Franklin Street Properties Corp - Understand $fsp stock

$FSP Market Cap: $193.7 Million

Research Board Inbox Deep Research Not Interested Shortlisted

Financial Snapshot

Revenue

$126.5M

TTM

Gross Margin

54.04%

TTM

Net Earnings

-$25.00M

TTM

Current Assets

Current Liabilities

Current Ratio

Total Assets

$981.5M

Q3 2024

Total Liabilities

$316.1M

Q3 2024

Book Value

$665.4M

Q3 2024

Cash

$40.86M

Q3 2024

P/E

-7.747

Nov 13, 2024 EST

Free Cash Flow

-$20.28M

TTM

Revenues

Revenue YoY Change

Revenues

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Revenue	$145.7M	$165.6M	$209.4M	$245.8M	$269.1M	$268.9M	$272.6M	$249.9M	$243.9M	$249.7M	$213.6M	$161.6M	$138.0M	$115.8M	$128.4M	$120.4M	$127.0M	$114.4M	$96.40M	$100.1M	$80.70M	$53.70M
YoY Change	-12.02%	-20.89%	-14.84%	-8.63%	0.07%	-1.36%	9.08%	2.47%	-2.34%	16.88%	32.22%	17.05%	19.2%	-9.81%	6.64%	-5.2%	11.01%	18.67%	-3.7%	24.04%	50.28%

Expenses

Cost Of Revenues

Gross Profit

Gross Profit Margin

Gross Profit

Concept	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Revenue	$145.7M	$165.6M	$209.4M	$245.8M	$269.1M	$268.9M	$272.6M	$249.9M	$243.9M	$249.7M	$213.6M	$161.6M	$138.0M	$115.8M	$128.4M	$120.4M	$127.0M	$114.4M	$96.40M	$100.1M	$80.70M	$53.70M
Cost Of Revenue	$50.73M	$52.82M	$60.88M	$66.94M	$72.31M	$70.70M	$71.21M	$105.5M	$100.6M	$62.00M	$51.10M	$37.40M	$36.70M	$33.60M	$30.80M	$29.00M	$26.20M	$20.80M	$17.40M	$14.80M	$10.50M	$5.700M
Gross Profit	$94.98M	$112.8M	$148.5M	$178.9M	$196.8M	$198.2M	$201.4M	$144.4M	$143.3M	$187.7M	$162.5M	$125.4M	$102.8M	$89.50M	$97.60M	$91.40M	$100.8M	$93.50M	$79.00M	$85.20M	$70.20M	$48.00M
Gross Profit Margin	65.18%	68.11%	70.92%	72.77%	73.13%	73.7%	73.88%	57.79%	58.77%	75.17%	76.06%	77.61%	74.47%	77.29%	76.01%	75.91%	79.37%	81.73%	81.95%	85.11%	86.99%	89.39%

