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FRANKLIN STREET PROPERTIES C (FSP) Stock Fundamental Analysis

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

1.94  -0.08 (-3.96%)

After market: 1.94 0 (0%)

Fundamental Rating

2

We assign a fundamental rating of 2 out of 10 to FSP. FSP was compared to 129 industry peers in the Diversified REITs industry. FSP has a bad profitability rating. Also its financial health evaluation is rather negative. FSP has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

FSP had negative earnings in the past year.
In the past year FSP had a positive cash flow from operations.
In multiple years FSP reported negative net income over the last 5 years.
FSP had a positive operating cash flow in 4 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 0 100M -100M -200M

1.2 Ratios

The Return On Assets of FSP (-4.14%) is worse than 85.71% of its industry peers.
FSP's Return On Equity of -6.10% is on the low side compared to the rest of the industry. FSP is outperformed by 73.02% of its industry peers.
Industry RankSector Rank
ROA -4.14%
ROE -6.1%
ROIC N/A
ROA(3y)0.92%
ROA(5y)0.99%
ROE(3y)1.74%
ROE(5y)2.06%
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 0 5 -5 10

1.3 Margins

The Gross Margin of FSP (44.79%) is worse than 82.54% of its industry peers.
In the last couple of years the Gross Margin of FSP has declined.
FSP does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 44.79%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-4.31%
GM growth 5Y-3.87%
FSP Yearly Profit, Operating, Gross MarginsFSP Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40

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3

2. Health

2.1 Basic Checks

FSP does not have a ROIC to compare to the WACC, probably because it is not profitable.
There is no outstanding debt for FSP. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
FSP Yearly Shares OutstandingFSP Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 500M 1B 1.5B 2B

2.2 Solvency

FSP has an Altman-Z score of -0.39. This is a bad value and indicates that FSP is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of -0.39, FSP is not doing good in the industry: 88.89% of the companies in the same industry are doing better.
A Debt/Equity ratio of 0.41 indicates that FSP is not too dependend on debt financing.
FSP has a better Debt to Equity ratio (0.41) than 92.86% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.41
Debt/FCF N/A
Altman-Z -0.39
ROIC/WACCN/A
WACC7.85%
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 0 200M -200M 400M 600M 800M 1B

2.3 Liquidity

FSP has a Current Ratio of 1.96. This is a normal value and indicates that FSP is financially healthy and should not expect problems in meeting its short term obligations.
FSP has a better Current ratio (1.96) than 74.60% of its industry peers.
FSP has a Quick Ratio of 1.96. This is a normal value and indicates that FSP is financially healthy and should not expect problems in meeting its short term obligations.
With a decent Quick ratio value of 1.96, FSP is doing good in the industry, outperforming 77.78% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.96
Quick Ratio 1.96
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 50M 100M 150M 200M

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2

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 17.02% over the past year.
EPS 1Y (TTM)17.02%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%0%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-18.38%

3.2 Future

The Earnings Per Share is expected to grow by 14.05% on average over the next years. This is quite good.
FSP is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 0.41% yearly.
EPS Next Y27.49%
EPS Next 2Y14.05%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year0.02%
Revenue Next 2Y0.41%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

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 0 0.2 -0.2 0.4 -0.4 0.6 0.8

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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 60

4.2 Price Multiples

FSP's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. FSP is cheaper than 84.92% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 9.75
FSP Per share dataFSP EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

A more expensive valuation may be justified as FSP's earnings are expected to grow with 14.05% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y14.05%
EPS Next 3YN/A

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2

5. Dividend

5.1 Amount

FSP has a Yearly Dividend Yield of 1.98%. Purely for dividend investing, there may be better candidates out there.
Compared to an average industry Dividend Yield of 18.48, FSP's dividend is way lower than its industry peers. On top of this 84.13% of the companies listed in the same industry pay a better dividend than FSP!
FSP's Dividend Yield is comparable with the S&P500 average which is at 2.29.
Industry RankSector Rank
Dividend Yield 1.98%

5.2 History

The dividend of FSP decreases each year by -38.64%.
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)-38.64%
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-10.19%
EPS Next 2Y14.05%
EPS Next 3YN/A
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 0 -100M -200M

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FRANKLIN STREET PROPERTIES C

NYSEARCA:FSP (2/21/2025, 8:22:02 PM)

After market: 1.94 0 (0%)

1.94

-0.08 (-3.96%)

Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)02-11 2025-02-11/amc
Earnings (Next)04-28 2025-04-28/amc
Inst Owners64.12%
Inst Owner Change-4.43%
Ins Owners16.18%
Ins Owner Change0%
Market Cap200.93M
Analysts45
Price Target2.04 (5.15%)
Short Float %2.31%
Short Ratio5.26
Dividend
Industry RankSector Rank
Dividend Yield 1.98%
Yearly Dividend0.04
Dividend Growth(5Y)-38.64%
DP-10.19%
Div Incr Years0
Div Non Decr Years1
Ex-Date01-24 2025-01-24 (0.01)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-172.28%
Min EPS beat(2)-197.03%
Max EPS beat(2)-147.52%
EPS beat(4)0
Avg EPS beat(4)-123.27%
Min EPS beat(4)-197.03%
Max EPS beat(4)-73.27%
EPS beat(8)2
Avg EPS beat(8)-97.34%
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)-2.53%
Min Revenue beat(2)-4.48%
Max Revenue beat(2)-0.58%
Revenue beat(4)1
Avg Revenue beat(4)-1.74%
Min Revenue beat(4)-4.48%
Max Revenue beat(4)0.86%
Revenue beat(8)3
Avg Revenue beat(8)-0.59%
Revenue beat(12)6
Avg Revenue beat(12)0.34%
Revenue beat(16)7
Avg Revenue beat(16)-0.34%
PT rev (1m)0%
PT rev (3m)14.29%
EPS NQ rev (1m)0%
EPS NQ rev (3m)40%
EPS NY rev (1m)-15%
EPS NY rev (3m)-15%
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 1.59
P/FCF N/A
P/OCF 15.39
P/B 0.3
P/tB 0.3
EV/EBITDA 9.75
EPS(TTM)-0.39
EYN/A
EPS(NY)-0.28
Fwd EYN/A
FCF(TTM)-0.11
FCFYN/A
OCF(TTM)0.13
OCFY6.5%
SpS1.22
BVpS6.42
TBVpS6.38
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -4.14%
ROE -6.1%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 44.79%
FCFM N/A
ROA(3y)0.92%
ROA(5y)0.99%
ROE(3y)1.74%
ROE(5y)2.06%
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-4.31%
GM growth 5Y-3.87%
F-Score5
Asset Turnover0.13
Health
Industry RankSector Rank
Debt/Equity 0.41
Debt/FCF N/A
Debt/EBITDA 6.03
Cap/Depr 50.57%
Cap/Sales 19.51%
Interest Coverage N/A
Cash Conversion 28.84%
Profit Quality N/A
Current Ratio 1.96
Quick Ratio 1.96
Altman-Z -0.39
F-Score5
WACC7.85%
ROIC/WACCN/A
Cap/Depr(3y)72.95%
Cap/Depr(5y)75.87%
Cap/Sales(3y)28.61%
Cap/Sales(5y)28.76%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)17.02%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%0%
EPS Next Y27.49%
EPS Next 2Y14.05%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-18.38%
Revenue Next Year0.02%
Revenue Next 2Y0.41%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-1392.44%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year4585.98%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y60.04%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-30.38%
OCF growth 3Y-36.09%
OCF growth 5Y-25.94%