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Saul Centers, Inc.

BFS Real Estate Reit Retail

Saul Centers, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $289.8 million, up 7.81% from fiscal 2024. In the quarter to June 2026, revenue grew 8.41%, EPS fell 27.3%, free cash flow grew 724.3% and total debt rose 2.52%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for five; insiders bought in the last twelve months.

29.52 0.38 +1.30%
Market cap
$720.3M
P/E
30.4×
Fwd P/E
57.9×
Dividend yield
7.99%
F-score
5/9
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 0.33
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 5 — — — 1 — 1 — — — 1 —
Sell — — — — — — — — — — — —
Insider Ownership 45.27%

Capital & Financial Ratios $m

Market Cap 720.25
Revenue 302.20
Net Income 45.78
Free Cash Flow 45.58
Net Debt 1,598.27
Current Ratio 1.62
Debt/Equity 3.42
P/E ratio 30.43
Fwd P/E 57.90 (above 35: high)
P/S ratio 2.38
P/B ratio 2.53
Past 5Y EPS Growth (2.70%) (below 0%: weak)
This Y EPS Growth (47.71%) (below 0%: weak)
Next Y EPS Growth 40.35% (at or above 15%: strong)
Next Y revenue growth 7.44%
Next 5Y EPS Growth (1.55%) (below 0%: weak)

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

Valuation vs history

EV/Sales, ten years
EV/Sales is 7.7×, against a ten-year median of 9.3×; over the ten years it ranged from 7.6× in 2020 to 11.8× in 2021.
P/E against its own 10 years 49.35%
10-year low 10-year high
P/S against its own 10 years 0.11%
10-year low 10-year high
P/B against its own 10 years 4.39%
10-year low 10-year high
EV/Sales against its own 10 years 1.14%
10-year low 10-year high
EV/FCF against its own 10 years 26.00%
10-year low 10-year high

Dividends

Payout Ratio 2.43
Annual Dividend Rate 2.36
Annual Dividend Yield 7.99%
total individual payouts
2027 Powerpack
2026 2.36
0.59
0.59
0.59
0.59
2025 2.36
0.59
0.59
0.59
0.59
2024 2.36
0.59
0.59
0.59
0.59
2023 2.36
0.59
0.59
0.59
0.59
2022 2.32
0.57
0.57
0.59
0.59
2021 2.16
0.53
0.53
0.55
0.55
2020 2.12
0.53
0.53
0.53
0.53
2019 2.12
0.53
0.53
0.53
0.53
2018 2.08
0.52
0.52
0.52
0.52
2017 2.55
0.51
0.51
0.51
0.51
0.51
2016 1.84
0.43
0.47
0.47
0.47
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 8 10 9 6
Receivables 56 51 61 63
Inventory — — — —
Other — — — —
64 61 70 69
2023 2024 2025 Q'26
Payables 57 46 37 42
ST’ Debt — — — —
Other — — — —
57 46 37 42

Compound Annual Growth %

10y 5y 3y
Sales 3.32% 5.18% 5.64%
Cash Flow 1.16% 4.95% (6.26%)
Earnings (1.33%) (2.05%) (12.29%)
Book Value 3.04% 2.22% (2.93%)

Revenue $m

Mar Jun Sep Dec Year
’26 78 77 — — —
’25 72 71 72 75 290
’24 67 67 67 68 269
’23 63 64 64 67 257
’22 62 60 61 62 246
’21 59 60 60 60 239
’20 57 53 57 58 225
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 29 31 — — —
’25 30 27 21 22 100
’24 34 32 26 29 121
’23 36 33 16 33 118
’22 40 27 26 29 121
’21 35 32 22 29 118
’20 26 16 15 22 78
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 22 22 — — —
’25 6 (3) 1 0 4
’24 (12) (12) (28) (15) (68)
’23 (7) (24) (32) (24) (86)
’22 23 (9) (7) (3) 4
’21 16 23 11 12 63
’20 4 (2) 6 14 22
Fiscal quarters ending in the months shown.

EPS $

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
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 46.46 55.86 45.49 45.67 23.49 29.65 36.21 32.13 34.87 29.16

