Changes in Operating Assets and Liabilities, net		 -0.54 -8.63 -13 -24 -9.34 -12 -22 -22 -11 -9.77 -9.90
Net Cash From Investing Activities		 -38 -245 -5.09 26 -20 11 505 74 114 70 -10
Net Cash From Continuing Investing Activities		 -38 -245 -5.09 26 -20 11 505 74 114 70 -10
Purchase of Property, Leasehold Improvements and Equipment		 -22 -37 -54 -51 -71 -78 -65 -55 -32 -25 -16
Sale of Property, Leasehold Improvements and Equipment		 85 27 38 0.00 0.00 89 573 129 142 95 6.11
Other Investing Activities, net		 -25 37 10 1.06 50 0.00 -3.00 0.00 3.05 0.00 0.00
Net Cash From Financing Activities		 -54 142 -90 -104 -64 -85 -505 -123 -10 -164 -5.56
Net Cash From Continuing Financing Activities		 -54 142 -90 -104 -64 -85 -505 -123 -10 -164 -5.56
Issuance of Debt		 110 325 275 38 45 105 92 90 77 0.00 0.00
Repayment of Debt		 -88 -185 -277 -93 -70 -152 -540 -152 -85 -155 -1.41
Payment of Dividends		 -76 -77 -81 -49 -39 -39 -38 -54 -4.13 -4.14 -4.15
Other Financing Activities, Net		 - -4.26 -6.90 - -0.08 0.00 0.00 -2.56 1.88 -5.66 0.00
Cash Interest Paid		 23 24 30 36 34 33 30 21 26 24 22
Cash Income Taxes Paid		 0.80 0.49 0.58 0.49 0.51 0.48 0.45 0.67 0.34 0.39 0.24

Quarterly Cash Flow Statements for Franklin Street Properties

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 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
Net Change in Cash & Equivalents		 6.35 115 -90 -6.28 11 0.31 -11 -1.04 1.06 -1.00 -6.82
Net Cash From Operating Activities		 11 6.32 -7.09 -0.65 14 2.25 -5.48 -2.88 8.28 3.83 -5.15
Net Cash From Continuing Operating Activities		 11 6.32 -7.09 -0.65 14 2.25 -5.48 -2.88 8.28 3.83 -5.15
Net Income / (Loss) Continuing Operations		 -46 3.58 -7.55 -21 -16 -8.53 -21 -7.88 -8.33 -7.32 -9.53
Consolidated Net Income / (Loss)		 -46 3.58 -7.55 -21 -16 -8.53 -21 -7.88 -8.33 -7.32 -9.53
Depreciation Expense		 14 13 12 12 12 11 12 11 11 11 12
Non-Cash Adjustments to Reconcile Net Income		 40 -8.50 0.35 14 8.52 1.52 13 -0.23 -0.03 0.19 1.49
Changes in Operating Assets and Liabilities, net		 3.93 -0.22 -12 -5.65 9.90 -2.20 -8.91 -6.08 5.41 -0.32 -8.71
Net Cash From Investing Activities		 1.31 100 26 -4.49 23 26 -4.45 3.23 -5.29 -3.80 -2.70
Net Cash From Continuing Investing Activities		 1.31 100 26 -4.49 23 26 -4.45 3.23 -5.29 -3.80 -2.70
Purchase of Property, Leasehold Improvements and Equipment		 -7.66 -5.61 -8.76 -4.49 -5.83 -6.14 -4.45 -2.87 -5.29 -3.81 -2.70
Net Cash From Financing Activities		 -6.03 8.97 -109 -1.15 -26 -28 -1.19 -1.40 -1.94 -1.04 1.03
Net Cash From Continuing Financing Activities		 -6.03 8.97 -109 -1.15 -26 -28 -1.19 -1.40 -1.94 -1.04 1.03
Issuance of Debt		 5.00 10 - - - - 0.00 - - - 259
Repayment of Debt		 -10 - -102 - -25 -27 -0.15 -0.36 -0.90 - -250
Payment of Dividends		 -1.03 -1.03 -1.03 -1.03 -1.04 -1.04 -1.04 -1.04 -1.04 -1.04 -1.04
Other Financing Activities, Net		 - - -5.55 -0.11 - - 0.00 - - - -6.50
Cash Interest Paid		 4.36 9.04 4.33 8.52 3.19 8.03 2.51 7.67 3.35 8.42 6.12

