Franklin Bsp Realty Trust Inc - Understand $fbrt stock

$FBRT Market Cap: $1.097 Billion

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Financial Snapshot

Revenue

$391.4M

TTM

Gross Margin

57.53%

TTM

Net Earnings

$82.03M

TTM

Current Assets

$206.4M

Q2 2024

Current Liabilities

$1.085B

Q2 2024

Current Ratio

19.01%

Q2 2024

Total Assets

$6.269B

Q2 2024

Total Liabilities

$4.636B

Q2 2024

Book Value

$1.634B

Q2 2024

Cash

$94.78M

Q2 2024

P/E

13.37

Sep 13, 2024 EST

Free Cash Flow

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue	$264.0M	$201.7M	$160.8M	$117.6M	$108.1M	$82.29M	$57.21M	$56.24M	$47.13M	$13.27M	$743.0K
YoY Change	30.89%	25.39%	36.73%	8.85%	31.31%	43.85%	1.72%	19.33%	255.12%	1686.0%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Revenue	$264.0M	$201.7M	$160.8M	$117.6M	$108.1M	$82.29M	$57.21M	$56.24M	$47.13M	$13.27M	$743.0K
Cost Of Revenue	$354.7M	$214.4M	$101.8M	$93.39M	$119.2M	$89.07M	$51.27M	$38.95M	$32.80M	$8.200M
Gross Profit	$218.8M	$154.4M	$109.8M	$106.8M	$117.5M	$74.26M	$43.18M	$40.21M	$26.60M	$7.300M
Gross Profit Margin	82.91%	76.58%	68.27%	90.79%	108.71%	90.25%	75.48%	71.51%	56.45%	55.01%

Selling, General & Admin Expense

Research & Development

Depreciation, Depletion & Amortization

SGA Expense to Gross Profit Ratio

R&D To Gross Profit Ratio

DDA To Gross Profit Ratio

Operating Expenses Total

Operating Profits/Loss

Operational Expenses

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Selling, General & Admin	$19.20M	$15.45M	$7.658M	$13.12M	$16.36M	$13.45M	$6.765M	$4.376M		$200.0K
YoY Change	24.3%	101.71%	-41.63%	-19.82%	21.69%	98.76%	54.59%
% of Gross Profit	8.77%	10.0%	6.98%	12.29%	13.93%	18.11%	15.67%	10.88%		2.74%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$8.412M	$5.329M	$2.107M	$2.233M	$0.00
YoY Change	57.85%	152.92%	-5.64%
% of Gross Profit	3.84%	3.45%	1.92%	2.09%	0.0%
Operating Expenses	$87.82M	$77.51M	$143.0M	$49.16M	$52.20M	$37.40M	$29.52M	$22.49M	$21.87M	$7.188M	$641.0K
YoY Change	13.3%	-45.78%	190.82%	-5.83%	39.56%	26.72%	31.25%	2.81%	204.31%	1021.37%
Operating Profit	$131.0M	$76.91M	-$33.17M	$57.63M	$65.26M	$36.86M	$13.67M	$17.72M	$4.726M	$112.0K
YoY Change	70.33%	-331.85%	-157.56%	-11.69%	77.05%	169.73%	-22.89%	274.99%	4119.64%

Interest Expenses

Interest Expenses To Operating Income %

Other Expense/Income

Interest & Other Expense/Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Interest Expense	$305.6M	$165.7M	$60.84M	$66.56M	$90.42M	$70.00M	$32.36M	$23.17M	$12.27M	$2.196M	$32.00K
YoY Change	84.41%	172.39%	-8.6%	-26.39%	29.17%	116.32%	39.67%	88.86%	458.65%	6762.5%
% of Operating Profit	233.25%	215.45%		115.49%	138.55%	189.91%	236.8%	130.74%	259.59%	1960.71%
Other Income/Expense, Net	-$34.38M	-$110.3M	$11.44M	-$15.78M	-$3.007M	-$3.370M	$715.0K	-$1.293M		$217.0K	$165.0K
YoY Change	-68.84%	-1064.14%	-172.54%	424.61%	-10.77%	-571.33%	-155.3%			31.52%

