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MARKETS / NYSE / BFS
NYSE · REAL ESTATE INVESTMENT TRUSTS · MID CAP

Saul Centers, Inc. BFS

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$289.8M
▲ 7.8% YoY
$37.5M
▼ 25.9% YoY
$47.0M
In brief

What this company does

Saul Centers, Inc. is an owner of, and investor in, transit-centric residential mixed-use properties, community and neighborhood shopping centers, and other mixed-use properties. As of December 31, 2025, its Current Portfolio Properties consisted of 50 shopping center properties, nine mixed-use properties comprised of office, retail and multi-family residential uses, and three non-operating development properties. The Company conducts its business through the Operating Partnership and/or directly or indirectly owned subsidiaries. As of December 31, 2025, the Company had approximately 70 full-time equivalent corporate employees and 86 full-time employees and 12 part-time employees at its properties. Saul Centers was formed to continue and expand the shopping center business previously owned and conducted by the B. F. Saul Real Estate Investment Trust, the B. F. Saul Company and certain other affiliated entities controlled by B. Francis Saul II and his family members.

Written from the business description in SAUL CENTERS, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 289.8M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 289.8 · Net income 37.5
100M200M200920112013201520172019202120232025
Compound annual growth
+5.6%
+5.2%
+3.3%
+3.9%
−9.3%
−1.5%
−1.2%
+0.1%
−12.6%
−2.7%
−2.6%
−0.5%
+0.6%
+2.2%
+3.4%
+3.3%
+1.0%
+3.0%
+4.8%
+5.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.2% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
17 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 67.4% · Net 17.0%
20%40%60%200920112013201520172019202120232025
ROE
FY2025 · ROE 11.7%
5%10%15%200920112013201520172019202120232025

Each USD of equity produced 12 cents of profit this year.

Cash & shareholders
USD 57.1M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 47.0
40M80M-50M-100M200920112013201520172019202120232025
Net buybacks $M Dividends $M
FY2025 · Dividends 57.1 · Net buybacks —
20M40M200920112013201520172019202120232025

USD 57.1M in dividends — 152% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 2.2B
EquityUSD 307.8M
CashUSD 8.7M
Gross debtUSD 468.4M
Net debtUSD 459.7M

Net debt stands at 149% of equity.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.30.30.30.20.20.20.20.20.20.20.20.20.20.20.20.20.2
Operating income $B0.20.20.20.2···0.10.10.10.10.10.00.00.00.00.0
EBITDA $B0.30.30.20.2···0.10.10.10.10.10.10.10.10.10.1
Income tax $B·················
Net income $B0.00.10.10.10.00.00.10.10.00.00.00.00.00.00.00.00.0
Free cash flow $B0.0−0.0−0.10.00.10.0−0.0−0.0−0.0−0.00.0−0.00.00.0−0.10.10.1
EPS, diluted $1.091.631.731.631.571.251.571.601.631.521.421.540.570.930.611.181.20
Dividend / sh $2.362.360.592.322.162.122.122.082.041.841.691.561.441.441440.001.441.50
Payout %15211210811110512294929287846995841017175
ROE %11.714.814.112.512.610.914.214.614.814.614.316.511.312.910.915.3·
Shares out B0.020.020.020.020.020.020.020.020.020.020.020.020.020.020.020.02·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 57 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 19 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inMaryland
Fiscal year endsDecember 31
Data on record since2009

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