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Brandywine Realty Trust

BDN Real Estate Reit Office

Brandywine Realty Trust’s revenue for fiscal 2025 (year ended December 2025) was $484.5 million, down 4.17% from fiscal 2024. In the quarter to June 2026, revenue grew 6.92%, EPS grew 64.7%, free cash flow fell 1.07% and total debt rose 13.2%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

2.97 0.02 +0.68%
Market cap
$516.5M
P/E
0.0×
Fwd P/E
−3.6×
Dividend yield
10.8%
F-score
3/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.40
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 — — — — — — — — — 1 —
Sell — — — — — — — — — — — —
Insider Ownership 4.73%

Capital & Financial Ratios $m

Market Cap 516.52
Revenue 498.29
Net Income (143.21)
Free Cash Flow 81.29
Net Debt 2,578.31
Current Ratio 1.67
Debt/Equity 3.76
P/E ratio 0.00
Fwd P/E (3.56) (negative: loss-making)
P/S ratio 1.04
P/B ratio 0.74
Past 5Y EPS Growth —
This Y EPS Growth 24.74% (at or above 15%: strong)
Next Y EPS Growth 20.50% (at or above 15%: strong)
Next Y revenue growth 0.40%
Next 5Y EPS Growth 26.42% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.2×, against a ten-year median of 7.3×; over the ten years it ranged from 5.3× in 2023 to 9.7× in 2017.
P/S against its own 10 years 2.47%
10-year low 10-year high
P/B against its own 10 years 27.23%
10-year low 10-year high
EV/Sales against its own 10 years 30.46%
10-year low 10-year high
EV/FCF against its own 10 years 66.86%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate 0.32
Annual Dividend Yield 10.77%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 0.32
0.08
0.08
0.08
0.08
2025 0.53
0.15
0.15
0.15
0.08
2024 0.60
0.15
0.15
0.15
0.15
2023 0.72
0.19
0.19
0.19
0.15
2022 0.76
0.19
0.19
0.19
0.19
2021 0.76
0.19
0.19
0.19
0.19
2020 0.76
0.19
0.19
0.19
0.19
2019 0.76
0.19
0.19
0.19
0.19
2018 0.72
0.18
0.18
0.18
0.18
2017 0.64
0.16
0.16
0.16
0.16
2016 0.62
0.15
0.15
0.16
0.16
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 68 96 62 39
Receivables 199 197 205 189
Inventory — — — —
Other — — — —
266 293 267 228
2023 2024 2025 Q'26
Payables 124 130 144 137
ST’ Debt — — — —
Other — — — —
124 130 144 137

Compound Annual Growth %

10y 5y 3y
Sales (2.16%) (1.96%) (1.45%)
Cash Flow (5.11%) (12.37%) (17.69%)
Earnings 0.00% 0.00% 0.00%
Book Value (8.56%) (15.06%) (21.24%)

Revenue $m

Mar Jun Sep Dec Year
’26 127 129 — — —
’25 122 121 121 121 484
’24 126 125 132 122 506
’23 129 126 129 130 515
’22 128 124 126 129 506
’21 121 120 120 126 487
’20 145 137 126 127 535
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 10 36 — — —
’25 6 34 47 29 117
’24 24 48 52 57 181
’23 5 56 50 66 177
’22 29 50 70 61 209
’21 41 38 62 50 191
’20 45 55 62 63 226
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (23) 22 — — —
’25 (26) 23 82 0 78
’24 (4) 22 57 131 207
’23 (27) 11 72 34 90
’22 (51) (14) 21 52 7
’21 21 9 46 (9) 66
’20 8 26 114 154 302
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.28) (0.18) — — —
’25 (0.16) (0.51) (0.15) (0.21) (1.03)
’24 (0.10) 0.17 (0.96) (0.25) (1.13)
’23 (0.03) (0.08) (0.13) (0.91) (1.15)
’22 0.03 0.03 0.08 0.17 0.31
’21 0.04 0.00 0.01 0.03 0.07
’20 0.04 0.02 1.60 0.11 1.77
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Price, $
Price, $ Low 11.22 15.63 12.32 12.40 7.48 10.63 5.95 3.42 3.85 2.83 (14.2%) ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
High 17.05 18.69 18.29 16.18 16.25 15.17 14.88 7.25 6.54 5.76 (11.4%) ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
People
People Employees 363 342 329 337 341 327 334 331 290 278 (2.9%) ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Revenue/emp, $m 1.45 1.52 1.65 1.72 1.57 1.49 1.52 1.55 1.74 1.74 +2.1% ‡‡‡‡ ‡‡‡‡ ‡‡‡‡ ‡‡‡‡
Income, $m
Income, $m Revenue 525 520 544 580 535 487 506 515 506 484 (0.9%) 486 467 455 (2.1%)
Gross margin, % 60.14 60.41 59.93 61.09 61.59 61.32 61.59 63.09 62.94 61.77 +1.6 pt
EBT 41 121 136 35 307 12 54 (197) (196) (179) n/m
EBT margin, % 7.71 23.16 24.96 5.95 57.42 2.55 10.68 (38.34) (38.87) (36.90) (44.6) pt
Net income 41 121 135 35 307 12 54 (197) (196) (179) n/m
Depreciation 192 186 182 211 192 181 182 201 197 198 +0.3%
Per share, $
Per share, $ Revenue 3.00 2.97 3.05 3.30 3.11 2.85 2.95 2.99 2.93 2.79 (0.8%)
Earnings 0.19 0.66 0.76 0.19 1.77 0.07 0.31 (1.15) (1.13) (1.03) n/m
Cash flow 0.99 1.04 1.27 1.33 1.31 1.12 1.22 1.03 1.05 0.67 (4.2%)
Capex 2.91 (0.36) (0.48) (0.89) 0.44 (0.73) (1.18) (0.51) 0.15 (0.23) n/m
Free cash flow 3.90 0.68 0.80 0.44 1.75 0.39 0.04 0.52 1.20 0.45 (21.4%)
Book value 10.76 10.52 10.14 9.59 10.50 9.96 9.52 7.70 6.05 4.60 (9.0%)
Shares, m 175 175 179 176 172 171 171 172 173 173 (0.1%)
Valuation, ×
Valuation, × P/E 91.94 27.50 16.93 82.89 6.69 177.28 20.29 0.00 0.00 0.00 42.4
P/S 5.51 6.12 4.22 4.78 3.83 4.71 2.13 1.84 1.91 1.05 3.6
P/B 1.54 1.72 1.27 1.64 1.13 1.35 0.66 0.72 0.92 0.63 1.2
EV/Sales 8.97 9.44 7.90 8.32 7.16 8.46 5.98 5.87 6.10 6.19 7.4
EV/FCF 6.90 41.04 30.26 62.11 12.70 62.36 428.82 33.61 14.88 38.66 73.1
Cash, $m
Cash, $m Operating cash flow 174 183 227 234 226 191 209 177 181 117 (4.3%)
Capex 509 (63) (85) (157) 76 (125) (202) (87) 26 (39) n/m
Free cash flow 683 120 142 78 302 66 7 90 207 78 (21.5%)
Balance, $m
Balance, $m Working capital 253 283 79 168 93 56 76 142 163 123 (7.7%)
Total debt 2,013 1,931 2,028 2,144 1,831 1,854 1,965 2,139 2,213 2,557 +2.7%
Net debt 1,819 1,729 2,005 2,054 1,784 1,826 1,947 2,071 2,117 2,495 +3.6%
Shareholders’ equity 1,883 1,847 1,811 1,688 1,805 1,701 1,633 1,324 1,045 798 (9.1%)
Returns, %
Returns, % ROA 0.76 2.83 3.32 0.83 7.65 0.31 1.38 (5.19) (5.46) (5.07) (5.8) pt
ROIC 1.00 2.37 0.93 1.92 6.97 1.65 2.09 (0.40) 1.09 0.51 (0.5) pt
ROE 1.72 6.15 7.34 1.94 17.47 0.68 3.20 (13.35) (16.64) (19.48) (21.2) pt
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.14 Actual 0.14

