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FRANKLIN STREET PROPERTIES C (FSP) Stock Fundamental Analysis

NYSEARCA:FSP - NYSE Arca - US35471R1068 - REIT - Currency: USD

1.87  +0.05 (+2.75%)

After market: 1.87 0 (0%)

Fundamental Rating

2

Overall FSP gets a fundamental rating of 2 out of 10. We evaluated FSP against 129 industry peers in the Diversified REITs industry. The financial health of FSP is average, but there are quite some concerns on its profitability. FSP is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

1

1. Profitability

1.1 Basic Checks

FSP had negative earnings in the past year.
FSP had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: FSP reported negative net income in multiple years.
FSP had a positive operating cash flow in each of the past 5 years.
FSP Yearly Net Income VS EBIT VS OCF VS FCFFSP Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M -200M

1.2 Ratios

With a Return On Assets value of -7.27%, FSP is not doing good in the industry: 91.47% of the companies in the same industry are doing better.
Looking at the Return On Equity, with a value of -10.52%, FSP is doing worse than 77.52% of the companies in the same industry.
Industry RankSector Rank
ROA -7.27%
ROE -10.52%
ROIC N/A
ROA(3y)-3.2%
ROA(5y)-0.2%
ROE(3y)-4.88%
ROE(5y)0.29%
ROIC(3y)N/A
ROIC(5y)N/A
FSP Yearly ROA, ROE, ROICFSP Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10

1.3 Margins

FSP has a Gross Margin of 42.87%. This is amonst the worse of the industry: FSP underperforms 81.40% of its industry peers.
FSP's Gross Margin has declined in the last couple of years.
The Profit Margin and Operating Margin are not available for FSP so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 42.87%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-5.29%
GM growth 5Y-4.66%
FSP Yearly Profit, Operating, Gross MarginsFSP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40

4

2. Health

2.1 Basic Checks

FSP does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for FSP remains at a similar level compared to 1 year ago.
The number of shares outstanding for FSP has been reduced compared to 5 years ago.
FSP has a better debt/assets ratio than last year.
FSP Yearly Shares OutstandingFSP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
FSP Yearly Total Debt VS Total AssetsFSP Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

Based on the Altman-Z score of -0.53, we must say that FSP is in the distress zone and has some risk of bankruptcy.
FSP's Altman-Z score of -0.53 is on the low side compared to the rest of the industry. FSP is outperformed by 88.37% of its industry peers.
FSP has a Debt/Equity ratio of 0.39. This is a healthy value indicating a solid balance between debt and equity.
Looking at the Debt to Equity ratio, with a value of 0.39, FSP belongs to the top of the industry, outperforming 94.57% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF N/A
Altman-Z -0.53
ROIC/WACCN/A
WACC7.97%
FSP Yearly LT Debt VS Equity VS FCFFSP Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M 600M 800M 1B

2.3 Liquidity

A Current Ratio of 1.95 indicates that FSP should not have too much problems paying its short term obligations.
FSP has a Current ratio of 1.95. This is in the better half of the industry: FSP outperforms 79.07% of its industry peers.
A Quick Ratio of 1.95 indicates that FSP should not have too much problems paying its short term obligations.
The Quick ratio of FSP (1.95) is better than 79.07% of its industry peers.
Industry RankSector Rank
Current Ratio 1.95
Quick Ratio 1.95
FSP Yearly Current Assets VS Current LiabilitesFSP Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M

2

3. Growth

3.1 Past

The earnings per share for FSP have decreased strongly by -14.29% in the last year.
The Revenue for FSP has decreased by -16.65% in the past year. This is quite bad
FSP shows a very negative growth in Revenue. Measured over the last years, the Revenue has been decreasing by -14.90% yearly.
EPS 1Y (TTM)-14.29%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-200%
Revenue 1Y (TTM)-16.65%
Revenue growth 3Y-16.91%
Revenue growth 5Y-14.9%
Sales Q2Q%-13.19%

3.2 Future

Based on estimates for the next years, FSP will show a small growth in Earnings Per Share. The EPS will grow by 7.80% on average per year.
The Revenue is expected to grow by 0.41% on average over the next years.
EPS Next Y39.4%
EPS Next 2Y16.34%
EPS Next 3Y7.8%
EPS Next 5YN/A
Revenue Next Year0.02%
Revenue Next 2Y0.41%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
FSP Yearly Revenue VS EstimatesFSP Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 50M 100M 150M 200M 250M
FSP Yearly EPS VS EstimatesFSP Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5

1

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for FSP. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for FSP. No positive earnings are expected for the next year.
Industry RankSector Rank
PE N/A
Fwd PE N/A
FSP Price Earnings VS Forward Price EarningsFSP Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40

