Brandywine Realty Trust (BDN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q1 FY2026, filed May 1, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BDN SEC filings page.
Brandywine Realty Trust (BDN) reported $489.9M in revenue over the twelve months to Mar 31, 2026, down 2.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Debt has risen faster than assets while cash generation weakened, leaving this property business increasingly financed by liabilities.
By FY2025, debt-to-equity had reached 3.2x while total equity had fallen to$792.7M , making liability financing more consequential than the nearly flat revenue path. Operating cash flow fell to$116.7M from$181.1M in FY2024 while net losses persisted, so accounting results and cash generation weakened together.
Gross margin stayed near
FY2025 investing cash outflow was
Financial Health Signals
Brandywine Realty Trust does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Brandywine Realty Trust passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Brandywine Realty Trust reported a net loss of $178.2M while generating $116.7M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Brandywine Realty Trust generated $127.0M in revenue in Q1 2026. This represents an increase of 4.5% from the same quarter a year earlier. Against the prior quarter it is up 5.0%.
Brandywine Realty Trust's EBITDA was $50.7M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 14.7% from the same quarter a year earlier. Against the prior quarter it is down 30.4%.
Brandywine Realty Trust reported -$48.6M in net income in Q1 2026. This represents a decrease of 80.1% from the same quarter a year earlier. Against the prior quarter it is down 32.5%.
Brandywine Realty Trust earned -$0.28 per diluted share (EPS) in Q1 2026. This represents a decrease of 75.0% from the same quarter a year earlier. Against the prior quarter it is down 33.3%.
Cash & Balance Sheet
Brandywine Realty Trust held $36.2M in cash against $2.6B in long-term debt as of Q1 2026.
Brandywine Realty Trust paid $0.08 per share in dividends in Q1 2026. This represents a decrease of 46.7% from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q1 2026.
Margins & Returns
Brandywine Realty Trust's gross margin was 59.0% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.2 percentage points.
Brandywine Realty Trust's operating margin was 1.2% in Q1 2026, reflecting core business profitability. This is down 11.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 21.6 percentage points.
Brandywine Realty Trust's net profit margin was -38.3% in Q1 2026, showing the share of revenue converted to profit. This is down 16.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.9 percentage points.
Brandywine Realty Trust's ROE was -6.6% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 3.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.0 percentage points.
Capital Allocation
Brandywine Realty Trust spent $2.2M on share buybacks in Q1 2026, returning capital to shareholders by reducing shares outstanding.
Not reported for Q1 2026.
Not reported for Q1 2026.
BDN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $127.0M+4.5% | $121.0M-0.8% | $121.4M-7.9% | $120.6M-3.8% | $121.5M-3.9% | $121.9M-6.3% | $131.8M+1.9% | $125.3M-0.4% |
| Gross Profit | $75.0M+1.4% | $74.1M-0.6% | $76.0M-11.1% | $75.2M-4.8% | $73.9M-6.5% | $74.6M-10.7% | $85.5M+3.0% | $79.0M-1.0% |
| SG&A Expenses | $12.3M-29.4% | $7.4M-26.5% | $7.8M-38.2% | $9.3M+4.3% | $17.5M+57.3% | $10.1M+26.5% | $12.7M+57.2% | $8.9M-4.5% |
| Operating Income | $1.5M-90.0% | $27.6M+25.9% | $25.2M+366.4% | -$41.3M-312.2% | $15.2M-33.9% | $21.9M+127.8% | -$9.5M-166.3% | $19.5M+2.7% |
| EBITDA | $50.7M-14.7% | $72.9M+9.6% | $68.2M+95.7% | $2.4M-96.2% | $59.5M-12.4% | $66.6M+309.7% | $34.8M-44.9% | $63.7M-3.6% |
| Income Tax | $2K | $27K+800.0% | $0 | $85K+844.4% | $0-100.0% | $3K-91.9% | $0+100.0% | $9K-30.8% |
| Net Income | -$48.6M-80.1% | -$36.7M+17.5% | -$25.9M+84.3% | -$88.7M-393.9% | -$27.0M-64.8% | -$44.5M+71.7% | -$165.2M-666.5% | $30.2M+337.7% |
| EPS (Basic) | -$0.28-75.0% | -$0.21+19.2% | -$0.15+84.4% | -$0.51-400.0% | -$0.16-60.0% | -$0.26+71.7% | -$0.96-638.5% | $0.17+312.5% |
| EPS (Diluted) | -$0.28-75.0% | -$0.21+19.2% | -$0.15+84.4% | -$0.51-400.0% | -$0.16-60.0% | -$0.26+71.7% | -$0.96-638.5% | $0.17+312.5% |
| Diluted Shares (Avg) | 174M+0.5% | N/A | 174M+0.6% | 174M-0.7% | 173M+0.4% | N/A | 173M+0.3% | 175M+1.6% |
Not reported in any period shown, so not listed: Cost of Revenue, R&D Expenses, Interest Expense.
