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JBG SMITH Properties (JBGS) Financials

JBG SMITH Properties logo
$21.31 -0.13 (-0.61%)
Closing price 03:59 PM Eastern
Extended Trading
$21.31 0.00 (0.00%)
As of 06:08 PM Eastern
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Annual Income Statements for JBG SMITH Properties

Annual Income Statements for JBG SMITH Properties

This table shows JBG SMITH 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
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
Net Income / (Loss) Attributable to Common Shareholders		 50 62 -72 40 66 -62 -79 85 -80 -144
Consolidated Net Income / (Loss)		 50 62 -79 47 74 -67 -90 99 -92 -178
Net Income / (Loss) Continuing Operations		 50 62 -79 47 74 -67 -90 99 -92 -178
Total Pre-Tax Income 		50 63 -89 46 73 -72 -86 100 -92 -177
Total Revenue		 422 430 510 572 595 540 575 545 511 434
Net Interest Income / (Expense)		 -48 -49 -56 -59 -47 -63 -59 -57 -93 -122
Total Interest Income		 2.56 2.99 1.79 15 5.39 -0.63 8.84 19 16 12
Investment Securities Interest Income		 2.56 2.99 1.79 15 5.39 -0.63 8.84 19 16 12
Total Interest Expense		 51 52 58 74 53 62 68 76 109 134
Long-Term Debt Interest Expense		 51 52 58 74 53 62 68 76 109 134
Total Non-Interest Income		 471 479 567 631 642 603 634 603 604 557
Other Service Charges		 11 5.38 28 32 34 30 21 25 29 21
Net Realized & Unrealized Capital Gains on Investments		 0.00 0.00 24 -13 -5.81 -0.06 0.00 -3.07 -0.45 9.24
Other Non-Interest Income		 460 473 515 612 614 573 614 581 575 526
Total Non-Interest Expense		 368 366 595 566 520 591 659 428 576 604
Salaries and Employee Benefits		 0.00 0.00 29 36 42 32 16 5.39 0.55 0.00
Net Occupancy & Equipment Expense		 102 100 119 148 138 146 151 150 144 147
Other Operating Expenses		 122 126 285 222 254 241 242 220 210 191
Depreciation Expense		 145 133 162 211 192 222 236 214 210 208
Impairment Charge		 - - - 0.00 0.00 10 25 0.00 90 55
Other Special Charges		 - 0.00 0.00 -52 -105 -59 -11 -162 -79 2.75
Nonoperating Income / (Expense), net		 -4.28 -0.95 -4.14 39 -1.40 -20 -2.07 -17 -27 -7.12
Income Tax Expense		 0.42 1.08 -9.91 -0.74 -1.30 -4.27 3.54 1.26 -0.30 0.76
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.00 -7.33 6.69 8.57 -4.96 -10 14 -12 -34
Basic Earnings per Share		 $0.49 $0.62 ($0.70) $0.31 $0.48 ($0.49) ($0.63) $0.70 ($0.78) ($1.65)
Weighted Average Basic Shares Outstanding		 100.57M 100.57M 105.36M 119.18M 130.69M 133.45M 130.84M 119.01M 105.10M 88.33M
Diluted Earnings per Share		 $0.49 $0.62 ($0.70) $0.31 $0.48 ($0.49) ($0.63) $0.70 ($0.78) ($1.65)
Weighted Average Diluted Shares Outstanding		 100.57M 100.57M 105.36M 119.18M 130.69M 133.45M 130.84M 119.01M 105.10M 88.33M
Weighted Average Basic & Diluted Shares Outstanding		 100.57M 100.57M 105.36M 119.18M 130.69M 133.45M 127.55M 114.02M 91.93M 82.45M
Cash Dividends to Common per Share		 $0.00 $0.00 $0.45 $1.00 $0.90 $0.90 $0.90 $0.90 $0.68 $0.88

Quarterly Income Statements for JBG SMITH Properties

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Income / (Loss) Attributable to Common Shareholders		 -19 21 -11 -58 -33 -32 -24 -27 -60 -46 -19
Consolidated Net Income / (Loss)		 -21 24 -12 -66 -38 -42 -33 -31 -71 -54 -23
Net Income / (Loss) Continuing Operations		 -21 24 -12 -66 -38 -42 -33 -31 -71 -54 -23
Total Pre-Tax Income 		-22 24 -12 -66 -39 -44 -33 -30 -70 -54 -23
Total Revenue		 127 130 128 131 121 117 139 105 105 81 129
Net Interest Income / (Expense)		 -24 -23 -24 -20 -26 -28 3.43 -31 -35 -35 0.70
Total Interest Income		 1.72 4.08 2.28 7.77 1.65 2.10 3.43 4.57 1.49 0.53 0.70
Investment Securities Interest Income		 1.72 4.08 2.28 7.77 1.65 2.10 3.43 4.57 1.49 0.53 0.70
Total Interest Expense		 26 27 26 28 28 30 0.00 35 37 35 0.00
Total Non-Interest Income		 151 153 152 152 148 145 135 136 140 116 129
Other Service Charges		 6.40 6.15 8.64 7.33 6.88 4.68 5.39 5.62 5.21 4.27 5.17
Net Realized & Unrealized Capital Gains on Investments		 - - -0.45 0.00 - 0.00 0.00 0.04 - -4.64 2.23
Other Non-Interest Income		 144 147 143 144 141 141 130 130 126 116 121
Total Non-Interest Expense		 144 106 140 195 134 162 139 135 168 135 118
Net Occupancy & Equipment Expense		 38 36 36 38 35 35 36 39 36 33 35
Other Operating Expenses		 53 58 55 49 49 53 51 40 47 46 46
Depreciation Expense		 56 53 49 50 57 57 51 50 50 48 48
Impairment Charge		 - 0.00 0.00 59 31 17 1.03 0.00 37 8.48 32
Other Special Charges		 -3.26 -41 0.00 -0.91 -38 -0.20 -0.09 5.35 -2.31 -0.54 -42
Nonoperating Income / (Expense), net		 -4.60 0.43 0.51 -2.26 -26 0.98 -32 -0.75 -7.13 -0.59 -34
Income Tax Expense		 -1.34 -0.02 0.61 0.08 -0.97 -1.47 0.60 0.83 0.80 -0.20 -0.08
Net Income / (Loss) Attributable to Noncontrolling Interest		 -2.27 3.14 -1.71 -8.09 -5.07 -9.91 -9.04 -4.33 -11 -7.98 -3.94
Basic Earnings per Share		 ($0.15) $0.19 ($0.10) ($0.58) ($0.29) ($0.36) ($0.27) ($0.32) ($0.70) ($0.56) ($0.29)
Weighted Average Basic Shares Outstanding		 119.01M 114.05M 109.70M 101.45M 105.10M 92.64M 91.03M 85.29M 88.33M 81.52M 68.29M
Diluted Earnings per Share		 ($0.15) $0.19 ($0.10) ($0.58) ($0.29) ($0.36) ($0.27) ($0.32) ($0.70) ($0.56) ($0.29)
Weighted Average Diluted Shares Outstanding		 119.01M 114.05M 109.70M 101.45M 105.10M 92.64M 91.03M 85.29M 88.33M 81.52M 68.29M
Weighted Average Basic & Diluted Shares Outstanding		 114.02M 111.44M 103.44M 95.70M 91.93M 91.90M 86.51M 84.48M 82.45M 73.05M 61.72M

