Franklin Street Properties Corp.(FSP)Earnings, Financials & Key Ratios

FSP•AMEX•REIT / Real Estate

$0.54

$56M mkt cap·Price updated May 6, 2026

SectorReal Estate IndustryOffice REITs Sub-IndustrySun Belt and Multi-Market Office REITs

AboutFranklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes.Show more

Revenue$107M-10.8%
FFO-$2M+53.0%
FFO/Share-0.02+53.0%
FFO Payout0%+100.0%
FFO per Share-0.02+53.0%
NOI Margin43.78%+0.4%
FFO Margin-2.19%+47.3%
ROE-7.12%+7.6%
ROA-4.89%+1.9%
Debt/Assets27.84%+6.5%
Net Debt/EBITDA6.32+26.8%
Book Value/Share5.86-7.6%

Technical→

FSP Key Insights

Franklin Street Properties Corp. (FSP) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓FFO growing 156.0% TTM
✓Trading at only 0.1x book value

✗Weaknesses

✗Weak momentum: RS Rating 7 (bottom 7%)
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

FSP Price & Volume

Franklin Street Properties Corp. (FSP) stock price & volume — 10-year historical chart

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FSP Growth Metrics

Franklin Street Properties Corp. (FSP) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-7.89%

5 Years-15.3%

3 Years-13.51%

TTM-8.37%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM50.38%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM50.71%

Return on Capital

10 Years1.45%

5 Years-0.15%

3 Years-0.55%

Last Year-0.92%

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
PDMPiedmont Office Realty Trust, Inc.Direct Competitor	1.06B	8.45	-12.61	-0.93%	-20.46%	-5.7%	1.52
HIWHighwoods Properties, Inc.Direct Competitor	2.85B	25.82	17.81	-2.39%	11.4%	3.76%	1.49
VREVeris Residential, Inc.Direct Competitor	1.78B	18.95	23.69	6.4%	24.19%	5.59%	1.07
PGREParamount Group, Inc.Direct Competitor	1.46B	6.60	-31.43	1.97%	-13.47%	-2.39%	0.92
BXPBXP, Inc.Product Competitor	9.5B	59.84	34.39	2.19%	7.95%	3.58%	2.26
KRCKilroy Realty CorporationProduct Competitor	4.16B	35.09	15.13	-2.02%	24.81%	4.91%	0.86
CUZCousins Properties IncorporatedProduct Competitor	4.41B	26.79	111.63	16%	-0.52%	-0.11%	0.78
DEAEasterly Government Properties, Inc.Product Competitor	1.08B	23.29	80.31	11.27%	4.27%	1.07%	1.23

Compare FSP vs Peers

Franklin Street Properties Corp. (FSP) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PDM

Most directly comparable listed peer for FSP.

Scale Benchmark

vs CBRE

Larger-name benchmark to compare FSP against a more recognizable public peer.

