NYSEAMERICAN : FSP
Franklin Street Properties Corp. — Financial statements
Real Estate · REIT - Office · United States
Last price 0.351 USD (Oct 30, 2026, 7:14 AM EDT) · Market cap 36.51M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 103.55M | 107.16M | 120.08M | 145.45M | 163.74M | 207.58M |
| Property Management Fees | 1.85M | 1.70M | ||||
| Other Revenue | 32.00K | 261.00K | 21.00K | 77.00K | ||
| Total Revenue | 103.55M | 107.16M | 120.11M | 145.71M | 165.62M | 209.36M |
| Property Expenses | 55.78M | 60.25M | 67.76M | 77.93M | 87.44M | 101.94M |
| Selling, General & Administrative | 9.86M | 12.43M | 13.88M | 14.02M | 13.88M | 15.90M |
| Depreciation & Amortization | 42.12M | 42.61M | 44.77M | 54.74M | 63.81M | 78.54M |
| Total Operating Expenses | 107.76M | 115.29M | 126.42M | 146.69M | 165.13M | 196.38M |
| Operating Income | -4.21M | -8.12M | -6.30M | -984.00K | 482.00K | 12.97M |
| Interest Expense | -28.96M | -24.72M | -26.42M | -24.32M | -22.81M | -32.27M |
| Interest & Investment Income | 794.00K | 986.00K | 2.09M | 567.00K | ||
| Income (Loss) on Equity Investments | 421.00K | |||||
| EBT Excluding Unusual Items | -32.37M | -31.86M | -30.64M | -24.73M | -22.33M | -18.88M |
| Gain (Loss) on Sale of Assets | -7.69M | -12.90M | -20.83M | -23.38M | 27.94M | 113.13M |
| Asset Writedown | -4.24M | |||||
| Other Unusual Items | -2.28M | -12.00K | -1.04M | 288.00K | -78.00K | -901.00K |
| Pretax Income | -42.34M | -44.77M | -52.51M | -47.83M | 1.30M | 93.36M |
| Income Tax Expense | 213.00K | 189.00K | 216.00K | 279.00K | 204.00K | 638.00K |
| Net Income | -42.56M | -44.96M | -52.72M | -48.11M | 1.09M | 92.72M |
| Net Income to Common | -42.56M | -44.96M | -52.72M | -48.11M | 1.09M | 92.72M |
| Basic Shares Outstanding | 103.80M | 103.64M | 103.51M | 103.36M | 103.34M | 106.67M |
| Diluted Shares Outstanding | 103.80M | 103.64M | 103.51M | 103.36M | 103.34M | 106.67M |
| EPS (Basic) | -0.41 | -0.43 | -0.51 | -0.47 | 0.01 | 0.87 |
| EPS (Diluted) | -0.41 | -0.43 | -0.51 | -0.47 | 0.01 | 0.87 |
| Dividend Per Share | 0.01 | 0.04 | 0.04 | 0.04 | 0.12 | 0.36 |
| Operating Margin | -4.06% | -7.58% | -5.25% | -0.68% | 0.29% | 6.20% |
| Profit Margin | -41.10% | -41.95% | -43.90% | -33.02% | 0.66% | 44.29% |
| EBITDA | 38.51M | 32.70M | 36.92M | 50.31M | 58.96M | 83.28M |
| EBITDA Margin | 37.18% | 30.52% | 30.74% | 34.53% | 35.60% | 39.78% |
| D&A For Ebitda | 42.71M | 40.83M | 43.23M | 51.30M | 58.48M | 70.31M |
| EBIT | -4.21M | -8.12M | -6.30M | -984.00K | 482.00K | 12.97M |
| EBIT Margin | -4.06% | -7.58% | -5.25% | -0.68% | 0.29% | 6.20% |
| Funds From Operations (FFO) | 7.59M | 11.01M | 13.29M | 29.96M | 41.08M | 58.09M |
| Adjusted Funds From Operations (AFFO) | 11.01M | 13.29M | 29.96M | 41.08M | 58.09M | |
| FFO Payout Ratio | 27.31% | 37.66% | 31.16% | 13.79% | 131.42% | 66.26% |
| Effective Tax Rate | 15.72% | 0.68% | ||||
| Revenue as Reported | 103.55M | 107.16M | 120.11M | 145.71M | 165.62M | 209.36M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 754.40M | 794.16M | 835.68M | 891.25M | 1.10B | 1.19B |
| Cash & Equivalents | 34.25M | 30.57M | 41.12M | 125.53M | 3.74M | 34.31M |
