Franklin BSP Realty Trust (FBRT) Financial Statements & Analysis

Franklin BSP Realty Trust (FBRT) Income Statement

Franklin BSP Realty Trust reported revenue of $270.07M in fiscal 2025 (fiscal year ended Dec 31, 2025), down 50.8% from $548.92M a year earlier. Net income was $55.28M, down 42.3% year over year, a net margin of 20.5%. Gross margin was -6.8% and operating margin -80.2%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $116.30M, down 2.7% from the same quarter a year earlier.

Franklin BSP Realty Trust Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

Scale:

Scroll to see more

Franklin BSP Realty Trust, Inc. income statement - 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
Revenue & Gross Profit
Revenue	270.07	548.93	569.53	206.83	165.46	184.17	198.47	152.29	89.56
Cost of Revenue	288.33	338.47	305.58	165.71	60.84	70.21	93.22	70.00	32.36
Gross Profit	-18.26	210.45	263.95	46.31	109.26	113.96	105.25	82.29	57.21
Operating Expenses
Research & Development	0.00	0.00	0.00	-	-	0.00	-	-	-
Selling, General & Administrative	167.66	58.35	68.32	69.58	52.57	39.26	44.22	32.06	21.48
Operating Expenses	127.65	99.68	109.18	105.69	44.33	54.79	47.73	35.43	20.77
Operating Income	-216.48	110.78	154.77	4.91	-38.89	59.17	22.85	46.86	36.44
Other Income/Expense
Interest Income	3.58	526.08	552.51	357.71	216.89	179.87	195.30	152.29	89.56
Interest Expense	288.33	338.47	305.58	165.71	60.84	66.56	90.42	70.00	32.36
Other Income/Expense	4.27	-17.26	-13.01	-115.51	6.80	-6.49	38.17	86.98	5.06
Income
Income Before Tax	87.97	93.52	141.75	13.82	29.30	52.68	88.41	52.90	34.00
Income Tax Expense	-3.88	1.12	-2.76	0.40	-3.60	-2.06	4.48	0.08	0.23
Net Income	55.28	95.88	145.22	-27.31	-7.89	54.75	83.92	52.83	33.78
Net Income - Continuous Operations	84.09	92.40	145.22	14.43	25.70	54.75	83.92	52.83	33.78
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-206.88	116.41	163.18	10.24	-36.78	61.40	58.02	46.86	36.44
EBIT	-216.48	110.78	154.77	4.91	-38.89	-	-	-	-
Depreciation & Amortization	9.59	5.63	8.41	129.98	41.61	2.23	53.17	42.38	28.57
Earnings Per Share
Basic EPS	1.00	1.00	1.00	-	-	1.00	2.00	1.00	1.00
Diluted EPS	1.00	1.00	1.00	-	-	1.00	2.00	1.00	1.00
Basic Shares Outstanding	81.97	81.85	82.31	71.63	43.42	88.77	88.99	88.99	88.99
Diluted Shares Outstanding	86.19	81.85	82.31	71.63	43.43	88.80	88.99	88.99	88.99

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

Frequently Asked Questions About Franklin BSP Realty Trust Financial Statements

What was Franklin BSP Realty Trust's revenue in fiscal 2025?

Franklin BSP Realty Trust reported revenue of $270.07M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was down 50.8% from $548.92M a year earlier.

Is Franklin BSP Realty Trust profitable?

Yes. Franklin BSP Realty Trust earned net income of $55.28M in fiscal 2025, a net margin of 20.5%. In fiscal 2024 it earned $95.88M.

What is Franklin BSP Realty Trust's operating margin?

Franklin BSP Realty Trust's operating income was −$216.48M on revenue of $270.07M in fiscal 2025, an operating margin of -80.2%, compared with 20.2% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition