Brandywine Rlty Tr (BDN) reported $484.5M in revenue for fiscal year 2025, down 4.2% from the prior fiscal year. 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).
BDN’s cash-generating assets are being outweighed by noncash earnings drag and a shrinking equity cushion over time.
From FY2022 to FY2025, debt-to-equity rose from 1.2x to 3.2x. Over the same stretch, equity fell to$793M even though FY2025 operating cash flow was still$116.7M , meaning cash generation has not been strong enough to rebuild the balance-sheet cushion that recurring losses have been eroding.
The profit-and-cash split is persistent: FY2025 net loss was
Gross margin held near
Financial Health Signals
Brandywine Rlty Tr 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 Rlty Tr 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 Rlty Tr 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 Rlty Tr generated $484.5M in revenue in fiscal year 2025. This represents a decrease of 4.2% from the prior year.
Brandywine Rlty Tr's EBITDA was $203.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 12.9% from the prior year.
Brandywine Rlty Tr reported -$178.2M in net income in fiscal year 2025. This represents an increase of 9.0% from the prior year.
Brandywine Rlty Tr earned -$1.03 per diluted share (EPS) in fiscal year 2025. This represents an increase of 9.6% from the prior year.
Cash & Balance Sheet
Brandywine Rlty Tr held $32.3M in cash against $2.6B in long-term debt as of fiscal year 2025.
Brandywine Rlty Tr paid $0.53 per share in dividends in fiscal year 2025. This represents a decrease of 11.7% from the prior year.
Not reported for fiscal year 2025.
Margins & Returns
Brandywine Rlty Tr's gross margin was 61.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.2 percentage points from the prior year.
Brandywine Rlty Tr's operating margin was 5.5% in fiscal year 2025, reflecting core business profitability. This is down 5.4 percentage points from the prior year.
Brandywine Rlty Tr's net profit margin was -36.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.0 percentage points from the prior year.
Brandywine Rlty Tr's ROE was -22.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.6 percentage points from the prior year.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
BDN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $489.9M | $484.5M-4.2% | $505.5M-1.8% | $514.7M+1.7% | $506.1M+4.0% | $486.8M-9.0% | $534.9M-7.9% | $580.4M+6.6% | $544.3M+4.6% | $520.5M-0.9% | $525.5M-12.8% | $602.6M+0.9% | $597.0M+6.2% | $562.2M+5.0% | $535.7M-0.5% | $538.6M |
| Cost of Revenue | N/A | N/A | N/A | N/A | $194.4M+3.2% | $188.3M-8.3% | $205.5M-9.0% | $225.8M+3.6% | $218.1M+5.8% | $206.1M-1.6% | $209.4M-12.0% | $238.1M+0.9% | $236.0M+6.4% | $221.8M+5.2% | $210.8M-2.7% | $216.8M |
| Gross Profit | $300.3M | $299.3M-5.9% | $318.2M-2.0% | $324.7M+4.2% | $311.7M+4.4% | $298.5M-9.4% | $329.4M-7.1% | $354.6M+8.7% | $326.2M+3.8% | $314.4M-0.5% | $316.0M-13.3% | $364.5M+1.0% | $361.0M+6.0% | $340.4M+4.8% | $324.8M+0.9% | $321.8M |
| SG&A Expenses | $36.9M | $42.0M-1.8% | $42.8M+22.7% | $34.9M-0.4% | $35.0M+16.1% | $30.2M-0.4% | $30.3M-5.8% | $32.2M+15.7% | $27.8M-2.6% | $28.5M+7.3% | $26.6M-9.6% | $29.4M+9.8% | $26.8M-3.1% | $27.6M+8.7% | $25.4M+3.3% | $24.6M |
| Operating Income | $13.0M | $26.7M-51.4% | $54.9M+354.3% | -$21.6M-118.0% | $119.7M+28.3% | $93.3M-76.7% | $400.5M+248.9% | $114.8M+102.4% | $56.7M-58.1% | $135.5M-26.9% | $185.4M+447.0% | $33.9M-72.6% | $123.9M+7.0% | $115.8M+4.3% | $111.0M+17.8% | $94.2M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $81.5M+4.2% | $78.2M-4.5% | $81.9M-3.3% | $84.7M-23.5% | $110.7M-10.9% | $124.3M+2.0% | $121.9M-8.3% | $132.9M+1.2% | $131.4M |