Annual Balance Sheets for Franklin Street Properties

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 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
Total Assets		 1,919 2,088 1,991 1,898 1,843 1,793 1,364 1,242 1,169 947 893
Cash and Due from Banks		 18 9.34 9.82 11 9.79 4.15 41 6.63 128 43 31
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 1,510 1,686 1,633 1,626 1,637 1,602 1,191 1,103 891 835 794
Deferred Acquisition Cost		 29 35 41 48 53 56 38 36 24 23 23
Intangible Assets		 108 125 87 60 41 28 15 10 6.69 4.21 2.49
Other Assets		 253 220 207 139 99 102 79 81 120 42 43
Total Liabilities & Shareholders' Equity		 1,919 2,088 1,991 1,898 1,843 1,793 1,364 1,242 1,169 947 893
Total Liabilities		 983 1,126 1,119 1,060 1,056 1,025 581 473 457 291 286
Non-Interest Bearing Deposits		 4.83 5.36 5.38 6.32 9.35 8.68 6.22 5.71 6.20 6.24 6.20
Other Short-Term Payables		 53 - 65 62 70 76 94 54 46 37 31
Long-Term Debt		 618 765 964 963 965 917 474 364 314 247 248
Other Long-Term Liabilities		 9.43 76 5.81 3.80 4.40 3.13 1.69 0.95 0.42 0.75 0.35
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		 936 962 871 838 786 768 783 769 713 656 607
Total Preferred & Common Equity		 936 962 871 838 786 768 783 769 713 656 607
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		 936 962 871 838 786 768 783 769 713 656 607
Common Stock		 1,274 1,356 1,356 1,356 1,357 1,357 1,339 1,335 1,335 1,335 1,336
Other Equity Adjustments		 -331 -400 -497 -534 -566 -572 -551 -570 -623 -680 -729

Quarterly Balance Sheets for Franklin Street Properties

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

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 1,152 1,039 1,013 982 916 903 901 882
Cash and Due from Banks		 13 38 31 42 32 31 32 24
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 922 885 841 837 810 803 800 789
Deferred Acquisition Cost		 25 25 22 21 22 23 23 23
Intangible Assets		 7.45 5.97 5.31 4.70 3.74 3.31 2.90 2.08
Other Assets		 184 86 113 76 48 43 44 44
Total Liabilities & Shareholders' Equity		 1,152 1,039 1,013 982 916 903 901 882
Total Liabilities		 440 335 330 316 283 279 286 285
Non-Interest Bearing Deposits		 5.63 6.27 6.25 6.12 6.16 6.29 6.26 6.19
Other Short-Term Payables		 40 31 26 36 29 24 31 27
Long-Term Debt		 314 297 297 273 247 248 248 252
Other Long-Term Liabilities		 0.54 1.03 0.92 0.81 0.65 0.55 0.45 1.04
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 711 704 682 665 633 625 615 596
Total Preferred & Common Equity		 711 704 682 665 633 625 615 596
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 711 704 682 665 633 625 615 596
Common Stock		 1,335 1,335 1,335 1,335 1,335 1,336 1,336 1,336
Other Equity Adjustments		 -625 -631 -653 -670 -702 -711 -720 -739

