| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | 5 | — | — | — | 1 | — | 1 | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2027 | ‡‡‡‡ |
|
| 2026 | 2.21 |
—
—
—
|
| 2025 | 2.36 |
—
—
—
—
|
| 2024 | 2.36 |
—
—
—
—
|
| 2023 | 2.36 |
—
—
—
—
|
| 2022 | 2.32 |
—
—
—
—
|
| 2021 | 2.16 |
—
—
—
—
|
| 2020 | 2.12 |
—
—
—
—
|
| 2019 | 2.12 |
—
—
—
—
|
| 2018 | 2.08 |
—
—
—
—
|
| 2017 | 2.55 |
—
—
—
—
—
|
| 2016 | 1.84 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 8.41 | 10.30 | 8.74 | 5.88 |
| Receivables | 56.03 | 50.95 | 60.80 | 62.79 |
| Inventory | — | — | — | — |
| Other | — | — | — | — |
| 64.44 | 61.25 | 69.54 | 68.67 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 57.02 | 46.16 | 36.62 | 42.35 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 57.02 | 46.16 | 36.62 | 42.35 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Earnings | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 78.26 | 76.79 | — | — |
—
|
| ’25 | 71.86 | 70.83 | 72.00 | 75.15 |
289.84
|
| ’24 | 66.69 | 66.94 | 67.29 | 67.92 |
268.85
|
| ’23 | 63.05 | 63.71 | 63.77 | 66.68 |
257.21
|
| ’22 | 62.14 | 60.29 | 61.09 | 62.34 |
245.86
|
| ’21 | 58.72 | 60.00 | 60.26 | 60.24 |
239.23
|
| ’20 | 56.94 | 53.22 | 56.76 | 58.28 |
225.21
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 29.29 | 30.77 | — | — |
—
|
| ’25 | 30.37 | 26.60 | 20.63 | 22.19 |
99.80
|
| ’24 | 33.83 | 32.13 | 26.49 | 28.78 |
121.22
|
| ’23 | 36.10 | 32.59 | 16.35 | 32.69 |
117.73
|
| ’22 | 39.97 | 26.51 | 25.53 | 29.14 |
121.15
|
| ’21 | 34.78 | 31.88 | 22.37 | 29.41 |
118.43
|
| ’20 | 26.05 | 15.70 | 15.02 | 21.60 |
78.37
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 22.28 | 21.73 | — | — |
—
|
| ’25 | 5.89 | (3.48) | 1.09 | 0.48 |
3.98
|
| ’24 | (11.74) | (12.49) | (28.33) | (14.94) |
(67.51)
|
| ’23 | (7.06) | (23.62) | (31.55) | (23.73) |
(85.95)
|
| ’22 | 23.14 | (8.57) | (7.07) | (3.24) |
4.26
|
| ’21 | 15.86 | 23.28 | 11.09 | 12.28 |
62.51
|
| ’20 | 4.46 | (1.64) | 5.59 | 13.81 |
22.22
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 0.26 | 0.24 | — | — |
—
|
| ’25 | 0.29 | 0.33 | 0.32 | 0.15 |
1.09
|
| ’24 | 0.45 | 0.48 | 0.48 | 0.22 |
1.63
|
| ’23 | 0.45 | 0.43 | 0.42 | 0.43 |
1.73
|
| ’22 | 0.44 | 0.43 | 0.38 | 0.38 |
1.63
|
| ’21 | 0.32 | 0.42 | 0.44 | 0.40 |
1.57
|
| ’20 | 0.45 | 0.24 | 0.28 | 0.28 |
1.25
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 36.21 | 32.13 | 34.87 | 29.16 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 56.22 | 43.95 | 42.39 | 38.89 | — | — | — |
High Price
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 70 | 71 | 149 | 168 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.51 | 3.62 | 1.80 | 1.73 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 245.86 | 257.21 | 268.85 | 289.84 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 73.76% | 73.90% | 73.20% | 70.85% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 65.39 | 69.03 | 67.70 | 49.22 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26.60% | 26.84% | 25.18% | 16.98% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 65.39 | 69.03 | 67.70 | 49.22 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 50.95 | 50.68 | 52.86 | 61.75 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 10.26 | 7.68 | 7.79 | 8.29 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 1.63 | 1.73 | 1.64 | 1.09 | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.06 | 3.52 | 3.51 | 2.85 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (4.88) | (6.08) | (5.47) | (2.74) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.18 | (2.57) | (1.96) | 0.11 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 21.77 | 15.07 | 14.52 | 13.65 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 23.96 | 33.47 | 34.51 | 34.97 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24.97 | 22.74 | 23.80 | 28.93 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.97 | 5.12 | 4.98 | 3.80 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.90 | 4.12 | 4.24 | 3.77 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.06 | 10.51 | 10.67 | 9.33 | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 522.39 | (31.45) | (42.50) | 678.96 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 121.15 | 117.73 | 121.22 | 99.80 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (116.89) | (203.68) | (188.73) | (95.81) | — | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.26 | (85.95) | (67.51) | 3.98 | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 26.62 | 7.42 | 15.09 | 32.92 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,264.90 | 1,387.00 | 1,532.62 | 1,601.80 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,251.62 | 1,378.59 | 1,522.32 | 1,593.06 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 521.80 | 504.43 | 501.12 | 477.26 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.18% | 2.17% | 1.92% | 1.23% | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.33% | 2.29% | 2.09% | 1.48% | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11.43% | 12.65% | 12.42% | 8.65% | — | — | — |
ROE
|
Saul Centers, Inc. (BFS), a REIT specializing in grocery-anchored shopping centers in the Washington, D.C. metro area, stands out as a resilient value play amid retail sector turbulence. Revenue has grown steadily at a 3% CAGR to $269 million in 2024, with analysts forecasting 6-7% annual increases through 2027, fueled by same-store growth, lease escalators, and strategic developments. Gross margins remain robust at 73-76%, underscoring operational efficiency in a high-interest-rate environment, while operating cash flow has risen 36% since 2016.
Despite solid fundamentals, challenges include surging capex driving negative free cash flow and a 65% debt increase to $1.53 billion, alongside projected EPS declines to around $1.00 by 2027 due to depreciation and interest costs. Yet, insiders signal strong conviction with over $615,000 in recent buys by CEO, COO, CFO, and others—no sells in sight. Valuation metrics scream bargain: PE at 24x, PS at 3.5x, and 25-36% upside to analyst targets, as the stock lags revenue gains and trades near 2024 lows.
With grocery anchors proving recession-resistant and D.C. suburb demand rising, BFS offers defensive retail exposure, juicy dividends, and rerating potential if rates ease. High insider alignment and development payoffs could deliver 30%+ near-term gains, making it a compelling hold for patient investors—watch upcoming earnings for catalysts.
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