Franklin Street Properties Corp. (FSP) vs Hudson Pacific Properties, Inc. (HPP)

Franklin Street Properties Corp. and Hudson Pacific Properties, Inc. are both Reit Office companies. Hudson Pacific Properties, Inc. is the larger, with a market value of $486.0M against $44.3M — 11.0× the size. Hudson Pacific Properties, Inc. grew revenue faster over the last twelve months: 2.85% against −5.43%. Franklin Street Properties Corp. has the higher net margin (−41.1% vs −81.0%) and the lower return on invested capital (−2.65% vs 0.18%). Only Franklin Street Properties Corp. pays a dividend (2.38%). Across the 21 metrics below, Franklin Street Properties Corp. leads on 12 and Hudson Pacific Properties, Inc. on 9.

Valuation

Metric FSP HPP Reit Office median
P/E n/m n/m 28.35
P/S 0.42 0.67 2.77
P/B 0.08 0.23 0.82
Price to free cash flow 3.36 3.82 13.95
EV/EBITDA 18.23 10.14 12.41
EV/Sales 2.47 4.65 6.90
Earnings yield (97.02%) (121.23%) (2.06%)
Free cash flow yield 29.74% 26.17% 6.73%

Profitability

Metric FSP HPP Reit Office median
Gross margin 46.13% 49.68% 60.87%
Operating margin (32.03%) 2.14% 17.78%
Net margin (41.10%) (80.99%) (2.87%)
Free cash flow margin 12.55% 16.97% 14.89%
Return on equity (7.18%) (24.42%) (1.07%)
Return on assets (4.85%) (8.85%) (0.34%)
Return on invested capital (2.65%) 0.18% 1.33%

Growth

Metric FSP HPP Reit Office median
Revenue growth (TTM) (5.43%) 2.85% 2.67%
EPS growth (last fiscal year) 15.69% 29.05% 8.85%
Revenue growth, 5-year CAGR (15.30%) 0.64% 3.91%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric FSP HPP Reit Office median
Debt to equity 0.43 1.23 1.24
Current ratio 2.56 1.33 1.98
Net debt to EBITDA 17.43 8.89 6.86

Dividend

Metric FSP HPP Reit Office median
Dividend yield 2.38% 0.00% 4.16%
Payout ratio — — 3.34

Size

Metric FSP HPP Reit Office median
Market cap 44.26m 485.99m 1.22b

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