Brandywine Realty Trust (BDN) Cash Flow: Operating & Free Cash Flow

Brandywine Realty Trust Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Brandywine Realty Trust (BDN) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	265.73	-196.49	-197.40	53.99	12.37	307.33	34.53	137.29	121.86
Depreciation & Amortization	-0.65	178.17	192.11	177.98	178.11	188.28	210.01	174.26	179.36
Deferred Income Tax	0.00	0.01	0.07	0.06	0.05	-0.22	0.01	0.42	-0.63
Stock Based Compensation	0.00	16.89	9.85	8.94	7.13	6.63	6.88	5.72	4.88
Change in Working Capital	-25.99	9.86	-17.85	9.68	-10.39	9.72	3.73	7.69	-1.73
Change in Accounts Receivable	-8.81	-0.01	0.24	1.33	2.51	-2.03	-0.25	3.52	-6.27
Change in Inventory	0.00	0.00	0.00	0.00	-2.97	5.60	-12.58	0.00	2.02
Change in Accounts Payable	2.71	0.95	-12.93	5.41	2.97	-5.60	12.58	12.58	4.00
Change in Other Working Capital	-19.89	8.91	-18.09	-17.56	-12.90	11.75	3.97	4.16	-1.48
Other Operating Activities	-122.39	172.68	190.57	-17.56	3.62	-285.92	-20.92	-98.03	-121.73
Net Cash from Operating Activities	116.70	181.13	177.27	209.31	190.87	225.81	234.23	227.35	182.02
Investing Activities
Capital Expenditures	-113.40	-129.76	-164.21	-263.01	-135.12	-160.25	-198.30	-212.60	-162.18
Acquisitions	-176.47	-194.03	-85.92	-47.43	-31.64	-0.72	7.30	59.44	138.78
Purchases of Investments	0.00	0.00	0.00	-227.11	-109.93	-179.75	-138.69	-522.58	-180.76
Sales/Maturities of Investments	0.00	0.00	0.00	108.06	58.02	279.60	54.87	384.63	318.02
Other Investing Activities	83.59	203.60	-91.01	238.90	118.36	79.41	144.16	-61.35	103.20
Net Cash from Investing Activities	-206.28	-120.19	-174.91	-190.59	-100.32	18.29	-130.66	-214.51	79.80
Financing Activities
Debt Repayment	158.16	79.85	-64.16	-708.63	23.00	-94.99	116.28	-33.11	-88.12
Common Stock Issued	-1.54	0.00	0.00	0.00	0.00	0.00	0.00	0.42	52.45
Common Stock Repurchased	0.00	-1.03	-0.37	-4.01	-2.33	-60.00	-17.28	-28.88	-100.00
Dividends Paid	-93.02	-104.48	-124.26	-130.72	-130.26	-131.15	-134.14	-129.92	-116.31
Other Financing Activities	-7.90	-6.64	-5.12	-10.33	0.25	-2.05	-0.47	-2.64	-100.36
Net Cash from Financing Activities	55.71	-32.30	46.79	-28.63	-109.34	-288.19	-35.61	-193.07	-253.56
Summary
Net Change in Cash	-33.88	28.64	49.15	-9.91	-18.78	-44.09	67.96	-180.23	8.26
Cash at Beginning of Period	96.18	67.53	18.39	28.30	47.08	91.17	23.21	203.44	193.92
Cash at End of Period	62.30	96.18	67.53	18.39	28.30	47.08	91.17	23.21	202.18
Free Cash Flow	3.31	51.37	13.07	-53.71	55.75	65.56	35.93	14.75	19.84
Supplemental Disclosures
Interest Paid	-	132.25	107.84	85.76	72.39	-	-	-	-
Income Taxes Paid	-	0.57	0.55	0.90	0.79	-	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Brandywine Realty Trust Cash Flow

What is Brandywine Realty Trust's free cash flow?

Brandywine Realty Trust generated free cash flow of $3.31M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $116.70M minus $113.40M of capital expenditures. That was down 93.6% from $51.37M a year earlier. Free cash flow equaled 0.7% of revenue.

How much does Brandywine Realty Trust spend on capital expenditures?

Brandywine Realty Trust spent $113.40M on capital expenditures in fiscal 2025, compared with $129.76M a year earlier. That equals 97.2% of operating cash flow.

Does Brandywine Realty Trust pay dividends or buy back shares?

Yes. In fiscal 2025 Brandywine Realty Trust returned $93.02M in dividends to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition