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BrightSpire Capital, Inc.

BRSP Real Estate Reit Mortgage

BrightSpire Capital, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $203.3 million, down 0.77% from fiscal 2024.

Revenue
−5.94%
EPS
+3,762.0%
Free cash flow
+122.6%
Total debt
+38.0%

Quarter to September 2026, against a year earlier

3.39 0.07 −2.02%
Market cap
$431.4M
P/E
23.7×
Fwd P/E
11.9×
Dividend yield
18.5%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 1.12%

Capital & Financial Ratios $m

Size
Market Cap 431.38
Revenue ttm 201.29
Net income ttm 14.18
Free cash flow ttm 250.96
Net debt Q 2,244.99
Valuation
P/E 23.67
Forward P/E 11.90
Price / sales 2.10
Forward P/S Powerpack
Price / FCF 1.69
Price / book 0.49
Financial health
Current ratio Q 0.82
Debt / equity Q 2.79
Interest coverage Q —
Growth
Revenue growth Q −5.94% (below 0%: shrinking)
Operating income growth Q −564.99% (below 0%: shrinking)
EPS, this year −17.41% (below 0%: weak)
EPS, next year A +14.05%
Revenue, next year A +70.28% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +0.52%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 13.3×, against a ten-year median of 11.0×; over the ten years it ranged from 3.6× in 2020 to 15.4× in 2022.
P/S against its own 10 years 3.50%
10-year low 10-year high
P/B against its own 10 years 8.81%
10-year low 10-year high
EV/Sales against its own 10 years 82.71%
10-year low 10-year high
EV/FCF against its own 10 years 33.38%
10-year low 10-year high

Dividends

Yield
18.5%
Annual rate
0.64
Payout ratio
443.5%
Growth, 2018–25
−12.2%/yr
  1. 1.60 ’18
  2. 1.65 ’19 +3
  3. 0.30 ’20 −82
  4. 0.58 ’21 +93
  5. 0.79 ’22 +36
  6. 0.80 ’23 +1
  7. 0.72 ’24 −10
  8. 0.64 ’25 −11
  9. 0.64 ’26e +0
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 362 451 174 178
Receivables 41 39 46 39
Inventory — — — —
Other — — — —
404 489 219 217
2023 2024 2025 Q'26
Payables — — — —
ST’ Debt — — — —
Other — — — —
736 702 478 265

Compound Annual Growth %

10y 5y 3y
Sales 6.08% (6.15%) (3.09%)
Cash Flow 1.22% (5.39%) (16.47%)
Earnings 0.00% 0.00% 0.00%
Book Value (1.05%) (13.87%) (12.57%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.14 Actual 0.08

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.16 0.15 Miss by 0.01
Q1 FY26 0.15 0.14 Miss by 0.01
Q2 FY26 0.14 0.13 Miss by 0.01
Q3 FY26 0.14 0.08 Miss by 0.06
Q4 FY26 0.13 — Reports 16 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.03 (0.15) 0.38 — —
’25 0.04 (0.19) 0.01 (0.12) (0.26)
’24 (0.45) (0.53) 0.09 (0.16) (1.05)
’23 (0.03) (0.06) 0.09 (0.13) (0.12)
’22 0.21 0.26 (0.16) 0.03 0.34
’21 (0.71) (0.15) (0.54) 0.63 (0.79)
’20 (0.62) (1.77) 0.04 (0.41) (2.75)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 52 49 49 — —
’25 45 54 53 51 203
’24 56 53 49 47 205
’23 59 55 59 60 233
’22 54 55 55 59 223
’21 50 52 61 62 224
’20 90 60 67 62 279
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 11 29 17 — —
’25 11 17 30 15 73
’24 25 23 31 25 103
’23 40 23 38 36 138
’22 32 22 34 36 125
’21 2 (130) 58 50 (21)
’20 57 (28) 15 51 96
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 35 29 138 — —
’25 13 12 62 49 136
’24 22 23 48 24 117
’23 38 19 38 35 131
’22 31 22 89 35 177
’21 0 203 380 49 301
’20 207 (15) (166) 503 528
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
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 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 116 144 298 354 279 224 223 233 205 203 201 +6.4% 346 287 — +18.9%
Gross margin, % 99.22 94.45 60.74 56.16 66.07 82.23 89.16 88.55 83.46 67.58 61.56 (31.6) pt
EBT 94 105 (164) (496) (251) 33 49 (24) (134) (60) 15 n/m
EBT margin, % 81.32 73.31 (55.14) (140.24) (90.01) 14.62 22.03 (10.15) (65.62) (29.64) 7.39 (111.0) pt
Net income 109 128 (177) (463) (376) (105) 47 (16) (136) (39) 14 n/m
Per share, $
Per share, $ Revenue 2.62 3.24 2.47 2.76 2.17 1.75 1.75 1.83 1.61 1.60 1.65 (5.3%)
Earnings 1.60 1.86 (1.41) (3.25) (2.75) (0.79) 0.35 (0.12) (1.05) (0.26) 0.15 n/m
Cash flow 1.99 2.41 0.83 1.07 0.75 (0.17) 0.98 1.08 0.81 0.58 0.59 (12.9%)
Capex 0.00 0.19 (3.44) 0.48 3.36 2.51 0.41 (0.06) 0.11 0.50 1.46 n/m
Free cash flow 1.99 2.60 (2.61) 1.54 4.11 2.34 1.39 1.03 0.92 1.07 2.05 (6.7%)
Book value 27.83 31.70 23.58 17.15 15.24 11.61 10.91 10.06 8.21 7.32 7.11 (13.8%)
Shares, m 44 44 121 128 129 128 127 127 127 127 125 +12.4%
Valuation, ×
Valuation, × P/E 7.08 7.08 0.00 0.00 0.00 0.00 18.56 0.00 0.00 0.00 23.67 3.3
P/S 6.30 6.30 6.40 4.77 3.45 5.87 3.60 4.01 3.51 3.49 2.10 4.8
P/B 0.64 0.64 0.67 0.77 0.49 0.88 0.58 0.73 0.69 0.77 0.49 0.7
EV/Sales 5.17 5.17 7.60 8.00 5.09 15.05 13.04 11.33 10.45 12.75 13.26 9.4
EV/FCF 6.38 6.38 (7.20) 14.27 2.69 5.34 16.46 20.19 18.31 19.07 10.63 10.2
Cash, $m
Cash, $m Operating cash flow 89 107 101 137 96 (21) 125 138 103 73 72 (2.1%)
Capex 0 9 (415) 61 431 322 52 (7) 14 63 179 n/m
Free cash flow 88 116 (314) 198 528 301 177 131 117 136 251 +4.9%
Balance, $m
Balance, $m Working capital 1,717 1,321 2,977 1,314 1,600 354 (305) (332) (212) (258) (48) n/m
Net debt 274 (162) 357 1,141 457 2,059 2,109 1,703 1,422 1,881 2,245 +23.9%
Shareholders’ equity 1,236 1,408 2,845 2,201 1,959 1,491 1,389 1,278 1,046 928 870 (3.1%)
Returns, %
Returns, % ROA 4.06 4.86 (3.21) (5.16) (5.19) (1.71) 0.88 (0.35) (3.33) (0.85) 0.55 (4.9) pt
ROIC 3.91 5.31 (3.18) (9.39) (2.12) (0.82) 0.26 (0.51) (3.41) (1.29) (0.93) (5.2) pt
ROE 6.71 6.70 (7.92) (16.43) (16.99) (5.86) 3.18 (1.17) (11.36) (3.16) 2.08 (9.9) pt
People
People Employees 575 — 0 450 — 55 54 55 49 47 — (24.3%)
Revenue/emp, $m 0.20 0.00 0.00 0.79 0.00 4.08 4.14 4.23 4.18 4.33 — +40.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

