BrightSpire Capital, Inc. (BRSP) intrinsic value & 10-year financials
BrightSpire Capital, Inc. (BRSP) has a Graham intrinsic value of $7.19 per share. At $3.69 on Oct 17, 2026, the stock trades 49% below that value. Over the last 10 fiscal years revenue grew 8.5% a year to $330.6M, with an average return on invested capital of -1.5%.
- Graham intrinsic value
- $7.19
- Share price (Oct 17, 2026)
- $3.69
- Price vs Graham value
- 49% below
- Market cap
- $468.2M
- Revenue (FY2025)
- $330.6M
- Revenue growth (10-yr CAGR)
- 8.5%
- ROIC (10-yr avg)
- -1.5%
- Free cash flow (FY2025)
- —
BRSP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $330.6M | -$31.1M | -$0.26 | — | — | -0.9% |
| FY2024 | $358.8M | -$132.0M | -$1.05 | — | — | -3.8% |
| FY2023 | $415.1M | -$15.5M | -$0.12 | — | — | -0.4% |
| FY2022 | $364.6M | $45.8M | $0.34 | — | — | 1.1% |
| FY2021 | $194.3M | -$101.0M | -$0.79 | — | — | -2.5% |
| FY2020 | $291.0M | -$353.3M | -$2.75 | — | — | -8.0% |
| FY2019 | $588.6M | -$414.5M | -$3.25 | — | — | -7.9% |
| FY2018 | $500.8M | -$168.5M | — | — | — | -5.0% |
| FY2017 | $189.5M | $88.5M | — | — | — | 6.1% |
| FY2016 | $158.3M | $76.1M | — | — | — | 6.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
BrightSpire Capital, Inc. is a consistent compounder, expanding top-line revenue at 8.5% annually over the past decade.
BrightSpire Capital, Inc. has historically struggled to out-earn its cost of capital, averaging just -2.4% ROIC.
BrightSpire Capital, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, BrightSpire Capital, Inc. is modeled at 8.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $7.19 per share.