Annual Metrics And Ratios for Franklin Street Properties

This table displays calculated financial ratios and metrics derived from Franklin Street Properties' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 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		 100,187,405.00 107,231,155.00 107,231,155.00 107,231,155.00 107,231,155.00 107,328,199.00 105,632,725.00 103,235,914.00 103,430,353.00 - 103,690,340.00
DEI Adjusted Shares Outstanding		 100,187,405.00 107,231,155.00 107,231,155.00 107,231,155.00 107,231,155.00 107,328,199.00 105,632,725.00 103,235,914.00 103,430,353.00 - 103,690,340.00
DEI Earnings Per Adjusted Shares Outstanding		 0.35 0.08 -0.15 0.12 0.06 0.30 0.88 0.01 -0.47 - -0.43
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -2.33% 2.47% -11.27% 3.96% 0.79% 8.37% -30.02% -6.04% -11.70% -17.11% -10.75%
EBITDA Growth		 -5.58% -2.43% -9.61% 11.44% -3.02% 23.97% 40.46% -61.64% -91.76% -193.16% 110.88%
EBIT Growth		 -7.25% -34.25% -229.85% 165.95% 1.63% 387.32% 184.06% -98.61% -3,784.98% -9.78% 14.73%
NOPAT Growth		 -4.91% -36.60% -195.43% 189.10% 3.17% 403.71% 182.99% -98.81% -3,160.48% -9.78% 14.73%
Net Income Growth		 166.31% -76.07% -290.31% 181.97% -50.46% 403.71% 184.28% -98.82% -4,497.62% -9.59% 14.72%
EPS Growth		 169.23% -77.14% -287.50% 180.00% -50.00% 400.00% 190.00% -98.85% -4,800.00% -8.51% 15.69%
Operating Cash Flow Growth		 -0.27% -8.27% 1.66% -16.41% 2.14% -16.44% -46.88% -58.10% 17.28% -49.70% -58.24%
Free Cash Flow Firm Growth		 -69.83% -523.69% 157.69% 11.20% -22.88% 17.27% 522.39% -84.66% -63.09% 485.75% -90.87%
Invested Capital Growth		 -1.25% 8.41% -4.61% -4.64% -3.67% -3.04% -26.00% -6.42% -5.40% -19.19% -5.27%
Revenue Q/Q Growth		 -5.91% 1.93% -18.41% 7.49% 9.38% 14.87% -30.30% 43.81% 3.98% 17.86% -1.88%
EBITDA Q/Q Growth		 0.01% -1.78% -14.47% 10.67% 9.53% 37.15% 25.27% -56.15% 7.44% -173.52% 219.19%
EBIT Q/Q Growth		 6.66% -33.65% -249.13% 217.24% 400.67% 1,996.42% 78.88% -98.48% 7.91% -29.99% 2.61%
NOPAT Q/Q Growth		 -51.29% -66.54% -13.13% -39.48% 512.39% 14,158.19% 84.00% -98.67% 11.95% -29.99% 2.61%
Net Income Q/Q Growth		 46.52% -62.02% -71.75% 93.16% 52.14% 2,740.89% 79.74% -98.67% 11.84% -29.79% 2.61%
EPS Q/Q Growth		 52.17% -63.64% -66.67% 100.00% 50.00% 1,600.00% 81.25% 0.00% 0.00% -30.77% 6.52%
Operating Cash Flow Q/Q Growth		 2.99% -1.16% -2.55% -10.42% 5.91% -12.09% -7.72% -18.77% 2.53% -31.17% 72.71%
Free Cash Flow Firm Q/Q Growth		 -46.73% -871.93% 188.88% -30.30% 8.51% 754.11% 42.55% -73.39% -47.83% 28.06% -62.70%
Invested Capital Q/Q Growth		 -0.80% 7.38% -2.28% -0.40% -0.29% -2.75% -11.62% -1.72% 1.05% -3.81% -0.89%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 43.08% 41.02% 41.79% 44.80% 43.10% 49.31% 98.97% 40.40% 3.77% -4.24% 0.52%
EBIT Margin		 4.83% 3.10% -4.54% 2.88% 2.90% 13.05% 52.99% 0.78% -32.72% -43.34% -41.40%
Profit (Net Income) Margin		 14.36% 3.35% -7.19% 5.67% 2.79% 12.96% 52.63% 0.66% -32.91% -43.52% -41.58%
Tax Burden Percent		 98.78% 95.25% 133.53% 196.94% 96.01% 99.24% 99.77% 84.28% 100.58% 100.41% 100.42%
Interest Burden Percent		 300.78% 113.51% 118.66% 100.00% 100.00% 100.00% 99.55% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 1.22% 4.75% 0.00% 5.43% 3.99% 0.76% 0.69% 15.72% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.62% 0.38% -0.36% 0.34% 0.36% 1.88% 6.22% 0.09% -2.91% -3.64% -3.57%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.21% 0.48% -1.21% 1.00% 0.36% 1.88% 6.28% 0.09% -6.50% -8.54% -9.07%
Return on Net Nonoperating Assets (RNNOA)		 3.03% 0.50% -1.38% 1.19% 0.44% 2.31% 5.73% 0.05% -3.58% -4.07% -3.56%
Return on Equity (ROE)		 3.66% 0.88% -1.74% 1.53% 0.80% 4.20% 11.95% 0.14% -6.49% -7.70% -7.12%
