Franklin Street Properties Corp (FSP) 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 Sep 12, 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 Apr 28, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FSP SEC filings page.
Franklin Street Properties Corp (FSP) reported $106.3M in revenue over the twelve months to Mar 31, 2026, down 8.4% 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).
Asset contraction is shrinking revenue while losses persist, and lower leverage has not restored cash generation.
Revenue fell48.8% from FY2021 to FY2025 while total assets contracted34.5% , linking the top-line decline to a smaller asset base rather than scale expansion. Cash conversion weakened alongside that contraction: operating cash flow fell from$36.4M to$3.8M , so accounting results increasingly translated into less operating liquidity.
Margin deterioration was broader than the revenue decline: gross margin narrowed from
By FY2025, operating cash flow was only
Financial Health Signals
Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Franklin Street Properties Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Franklin Street Properties Corp scores 34/100 on it among other REITs.
FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Franklin Street Properties Corp scores 7/100 on it among other REITs.
Not available for Franklin Street Properties Corp, and counted as zero in the overall score.
Not available for Franklin Street Properties Corp, and counted as zero in the overall score.
AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Franklin Street Properties Corp scores 20/100 on it among other REITs.
Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Franklin Street Properties Corp scores 90/100 on it among other REITs.
Franklin Street Properties Corp passes 3 of 7 computable financial strength tests (2 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.
Franklin Street Properties Corp reported a net loss of $45.0M while generating $3.8M 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
Franklin Street Properties Corp generated $26.2M in revenue in Q1 2026. This represents a decrease of 3.3% from the same quarter a year earlier. Against the prior quarter it is up 0.7%.
Franklin Street Properties Corp reported -$9.5M in net income in Q1 2026. This represents an increase of 55.6% from the same quarter a year earlier. Against the prior quarter it is down 30.1%.
Franklin Street Properties Corp earned -$0.09 per diluted share (EPS) in Q1 2026. This represents an increase of 57.1% from the same quarter a year earlier. Against the prior quarter it is down 28.6%.
Not reported for Q1 2026.
Cash & Balance Sheet
Franklin Street Properties Corp recorded an outflow of $7.8M in free cash flow in Q1 2026, representing a cash shortfall after capex. This represents an increase of 21.0% from the same quarter a year earlier. Against the prior quarter it is down 32800.0%.
Franklin Street Properties Corp held $23.8M in cash as of Q1 2026; long-term debt is not reported for that period.
Franklin Street Properties Corp paid $0.01 per share in dividends in Q1 2026. That is unchanged from the same quarter a year earlier.
Margins & Returns
Franklin Street Properties Corp's gross margin was 60.8% in Q1 2026, indicating the percentage of revenue retained after direct costs. This is down 2.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.4 percentage points.
Franklin Street Properties Corp's net profit margin was -36.3% in Q1 2026, showing the share of revenue converted to profit. This is up 42.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.2 percentage points.
Franklin Street Properties Corp's ROE was -1.6% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 1.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.4 percentage points.
Not reported for Q1 2026.
Capital Allocation
Franklin Street Properties Corp invested $2.7M in capex in Q1 2026, funding long-term assets and infrastructure. This represents a decrease of 39.5% from the same quarter a year earlier. Against the prior quarter it is down 29.2%.
Not reported for Q1 2026.
Not reported for Q1 2026.
FSP 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 | $26.2M-3.3% | $26.0M-8.2% | $27.3M-8.0% | $26.7M-13.3% | $27.1M-13.2% | $28.4M-18.4% | $29.7M-19.6% | $30.8M-15.0% |
| Cost of Revenue | $10.3M+1.9% | $10.6M-7.4% | $10.7M-7.8% | $10.7M-3.0% | $10.1M-8.4% | $11.4M-12.8% | $11.6M-9.6% | $11.0M-9.2% |
| Gross Profit | $15.9M-6.3% | $15.5M-8.8% | $16.6M-8.2% | $16.0M-19.1% | $17.0M-15.8% | $17.0M-21.8% | $18.1M-24.9% | $19.8M-17.9% |
| SG&A Expenses | $2.7M-23.4% | $2.6M-6.6% | $3.0M-7.4% | $3.3M-9.7% | $3.5M-16.2% | $2.8M-11.3% | $3.3M+0.3% | $3.6M-3.5% |
| Interest Expense | $6.8M+19.7% | $6.3M+7.3% | $6.3M-3.6% | $6.3M-10.5% | $5.7M-16.9% | $5.9M-5.0% | $6.6M+6.1% | $7.1M+16.4% |
| Income Tax | $54K+3.8% | $52K-3.7% | $3K-94.6% | $82K+70.8% | $52K-10.3% | $54K-19.4% | $56K-20.0% | $48K-36.0% |
| Net Income | -$9.5M+55.6% | -$7.3M+14.1% | -$8.3M+46.7% | -$7.9M+62.5% | -$21.4M-183.8% | -$8.5M-338.5% | -$15.6M+65.8% | -$21.0M-149.7% |
| EPS (Basic) | -$0.09+57.1% | -$0.07+12.5% | -$0.08+46.7% | -$0.08+60.0% | -$0.21-200.0% | -$0.08-366.7% | -$0.15+65.9% | -$0.20-150.0% |
| EPS (Diluted) | -$0.09+57.1% | -$0.07+12.5% | -$0.08+46.7% | -$0.08+60.0% | -$0.21-200.0% | -$0.08-366.7% | -$0.15+65.9% | -$0.20-150.0% |
| Diluted Shares (Avg) | 104M+0.1% | N/A | 104M+0.1% | 104M+0.1% | 104M+0.1% | N/A | 104M+0.1% | 103M+0.1% |
Not reported in any period shown, so not listed: R&D Expenses, Operating Income, EBITDA.
