Revenue
$107.16M
Fiscal year ended 2025-12-31Operating income
Unavailable
Fiscal year ended 2025-12-31Free cash flow
-$12.66M
Fiscal year ended 2025-12-31Valuation, from the filing
| Public float | $155.30M | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $1.50 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / revenue | 1.4× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 0.3× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
How this compares in its industry
Percentile among the Real Estate Investment Trusts filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| SBC / revenue | 0.2% | 4th | |
| Revenue YoY growth | -10.8% | 9th | |
| FCF margin | -11.8% | 17th | |
| CapEx / revenue | 15.3% | 67th | |
| Gross margin | 60.8% | 40th |
FRANKLIN STREET PROPERTIES CORP /MA/ (FSP) reported revenue of $107.16M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from FRANKLIN STREET PROPERTIES CORP /MA/’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Real Estate Investment Trusts.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $107.16M | $120.11M | $145.71M | $165.62M | $209.36M | $245.85M | $269.06M | $268.87M | $272.59M | $249.89M |
| Cost of revenue | $42.04M | $45.04M | $50.73M | $52.82M | $60.88M | $66.94M | $72.31M | $70.70M | $71.21M | Unavailable |
| Gross profit | $65.12M | $75.07M | $94.98M | $112.80M | $148.48M | $178.91M | $196.75M | $198.17M | $201.38M | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $6.64M | $8.42M | $10.69M |
| Net income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 103.64M | shares 103.51M | shares 103.36M | shares 103.34M | shares 106.67M | shares 107.30M | shares 107.23M | Unavailable | Unavailable | Unavailable |
| Pretax income | -$44.77M | -$52.51M | -$47.83M | $1.30M | $92.93M | $32.86M | $6.74M | $6.64M | -$11.94M | $8.80M |
| Income tax expense | $189.00K | $216.00K | $279.00K | $204.00K | $638.00K | $250.00K | $269.00K | $360.00K | $400.00K | $418.00K |
| Diluted EPS | $-0.43 | $-0.51 | $-0.47 | $0.01 | $0.87 | $0.30 | $0.06 | Unavailable | Unavailable | Unavailable |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $14.13M |
| General & administrative | $12.43M | $13.88M | $14.02M | $13.88M | $15.90M | $15.00M | $14.47M | $13.07M | $13.47M | $14.13M |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $30.57M | $41.12M | $125.53M | $3.74M | $34.31M | $2.65M | $9.79M | $11.18M | $9.77M | $9.34M |
| Total assets | $892.88M | $946.93M | $1.17B | $1.24B | $1.36B | $1.79B | $1.84B | $1.90B | $1.99B | $2.09B |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $285.91M | $291.07M | $456.52M | $472.93M | $580.97M | $1.03B | $1.06B | $1.06B | $1.12B | $1.13B |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $606.98M | $655.86M | $712.80M | $768.74M | $783.20M | $768.09M | $786.40M | $837.63M | $871.29M | $962.04M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | $471.00K | $1.28M | $2.19M | $2.20M | $1.95M | $7.66M | $3.85M | $3.94M | $3.12M | $3.11M |
| Goodwill | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $3.75M | $8.99M | $17.87M | $15.23M | $36.36M | $68.45M | $81.92M | $80.20M | $95.94M | $94.38M |
| Capital expenditures | $16.42M | $25.21M | $31.64M | $54.91M | $64.83M | $77.92M | $70.75M | $51.06M | $54.19M | $37.41M |
| Investing cash flow | -$10.31M | $70.28M | $113.64M | $74.04M | $505.47M | $11.04M | -$19.62M | $25.64M | -$5.09M | -$244.97M |
| Financing cash flow | -$5.56M | -$164.47M | -$10.25M | -$123.39M | -$505.24M | -$85.13M | -$63.69M | -$104.49M | -$90.40M | $141.77M |
| Net change in cash | -$12.11M | -$85.20M | $121.25M | -$34.12M | $36.60M | -$5.64M | -$1.39M | $1.36M | $453.00K | -$8.82M |
| Stock-based compensation | $225.00K | $270.00K | $315.00K | $394.00K | $338.00K | $337.00K | $337.00K | Unavailable | Unavailable | Unavailable |
| Common dividends paid | $4.14M | $4.14M | $4.13M | $53.99M | $38.49M | $38.63M | $38.60M | $49.33M | $81.50M | $77.48M |
| Common share repurchases | Unavailable | Unavailable | Unavailable | $4.84M | $18.24M | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | $45.33M | $47.74M | $57.24M | $65.70M | $81.04M | $91.58M | $93.79M | $97.17M | $103.74M | $95.24M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | -$12.66M | -$16.23M | -$13.77M | -$39.68M | -$28.47M | -$9.47M | $11.17M | $29.14M | $41.76M | $56.97M |
| Gross margin | 60.8% | 62.5% | 65.2% | 68.1% | 70.9% | 72.8% | 73.1% | 73.7% | 73.9% | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 4.3% |
| FCF margin | -11.8% | -13.5% | -9.5% | -24.0% | -13.6% | -3.9% | 4.2% | 10.8% | 15.3% | 22.8% |
| SBC / revenue | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | Unavailable | Unavailable | Unavailable |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | -10.8% | -17.6% | -12.0% | -20.9% | -14.8% | -8.6% | 0.1% | -1.4% | 9.1% | Unavailable |
| Net margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | 15.3% | 21.0% | 21.7% | 33.2% | 31.0% | 31.7% | 26.3% | 19.0% | 19.9% | 15.0% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | Unavailable | 15.7% | 0.7% | 0.8% | 4.0% | 5.4% | Unavailable | 4.8% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open FSP in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-10-27View SEC filing
10-Q · Filed 2026-07-28View SEC filing
10-Q · Filed 2026-04-28View SEC filing
10-K · Filed 2026-03-09View SEC filing
10-Q · Filed 2025-10-28View SEC filing
10-Q · Filed 2025-07-29View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.