Peer Set

Compare Top 5

vs PDM, HIW, VRE, PGRE

FSP Income Statement

Franklin Street Properties Corp. (FSP) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Revenue	272.59M	268.87M	269.06M	245.85M	209.36M	165.62M	145.71M	120.11M	107.16M	106.28M
Revenue Growth %	9.08%	-1.36%	0.07%	-8.63%	-14.84%	-20.89%	-12.02%	-17.57%	-10.78%	-8.37%
Property Operating Expenses	117.05M	116.56M	120.18M	115.33M	101.94M	87.44M	77.93M	67.76M	60.25M	48.65M
Net Operating Income (NOI)	155.53M▲ 0%	152.31M▼ 2.1%	148.88M▼ 2.3%	130.52M▼ 12.3%	107.42M▼ 17.7%	78.17M▼ 27.2%	67.78M▼ 13.3%	52.35M▼ 22.8%	46.91M▼ 10.4%	57.63M▲ 0%
NOI Margin %	57.06%	56.65%	55.33%	53.09%	51.31%	47.2%	46.51%	43.59%	43.78%	54.23%
Operating Expenses	155.53M	152.31M	14.47M	130.52M	94.44M	77.69M	68.76M	58.66M	55.04M	52.61M
G&A Expenses	13.47M	13.07M	14.47M	15M	15.9M	13.88M	14.02M	13.88M	12.43M	11.61M
EBITDA	144.55M	141.63M	217.9M	160.16M	93.98M	66.06M	56.21M	41.42M	34.48M	49.09M
EBITDA Margin %	53.03%	52.67%	80.98%	65.15%	44.89%	39.89%	38.58%	34.48%	32.18%	46.18%
Depreciation & Amortization	103.74M	96.61M	83.48M	91.27M	81.01M	65.58M	57.2M	47.73M	42.61M	44.07M
D&A / Revenue %	38.06%	35.93%	31.03%	37.12%	38.69%	39.6%	39.25%	39.73%	39.76%	41.46%
Operating Income	40.81M▲ 0%	45.01M▲ 10.3%	134.41M▲ 198.6%	0▼ 100.0%	12.97M▲ 0%	482K▼ 96.3%	-984K▼ 304.1%	-6.3M▼ 540.8%	-8.13M▼ 28.9%	5.02M▲ 0%
Operating Margin %	14.97%	16.74%	49.95%	0%	6.2%	0.29%	-0.68%	-5.25%	-7.58%	4.72%
Interest Expense	32.39M	38.37M	36.76M	36.03M	32.27M	22.81M	24.32M	26.42M	24.72M	3M
Interest Coverage	0.63x	1.17x	1.18x	1.91x	3.88x	1.06x	-0.97x	-0.99x	-0.81x	-
Non-Operating Income	20.36M	0	90.91M	-68.89M	-112.23M	-23.62M	22.53M	19.78M	11.93M	24.1M
Pretax Income	-15.54M▲ 0%	13.43M▲ 186.4%	6.74M▼ 49.8%	32.87M▲ 387.3%	93.36M▲ 184.1%	1.3M▼ 98.6%	-47.83M▼ 3785.0%	-52.51M▼ 9.8%	-44.77M▲ 14.7%	-32.86M▲ 0%
Pretax Margin %	-5.7%	4.99%	2.51%	13.37%	44.59%	0.78%	-32.83%	-43.72%	-41.78%	-30.92%
Income Tax	400K	360K	269K	250K	638K	204K	279K	216K	189K	188K
Effective Tax Rate %	-2.57%	2.68%	3.99%	0.76%	0.68%	15.72%	-0.58%	-0.41%	-0.42%	-0.57%
Net Income	-15.94M▲ 0%	13.07M▲ 182.0%	6.47M▼ 50.5%	32.62M▲ 403.7%	92.72M▲ 184.3%	1.09M▼ 98.8%	-48.11M▼ 4497.6%	-52.72M▼ 9.6%	-44.96M▲ 14.7%	-33.05M▲ 0%
Net Margin %	-5.85%	4.86%	2.41%	13.27%	44.29%	0.66%	-33.02%	-43.89%	-41.96%	-31.1%
Net Income Growth %	-290.31%	181.97%	-50.46%	403.71%	184.28%	-98.82%	-4497.62%	-9.59%	14.72%	50.38%
Funds From Operations (FFO)	87.8M▲ 0%	109.68M▲ 24.9%	89.96M▼ 18.0%	123.88M▲ 37.7%	173.72M▲ 40.2%	66.67M▼ 61.6%	9.09M▼ 86.4%	-5M▼ 155.0%	-2.35M▲ 53.0%	11.02M▲ 0%
FFO Margin %	32.21%	40.79%	33.43%	50.39%	82.98%	40.26%	6.24%	-4.16%	-2.19%	10.37%
FFO Growth %	-15.27%	24.93%	-17.98%	37.71%	40.23%	-61.62%	-86.37%	-155.01%	52.96%	428.62%
FFO per Share	0.82	1.02	0.84	1.15	1.63	0.65	0.09	-0.05	-0.02	0.11
FFO Payout Ratio %	92.82%	44.97%	42.91%	31.18%	22.16%	80.97%	45.49%	-82.83%	0%	28.2%
EPS (Diluted)	-0.15▲ 0%	0.12▲ 180.0%	0.06▼ 49.7%	0.30▲ 396.7%	0.87▲ 190.0%	0.01▼ 98.8%	-0.47▼ 4534.0%	-0.51▼ 8.5%	-0.43▲ 15.7%	-0.32▲ 0%
EPS Growth %	-287.5%	180%	-49.67%	396.69%	190%	-98.78%	-4533.96%	-8.51%	15.69%	50.71%
EPS (Basic)	-0.15	0.12	0.06	0.30	0.87	0.01	-0.47	-0.51	-0.43	-
Diluted Shares Outstanding	107.23M	107.23M	107.23M	107.3M	106.67M	103.34M	103.36M	103.51M	103.64M	103.69M

