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Stocks · Real estate · Real Estate Investment Trusts

BRANDYWINE REALTY TRUST

BDN Clue Score22
United States Fiscal year ends December CIK 0000790816
$2.68 -2.19% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $2.68 −80.79% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 11 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue525.5Operating income185.4Net income40.2EPS, diluted0.19Fiscal year 2017Revenue520.5 −0.9%Operating income135.5Net income120.2 +199.0%EPS, diluted0.65 +242.1%Fiscal year 2018Revenue544.3 +4.6%Operating income56.7Net income134.5 +11.9%EPS, diluted0.75 +15.4%Fiscal year 2019Revenue580.4 +6.6%Operating income114.8Net income34.3 −74.5%EPS, diluted0.19 −74.7%Fiscal year 2020Revenue534.9 −7.9%Operating income400.5Net income305.5 +791.6%EPS, diluted1.77 +831.6%Fiscal year 2021Revenue486.8 −9.0%Operating income93.3Net income12.3 −96.0%EPS, diluted0.07 −96.0%Fiscal year 2022Revenue506.1 +4.0%Operating income119.7Net income53.8 +338.0%EPS, diluted0.31 +342.9%Fiscal year 2023Revenue514.7 +1.7%Operating income−21.6Net income−196.8 −465.6%EPS, diluted−1.15 −471.0%Fiscal year 2024Revenue505.5 −1.8%Operating income54.9Net income−195.9EPS, diluted−1.14Fiscal year 2025Revenue484.5 −4.2%Operating income26.7Net income−178.2EPS, diluted−1.03
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 525.5 520.5 544.3 580.4 534.9 486.8 506.1 514.7 505.5 484.5
Growth −0.9% +4.6% +6.6% −7.9% −9.0% +4.0% +1.7% −1.8% −4.2%
Operating income 185.4 135.5 56.7 114.8 400.5 93.3 119.7 −21.6 54.9 26.7
Net income 40.2 120.2 134.5 34.3 305.5 12.3 53.8 −196.8 −195.9 −178.2
Growth +199.0% +11.9% −74.5% +791.6% −96.0% +338.0% −465.6%
EPS, diluted 0.19 0.65 0.75 0.19 1.77 0.07 0.31 −1.15 −1.14 −1.03
Growth +242.1% +15.4% −74.7% +831.6% −96.0% +342.9% −471.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin60.1%Operating margin35.3%Net margin7.6%Fiscal year 2017Gross margin60.4%Operating margin26.0%Net margin23.1%Fiscal year 2018Gross margin59.9%Operating margin10.4%Net margin24.7%Fiscal year 2019Gross margin61.1%Operating margin19.8%Net margin5.9%Fiscal year 2020Gross margin61.6%Operating margin74.9%Net margin57.1%Fiscal year 2021Gross margin61.3%Operating margin19.2%Net margin2.5%Fiscal year 2022Gross margin61.6%Operating margin23.7%Net margin10.6%Fiscal year 2023Gross margin63.1%Operating margin−4.2%Net margin−38.2%Fiscal year 2024Gross margin62.9%Operating margin10.9%Net margin−38.8%Fiscal year 2025Gross margin61.8%Operating margin5.5%Net margin−36.8%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 60.1% 60.4% 59.9% 61.1% 61.6% 61.3% 61.6% 63.1% 62.9% 61.8%
Operating margin 35.3% 26.0% 10.4% 19.8% 74.9% 19.2% 23.7% −4.2% 10.9% 5.5%
Net margin 7.6% 23.1% 24.7% 5.9% 57.1% 2.5% 10.6% −38.2% −38.8% −36.8%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow173.8Buybacks0.0Dividends paid−115.7Fiscal year 2017Operating cash flow182.6Buybacks0.0Dividends paid−116.3Fiscal year 2018Operating cash flow227.3Buybacks−21.8Dividends paid−128.9Fiscal year 2019Operating cash flow234.2Buybacks−17.3Dividends paid−134.1Fiscal year 2020Operating cash flow225.8Buybacks−60.0Fiscal year 2021Operating cash flow190.9Buybacks0.0Fiscal year 2022Operating cash flow209.3Buybacks0.0Fiscal year 2023Operating cash flow177.3Fiscal year 2024Operating cash flow181.1Fiscal year 2025Operating cash flow116.7
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 173.8 182.6 227.3 234.2 225.8 190.9 209.3 177.3 181.1 116.7
Buybacks 0.0 0.0 −21.8 −17.3 −60.0 0.0 0.0 n/a n/a n/a
Dividends paid −115.7 −116.3 −128.9 −134.1 n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash193.9Total debt2,013.1Net cash (debt)−1,819.2Shareholders’ equity1,866.3Debt to equity1.08Fiscal year 2017Cash202.2Total debt1,930.8Net cash (debt)−1,728.6Shareholders’ equity1,829.2Debt to equity1.06Fiscal year 2018Cash22.8Total debt2,028.0Net cash (debt)−2,005.2Shareholders’ equity1,798.8Debt to equity1.13Fiscal year 2019Cash90.5Total debt2,144.4Net cash (debt)−2,053.9Shareholders’ equity1,677.9Debt to equity1.28Fiscal year 2020Cash46.3Total debt1,830.6Net cash (debt)−1,784.3Shareholders’ equity1,794.1Debt to equity1.02Fiscal year 2021Cash27.5Shareholders’ equity1,690.3Fiscal year 2022Cash17.6Total debt1,965.0Net cash (debt)−1,947.5Shareholders’ equity1,625.6Debt to equity1.21Fiscal year 2023Cash58.3Total debt2,138.8Net cash (debt)−2,080.5Shareholders’ equity1,317.4Debt to equity1.62Fiscal year 2024Cash90.2Total debt2,212.8Net cash (debt)−2,122.6Shareholders’ equity1,038.6Debt to equity2.13Fiscal year 2025Cash32.3Total debt2,556.9Net cash (debt)−2,524.6Shareholders’ equity792.7Debt to equity3.23
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 193.9 202.2 22.8 90.5 46.3 27.5 17.6 58.3 90.2 32.3
Total debt 2,013.1 1,930.8 2,028.0 2,144.4 1,830.6 n/a 1,965.0 2,138.8 2,212.8 2,556.9
Net cash (debt) −1,819.2 −1,728.6 −2,005.2 −2,053.9 −1,784.3 n/a −1,947.5 −2,080.5 −2,122.6 −2,524.6
Shareholders’ equity 1,866.3 1,829.2 1,798.8 1,677.9 1,794.1 1,690.3 1,625.6 1,317.4 1,038.6 792.7
Debt to equity 1.08 1.06 1.13 1.28 1.02 n/a 1.21 1.62 2.13 3.23