Analyst estimates 2026–2028

Powerpack
High 68.75 67.80 63.45 58.49 57.16 54.46 56.22 43.95 42.39 38.89
People
People Employees 58 65 65 67 60 65 70 71 149 168
Revenue/emp, $m 3.74 3.48 3.50 3.46 3.75 3.68 3.51 3.62 1.80 1.73
Income, $m
Income, $m Revenue 217 226 227 232 225 239 246 257 269 290
Gross margin, % 75.94 75.83 75.54 74.98 74.06 74.24 73.76 73.90 73.20 70.85
EBT 56 61 63 64 50 62 65 69 68 49
EBT margin, % 25.67 26.81 27.75 27.73 22.22 25.77 26.60 26.84 25.18 16.98
Net income 57 61 63 64 50 62 65 69 68 49
Depreciation 46 47 47 48 53 52 51 51 53 62
Per share, $
Per share, $ Revenue 10.09 10.33 10.15 7.50 7.20 7.47 10.26 7.68 7.79 8.29
Earnings 1.53 1.63 1.61 1.58 1.25 1.57 1.63 1.73 1.64 1.09
Cash flow 4.14 4.72 4.93 3.74 2.51 3.70 5.06 3.52 3.51 2.85
Capex (4.01) (5.17) (5.75) (4.39) (1.80) (1.75) (4.88) (6.08) (5.47) (2.74)
Free cash flow 0.13 (0.45) (0.82) (0.66) 0.71 1.95 0.18 (2.57) (1.96) 0.11
Book value 17.36 17.95 19.00 14.36 13.67 16.56 21.77 15.07 14.52 13.65
Shares, m 22 22 22 31 31 32 24 33 35 35
Valuation, ×
Valuation, × P/E 43.11 37.95 29.33 33.41 25.34 33.56 24.97 22.74 23.80 28.93
P/S 6.54 5.99 4.65 7.04 4.40 7.10 3.97 5.12 4.98 3.80
P/B 7.34 6.36 4.31 6.31 4.08 4.92 2.90 4.12 4.24 3.77
EV/Sales 10.65 10.17 9.08 11.69 9.39 11.82 8.89 10.48 10.64 9.30
EV/FCF 820.47 (233.61) (112.73) (133.46) 95.19 45.23 512.54 (31.36) (42.38) 676.95
Cash, $m
Cash, $m Operating cash flow 89 103 110 115 78 118 121 118 121 100
Capex (86) (113) (129) (136) (56) (56) (117) (204) (189) (96)
Free cash flow 3 (10) (18) (20) 22 63 4 (86) (68) 4
Balance, $m
Balance, $m Working capital 40 42 36 31 67 48 27 7 15 33
Total debt 900 959 1,022 1,091 1,151 1,144 1,223 1,387 1,533 1,602
Net debt 892 948 1,007 1,077 1,124 1,129 1,210 1,379 1,522 1,593
Shareholders’ equity 373 393 425 443 428 530 522 504 501 477
Returns, %
Returns, % ROA 2.49 2.59 2.44 2.30 1.79 2.19 2.18 2.17 1.92 1.23
ROIC 2.75 2.82 2.73 2.66 2.02 2.32 2.38 2.29 2.09 1.48
ROE 17.93 17.66 15.69 14.40 11.65 12.65 11.43 12.65 12.42 8.65
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Saul Centers, Inc. vs peers in Reit Retail (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
UE Urban Edge Properties $2.6B 36.1× 42.4× +7.62% (above 0%: growing) −69.57% (below 0%: shrinking) −84.13% (below 0%: shrinking) 70.52% 31.44% Compare
FCPT Four Corners Property Trust, Inc. $2.4B 19.8× 20.9× +7.65% (above 0%: growing) −3.57% (below 0%: shrinking) +15.78% (above 0%: growing) 85.43% 55.08% Compare
IVT InvenTrust Properties Corp. $2.3B 151× 192× +12.62% (above 0%: growing) −98.39% (below 0%: shrinking) −134.17% (below 0%: shrinking) 72.76% 15.29% Compare
NTST NETSTREIT Corp. $1.8B 120× 60.6× +26.92% (above 0%: growing) +50.00% (above 0%: growing) −756.51% (below 0%: shrinking) 90.67% 32.17% Compare
GTY Getty Realty Corporation $1.8B 17.2× 22.6× +10.88% (above 0%: growing) +50.00% (above 0%: growing) −85.46% (below 0%: shrinking) 96.01% 59.10% Compare
CBL CBL & Associates Properties, Inc. $1.5B 7.0× 14.9× +3.96% (above 0%: growing) +1,775.00% (above 0%: growing) +40.87% (above 0%: growing) 65.39% 30.53% Compare
ALX Alexander's, Inc. $1.2B 7.1× — (loss-making) +6.05% (above 0%: growing) +2,441.18% (above 0%: growing) +520.77% (above 0%: growing) 51.12% 30.11% Compare
BFS Saul Centers, Inc. $720.3M 30.4× 57.9× +8.41% (above 0%: growing) −27.27% (below 0%: shrinking) +724.34% (above 0%: growing) 70.88% 15.04%
PINE Alpine Income Property Trust, Inc. $320.7M 81.4× 37.9× +34.58% (above 0%: growing) n/m −149.47% (below 0%: shrinking) 89.58% 43.53% Compare
Median of peers $1.8B 28.0× 37.9× +9.27% +50.00% −84.79% 79.10% 31.81%

All 26 Reit Retail stocks →

Saul Centers, Inc. (BFS) key facts

  • Strength: Saul Centers, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $289.8 million, up 7.81% from fiscal 2024.
  • Saul Centers, Inc. (BFS) is a Reit Retail company in the Real Estate sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, BFS traded at $29.52, a market capitalization of $720.3 million.
  • Saul Centers, Inc. pays an annual dividend of $2.36 per share, a yield of 7.99%.
  • Return on equity was 8.65% and debt-to-equity 3.42.
  • Its Piotroski F-score is 5 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Saul Centers, Inc. (BFS) Latest News

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