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	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Selling, General & Admin	$14.02M	$13.89M	$15.90M	$15.00M	$14.47M	$13.07M	$13.47M	$14.13M	$13.29M	$49.80M	$11.91M	$9.916M	$6.855M	$6.399M	$29.90M	$28.20M	$29.00M	$27.30M	$22.60M	$22.10M	$19.30M	$15.30M
YoY Change	0.98%	-12.66%	6.01%	3.62%	10.73%	-2.98%	-4.64%	6.28%	-73.31%	318.1%	20.12%	44.65%	7.13%	-78.6%	6.03%	-2.76%	6.23%	20.8%	2.26%	14.51%	26.14%
% of Gross Profit	14.76%	12.31%	10.71%	8.38%	7.36%	6.6%	6.69%	9.78%	9.27%	26.53%	7.33%	7.91%	6.67%	7.15%	30.64%	30.85%	28.77%	29.2%	28.61%	25.94%	27.49%	31.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$57.24M	$65.70M	$81.04M	$91.58M	$93.79M	$97.17M	$103.7M	$95.24M	$93.43M	$97.90M	$81.27M	$57.50M	$50.26M	$39.63M	$36.60M	$30.40M	$30.60M	$25.00M	$17.90M	$13.00M	$9.500M	$4.900M
YoY Change	-12.87%	-18.93%	-11.51%	-2.35%	-3.48%	-6.33%	8.92%	1.94%	-4.57%	20.47%	41.33%	14.4%	26.84%	8.27%	20.39%	-0.65%	22.4%	39.66%	37.69%	36.84%	93.88%
% of Gross Profit	60.27%	58.24%	54.58%	51.19%	47.67%	49.03%	51.52%	65.95%	65.19%	52.16%	50.01%	45.85%	48.89%	44.28%	37.5%	33.26%	30.36%	26.74%	22.66%	15.26%	13.53%	10.21%
Operating Expenses	$68.76M	$77.69M	$94.44M	$103.6M	$105.4M	$107.3M	$114.7M	$107.2M	$104.6M	$145.8M	$11.91M	$9.916M	$6.855M	$6.399M	$66.20M	$58.50M	$58.30M	$50.20M	$38.40M	$35.80M	$28.80M	$20.00M
YoY Change	-11.5%	-17.73%	-8.8%	-1.73%	-1.79%	-6.48%	7.05%	2.42%	-28.22%	1124.08%	20.12%	44.65%	7.13%	-90.33%	13.16%	0.34%	16.14%	30.73%	7.26%	24.31%	44.0%
Operating Profit	$26.22M	$35.10M	$54.04M	$75.35M	$91.37M	$90.87M	$86.65M	$37.24M	$38.67M	$41.90M	$19.12M	$21.20M	$15.92M	$16.66M	$31.40M	$32.90M	$42.50M	$43.30M	$40.60M	$49.40M	$41.40M	$28.00M
YoY Change	-25.31%	-35.04%	-28.29%	-17.53%	0.56%	4.87%	132.7%	-3.7%	-7.72%	119.19%	-9.83%	33.2%	-4.43%	-46.96%	-4.56%	-22.59%	-1.85%	6.65%	-17.81%	19.32%	47.86%

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	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Interest Expense	$24.32M	$22.81M	$32.27M	$36.03M	$36.76M	$38.37M	$32.39M	-$27.38M	-$26.88M	-$29.20M	$21.05M	$16.07M	$12.67M	$7.284M	-$4.500M	-$1.400M	-$5.800M	$1.400M	$0.00	$0.00	$100.0K	-$600.0K
YoY Change	6.62%	-29.33%	-10.42%	-1.99%	-4.21%	18.49%	-218.29%	1.85%	-7.94%	-238.69%	31.03%	26.86%	73.89%	-261.87%	221.43%	-75.86%	-514.29%			-100.0%	-116.67%
% of Operating Profit	92.76%	64.98%	59.73%	47.81%	40.23%	42.23%	37.38%	-73.53%	-69.52%	-69.69%	110.14%	75.79%	79.58%	43.73%	-14.33%	-4.26%	-13.65%	3.23%	0.0%	0.0%	0.24%	-2.14%
Other Income/Expense, Net					$0.00	$0.00	-$1.878M	$1.878M
YoY Change						-100.0%	-200.0%