Cash Return on Invested Capital (CROIC)		 1.88% -7.69% 4.36% 5.09% 4.09% 4.97% 36.10% 6.73% 2.64% 17.59% 1.85%
Operating Return on Assets (OROA)		 0.61% 0.39% -0.49% 0.34% 0.36% 1.81% 5.91% 0.10% -3.97% -4.96% -4.87%
Return on Assets (ROA)		 1.82% 0.42% -0.78% 0.67% 0.35% 1.79% 5.87% 0.08% -3.99% -4.98% -4.89%
Return on Common Equity (ROCE)		 3.66% 0.88% -1.74% 1.53% 0.80% 4.20% 11.95% 0.14% -6.49% -7.70% -7.12%
Return on Equity Simple (ROE_SIMPLE)		 3.74% 0.87% -1.83% 1.56% 0.82% 4.25% 11.84% 0.14% -6.75% -8.04% -7.41%
Net Operating Profit after Tax (NOPAT)		 12 7.38 -7.04 6.28 6.48 33 92 1.09 -33 -37 -31
NOPAT Margin		 4.77% 2.95% -3.18% 2.72% 2.79% 12.96% 52.39% 0.66% -22.91% -30.34% -28.98%
Net Nonoperating Expense Percent (NNEP)		 -2.58% -0.10% 0.85% -0.67% 0.00% 0.00% -0.06% 0.00% 3.58% 4.90% 5.50%
SG&A Expenses 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		 95.17% 96.90% 104.54% 97.12% 97.10% 86.95% 47.01% 96.66% 132.72% 143.34% 141.40%
Earnings before Interest and Taxes (EBIT)		 12 7.75 -10 6.64 6.74 33 93 1.30 -48 -53 -45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 105 102 93 103 100 124 174 67 5.51 -5.14 0.56
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.67 0.94 0.91 0.58 0.89 0.50 0.74 0.35 0.35 0.29 0.16
Price to Tangible Book Value (P/TBV)		 0.76 1.08 1.02 0.63 0.94 0.52 0.76 0.35 0.35 0.29 0.16
Price to Revenue (P/Rev)		 2.57 3.60 3.59 2.11 3.02 1.52 3.30 1.62 1.71 1.56 0.90
Price to Earnings (P/E)		 17.93 107.48 0.00 37.29 108.39 11.76 6.27 245.19 0.00 0.00 0.00
Dividend Yield		 12.13% 9.05% 10.23% 10.12% 5.50% 10.08% 12.35% 20.01% 1.65% 2.20% 4.28%
Earnings Yield		 5.58% 0.93% 0.00% 2.68% 0.92% 8.51% 15.94% 0.41% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.82 0.96 0.96 0.80 0.95 0.77 0.81 0.57 0.47 0.44 0.37
Enterprise Value to Revenue (EV/Rev)		 6.26 7.75 8.26 6.35 7.16 5.23 5.79 4.07 3.60 3.24 2.91
Enterprise Value to EBITDA (EV/EBITDA)		 14.52 18.89 19.76 14.18 16.62 10.61 5.85 10.08 95.48 0.00 562.90
Enterprise Value to EBIT (EV/EBIT)		 129.44 249.88 0.00 220.66 246.81 40.06 10.92 519.15 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 131.04 262.35 0.00 233.32 257.06 40.37 11.05 615.96 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.83 20.52 19.08 18.26 20.32 19.24 28.05 44.23 29.47 43.70 83.84
Enterprise Value to Free Cash Flow (EV/FCFF)		 43.57 0.00 21.39 15.39 22.68 15.30 1.90 8.20 17.36 2.21 19.40
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.98 1.09 1.20 1.18 1.24 1.22 0.61 0.54 0.57 0.38 0.41
Long-Term Debt to Equity		 0.66 0.80 1.11 1.15 1.23 1.19 0.60 0.47 0.44 0.38 0.41
Financial Leverage		 0.95 1.03 1.14 1.19 1.21 1.23 0.91 0.57 0.55 0.48 0.39
Leverage Ratio		 2.01 2.11 2.22 2.28 2.30 2.34 2.04 1.68 1.63 1.55 1.46
Compound Leverage Factor		 6.05 2.40 2.64 2.28 2.30 2.34 2.03 1.68 1.63 1.55 1.46
Debt to Total Capital		 49.47% 52.07% 54.49% 54.12% 55.29% 54.96% 37.94% 34.91% 36.20% 27.35% 29.03%
Short-Term Debt to Total Capital		 16.11% 13.95% 4.17% 1.37% 0.44% 1.22% 0.42% 4.06% 8.06% 0.00% 0.00%
Long-Term Debt to Total Capital		 33.36% 38.12% 50.33% 52.75% 54.85% 53.74% 37.53% 30.84% 28.14% 27.35% 29.03%
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 50.53% 47.93% 45.51% 45.88% 44.71% 45.04% 62.06% 65.09% 63.80% 72.65% 70.97%
Debt to EBITDA		 8.72 10.20 11.26 9.57 9.71 7.55 2.75 6.16 73.34 -48.07 444.08
Net Debt to EBITDA		 8.55 10.11 11.16 9.46 9.61 7.52 2.51 6.07 50.14 -39.76 389.39
Long-Term Debt to EBITDA		 5.88 7.47 10.40 9.33 9.64 7.38 2.72 5.45 57.01 -48.07 444.08
Debt to NOPAT		 78.68 141.61 -148.13 157.45 150.19 28.74 5.19 376.83 -12.08 -6.72 -7.92