Annual Cash Flow Statements for JBG SMITH Properties

This table details how cash moves in and out of JBG SMITH 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
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
Net Change in Cash & Equivalents		 64 -48 306 61 -257 121 39 -28 -74 -17
Net Cash From Operating Activities		 178 160 74 188 174 169 218 178 183 129
Net Cash From Continuing Operating Activities		 178 160 74 188 174 169 218 178 183 129
Net Income / (Loss) Continuing Operations		 50 62 -79 47 74 -67 -90 99 -92 -178
Consolidated Net Income / (Loss)		 50 62 -79 47 74 -67 -90 99 -92 -178
Depreciation Expense		 147 135 165 216 196 226 240 218 216 215
Amortization Expense		 -0.23 2.24 3.16 3.19 5.55 6.16 6.78 6.61 0.75 5.79
Non-Cash Adjustments to Reconcile Net Income		 -0.17 -2.35 13 -33 -58 26 57 -130 80 77
Changes in Operating Assets and Liabilities, net		 -19 -38 -27 -48 -45 -21 3.23 -15 -22 9.37
Net Cash From Investing Activities		 -237 -259 -7.68 66 -241 -168 -369 524 -98 144
Net Cash From Continuing Investing Activities		 -237 -259 -7.68 66 -241 -168 -369 524 -98 144
Purchase of Property, Leasehold Improvements and Equipment		 - - 0.00 -409 -441 -307 -173 -327 -334 -218
Purchase of Investment Securities		 -244 -263 -229 -32 -185 -86 -250 -157 -58 -13
Sale and/or Maturity of Investments		 0.00 0.00 58 95 385 226 55 1,008 294 375
Net Cash From Financing Activities		 123 51 240 -194 -190 119 190 -730 -159 -291
Net Cash From Continuing Financing Activities		 123 51 240 -194 -190 119 190 -730 -159 -291
Issuance of Debt		 438 80 536 403 202 1,180 490 430 887 506
Repayment of Debt		 -332 -24 -426 -467 -720 -822 -32 -676 -609 -498
Repurchase of Common Equity		 - - - 0.00 0.00 -105 -158 -361 -335 -171
Payment of Dividends		 0.00 -3.76 -31 -125 -147 -135 -136 -124 -109 -74
Other Financing Activities, Net		 16 -0.22 0.00 -5.07 1.57 1.67 26 1.13 8.10 -54
Cash Interest Paid		 54 45 52 65 49 57 62 72 89 116
Cash Income Taxes Paid		 0.68 1.17 3.40 1.97 0.28 -1.19 0.82 1.21 1.92 0.12

Quarterly Cash Flow Statements for JBG SMITH Properties

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

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Net Change in Cash & Equivalents		 -198 48 -119 -34 32 60 -54 -36 13 -63 -29
Net Cash From Operating Activities		 48 43 47 25 68 37 24 26 42 13 19
Net Cash From Continuing Operating Activities		 48 43 47 25 68 37 24 26 42 13 19
Net Income / (Loss) Continuing Operations		 -21 24 -12 -66 -38 -42 -33 -31 -71 -54 -23
Consolidated Net Income / (Loss)		 -21 24 -12 -66 -38 -42 -33 -31 -71 -54 -23
Depreciation Expense		 57 55 50 52 59 58 53 52 52 49 49
Amortization Expense		 1.31 0.49 0.34 0.22 -0.29 2.75 0.80 0.82 1.42 3.80 3.11
Non-Cash Adjustments to Reconcile Net Income		 8.61 -36 13 68 34 20 13 5.20 39 22 -6.28
Changes in Operating Assets and Liabilities, net		 1.56 -1.25 -5.23 -28 13 -2.03 -9.65 -0.08 21 -8.96 -4.21
Net Cash From Investing Activities		 -150 -27 -109 12 25 124 -62 20 62 161 109
Net Cash From Continuing Investing Activities		 -150 -27 -109 12 25 124 -62 20 62 161 109
Purchase of Property, Leasehold Improvements and Equipment		 -108 -78 -86 -77 -92 -48 -65 -59 -46 -29 -33
Purchase of Investment Securities		 -53 -17 -22 -14 -4.66 -2.54 -1.26 -7.70 -1.14 -1.38 -53
Sale and/or Maturity of Investments		 11 69 - 103 122 174 5.10 87 109 192 195
Net Cash From Financing Activities		 -95 32 -57 -72 -62 -101 -17 -83 -91 -237 -158
Net Cash From Continuing Financing Activities		 -95 32 -57 -72 -62 -101 -17 -83 -91 -237 -158
Issuance of Debt		 45 223 320 161 182 62 201 73 170 462 444
Repayment of Debt		 -102 -141 -215 -97 -156 -93 -104 -84 -217 -533 -468
Repurchase of Common Equity		 - -20 -136 -118 -61 -49 -67 -52 -2.40 -148 -225
Payment of Dividends		 -30 -30 -28 -27 -25 -19 -19 -18 -18 -18 -15
Other Financing Activities, Net		 -8.89 -0.65 0.65 9.14 -1.04 -1.18 -28 -1.28 -24 -0.86 107
Cash Interest Paid		 19 23 22 21 23 26 27 31 32 33 30

Annual Balance Sheets for JBG SMITH Properties

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

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024
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
Total Assets		 3,661 6,072 5,997 5,986 6,080 6,386 5,903 5,519 5,021
Cash and Due from Banks		 29 317 261 126 226 264 241 165 146
Restricted Cash		 3.26 22 139 16 38 38 33 36 37
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Premises and Equipment, Net		 3,225 5,006 4,741 4,656 4,768 4,868 4,823 4,537 4,111
Deferred Acquisition Cost		 - - - - - - 94 81 70
Intangible Assets		 - - - - - 202 68 57 47
Other Assets		 329 727 857 1,188 1,048 1,014 644 643 609
Total Liabilities & Shareholders' Equity		 3,661 6,072 5,997 5,986 6,080 6,386 5,903 5,519 5,021
Total Liabilities		 1,539 2,488 2,452 1,987 2,343 2,925 2,708 2,826 2,788
Short-Term Debt		 0.00 116 0.00 200 0.00 300 0.00 62 85
Other Short-Term Payables		 324 139 131 158 103 106 138 125 101
Long-Term Debt		 1,165 2,072 2,136 1,423 1,992 2,176 2,437 2,500 2,485
Other Long-Term Liabilities		 49 161 185 206 248 343 133 139 117
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 0.00 609 558 613 531 523 481 441 424
Total Equity & Noncontrolling Interests		 2,122 2,975 2,987 3,387 3,206 2,938 2,714 2,252 1,809
Total Preferred & Common Equity		 0.00 2,971 2,987 3,386 3,206 2,916 2,682 2,223 0.00
Preferred Stock		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 0.00 2,971 2,987 3,386 3,206 2,916 2,682 2,223 1,809
Common Stock		 - 3,065 3,156 3,634 3,659 3,541 3,265 2,980 2,791
Retained Earnings		 - -96 -176 -231 -413 -609 -629 -777 -997
Accumulated Other Comprehensive Income / (Loss)		 - 1.61 6.70 -17 -40 -16 46 20 15

Quarterly Balance Sheets for JBG SMITH Properties

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

Metric Q2 2022 Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025
Period end date 6/30/2022 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025
Total Assets		 5,580 5,896 5,835 5,784 5,666 5,405 5,325 5,182 4,733 4,549
Cash and Due from Banks		 162 259 280 157 131 221 164 137 81 61
Restricted Cash		 213 213 42 46 38 40 42 33 39 30
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
Premises and Equipment, Net		 4,349 4,564 4,688 4,741 4,600 4,520 4,526 4,430 4,091 3,776
Deferred Acquisition Cost		 - - - - - 80 80 78 69 71
Intangible Assets		 158 156 149 144 140 54 52 49 46 53
Other Assets		 698 704 676 696 758 491 460 455 407 559
Total Liabilities & Shareholders' Equity		 5,580 5,896 5,835 5,784 5,666 5,405 5,325 5,182 4,733 4,549
Total Liabilities		 2,235 2,618 2,638 2,737 2,817 2,796 2,854 2,842 2,743 2,683
Short-Term Debt		 0.00 100 - 62 92 0.00 40 90 162 226
Other Short-Term Payables		 113 130 124 129 135 133 108 100 92 81
Long-Term Debt		 2,011 2,288 2,349 2,406 2,444 2,534 2,594 2,534 2,345 2,259
Other Long-Term Liabilities		 112 99 165 139 146 129 112 118 144 117
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 521 491 458 456 444 436 437 445 418 543
Total Equity & Noncontrolling Interests		 2,823 2,787 2,739 2,591 2,405 2,173 2,035 1,896 1,571 1,323
Total Preferred & Common Equity		 2,792 2,755 2,708 2,559 2,373 2,149 2,020 1,882 0.00 0.00
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 2,792 2,755 2,708 2,559 2,373 2,149 2,020 1,882 1,571 1,323
Common Stock		 3,287 3,267 3,283 3,158 3,044 2,943 2,857 2,790 2,608 2,398
Retained Earnings		 -514 -559 -607 -642 -723 -825 -866 -908 -1,043 -1,075
Accumulated Other Comprehensive Income / (Loss)		 19 47 32 43 52 31 29 -0.48 6.15 -0.40