Income/Loss

Pretax Income

Income Tax

Net Profits/Loss

Pretax Income YoY Change

Income Tax Rate

Net Profits/Loss YoY Change

Basic EPS

Net Income To Revenue Ratio

Pretax & Net Income

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Pretax Income	$141.8M	$13.82M	$11.44M	-$15.78M	$32.56M	$8.018M	$6.315M	-$3.756M	-$318.0K	$5.624M	$102.0K
YoY Change	926.0%	20.74%	-172.54%	-148.45%	306.05%	26.97%	-268.13%	1081.13%	-105.65%	5413.73%
Income Tax	-$2.757M	-$399.0K	$3.599M	-$2.062M	$4.483M	$79.00K	$200.0K	$0.00	$0.00	$209.0K	$0.00
% Of Pretax Income	-1.94%	-2.89%	31.45%		13.77%	0.99%	3.17%			3.72%	0.0%
Net Earnings	$145.2M	$14.43M	$25.70M	$54.75M	$83.92M	$52.83M	$33.78M	$29.99M	$24.93M	$5.415M	$102.0K
YoY Change	906.27%	-43.85%	-53.05%	-34.77%	58.87%	56.38%	12.63%	20.28%	360.44%	5208.82%
Net Earnings / Revenue	55.02%	7.16%	15.98%	46.55%	77.67%	64.2%	59.05%	53.33%	52.91%	40.81%	13.73%
Basic Earnings Per Share	$1.42	-$0.38	-$0.18	$0.90	$1.60	$1.44	$1.06	$0.95	$1.03	$0.75	$0.19
Diluted Earnings Per Share	$1.42	-$0.38	-$0.18	$0.90	$1.60	$1.44	$1.06	$0.95	$1.03	$0.75	$0.19

