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FSP vs PGRE
Revenue, margins, valuation, and 5-year total return — side by side.
REIT - Office
FSP vs PGRE — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||
|---|---|---|
| Industry | REIT - Office | REIT - Office |
| Market Cap | $58M | $1.46B |
| Revenue (TTM) | $106M | $723M |
| Net Income (TTM) | $-33M | $-97M |
| Gross Margin | 54.2% | 57.2% |
| Operating Margin | 4.7% | 14.7% |
| Total Debt | $249M | $3.68B |
| Cash & Equiv. | $31M | $375M |
FSP vs PGRE — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Franklin Street Pro… (FSP) | 100 | 10.5 | -89.5% |
| Paramount Group, In… (PGRE) | 100 | 85.5 | -14.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: FSP vs PGRE
Each card shows where this stock fits in a portfolio — not just who wins on paper.
FSP is the clearest fit if your priority is income & stability.
- Dividend streak 1 yrs, beta 1.13
PGRE carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 2.0%, EPS growth 82.5%, 3Y rev CAGR 1.4%
- -46.2% 10Y total return vs FSP's -65.7%
- Lower volatility, beta 0.31, Low D/E 91.7%, current ratio 7.76x
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 2.0% FFO/revenue growth vs FSP's -10.8% | |
| Quality / Margins | -13.5% margin vs FSP's -31.1% | |
| Stability / Safety | Beta 0.31 vs FSP's 1.13 | |
| Dividends | 1.6% yield; the other pay no meaningful dividend | |
| Momentum (1Y) | +38.7% vs FSP's -61.5% | |
| Efficiency (ROA) | -1.2% ROA vs FSP's -3.7%, ROIC 1.5% vs -0.7% |
FSP vs PGRE — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FSP vs PGRE — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
Income & Cash Flow (Last 12 Months)
PGRE leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
PGRE is the larger business by revenue, generating $723M annually — 6.8x FSP's $106M. PGRE is the more profitable business, keeping -13.5% of every revenue dollar as net income compared to FSP's -31.1%. On growth, FSP holds the edge at -3.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||
|---|---|---|
| RevenueTrailing 12 months | $106M | $723M |
| EBITDAEarnings before interest/tax | $49M | $342M |
| Net IncomeAfter-tax profit | -$33M | -$97M |
| Free Cash FlowCash after capex | $1M | $165M |
| Gross MarginGross profit ÷ Revenue | +54.2% | +57.2% |
| Operating MarginEBIT ÷ Revenue | +4.7% | +14.7% |
| Net MarginNet income ÷ Revenue | -31.1% | -13.5% |
| FCF MarginFCF ÷ Revenue | +1.1% | +22.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | -3.3% | -11.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +57.1% | -191.5% |
Valuation Metrics
FSP leads this category, winning 3 of 4 comparable metrics.
Valuation Metrics
On an enterprise value basis, FSP's 8.0x EV/EBITDA is more attractive than PGRE's 12.3x.
| Metric | ||
|---|---|---|
| Market CapShares × price | $58M | $1.5B |
| Enterprise ValueMkt cap + debt − cash | $276M | $4.8B |
| Trailing P/EPrice ÷ TTM EPS | -1.30x | -31.43x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 8.00x | 12.29x |
| Price / SalesMarket cap ÷ Revenue | 0.54x | 1.93x |
| Price / BookPrice ÷ Book value/share | 0.10x | 0.36x |
| Price / FCFMarket cap ÷ FCF | — | 5.53x |
Profitability & Efficiency
PGRE leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
PGRE delivers a -2.4% return on equity — every $100 of shareholder capital generates $-2 in annual profit, vs $-5 for FSP. FSP carries lower financial leverage with a 0.41x debt-to-equity ratio, signaling a more conservative balance sheet compared to PGRE's 0.92x. On the Piotroski fundamental quality scale (0–9), PGRE scores 7/9 vs FSP's 5/9, reflecting strong financial health.
| Metric | ||
|---|---|---|
| ROE (TTM)Return on equity | -5.4% | -2.4% |
| ROA (TTM)Return on assets | -3.7% | -1.2% |
| ROICReturn on invested capital | -0.7% | +1.5% |
| ROCEReturn on capital employed | -0.9% | +1.9% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 7 |
| Debt / EquityFinancial leverage | 0.41x | 0.92x |
| Net DebtTotal debt minus cash | $218M | $3.3B |
| Cash & Equiv.Liquid assets | $31M | $375M |
| Total DebtShort + long-term debt | $249M | $3.7B |
| Interest CoverageEBIT ÷ Interest expense | -0.81x | 0.95x |
Total Returns (Dividends Reinvested)
PGRE leads this category, winning 5 of 5 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in PGRE five years ago would be worth $6,949 today (with dividends reinvested), compared to $2,620 for FSP. Over the past 12 months, PGRE leads with a +38.7% total return vs FSP's -61.5%. The 3-year compound annual growth rate (CAGR) favors PGRE at 14.9% vs FSP's -19.7% — a key indicator of consistent wealth creation.
