Franklin Street Properties Corp. (FSP) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
401 EDGEWATER PLACE WAKEFIELD, MA 01880 |
| State of Incorp. | MA |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6798 - Real Estate Investment Trusts (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 9/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 125,530 | 3,739 | 34,308 | 2,650 | 9,790 | 11,177 | |||
| Cash and cash equivalents | 125,530 | 3,739 | 34,308 | 2,650 | 9,790 | 11,177 | |||
| Restricted cash and investments | 6,443 | 1,500 | |||||||
| Total current assets: | 125,530 | 3,739 | 40,751 | 4,150 | 9,790 | 11,177 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 300 | 700 | 1,100 | 1,400 | 1,800 | ✕ | |||
| Property, plant and equipment | 123 | 154 | 198 | 163 | 183 | 197 | |||
| Intangible assets, net (including goodwill) | 6,694 | 10,186 | 14,934 | 28,206 | 40,704 | 59,595 | |||
| Intangible assets, net (excluding goodwill) | 6,694 | 10,186 | 14,934 | 28,206 | 40,704 | 59,595 | |||
| Regulated entity, other noncurrent assets | 293 | 250 | 714 | 2,677 | 4,267 | 5,722 | |||
| Total noncurrent assets: | 7,410 | 11,290 | 16,946 | 32,446 | 46,954 | 65,514 | |||
| Other undisclosed assets | 1,036,390 | 1,226,637 | 1,306,476 | 1,756,588 | 1,785,910 | 1,821,411 | |||
| TOTAL ASSETS: | 1,169,330 | 1,241,666 | 1,364,173 | 1,793,184 | 1,842,654 | 1,898,102 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 87 | 195 | 528 | 1,592 | 2,512 | 3,795 | |||
| Off-market lease, unfavorable | 87 | 195 | 528 | 1,592 | 2,512 | 3,795 | |||
| Total noncurrent liabilities: | 87 | 195 | 528 | 1,592 | 2,512 | 3,795 | |||
| Other undisclosed liabilities | 456,438 | 472,735 | 580,442 | 1,023,501 | 1,053,746 | 1,056,673 | |||
| Total liabilities: | 456,525 | 472,930 | 580,970 | 1,025,093 | 1,056,258 | 1,060,468 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 712,805 | 768,736 | 783,203 | 768,091 | 786,396 | 837,634 | |||
| Common stock | 10 | 10 | 10 | 11 | 11 | 11 | |||
| Additional paid in capital | 1,335,091 | 1,334,776 | 1,339,226 | 1,357,131 | 1,356,794 | 1,356,457 | |||
| Accumulated other comprehensive income (loss) | 355 | 4,358 | (5,239) | (17,311) | (4,682) | 14,765 | |||
| Other undisclosed equity, attributable to parent | (622,651) | (570,408) | (550,794) | (571,740) | (565,727) | (533,599) | |||
| Total equity: | 712,805 | 768,736 | 783,203 | 768,091 | 786,396 | 837,634 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,169,330 | 1,241,666 | 1,364,173 | 1,793,184 | 1,842,654 | 1,898,102 | |||
Income Statement (P&L) ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 145,707 | 165,615 | 209,358 | 245,848 | 269,065 | 268,870 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 263,777 | |
| Operating lease, lease income | 145,446 | 163,739 | 207,581 | 244,207 | ✕ | |||
| Cost of revenue | (102,250) | (110,248) | (134,215) | (151,356) | (156,939) | (154,675) | ||
| Cost of goods and services sold | (50,732) | (52,820) | (60,881) | (66,940) | (72,311) | (70,703) | ||
| Gross profit: | 43,457 | 55,367 | 75,143 | 94,492 | 112,126 | 114,195 | ||
| Operating expenses | (68,759) | (77,693) | (94,442) | (103,555) | (105,382) | (107,559) | ||
| Operating income (loss): | (25,302) | (22,326) | (19,299) | (9,063) | 6,744 | 6,636 | ||
| Interest and debt expense | (24,424) | (22,886) | (33,174) | (36,026) | (36,757) | (38,374) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 1,895 | 46,510 | 145,407 | 77,954 | 36,757 | |||
| Income (loss) from continuing operations before equity method investments, income taxes: | (47,831) | 1,298 | 92,934 | 32,865 | 6,744 | (31,738) | ||
| Income from equity method investments | 421 | 6,793 | ||||||
| Other undisclosed income from continuing operations before income taxes | 38,374 | |||||||
| Income (loss) from continuing operations before income taxes: | (47,831) | 1,298 | 93,355 | 32,865 | 6,744 | 13,429 | ||
| Income tax expense | (279) | (204) | (638) | (250) | (269) | (360) | ||
| Income (loss) from continuing operations: | (48,110) | 1,094 | 92,717 | 32,615 | 6,475 | 13,069 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 92,717 | 32,615 | 6,475 | 13,069 | |
| Income from discontinued operations | 18,708 | 12,493 | ||||||
| Other undisclosed net loss | (18,708) | (12,493) | ||||||
| Net income (loss) attributable to parent: | (48,110) | 1,094 | 92,717 | 32,615 | 6,475 | 13,069 | ||
| Other undisclosed net loss available to common stockholders, basic | ||||||||
| Net income (loss) available to common stockholders, diluted: | (48,110) | 1,094 | 92,717 | 32,615 | 6,475 | 13,069 | ||
Comprehensive Income ($ in thousands)
| 9/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (48,110) | 1,094 | 92,717 | 32,615 | 6,475 | 13,069 | ||
| Comprehensive income (loss): | (48,110) | 1,094 | 92,717 | 32,615 | 6,475 | 13,069 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (4,003) | 9,597 | 12,072 | (12,629) | (19,447) | 2,599 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (52,113) | 10,691 | 104,789 | 19,986 | (12,972) | 15,668 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.