BDN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.6B+4.8% | $3.6B+2.7% | $3.3B-7.8% | $3.4B-9.6% | $3.4B-8.4% | $3.5B-6.4% | $3.6B-8.2% | $3.8B-5.1% |
| Cash & Equivalents | $36.2M+23.0% | $32.3M-64.2% | $75.5M+106.8% | $122.6M+303.8% | $29.4M-31.9% | $90.2M+54.7% | $36.5M-23.8% | $30.4M-5.4% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $23.4M+72.2% | $22.2M+74.4% | $15.5M+78.7% | $16.3M+49.6% | $13.6M+16.7% | $12.7M+6.1% | $8.7M-62.5% | $10.9M-6.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $2.8B+17.5% | $2.8B+13.9% | $2.5B-0.9% | $2.5B+2.2% | $2.4B-0.8% | $2.4B+1.6% | $2.5B+3.6% | $2.5B+2.4% |
| Long-Term Debt | $2.6B+18.4% | $2.6B+15.5% | $2.3B+0.3% | $2.3B+3.2% | $2.2B+1.5% | $2.2B+3.5% | $2.3B+6.0% | $2.2B+5.0% |
| Total Equity | $734.3M-26.1% | $792.7M-23.7% | $841.5M-23.4% | $879.8M-31.9% | $993.6M-22.7% | $1.0B-21.2% | $1.1B-27.1% | $1.3B-16.6% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities, Retained Earnings.
BDN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $10.2M+61.6% | $28.5M-49.9% | $47.5M-9.1% | $34.4M-28.6% | $6.3M-73.5% | $56.9M-13.6% | $52.2M+4.3% | $48.2M-13.9% |
| Depreciation & Amortization | $49.2M+11.0% | $45.3M+1.5% | $43.0M-2.9% | $43.8M-1.0% | $44.4M-1.5% | $44.6M-5.3% | $44.3M-9.5% | $44.2M-6.1% |
| Stock-Based Compensation | $5.2M-52.8% | N/A | N/A | N/A | $11.1M+152.8% | N/A | N/A | N/A |
| Investing Cash Flow | -$54.2M-21.5% | -$125.2M-271.9% | -$24.6M+36.9% | -$11.9M+88.0% | -$44.6M+19.3% | $72.8M+305.4% | -$38.9M-2350.4% | -$98.8M-6.4% |
| Financing Cash Flow | $48.0M+281.8% | $82.5M+208.1% | -$70.1M-885.3% | $69.8M+94.6% | -$26.4M-273.0% | -$76.3M-255.0% | -$7.1M+78.4% | $35.8M+208.0% |
| Share Buybacks | $2.2M | N/A | N/A | N/A | $0 | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Dividends Paid.