Net Debt to NOPAT		 77.12 140.34 -146.74 155.66 148.67 28.61 4.75 370.77 -8.26 -5.56 -6.95
Long-Term Debt to NOPAT		 53.06 103.68 -136.81 153.46 149.00 28.10 5.13 332.96 -9.39 -6.72 -7.92
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 35 -148 86 95 73 86 536 82 30 178 16
Operating Cash Flow to CapEx		 0.00% 922.74% 583.93% 157.08% 115.79% 0.00% 0.00% 0.00% 0.00% 0.00% 36.42%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 2.64 2.48 2.00 2.39 16.60 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 2.96 2.09 2.23 1.90 1.13 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 2.46 0.76 0.30 2.21 16.88 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.13 0.12 0.11 0.12 0.12 0.14 0.11 0.13 0.12 0.11 0.12
Fixed Asset Turnover		 0.16 0.16 0.13 0.14 0.14 0.16 0.13 0.14 0.15 0.14 0.13
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,852 2,007 1,915 1,826 1,759 1,705 1,262 1,181 1,117 903 855
Invested Capital Turnover		 0.13 0.13 0.11 0.12 0.13 0.15 0.12 0.14 0.13 0.12 0.12
Increase / (Decrease) in Invested Capital		 -23 156 -93 -89 -67 -53 -443 -81 -64 -214 -48
Enterprise Value (EV)		 1,525 1,936 1,830 1,464 1,664 1,317 1,020 674 526 393 315
Market Capitalization		 628 900 797 487 702 383 582 268 250 188 97
Book Value per Share		 $9.34 $8.97 $8.13 $7.81 $7.33 $7.16 $7.41 $7.45 $6.89 $6.33 $5.85
Tangible Book Value per Share		 $8.26 $7.80 $7.32 $7.26 $6.95 $6.89 $7.27 $7.35 $6.83 $6.29 $5.83
Total Capital		 1,852 2,007 1,915 1,826 1,759 1,705 1,262 1,181 1,117 903 855
Total Debt		 916 1,045 1,043 988 972 937 479 412 404 247 248
Total Long-Term Debt		 618 765 964 963 965 917 474 364 314 247 248
Net Debt		 898 1,036 1,034 977 963 933 438 406 276 204 218
Capital Expenditures (CapEx)		 -63 10 16 51 71 -11 -508 -74 -111 -70 10
Net Nonoperating Expense (NNE)		 -23 -1.00 8.90 -6.79 0.00 0.00 -0.42 0.00 15 16 14
Net Nonoperating Obligations (NNO)		 916 1,045 1,043 988 972 937 479 412 404 247 248
Total Depreciation and Amortization (D&A)		 93 95 103 97 93 91 81 66 53 47 45
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.35 $0.08 ($0.15) $0.12 $0.06 $0.30 $0.87 $0.01 ($0.47) ($0.51) ($0.43)
Adjusted Weighted Average Basic Shares Outstanding		 100.19M 107.23M 107.23M 107.23M 107.27M 107.33M 106.67M 103.34M 103.36M 103.51M 103.64M
Adjusted Diluted Earnings per Share		 $0.35 $0.08 ($0.15) $0.12 $0.06 $0.30 $0.87 $0.01 ($0.47) ($0.51) ($0.43)
Adjusted Weighted Average Diluted Shares Outstanding		 100.19M 107.23M 107.23M 107.23M 107.27M 107.33M 106.67M 103.34M 103.36M 103.51M 103.64M
Adjusted Basic & Diluted Earnings per Share		 $0.35 $0.08 ($0.15) $0.12 $0.06 $0.30 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 100.19M 102.84M 107.23M 107.23M 107.23M 107.30M 104.00M 103.24M 103.43M 103.57M 103.69M
Normalized Net Operating Profit after Tax (NOPAT)		 12 10 -7.04 6.28 6.48 33 -20 -22 -17 -22 -22
Normalized NOPAT Margin		 4.77% 4.07% -3.18% 2.72% 2.79% 12.96% -11.39% -13.56% -11.90% -18.30% -20.63%
Pre Tax Income Margin		 14.54% 3.52% -5.39% 2.88% 2.90% 13.05% 52.75% 0.78% -32.72% -43.34% -41.40%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 -0.31 0.17 0.18 0.91 2.89 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 -0.22 0.16 0.18 0.91 2.86 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 -0.82 -1.16 -1.74 1.22 18.65 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -0.72 -1.17 -1.75 1.21 18.62 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 217.46% 924.82% -511.14% 377.43% 596.19% 118.44% 41.51% 4,934.92% -8.59% -7.85% -9.22%
Augmented Payout Ratio		 217.46% 924.82% -511.14% 377.43% 596.19% 118.44% 61.19% 5,377.61% -8.59% -7.85% -9.22%

