Brandywine Realty Trust (BDN) vs Orion Office REIT Inc. (ONL)

Brandywine Realty Trust and Orion Office REIT Inc. are both Reit Office companies. Brandywine Realty Trust is the larger, with a market value of $506.0M against $143.8M — 3.5× the size. Brandywine Realty Trust grew revenue faster over the last twelve months: 0.51% against −6.50%. Brandywine Realty Trust has the higher net margin (−28.8% vs −65.7%) and the higher return on invested capital (1.41% vs −4.82%). Both pay a dividend; Brandywine Realty Trust yields more (14.6% vs 8.23%). Across the 20 metrics below, Orion Office REIT Inc. leads on 11 and Brandywine Realty Trust on 9.

Valuation

Metric BDN ONL Reit Office median
P/E n/m n/m 38.94
P/S 1.00 1.00 2.92
P/B 0.72 0.23 0.78
Price to free cash flow 6.14 2.10 14.22
EV/EBITDA 11.33 n/m 12.77
EV/Sales 6.18 4.82 7.03
Earnings yield (28.67%) (66.93%) (3.43%)
Free cash flow yield 16.30% 47.72% 5.85%

Profitability

Metric BDN ONL Reit Office median
Gross margin 60.51% 58.20% 60.53%
Operating margin 14.81% (54.17%) 16.84%
Net margin (28.83%) (65.66%) (8.23%)
Free cash flow margin 16.31% 47.73% 16.39%
Return on equity (18.17%) (13.77%) (2.66%)
Return on assets (4.15%) (7.73%) (0.95%)
Return on invested capital 1.41% (4.82%) 1.32%

Growth

Metric BDN ONL Reit Office median
Revenue growth (TTM) 0.51% (6.50%) 1.08%
EPS growth (last fiscal year) 8.85% (34.78%) —
Revenue growth, 5-year CAGR (1.96%) 22.52% 4.37%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric BDN ONL Reit Office median
Debt to equity 3.76 0.68 1.20
Current ratio 1.67 4.11 2.43
Net debt to EBITDA 11.12 (11.84) 6.91

Dividend

Metric BDN ONL Reit Office median
Dividend yield 14.56% 8.23% 6.16%
Payout ratio 5.43 0.00 1.38

Size

Metric BDN ONL Reit Office median
Market cap 506.02m 143.75m 1.39b

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