JBG SMITH Properties (JBGS) 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 15, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the JBGS SEC filings page.
JBG SMITH Properties (JBGS) reported $508.4M in revenue over the twelve months to Jun 30, 2026, down 1.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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).
JBG SMITH’s property base is shrinking while debt claims rise, leaving less equity cushion and weaker cash generation.
Across FY2021–FY2025, revenue declined21.4% while operating cash flow fell66.3% , revealing a much steeper deterioration in cash production than the top line alone suggests. Cash conversion weakened faster than scale, making financing structure more important to the business’s reported results.
Leverage intensified rather than merely reflecting a one-year fluctuation: debt-to-equity climbed from 1.0x in FY2021 to 2.3x in FY2025. Total equity was
Despite a net loss of
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 JBG SMITH Properties'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. JBG SMITH Properties scores 47/100 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. JBG SMITH Properties scores 9/100 on it among other REITs.
Not available for JBG SMITH Properties, and counted as zero in the overall score.
Not available for JBG SMITH Properties, 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. JBG SMITH Properties scores 51/100 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. JBG SMITH Properties scores 76/100 on it among other REITs.
JBG SMITH Properties passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 4 profitability signals pass, both operating efficiency signals pass.
JBG SMITH Properties reported a net loss of $139.1M while generating $73.3M 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
JBG SMITH Properties generated $129.4M in revenue in Q2 2026. This represents an increase of 2.3% from the same quarter a year earlier. Against the prior quarter it is up 1.4%.
JBG SMITH Properties reported -$59.2M in net income in Q2 2026. This represents a decrease of 207.4% from the same quarter a year earlier. Against the prior quarter it is down 216.4%.
JBG SMITH Properties earned -$1.03 per diluted share (EPS) in Q2 2026. This represents a decrease of 255.2% from the same quarter a year earlier. Against the prior quarter it is down 221.9%.
Not reported for Q2 2026.
Cash & Balance Sheet
JBG SMITH Properties held $74.8M in cash as of Q2 2026; long-term debt is not reported for that period.
JBG SMITH Properties paid $0.17 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier.
Not reported for Q2 2026.
Margins & Returns
JBG SMITH Properties's net profit margin was -45.7% in Q2 2026, showing the share of revenue converted to profit. This is down 30.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 31.1 percentage points.
JBG SMITH Properties's ROE was -5.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 4.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 3.9 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
JBG SMITH Properties spent $3.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 98.7% from the same quarter a year earlier. Against the prior quarter it is down 88.2%.
Not reported for Q2 2026.
Not reported for Q2 2026.
JBGS 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $129.4M+2.3% | $127.6M+5.7% | $127.6M-2.5% | $123.9M-8.9% | $126.5M-6.5% | $120.7M-16.9% | $130.8M-11.4% | $136.0M-10.3% |
| Interest Expense | $36.0M+1.3% | $35.5M+1.0% | $36.5M-0.5% | $34.8M-1.4% | $35.6M+11.3% | $35.2M+16.7% | $36.7M+30.6% | $35.3M+26.4% |
| Income Tax | N/A | $7K+103.5% | -$4.5M-657.7% | $926K+11.4% | -$83K-113.9% | -$200K+86.4% | $802K+182.9% | $831K+979.2% |
| Net Income | -$59.2M-207.4% | -$18.7M+59.1% | -$45.5M+24.0% | -$28.6M-5.8% | -$19.2M+21.1% | -$45.7M-41.7% | -$59.9M-83.8% | -$27.0M+53.5% |
| EPS (Basic) | -$1.03-255.2% | -$0.32+42.9% | -$0.74-5.7% | -$0.48-50.0% | -$0.29-7.4% | -$0.56-55.6% | -$0.70-112.1% | -$0.32+44.8% |
| EPS (Diluted) | -$1.03-255.2% | -$0.32+42.9% | -$0.74-5.7% | -$0.48-50.0% | -$0.29-7.4% | -$0.56-55.6% | -$0.70-112.1% | -$0.32+44.8% |
| Diluted Shares (Avg) | 58M-14.6% | 59M-27.5% | N/A | 61M-28.9% | 68M-25.0% | 82M-12.0% | N/A | 85M-15.9% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.
JBGS 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.3B-6.3% | $4.3B-8.4% | $4.4B-12.6% | $4.4B-14.8% | $4.5B-14.6% | $4.7B-12.4% | $5.0B-9.0% | $5.2B-8.5% |
| Cash & Equivalents | $74.8M+21.8% | $79.8M-1.9% | $75.3M-48.4% | $64.4M-53.0% | $61.4M-62.4% | $81.3M-63.1% | $145.8M-11.5% | $137.0M+5.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | N/A | N/A | $12.2M-9.9% | N/A | N/A | N/A | $13.5M-56.4% | N/A |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $2.7B+0.3% | $2.7B-1.5% | $2.7B-2.5% | $2.7B-6.4% | $2.7B-6.0% | $2.7B-1.9% | $2.8B-1.3% | $2.8B+0.9% |
| Total Equity | $1.1B-19.4% | $1.1B-27.4% | $1.2B-36.0% | $1.2B-36.7% | $1.3B-34.5% | $1.6B-26.9% | $1.8B-18.6% | $1.9B-20.7% |
| Retained Earnings | -$1.3B-18.0% | -$1.2B-15.0% | -$1.2B-18.4% | -$1.1B-22.7% | -$1.1B-24.1% | -$1.0B-26.4% | -$997.3M-28.4% | -$907.8M-25.6% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt.