| Accounts Receivable | 37.82M | 39.22M | 39.01M | 42.59M | 54.94M | 50.98M |
| Other Receivables | 2.30M | 500.00K | ||||
| Investment In Debt and Equity Securities | 4.36M | |||||
| Other Intangible Assets | 1.26M | 2.49M | 4.21M | 6.69M | 10.19M | 14.93M |
| Restricted Cash | 600.00K | 1.56M | 2.89M | |||
| Other Current Assets | 75.67M | 6.44M | ||||
| Deferred Long-Term Charges | 21.02M | 22.67M | 22.94M | 23.66M | 35.71M | 38.31M |
| Other Long-Term Assets | 4.10M | 3.78M | 2.41M | 3.94M | 4.38M | 3.53M |
| Total Assets | 853.45M | 892.88M | 946.93M | 1.17B | 1.24B | 1.36B |
| Current Portion of Leases | 316.00K | |||||
| Long-Term Debt | 247.30M | 248.24M | 246.92M | 404.38M | 412.26M | 478.87M |
| Long-Term Leases | 842.00K | 707.00K | 334.00K | 759.00K | 1.16M | |
| Accounts Payable | 28.10M | 28.72M | 34.07M | 41.88M | 50.37M | 89.49M |
| Accrued Expenses | 247.00K | 2.39M | 3.10M | 3.64M | 3.64M | 4.70M |
| Other Current Liabilities | 8.00K | |||||
| Other Long-Term Liabilities | 6.08M | 6.22M | 6.28M | 6.29M | 5.91M | 6.75M |
| Total Liabilities | 282.57M | 285.91M | 291.07M | 456.52M | 472.93M | 580.97M |
| Common Stock | 10.00K | 10.00K | 10.00K | 10.00K | 10.00K | 10.00K |
| Additional Paid-In Capital | 1.34B | 1.34B | 1.34B | 1.34B | 1.33B | 1.34B |
| Distributions in Excess of Earnings | -764.89M | -728.62M | -679.51M | -622.65M | -570.41M | -550.79M |
| Comprehensive Income & Other | 355.00K | 4.36M | -5.24M | |||
| Shareholders' Equity | 570.88M | 606.98M | 655.86M | 712.80M | 768.74M | 783.20M |
| Total Liabilities & Equity | 853.45M | 892.88M | 946.93M | 1.17B | 1.24B | 1.36B |
| Total Debt | 248.14M | 248.56M | 247.63M | 404.71M | 413.01M | 480.03M |
| Net Cash (Debt) | -213.89M | -217.99M | -206.51M | -279.18M | -409.28M | -445.72M |
| Net Cash Per Share | -2.06 | -2.10 | -2.00 | -2.70 | -3.96 | -4.18 |
| Filing Date Shares Outstanding | 104.01M | 103.69M | 103.57M | 103.43M | 103.24M | 104.00M |
| Total Common Shares Outstanding | 104.01M | 103.69M | 103.57M | 103.43M | 103.24M | 104.00M |
| Book Value Per Share | 5.49 | 5.85 | 6.33 | 6.89 | 7.45 | 7.53 |
| Tangible Book Value | 569.62M | 604.49M | 651.65M | 706.11M | 758.55M | 768.27M |
| Tangible Book Value Per Share | 5.48 | 5.83 | 6.29 | 6.83 | 7.35 | 7.39 |
| Land | 95.78M | 98.88M | 105.30M | 110.30M | 126.64M | 146.84M |
| Buildings | 1.06B | 1.09B | 1.10B | 1.13B | 1.39B | 1.46B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -42.56M | -44.96M | -52.72M | -48.11M | 1.09M | 92.72M |
| Depreciation & Amortization | 42.71M | 40.83M | 43.23M | 51.30M | 58.48M | 70.31M |
| Other Amortization | 4.50M | 4.50M | 4.50M | 5.90M | 7.10M | 10.70M |
| Gain (Loss) on Sale of Assets | 7.69M | 12.90M | 20.83M | 23.38M | -27.94M | -113.13M |
| Asset Writedown | 4.24M | |||||
| Stock-Based Compensation | 180.00K | 225.00K | 270.00K | 315.00K | 394.00K | 338.00K |
| Change in Accounts Receivable | 2.11M | 959.00K | 2.88M | 635.00K | -6.14M | 1.77M |
| Change in Accounts Payable | -2.33M | -3.98M | -3.71M | -2.71M | -5.98M | -11.10M |
| Change in Other Net Operating Assets | -2.53M | -2.51M | -825.00K | -1.13M | -7.87M | -3.94M |