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	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002
Pretax Income	-$47.83M	$1.298M	$92.93M	$32.87M	$6.744M	$6.636M	-$11.94M	$8.796M	$35.45M	$13.60M	$17.80M	$23.70M	$18.20M	$18.10M	$26.90M	$31.50M	$36.80M	$44.80M	$40.50M	$49.50M	$47.90M	$27.40M
YoY Change	-3784.98%	-98.6%	182.77%	387.32%	1.63%	-155.58%	-235.74%	-75.19%	160.64%	-23.6%	-24.89%	30.22%	0.55%	-32.71%	-14.6%	-14.4%	-17.86%	10.62%	-18.18%	3.34%	74.82%
Income Tax	$279.0K	$204.0K	$638.0K	$250.0K	$269.0K	$360.0K	$400.0K	$418.0K	$433.0K	$500.0K	$480.0K	$335.0K	$267.0K	$217.0K	-$600.0K	-$500.0K	$600.0K	$800.0K	$400.0K	$1.700M	$1.700M	$700.0K
% Of Pretax Income		15.72%	0.69%	0.76%	3.99%	5.42%		4.75%	1.22%	3.68%	2.7%	1.41%	1.47%	1.2%	-2.23%	-1.59%	1.63%	1.79%	0.99%	3.43%	3.55%	2.55%
Net Earnings	-$48.11M	$1.094M	$92.72M	$32.62M	$6.475M	$13.07M	-$15.94M	$8.378M	$35.01M	$13.10M	$19.80M	$7.600M	$43.50M	$22.10M	$27.90M	$32.00M	$61.10M	$110.9M	$75.10M	$47.80M	$46.40M	$27.30M
YoY Change	-4497.62%	-98.82%	184.28%	403.71%	-50.46%	-181.97%	-290.31%	-76.07%	167.28%	-33.84%	160.53%	-82.53%	96.83%	-20.79%	-12.81%	-47.63%	-44.91%	47.67%	57.11%	3.02%	69.96%
Net Earnings / Revenue	-33.02%	0.66%	44.29%	13.27%	2.41%	4.86%	-5.85%	3.35%	14.36%	5.25%	9.27%	4.7%	31.51%	19.08%	21.73%	26.58%	48.11%	96.94%	77.9%	47.75%	57.5%	50.84%
Basic Earnings Per Share	-$0.47	$0.01	$0.87	$0.30	$0.06
Diluted Earnings Per Share	-$0.47	$0.01	$0.87	$0.30	$0.06	$121.9K	-$148.7K	$81.46K	$349.5K	$130.7K	$210.9K	$91.68K	$531.1K	$276.9K	$382.2K	$453.9K	$864.2K	$1.650M	$1.322M	$963.7K	$1.184M	$1.110M