Quarterly Metrics And Ratios for Franklin Street Properties

This table displays calculated financial ratios and metrics derived from Franklin Street Properties' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 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
DEI Shares Outstanding		 103,430,353.00 103,430,353.00 103,430,353.00 103,430,353.00 103,566,715.00 - - 103,566,715.00 103,690,340.00 103,690,340.00 103,690,340.00
DEI Adjusted Shares Outstanding		 103,430,353.00 103,430,353.00 103,430,353.00 103,430,353.00 103,566,715.00 - - 103,566,715.00 103,690,340.00 103,690,340.00 103,690,340.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.44 0.03 -0.07 -0.20 -0.15 - - -0.08 -0.08 -0.07 -0.09
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 6.40% -29.49% 0.63% -14.03% -19.85% -14.48% -14.74% -13.53% -6.78% -7.31% -8.20%
EBITDA Growth		 -199.15% 2.59% -73.99% -247.21% 88.06% -80.24% -321.89% 140.49% 174.61% 34.43% 121.54%
EBIT Growth		 -363.47% 879.87% -403.03% -151.35% 65.86% -332.62% -185.33% 62.84% 46.53% 14.18% 55.70%
NOPAT Growth		 -285.09% 279.39% -318.03% -151.35% 65.86% -265.89% -185.33% 62.84% 46.53% 14.18% 55.70%
Net Income Growth		 -364.82% 223.96% -413.88% -149.68% 65.79% -338.49% -183.83% 62.54% 46.70% 14.11% 55.55%
EPS Growth		 -358.82% 0.00% -450.00% -150.00% 65.91% -400.00% -200.00% 60.00% 46.67% 33.33% 57.14%
Operating Cash Flow Growth		 -43.48% 7.50% -547.31% -141.30% 30.72% -64.39% 22.67% -344.14% -42.78% 70.19% 6.00%
Free Cash Flow Firm Growth		 -73.63% -14.79% 37.71% 37.99% 143.03% 209.38% -35.69% -38.26% -55.26% -79.63% -74.88%
Invested Capital Growth		 -8.00% -5.40% -14.37% -15.44% -15.11% -19.19% -11.95% -10.91% -8.06% -5.27% -3.74%
Revenue Q/Q Growth		 1.65% 11.61% -21.99% -2.86% -5.24% 19.10% -22.23% -1.48% 2.16% -4.62% -4.37%
EBITDA Q/Q Growth		 -652.86% 146.35% -70.55% -295.08% 55.17% 176.72% -430.68% 135.60% -17.38% 38.22% -47.01%
EBIT Q/Q Growth		 -446.45% 107.99% -305.77% -179.89% 25.79% 45.57% -152.40% 63.55% -6.79% 12.64% -30.28%
NOPAT Q/Q Growth		 -446.45% 111.20% -246.74% -179.89% 25.79% 45.57% -152.40% 63.55% -6.79% 12.64% -30.28%
Net Income Q/Q Growth		 -442.41% 107.83% -311.24% -178.38% 25.69% 45.42% -151.41% 63.26% -5.71% 12.05% -30.10%
EPS Q/Q Growth		 -450.00% 106.82% -333.33% -185.71% 25.00% 40.00% -133.33% 61.90% 0.00% 25.00% -50.00%
Operating Cash Flow Q/Q Growth		 605.61% -42.90% -212.13% 90.86% 2,333.33% -84.45% -343.49% 47.49% 387.73% -53.74% -234.48%
Free Cash Flow Firm Q/Q Growth		 -46.01% 4.91% 141.28% 0.98% -4.92% 33.55% -49.84% -3.07% -31.10% -39.19% -38.14%
Invested Capital Q/Q Growth		 -4.54% 1.05% -10.46% -2.11% -4.16% -3.81% -2.43% -0.95% -1.10% -0.89% -0.85%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 -88.44% 36.72% 13.86% -27.84% -13.17% 8.49% -36.08% 13.04% 10.54% 15.28% 8.47%
EBIT Margin		 -123.70% 8.85% -23.35% -67.28% -52.69% -24.08% -78.14% -28.91% -30.22% -27.68% -37.71%
Profit (Net Income) Margin		 -123.89% 8.69% -23.53% -67.43% -52.88% -24.23% -78.33% -29.21% -30.23% -27.88% -37.92%
Tax Burden Percent		 100.15% 98.16% 100.77% 100.23% 100.36% 100.64% 100.24% 101.05% 100.04% 100.72% 100.57%
Interest Burden Percent		 100.00% 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% 1.84% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -10.55% 1.11% -2.21% -6.23% -4.83% -2.02% -6.77% -2.45% -2.59% -2.38% -3.23%
ROIC Less NNEP Spread (ROIC-NNEP)		 -13.89% 1.11% -2.87% -8.05% -6.25% -2.82% -9.15% -3.34% -3.55% -3.29% -4.39%
Return on Net Nonoperating Assets (RNNOA)		 -7.71% 0.61% -1.35% -3.89% -3.03% -1.34% -3.72% -1.39% -1.44% -1.29% -1.78%
Return on Equity (ROE)		 -18.26% 1.71% -3.56% -10.11% -7.86% -3.36% -10.49% -3.85% -4.03% -3.67% -5.02%
Cash Return on Invested Capital (CROIC)		 5.04% 2.64% 11.75% 12.12% 13.57% 17.59% 7.77% 7.51% 4.83% 1.85% 1.15%
Operating Return on Assets (OROA)		 -14.41% 1.07% -3.03% -8.59% -6.62% -2.76% -9.31% -3.39% -3.54% -3.25% -4.44%
Return on Assets (ROA)		 -14.43% 1.05% -3.06% -8.61% -6.64% -2.77% -9.33% -3.42% -3.54% -3.28% -4.47%
Return on Common Equity (ROCE)		 -18.26% 1.71% -3.56% -10.11% -7.86% -3.36% -10.49% -3.85% -4.03% -3.67% -5.02%
Return on Equity Simple (ROE_SIMPLE)		 -7.67% 0.00% -8.25% -10.36% -6.10% 0.00% -10.52% -8.56% -7.50% 0.00% -5.54%
Net Operating Profit after Tax (NOPAT)		 -32 3.58 -5.25 -15 -11 -5.93 -15 -5.46 -5.83 -5.09 -6.63
NOPAT Margin		 -86.59% 8.69% -16.34% -47.09% -36.88% -16.85% -54.70% -20.24% -21.15% -19.37% -26.40%
Net Nonoperating Expense Percent (NNEP)		 3.34% 0.00% 0.66% 1.82% 1.42% 0.80% 2.38% 0.89% 0.96% 0.90% 1.16%
SG&A Expenses 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		 223.70% 91.15% 123.35% 167.28% 152.69% 124.08% 178.14% 128.91% 130.22% 127.68% 137.71%
Earnings before Interest and Taxes (EBIT)		 -46 3.64 -7.49 -21 -16 -8.47 -21 -7.79 -8.32 -7.27 -9.47
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -33 15 4.45 -8.68 -3.89 2.99 -9.87 3.52 2.90 4.01 2.13
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.26 0.35 0.32 0.23 0.27 0.29 0.29 0.27 0.27 0.16 0.12
