Franklin Bsp Rlty Tr Inc Financials

FBRT

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

Financial Health Signals

Piotroski F-Score Weak

2/9

Franklin Bsp Rlty Tr 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

0.60x

For every $1 of reported earnings, Franklin Bsp Rlty Tr Inc generates $0.60 in operating cash flow ($57.2M OCF vs $95.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

This page shows Franklin Bsp Rlty Tr Inc (FBRT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 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

$210.5M

YoY-20.3%

5Y CAGR+14.3%

10Y CAGR+31.8%

Franklin Bsp Rlty Tr Inc generated $210.5M in revenue in fiscal year 2024. This represents a decrease of 20.3% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

$95.9M

YoY-34.0%

5Y CAGR+2.7%

10Y CAGR+33.3%

Franklin Bsp Rlty Tr Inc reported $95.9M in net income in fiscal year 2024. This represents a decrease of 34.0% from the prior year.

EPS (Diluted)

$0.82

YoY-42.3%

5Y CAGR-12.5%

10Y CAGR+0.9%

Franklin Bsp Rlty Tr Inc earned $0.82 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 42.3% from the prior year.

Cash & Debt

$184.4M

YoY-45.4%

5Y CAGR+16.2%

10Y CAGR+85.3%

Franklin Bsp Rlty Tr Inc held $184.4M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

$1.42

YoY+0.0%

5Y CAGR-0.3%

10Y CAGR-3.7%

Franklin Bsp Rlty Tr Inc paid $1.42 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

83M

YoY+1.1%

5Y CAGR+13.6%

10Y CAGR+18.3%

Franklin Bsp Rlty Tr Inc had 83M shares outstanding in fiscal year 2024. This represents an increase of 1.1% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

45.6%

YoY-9.5pp

5Y CAGR-32.1pp

10Y CAGR+4.7pp

Franklin Bsp Rlty Tr Inc's net profit margin was 45.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 9.5 percentage points from the prior year.

Return on Equity

6.3%

YoY-3.0pp

5Y CAGR-3.9pp

10Y CAGR+4.7pp

Franklin Bsp Rlty Tr Inc's ROE was 6.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 3.0 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

$4.9M

YoY-61.1%

5Y CAGR-18.8%

10Y CAGR+26.5%

Franklin Bsp Rlty Tr Inc spent $4.9M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 61.1% from the prior year.

Capital Expenditures

N/A

FBRT Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$210.5M-20.3%	$263.9M+27.6%	$206.8M+25.0%	$165.5M+40.7%	$117.6M+8.9%	$108.0M
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	$2.9M-80.2%	$14.4M+11.7%	$12.9M+68.8%	$7.7M-41.6%	$13.1M-19.8%	$16.4M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$187.6M-38.6%	$305.6M+90.4%	$160.5M+185.7%	$56.2M-15.6%	$66.6M-26.4%	$90.4M
Income Tax	$1.1M+140.6%	-$2.8M-591.0%	-$399K-111.1%	$3.6M+274.5%	-$2.1M-146.0%	$4.5M
Net Income	$95.9M-34.0%	$145.2M+906.3%	$14.4M-43.9%	$25.7M-53.1%	$54.7M-34.8%	$83.9M
EPS (Diluted)	$0.82-42.3%	$1.42+473.7%	$-0.38-111.1%	$-0.18-120.0%	$0.90-43.8%	$1.60

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$89.5M+81.7%	$49.3M-1.6%	$50.1M-2.9%	$51.6M+1.4%	$50.9M-5.7%	$54.0M-1.5%	$54.8M-12.2%	$62.4M
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	$3.5M-11.0%	$3.9M+16.0%	$3.3M+174.3%	-$4.5M-739.9%	$704K-75.4%	$2.9M-17.0%	$3.4M-3.3%	$3.6M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$29.7M-27.5%	$41.0M-5.4%	$43.3M+275.3%	-$24.7M-128.5%	$86.7M+6.7%	$81.3M+0.1%	$81.2M+4.2%	$78.0M
Income Tax	-$2.9M-2000.7%	-$138K-121.1%	$654K+238.9%	$193K+265.0%	-$117K-114.0%	$835K+339.3%	-$349K+80.6%	-$1.8M
Net Income	$17.3M-25.4%	$23.2M-3.6%	$24.1M-21.2%	$30.5M+1503.2%	-$2.2M-106.1%	$35.9M+19.7%	$30.0M-5.5%	$31.8M
EPS (Diluted)	$0.12-36.8%	$0.19-5.0%	$0.20-28.6%	$0.28+354.5%	$-0.11-131.4%	$0.35+20.7%	$0.29-3.3%	$0.30