FSP Balance Sheet

Franklin Street Properties Corp. (FSP) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Assets	1.99B	1.9B	1.84B	1.79B	1.36B	1.24B	1.17B	946.93M	892.88M	881.79M
Asset Growth %	-4.67%	-4.64%	-2.92%	-2.68%	-23.92%	-8.98%	-5.83%	-19.02%	-5.71%	-28.47%
Real Estate & Other Assets	-303.22M	1.69B	-40.89M	77.45M	65.84M	59.85M	27.6M	25.36M	822.96M	0
PP&E (Net)	289K	197K	183K	1.6B	1.19B	1.1B	891.25M	835.68M	136K	0
Investment Securities	1000K	1000K	0	0	0	1000K	0	0	0	0
Total Current Assets	146.24M	150.18M	0	85.35M	92.23M	63.87M	243.79M	81.69M	69.79M	63.77M
Cash & Equivalents	9.77M	11.18M	9.79M	2.65M	34.31M	3.74M	125.53M	41.12M	30.57M	23.75M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	8.43M	0	-80.52M	7.25M	6.94M	5.19M	75.67M	1.56M	0	0
Intangible Assets	86.52M	59.59M	0	28.21M	14.93M	10.19M	6.69M	4.21M	0	0
Total Liabilities	1.12B	1.06B	1.06B	1.03B	580.97M	472.93M	456.52M	291.07M	285.91M	285.37M
Total Debt	1.04B	988.13M	969.15M	938.85M	480.03M	413.01M	404.71M	247.63M	248.56M	0
Net Debt	1.03B	976.95M	959.36M	936.2M	445.72M	409.28M	279.18M	206.51M	217.99M	-23.75M
Long-Term Debt	1.04B	988.13M	964.75M	932.26M	478.87M	412.26M	289.67M	246.92M	248.24M	0
Short-Term Borrowings	0	0	0	5.05M	0	0	114.71M	0	0	0
Capital Lease Obligations	0	0	4.4M	1.54M	1.16M	759K	668K	707K	316K	1.25M
Total Current Liabilities	61.04M	59.18M	79.4M	81.03M	94.2M	54.01M	160.61M	37.61M	28.72M	0
Accounts Payable	61.04M	59.18M	0	72.06M	89.49M	50.37M	41.88M	34.07M	0	0
Deferred Revenue	-211.04M	-2.05B	0	0	0	0	0	0	0	0
Other Liabilities	11.19M	3.79M	-969.15M	10.27M	6.75M	5.91M	5.83M	6.27M	8.63M	285.37M
Total Equity	1.91B▲ 0%	1.82B▼ 4.7%	786.4M▼ 56.8%	768.09M▼ 2.3%	783.2M▲ 2.0%	768.74M▼ 1.8%	712.8M▼ 7.3%	655.86M▼ 8.0%	606.98M▼ 7.5%	596.41M▲ 0%
Equity Growth %	-4.88%	-4.74%	-56.75%	-2.33%	1.97%	-1.85%	-7.28%	-7.99%	-7.45%	-29.23%
Shareholders Equity	871.29M	837.63M	786.4M	768.09M	783.2M	768.74M	712.8M	655.86M	606.98M	596.41M
Minority Interest	1.04B	980.75M	0	0	0	0	0	0	0	0
Common Stock	11K	11K	11K	11K	10K	10K	10K	10K	10K	10K
Additional Paid-in Capital	1.36B	1.36B	1.36B	1.36B	1.34B	1.33B	1.34B	1.34B	1.34B	0
Retained Earnings	-497.34M	-533.6M	-565.73M	0	0	0	-622.65M	0	-728.62M	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	-0.78%	0.67%	0.35%	1.79%	5.87%	0.08%	-3.99%	-4.98%	-4.89%	-3.69%
Return on Equity (ROE)	-0.81%	0.7%	0.5%	4.2%	11.95%	0.14%	-6.49%	-7.7%	-7.12%	-5.41%
Debt / Assets	52.33%	52.06%	52.6%	52.36%	35.19%	33.26%	34.61%	26.15%	27.84%	0%
Debt / Equity	0.55x	0.54x	1.23x	1.22x	0.61x	0.54x	0.57x	0.38x	0.41x	0.41x
Net Debt / EBITDA	7.14x	6.90x	4.40x	5.85x	4.74x	6.20x	4.97x	4.99x	6.32x	6.32x
Book Value per Share	17.80	16.96	7.33	7.16	7.34	7.44	6.90	6.34	5.86	5.75

