Franklin Street Properties Corp. (FSP) vs Orion Office REIT Inc. (ONL)

Franklin Street Properties Corp. and Orion Office REIT Inc. are both Reit Office companies. Orion Office REIT Inc. is the larger, with a market value of $134.1M against $44.3M — 3.0× the size. Franklin Street Properties Corp. grew revenue faster over the last twelve months: −5.43% against −6.34%. Orion Office REIT Inc. has the higher net margin (−19.9% vs −41.1%) and the higher return on invested capital (−0.61% vs −2.65%). Both pay a dividend; Orion Office REIT Inc. yields more (3.00% vs 2.38%). Across the 21 metrics below, Orion Office REIT Inc. leads on 13 and Franklin Street Properties Corp. on 8.

Valuation

Metric FSP ONL Reit Office median
P/E n/m n/m 28.35
P/S 0.42 1.08 2.77
P/B 0.08 0.24 0.82
Price to free cash flow 3.36 2.10 13.95
EV/EBITDA 18.23 19.19 12.41
EV/Sales 2.47 6.21 6.90
Earnings yield (97.02%) (19.10%) (2.06%)
Free cash flow yield 29.74% 47.58% 6.73%

Profitability

Metric FSP ONL Reit Office median
Gross margin 46.13% 59.82% 60.87%
Operating margin (32.03%) (7.33%) 17.78%
Net margin (41.10%) (19.89%) (2.87%)
Free cash flow margin 12.55% 19.04% 14.89%
Return on equity (7.18%) (4.35%) (1.07%)
Return on assets (4.85%) (2.38%) (0.34%)
Return on invested capital (2.65%) (0.61%) 1.33%

Growth

Metric FSP ONL Reit Office median
Revenue growth (TTM) (5.43%) (6.34%) 2.67%
EPS growth (last fiscal year) 15.69% (34.78%) 8.85%
Revenue growth, 5-year CAGR (15.30%) 22.52% 3.91%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric FSP ONL Reit Office median
Debt to equity 0.43 0.69 1.24
Current ratio 2.56 0.00 1.98
Net debt to EBITDA 17.43 (11.84) 6.86

Dividend

Metric FSP ONL Reit Office median
Dividend yield 2.38% 3.00% 4.16%
Payout ratio — — 3.34

Size

Metric FSP ONL Reit Office median
Market cap 44.26m 134.05m 1.22b

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