| Income Tax | $114K | $112K+700.0% | $14K-80.6% | $72K+30.9% | $55K+17.0% | $47K+121.0% | -$224K-1966.7% | $12K-97.2% | $423K+167.4% | -$628K | $0 | $0 | N/A | N/A | N/A | N/A |
| Net Income | -$199.9M | -$178.2M+9.0% | -$195.9M+0.4% | -$196.8M-465.6% | $53.8M+338.0% | $12.3M-96.0% | $305.5M+791.6% | $34.3M-74.5% | $134.5M+11.9% | $120.2M+199.0% | $40.2M+232.2% | -$30.4M-535.9% | $7.0M-83.7% | $42.8M+548.6% | $6.6M+246.6% | -$4.5M |
| EPS (Diluted) | — | -$1.03+9.6% | -$1.14+0.9% | -$1.15-471.0% | $0.31+342.9% | $0.07-96.0% | $1.77+831.6% | $0.19-74.7% | $0.75+15.4% | $0.65+242.1% | $0.19+190.5% | -$0.21 | $0.00-100.0% | $0.23+483.3% | -$0.06+40.0% | -$0.10 |
Not reported in any period shown, so not listed: R&D Expenses.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BDN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.6B+2.7% | $3.5B-6.4% | $3.7B-3.7% | $3.9B+0.7% | $3.8B-1.4% | $3.9B-4.3% | $4.1B0.0% | $4.1B+2.0% | $4.0B-2.5% | $4.1B-10.0% | $4.6B-5.8% | $4.8B+1.5% | $4.8B+5.7% | $4.5B-1.1% | $4.6B |
| Cash & Equivalents | $32.3M-64.2% | $90.2M+54.7% | $58.3M+232.3% | $17.6M-36.1% | $27.5M-40.7% | $46.3M-48.8% | $90.5M+296.2% | $22.8M-88.7% | $202.2M+4.3% | $193.9M+242.0% | $56.7M-78.0% | $257.5M-2.2% | $263.2M+16892.1% | $1.5M+277.8% | $410K |
| Accounts Receivable | $22.2M+74.4% | $12.7M+6.1% | $12.0M+8.9% | $11.0M-7.3% | $11.9M-12.3% | $13.5M-17.3% | $16.4M-0.2% | $16.4M-8.6% | $17.9M+44.1% | $12.4M-27.3% | $17.1M-8.7% | $18.8M+7.9% | $17.4M+31.4% | $13.2M-10.1% | $14.7M |
| Total Liabilities | $2.8B+13.9% | $2.4B+1.6% | $2.4B+7.5% | $2.2B+4.5% | $2.1B+2.4% | $2.1B-12.2% | $2.4B+5.4% | $2.3B+5.4% | $2.1B-3.0% | $2.2B-14.9% | $2.6B-2.7% | $2.7B-5.9% | $2.8B+4.0% | $2.7B+2.4% | $2.7B |
| Long-Term Debt | $2.6B+15.5% | $2.2B+3.5% | $2.1B+8.8% | $2.0B | N/A | $1.8B-14.6% | $2.1B+5.7% | $2.0B+5.0% | $1.9B-4.1% | $2.0B-15.6% | $2.4B-1.8% | $2.4B-6.5% | $2.6B+5.3% | $2.5B+3.0% | $2.4B |
| Total Equity | $792.7M-23.7% | $1.0B-21.2% | $1.3B-19.0% | $1.6B-3.8% | $1.7B-5.8% | $1.8B+6.9% | $1.7B-6.7% | $1.8B-1.7% | $1.8B-2.0% | $1.9B-3.5% | $1.9B-9.7% | $2.1B+12.7% | $1.9B+8.4% | $1.8B-5.6% | $1.9B |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $499.1M-5.7% | $529.5M+1.3% | $522.5M+8.9% | $479.7M+0.5% | $477.3M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities.
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.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $120.6M | $116.7M-35.6% | $181.1M+2.2% | $177.3M-15.3% | $209.3M+9.7% | $190.9M-15.5% | $225.8M-3.6% | $234.2M+3.0% | $227.3M+24.5% | $182.6M+5.1% | $173.8M-11.8% | $197.2M+4.3% | $189.0M+3.0% | $183.5M+15.3% | $159.1M-10.2% | $177.2M |
| Investing Cash Flow | -$215.9M | -$206.3M-71.6% | -$120.2M+31.3% | -$174.9M+8.2% | -$190.6M-90.0% | -$100.3M-648.5% | $18.3M+114.0% | -$130.7M+39.1% | -$214.5M-368.8% | $79.8M-84.1% | $500.9M+400.9% | -$166.5M+38.5% | -$270.8M-358.6% | $104.7M+239.9% | -$74.9M-62.2% | -$46.2M |
| Financing Cash Flow | $130.1M | $55.7M+272.5% | -$32.3M-169.0% | $46.8M+263.4% | -$28.6M+73.8% | -$109.3M+62.1% | -$288.2M-709.2% | -$35.6M+81.6% | -$193.1M+23.9% | -$253.6M+52.8% | -$536.8M-131.9% | -$231.5M-404.3% | $76.1M+386.7% | -$26.5M+68.1% | -$83.1M+43.6% | -$147.2M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $134.1M+4.1% | $128.9M+10.8% | $116.3M+0.5% | $115.7M+1.2% | $114.3M+9.2% | $104.7M+7.6% | $97.4M+1.4% | $96.0M+7.2% | $89.6M |
| Share Buybacks | N/A | N/A | N/A | N/A | $0 | $0-100.0% | $60.0M+247.2% | $17.3M-20.9% | $21.8M | $0 | $0-100.0% | $67.3M | $0 | $0 | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
