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MARKETS / NYSE / Real estate / Real estate investment trusts / FSP
NYSE · REAL ESTATE INVESTMENT TRUSTS · MID CAP

Franklin Street Properties Corp. FSP

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$107.2M
▼ 10.8% YoY
$-45.0M
$-12.7M

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

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
100M200M-20M-40M
2009201220152018202120242025
Compound annual growth
−13.5%
−15.3%
−7.9%
−0.5%
−41.5%
−35.6%
−25.5%
−17.8%
−58.7%
−36.0%
−25.3%
−16.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −15.3% a year over the five years to FY2025.

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%
20%40%-20%-40%
200920172025
ROE
FY2025 · ROE -7.1%
5%10%-2%-4%-6%
200920172025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.
Gross margin60.8%
Operating margin-41.8%
Net margin-42.0%
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
30M60M-50M-100M
200920172025
Net buybacks $M Dividends $M
FY2025 · Dividends 4.1 · Net buybacks ·
30M60MDividendsNet buybacks
200920112013201520172019202120232025
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—not applicable◌not available in our data
FSP, 17-year financial record
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.10.10.10.20.20.20.30.30.30.20.20.20.20.20.10.10.1
Operating income $B−0.0−0.1−0.00.0◌◌◌0.00.00.00.00.00.00.00.00.00.0
EBITDA $B0.0−0.00.00.1◌◌◌0.10.10.10.10.10.10.10.10.10.1
Income tax $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Net income $B−0.0−0.1−0.00.00.10.00.00.0−0.00.00.00.00.00.00.00.00.0
Free cash flow $B−0.0−0.0−0.0−0.0−0.0−0.00.00.00.00.10.10.10.10.1−0.10.0−0.0
EPS, diluted $−0.43−0.51−0.470.010.870.300.060.12−0.150.080.350.130.210.090.530.280.38
Dividend / sh $0.040.040.040.200.680.360.360.460.760.760.760.760.760.760.760.760.76
Payout %−9−8−9493542118596377−511925217579351826143274198
ROE %−7.1−7.7−6.50.112.04.20.81.5−1.70.93.71.32.10.94.72.43.0
Shares out B0.100.100.100.100.100.110.110.110.110.110.100.100.100.080.080.08◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 50 reconciliationsAUDITED

Reconciled in 17 of the 17 fiscal years we could check. Three checks were skipped: the balance sheet is not tagged before 2010. Two checks were skipped: EPS is not tagged before 2009. Two checks were skipped: revenue is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inMassachusetts
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2009

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