MARKETS / NYSE / FSP

NYSE · REAL ESTATE INVESTMENT TRUSTS · MID CAP

Franklin Street Properties Corp. FSP

17 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$107.2M

▼ 10.8% YoY

Net income

$-45.0M

Free cash flow

$-12.7M

In brief

What this company does

Franklin Street Properties Corp. is a REIT focused on commercial real estate investments primarily in office markets, and it currently operates in only one segment, real estate operations. The principal revenue sources for its real estate operations are rental income from real estate leasing, property dispositions, and fee income from asset and property management and development. As of December 31, 2025, it owned and operated a portfolio of real estate consisting of 14 properties, referred to as its owned properties. It had 28 employees as of both March 5, 2026 and December 31, 2025. It provides asset management, property management, property accounting, and investor and development services to its portfolio and its Sponsored REIT through its subsidiaries FSP Investments LLC and FSP Property Management LLC. FSP Corp. is the successor to Franklin Street Partners Limited Partnership, which was originally formed as a Massachusetts general partnership in January 1997 as the successor to a Massachusetts general partnership formed in 1981, and on January 1, 2002 the FSP Partnership converted into FSP Corp.

Written from the business description in Franklin Street Properties Corp.'s annual report to the U.S. Securities and Exchange Commission, filed 9 March 2026. Every sentence was checked against that document before publication.

Growth

USD 107.2M

Revenue, FY2025 · full 17-year series below

Revenue $M Net income $M

FY2025 · Revenue 107.2 · Net income -45.0

Compound annual growth

Revenue

−13.5%

−15.3%

−7.9%

−0.5%

Dividend / share

−41.5%

−35.6%

−25.5%

−17.8%

Returned to shareholders

−58.7%

−36.0%

−25.3%

−16.4%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at −15.3% 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

−42 cents

lost on every revenue dollar

Operating margin Net margin

FY2025 · Operating -41.8% · Net -42.0%

ROE

FY2025 · ROE -7.1%

Gross margin60.8%

Operating margin-41.8%

Net margin-42.0%

Return on assets-4.9%

EBITDAUSD 559,000.00

Each USD of equity lost 7 cents this year.

Cash & shareholders

USD 4.1M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF -12.7

Net buybacks $M Dividends $M

FY2025 · Dividends 4.1 · Net buybacks —

Dividends paidUSD 4.1M

Net buybacks—

Share of profit-9.2%

Consecutive raises—

USD 4.1M in dividends went back to shareholders in a year without profit.

Total assetsUSD 892.9M

EquityUSD 607.0M

CashUSD 30.6M

Equity funds 68% of total assets.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	0.1	0.1	0.1	0.2	0.2	0.2	0.3	0.3	0.3	0.2	0.2	0.2	0.2	0.2	0.1	0.1	0.1
Operating income $B	−0.0	−0.1	−0.0	0.0	·	·	·	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
EBITDA $B	0.0	−0.0	0.0	0.1	·	·	·	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Income tax $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Net income $B	−0.0	−0.1	−0.0	0.0	0.1	0.0	0.0	0.0	−0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Free cash flow $B	−0.0	−0.0	−0.0	−0.0	−0.0	−0.0	0.0	0.0	0.0	0.1	0.1	0.1	0.1	0.1	−0.1	0.0	−0.0
EPS, diluted $	−0.43	−0.51	−0.47	0.01	0.87	0.30	0.06	0.12	−0.15	0.08	0.35	0.13	0.21	0.09	0.53	0.28	0.38
Dividend / sh $	0.04	0.04	0.04	0.20	0.68	0.36	0.36	0.46	0.76	0.76	0.76	0.76	0.76	0.76	0.76	0.76	0.76
Payout %	−9	−8	−9	4935	42	118	596	377	−511	925	217	579	351	826	143	274	198
ROE %	−7.1	−7.7	−6.5	0.1	12.0	4.2	0.8	1.5	−1.7	0.9	3.7	1.3	2.1	0.9	4.7	2.4	3.0
Shares out B	0.10	0.10	0.10	0.10	0.10	0.11	0.11	0.11	0.11	0.11	0.10	0.10	0.10	0.08	0.08	0.08	·

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 50 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 10 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityReal Estate Investment Trusts

Listed onNYSE

Incorporated inMassachusetts

Fiscal year endsDecember 31

SEC categorysmaller reporting company

Data on record since2009