Brightspire Capital Inc Financials

BRSP

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

2/9

Brightspire Capital Inc passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Mixed

-0.78x

For every $1 of reported earnings, Brightspire Capital Inc generates $-0.78 in operating cash flow ($103.4M OCF vs -$132.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

This page shows Brightspire Capital Inc (BRSP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).

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Key Financial Metrics

Revenue

$358.8M

YoY-13.6%

5Y CAGR-9.4%

Brightspire Capital Inc generated $358.8M in revenue in fiscal year 2024. This represents a decrease of 13.6% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$132.0M

YoY-748.8%

Brightspire Capital Inc reported -$132.0M in net income in fiscal year 2024. This represents a decrease of 748.8% from the prior year.

EPS (Diluted)

$-1.05

YoY-775.0%

Brightspire Capital Inc earned $-1.05 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 775.0% from the prior year.

Cash & Debt

$302.2M

YoY+17.3%

5Y CAGR+34.1%

Brightspire Capital Inc held $302.2M in cash against $2.5B in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.72

YoY-10.0%

5Y CAGR-15.3%

Brightspire Capital Inc paid $0.72 per share in dividends in fiscal year 2024. This represents a decrease of 10.0% from the prior year.

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-36.8%

YoY-33.0pp

5Y CAGR+33.6pp

Brightspire Capital Inc's net profit margin was -36.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 33.0 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

$6.6M

Brightspire Capital Inc spent $6.6M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

BRSP Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$358.8M-13.6%	$415.1M+13.8%	$364.6M+87.7%	$194.3M-33.2%	$291.0M-50.6%	$588.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	$50.0M+88.4%	$26.6M-16.9%	$31.9M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$27.0M-84.4%	$173.3M+55.0%	$111.8M+101.5%	$55.5M-12.0%	$63.0M-28.1%	$87.7M
Income Tax	$1.1M-0.2%	$1.1M-56.5%	$2.4M-61.1%	$6.3M+157.6%	-$10.9M-443.6%	$3.2M
Net Income	-$132.0M-748.8%	-$15.5M-134.0%	$45.8M+145.3%	-$101.0M+71.4%	-$353.3M+14.8%	-$414.5M
EPS (Diluted)	$-1.05-775.0%	$-0.12-135.3%	$0.34+143.0%	$-0.79+71.3%	$-2.75+15.4%	$-3.25

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$83.9M-2.3%	$85.9M+10.8%	$77.6M-7.1%	$83.5M-8.7%	$91.4M-4.5%	$95.8M-6.8%	$102.8M0.0%	$102.7M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$5.2M-23.6%	$6.8M+3.0%	$6.6M+107.3%	-$90.0M-336.5%	$38.1M-5.2%	$40.1M-6.5%	$42.9M-1.7%	$43.6M
Income Tax	-$129K+99.4%	-$21.7M-7782.3%	$282K-23.8%	$370K+90.7%	$194K-23.0%	$252K+23.5%	$204K+29.1%	$158K
Net Income	$984K+104.3%	-$23.1M-532.8%	$5.3M+127.1%	-$19.7M+70.9%	-$67.9M-18.8%	-$57.1M-249.8%	-$16.3M-231.8%	$12.4M
EPS (Diluted)	$0.00+100.0%	$-0.19-575.0%	$0.04+125.0%	$-0.16+69.8%	$-0.53-17.8%	$-0.45-275.0%	$-0.12-233.3%	$0.09

BRSP Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$3.7B-11.3%	$4.2B-11.6%	$4.8B-15.7%	$5.6B-9.2%	$6.2B-16.2%	$7.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$302.2M+17.3%	$257.5M-15.9%	$306.3M+17.9%	$259.7M-45.3%	$474.8M+582.0%	$69.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$38.7M-6.6%	$41.5M+1.9%	$40.7M-25.3%	$54.5M+45.8%	$37.4M-19.5%	$46.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.7B-8.3%	$2.9B-13.1%	$3.4B-18.9%	$4.1B-2.5%	$4.3B-18.4%	$5.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.5B-8.3%	$2.7B-14.2%	$3.2B-0.1%	$3.2B+32.3%	$2.4B-24.9%	$3.2B
Total Equity	$1.0B-17.9%	$1.3B-8.0%	$1.4B-4.6%	$1.5B-12.6%	$1.7B-21.4%	$2.1B
Retained Earnings	-$1.8B-14.2%	-$1.6B-8.2%	-$1.5B-4.0%	-$1.4B-14.3%	-$1.2B-50.6%	-$819.7M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$3.3B-3.1%	$3.4B-4.0%	$3.6B-4.6%	$3.7B-1.4%	$3.8B-4.3%	$3.9B-6.0%	$4.2B-3.5%	$4.4B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$113.4M-26.5%	$154.3M-23.2%	$200.9M-33.5%	$302.2M+48.6%	$203.3M-8.2%	$221.5M-14.0%	$257.5M+9.0%	$236.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$43.4M-5.8%	$46.1M+21.8%	$37.8M-2.4%	$38.7M-5.3%	$40.9M-0.1%	$40.9M-1.3%	$41.5M-45.8%	$76.4M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$2.3B-3.5%	$2.4B-3.9%	$2.5B-5.9%	$2.7B0.0%	$2.7B-2.8%	$2.8B-5.6%	$2.9B-3.9%	$3.0B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$2.2B-3.7%	$2.3B-3.8%	$2.3B-5.9%	$2.5B-0.4%	$2.5B-2.9%	$2.6B-5.1%	$2.7B-4.5%	$2.8B
Total Equity	$976.4M-1.8%	$994.4M-3.9%	$1.0B-1.3%	$1.0B-4.6%	$1.1B-7.6%	$1.2B-6.9%	$1.3B-2.8%	$1.3B
Retained Earnings	-$1.9B-1.1%	-$1.9B-2.4%	-$1.8B-0.9%	-$1.8B-2.8%	-$1.8B-5.6%	-$1.7B-5.2%	-$1.6B-2.7%	-$1.5B

