A Business at a Glance
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FRANKLIN STREET PROPERTIES CORP /MA/
FSP
$45M
Mkt Cap
$0.43
-3.98%
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) has a 5-year average return on invested capital (ROIC) of -1.7%. This is below average and may indicate limited pricing power.
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) has a market capitalization of $45M. It is classified as a small-cap stock.
Yes, FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) pays a dividend with a trailing twelve-month yield of 9.25%.
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) operates in the Real Estate Investment Trusts industry, within the Real Estate sector.
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) reported annual revenue of $107 million in its most recent fiscal year, based on SEC EDGAR filings.
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) has a net profit margin of -42.0%. The company is currently unprofitable.
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) generated $-13 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Our company, Franklin Street Properties Corp., which we refer to as FSP Corp., the Company, we or our, is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust, or REIT, for federal income tax purposes. Our common stock is traded on the NYSE American under the symbol “FSP”. FSP Corp. is the successor to Franklin Street Partners Limited Partnership, or the FSP Partnership, which was originally formed as a Massachusetts general partnership in January 1997 as the successor to a Massachusetts general partnership that was formed in 1981. On January 1, 2002, the FSP Partnership converted into FSP Corp., which we refer to as the conversion. As a result of this conversion, the FSP Partnership ceased to exist and we succeeded to the business of the FSP Partnership. In the conversion, each unit of both general and limited partnership interests in the FSP Partnership was converted into one share of our common stock.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 106M | 107M | 120M | 146M | 166M | 209M |
| Net Income | -33M | -45M | -53M | -48M | 1.1M | 93M |
| EPS | $-0.32 | $-0.43 | $-0.51 | $-0.47 | $0.01 | $0.87 |
| Free Cash Flow | -11M | -13M | -16M | -14M | -40M | -28M |
| ROIC | 0.0% | -7.1% | -7.7% | -6.5% | 1.9% | 10.8% |
| Gross Margin | - | 18.5% | 22.8% | 25.9% | 28.4% | 32.2% |
| Debt/Equity | 0.21 | 0.20 | 0.19 | 0.13 | 0.06 | 0.77 |
| Dividends/Share | $0.04 | $0.04 | $0.04 | $0.04 | $0.49 | $0.36 |
| Operating Income | 0 | -20M | -26M | -24M | 24M | 126M |
| Operating Margin | 0.0% | -18.7% | -21.7% | -16.1% | 14.6% | 60.0% |
| ROE | -5.5% | -7.1% | -7.7% | -6.5% | 0.1% | 12.0% |
| Shares Outstanding | 104M | 105M | 103M | 102M | 109M | 107M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 250M | 244M | 250M | 273M | 269M | 269M | 246M | 209M | 166M | 146M | 120M | 107M | 106M |
