NYSE : BRSP
BrightSpire Capital, Inc. — Financial statements
Real Estate · REIT - Mortgage · United States
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 126.51M | 127.65M | 102.44M | 93.40M | 90.19M | 102.63M |
| Other Revenue | 2.68M | 8.05M | 11.59M | 22.98M | 6.08M | -131.12M |
| Total Revenue | 336.20M | 330.59M | 358.81M | 415.08M | 364.62M | 191.97M |
| Property Expenses | 77.37M | 65.92M | 33.89M | 26.64M | 24.22M | 39.88M |
| Selling, General & Administrative | 23.98M | 23.70M | 23.52M | 27.21M | 22.53M | 31.90M |
| Depreciation & Amortization | 28.89M | 36.34M | 40.51M | 33.50M | 34.10M | 36.40M |
| Provision for Loan Losses | -45.73M | -24.00M | -135.80M | -108.15M | -70.64M | 1.43M |
| Other Operating Expenses | 27.04M | 24.85M | 24.64M | 27.94M | 28.58M | 17.39M |
| Total Operating Expenses | 203.01M | 174.80M | 258.34M | 223.44M | 180.06M | 124.14M |
| Operating Income | 133.19M | 155.78M | 100.46M | 191.64M | 184.56M | 67.84M |
| Interest Expense | -157.99M | -150.98M | -180.94M | -199.22M | -169.94M | -133.19M |
| Currency Exchange Gain (Loss) | -22.00M | 1.83M | 37.67M | |||
| Other Non-Operating Income | -308.00K | 18.64M | 84.00K | 613.00K | 891.00K | -28.68M |
| EBT Excluding Unusual Items | -22.70M | 1.44M | -80.39M | -6.97M | 17.33M | -56.36M |
| Gain (Loss) on Sale of Investments | 21.90M | 341.00K | ||||
| Gain (Loss) on Sale of Assets | 61.41M | 1.11M | 144.00K | 10.00M | 64.70M | |
| Asset Writedown | -23.24M | -61.62M | -54.21M | -7.59M | ||
| Other Unusual Items | -1.20M | -1.20M | 2.33M | |||
| Pretax Income | 14.27M | -60.27M | -134.46M | -14.56M | 49.23M | -98.31M |
| Income Tax Expense | 95.00K | -21.50M | 1.06M | 1.06M | 2.44M | 6.28M |
| Earnings From Continuing Operations | 14.18M | -38.77M | -135.52M | -15.62M | 46.79M | -104.58M |
| Minority Interest in Earnings | 4.92M | 7.62M | 3.54M | 70.00K | -1.00M | 3.54M |
| Net Income | 19.09M | -31.15M | -131.98M | -15.55M | 45.79M | -101.05M |
| Preferred Dividends & Other Adjustments | 2.14M | 1.86M | 1.93M | 1.60M | ||
| Net Income to Common | 16.95M | -33.01M | -133.91M | -15.55M | 44.18M | -101.05M |
| Basic Shares Outstanding | 125.30M | 126.88M | 127.44M | 127.06M | 127.30M | 128.50M |
| Diluted Shares Outstanding | 126.03M | 126.88M | 127.44M | 127.06M | 129.30M | 128.50M |
| EPS (Basic) | 0.14 | -0.26 | -1.05 | -0.12 | 0.35 | -0.79 |
| EPS (Diluted) | 0.13 | -0.26 | -1.05 | -0.12 | 0.34 | -0.79 |
| Dividend Per Share | 0.64 | 0.64 | 0.72 | 0.80 | 0.79 | 0.58 |
| Operating Margin | 39.62% | 47.12% | 28.00% | 46.17% | 50.62% | 35.34% |
| Profit Margin | 5.04% | -9.98% | -37.32% | -3.75% | 12.12% | -52.64% |