BDN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q | Q2'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.0%-1.8pp | 61.3%+0.1pp | 62.6%-2.3pp | 62.4%-0.7pp | 60.8%-1.7pp | 61.2%-2.9pp | 64.9%+0.7pp | 63.0%-0.4pp |
| Operating Margin | 1.2%-11.3pp | 22.8%+4.8pp | 20.8%+27.9pp | -34.3%-49.8pp | 12.5%-5.6pp | 18.0%+78.6pp | -7.2%-18.2pp | 15.5%+0.5pp |
| Net Margin | -38.3%-16.1pp | -30.3%+6.2pp | -21.3% | -73.5%-97.6pp | -22.2%-9.3pp | -36.5% | -125.4% | 24.1%+34.2pp |
| Return on Equity | -6.6%-3.9pp | -4.6%-0.3pp | -3.1%+12.0pp | -10.1%-12.4pp | -2.7%-1.4pp | -4.3%+7.7pp | -15.0%-13.6pp | 2.3%+3.1pp |
| Return on Assets | -1.4%-0.6pp | -1.0%+0.2pp | -0.8%+3.8pp | -2.6%-3.4pp | -0.8%-0.4pp | -1.3%+2.9pp | -4.6%-4.0pp | 0.8%+1.1pp |
| Debt-to-Equity | 3.57+1.3x | 3.23+1.1x | 2.70+0.6x | 2.63+0.9x | 2.23+0.5x | 2.13+0.5x | 2.06+0.6x | 1.73+0.4x |
| Asset Turnover | 0.040.0x | 0.030.0x | 0.040.0x | 0.040.0x | 0.040.0x | 0.030.0x | 0.040.0x | 0.030.0x |
Not reported in any period shown, so not listed: Current Ratio, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Brandywine Realty Trust BDN | FY2025 | $484.5M | -$178.2M | -36.8% | $471.5M | — |
| Piedmont Realty Trust, Inc. PDM | FY2025 | $565.0M | -$83.6M | -14.8% | $1.1B | 32/100 |
| Peakstone Realty Trust PKST | FY2025 | $106.0M | -$307.7M | N/A | $780.6M | 9/100 |
| JBG SMITH Properties JBGS | FY2025 | $498.6M | -$139.1M | -27.9% | $618.6M | 31/100 |
| Easterly Government Properties, Inc. DEA | FY2025 | $336.1M | $13.0M | 3.9% | $1.1B | 38/100 |
| Postal Realty Trust, Inc PSTL | FY2025 | $95.8M | $14.1M | 14.8% | $686.3M | 58/100 |
Where Brandywine Realty Trust Ranks
Frequently Asked Questions
What is Brandywine Realty Trust's annual revenue?
Brandywine Realty Trust (BDN) reported $484.5M in total revenue for fiscal year 2025. This represents a -4.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Brandywine Realty Trust's revenue growing?
Brandywine Realty Trust (BDN) revenue declined by 4.2% year-over-year, from $505.5M to $484.5M in fiscal year 2025.
Is Brandywine Realty Trust profitable?
No, Brandywine Realty Trust (BDN) reported a net income of -$178.2M in fiscal year 2025, with a net profit margin of -36.8%.
What is Brandywine Realty Trust's EBITDA?
Brandywine Realty Trust (BDN) had EBITDA of $203.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Brandywine Realty Trust have?
As of fiscal year 2025, Brandywine Realty Trust (BDN) had $32.3M in cash and equivalents against $2.6B in long-term debt.
What is Brandywine Realty Trust's gross margin?
Brandywine Realty Trust (BDN) had a gross margin of 61.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Brandywine Realty Trust's operating margin?
Brandywine Realty Trust (BDN) had an operating margin of 5.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Brandywine Realty Trust's net profit margin?
Brandywine Realty Trust (BDN) had a net profit margin of -36.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Brandywine Realty Trust pay dividends?
Yes, Brandywine Realty Trust (BDN) paid $0.53 per share in dividends during fiscal year 2025.
What is Brandywine Realty Trust's return on equity (ROE)?
Brandywine Realty Trust (BDN) has a return on equity of -22.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Brandywine Realty Trust's operating cash flow?
Brandywine Realty Trust (BDN) generated $116.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Brandywine Realty Trust's total assets?
Brandywine Realty Trust (BDN) had $3.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Brandywine Realty Trust's debt-to-equity ratio?
Brandywine Realty Trust (BDN) had a debt-to-equity ratio of 3.23 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Brandywine Realty Trust's return on assets (ROA)?
Brandywine Realty Trust (BDN) had a return on assets of -5.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Brandywine Realty Trust's P/E ratio?
Brandywine Realty Trust (BDN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to March 31, 2026). The market capitalization is $471.5M as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Brandywine Realty Trust's price-to-sales ratio?
Brandywine Realty Trust (BDN) trades at 1.0x sales, its market capitalization divided by revenue of $489.9M revenue, trailing 12 months to March 31, 2026. The market capitalization is $471.5M as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Brandywine Realty Trust's Piotroski F-Score?
Brandywine Realty Trust (BDN) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Brandywine Realty Trust's earnings high quality?
Brandywine Realty Trust (BDN) reported a net loss of $178.2M while generating $116.7M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.