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
525.5 520.5 544.3 580.4 534.9 486.8 506.1 514.7 505.5 484.5
Growth −0.9% +4.6% +6.6% −7.9% −9.0% +4.0% +1.7% −1.8% −4.2%
209.4 206.1 218.1 225.8 205.5 188.3 194.4 n/a n/a n/a
316.0 314.4 326.2 354.6 329.4 298.5 311.7 324.7 318.2 299.3
Growth −0.5% +3.8% +8.7% −7.1% −9.4% +4.4% +4.2% −2.0% −5.9%
26.6 28.5 27.8 32.2 30.3 30.2 35.0 34.9 42.8 42.0
185.4 135.5 56.7 114.8 400.5 93.3 119.7 −21.6 54.9 26.7
Growth −26.9% −58.1% +102.4% +248.9% −76.7% +28.3% −118.0% −51.4%
40.5 120.5 135.9 34.5 307.1 12.4 54.0 −197.3 −196.5 −178.8
0.0 −0.6 0.4 0.0 −0.2 0.0 0.1 0.1 0.0 0.1
40.2 120.2 134.5 34.3 305.5 12.3 53.8 −196.8 −195.9 −178.2
Growth +199.0% +11.9% −74.5% +791.6% −96.0% +338.0% −465.6%
Per share
0.19 0.65 0.75 0.19 1.77 0.07 0.31 −1.15 −1.14 −1.03
0.19 0.65 0.75 0.19 1.77 0.07 0.31 −1.15 −1.14 −1.03
Growth +242.1% +15.4% −74.7% +831.6% −96.0% +342.9% −471.0%
175.0 175.5 178.5 176.1 171.9 170.9 171.5 172.0 172.5 173.5
176.0 176.8 179.6 176.7 172.3 172.3 172.3 172.0 172.5 173.5
Growth +0.5% +1.6% −1.6% −2.5% −0.0% +0.0% −0.2% +0.3% +0.5%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 2.0% a year over five years.
  • The share count barely moved in five years.
  • Operating margin is down 69.4 points on five years ago, at 5.5%.
  • A net loss in 3 of 10 years on file.