4.2 Price Multiples

79.84% of the companies in the same industry are more expensive than FSP, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 10.28
FSP Per share dataFSP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y16.34%
EPS Next 3Y7.8%

2

5. Dividend

5.1 Amount

FSP has a Yearly Dividend Yield of 2.19%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 6.93, FSP's dividend is way lower than its industry peers. On top of this 84.50% of the companies listed in the same industry pay a better dividend than FSP!
Compared to an average S&P500 Dividend Yield of 2.40, FSP has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.19%

5.2 History

The dividend of FSP decreases each year by -35.56%.
FSP has been paying a dividend for at least 10 years, so it has a reliable track record.
FSP has decreased its dividend recently.
Dividend Growth(5Y)-35.56%
Div Incr Years0
Div Non Decr Years1
FSP Yearly Dividends per shareFSP Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6

5.3 Sustainability

The earnings of FSP are negative and hence is the payout ratio. FSP will probably not be able to sustain this dividend level.
DP-6.22%
EPS Next 2Y16.34%
EPS Next 3Y7.8%
FSP Yearly Income VS Free CF VS DividendFSP Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100M -200M

FRANKLIN STREET PROPERTIES C

NYSEARCA:FSP (5/27/2025, 8:04:00 PM)

After market: 1.87 0 (0%)

1.87

+0.05 (+2.75%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)04-29 2025-04-29/amc
Earnings (Next)07-28 2025-07-28/amc
Inst Owners64.12%
Inst Owner Change-0.5%
Ins Owners16.18%
Ins Owner Change0%
Market Cap193.68M
Analysts45
Price Target1.79 (-4.28%)
Short Float %1.77%
Short Ratio3.58
Dividend
Industry RankSector Rank
Dividend Yield 2.19%
Yearly Dividend0.04
Dividend Growth(5Y)-35.56%
DP-6.22%
Div Incr Years0
Div Non Decr Years1
Ex-Date04-17 2025-04-17 (0.01)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-161.96%
Min EPS beat(2)-164.03%
Max EPS beat(2)-159.9%
EPS beat(4)0
Avg EPS beat(4)-167.12%
Min EPS beat(4)-197.03%
Max EPS beat(4)-147.52%
EPS beat(8)0
Avg EPS beat(8)-182.03%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-11.02%
Min Revenue beat(2)-13.17%
Max Revenue beat(2)-8.87%
Revenue beat(4)0
Avg Revenue beat(4)-6.77%
Min Revenue beat(4)-13.17%
Max Revenue beat(4)-0.58%
Revenue beat(8)2
Avg Revenue beat(8)-3.74%
Revenue beat(12)5
Avg Revenue beat(12)-1.77%
Revenue beat(16)7
Avg Revenue beat(16)-1.06%
PT rev (1m)-12.5%
PT rev (3m)-12.5%
EPS NQ rev (1m)-14.29%
EPS NQ rev (3m)-14.29%
EPS NY rev (1m)0%
EPS NY rev (3m)-7.14%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 1.67
P/FCF N/A
P/OCF 18.28
P/B 0.31
P/tB 0.31
EV/EBITDA 10.28
EPS(TTM)-0.64
EYN/A
EPS(NY)-0.32
Fwd EYN/A
FCF(TTM)-0.1
FCFYN/A
OCF(TTM)0.1
OCFY5.47%
SpS1.12
BVpS6.12
TBVpS6.08
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -7.27%
ROE -10.52%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 42.87%
FCFM N/A
ROA(3y)-3.2%
ROA(5y)-0.2%
ROE(3y)-4.88%
ROE(5y)0.29%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-5.29%
GM growth 5Y-4.66%
F-Score3
Asset Turnover0.13
Health
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF N/A
Debt/EBITDA 6.27
Cap/Depr 44.54%
Cap/Sales 18.03%
Interest Coverage N/A
Cash Conversion 26.83%
Profit Quality N/A
Current Ratio 1.95
Quick Ratio 1.95
Altman-Z -0.53
F-Score3
WACC7.97%
ROIC/WACCN/A
Cap/Depr(3y)63.89%
Cap/Depr(5y)71.35%
Cap/Sales(3y)25.29%
Cap/Sales(5y)27.7%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-14.29%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-200%
EPS Next Y39.4%
EPS Next 2Y16.34%
EPS Next 3Y7.8%
EPS Next 5YN/A
Revenue 1Y (TTM)-16.65%
Revenue growth 3Y-16.91%
Revenue growth 5Y-14.9%
Sales Q2Q%-13.19%
Revenue Next Year0.02%
Revenue Next 2Y0.41%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-262.29%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y68.23%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-55.69%
OCF growth 3Y-37.24%
OCF growth 5Y-35.72%