FBRT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$6.0B+0.8%	$6.0B-4.0%	$6.2B-34.5%	$9.5B+197.0%	$3.2B-9.9%	$3.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$184.4M-45.4%	$337.6M+88.3%	$179.3M+15.7%	$154.9M+88.8%	$82.1M-5.9%	$87.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$0	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.4B+2.6%	$4.3B-5.5%	$4.5B-40.9%	$7.7B+251.3%	$2.2B-13.2%	$2.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.5B-3.0%	$1.6B-0.2%	$1.6B-8.4%	$1.7B+113.6%	$798.4M-2.2%	$816.8M
Retained Earnings	-$348.1M-16.4%	-$298.9M+0.1%	-$299.2M-79.0%	-$167.2M-57.0%	-$106.5M-23.8%	-$86.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$6.2B+10.4%	$5.6B-0.4%	$5.7B-5.8%	$6.0B-4.3%	$6.3B+4.0%	$6.0B+1.2%	$6.0B+1.4%	$5.9B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$116.7M-71.8%	$414.1M+92.3%	$215.4M+16.8%	$184.4M+94.6%	$94.8M-60.5%	$240.0M-28.9%	$337.6M-17.9%	$411.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$90.8M	N/A	N/A	$0	N/A	N/A	N/A	N/A
Total Liabilities	$4.6B+12.8%	$4.0B-0.3%	$4.1B-7.6%	$4.4B-5.2%	$4.6B+6.5%	$4.4B+1.7%	$4.3B+2.1%	$4.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.5B-1.1%	$1.5B-0.7%	$1.5B-0.9%	$1.5B-0.4%	$1.5B-2.5%	$1.6B0.0%	$1.6B-0.5%	$1.6B
Retained Earnings	-$392.8M-5.1%	-$373.7M-3.7%	-$360.5M-3.6%	-$348.1M-3.1%	-$337.7M-12.8%	-$299.3M-0.1%	-$298.9M-2.1%	-$292.8M

FBRT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$57.2M-71.0%	$197.4M+29.4%	$152.5M+4.1%	$146.5M+27.0%	$115.3M+154.2%	$45.4M
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	-$155.5M-140.8%	$380.8M-87.7%	$3.1B+189.8%	$1.1B+344.0%	$240.7M+124.8%	-$969.2M
Financing Cash Flow	-$48.6M+88.6%	-$425.0M+86.8%	-$3.2B-183.3%	-$1.1B-205.4%	-$373.0M-145.0%	$828.6M
Dividends Paid	$144.9M+0.4%	$144.3M+3.5%	$139.4M+105.2%	$68.0M+36.5%	$49.8M-17.9%	$60.6M
Share Buybacks	$4.9M-61.1%	$12.5M-24.6%	$16.6M+45.2%	$11.4M+11.3%	$10.3M-25.7%	$13.8M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$148.1M-1353.3%	$11.8M-89.8%	$116.2M+311.0%	-$55.1M-2978.2%	$1.9M-85.2%	$13.0M-76.8%	$55.9M-11.3%	$63.1M
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	-$52.1M-121.8%	$238.9M-16.8%	$286.9M+8.3%	$265.0M+168.0%	-$389.9M-179.8%	-$139.3M+19.9%	-$174.0M-163.4%	$274.3M
Financing Cash Flow	-$78.7M-51.3%	-$52.0M+86.2%	-$375.9M-2.5%	-$366.9M-249.4%	$245.6M+697.5%	$30.8M-29.5%	$43.7M+128.8%	-$151.4M
Dividends Paid	$36.4M0.0%	$36.5M+0.6%	$36.2M0.0%	$36.2M0.0%	$36.2M+0.3%	$36.1M-0.2%	$36.2M0.0%	$36.2M
Share Buybacks	$0	$0	$0	$0-100.0%	$3.0M+59.3%	$1.9M-43.9%	$3.3M	$0