| EBITDA | 161.01M | 190.26M | 138.39M | 222.27M | 215.28M | 101.03M |
| EBITDA Margin | 47.89% | 57.55% | 38.57% | 53.55% | 59.04% | 52.63% |
| D&A For Ebitda | 27.82M | 34.48M | 37.93M | 30.63M | 30.73M | 33.20M |
| EBIT | 133.19M | 155.78M | 100.46M | 191.64M | 184.56M | 67.84M |
| EBIT Margin | 39.62% | 47.12% | 28.00% | 46.17% | 50.62% | 35.34% |
| Effective Tax Rate | 0.67% | 4.96% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 424.74M | 699.61M | 800.66M | 830.08M | 757.71M | 808.18M |
| Cash & Equivalents | 63.60M | 66.79M | 302.17M | 257.51M | 306.32M | 259.72M |
| Accounts Receivable | 39.49M | 45.59M | 38.73M | 41.45M | 40.70M | 54.50M |
| Other Receivables | 1.89M | 12.25M | 16.30M | 16.63M | 19.12M | 26.19M |
| Investment In Debt and Equity Securities | 22.50M | |||||
| Other Intangible Assets | 250.00K | 19.98M | 35.33M | 46.54M | 41.18M | 49.82M |
| Loans Receivable Current | 2.98B | 2.59B | 2.35B | 2.86B | 3.45B | 3.45B |
| Restricted Cash | 114.00M | 107.05M | 148.52M | 104.58M | 92.51M | 86.84M |
| Other Current Assets | 37.16M | 7.15M | 11.55M | 22.49M | 3.65M | 50.79M |
| Deferred Long-Term Charges | 9.01M | 13.38M | 14.99M | 16.24M | 17.43M | 17.27M |
| Other Long-Term Assets | 1.42M | 2.12M | 2.23M | 2.25M | 3.04M | 22.73M |
| Total Assets | 3.67B | 3.56B | 3.72B | 4.20B | 4.75B | 5.64B |
| Current Portion of Long-Term Debt | 52.54M | 53.47M | 424.00K | 11.81M | ||
| Current Portion of Leases | 4.51M | |||||
| Long-Term Debt | 2.58B | 2.42B | 2.49B | 2.72B | 3.16B | 3.93B |
| Long-Term Leases | 12.12M | 16.19M | 24.12M | 22.93M | 25.96M | 25.20M |
| Accounts Payable | 29.24M | 25.57M | 17.83M | 17.57M | 15.09M | 20.17M |
| Accrued Expenses | 5.46M | 6.24M | 10.05M | 11.32M | 11.68M | 11.08M |
| Current Income Taxes Payable | 21.15M | 24.20M | 26.20M | 34.61M | ||
| Other Current Liabilities | 21.81M | 20.63M | 20.79M | 25.98M | 25.78M | 23.91M |
| Long-Term Unearned Revenue | 5.95M | 9.66M | 7.85M | 7.22M | 7.69M | 7.67M |
| Other Long-Term Liabilities | 89.63M | 84.38M | 84.57M | 95.00M | 84.91M | 80.64M |
| Total Liabilities | 2.80B | 2.64B | 2.68B | 2.92B | 3.36B | 4.15B |
| Common Stock | 1.25M | 1.29M | 1.30M | 1.30M | 1.29M | 1.30M |
| Additional Paid-In Capital | 2.84B | 2.86B | 2.87B | 2.86B | 2.85B | 2.86B |
| Retained Earnings | -1.96B | -1.93B | -1.81B | -1.59B | -1.47B | -1.41B |
| Comprehensive Income & Other | -6.34M | -2.56M | -676.00K | 8.79M | ||
| Total Common Equity | 883.09M | 938.43M | 1.05B | 1.28B | 1.39B | 1.46B |
| Minority Interest | -13.30M | -10.03M | -2.41M | 1.13M | 1.26M | 36.03M |
| Shareholders' Equity | 869.79M | 928.40M | 1.05B | 1.28B | 1.39B | 1.49B |