| Metric | ||
|---|---|---|
| YTD ReturnYear-to-date | -39.5% | — |
| 1-Year ReturnPast 12 months | -61.5% | +38.7% |
| 3-Year ReturnCumulative with dividends | -48.2% | +51.6% |
| 5-Year ReturnCumulative with dividends | -73.8% | -30.5% |
| 10-Year ReturnCumulative with dividends | -65.7% | -46.2% |
| CAGR (3Y)Annualised 3-year return | -19.7% | +14.9% |
Risk & Volatility
PGRE leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
PGRE is the less volatile stock with a 0.31 beta — it tends to amplify market swings less than FSP's 1.13 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. PGRE currently trades 84.1% from its 52-week high vs FSP's 27.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.13x | 0.31x |
| 52-Week HighHighest price in past year | $2.05 | $7.85 |
| 52-Week LowLowest price in past year | $0.53 | $4.48 |
| % of 52W HighCurrent price vs 52-week peak | +27.3% | +84.1% |
| RSI (14)Momentum oscillator 0–100 | 33.8 | 56.8 |
| Avg Volume (50D)Average daily shares traded | 480K | 1.5M |
Analyst Outlook
FSP leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
PGRE is the only dividend payer here at 1.59% yield — a key consideration for income-focused portfolios.
| Metric | ||
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | — | Hold |
| Price TargetConsensus 12-month target | — | $12.00 |
| # AnalystsCovering analysts | — | 13 |
| Dividend YieldAnnual dividend ÷ price | — | +1.6% |
| Dividend StreakConsecutive years of raises | 1 | 0 |
| Dividend / ShareAnnual DPS | — | $0.11 |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | +0.0% |
PGRE leads in 4 of 6 categories (Income & Cash Flow, Profitability & Efficiency). FSP leads in 2 (Valuation Metrics, Analyst Outlook).
FSP vs PGRE: Frequently Asked Questions
8 questions · data-driven answers · updated daily
01Is FSP or PGRE a better buy right now?
For growth investors, Paramount Group, Inc.
(PGRE) is the stronger pick with 2. 0% revenue growth year-over-year, versus -10. 8% for Franklin Street Properties Corp. (FSP). Analysts rate Paramount Group, Inc. (PGRE) a "Hold" — based on 13 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — FSP or PGRE?
Over the past 5 years, Paramount Group, Inc.
(PGRE) delivered a total return of -30. 5%, compared to -73. 8% for Franklin Street Properties Corp. (FSP). Over 10 years, the gap is even starker: PGRE returned -46. 2% versus FSP's -65. 7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — FSP or PGRE?
By beta (market sensitivity over 5 years), Paramount Group, Inc.
(PGRE) is the lower-risk stock at 0. 31β versus Franklin Street Properties Corp. 's 1. 13β — meaning FSP is approximately 264% more volatile than PGRE relative to the S&P 500. On balance sheet safety, Franklin Street Properties Corp. (FSP) carries a lower debt/equity ratio of 41% versus 92% for Paramount Group, Inc. — giving it more financial flexibility in a downturn.
04Which is growing faster — FSP or PGRE?
By revenue growth (latest reported year), Paramount Group, Inc.
(PGRE) is pulling ahead at 2. 0% versus -10. 8% for Franklin Street Properties Corp. (FSP). On earnings-per-share growth, the picture is similar: Paramount Group, Inc. grew EPS 82. 5% year-over-year, compared to 15. 7% for Franklin Street Properties Corp.. Over a 3-year CAGR, PGRE leads at 1. 4% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — FSP or PGRE?
Paramount Group, Inc.
(PGRE) is the more profitable company, earning -6. 1% net margin versus -42. 0% for Franklin Street Properties Corp. — meaning it keeps -6. 1% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: PGRE leads at 19. 6% versus -7. 6% for FSP. At the gross margin level — before operating expenses — PGRE leads at 60. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Which pays a better dividend — FSP or PGRE?
In this comparison, PGRE (1.
6% yield) pays a dividend. FSP does not pay a meaningful dividend and should not be held primarily for income.
07Is FSP or PGRE better for a retirement portfolio?
For long-horizon retirement investors, Paramount Group, Inc.
(PGRE) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 31), 1. 6% yield). Both have compounded well over 10 years (PGRE: -46. 2%, FSP: -65. 7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
08What are the main differences between FSP and PGRE?
Both stocks operate in the Real Estate sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
PGRE pays a dividend while FSP does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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