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	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003
Cash & Short-Term Investments	$125.5M	$3.739M	$34.31M	$4.150M	$9.790M	$11.18M	$9.773M	$9.335M	$18.16M	$7.500M	$19.60M	$21.30M	$23.80M	$68.20M	$27.40M	$29.20M	$47.00M	$70.00M	$69.70M	$52.80M	$58.80M
YoY Change	3257.31%	-89.1%	726.7%	-57.61%	-12.41%	14.37%	4.69%	-48.6%	142.17%	-61.73%	-7.98%	-10.5%	-65.1%	148.91%	-6.16%	-37.87%	-32.86%	0.43%	32.01%	-10.2%
Cash & Equivalents	$125.5M	$3.739M	$34.31M	$4.150M	$9.790M	$11.18M	$9.773M	$9.335M	$18.16M	$7.500M	$19.60M	$21.30M	$23.80M	$68.20M	$27.40M	$29.20M	$47.00M	$70.00M	$69.70M	$52.80M	$58.80M
Short-Term Investments
Other Short-Term Assets	$3.939M	$5.976M	$2.931M	$4.352M	$5.446M	$10.40M	$8.387M	$5.231M	$5.484M	$10.30M	$10.50M	$1.100M	$1.200M	$1.700M	$2.600M	$2.200M	$1.400M	$1.000M	$800.0K	$900.0K	$800.0K
YoY Change	-34.09%	103.89%	-32.65%	-20.09%	-47.63%	24.0%	60.33%	-4.61%	-46.76%	-1.9%	854.55%	-8.33%	-29.41%	-34.62%	18.18%	57.14%	40.0%	25.0%	-11.11%	12.5%
Inventory
Prepaid Expenses
Receivables	$42.59M	$54.94M	$50.98M	$75.45M	$70.73M	$57.94M	$56.32M	$54.04M	$51.40M	$145.4M	$147.1M	$131.1M	$170.5M	$78.40M	$49.10M	$11.30M	$8.900M	$7.200M	$7.200M	$5.700M	$5.000M
Other Receivables	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Total Short-Term Assets	$172.1M	$64.66M	$88.22M	$83.95M	$85.97M	$79.52M	$74.48M	$68.61M	$75.05M	$163.2M	$177.2M	$153.5M	$195.5M	$148.3M	$79.10M	$42.70M	$57.30M	$78.20M	$77.70M	$59.40M	$64.60M
YoY Change	166.12%	-26.71%	5.09%	-2.35%	8.11%	6.77%	8.55%	-8.58%	-54.02%	-7.9%	15.44%	-21.48%	31.83%	87.48%	85.25%	-25.48%	-26.73%	0.64%	30.81%	-8.05%
Property, Plant & Equipment	$891.2M	$1.104B	$1.192B	$1.604B	$1.639B	$1.626B	$1.633B	$1.686B	$1.510B	$1.742B	$1.833B	$1.255B	$1.098B	$908.7M	$967.0M	$872.9M	$824.3M	$847.0M	$583.9M	$446.6M	$457.9M
YoY Change	-19.28%	-7.39%	-25.65%	-2.17%	0.81%	-0.43%	-3.12%	11.62%	-13.32%	-4.95%	46.03%	14.29%	20.86%	-6.03%	10.78%	5.9%	-2.68%	45.06%	30.74%	-2.47%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments									$77.02M			$82.00M	$87.60M	$89.30M	$92.90M	$83.00M	$85.70M	$10.20M	$5.000M	$4.300M	$0.00
YoY Change												-6.39%	-1.9%	-3.88%	11.93%	-3.15%	740.2%	104.0%	16.28%
Other Assets	$99.33M	$38.60M	$44.75M	$56.45M	$52.77M	$47.59M	$40.73M	$38.60M	$29.02M	$27.90M	$28.50M	$24.00M	$23.10M	$88.70M	$11.10M	$11.20M	$9.500M	$13.80M	$9.400M	$2.500M	$2.000M
YoY Change	157.32%	-13.75%	-20.72%	6.98%	10.88%	16.86%	5.51%	33.0%	4.02%	-2.11%	18.75%	3.9%	-73.96%	699.1%	-0.89%	17.89%	-31.16%	46.81%	276.0%	25.0%
Total Long-Term Assets	$997.3M	$1.177B	$1.276B	$1.709B	$1.757B	$1.819B	$1.916B	$2.020B	$1.844B	$1.773B	$1.867B	$1.374B	$1.213B	$1.090B	$1.077B	$982.7M	$946.2M	$877.1M	$599.5M	$513.7M	$463.9M
YoY Change	-15.27%	-7.75%	-25.35%	-2.7%	-3.4%	-5.09%	-5.12%	9.52%	3.99%	-5.01%	35.9%	13.23%	11.26%	1.27%	9.57%	3.86%	7.88%	46.31%	16.7%	10.74%
Total Assets	$1.169B	$1.242B	$1.364B	$1.793B	$1.843B	$1.898B	$1.991B	$2.088B	$1.919B	$1.936B	$2.044B	$1.527B	$1.409B	$1.239B	$1.156B	$1.025B	$1.004B	$955.3M	$677.2M	$573.1M	$528.5M
YoY Change
Accounts Payable	$41.88M	$50.37M	$89.49M	$72.06M	$66.66M	$59.18M	$61.04M	$57.26M	$49.49M	$42.60M	$44.10M	$31.10M	$26.40M	$22.40M	$23.80M	$22.30M	$20.30M	$25.30M	$11.60M	$8.800M	$5.000M
YoY Change	-16.85%	-43.72%	24.2%	8.1%	12.63%	-3.04%	6.6%	15.7%	16.17%	-3.4%	41.8%	17.8%	17.86%	-5.88%	6.73%	9.85%	-19.76%	118.1%	31.82%	76.0%
Accrued Expenses	$3.978M	$4.403M	$5.863M	$5.454M	$5.290M	$3.043M	$3.641M	$3.784M	$3.726M	$3.800M	$3.000M	$2.500M	$2.200M	$1.800M	$1.400M	$1.700M	$1.600M	$2.600M	$1.900M	$700.0K	$1.500M
YoY Change	-9.65%	-24.9%	7.5%	3.1%	73.84%	-16.42%	-3.78%	1.56%	-1.95%	26.67%	20.0%	13.64%	22.22%	28.57%	-17.65%	6.25%	-38.46%	36.84%	171.43%	-53.33%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$616.8M	$449.0M	$284.8M	$184.0M	$142.5M	$84.80M	$0.00	$0.00	$59.40M	$4.100M
YoY Change											-100.0%	37.37%	57.65%	54.78%	29.12%	68.04%			-100.0%	1348.78%
Long-Term Debt Due				$155.0M
YoY Change
Total Short-Term Liabilities	$52.06M	$60.48M	$101.6M	$241.2M	$81.29M	$68.55M	$70.06M	$66.40M	$58.04M	$50.60M	$51.10M	$652.9M	$479.6M	$310.9M	$211.0M	$168.4M	$108.6M	$29.60M	$14.80M	$69.90M	$11.60M
YoY Change	-13.92%	-40.46%	-57.89%	196.69%	18.6%	-2.17%	5.52%	14.39%	14.71%	-0.98%	-92.17%	36.13%	54.26%	47.35%	25.3%	55.06%	266.89%	100.0%	-78.83%	502.59%
Long-Term Debt	$404.4M	$412.3M	$473.6M	$765.0M	$964.7M	$988.1M	$1.042B	$1.045B	$907.6M	$888.0M	$926.5M	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
YoY Change	-1.91%	-12.96%	-38.09%	-20.7%	-2.37%	-5.13%	-0.35%	15.16%	2.21%	-4.16%
Other Long-Term Liabilities	$87.00K	$195.0K	$5.767M	$18.90M	$10.22M	$3.795M	$7.564M	$14.47M	$17.67M	$18.20M	$16.20M	$9.500M	$7.600M	$6.200M	$7.500M	$8.100M	$4.400M	$3.700M	$800.0K	$0.00
YoY Change	-55.38%	-96.62%	-69.49%	85.03%	169.2%	-49.83%	-47.74%	-18.08%	-2.92%	12.35%	70.53%	25.0%	22.58%	-17.33%	-7.41%	84.09%	18.92%	362.5%
Total Long-Term Liabilities	$404.5M	$412.5M	$479.4M	$783.9M	$975.0M	$991.9M	$1.049B	$1.060B	$925.3M	$906.2M	$942.7M	$9.500M	$7.600M	$6.200M	$7.500M	$8.100M	$4.400M	$3.700M	$800.0K	$0.00	$0.00
YoY Change	-1.94%	-13.96%	-38.85%	-19.6%	-1.71%	-5.46%	-0.99%	14.52%	2.11%	-3.87%	9823.16%	25.0%	22.58%	-17.33%	-7.41%	84.09%	18.92%	362.5%
Total Liabilities	$456.5M	$472.9M	$581.0M	$1.025B	$1.056B	$1.060B	$1.119B	$1.126B	$983.4M	$956.7M	$993.9M	$662.4M	$487.3M	$317.2M	$218.5M	$176.4M	$112.8M	$33.40M	$15.60M	$70.00M	$11.70M
YoY Change	-3.47%	-18.6%	-43.33%	-2.95%	-0.4%	-5.25%	-0.61%	14.51%	2.79%	-3.74%	50.05%	35.93%	53.63%	45.17%	23.87%	56.38%	237.72%	114.1%	-77.71%	498.29%