Annual Metrics And Ratios for JBG SMITH Properties

This table displays calculated financial ratios and metrics derived from JBG SMITH Properties' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
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
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 0.00% 1.75% 18.76% 12.11% 3.93% -9.24% 6.58% -5.18% -6.34% -15.03%
EBITDA Growth		 0.00% 0.11% -58.83% 171.83% 22.31% -34.48% -9.66% 109.73% -55.76% -66.36%
EBIT Growth		 0.00% 17.80% -232.57% 107.62% 1,048.11% -168.95% -64.32% 239.90% -155.24% -161.31%
NOPAT Growth		 0.00% 16.76% -194.42% 111.06% 1,050.13% -147.42% -64.32% 297.34% -139.16% -161.31%
Net Income Growth		 0.00% 24.88% -227.61% 158.94% 59.06% -190.72% -33.40% 210.32% -192.65% -93.82%
EPS Growth		 0.00% 26.53% -212.90% 144.29% 54.84% -202.08% -28.57% 211.11% -211.43% -111.54%
Operating Cash Flow Growth		 0.00% -10.49% -53.50% 153.69% -7.55% -2.85% 28.75% -18.19% 3.00% -29.44%
Free Cash Flow Firm Growth		 0.00% 0.00% 21.08% 103.83% 37.51% -205.92% -88.53% 257.27% -21.05% 0.23%
Invested Capital Growth		 0.00% 0.00% 75.60% -1.58% -1.03% 1.89% 3.65% -5.13% -6.71% -8.60%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 2.76% -2.50% -1.80% 0.41% -0.88% -1.09% -3.63%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 8.23% 13.98% -25.17% -1.50% 7.61% 3.26% -52.03%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% 102.32% 199.81% -317.78% 3.73% 29.31% 6.65% -41.66%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% 21.17% 205.25% -221.86% 9.45% 23.81% 6.65% -41.66%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 73.50% 103.44% -411.41% -17.20% 75.19% -22.45% -22.95%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 416.67% 118.18% -545.45% -16.67% 70.73% -21.88% -33.06%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% -9.03% 0.40% 5.98% -10.67% 11.27% -8.03% 12.80% -16.88%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 99.89% 46.12% -247.99% 222.45% 42.99% -1.22%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% -0.31% -0.60% -3.71% 4.10% -0.60% -2.43% -3.26%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 47.61% 46.85% 16.24% 39.38% 46.34% 33.46% 28.36% 62.73% 29.63% 11.73%
EBIT Margin		 12.86% 14.89% -16.63% 1.13% 12.48% -9.48% -14.62% 21.58% -12.72% -39.13%
Profit (Net Income) Margin		 11.75% 14.42% -15.50% 8.15% 12.47% -12.46% -15.60% 18.15% -17.95% -40.95%
Tax Burden Percent		 99.16% 98.28% 88.86% 101.61% 101.79% 94.04% 104.11% 98.74% 99.68% 100.43%
Interest Burden Percent		 92.12% 98.52% 104.88% 709.48% 98.12% 139.73% 102.46% 85.19% 141.53% 104.19%
Effective Tax Rate		 0.84% 1.72% 0.00% -1.61% -1.79% 0.00% 0.00% 1.26% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 3.83% -1.31% 0.11% 1.34% -0.63% -1.01% 2.01% -0.84% -2.36%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 3.67% -2.49% 1.97% 1.26% -2.37% -2.39% 1.31% -2.68% -4.66%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 2.01% -1.46% 1.19% 0.63% -1.11% -1.48% 0.97% -2.28% -4.85%
Return on Equity (ROE)		 0.00% 5.84% -2.77% 1.31% 1.97% -1.74% -2.49% 2.97% -3.12% -7.22%
Cash Return on Invested Capital (CROIC)		 0.00% -196.17% -56.17% 1.70% 2.37% -2.50% -4.59% 7.28% 6.11% 6.62%
Operating Return on Assets (OROA)		 0.00% 1.75% -1.74% 0.11% 1.24% -0.85% -1.35% 1.92% -1.14% -3.22%
Return on Assets (ROA)		 0.00% 1.69% -1.63% 0.77% 1.24% -1.11% -1.44% 1.61% -1.61% -3.37%
Return on Common Equity (ROCE)		 0.00% 0.00% -1.44% 1.09% 1.66% -1.48% -2.12% 2.50% -2.59% -5.91%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -2.66% 1.56% 2.19% -2.10% -3.08% 3.69% -4.13% -9.83%
Net Operating Profit after Tax (NOPAT)		 54 63 -59 6.57 76 -36 -59 116 -46 -119
NOPAT Margin		 12.76% 14.64% -11.64% 1.15% 12.71% -6.64% -10.24% 21.30% -8.91% -27.39%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.16% 1.17% -1.85% 0.08% 1.74% 1.38% 0.70% 1.85% 2.29%
SG&A Expenses to Revenue		 24.04% 23.34% 29.02% 32.18% 30.23% 32.85% 29.03% 28.49% 28.30% 33.77%
Operating Expenses to Revenue		 87.14% 85.11% 116.63% 98.87% 87.52% 109.48% 114.62% 78.42% 112.72% 139.13%
Earnings before Interest and Taxes (EBIT)		 54 64 -85 6.47 74 -51 -84 118 -65 -170
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 201 201 83 225 276 181 163 342 151 51
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 1.09 1.15 1.32 1.11 1.13 0.73 0.69 0.72
Price to Tangible Book Value (P/TBV)		 0.00 0.00 1.09 1.15 1.32 1.11 1.21 0.75 0.71 0.74
Price to Revenue (P/Rev)		 0.00 0.00 6.36 6.00 7.50 6.59 5.73 3.58 3.02 2.99
Price to Earnings (P/E)		 0.00 0.00 0.00 85.92 68.03 0.00 0.00 22.85 0.00 0.00
Dividend Yield		 0.00% 0.00% 1.63% 3.17% 2.71% 3.35% 3.54% 5.25% 5.59% 5.69%
Earnings Yield		 0.00% 0.00% 0.00% 1.16% 1.47% 0.00% 0.00% 4.38% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.99 1.01 1.17 1.02 1.01 0.82 0.83 0.86
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 11.19 10.01 11.02 10.78 10.46 8.48 8.56 9.47
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 68.89 25.41 23.78 32.22 36.88 13.53 28.88 80.70
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 885.31 88.29 0.00 0.00 39.33 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 871.30 86.74 0.00 0.00 39.83 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 76.98 30.42 37.67 34.42 27.64 25.99 23.84 31.76