FBRT 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	45.6%-9.5pp	55.0%+48.0pp	7.0%-8.5pp	15.5%-31.0pp	46.6%-31.1pp	77.7%
Return on Equity	6.3%-3.0pp	9.3%+8.4pp	0.9%-0.6pp	1.5%-5.3pp	6.9%-3.4pp	10.3%
Return on Assets	1.6%-0.8pp	2.4%+2.2pp	0.2%-0.0pp	0.3%-1.4pp	1.7%-0.6pp	2.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.90+0.2	2.74-0.2	2.90-1.6	4.49+1.8	2.73-0.3	3.08
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	19.3%-27.7pp	47.1%-0.9pp	48.0%-11.1pp	59.2%+63.4pp	-4.3%-70.8pp	66.6%+11.8pp	54.8%+3.9pp	50.9%
Return on Equity	1.2%-0.4pp	1.6%-0.0pp	1.6%-0.4pp	2.0%	N/A	2.3%+0.4pp	1.9%-0.1pp	2.0%
Return on Assets	0.3%-0.1pp	0.4%-0.0pp	0.4%-0.1pp	0.5%+0.5pp	-0.0%-0.6pp	0.6%+0.1pp	0.5%-0.0pp	0.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.10+0.4	2.72+0.0	2.71-0.2	2.90-0.1	3.05+0.3	2.79+0.0	2.74+0.1	2.67
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 Franklin Bsp Rlty Tr Inc's annual revenue?

Franklin Bsp Rlty Tr Inc (FBRT) reported $210.5M in total revenue for fiscal year 2024. This represents a -20.3% 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 Franklin Bsp Rlty Tr Inc's revenue growing?

Franklin Bsp Rlty Tr Inc (FBRT) revenue declined by 20.3% year-over-year, from $263.9M to $210.5M in fiscal year 2024.

Is Franklin Bsp Rlty Tr Inc profitable?

Yes, Franklin Bsp Rlty Tr Inc (FBRT) reported a net income of $95.9M in fiscal year 2024, with a net profit margin of 45.6%.

What is Franklin Bsp Rlty Tr Inc's earnings per share (EPS)?

Franklin Bsp Rlty Tr Inc (FBRT) reported diluted earnings per share of $0.82 for fiscal year 2024. This represents a -42.3% 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.

What is Franklin Bsp Rlty Tr Inc's net profit margin?

Franklin Bsp Rlty Tr Inc (FBRT) had a net profit margin of 45.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Franklin Bsp Rlty Tr Inc pay dividends?

Yes, Franklin Bsp Rlty Tr Inc (FBRT) paid $1.42 per share in dividends during fiscal year 2024.

What is Franklin Bsp Rlty Tr Inc's return on equity (ROE)?

Franklin Bsp Rlty Tr Inc (FBRT) has a return on equity of 6.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Franklin Bsp Rlty Tr Inc's operating cash flow?

Franklin Bsp Rlty Tr Inc (FBRT) generated $57.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Franklin Bsp Rlty Tr Inc's total assets?

Franklin Bsp Rlty Tr Inc (FBRT) had $6.0B in total assets as of fiscal year 2024, including both current and long-term assets.

Does Franklin Bsp Rlty Tr Inc buy back shares?

Yes, Franklin Bsp Rlty Tr Inc (FBRT) spent $4.9M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

How many shares does Franklin Bsp Rlty Tr Inc have outstanding?

Franklin Bsp Rlty Tr Inc (FBRT) had 83M shares outstanding as of fiscal year 2024.

What is Franklin Bsp Rlty Tr Inc's debt-to-equity ratio?

Franklin Bsp Rlty Tr Inc (FBRT) had a debt-to-equity ratio of 2.90 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Franklin Bsp Rlty Tr Inc's return on assets (ROA)?

Franklin Bsp Rlty Tr Inc (FBRT) had a return on assets of 1.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Franklin Bsp Rlty Tr Inc's Piotroski F-Score?

Franklin Bsp Rlty Tr Inc (FBRT) 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 Franklin Bsp Rlty Tr Inc's earnings high quality?

Franklin Bsp Rlty Tr Inc (FBRT) has an earnings quality ratio of 0.60x, 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.