TTM is the trailing twelve months, Q2 FY2025 through Q1 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BDN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.8%-1.2pp | 62.9%-0.2pp | 63.1%+1.5pp | 61.6%+0.3pp | 61.3%-0.3pp | 61.6%+0.5pp | 61.1%+1.2pp | 59.9%-0.5pp | 60.4%+0.3pp | 60.1%-0.3pp | 60.5%0.0pp | 60.5%-0.1pp | 60.6%-0.1pp | 60.6%+0.9pp | 59.8% |
| Operating Margin | 5.5%-5.4pp | 10.9%+15.0pp | -4.2%-27.9pp | 23.7%+4.5pp | 19.2%-55.7pp | 74.9%+55.1pp | 19.8%+9.4pp | 10.4%-15.6pp | 26.0%-9.3pp | 35.3%+29.7pp | 5.6%-15.1pp | 20.8%+0.2pp | 20.6%-0.1pp | 20.7%+3.2pp | 17.5% |
| Net Margin | -36.8%+2.0pp | -38.8%-0.5pp | -38.2%-48.9pp | 10.6%+8.1pp | 2.5%-54.6pp | 57.1%+51.2pp | 5.9%-18.8pp | 24.7%+1.6pp | 23.1%+15.4pp | 7.6%+12.7pp | -5.0%-6.2pp | 1.2%-6.4pp | 7.6%+6.4pp | 1.2%+2.1pp | -0.8% |
| Return on Equity | -22.5%-3.6pp | -18.9%-3.9pp | -14.9%-18.3pp | 3.3%+2.6pp | 0.7%-16.3pp | 17.0%+15.0pp | 2.0%-5.4pp | 7.5%+0.9pp | 6.6%+4.4pp | 2.1%+3.7pp | -1.6%-1.9pp | 0.3%-1.9pp | 2.3%+1.9pp | 0.4%+0.6pp | -0.2% |
| Return on Assets | -5.0%+0.6pp | -5.6%-0.3pp | -5.3%-6.7pp | 1.4%+1.1pp | 0.3%-7.5pp | 7.8%+7.0pp | 0.8%-2.5pp | 3.3%+0.3pp | 3.0%+2.0pp | 1.0%+1.7pp | -0.7%-0.8pp | 0.1%-0.8pp | 0.9%+0.8pp | 0.1%+0.3pp | -0.1% |
| Debt-to-Equity | 3.23+1.1x | 2.13+0.5x | 1.62+0.4x | 1.21-0.1x | 1.27+0.2x | 1.02-0.3x | 1.28+0.2x | 1.13+0.1x | 1.060.0x | 1.08-0.2x | 1.23+0.1x | 1.13-0.2x | 1.370.0x | 1.41+0.1x | 1.29 |
Not reported in any period shown, so not listed: Current Ratio, FCF Margin.
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Where Brandywine Rlty Tr Ranks
Frequently Asked Questions
What is Brandywine Rlty Tr's annual revenue?
Brandywine Rlty Tr (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 Rlty Tr's revenue growing?
Brandywine Rlty Tr (BDN) revenue declined by 4.2% year-over-year, from $505.5M to $484.5M in fiscal year 2025.
Is Brandywine Rlty Tr profitable?
No, Brandywine Rlty Tr (BDN) reported a net income of -$178.2M in fiscal year 2025, with a net profit margin of -36.8%.
What is Brandywine Rlty Tr's EBITDA?
Brandywine Rlty Tr (BDN) had EBITDA of $203.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Brandywine Rlty Tr have?
As of fiscal year 2025, Brandywine Rlty Tr (BDN) had $32.3M in cash and equivalents against $2.6B in long-term debt.
What is Brandywine Rlty Tr's gross margin?
Brandywine Rlty Tr (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 Rlty Tr's operating margin?
Brandywine Rlty Tr (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 Rlty Tr's net profit margin?
Brandywine Rlty Tr (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 Rlty Tr pay dividends?
Yes, Brandywine Rlty Tr (BDN) paid $0.53 per share in dividends during fiscal year 2025.
What is Brandywine Rlty Tr's return on equity (ROE)?
Brandywine Rlty Tr (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 Rlty Tr's operating cash flow?
Brandywine Rlty Tr (BDN) generated $116.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Brandywine Rlty Tr's total assets?
Brandywine Rlty Tr (BDN) had $3.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Brandywine Rlty Tr's debt-to-equity ratio?
Brandywine Rlty Tr (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 Rlty Tr's return on assets (ROA)?
Brandywine Rlty Tr (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 Rlty Tr's Piotroski F-Score?
Brandywine Rlty Tr (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 Rlty Tr's earnings high quality?
Brandywine Rlty Tr (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.