Price to Tangible Book Value (P/TBV)		 0.26 0.35 0.33 0.23 0.27 0.29 0.29 0.27 0.27 0.16 0.12
Price to Revenue (P/Rev)		 1.33 1.71 1.56 1.09 1.33 1.56 1.57 1.50 1.49 0.90 0.65
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 2.22% 1.65% 1.81% 2.69% 2.33% 2.20% 2.26% 2.45% 2.52% 4.28% 6.02%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.51 0.47 0.49 0.43 0.44 0.44 0.45 0.44 0.44 0.37 0.35
Enterprise Value to Revenue (EV/Rev)		 4.04 3.60 3.33 2.97 3.05 3.24 3.43 3.44 3.45 2.91 2.80
Enterprise Value to EBITDA (EV/EBITDA)		 110.57 95.48 0.00 0.00 58.47 0.00 0.00 0.00 0.00 562.90 23.62
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 32.57 29.47 41.00 43.42 31.29 43.70 37.67 46.16 175.21 83.84 72.68
Enterprise Value to Free Cash Flow (EV/FCFF)		 9.76 17.36 3.82 3.24 2.94 2.21 5.46 5.55 8.76 19.40 29.97
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.55 0.57 0.42 0.44 0.41 0.38 0.39 0.40 0.40 0.41 0.42
Long-Term Debt to Equity		 0.44 0.44 0.42 0.44 0.41 0.38 0.39 0.40 0.40 0.41 0.42
Financial Leverage		 0.55 0.55 0.47 0.48 0.48 0.48 0.41 0.42 0.41 0.39 0.41
Leverage Ratio		 1.63 1.63 1.53 1.53 1.55 1.55 1.46 1.47 1.47 1.46 1.46
Compound Leverage Factor		 1.63 1.63 1.53 1.53 1.55 1.55 1.46 1.47 1.47 1.46 1.46
Debt to Total Capital		 35.66% 36.20% 29.64% 30.35% 29.10% 27.35% 28.09% 28.40% 28.69% 29.03% 29.66%
Short-Term Debt to Total Capital		 7.24% 8.06% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 28.42% 28.14% 29.64% 30.35% 29.10% 27.35% 28.09% 28.40% 28.69% 29.03% 29.66%
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 64.34% 63.80% 70.36% 69.65% 70.90% 72.65% 71.91% 71.60% 71.31% 70.97% 70.34%
Debt to EBITDA		 76.82 73.34 -41.50 -13.68 39.09 -48.07 -12.72 -34.11 -527.85 444.08 20.03
Net Debt to EBITDA		 74.28 50.14 -36.21 -12.23 33.03 -39.76 -11.09 -29.91 -460.53 389.39 18.13
Long-Term Debt to EBITDA		 61.23 57.01 -41.50 -13.68 39.09 -48.07 -12.72 -34.11 -527.85 444.08 20.03
Debt to NOPAT		 -10.37 -12.08 -7.33 -6.03 -9.66 -6.72 -5.32 -6.65 -7.69 -7.92 -10.93
Net Debt to NOPAT		 -10.03 -8.26 -6.39 -5.39 -8.16 -5.56 -4.65 -5.83 -6.71 -6.95 -9.90
Long-Term Debt to NOPAT		 -8.26 -9.39 -7.33 -6.03 -9.66 -6.72 -5.32 -6.65 -7.69 -7.92 -10.93
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 64 67 163 164 156 208 105 101 70 42 26
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% -14.43% 0.00% 0.00% -123.06% 0.00% 156.63% 100.87% -191.10%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.12 0.12 0.13 0.13 0.13 0.11 0.12 0.12 0.12 0.12 0.12
Fixed Asset Turnover		 0.14 0.15 0.15 0.15 0.15 0.14 0.14 0.14 0.13 0.13 0.13
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,106 1,117 1,000 979 939 903 881 872 863 855 848
Invested Capital Turnover		 0.12 0.13 0.14 0.13 0.13 0.12 0.12 0.12 0.12 0.12 0.12
Increase / (Decrease) in Invested Capital		 -96 -64 -168 -179 -167 -214 -120 -107 -76 -48 -33
Enterprise Value (EV)		 567 526 487 419 409 393 399 386 381 315 297
Market Capitalization		 186 250 228 154 178 188 183 169 165 97 69
Book Value per Share		 $6.88 $6.89 $6.81 $6.59 $6.43 $6.33 $6.12 $6.03 $5.93 $5.85 $5.75
Tangible Book Value per Share		 $6.81 $6.83 $6.75 $6.54 $6.38 $6.29 $6.08 $6.00 $5.91 $5.83 $5.73
Total Capital		 1,106 1,117 1,000 979 939 903 881 872 863 855 848
Total Debt		 394 404 297 297 273 247 247 248 248 248 252
Total Long-Term Debt		 314 314 297 297 273 247 247 248 248 248 252
Net Debt		 381 276 259 266 231 204 216 217 216 218 228
Capital Expenditures (CapEx)		 -1.31 -100 -26 4.49 -23 -26 4.45 -3.23 5.29 3.80 2.70
Net Nonoperating Expense (NNE)		 14 0.00 2.31 6.34 4.73 2.60 6.47 2.42 2.50 2.23 2.90
Net Nonoperating Obligations (NNO)		 394 404 297 297 273 247 247 248 248 248 252
Total Depreciation and Amortization (D&A)		 13 11 12 12 12 11 12 11 11 11 12
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.44) $0.03 ($0.07) ($0.20) ($0.15) ($0.09) ($0.21) ($0.08) ($0.08) ($0.06) ($0.09)
Adjusted Weighted Average Basic Shares Outstanding		 103.43M 103.36M 103.43M 103.48M 103.57M 103.51M 103.57M 103.61M 103.69M 103.64M 103.69M
Adjusted Diluted Earnings per Share		 ($0.44) $0.03 ($0.07) ($0.20) ($0.15) ($0.09) ($0.21) ($0.08) ($0.08) ($0.06) ($0.09)
Adjusted Weighted Average Diluted Shares Outstanding		 103.43M 103.36M 103.43M 103.48M 103.57M 103.51M 103.57M 103.61M 103.69M 103.64M 103.69M
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		 103.43M 103.43M 103.43M 103.57M 103.57M 103.57M 103.57M 103.69M 103.69M 103.69M 103.69M
Normalized Net Operating Profit after Tax (NOPAT)		 -4.15 -4.97 -5.24 -5.44 -5.82 -5.67 -5.67 -5.72 -5.83 -5.09 -6.63
Normalized NOPAT Margin		 -11.26% -12.07% -16.33% -17.46% -19.69% -16.12% -20.72% -21.23% -21.15% -19.37% -26.40%
Pre Tax Income Margin		 -123.70% 8.85% -23.35% -67.28% -52.69% -24.08% -78.14% -28.91% -30.22% -27.68% -37.71%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 -7.57% -8.59% -7.12% -5.85% -10.19% -7.85% -6.22% -7.75% -8.98% -9.22% -12.54%
Augmented Payout Ratio		 -7.57% -8.59% -7.12% -5.85% -10.19% -7.85% -6.22% -7.75% -8.98% -9.22% -12.54%

