Jbg Smith Properties (JBGS) intrinsic value & 10-year financials
Jbg Smith Properties (JBGS) has a Graham intrinsic value of $5.69 per share. At $11.15 on Oct 17, 2026, the stock trades 96% above that value. Over the last 10 fiscal years revenue grew 0.5% a year to $498.6M, with an average return on invested capital of -1.6%.
- Graham intrinsic value
- $5.69
- Share price (Oct 17, 2026)
- $11.15
- Price vs Graham value
- 96% above
- Market cap
- $751.1M
- Revenue (FY2025)
- $498.6M
- Revenue growth (10-yr CAGR)
- 0.5%
- ROIC (10-yr avg)
- -1.6%
- Free cash flow (FY2025)
- —
JBGS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $498.6M | -$139.1M | -$2.09 | — | — | -9.4% |
| FY2024 | $547.3M | -$143.5M | -$1.65 | — | — | -7.1% |
| FY2023 | $604.2M | -$80.0M | -$0.78 | — | — | -3.3% |
| FY2022 | $605.8M | $85.4M | $0.70 | — | — | 3.1% |
| FY2021 | $634.4M | -$79.3M | -$0.63 | — | — | -2.6% |
| FY2020 | $602.7M | -$62.3M | -$0.49 | — | — | -1.9% |
| FY2019 | $647.8M | $65.6M | $0.48 | — | — | 2.1% |
| FY2018 | $644.2M | $39.9M | $0.31 | — | — | 1.3% |
| FY2017 | $543.0M | -$71.8M | -$0.70 | — | -9.6% | -1.4% |
| FY2016 | $478.5M | $62.0M | $0.62 | — | 23.6% | 3.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
JBG SMITH Properties has demonstrated mature, steady growth, with revenue compounding at 0.5% annually over the past decade.
JBG SMITH Properties has historically struggled to out-earn its cost of capital, averaging just 1.0% ROIC.
Over the decade, JBG SMITH Properties shows that management has aggressively returned capital to shareholders by retiring 33.0% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, JBG SMITH Properties is modeled at 0.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $5.69 per share.