FSP 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 | $881.8M-3.8% | $892.9M-5.7% | $901.0M-8.2% | $903.2M-10.8% | $916.4M-11.8% | $946.9M-19.0% | $981.5M-14.8% | $1.0B-15.6% |
| Cash & Equivalents | $23.8M-21.3% | $30.6M-25.7% | $31.4M-23.1% | $29.4M-2.9% | $30.2M-11.7% | $41.1M-67.2% | $40.9M+213.3% | $30.2M+408.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $1.3M-8.0% | $471K-63.3% | $1.4M+2.3% | $1.6M-33.2% | $1.5M-33.5% | $1.3M-41.4% | $1.3M-52.7% | $2.3M+21.2% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $285.4M+0.8% | $285.9M-1.8% | $285.7M-9.6% | $278.5M-15.7% | $283.0M-15.6% | $291.1M-36.2% | $316.1M-28.2% | $330.4M-24.9% |
| Total Equity | $596.4M-5.8% | $607.0M-7.5% | $615.3M-7.5% | $624.7M-8.4% | $633.4M-10.0% | $655.9M-8.0% | $665.4M-6.5% | $682.1M-10.1% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt, Retained Earnings.
FSP 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 | -$5.2M+6.0% | $3.8M+70.2% | $8.3M-42.8% | -$2.9M-344.1% | -$5.5M+22.7% | $2.3M-64.4% | $14.5M+30.7% | -$648K-141.3% |
| Depreciation & Amortization | $11.6M+0.8% | $11.3M-1.5% | $10.6M-3.3% | $10.6M-7.5% | $11.5M-6.5% | $11.5M-8.6% | $10.9M-18.6% | $11.5M-21.6% |
| Capital Expenditures | $2.7M-39.5% | $3.8M-38.0% | $5.3M-9.3% | $2.9M-36.1% | $4.5M-49.1% | $6.1M+9.4% | $5.8M-23.9% | $4.5M-35.4% |
| Free Cash Flow | -$7.8M+21.0% | $24K+100.6% | $3.0M-65.4% | -$5.7M-11.8% | -$9.9M+37.3% | -$3.9M-649.2% | $8.6M+153.1% | -$5.1M+4.5% |
| Investing Cash Flow | -$2.7M+39.5% | -$3.8M-114.4% | -$5.3M-123.2% | $3.2M+172.0% | -$4.5M-117.4% | $26.4M-73.4% | $22.8M+1638.4% | -$4.5M+35.4% |
| Financing Cash Flow | $1.0M+186.6% | -$1.0M+96.3% | -$1.9M+92.6% | -$1.4M-21.9% | -$1.2M+98.9% | -$28.4M-416.7% | -$26.3M-336.7% | -$1.1M-10.8% |
| Dividends Paid | $1.0M+0.1% | $1.0M+0.1% | $1.0M+0.1% | $1.0M+0.1% | $1.0M+0.2% | $1.0M+0.2% | $1.0M+0.2% | $1.0M+0.2% |
Not reported in any period shown, so not listed: Stock-Based Compensation, Share Buybacks.