BRSP Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$103.4M-24.9%	$137.6M+9.9%	$125.3M+689.0%	-$21.3M-122.1%	$96.4M-29.8%	$137.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$313.1M-18.5%	$384.2M+330.0%	$89.3M+116.1%	-$555.8M-155.4%	$1.0B+341.0%	-$416.0M
Financing Cash Flow	-$327.9M+41.3%	-$558.6M-246.0%	-$161.5M-142.0%	$384.4M+151.0%	-$754.1M-362.9%	$286.8M
Dividends Paid	$99.1M-4.7%	$104.0M+4.6%	$99.4M+91.4%	$51.9M+0.4%	$51.7M-76.3%	$217.7M
Share Buybacks	$6.6M	$0-100.0%	$18.3M	$0	$0	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$29.9M+71.4%	$17.4M+65.9%	$10.5M-57.5%	$24.7M+8.1%	$22.9M-7.0%	$24.6M-32.5%	$36.4M-5.3%	$38.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$19.9M+75.7%	-$81.8M-701.0%	$13.6M-82.4%	$77.4M+15.8%	$66.8M-15.8%	$79.4M-48.8%	$155.3M+400.3%	$31.0M
Financing Cash Flow	-$40.1M-261.6%	$24.8M+113.5%	-$183.4M-102.9%	-$90.4M+16.1%	-$107.8M+32.4%	-$159.4M+2.4%	-$163.4M-321.1%	-$38.8M
Dividends Paid	$20.8M-0.5%	$20.9M+0.5%	$20.7M-0.2%	$20.8M-20.7%	$26.2M+0.9%	$26.0M0.0%	$26.0M0.0%	$26.0M
Share Buybacks	$964K	N/A	N/A	$0	N/A	N/A	$0	$0

BRSP Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-36.8%-33.0pp	-3.8%-16.3pp	12.6%+64.6pp	-52.0%+69.4pp	-121.4%-51.0pp	-70.4%
Return on Equity	N/A	N/A	3.3%	N/A	N/A	N/A
Return on Assets	-3.5%-3.2pp	-0.4%-1.3pp	1.0%+2.7pp	-1.8%+3.9pp	-5.7%-0.1pp	-5.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.38+0.3	2.13-0.2	2.28+0.1	2.18+0.7	1.44-0.1	1.50
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	1.2%+28.1pp	-26.9%-33.8pp	6.9%+30.6pp	-23.7%+50.6pp	-74.2%-14.6pp	-59.6%-43.7pp	-15.9%-28.0pp	12.1%
Return on Equity	0.1%	N/A	0.5%-0.7pp	1.2%	N/A	N/A	N/A	0.9%
Return on Assets	0.0%+0.7pp	-0.7%-0.8pp	0.1%+0.7pp	-0.5%+1.3pp	-1.8%-0.3pp	-1.5%-1.1pp	-0.4%-0.7pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.22-0.0	2.270.0	2.27-0.1	2.38+0.1	2.28+0.1	2.17+0.0	2.13-0.0	2.16
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Brightspire Capital Inc's annual revenue?

Brightspire Capital Inc (BRSP) reported $358.8M in total revenue for fiscal year 2024. This represents a -13.6% 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 Brightspire Capital Inc's revenue growing?

Brightspire Capital Inc (BRSP) revenue declined by 13.6% year-over-year, from $415.1M to $358.8M in fiscal year 2024.

Is Brightspire Capital Inc profitable?

No, Brightspire Capital Inc (BRSP) reported a net income of -$132.0M in fiscal year 2024, with a net profit margin of -36.8%.

What is Brightspire Capital Inc's earnings per share (EPS)?

Brightspire Capital Inc (BRSP) reported diluted earnings per share of $-1.05 for fiscal year 2024. This represents a -775.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Brightspire Capital Inc have?

As of fiscal year 2024, Brightspire Capital Inc (BRSP) had $302.2M in cash and equivalents against $2.5B in long-term debt.

What is Brightspire Capital Inc's net profit margin?

Brightspire Capital Inc (BRSP) had a net profit margin of -36.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Brightspire Capital Inc pay dividends?

Yes, Brightspire Capital Inc (BRSP) paid $0.72 per share in dividends during fiscal year 2024.

What is Brightspire Capital Inc's operating cash flow?

Brightspire Capital Inc (BRSP) generated $103.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Brightspire Capital Inc's total assets?

Brightspire Capital Inc (BRSP) had $3.7B in total assets as of fiscal year 2024, including both current and long-term assets.

Does Brightspire Capital Inc buy back shares?

Yes, Brightspire Capital Inc (BRSP) spent $6.6M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

What is Brightspire Capital Inc's debt-to-equity ratio?

Brightspire Capital Inc (BRSP) had a debt-to-equity ratio of 2.38 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Brightspire Capital Inc's return on assets (ROA)?

Brightspire Capital Inc (BRSP) had a return on assets of -3.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Brightspire Capital Inc's Piotroski F-Score?

Brightspire Capital Inc (BRSP) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Brightspire Capital Inc's earnings high quality?

Brightspire Capital Inc (BRSP) has an earnings quality ratio of -0.78x, considered mixed quality. 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.