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 58.72 48.89 0.00 0.00 10.99 13.15 12.33
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 0.00 0.55 0.61 0.60 0.41 0.53 0.72 0.76 0.95 1.15
Long-Term Debt to Equity		 0.00 0.55 0.58 0.60 0.36 0.53 0.63 0.76 0.93 1.11
Financial Leverage		 0.00 0.55 0.59 0.61 0.50 0.47 0.62 0.74 0.85 1.04
Leverage Ratio		 0.00 1.73 1.71 1.69 1.59 1.56 1.73 1.85 1.94 2.14
Compound Leverage Factor		 0.00 1.70 1.79 12.01 1.56 2.18 1.77 1.57 2.75 2.23
Debt to Total Capital		 0.00% 35.44% 37.91% 37.59% 28.87% 34.77% 41.71% 43.27% 48.76% 53.51%
Short-Term Debt to Total Capital		 0.00% 0.00% 2.01% 0.00% 3.56% 0.00% 5.05% 0.00% 1.18% 1.77%
Long-Term Debt to Total Capital		 0.00% 35.44% 35.90% 37.59% 25.31% 34.77% 36.65% 43.27% 47.58% 51.74%
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		 0.00% 64.56% 10.63% 9.83% 10.90% 9.27% 9.18% 9.12% 8.94% 8.82%
Common Equity to Total Capital		 0.00% 0.00% 51.47% 52.58% 60.23% 55.96% 49.11% 47.61% 42.30% 37.67%
Debt to EBITDA		 0.00 5.79 26.40 9.48 5.89 11.03 15.18 7.12 16.93 50.48
Net Debt to EBITDA		 0.00 5.63 22.31 7.70 5.37 9.57 13.33 6.32 15.60 46.88
Long-Term Debt to EBITDA		 0.00 5.79 25.00 9.48 5.16 11.03 13.34 7.12 16.52 48.81
Debt to NOPAT		 0.00 18.52 -36.84 325.04 21.48 -55.58 -42.06 20.98 -56.31 -21.61
Net Debt to NOPAT		 0.00 18.01 -31.14 264.23 19.59 -48.23 -36.93 18.62 -51.90 -20.07
Long-Term Debt to NOPAT		 0.00 18.52 -34.89 325.04 18.83 -55.58 -36.96 20.98 -54.94 -20.90
Noncontrolling Interest Sharing Ratio		 0.00% 100.00% 47.94% 16.43% 15.52% 14.79% 14.95% 15.91% 16.70% 18.14%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -3,224 -2,544 97 134 -142 -268 421 332 333
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 39.45% 54.97% 125.66% 54.49% 54.94% 59.35%
Free Cash Flow to Firm to Interest Expense		 0.00 -62.26 -43.76 1.31 2.54 -2.28 -3.94 5.55 3.06 2.48
Operating Cash Flow to Interest Expense		 3.51 3.08 1.28 2.53 3.30 2.71 3.20 2.34 1.69 0.97
Operating Cash Flow Less CapEx to Interest Expense		 3.51 3.08 1.28 2.58 -5.07 -2.22 0.65 -1.96 -1.38 -0.66
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.12 0.10 0.09 0.10 0.09 0.09 0.09 0.09 0.08
Fixed Asset Turnover		 0.00 0.13 0.12 0.12 0.13 0.11 0.12 0.11 0.11 0.10
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 0.00 3,287 5,772 5,681 5,623 5,729 5,938 5,633 5,255 4,803
Invested Capital Turnover		 0.00 0.26 0.11 0.10 0.11 0.10 0.10 0.09 0.09 0.09
Increase / (Decrease) in Invested Capital		 0.00 3,287 2,485 -91 -58 106 209 -305 -378 -452
Enterprise Value (EV)		 0.00 0.00 5,710 5,724 6,554 5,818 6,016 4,628 4,372 4,109
Market Capitalization		 0.00 0.00 3,248 3,430 4,461 3,559 3,296 1,951 1,540 1,298
Book Value per Share		 $0.00 $0.00 $25.18 $24.70 $25.25 $24.20 $22.48 $23.57 $23.23 $21.41
Tangible Book Value per Share		 $0.00 $0.00 $25.18 $24.70 $25.25 $24.20 $20.92 $22.97 $22.64 $20.86
Total Capital		 0.00 3,287 5,772 5,681 5,623 5,729 5,938 5,633 5,255 4,803
Total Debt		 0.00 1,165 2,188 2,136 1,623 1,992 2,476 2,437 2,562 2,570
Total Long-Term Debt		 0.00 1,165 2,072 2,136 1,423 1,992 2,176 2,437 2,500 2,485
Net Debt		 0.00 1,133 1,849 1,736 1,481 1,728 2,174 2,163 2,362 2,387
Capital Expenditures (CapEx)		 0.00 0.00 0.00 -3.89 441 307 173 327 334 218
Net Nonoperating Expense (NNE)		 4.25 0.93 20 -40 1.42 31 31 17 46 59
Net Nonoperating Obligations (NNO)		 0.00 1,165 2,188 2,136 1,623 1,992 2,476 2,437 2,562 2,570
Total Depreciation and Amortization (D&A)		 147 137 168 219 201 232 247 224 216 221
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.49 $0.62 ($0.70) $0.31 $0.48 ($0.49) ($0.63) $0.70 ($0.78) ($1.65)
Adjusted Weighted Average Basic Shares Outstanding		 100.57M 100.57M 117.95M 122.59M 130.69M 131.60M 130.84M 119.01M 105.10M 88.33M
Adjusted Diluted Earnings per Share		 $0.49 $0.62 ($0.70) $0.31 $0.48 ($0.49) ($0.63) $0.70 ($0.78) ($1.65)
Adjusted Weighted Average Diluted Shares Outstanding		 100.57M 100.57M 117.95M 119.18M 130.69M 131.60M 130.84M 119.01M 105.10M 88.33M
Adjusted Basic & Diluted Earnings per Share		 $0.49 $0.00 $0.00 $0.00 $0.48 ($0.49) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 100.57M 100.57M 105.36M 119.18M 134.88M 133.45M 127.55M 114.02M 91.93M 82.45M
Normalized Net Operating Profit after Tax (NOPAT)		 54 69 -59 -32 -22 -70 -49 -44 -38 -78
Normalized NOPAT Margin		 12.76% 16.12% -11.64% -5.59% -3.62% -13.03% -8.55% -8.00% -7.41% -18.01%
Pre Tax Income Margin		 11.85% 14.67% -17.44% 8.02% 12.25% -13.25% -14.98% 18.38% -18.01% -40.77%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 1.07 1.24 -1.46 0.09 1.41 -0.82 -1.24 1.55 -0.60 -1.27
NOPAT to Interest Expense		 1.06 1.21 -1.02 0.09 1.43 -0.58 -0.87 1.53 -0.42 -0.89
EBIT Less CapEx to Interest Expense		 1.07 1.24 -1.46 0.14 -6.96 -5.76 -3.79 -2.75 -3.67 -2.89
NOPAT Less CapEx to Interest Expense		 1.06 1.21 -1.02 0.14 -6.94 -5.51 -3.41 -2.77 -3.49 -2.51
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 6.07% -39.34% 268.40% 198.57% -200.77% -151.48% 125.37% -119.20% -41.39%
Augmented Payout Ratio		 0.00% 6.07% -39.34% 268.40% 198.57% -356.54% -327.23% 490.11% -484.83% -137.46%