FSP 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 | 60.8%-2.0pp | 59.4%-0.3pp | 60.9%-0.1pp | 59.9%-4.3pp | 62.8%-1.9pp | 59.7%-2.6pp | 61.0%-4.3pp | 64.2%-2.3pp |
| Net Margin | -36.3%+42.7pp | -28.1%+1.9pp | -30.5%+22.1pp | -29.5%+38.7pp | -79.1%-54.9pp | -30.0%-40.3pp | -52.6% | -68.2%-45.0pp |
| Return on Equity | -1.6%+1.8pp | -1.2%+0.1pp | -1.4%+1.0pp | -1.3%+1.8pp | -3.4%-2.3pp | -1.3%-1.8pp | -2.4%+4.1pp | -3.1%-2.0pp |
| Return on Assets | -1.1%+1.3pp | -0.8%+0.1pp | -0.9%+0.7pp | -0.9%+1.2pp | -2.3%-1.6pp | -0.9%-1.2pp | -1.6%+2.4pp | -2.1%-1.4pp |
| Debt-to-Equity | 0.480.0x | 0.470.0x | 0.460.0x | 0.450.0x | 0.450.0x | 0.44-0.2x | 0.47-0.1x | 0.48-0.1x |
| Asset Turnover | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x |
| FCF Margin | -29.9%+6.7pp | 0.1%+13.8pp | 11.0%-18.2pp | -21.5%-4.8pp | -36.6%+14.1pp | -13.7%-15.7pp | 29.1%+19.9pp | -16.7%-1.8pp |
Not reported in any period shown, so not listed: Operating Margin, Current Ratio.
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 |
|---|---|---|---|---|---|---|
| Franklin Street Properties Corp FSP | FY2025 | $107.2M | -$45.0M | -42.0% | $36.0M | 25/100 |
| Orion Properties Inc. ONL | FY2025 | $147.6M | -$139.3M | -94.3% | $146.0M | 24/100 |
| CITY OFFICE REIT, INC. CIO | FY2024 | $171.1M | -$17.7M | -10.3% | $282.1M | 46/100 |
| Peakstone Realty Trust PKST | FY2025 | $106.0M | -$307.7M | N/A | $780.6M | 9/100 |
| Net Lease Office Properties NLOP | FY2025 | $118.9M | -$145.3M | N/A | $161.0M | 35/100 |
| Piedmont Realty Trust, Inc. PDM | FY2025 | $565.0M | -$83.6M | -14.8% | $1.2B | 32/100 |
Where Franklin Street Properties Corp Ranks
Frequently Asked Questions
What is Franklin Street Properties Corp's annual revenue?
Franklin Street Properties Corp (FSP) reported $107.2M in total revenue for fiscal year 2025. This represents a -10.8% 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 Street Properties Corp's revenue growing?
Franklin Street Properties Corp (FSP) revenue declined by 10.8% year-over-year, from $120.1M to $107.2M in fiscal year 2025.
Is Franklin Street Properties Corp profitable?
No, Franklin Street Properties Corp (FSP) reported a net income of -$45.0M in fiscal year 2025, with a net profit margin of -42.0%.
What is Franklin Street Properties Corp's gross margin?
Franklin Street Properties Corp (FSP) had a gross margin of 60.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Franklin Street Properties Corp's net profit margin?
Franklin Street Properties Corp (FSP) had a net profit margin of -42.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Franklin Street Properties Corp pay dividends?
Yes, Franklin Street Properties Corp (FSP) paid $0.04 per share in dividends during fiscal year 2025.
What is Franklin Street Properties Corp's return on equity (ROE)?
Franklin Street Properties Corp (FSP) has a return on equity of -7.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Franklin Street Properties Corp's free cash flow?
Franklin Street Properties Corp (FSP) recorded an outflow of $12.7M in free cash flow during fiscal year 2025. This represents a 22.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Franklin Street Properties Corp's operating cash flow?
Franklin Street Properties Corp (FSP) generated $3.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Franklin Street Properties Corp's total assets?
Franklin Street Properties Corp (FSP) had $892.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Franklin Street Properties Corp's capital expenditures?
Franklin Street Properties Corp (FSP) invested $16.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Franklin Street Properties Corp's debt-to-equity ratio?
Franklin Street Properties Corp (FSP) had a debt-to-equity ratio of 0.47 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Franklin Street Properties Corp's return on assets (ROA)?
Franklin Street Properties Corp (FSP) 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 Franklin Street Properties Corp's P/E ratio?
Franklin Street Properties Corp (FSP) 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 $36.0M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Franklin Street Properties Corp's price-to-sales ratio?
Franklin Street Properties Corp (FSP) trades at 0.3x sales, its market capitalization divided by revenue of $106.3M revenue, trailing 12 months to March 31, 2026. The market capitalization is $36.0M as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Franklin Street Properties Corp's Piotroski F-Score?
Franklin Street Properties Corp (FSP) has a Piotroski F-Score of 3 out of 7 computable signals; 2 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 Franklin Street Properties Corp's earnings high quality?
Franklin Street Properties Corp (FSP) reported a net loss of $45.0M while generating $3.8M 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.
How financially healthy is Franklin Street Properties Corp?
Franklin Street Properties Corp (FSP) scores 25 out of 100 on our Financial Health Score, indicating weak standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.