Financials Breakdown Chart

Key Financial Trends

Franklin Street Properties (NYSE:FSP) showed a mixed but clearly stressed financial profile in Q1 2026. Revenue held up well year over year, but profitability remained negative, operating cash flow was still outflowing, and the balance sheet continued to show heavy leverage relative to equity.

  • Q1 2026 revenue was $25.1 million, up from $21.8 million in Q1 2025, showing better top-line performance.
  • Other non-interest income jumped to $26.2 million from $27.1 million in Q1 2025, helping offset weak interest income.
  • The company generated $1.0 million of net financing cash flow in Q1 2026, helped by $258.5 million of debt issuance.
  • Cash and equivalents increased slightly from $31.6 million at Q1 2025 to $23.8 million at Q1 2026 after a difficult year of cash usage, suggesting the company still has liquidity on hand.
  • Quarterly EPS improved modestly versus the restated Q1 2025 loss, coming in at -$0.09 versus -$0.21 a year earlier.
  • Basic and diluted share counts were essentially unchanged at about 103.7 million shares, so dilution was not a major issue this quarter.
  • Depreciation remains a large non-cash add-back, at $11.6 million in Q1 2026, which is typical for an asset-heavy real estate company.
  • The company paid only $0.01 per share in cash dividends, indicating a very small distribution commitment relative to its losses.
  • Q1 2026 ended with a net loss of $9.5 million, worse than the $7.6 million loss in Q1 2025.
  • Operating cash flow was negative $5.2 million in Q1 2026, compared with negative $5.5 million in Q1 2025, so the business is still not self-funding.
  • Capital spending continued at $2.7 million, while operating cash flow was negative, pressuring free cash flow.
  • Long-term debt was $251.5 million at March 31, 2026, versus $247.5 million a year earlier, so leverage remains elevated.
  • Total equity fell to $596.4 million from $633.4 million in Q1 2025, reflecting ongoing losses and balance sheet pressure.
  • Cash interest paid remained high at $6.1 million in the quarter, highlighting the burden of financing costs on results.

Looking at the last several years, FSP has not yet established a durable pattern of earnings recovery. Quarterly revenue has been relatively stable to slightly improved, but profitability has swung between small gains and recurring losses, with 2024 and 2025 largely marked by heavy impairment charges and weak earnings. The most encouraging development is that Q1 2026 avoided the severe impairment charges seen in some prior periods, but the company still has not returned to positive operating cash generation.

For retail investors, the key takeaway is that FSP remains a leveraged, cash-flow-sensitive real estate company with limited earnings cushion. The recent quarter showed some revenue resilience and access to financing, but the persistent losses and negative operating cash flow mean the turnaround is still incomplete.

07/21/26 08:52 PM ETAI Generated. May Contain Errors.

Franklin Street Properties Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Franklin Street Properties' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Franklin Street Properties' net income appears to be on a downward trend, with a most recent value of -$44.96 million in 2025, falling from $35.01 million in 2015. The previous period was -$52.72 million in 2024.

Over the last 10 years, Franklin Street Properties' total revenue changed from $243.87 million in 2015 to $108.14 million in 2025, a change of -55.7%.

Franklin Street Properties' total liabilities were at $285.91 million at the end of 2025, a 1.8% decrease from 2024, and a 70.9% decrease since 2015.

In the past 10 years, Franklin Street Properties' cash and equivalents has ranged from $4.15 million in 2020 to $127.88 million in 2023, and is currently $30.57 million as of their latest financial filing in 2025.

Over the last 10 years, Franklin Street Properties' book value per share changed from 9.34 in 2015 to 5.85 in 2025, a change of -37.3%.


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Financial statements for NYSE:FSP last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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