FBRT

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Franklin BSP Realty Trust, Inc.

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Key Metrics

Previous Close: $8.09
52-Week Range: $7.35 – $11.84
Market Cap: $670.18M
P/E (TTM): 18.77
EPS (TTM): 0.43
Dividend Yield: 13.72%

Advanced Metrics

Price/Book: 0.55
PEG Ratio: —
Return on Equity: 4.12%
Return on Assets: 1.07%
Gross Margin: 99.64%
Operating Margin: 8.55%
Profit Margin: 21.38%
Current Ratio: 1.40
Debt/Equity: 2.70
Total Debt: $4.19B
Free Cash Flow: —
Revenue Growth: 14.20%
Earnings Growth: -36.80%
Enterprise Value: $5.14B

FBRT Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$367.36M	$569.53M	$548.92M	$501.00M
Cost of Revenue	$160.53M	$305.58M	$338.47M	$288.33M
Gross Profit	$206.83M	$263.95M	$210.45M	$212.67M
Selling, General & Admin	$64.17M	$68.32M	$58.35M	$129.91M
Operating Expenses	$105.69M	$109.18M	$99.67M	$127.65M
Operating Income	$101.14M	$154.77M	$110.78M	$85.02M
EBITDA	$106.55M	$163.18M	$116.41M	$94.61M
Pretax Income	$13.82M	$141.75M	$93.52M	$87.97M
Income Tax	-$399.00K	-$2.76M	$1.12M	$3.88M
Net Income	$14.43M	$145.22M	$95.88M	$82.27M
Diluted EPS	-0.38	1.42	0.82	0.64
Diluted Shares	71.63M	82.31M	81.85M	86.19M

FBRT Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$179.31M	$337.60M	$184.44M	$167.29M
Receivables	$5.32B	$5.09B	$5.20B	$4.85B
Current Assets	$5.75B	$5.43B	$5.39B	$5.04B
Total Assets	$6.20B	$5.96B	$6.00B	$6.06B
Current Liabilities	$522.14M	$270.52M	$303.88M	$273.36M
Long-Term Debt	$4.00B	$4.01B	$4.08B	$4.06B
Total Debt	$4.45B	$4.18B	$4.31B	$4.25B
Total Liabilities	$4.63B	$4.37B	$4.48B	$4.53B
Retained Earnings	-$299.23M	-$298.94M	-$348.07M	-$411.10M
Shareholders' Equity	$1.56B	$1.56B	$1.51B	$1.44B
Working Capital	$5.23B	$5.16B	$5.09B	$4.77B
Net Debt	$4.26B	$3.85B	$4.13B	$4.08B

FBRT Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$152.51M	$197.39M	$57.23M	$291.94M
Capital Expenditure	—	—	—	-$360.00K
Free Cash Flow	$152.51M	$197.39M	$57.23M	$291.58M
Depreciation & Amortisation	$5.33M	$8.41M	$5.63M	$9.59M
Stock-Based Compensation	$2.52M	$4.76M	$8.17M	$9.12M
Investing Cash Flow	$3.10B	$380.81M	-$155.47M	$380.81M
Financing Cash Flow	-$3.23B	-$424.99M	-$48.58M	-$684.43M
Dividends Paid	-$139.41M	-$144.35M	-$144.91M	-$145.58M
Share Repurchases	-$16.58M	-$12.51M	-$4.87M	-$14.37M
Net Change in Cash	$22.29M	$153.20M	-$146.82M	-$11.68M

FBRT Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$119.51M	$136.74M	$124.05M	$116.42M	$116.30M
Cost of Revenue	$70.21M	$76.49M	$71.03M	$65.23M	$67.26M
Gross Profit	$49.29M	$60.25M	$53.02M	$51.19M	$49.04M
Selling, General & Admin	$16.43M	$55.54M	$39.20M	$42.90M	$38.66M
Operating Expenses	$16.33M	$58.41M	$34.71M	$57.71M	$47.88M
Operating Income	$32.97M	$1.84M	$18.31M	-$6.52M	$1.16M
EBITDA	$34.35M	$5.28M	$21.71M	-$3.10M	$3.14M
Pretax Income	$24.25M	$14.72M	$24.65M	$13.22M	$13.38M
Income Tax	-$138.00K	-$2.90M	$6.27M	$929.00K	-$2.90M
Net Income	$23.20M	$17.31M	$17.70M	$11.98M	$15.57M
Diluted EPS	0.19	0.12	—	0.07	0.12
Diluted Shares	82.18M	90.60M	—	79.93M	84.75M

FBRT Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$414.08M	$116.65M	$167.29M	$115.60M	$136.35M
Receivables	$4.71B	$5.11B	$4.85B	$5.10B	$5.19B
Current Assets	$5.13B	$5.25B	$5.04B	$5.24B	$5.34B
Total Assets	$5.63B	$6.22B	$6.06B	$6.30B	$6.38B
Current Liabilities	$205.99M	$224.73M	$273.36M	$283.59M	$262.23M
Long-Term Debt	$3.84B	$4.23B	$4.06B	$4.37B	$4.49B
Total Debt	$3.97B	$4.36B	$4.25B	$4.58B	$4.68B
Total Liabilities	$4.13B	$4.65B	$4.53B	$4.82B	$4.92B
Retained Earnings	-$373.71M	-$392.84M	-$411.10M	-$420.74M	-$426.44M
Shareholders' Equity	$1.49B	$1.47B	$1.44B	$1.39B	$1.37B
Working Capital	$4.92B	$5.03B	$4.77B	$4.95B	$5.08B
Net Debt	$3.55B	$4.24B	$4.08B	$4.46B	$4.55B

FBRT Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$11.82M	-$148.13M	$312.01M	-$54.01M	$48.27M
Capital Expenditure	—	—	-$180.00K	-$120.00K	—
Free Cash Flow	$11.82M	-$148.31M	$311.83M	-$54.13M	$48.27M
Depreciation & Amortisation	$1.38M	$3.43M	$3.40M	$3.42M	$1.98M
Stock-Based Compensation	$2.32M	$2.24M	$2.32M	$2.40M	$2.46M
Investing Cash Flow	$238.87M	-$52.11M	-$92.90M	-$246.11M	$257.77M
Financing Cash Flow	-$52.01M	-$78.68M	-$177.79M	$251.39M	-$287.48M
Dividends Paid	-$36.44M	-$36.46M	-$36.44M	-$35.96M	-$21.62M
Share Repurchases	$0.00	$0.00	-$14.37M	-$39.82M	-$16.00M
Net Change in Cash	$198.68M	-$278.92M	$41.32M	-$48.74M	$18.57M

Market Snapshot

About

Franklin BSP Realty Trust, Inc. is a real estate investment trust that originates, acquires, and manages a diversified portfolio of commercial real estate debt investments. The company focuses on first mortgage loans, mezzanine loans, and other commercial real estate debt secured by properties across various sectors including office, multifamily, retail, hospitality, and industrial. Franklin BSP Realty Trust is externally managed by an affiliate of Benefit Street Partners, a credit-focused alternative asset manager and part of Franklin Templeton. The REIT seeks to generate attractive risk-adjusted returns through its commercial real estate lending platform while maintaining asset quality and portfolio diversification.