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.15 0.08 Miss by 0.07
Q1 FY26 0.11 0.11 Met by 0.00
Q2 FY26 0.14 0.13 Miss by 0.01
Q3 FY26 0.14 0.14 Met by 0.00
Q4 FY26 0.16 — Reports 2 February 2027

Charts ten years each

Brandywine Realty Trust vs peers in Reit Office (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DEI Douglas Emmett, Inc. $1.7B — (loss-making) — (loss-making) +1.63% (above 0%: growing) n/m +41.06% (above 0%: growing) 63.19% 19.62% Compare
PDM Piedmont Realty Trust, Inc. $1.2B — (loss-making) — (loss-making) +2.73% (above 0%: growing) n/m −9.08% (below 0%: shrinking) 61.15% 14.29% Compare
DEA Easterly Government Properties, Inc. $1.1B 104× 94.9× +9.71% (above 0%: growing) −33.33% (below 0%: shrinking) +106.84% (above 0%: growing) 68.54% 23.79% Compare
PSTL Postal Realty Trust, Inc. $780.8M 40.5× 31.5× +22.40% (above 0%: growing) +25.00% (above 0%: growing) +45.98% (above 0%: growing) 79.73% 39.49% Compare
HPP Hudson Pacific Properties, Inc. $587.0M — (loss-making) — (loss-making) −0.90% (below 0%: shrinking) n/m −100.77% (below 0%: shrinking) 44.94% (5.05%) Compare
BDN Brandywine Realty Trust $516.5M — (loss-making) — (loss-making) +6.92% (above 0%: growing) n/m −1.07% (below 0%: shrinking) 59.27% 15.09%
OPI OFFIC PPTYS IT $281.9M — (loss-making) — +2.04% (above 0%: growing) n/m −358.26% (below 0%: shrinking) 84.14% (0.02%) Compare
NLOP Net Lease Office Properties $143.8M — (loss-making) — −78.21% (below 0%: shrinking) n/m −91.52% (below 0%: shrinking) 86.13% (101.56%) Compare
ONL Orion Office REIT Inc. $122.7M — (loss-making) 103× −8.04% (below 0%: shrinking) n/m +175.48% (above 0%: growing) 63.63% 9.86% Compare
Median of peers $683.9M — 94.9× +1.83% — +15.99% 66.08% 12.08%

All 19 Reit Office stocks →

Brandywine Realty Trust (BDN) key facts

  • Concern: Brandywine Realty Trust’s revenue for fiscal 2025 (year ended December 2025) was $484.5 million, down 4.17% from fiscal 2024.
  • Concern: Brandywine Realty Trust reported a net loss of $178.9 million, or a loss of $1.03 per share, for fiscal 2025.
  • Brandywine Realty Trust (BDN) is a Reit Office company in the Real Estate sector, listed on the New York Stock Exchange.
  • As of October 23, 2026, BDN traded at $2.97, a market capitalization of $516.5 million.
  • Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 1.0× sales.
  • Brandywine Realty Trust pays an annual dividend of $0.32 per share, a yield of 10.8%.
  • Return on equity was −19.5% and debt-to-equity 3.76.
  • Its Piotroski F-score is 3 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Brandywine Realty Trust (BDN) Latest News

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stockrow.com/BDN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com