Quarterly Metrics And Ratios for JBG SMITH Properties

This table displays calculated financial ratios and metrics derived from JBG SMITH Properties' official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Period end date 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -3.68% -18.29% -1.54% 1.71% -4.44% -10.04% -16.64% -19.83% -13.50% -30.52% -6.73%
EBITDA Growth		 145.92% 37.39% -80.55% -126.15% 11.72% -79.01% -45.19% 293.34% -121.28% -100.36% 19.83%
EBIT Growth		 60.26% 746.11% -108.30% -744.74% 26.34% -287.05% -168.17% 53.37% -385.69% -19.43% 1,914.89%
NOPAT Growth		 54.60% 1,023.63% -105.93% -744.74% 26.34% -230.85% -168.17% 53.37% -385.69% -19.43% 1,914.89%
Net Income Growth		 67.08% 31,671.43% -108.66% -206.29% -80.64% -273.55% -172.68% 52.63% -88.08% -27.28% 30.62%
EPS Growth		 65.91% 0.00% -109.80% -241.18% -93.33% -289.47% -170.00% 44.83% -141.38% -55.56% -7.41%
Operating Cash Flow Growth		 -24.58% -38.75% 22.99% 12.08% 43.65% -13.11% -49.21% 3.59% -38.37% -65.08% -20.84%
Free Cash Flow Firm Growth		 223.98% 1,475.41% -133.91% 652.41% 26.08% 76.97% 330.08% 69.24% 10.63% 63.79% 86.34%
Invested Capital Growth		 -5.13% -3.25% 2.98% -4.96% -6.71% -7.27% -7.43% -7.82% -8.60% -12.58% -14.78%
Revenue Q/Q Growth		 -1.89% 2.70% -1.62% 2.61% -7.83% -3.32% -8.83% -1.31% -0.55% -22.35% 59.03%
EBITDA Q/Q Growth		 -9.76% 93.76% -51.06% -130.55% 485.61% -63.59% 27.77% 7.77% -142.44% 99.39% 108,072.88%
EBIT Q/Q Growth		 -132.99% 235.68% -150.93% -424.65% 79.69% -244.58% 26.98% 8.77% -111.59% 15.27% 121.04%
NOPAT Q/Q Growth		 -132.99% 293.96% -135.63% -424.65% 79.69% -244.58% 26.98% 8.77% -111.59% 15.27% 121.04%
Net Income Q/Q Growth		 3.39% 216.59% -150.41% -439.42% 43.02% -12.02% 20.80% 6.30% -126.26% 24.20% 56.83%
EPS Q/Q Growth		 11.76% 226.67% -152.63% -480.00% 50.00% -24.14% 25.00% -18.52% -118.75% 20.00% 48.21%
Operating Cash Flow Q/Q Growth		 109.85% -10.57% 9.77% -45.59% 168.95% -45.91% -35.83% 10.97% 60.00% -69.35% 45.47%
Free Cash Flow Firm Q/Q Growth		 830.36% -28.12% -179.94% 240.76% 55.90% 0.89% 3.92% 3.54% 1.91% 49.38% 25.07%
Invested Capital Q/Q Growth		 -0.60% -1.54% -0.56% -2.34% -2.43% -2.13% -0.73% -2.76% -3.26% -6.39% -3.23%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 32.15% 60.67% 30.18% -8.99% 37.59% 14.16% 19.84% 21.67% -9.25% -0.07% 49.23%
EBIT Margin		 -13.87% 18.33% -9.49% -48.51% -10.69% -38.11% -30.52% -28.22% -60.03% -65.51% 8.67%
Profit (Net Income) Margin		 -16.45% 18.67% -9.57% -50.29% -31.09% -36.02% -31.29% -29.71% -67.60% -65.99% -17.91%
Tax Burden Percent		 93.98% 100.07% 105.25% 100.12% 97.49% 96.64% 101.82% 102.73% 101.15% 99.63% 99.64%
Interest Burden Percent		 126.16% 101.81% 95.80% 103.55% 298.25% 97.82% 100.69% 102.51% 111.33% 101.11% -207.42%
Effective Tax Rate		 0.00% -0.07% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -0.92% 1.68% -0.63% -3.17% -0.70% -2.48% -1.92% -1.72% -3.63% -3.79% 0.50%
ROIC Less NNEP Spread (ROIC-NNEP)		 -1.26% 1.70% -0.80% -4.05% -1.85% -2.93% -2.33% -2.13% -4.67% -4.44% -0.71%
Return on Net Nonoperating Assets (RNNOA)		 -0.93% 1.20% -0.56% -3.25% -1.57% -2.47% -2.16% -2.11% -4.87% -4.87% -0.84%
Return on Equity (ROE)		 -1.85% 2.87% -1.19% -6.43% -2.27% -4.95% -4.07% -3.83% -8.50% -8.66% -0.34%
Cash Return on Invested Capital (CROIC)		 7.28% 5.85% -3.11% 4.21% 6.11% 5.80% 5.68% 6.52% 6.62% 10.83% 13.49%
Operating Return on Assets (OROA)		 -1.23% 1.56% -0.86% -4.33% -0.96% -3.38% -2.62% -2.34% -4.95% -5.15% 0.68%
Return on Assets (ROA)		 -1.46% 1.59% -0.87% -4.49% -2.78% -3.19% -2.68% -2.47% -5.57% -5.19% -1.41%
Return on Common Equity (ROCE)		 -1.55% 2.41% -0.99% -5.38% -1.89% -4.14% -3.38% -3.14% -6.95% -7.00% -0.26%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 4.56% -1.19% -3.16% 0.00% -7.36% -8.88% -7.68% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -12 24 -8.51 -45 -9.07 -31 -23 -21 -44 -37 7.85
NOPAT Margin		 -9.71% 18.34% -6.64% -33.96% -7.48% -26.68% -21.37% -19.75% -42.02% -45.85% 6.07%
Net Nonoperating Expense Percent (NNEP)		 0.35% -0.02% 0.17% 0.87% 1.14% 0.45% 0.42% 0.41% 1.04% 0.65% 1.21%
SG&A Expenses to Revenue		 30.41% 27.62% 28.04% 28.63% 28.96% 30.12% 33.95% 37.26% 34.18% 41.09% 26.95%
Operating Expenses to Revenue		 113.87% 81.67% 109.49% 148.51% 110.69% 138.11% 130.52% 128.22% 160.03% 165.51% 91.33%
Earnings before Interest and Taxes (EBIT)		 -18 24 -12 -64 -13 -45 -33 -30 -63 -53 11
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 41 79 39 -12 46 17 21 23 -9.69 -0.06 64
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.73 0.59 0.61 0.60 0.69 0.68 0.69 0.80 0.72 0.85 0.96
Price to Tangible Book Value (P/TBV)		 0.75 0.62 0.65 0.64 0.71 0.70 0.70 0.83 0.74 0.87 1.00
Price to Revenue (P/Rev)		 3.58 3.07 3.05 2.76 3.02 2.95 2.91 3.36 2.99 3.33 3.25
Price to Earnings (P/E)		 22.85 14.88 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 5.25% 6.47% 6.38% 6.54% 5.59% 5.54% 6.80% 5.58% 5.69% 5.43% 4.05%
Earnings Yield		 4.38% 6.72% 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)		 0.82 0.74 0.78 0.79 0.83 0.82 0.84 0.89 0.86 0.92 0.97
Enterprise Value to Revenue (EV/Rev)		 8.48 7.94 8.41 8.26 8.56 8.44 8.95 9.82 9.47 10.38 10.80
Enterprise Value to EBITDA (EV/EBITDA)		 13.53 11.28 21.24 29.11 28.88 47.24 59.64 41.68 80.70 120.59 93.74
Enterprise Value to EBIT (EV/EBIT)		 39.33 28.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 39.83 28.63 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)		 25.99 27.15 27.05 26.25 23.84 23.64 27.56 28.42 31.76 39.26 41.87