Assets & Liabilities

Cash & Short-Term Investments

Cash & Equivalents

Cash To Operating Expenses Ratio

Inventory

Receivables

Total Short-Term Assets

Property, Plant And Equipment

Long-Term Investments

Total Long-Term Assets

Total Assets

Net Income To Total Assets Percentage

Accounts Payable

Short-Term Debt

Long Term Debt Due

Total Short-Term Liabilities

Long-Term Debt

Other Long-Term Liabilities

Total Long-Term Liabilities

Total Liabilities

Short-Term To Long-Term Debt Ratio

Short-Term Assets To Debt Ratio

Long-Term Debt To Net Income Ratio

Assets & Liabilities

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014
Cash & Short-Term Investments	$337.6M	$179.3M	$154.9M	$82.07M	$87.25M	$191.4M	$83.71M	$118.0M	$14.80M	$400.0K
YoY Change	88.27%	15.74%	88.77%	-5.93%	-54.41%	128.63%	-29.09%	697.62%	3600.0%
Cash & Equivalents	$337.6M	$179.3M	$154.9M	$82.07M	$87.25M	$191.4M	$83.71M	$118.0M	$14.80M	$400.0K
Short-Term Investments
Other Short-Term Assets	$19.21M	$15.80M	$13.60M	$8.538M	$5.322M	$4.235M	$4.007M	$1.916M	$700.0K	$3.800M
YoY Change	21.64%	16.18%	59.23%	60.43%	25.67%	5.69%	109.13%	173.71%	-81.58%
Inventory
Prepaid Expenses
Receivables	$97.66M	$76.56M	$282.5M	$113.8M	$105.6M	$86.47M	$57.24M	$6.356M	$6.700M	$2.900M
Other Receivables	$0.00	$0.00	$0.00	$0.00	$266.0K	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$454.5M	$271.7M	$451.0M	$204.5M	$198.5M	$282.1M	$145.0M	$126.3M	$22.20M	$7.100M
YoY Change	67.29%	-39.76%	120.58%	3.02%	-29.65%	94.61%	14.75%	469.01%	212.68%
Property, Plant & Equipment	$158.6M	$182.6M	$140.6M	$42.58M	$58.25M
YoY Change	-13.13%	29.88%	230.2%	-26.9%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$242.6M	$456.8M	$4.567B
YoY Change	-46.89%	-90.0%
Other Assets	$6.092M	$11.17M	$13.27M	$10.07M	$21.88M	$13.03M	$7.997M	$5.021M	$5.400M	$100.0K
YoY Change	-45.48%	-15.8%	31.78%	-53.97%	67.9%	62.92%	59.27%	-7.02%	5300.0%
Total Long-Term Assets	$5.501B	$5.932B	$9.024B	$2.985B	$3.342B	$2.324B	$1.439B	$1.122B	$1.260B	$507.1M
YoY Change	-7.27%	-34.26%	202.27%	-10.68%	43.81%	61.53%	28.25%	-10.99%	148.53%
Total Assets	$5.955B	$6.204B	$9.475B	$3.190B	$3.541B	$2.606B	$1.584B	$1.248B	$1.283B	$514.2M
YoY Change
Accounts Payable	$13.34M	$17.67M	$12.71M	$5.125M	$10.93M	$4.497M	$4.510M	$1.170M	$6.800M	$2.400M
YoY Change	-24.5%	39.06%	147.9%	-53.09%	142.94%	-0.29%	285.47%	-82.79%	183.33%
Accrued Expenses	$15.38M	$19.14M	$2.692M	$2.110M	$11.09M	$3.025M	$1.544M	$897.0K	$800.0K	$200.0K
YoY Change	-19.64%	611.11%	27.58%	-80.98%	266.74%	95.92%	72.13%	12.13%	300.0%
Deferred Revenue
YoY Change
Short-Term Debt	$473.8M	$1.121B	$5.198B	$463.2M	$646.9M	$194.0M	$104.7M	$324.3M	$323.5M	$176.4M
YoY Change	-57.73%	-78.44%	1022.35%	-28.4%	233.49%	85.23%	-67.71%	0.25%	83.39%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$557.9M	$1.209B	$5.262B	$495.6M	$680.6M	$210.6M	$121.1M	$336.0M	$341.0M	$183.7M
YoY Change	-53.87%	-77.01%	961.64%	-27.18%	223.24%	73.85%	-63.96%	-1.46%	85.63%
Long-Term Debt	$3.709B	$3.321B	$2.373B	$1.686B	$1.833B	$1.515B	$851.8M	$278.5M	$287.2M	$0.00
YoY Change	11.68%	39.97%	40.72%	-7.99%	20.94%	77.87%	205.92%	-3.05%
Other Long-Term Liabilities	$12.30M	$64.00K	$32.30M	$403.0K	$1.581M	$1.319M	$357.0K
YoY Change	19114.06%	-99.8%	7913.65%	-74.51%	19.86%	269.47%
Total Long-Term Liabilities	$3.721B	$3.321B	$2.405B	$1.686B	$1.834B	$1.517B	$852.2M	$278.5M	$287.2M	$0.00
YoY Change	12.05%	38.09%	42.61%	-8.05%	20.94%	77.95%	206.05%	-3.05%
Total Liabilities	$4.306B	$4.546B	$7.672B	$2.182B	$2.515B	$1.727B	$973.3M	$614.5M	$628.2M	$183.7M
YoY Change	-5.27%	-40.75%	251.61%	-13.23%	45.61%	77.44%	58.4%	-2.18%	241.97%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013
Basic Shares Outstanding	82.31M shares	71.63M shares	43.42M shares	44.38M shares	41.86M shares	34.27M shares	31.77M shares	31.66M shares	24.25M shares	7.227M shares	526.1K shares
Diluted Shares Outstanding	82.31M shares	71.63M shares	43.43M shares	44.40M shares	41.87M shares	36.78M shares	31.78M shares	31.67M shares	24.26M shares	7.233M shares	530.1K shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Dividends

Stock Price

Market Cap: $1.0965 Billion

About Franklin BSP Realty Trust Inc

Franklin BSP Realty Trust, Inc. operates as a real estate finance company. The company is headquartered in New York City, New York. The company went IPO on 2021-10-19. The firm primarily originates, acquires, and manages a diversified portfolio of commercial real estate debt investments secured by properties located within and outside the United States. Its investment objective is to provide its common shareholders attractive, risk-adjusted returns through a stable dividend and capital growth. The company operates through four segments: the real estate debt business, the real estate securities business, the conduit business, and the real estate-owned business. The firm invests in commercial real estate debt investments, which include first mortgage loans, subordinated mortgage loans, mezzanine loans and participations in such loans. The firm also originates conduit loans that intend to sell through its taxable REIT subsidiary (TRS) into commercial mortgage-backed securities securitization transactions. The investment advisor of the Company is Benefit Street Partners L.L.C.

Industry: Real Estate Investment Trusts Peers: MFA Financial Inc Annaly Capital Management Inc Brightspire Capital Inc Ellington Financial Inc KKR Real Estate Finance Trust Inc Ladder Capital Corp New York Mortgage Trust Inc PennyMac Mortgage Investment Trust Ready Capital Corp Two Harbors Investment Corp