| Total Liabilities & Equity | 3.67B | 3.56B | 3.72B | 4.20B | 4.75B | 5.64B |
| Total Debt | 2.65B | 2.49B | 2.52B | 2.74B | 3.19B | 3.97B |
| Net Cash (Debt) | -2.58B | -2.42B | -2.21B | -2.48B | -2.88B | -3.71B |
| Net Cash Per Share | -20.49 | -19.10 | -17.37 | -19.53 | -22.30 | -28.87 |
| Filing Date Shares Outstanding | 124.68M | 128.63M | 129.69M | 129.99M | 128.87M | 129.77M |
| Total Common Shares Outstanding | 124.68M | 128.63M | 129.69M | 129.99M | 128.87M | 129.77M |
| Book Value Per Share | 7.08 | 7.30 | 8.08 | 9.83 | 10.77 | 11.21 |
| Tangible Book Value | 882.84M | 918.45M | 1.01B | 1.23B | 1.35B | 1.41B |
| Tangible Book Value Per Share | 7.08 | 7.14 | 7.81 | 9.47 | 10.45 | 10.83 |
| Land | 128.97M | 206.42M | 199.10M | 195.44M | 158.19M | 164.03M |
| Buildings | 319.61M | 550.22M | 745.77M | 715.85M | 657.48M | 683.00M |
| Construction In Progress | 5.28M | 7.97M | 2.39M | 3.14M | 3.01M | 1.12M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 19.09M | -31.15M | -131.98M | -15.55M | 45.79M | -101.05M |
| Depreciation & Amortization | 27.82M | 34.48M | 38.05M | 30.74M | 31.23M | 33.30M |
| Other Amortization | 11.17M | 10.39M | 10.91M | 13.44M | 13.75M | 15.42M |
| Gain (Loss) on Sale of Assets | -62.17M | -1.11M | -144.00K | 1.44M | -6.19M | 23.07M |
| Gain (Loss) on Sale of Investments | 7.60M | 2.84M | -6.93M | -10.98M | -35.79M | -32.50M |
| Asset Writedown | 23.24M | 61.62M | 53.80M | 7.59M | ||
| Stock-Based Compensation | 12.86M | 12.84M | 11.65M | 14.06M | 7.89M | 14.02M |
| Income (Loss) on Equity Investments | 602.00K | -25.00K | 131.12M | |||
| Change in Accounts Receivable | -13.68M | -5.52M | 4.53M | 1.51M | -3.07M | -1.20M |
| Change in Other Net Operating Assets | 8.64M | -4.59M | -3.83M | -2.96M | 341.00K | -18.69M |
| Other Operating Activities | -8.69M | -30.77M | -8.44M | -9.80M | 1.35M | -41.42M |
| Operating Cash Flow | 72.21M | 73.03M | 103.41M | 137.62M | 125.28M | -21.27M |
| Acquisition of Real Estate Assets | -11.15M | -17.94M | -6.09M | -7.06M | -3.96M | -9.92M |
| Sale of Real Estate Assets | 189.90M | 80.81M | 19.61M | 55.60M | 332.00M | |
| Net Sale / Acq. of Real Estate Assets | 178.75M | 62.87M | 13.51M | -7.06M | 51.63M | 322.08M |
| Investment in Marketable & Equity Securities | 784.00K | 39.47M | 244.52M | |||
| Other Investing Activities | 12.34M | 2.38M | -8.47M | 9.55M | 5.71M | 42.72M |
| Investing Cash Flow | -643.36M | -419.93M | 313.08M | 384.16M | 89.34M | -555.79M |
| Long-Term Debt Issued | 614.97M | 880.21M | 167.61M | 771.48M | 2.00B | |
| Long-Term Debt Repaid | -439.67M | -1.08B | -613.28M | -778.35M | -1.30B | |