BrightSpire Capital, Inc. vs peers in Reit Mortgage (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
IVR INVESCO MORTGAGE CAPITAL INC $595.7M — (loss-making) 6.8× +35.72% (above 0%: growing) n/m +3.93% (above 0%: growing) 34.28% 29.04% Compare
ADAM Adamas Trust, Inc. $534.6M — (loss-making) 5.0× +12.82% (above 0%: growing) n/m −119.68% (below 0%: shrinking) 25.11% (89.42%) Compare
TRTX TPG RE Finance Trust, Inc. $532.3M 16.3× 12.3× −5.07% (below 0%: shrinking) −46.65% (below 0%: shrinking) −40.71% (below 0%: shrinking) 100.00% 50.23% Compare
FBRT Franklin BSP Realty Trust, Inc. $475.2M — (loss-making) 12.7× −16.32% (below 0%: shrinking) n/m +34.53% (above 0%: growing) 92.17% 25.20% Compare
BRSP BrightSpire Capital, Inc. $431.4M 23.7× 11.9× −5.94% (below 0%: shrinking) +3,762.00% (above 0%: growing) +122.61% (above 0%: growing) 61.25% (26.51%)
RWT Redwood Trust, Inc. $390.7M — (loss-making) 12.8× −86.45% (below 0%: shrinking) n/m −77.33% (below 0%: shrinking) 100.00% (4.68%) Compare
KREF KKR Real Estate Finance Trust $329.7M — (loss-making) — (loss-making) −21.85% (below 0%: shrinking) n/m −194.41% (below 0%: shrinking) 100.00% (3.15%) Compare
ARI Apollo Commercial Real Estate Finance $309.8M 3.0× 10.2× −37.40% (below 0%: shrinking) −8.33% (below 0%: shrinking) −20.13% (below 0%: shrinking) 91.99% 16.46% Compare
ABR Arbor Realty Trust $305.7M — (loss-making) — (loss-making) −6.33% (below 0%: shrinking) n/m +22.05% (above 0%: growing) 14.29% (18.36%) Compare
Median of peers $432.9M — 11.3× −11.32% — −30.42% 92.08% 6.66%

All 37 Reit Mortgage stocks →

Pay and ownership Proxy statement filed 1 April 2026

Ownership

Directors and executive officers, together 2.81%
The Vanguard Group 9.23%
BlackRock, Inc. 8.67%
Nut Tree Capital Management, LP 8.44%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

BrightSpire Capital, Inc. (BRSP) Latest News

29 Oct

Impact 3 · · MarketBeat

28 Oct

Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby
Impact 3 · · Simply Wall St.
Impact 3 · · Associated Press

27 Oct

Impact 4 · · Business Wire earnings
Impact 3 · · Zacks

26 Sep

Impact 3 · · Insider Monkey

21 Sep

Impact 4 · · Business Wire

29 Jul

Impact 3 · transcript
Impact 3 · · MarketBeat transcript

28 Jul

Impact 3 ·
Impact 3 ·

30 Apr

Impact 4 · · GuruFocus.com

29 Apr

Impact 4 · · Moby
Impact 3 · · MarketBeat

28 Apr

Impact 4 · · Zacks
Impact 4 · · Business Wire
Impact 4 · · The Motley Fool transcript

20 Feb

Impact 3 · · GuruFocus.com

18 Feb

Impact 4 · · MarketBeat
Impact 4 · · Moby

17 Feb

Impact 4 · · Business Wire
Impact 4 · · Business Wire
Impact 3 · · Zacks
Impact 3 · · Associated Press Finance

10 Feb

Impact 3 · · ZacksZacksZacksZacksZacksZacksZacksZacks

30 Jan

Impact 4 · · Simply Wall St.
Impact 4 · · Insider Monkey

15 Dec

Impact 3 · · Business WireSimply Wall St.Simply Wall St.Simply Wall St.GuruFocus.comBenzingaGuruFocus.comMT Newswires
stockrow.com/BRSP · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com