Enterprise Value to Free Cash Flow (EV/FCFF)		 10.99 12.44 0.00 18.36 13.15 13.56 14.13 13.12 12.33 7.92 6.59
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.76 0.73 0.81 0.89 0.95 0.97 1.07 1.12 1.15 1.26 1.33
Long-Term Debt to Equity		 0.76 0.73 0.79 0.86 0.93 0.97 1.05 1.08 1.11 1.18 1.21
Financial Leverage		 0.74 0.70 0.70 0.80 0.85 0.84 0.92 0.99 1.04 1.10 1.18
Leverage Ratio		 1.85 1.84 1.78 1.89 1.94 1.94 2.01 2.09 2.14 2.20 2.28
Compound Leverage Factor		 2.33 1.87 1.70 1.95 5.79 1.89 2.03 2.14 2.38 2.23 -4.72
Debt to Total Capital		 43.27% 42.36% 44.75% 47.09% 48.76% 49.27% 51.59% 52.85% 53.51% 55.76% 57.11%
Short-Term Debt to Total Capital		 0.00% 0.00% 1.12% 1.71% 1.18% 0.00% 0.78% 1.81% 1.77% 3.60% 5.19%
Long-Term Debt to Total Capital		 43.27% 42.36% 43.63% 45.38% 47.58% 49.27% 50.81% 51.04% 51.74% 52.15% 51.92%
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% 0.00%
Noncontrolling Interests to Total Capital		 9.12% 8.81% 8.84% 8.85% 8.94% 8.95% 8.85% 9.24% 8.82% 9.30% 12.48%
Common Equity to Total Capital		 47.61% 48.83% 46.41% 44.06% 42.30% 41.78% 39.56% 37.91% 37.67% 34.94% 30.40%
Debt to EBITDA		 7.12 6.46 12.12 17.30 16.93 28.48 36.84 24.72 50.48 73.14 55.45
Net Debt to EBITDA		 6.32 5.58 11.13 16.15 15.60 25.56 33.96 23.12 46.88 69.63 53.42
Long-Term Debt to EBITDA		 7.12 6.46 11.82 16.67 16.52 28.48 36.28 23.87 48.81 68.41 50.40
Debt to NOPAT		 20.98 16.40 -262.60 -52.03 -56.31 -27.12 -24.44 -31.26 -21.61 -20.06 -21.29
Net Debt to NOPAT		 18.62 14.15 -241.02 -48.56 -51.90 -24.33 -22.53 -29.23 -20.07 -19.09 -20.51
Long-Term Debt to NOPAT		 20.98 16.40 -256.00 -50.14 -54.94 -27.12 -24.07 -30.19 -20.90 -18.76 -19.36
Noncontrolling Interest Sharing Ratio		 15.91% 16.07% 16.28% 16.32% 16.70% 16.35% 17.02% 18.02% 18.14% 19.10% 22.94%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 293 210 -168 237 369 372 387 400 408 609 762
Operating Cash Flow to CapEx		 44.18% 54.42% 54.14% 33.26% 74.11% 77.20% 36.32% 45.00% 91.79% 44.46% 56.46%
Free Cash Flow to Firm to Interest Expense		 11.39 7.83 -6.51 8.48 13.13 12.34 12.09 11.35 11.13 17.31 0.00
Operating Cash Flow to Interest Expense		 1.86 1.59 1.81 0.91 2.44 1.23 0.74 0.75 1.15 0.37 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -2.35 -1.33 -1.53 -1.83 -0.85 -0.36 -1.30 -0.91 -0.10 -0.46 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.08 0.08 0.08 0.08
Fixed Asset Turnover		 0.11 0.11 0.11 0.11 0.11 0.11 0.10 0.10 0.10 0.09 0.09
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 5,633 5,546 5,515 5,386 5,255 5,143 5,105 4,964 4,803 4,496 4,351
Invested Capital Turnover		 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.09 0.08 0.08
Increase / (Decrease) in Invested Capital		 -305 -186 160 -281 -378 -403 -410 -421 -452 -647 -754
Enterprise Value (EV)		 4,628 4,102 4,324 4,267 4,372 4,203 4,265 4,424 4,109 4,133 4,201
Market Capitalization		 1,951 1,585 1,571 1,423 1,540 1,469 1,385 1,512 1,298 1,328 1,264
Book Value per Share		 $23.57 $23.75 $22.96 $22.94 $23.23 $23.20 $21.98 $21.76 $21.41 $19.05 $18.11
Tangible Book Value per Share		 $22.97 $22.44 $21.67 $21.59 $22.64 $22.61 $21.41 $21.19 $20.86 $18.50 $17.38
Total Capital		 5,633 5,546 5,515 5,386 5,255 5,143 5,105 4,964 4,803 4,496 4,351
Total Debt		 2,437 2,349 2,468 2,536 2,562 2,534 2,634 2,624 2,570 2,507 2,485
Total Long-Term Debt		 2,437 2,349 2,406 2,444 2,500 2,534 2,594 2,534 2,485 2,345 2,259
Net Debt		 2,163 2,027 2,265 2,367 2,362 2,274 2,428 2,454 2,387 2,386 2,394
Capital Expenditures (CapEx)		 108 78 86 77 92 48 65 59 46 29 33
Net Nonoperating Expense (NNE)		 8.54 -0.43 3.75 21 29 11 11 10 27 16 31
Net Nonoperating Obligations (NNO)		 2,437 2,349 2,468 2,536 2,562 2,534 2,634 2,624 2,570 2,507 2,485
Total Depreciation and Amortization (D&A)		 58 55 51 52 58 61 54 53 53 53 52
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.15) $0.19 ($0.10) ($0.58) ($0.29) ($0.36) ($0.27) ($0.32) ($0.70) ($0.56) ($0.29)
Adjusted Weighted Average Basic Shares Outstanding		 119.01M 114.05M 109.70M 101.45M 105.10M 92.64M 91.03M 85.29M 88.33M 81.52M 68.29M
Adjusted Diluted Earnings per Share		 ($0.15) $0.19 ($0.10) ($0.58) ($0.29) ($0.36) ($0.27) ($0.32) ($0.70) ($0.56) ($0.29)
Adjusted Weighted Average Diluted Shares Outstanding		 119.01M 114.05M 109.70M 101.45M 105.10M 92.64M 91.03M 85.29M 88.33M 81.52M 68.29M
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		 114.02M 111.44M 103.44M 95.70M 91.93M 91.90M 86.51M 84.48M 82.45M 73.05M 61.72M
Normalized Net Operating Profit after Tax (NOPAT)		 -15 -12 -8.51 -3.75 -14 -19 -22 -17 -20 -32 0.84
Normalized NOPAT Margin		 -11.51% -9.05% -6.64% -2.85% -11.42% -16.51% -20.75% -16.20% -18.73% -39.02% 0.65%
Pre Tax Income Margin		 -17.50% 18.66% -9.09% -50.23% -31.89% -37.28% -30.73% -28.92% -66.83% -66.23% -17.98%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -0.68 0.89 -0.47 -2.29 -0.46 -1.48 -1.02 -0.84 -1.72 -1.51 0.00
NOPAT to Interest Expense		 -0.48 0.89 -0.33 -1.60 -0.32 -1.04 -0.71 -0.59 -1.20 -1.06 0.00
EBIT Less CapEx to Interest Expense		 -4.89 -2.03 -3.82 -5.03 -3.75 -3.07 -3.07 -2.51 -2.97 -2.34 0.00
NOPAT Less CapEx to Interest Expense		 -4.68 -2.03 -3.68 -4.34 -3.61 -2.63 -2.76 -2.25 -2.45 -1.89 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 125.37% 98.12% -384.95% -151.85% -119.20% -62.38% -50.17% -56.11% -41.39% -38.14% -38.26%
Augmented Payout Ratio		 490.11% 333.18% -1,108.72% -517.50% -484.83% -292.87% -215.09% -215.08% -137.46% -180.23% -276.92%