| Net Debt Issued (Repaid) | 664.32M | 175.30M | -204.70M | -445.67M | -6.87M | 701.64M |
| Issuance of Common Stock | 16.00K | |||||
| Repurchase of Common Stock | -40.44M | -14.81M | -11.19M | -2.88M | -44.96M | -2.61M |
| Common Dividends Paid | -83.61M | -83.00M | -99.06M | -103.95M | -99.39M | -51.92M |
| Other Financing Activities | -14.39M | -8.56M | -13.01M | -6.09M | -10.23M | -262.75M |
| Foreign Exchange Rate Adjustments | 1.30M | 1.12M | 69.00K | 77.00K | -898.00K | -764.00K |
| Net Cash Flow | -43.97M | -276.86M | 88.61M | -36.74M | 52.27M | -193.47M |
| Levered Free Cash Flow | -720.86M | -151.53M | 478.59M | 610.41M | 116.08M | -1.01B |
| Unlevered Free Cash Flow | -631.89M | -65.37M | 583.63M | 724.23M | 211.55M | -939.14M |
| Cash Interest Paid | 147.89M | 145.92M | 173.96M | 190.05M | 126.15M | 76.26M |
| Cash Income Tax Paid | -1.87M | 2.04M | 268.00K | 595.00K | 4.83M | |
| Change in Working Capital | -5.03M | -10.11M | 701.00K | -1.45M | -2.73M | -19.89M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 445.10M | 726.50M | 731.42M | 967.09M | 803.45M | 1.33B |
| Enterprise Value | 3.03B | 2.80B | 3.06B | 3.60B | 4.71B | 5.02B |
| Last Close Price | 3.42 | 5.07 | 4.54 | 5.31 | 3.94 | 5.83 |
| PE Ratio | 27.62 | 18.18 | ||||
| PS Ratio | 1.32 | 2.20 | 2.04 | 2.33 | 2.20 | 6.93 |
| PB Ratio | 0.48 | 0.78 | 0.70 | 0.76 | 0.58 | 0.89 |
| P/OCF Ratio | 6.16 | 9.95 | 7.07 | 7.03 | 6.41 | |
| EV/Sales Ratio | 9.00 | 8.46 | 8.53 | 8.67 | 12.93 | 26.15 |
| EV/EBITDA Ratio | 18.80 | 14.70 | 22.13 | 16.20 | 21.89 | 49.68 |
| EV/EBIT Ratio | 22.73 | 17.95 | 30.48 | 18.79 | 25.54 | 74.00 |
| Debt / Equity Ratio | 3.04 | 2.68 | 2.40 | 2.14 | 2.30 | 2.66 |
| Debt / EBITDA Ratio | 16.01 | 12.78 | 17.61 | 12.08 | 14.53 | 38.13 |
| Net Debt / Equity Ratio | 2.97 | 2.61 | 2.12 | 1.94 | 2.08 | 2.49 |
| Net Debt / EBITDA Ratio | 16.04 | 12.74 | 15.99 | 11.16 | 13.39 | 36.71 |
| Asset Turnover | 0.10 | 0.09 | 0.09 | 0.09 | 0.07 | 0.03 |
| Quick Ratio | 0.96 | 1.13 | 5.12 | 3.99 | 4.62 | 3.35 |
| Current Ratio | 29.64 | 25.63 | 41.11 | 41.77 | 49.37 | 38.66 |
| Return on Equity (ROE) | 1.54% | -3.93% | -11.66% | -1.17% | 3.25% | -6.06% |
| Return on Assets (ROA) | 2.39% | 2.67% | 1.58% | 2.68% | 2.22% | 0.72% |
| Return on Invested Capital (ROIC) | 3.82% | 4.46% | 2.65% | 4.46% | 3.49% | 1.18% |
| Earnings Yield | 3.62% | -4.29% | -18.04% | -1.61% | 5.70% | -7.59% |
| Dividend Yield | 17.93% | 11.33% | 12.77% | 10.75% | 12.67% | 5.65% |
| Payout Ratio | 495.13% | 217.07% | ||||
| Buyback Yield / Dilution | 0.80% | 0.44% | -0.30% | 1.73% | -0.63% | 0.04% |
| Total Shareholder Return | 18.68% | 11.77% | 12.47% | 12.48% | 12.04% | 5.69% |