FSP · Franklin Street Properties Corp /Ma/ - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $107.16M | $120.11M | $145.71M | $165.62M | $209.36M | $245.85M |
| Cost of Revenue | $42.04M | $45.04M | $50.73M | $52.82M | $60.88M | $66.94M |
| Gross Profit | $65.12M | $75.07M | $94.97M | $112.80M | $148.48M | $178.91M |
| R&D | - | - | - | - | - | - |
| SG&A | $12.43M | $13.88M | $14.02M | $13.88M | $15.90M | $15.00M |
| Total Operating Expenses | $140.00M | $152.84M | $171.01M | $187.94M | $228.66M | $254.91M |
| D&A | $45.33M | $47.74M | $57.24M | $65.70M | $81.04M | $91.58M |
| Operating Income | ($44.77M) | ($52.51M) | ($47.83M) | $1.30M | $92.93M | $32.87M |
| Interest Expense | - | - | $24.32M | $22.81M | $32.27M | $36.03M |
| Income Tax | $189.0K | $216.0K | $279.0K | $204.0K | $638.0K | $250.0K |
| Net Income | ($44.96M) | ($52.72M) | ($48.11M) | $1.09M | $92.72M | $32.62M |
| EPS - Basic | ($0.43) | ($0.51) | ($0.47) | $0.01 | $0.30 | - |
| EPS - Diluted | ($0.43) | ($0.51) | ($0.47) | $0.01 | $0.30 | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $30.57M | $41.12M | $125.53M | $3.74M | $34.31M | $2.65M |
| Accounts Receivable | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - |
| Total Assets | $892.88M | $946.93M | $1.17B | $1.24B | $1.36B | $1.79B |
| Current Liabilities | - | - | - | - | - | - |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $285.91M | $291.07M | $456.52M | $472.93M | $580.97M | $1.03B |
| Stockholders' Equity | $606.98M | $655.86M | $712.80M | $768.74M | $783.20M | $768.09M |
| Retained Earnings | - | - | - | - | - | - |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $3.75M | $8.99M | $17.87M | $15.23M | $36.36M | $68.45M |
| Investing Cash Flow | ($10.31M) | $70.28M | $113.64M | $74.04M | $505.47M | $11.04M |
| Financing Cash Flow | ($5.56M) | ($164.47M) | ($10.25M) | ($123.39M) | ($505.24M) | ($85.13M) |
| CapEx | $16.41M | $25.21M | $31.64M | $54.91M | $64.83M | $77.92M |
| Free Cash Flow | ($12.66M) | ($16.23M) | ($13.77M) | ($39.68M) | ($28.47M) | ($9.47M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 60.8% | 62.5% | 65.2% | 68.1% | 70.9% | 72.8% |
| Operating margin | -41.8% | -43.7% | -32.8% | 0.8% | 44.4% | 13.4% |
| EBITDA margin | 0.5% | -4.0% | 6.5% | 40.5% | 83.1% | 50.6% |
| Net margin | -42.0% | -43.9% | -33.0% | 0.7% | 44.3% | 13.3% |
| Free cash flow margin | -11.8% | -13.5% | -9.5% | -24.0% | -13.6% | -3.9% |
| FCF / Net income | 0.28 | 0.31 | 0.29 | -36.27 | -0.31 | -0.29 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 11.6% | 11.6% | 9.6% | 8.4% | 7.6% | 6.1% |
| Effective tax rate | - | - | - | 15.7% | 0.7% | 0.8% |
| Return on assets | -5.0% | -5.6% | -4.1% | 0.1% | 6.8% | 1.8% |
| Return on equity | -7.4% | -8.0% | -6.7% | 0.1% | 11.8% | 4.2% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | -2.0x | 0.1x | 2.9x | 0.9x |
| Equity multiplier | 1.47 | 1.44 | 1.64 | 1.62 | 1.74 | 2.33 |
| Liabilities / Assets | 0.32 | 0.31 | 0.39 | 0.38 | 0.43 | 0.57 |
| Efficiency | ||||||
| Asset turnover | 0.12 | 0.13 | 0.12 | 0.13 | 0.15 | 0.14 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | 273.0x | 19.8x | - |
| P / B | 0.2x | 0.3x | 0.4x | 0.4x | 0.8x | - |
| P / S | 0.9x | 1.6x | 1.8x | 1.7x | 3.0x | - |
| EV / EBITDA | 121.4x | - | 14.8x | 4.2x | 3.5x | - |
| Growth | ||||||
| Revenue growth (YoY) | -10.8% | -17.6% | -12.0% | -20.9% | -14.8% | - |
| Revenue CAGR (3y) | -13.5% | -16.9% | -16.0% | - | -8.0% | -3.4% |
| Revenue CAGR (5y) | -15.3% | - | -11.5% | -9.5% | -3.5% | 0.2% |
| Gross profit growth (YoY) | -13.3% | -21.0% | -15.8% | -24.0% | -17.0% | - |
| Operating income growth (YoY) | 14.7% | -9.8% | - | -98.6% | 182.8% | 395.3% |
| Net income growth (YoY) | 14.7% | -9.6% | - | -98.8% | 184.3% | 403.7% |
| EPS growth (YoY) | 15.7% | -8.5% | - | -96.7% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 22.0% | -17.8% | 65.3% | -39.4% | -200.6% | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | -7.5% | -8.0% | -7.3% | -1.8% | 2.0% | -2.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$107.16M totalReal Estate Operations$107.16M · 100.0%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- -Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing FRANKLIN STREET PROPERTIES CORP /MA/ against the 5 most active filers in the same SIC group.
Dividends
$0.03/share trailing 12 months · -25.0% YoY
| Ex-date | Per share |
|---|---|
| Jan 23, 2026 | $0.0100 |
| Oct 17, 2025 | $0.0100 |
| Jul 25, 2025 | $0.0100 |
| Apr 17, 2025 | $0.0100 |
| Jan 24, 2025 | $0.0100 |
| Oct 18, 2024 | $0.0100 |
| Jul 19, 2024 | $0.0100 |
| Apr 18, 2024 | $0.0100 |
| Jan 25, 2024 | $0.0100 |
| Oct 19, 2023 | $0.0100 |
| Jul 20, 2023 | $0.0100 |
| Apr 20, 2023 | $0.0100 |
| Jan 26, 2023 | $0.0100 |
| Oct 20, 2022 | $0.0100 |
| Jul 18, 2022 | $0.0100 |
| Apr 13, 2022 | $0.0900 |
| Jan 27, 2022 | $0.0900 |
| Dec 30, 2021 | $0.3200 |
| Oct 21, 2021 | $0.0900 |
| Jul 15, 2021 | $0.0900 |
| Apr 15, 2021 | $0.0900 |
| Jan 28, 2021 | $0.0900 |
| Oct 22, 2020 | $0.0900 |
| Jul 16, 2020 | $0.0900 |