Franklin Street Properties Corp. /MA/ (FSP) intrinsic value & 10-year financials
Franklin Street Properties Corp. /MA/ (FSP) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 9.0% a year to $107.2M, with an average return on invested capital of -0.1%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $0.38
- Market cap
- $39.7M
- Revenue (FY2025)
- $107.2M
- Revenue growth (10-yr CAGR)
- -9.0%
- ROIC (10-yr avg)
- -0.1%
- Free cash flow (FY2025)
- -$12.7M
FSP 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $107.2M | -$45.0M | -$0.43 | -$12.7M | — | -7.1% |
| FY2024 | $120.1M | -$52.7M | -$0.51 | -$16.2M | — | -7.7% |
| FY2023 | $145.7M | -$48.1M | -$0.47 | -$13.8M | — | -6.5% |
| FY2022 | $165.6M | $1.1M | $0.01 | -$39.7M | — | 0.1% |
| FY2021 | $209.4M | $92.7M | $0.87 | -$28.5M | — | 12.0% |
| FY2020 | $245.8M | $32.6M | $0.30 | -$9.5M | — | 4.2% |
| FY2019 | $269.1M | $6.5M | $0.06 | $11.2M | — | 0.8% |
| FY2018 | $268.9M | $13.1M | — | $29.1M | 2.5% | 0.8% |
| FY2017 | $272.6M | -$15.9M | — | $41.7M | 3.1% | 0.9% |
| FY2016 | $249.9M | $8.4M | — | $57.0M | 4.3% | 1.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
FRANKLIN STREET PROPERTIES CORP /MA/ is facing top-line stagnation, with revenue contracting over the decade.
FRANKLIN STREET PROPERTIES CORP /MA/ 10-year average ROIC is N/A; capital efficiency cannot be assessed from the available history.
FRANKLIN STREET PROPERTIES CORP /MA/ 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, FRANKLIN STREET PROPERTIES CORP /MA/ is modeled at -9.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-0.08 per share.