Ownership

Basic Shares Outstanding

Diluted Shares Outstanding

Preferred Stock

Treasury Stock Shares

Stock Issuance & Repurchase

Ownership Data

Concept	2023	2022	2021	2020	2019
Basic Shares Outstanding	103.4M	103.3M	106.7M	107.3M	107.2M
Diluted Shares Outstanding	103.4M	103.3M	106.7M	107.3M	107.2M
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

Book Value

Free Cash Flow

Free Cash Flow YoY

Free Cash Flow Margin

Dividends

Stock Price

Market Cap: $193.67 Million

About Franklin Street Properties Corp

Franklin Street Properties Corp. is an investment company, which engages in the operation of real estate. The company is headquartered in Wakefield, Massachusetts and currently employs 28 full-time employees. The company went IPO on 2005-06-02. The firm is focused on commercial real estate investments primarily in office markets. The firm operates through the real estate operations segment. The firm's investment objectives are to create shareholder value by increasing revenue from rental, dividend, interest and fee income and net gains from sales of properties and increase the cash available for distribution in the form of dividends to its stockholders. Its real estate operations market involves real estate rental operations, leasing, secured financing of real estate and services provided for asset management, property management, property acquisitions, dispositions and development. The company owns and operates a portfolio of real estate consisting of approximately 18 properties. The firm's portfolios are located in Dallas, Denver, Houston and Minneapolis.

Industry: Real Estate Investment Trusts Peers: Alexandria Real Estate Equities Inc Veris Residential Inc Creative Media & Community Trust Corporation Office Properties Income Trust KBS Real Estate Investment Trust III, Inc. Orion Office REIT Inc Postal Realty Trust Inc