| Gross Margin | 35.9% | 36.3% | 35.7% | 35.8% | 37.6% | 38.3% | 35.5% | 32.2% | 28.4% | 25.9% | 22.8% | 18.5% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 13M | 13M | 14M | 13M | 13M | 14M | 15M | 16M | 14M | 14M | 14M | 12M | 12M |
| EBIT | 14M | 13M | 11M | 8.4M | 6.6M | 44M | 69M | 126M | 24M | -24M | -26M | -20M | 0 |
| Op. Margin | 5.8% | 5.4% | 4.3% | 3.1% | 2.5% | 16.2% | 28.0% | 60.0% | 14.6% | -16.1% | -21.7% | -18.7% | 0.0% |
| Net Income | 13M | 35M | 8.4M | -16M | 13M | 6.5M | 33M | 93M | 1.1M | -48M | -53M | -45M | -33M |
| Net Margin | 5.3% | 14.4% | 3.4% | -5.8% | 4.9% | 2.4% | 13.3% | 44.3% | 0.7% | -33.0% | -43.9% | -42.0% | -31.1% |
| Non-Recurring | 940K | 24M | -2.9M | -18M | 0 | 0 | 42M | 226M | 56M | 23M | 21M | 13M | 13M |
| Returns on Capital | |||||||||||||
| ROIC | 1.1% | 1.1% | 0.8% | 0.7% | 0.6% | 4.2% | 7.0% | 10.8% | 1.9% | -6.5% | -7.7% | -7.1% | 0.0% |
| ROE | 1.3% | 3.7% | 0.9% | -1.7% | 1.5% | 0.8% | 4.2% | 12.0% | 0.1% | -6.5% | -7.7% | -7.1% | -5.5% |
| ROA | 0.7% | 1.8% | 0.4% | -0.8% | 0.7% | 0.3% | 1.8% | 5.9% | 0.1% | -4.0% | -5.0% | -4.9% | -3.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 103M | 103M | 94M | 96M | 80M | 82M | 68M | 36M | 15M | 18M | 9.0M | 3.8M | 4.1M |
| Free Cash Flow | 85M | 81M | 57M | 42M | 29M | 11M | -9.5M | -28M | -40M | -14M | -16M | -13M | -11M |
| Owner Earnings | 5.2M | 9.5M | -865K | -7.8M | -17M | -12M | -23M | -45M | -51M | -40M | -39M | -42M | -42M |
| CapEx | 18M | 22M | 37M | 54M | 51M | 71M | 78M | 65M | 55M | 32M | 25M | 16M | 15M |
| Maint. CapEx | 98M | 93M | 95M | 104M | 97M | 94M | 92M | 81M | 66M | 57M | 48M | 45M | 45M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 98M | 93M | 95M | 104M | 97M | 94M | 92M | 81M | 66M | 57M | 48M | 45M | 45M |
| CapEx/OCF | 17.8% | 21.1% | 39.6% | 56.5% | 63.7% | 86.4% | 113.8% | 178.3% | 360.4% | 177.1% | 280.5% | N/A | 359.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 76M | 76M | 77M | 81M | 49M | 39M | 39M | 38M | 54M | 4.1M | 4.1M | 4.1M | 4.1M |
| Dividend Yield | 11.7% | 11.6% | 10.7% | 10.6% | 8.0% | 6.4% | 8.7% | 8.5% | 12.9% | 2.2% | 2.2% | N/A | 9.3% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18M | 4.8M | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.2% | 1.8% | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | 337K | 337K | 338K | 394K | 315K | 270K | 225K | 225K |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 260M | 272M | 271M | 268M | 188M | 189M | 197M | 566M | 44M | -36M | 81M | 92M | 102M |
| Cash & Equiv. | 7.5M | 18M | 9.3M | 9.8M | 11M | 9.8M | 2.6M | 34M | 3.7M | 126M | 41M | 31M | 24M |
| Long-Term Debt | N/A | N/A | N/A | 200M | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 126M |
| Debt/Equity | 0.27 | 0.31 | 0.29 | 0.32 | 0.24 | 0.25 | 0.26 | 0.77 | 0.06 | 0.13 | 0.19 | 0.20 | 0.21 |
| Interest Coverage | 0.5 | 0.5 | 0.4 | 0.3 | 0.2 | 1.2 | 1.9 | 3.9 | 1.1 | -1.0 | -1.0 | -0.8 | -0.8 |
| Equity | 980M | 936M | 962M | 871M | 838M | 786M | 768M | 783M | 769M | 713M | 656M | 607M | 596M |
| Total Assets | 1.9B | 1.9B | 2.1B | 2.0B | 1.9B | 1.8B | 1.8B | 1.4B | 1.2B | 1.2B | 947M | 893M | 882M |