| Other Operating Activities | -1.22M | -4.21M | -5.46M | -11.71M | -8.14M | -11.30M |
| Operating Cash Flow | 8.55M | 3.75M | 8.99M | 17.87M | 15.23M | 36.36M |
| Acquisition of Real Estate Assets | -13.56M | -16.41M | -25.21M | -31.64M | -54.91M | -64.83M |
| Sale of Real Estate Assets | 18.00M | 6.11M | 95.50M | 142.22M | 128.95M | 573.31M |
| Net Sale / Acq. of Real Estate Assets | 4.44M | -10.31M | 70.28M | 110.59M | 74.04M | 508.47M |
| Cash Acquisition | 3.05M | -3.00M | ||||
| Investing Cash Flow | 4.44M | -10.31M | 70.28M | 113.64M | 74.04M | 505.47M |
| Long-Term Debt Issued | 77.00M | 90.00M | 91.50M | |||
| Long-Term Debt Repaid | -1.41M | -154.67M | -85.00M | -152.00M | -540.00M | |
| Net Debt Issued (Repaid) | 1.44M | -1.41M | -154.67M | -8.00M | -62.00M | -448.50M |
| Repurchase of Common Stock | -4.84M | -18.24M | ||||
| Common Dividends Paid | -2.07M | -4.14M | -4.14M | -4.13M | -53.99M | -38.49M |
| Other Financing Activities | -9.08M | -5.66M | 1.88M | -2.56M | ||
| Net Cash Flow | 3.28M | -12.11M | -85.20M | 121.25M | -34.12M | 36.60M |
| Levered Free Cash Flow | 25.55M | 20.35M | 96.86M | -24.91M | 9.62M | 112.28M |
| Unlevered Free Cash Flow | 43.65M | 35.80M | 113.38M | -9.71M | 23.88M | 132.45M |
| Cash Interest Paid | 26.95M | 21.94M | 24.07M | 25.74M | 21.09M | 30.14M |
| Cash Income Tax Paid | 141.00K | 235.00K | 385.00K | 339.00K | 667.00K | 454.00K |
| Change in Working Capital | -2.75M | -5.53M | -1.66M | -3.21M | -19.99M | -13.27M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 41.73M | 98.07M | 189.53M | 264.78M | 281.83M | 628.51M |
| Enterprise Value | 255.62M | 314.63M | 422.58M | 646.42M | 701.22M | 1.31B |
| Last Close Price | 0.40 | 0.94 | 1.76 | 2.42 | 2.52 | 5.28 |
| PE Ratio | 257.62 | 6.78 | ||||
| PS Ratio | 0.40 | 0.92 | 1.58 | 1.82 | 1.70 | 3.00 |
| PB Ratio | 0.07 | 0.16 | 0.29 | 0.37 | 0.37 | 0.80 |
| P/OCF Ratio | 4.88 | 26.13 | 21.09 | 14.82 | 18.50 | 17.29 |
| EV/Sales Ratio | 2.47 | 2.94 | 3.52 | 4.44 | 4.23 | 6.24 |
| EV/EBITDA Ratio | 6.64 | 9.62 | 11.45 | 12.85 | 11.89 | 15.67 |
| EV/EBIT Ratio | 1,454.81 | 100.61 | ||||
| Debt / Equity Ratio | 0.43 | 0.41 | 0.38 | 0.57 | 0.54 | 0.61 |
| Debt / EBITDA Ratio | 6.37 | 7.50 | 6.63 | 7.98 | 6.96 | 5.74 |
| Net Debt / Equity Ratio | 0.38 | 0.36 | 0.32 | 0.39 | 0.53 | 0.57 |
| Net Debt / EBITDA Ratio | 5.55 | 6.67 | 5.59 | 5.55 | 6.94 | 5.35 |
| Asset Turnover | 0.12 | 0.12 | 0.11 | 0.12 | 0.13 | 0.13 |
| Quick Ratio | 2.54 | 2.22 | 2.16 | 3.69 | 1.13 | 0.91 |
| Current Ratio | 2.56 | 2.22 | 2.20 | 5.36 | 1.18 | 0.98 |
| Return on Equity (ROE) | -7.17% | -7.12% | -7.70% | -6.49% | 0.14% | 11.95% |
| Return on Assets (ROA) | -0.30% | -0.55% | -0.37% | -0.05% | 0.02% | 0.51% |
| Return on Invested Capital (ROIC) | -0.51% | -0.92% | -0.62% | -0.09% | 0.03% | 0.87% |
| Earnings Yield | -102.19% | -45.84% | -27.82% | -18.17% | 0.39% | 14.75% |
| Dividend Yield | 2.49% | 4.23% | 2.19% | 1.56% | 4.40% | 5.96% |
| Payout Ratio | 4,934.92% | 41.52% | ||||
| Buyback Yield / Dilution | -0.19% | -0.13% | -0.15% | -0.02% | 3.12% | 0.59% |
| Total Shareholder Return | 2.31% | 4.10% | 2.04% | 1.54% | 7.52% | 6.55% |