FSP Cash Flow Statement

Franklin Street Properties Corp. (FSP) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	95.93M	80.2M	81.92M	68.45M	36.36M	15.23M	17.87M	8.99M	3.75M	3.75M
Operating CF Growth %	1.65%	-16.4%	2.14%	-16.44%	-46.88%	-58.1%	17.28%	-49.7%	-58.24%	-310.72%
Operating CF / Revenue %	35.19%	29.83%	30.44%	27.84%	17.37%	9.2%	12.26%	7.48%	3.5%	3.53%
Net Income	-15.94M	13.07M	6.47M	32.62M	92.72M	1.09M	-48.11M	-52.72M	-44.96M	-33.05M
Depreciation & Amortization	103.74M	96.61M	93.79M	91.27M	81.01M	65.58M	57.2M	47.74M	45.33M	45.42M
Stock-Based Compensation	-143K	-598K	337K	337K	338K	394K	315K	270K	225K	-268K
Other Non-Cash Items	-15.34M	-50K	-15.5M	-13.73M	-12.2M	-31.84M	11.67M	15.35M	12.91M	-8.8M
Working Capital Changes	-642K	-22.64M	-3.11M	-95K	-13.27M	-19.99M	-3.21M	-1.66M	-9.76M	786K
Cash from Investing	-5.09M	25.64M	-19.62M	11.04M	505.47M	74.04M	113.64M	70.28M	-10.31M	-8.55M
Acquisitions (Net)	0	74.93M	-49.66M	0	-570.31M	0	3.05M	0	0	0
Purchase of Investments	0	0	-2.4M	0	-3M	0	0	0	0	0
Sale of Investments	47.82M	75.99M	52.06M	88.96M	573.31M	128.95M	0	95.5M	6.11M	10K
Other Investing	49.21M	1.77M	51.13M	0	570.31M	0	142.22M	0	0	3.4M
Cash from Financing	-90.4M	-104.49M	-63.69M	-85.13M	-505.24M	-123.39M	-10.25M	-164.47M	-5.56M	-3.34M
Dividends Paid	-81.5M	-49.33M	-38.6M	-38.63M	-38.49M	-53.99M	-4.13M	-4.14M	0	-5.18M
Common Dividends	-81.5M	-49.33M	-38.6M	-38.63M	-38.49M	-53.99M	-4.13M	-4.14M	0	-3.11M
Debt Issuance (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1.26M
Share Repurchases	0	0	0	0	-18.24M	-4.84M	0	0	0	0
Other Financing	-6.9M	-2.16M	-83K	0	0	-2.56M	1.88M	-5.66M	-4.14M	3.1M
Net Change in Cash	438K▲ 0%	1.36M▲ 210.0%	-1.39M▼ 202.1%	-5.64M▼ 306.6%	36.6M▲ 749.0%	-34.12M▼ 193.2%	121.25M▲ 455.4%	-85.2M▼ 170.3%	-12.11M▲ 85.8%	-7.81M▲ 0%
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	9.34M	9.82M	11.18M	9.79M	4.15M	40.75M	6.63M	127.88M	42.68M	30.57M
Cash at End	9.77M	11.18M	9.79M	4.15M	40.75M	6.63M	127.88M	42.68M	30.57M	23.75M
Free Cash Flow	41.62M▲ 0%	29.14M▼ 30.0%	11.17M▼ 61.7%	-9.47M▼ 184.8%	-28.47M▼ 200.6%	-39.68M▼ 39.4%	-13.77M▲ 65.3%	-16.23M▼ 17.8%	-12.66M▲ 22.0%	1.22M▲ 0%
FCF Growth %	119.29%	-29.98%	-61.68%	-184.79%	-200.64%	-39.36%	65.29%	-17.83%	21.96%	111.79%
FCF / Revenue %	15.27%	10.84%	4.15%	-3.85%	-13.6%	-23.96%	-9.45%	-13.51%	-11.82%	1.14%