| Total Liabilities | 957M | 983M | 1.1B | 1.1B | 1.1B | 1.1B | 1.0B | 581M | 473M | 457M | 291M | 286M | 285M |
| Intangibles | 139M | 108M | 125M | 87M | 60M | 41M | 28M | 15M | 10M | 6.7M | 4.2M | 2.5M | 2.1M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | 49M | 57M | 61M | 59M | 67M | 72M | 89M | 50M | 42M | 34M | 29M | 26M |
| Per Share Data | |||||||||||||
| EPS | 0.13 | 0.35 | 0.08 | -0.15 | 0.12 | 0.06 | 0.30 | 0.87 | 0.01 | -0.47 | -0.51 | -0.43 | -0.32 |
| Owner EPS | 0.05 | 0.09 | -0.01 | -0.07 | -0.16 | -0.11 | -0.22 | -0.42 | -0.46 | -0.39 | -0.38 | -0.40 | -0.40 |
| Book Value | 9.69 | 9.35 | 9.19 | 8.20 | 7.69 | 7.29 | 7.07 | 7.35 | 7.03 | 6.96 | 6.34 | 5.81 | 5.75 |
| Cash Flow/Share | 1.02 | 1.03 | 0.90 | 0.90 | 0.74 | 0.76 | 0.63 | 0.34 | 0.14 | 0.17 | 0.09 | 0.04 | 0.12 |
| Dividends/Share | 0.76 | 0.76 | 0.76 | 0.76 | 0.46 | 0.36 | 0.36 | 0.36 | 0.49 | 0.04 | 0.04 | 0.04 | 0.04 |
| Shares Out. | 101.1M | 100.0M | 104.7M | 106.3M | 108.9M | 107.9M | 108.7M | 106.6M | 109.4M | 102.4M | 103.4M | 104.6M | 103.7M |
| Valuation | |||||||||||||
| P/E Ratio | 52.5 | 17.3 | 98.1 | N/A | 36.6 | 103.0 | 11.4 | 6.1 | 247.3 | N/A | N/A | N/A | -1.4 |
| P/FCF | 8.1 | 7.5 | 14.4 | 18.2 | 16.4 | 59.7 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | 90.0 | 91.0 | 147.6 | 180.1 | 23.8 | 32.7 | 15.7 | 6.4 | 17.8 | N/A | N/A | N/A | N/A |
| Price/Book | 0.7 | 0.6 | 0.9 | 0.9 | 0.6 | 0.8 | 0.5 | 0.7 | 0.4 | 0.3 | 0.3 | N/A | 0.1 |
| Price/Sales | 2.6 | 2.7 | 2.9 | 2.8 | 2.3 | 2.2 | 1.8 | 2.2 | 2.5 | 1.3 | 1.6 | N/A | 0.4 |
| FCF Yield | 12.3% | 13.4% | 6.9% | 5.5% | 6.1% | 1.7% | -2.5% | -5.0% | -14.7% | -5.6% | -8.7% | N/A | -23.6% |
| Market Cap | 690M | 605M | 822M | 761M | 478M | 667M | 372M | 567M | 271M | 247M | 187M | 0 | 45M |
| Avg. Price | 6.45 | 6.56 | 6.91 | 7.21 | 5.66 | 5.61 | 4.08 | 4.24 | 3.81 | 1.83 | 1.85 | 0.00 | 0.43 |
| Year-End Price | 6.82 | 6.05 | 7.85 | 7.16 | 4.39 | 6.18 | 3.42 | 5.32 | 2.47 | 2.42 | 1.81 | 0.00 | 0.43 |
FRANKLIN STREET PROPERTIES CORP /MA/ passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 25.6%. Total shareholder yield (dividends) is 9.3%. At current prices, the estimated annualized return to fair value is -41.4%.
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) has a debt-to-equity ratio of 0.20. This indicates a conservatively financed balance sheet.
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) reported earnings per share (EPS) of $-0.43 in its most recent fiscal year.
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) has a return on equity (ROE) of -7.1%. A negative ROE may indicate losses or negative equity.
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) has a 5-year average gross margin of 25.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for FRANKLIN STREET PROPERTIES CORP /MA/ (FSP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) has a book value per share of $5.81, based on its most recent annual SEC filing.
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