JBGS 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $15.8M-15.8% | $3.4M-73.6% | $32.6M-22.7% | $8.9M-66.4% | $18.8M-20.8% | $12.9M-65.1% | $42.2M-38.4% | $26.4M+3.6% |
| Depreciation & Amortization | $44.8M-5.8% | $47.2M-4.6% | $48.6M-6.1% | $48.2M-3.8% | $47.6M-7.3% | $49.5M-15.4% | $51.8M-11.9% | $50.0M-0.4% |
| Stock-Based Compensation | $8.9M+15.9% | $8.0M+12.1% | N/A | $5.0M-3.2% | $7.7M-32.8% | $7.2M-24.9% | N/A | $5.1M-21.1% |
| Investing Cash Flow | -$17.0M-115.6% | $24.0M-85.1% | -$39.8M-164.5% | $126.4M+518.8% | $109.4M+277.6% | $161.3M+30.5% | $61.7M+146.4% | $20.4M+66.6% |
| Financing Cash Flow | -$5.6M+96.5% | -$15.8M+93.3% | $22.7M+125.0% | -$138.5M-67.7% | -$157.6M-853.8% | -$237.1M-135.2% | -$90.9M-46.9% | -$82.6M-15.0% |
| Dividends Paid | $10.2M-17.6% | $10.4M-29.6% | $10.4M-29.9% | $10.8M-27.9% | $12.4M-22.8% | $14.8M-8.0% | $14.8M-31.1% | $15.0M-34.8% |
| Share Buybacks | $3.0M-98.7% | $25.4M-82.8% | $7.9M+228.1% | $62.9M+21.0% | $225.3M+236.6% | $147.6M+198.5% | $2.4M-96.1% | $52.0M-55.9% |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
JBGS 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -45.7%-30.5pp | -14.6%+23.2pp | -35.7%+10.1pp | -23.1%-3.2pp | -15.2%+2.8pp | -37.9%-15.7pp | -45.8%-23.7pp | -19.8%+18.4pp |
| Return on Equity | -5.5%-4.1pp | -1.6%+1.3pp | -3.9%-0.6pp | -2.4%-1.0pp | -1.5%-0.2pp | -2.9%-1.4pp | -3.3%-1.8pp | -1.4%+1.0pp |
| Return on Assets | -1.4%-1.0pp | -0.4%+0.5pp | -1.0%+0.2pp | -0.7%-0.1pp | -0.4%0.0pp | -1.0%-0.4pp | -1.2%-0.6pp | -0.5%+0.5pp |
| Debt-to-Equity | 2.52+0.5x | 2.37+0.6x | 2.35+0.8x | 2.23+0.7x | 2.03+0.6x | 1.75+0.4x | 1.54+0.3x | 1.51+0.3x |
| 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 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF 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 |
|---|---|---|---|---|---|---|
| JBG SMITH Properties JBGS | FY2025 | $498.6M | -$139.1M | -27.9% | $855.7M | 31/100 |
| PARAMOUNT GROUP, INC. PGRE | FY2024 | $757.5M | -$46.3M | -6.1% | $1.5B | 35/100 |
| Easterly Government Properties, Inc. DEA | FY2025 | $336.1M | $13.0M | 3.9% | $1.0B | 38/100 |
| Piedmont Realty Trust, Inc. PDM | FY2025 | $565.0M | -$83.6M | -14.8% | $1.1B | 32/100 |
| Brandywine Realty Trust BDN | FY2025 | $484.5M | -$178.2M | -36.8% | $435.7M | 8/100 |
| Peakstone Realty Trust PKST | FY2025 | $106.0M | -$307.7M | N/A | $780.6M | 9/100 |
Where JBG SMITH Properties Ranks
Frequently Asked Questions
What is JBG SMITH Properties's annual revenue?
JBG SMITH Properties (JBGS) reported $498.6M in total revenue for fiscal year 2025. This represents a -8.9% 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 JBG SMITH Properties's revenue growing?
JBG SMITH Properties (JBGS) revenue declined by 8.9% year-over-year, from $547.3M to $498.6M in fiscal year 2025.
Is JBG SMITH Properties profitable?
No, JBG SMITH Properties (JBGS) reported a net income of -$139.1M in fiscal year 2025, with a net profit margin of -27.9%.
What is JBG SMITH Properties's net profit margin?
JBG SMITH Properties (JBGS) had a net profit margin of -27.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does JBG SMITH Properties pay dividends?
Yes, JBG SMITH Properties (JBGS) paid $0.70 per share in dividends during fiscal year 2025.
What is JBG SMITH Properties's return on equity (ROE)?
JBG SMITH Properties (JBGS) has a return on equity of -12.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is JBG SMITH Properties's operating cash flow?
JBG SMITH Properties (JBGS) generated $73.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are JBG SMITH Properties's total assets?
JBG SMITH Properties (JBGS) had $4.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What is JBG SMITH Properties's debt-to-equity ratio?
JBG SMITH Properties (JBGS) had a debt-to-equity ratio of 2.35 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is JBG SMITH Properties's return on assets (ROA)?
JBG SMITH Properties (JBGS) had a return on assets of -3.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is JBG SMITH Properties's P/E ratio?
JBG SMITH Properties (JBGS) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $855.7M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is JBG SMITH Properties's price-to-sales ratio?
JBG SMITH Properties (JBGS) trades at 1.7x sales, its market capitalization divided by revenue of $508.4M revenue, trailing 12 months to June 30, 2026. The market capitalization is $855.7M as of Oct 15, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is JBG SMITH Properties's Piotroski F-Score?
JBG SMITH Properties (JBGS) has a Piotroski F-Score of 3 out of 5 computable signals; 4 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 JBG SMITH Properties's earnings high quality?
JBG SMITH Properties (JBGS) reported a net loss of $139.1M while generating $73.3M 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 JBG SMITH Properties?
JBG SMITH Properties (JBGS) scores 31 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.