Key Financial Trends

JBG SMITH Properties (NYSE: JBGS) continues to navigate a challenging financial environment based on its recent quarterly financial data spanning from Q2 2022 through Q2 2025. Here's a summary analysis focused on key trends and important metrics concerning the company's profitability, cash flows, and balance sheet health over the last several years.

  • Net Cash from Operating Activities consistently remains positive in recent quarters, indicating ongoing cash generation from core operations (e.g., $18.8M in Q2 2025 and $12.9M in Q1 2025), despite net losses.
  • The company has been actively investing in property and equipment, reflecting commitment to asset growth and portfolio enhancement (e.g., $33.3M in Q2 2025 CapEx investments, $29.1M in Q1 2025).
  • Sales/maturities of investments generated significant cash inflows in the latest quarters (e.g., $195.5M in Q2 2025), supporting liquidity and operational funding needs.
  • Despite net losses, depreciation consistently contributes a large non-cash expense (around $47-51M quarterly), illustrating substantial property asset base investment and providing tax shield benefits.
  • The balance sheet remains well-capitalized with total assets increasing from approximately $5.58B in Q2 2022 to around $4.55B in Q2 2025, reflecting continued investments and portfolio scale.
  • Net interest expense turned to zero in Q2 2025, improving from previous quarters of negative interest income impacting net profit, potentially indicating debt structure changes or interest capitalization.
  • The company maintains a sizable long-term debt position around $2.2-$2.6B depending on quarter but is balanced with equity of roughly $1.3-$2.7B depending on period.
  • JBG SMITH has reported net losses over the recent quarters, with a loss in Q2 2025 of approximately $23.2M and sustained losses in prior quarters, extending a trend from previous years.
  • Significant impairment charges are notable in recent periods, such as $31.8M in Q2 2025 and high charges in previous quarters, which negatively impact income and reflect asset write-downs.
  • Repurchase of common equity continues to be high, draining cash reserves (e.g., $225.3M in Q2 2025), which may concern investors about capital allocation amid operating losses and debt.

Overall, JBG SMITH Properties demonstrates stable cash flow generation from operations and ongoing investment in its property assets. However, the company faces persistent net losses and impairment expenses that have taxed profitability. The balance sheet shows solid asset backing, though leverage remains significant. Investors should weigh the strong cash operating inflows and portfolio growth against the challenges of losses and aggressive equity repurchases when considering JBGS for long-term investment.

09/02/25 10:00 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About JBG SMITH Properties' Financials

When does JBG SMITH Properties' fiscal year end?

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

How has JBG SMITH Properties' net income changed over the last 9 years?

JBG SMITH Properties' net income appears to be on an upward trend, with a most recent value of -$177.75 million in 2024, falling from $49.63 million in 2015. The previous period was -$91.71 million in 2023. View JBG SMITH Properties' forecast to see where analysts expect JBG SMITH Properties to go next.

How has JBG SMITH Properties' revenue changed over the last 9 years?

Over the last 9 years, JBG SMITH Properties' total revenue changed from $422.34 million in 2015 to $434.08 million in 2024, a change of 2.8%.

How much debt does JBG SMITH Properties have?

JBG SMITH Properties' total liabilities were at $2.79 billion at the end of 2024, a 1.3% decrease from 2023, and a 81.2% increase since 2016.

How much cash does JBG SMITH Properties have?

In the past 8 years, JBG SMITH Properties' cash and equivalents has ranged from $29 million in 2016 to $316.68 million in 2017, and is currently $145.80 million as of their latest financial filing in 2024.

How has JBG SMITH Properties' book value per share changed over the last 9 years?

Over the last 9 years, JBG SMITH Properties' book value per share changed from 0.00 in 2015 to 21.41 in 2024, a change of 2,141.5%.


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This page (NYSE:JBGS) was last updated on 9/2/2025 by MarketBeat.com Staff
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