FSP Key Ratios

Franklin Street Properties Corp. (FSP) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM
FFO per Share	0.82	1.02	0.84	1.15	1.63	0.65	0.09	-0.05	-0.02	0.11
FFO Payout Ratio	92.82%	44.97%	42.91%	31.18%	22.16%	80.97%	45.49%	-82.83%	0%	28.2%
NOI Margin	57.06%	56.65%	55.33%	53.09%	51.31%	47.2%	46.51%	43.59%	43.78%	54.23%
Net Debt / EBITDA	7.14x	6.90x	4.40x	5.85x	4.74x	6.20x	4.97x	4.99x	6.32x	6.32x
Debt / Assets	52.33%	52.06%	52.6%	52.36%	35.19%	33.26%	34.61%	26.15%	27.84%	0%
Interest Coverage	0.63x	1.17x	1.18x	1.91x	3.88x	1.06x	-0.97x	-0.99x	-0.81x	-
Book Value / Share	17.8	16.96	7.33	7.16	7.34	7.44	6.9	6.34	5.86	5.75
Revenue Growth	9.08%	-1.36%	0.07%	-8.63%	-14.84%	-20.89%	-12.02%	-17.57%	-10.78%	-8.37%

FSP SEC Filings & Documents

Franklin Street Properties Corp. (FSP) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 28, 2026·SEC

Material company update

Mar 9, 2026·SEC

Material company update

Mar 4, 2026·SEC

10-K Annual Reports

FY 2026

Mar 9, 2026·SEC

FY 2025

Feb 11, 2025·SEC

FY 2024

Feb 26, 2024·SEC

10-Q Quarterly Reports

FY 2026

Apr 28, 2026·SEC

FY 2025

Oct 28, 2025·SEC

FY 2025

Jul 29, 2025·SEC

FSP Frequently Asked Questions

Franklin Street Properties Corp. (FSP) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Franklin Street Properties Corp. (FSP) reported $106.3M in revenue for fiscal year 2025.

Franklin Street Properties Corp. (FSP) saw revenue decline by 10.8% over the past year.

Franklin Street Properties Corp. (FSP) reported a net loss of $33.1M for fiscal year 2025.

Dividend & Returns

Franklin Street Properties Corp. (FSP) has a return on equity (ROE) of -7.1%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Franklin Street Properties Corp. (FSP) generated Funds From Operations (FFO) of $11.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.

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Franklin Street Properties Corp. (FSP) financial analysis — history, returns, DCA and operating performance tools

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30 years of market, efficiency and balance-sheet ratios

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Franklin Street Properties Corp.(FSP)Earnings, Financials & Key Ratios

FSP Key Insights

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✗Weaknesses

FSP Price & Volume

FSP Growth Metrics

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EPS CAGR

Return on Capital

FSP Peer Comparison

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FSP Income Statement

FSP Balance Sheet

FSP Cash Flow Statement

FSP Key Ratios

FSP SEC Filings & Documents

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Earnings History

Price History

Revenue History

Financial Ratios

Valuation