BFS - NYSE

Saul Centers, Inc.

BFS·NYSE

$35.45

-0.23%

Real EstateREIT - Retail

Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 60 properties which includes (a) 50 community and neighborhood shopping centers and seven mixed-use properties with approximately 9.8 million square feet of leasable area and (b) three land and development properties. Approximately 85% of the Saul Centers' property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$869.54M

EPS1.5500

P/E Ratio22.87

Earnings Date08/06/2026

99.80M

Operating Cash Flow

-18%

3Y-18.0%

5Y+27.0%

10Y+12.0%

-95.81M

Investing Cash Flow

-49%

3Y-18.0%

5Y+71.0%

10Y+11.0%

-5.54M

Financing Cash Flow

-108%

3Y-1.0%

5Y-40.0%

10Y+23.0%

Saul Centers, Inc. Cash Conversion Engine

BFS · NYSE

FCF Components

Net Income37.51M

Depreciation & Amortization58.78M

Stock-Based Compensation1.98M

Change in Working Capital-14.75M

Others16.27M

Capital Expenditures0.00

Free Cash Flow99.80M

Cash Flow Quality Analysis

FCF Conversion Rate

266.0%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

FCF Growth Trend

-17.7%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$14.75M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Asset-light with strong cash conversion: Low capital requirements combined with efficient cash generation creates significant shareholder value through dividends, buybacks, or strategic investments.

Saul Centers, Inc. Cash Flow Statement

BFS • NYSE

Saul Centers, Inc. Cash Flow Statement	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017	Dec 2016	Dec 2015	Dec 2014	Dec 2013	Dec 2012	Dec 2011	Dec 2010	Dec 2009	Dec 2008	Dec 2007	Dec 2006
OPERATING ACTIVITIES
Net Income	37.5M	50.6M	52.7M	65.4M	61.6M	50.3M	64.2M	63.1M	60.7M	56.7M	52.9M	58M	34.8M	39.8M	30.3M	43.2M	43.2M	39.7M	36.7M	32.7M
Depreciation & Amortization	58.8M	52.9M	48.4M	49M	50.3M	51.1M	46.3M	45.9M	45.7M	44.4M	43.3M	41.2M	49.1M	40.2M	35.4M	28.6M	28.3M	29.8M	26.5M	25.6M
Change in Deferred Taxes	0.0	0.0	0.0	0.0	-50.3M	-51.1M	-44.7M	-45.7M	-44.9M	-43.9M	-42.4M	-46.6M	-48.2M	-43.6M	3.2M	-5.6M	774K	0.0	0.0	0.0
Stock-Based Compensation	2M	1.7M	1.4M	1.5M	1.6M	1.4M	1.9M	1.8M	1.7M	1.6M	1.4M	1.2M	1.1M	952K	948K	951K	901K	0.0	0.0	0.0
Other Non-Cash Items	16.3M	17.7M	13.5M	-171K	51M	49.6M	46M	41.4M	42.5M	41.1M	39.1M	38.5M	44.4M	36.2M	1.3M	2.3M	1.8M	10.1M	14.5M	16.5M
Change in Working Capital	-14.8M	-1.7M	1.7M	5.4M	4.2M	-23M	1.7M	3.9M	-2.2M	-10.8M	-5.5M	-5.8M	-7.9M	4.9M	-15.5M	-6.6M	-6M	-6.4M	-6.4M	-12.7M
Cash from Operating Activities	99.8M	121.2M	117.7M	121.2M	118.4M	78.4M	115.4M	110.3M	103.5M	89.1M	88.9M	86.6M	73.5M	78.4M	55.7M	62.9M	69M	73.1M	71.2M	62.2M
INVESTING ACTIVITIES
Investments in Property, Plant, and Equipment	(0.0)	(0.0)	(0.0)	(19M)	(0.0)	(56.2M)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-19.1M	(0.0)	-181.7M	-108.2M	-80.7M	-115.9M	-31M	-27.5M
Acquisitions, Net	(0.0)	(0.0)	-177.5M	-101.1M	-28.2M	-37.1M	-113.8M	-76.3M	-22.8M	-27.2M	-45.9M	-17.8M	-7.3M	-7.9M	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)
Purchase of Investments	(0.0)	(0.0)	(0.0)	-116.9M	-55.9M	-56.5M	-135.7M	-130M	-120M	-91M	-69.6M	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)
Sale/Maturity of Investments	0.0	0.0	0.0	116.9M	0.0	376K	0.0	1.3M	6.7M	4.8M	32K	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other Investing Items	-95.8M	-188.7M	-26.2M	-34.8M	28.2M	-19.1M	113.8M	-52.4M	-90.5M	-59M	-23.7M	-65.8M	405K	-39M	-19.8M	9.9M	251K	835K	-21M	-38.2M
Cash from Investing Activities	-95.8M	-188.7M	-203.7M	-116.9M	-55.9M	-56.2M	-135.7M	-128.7M	-113.3M	-86.3M	-69.6M	-83.6M	-26M	-46.9M	-201.5M	-98.2M	-80.5M	-115.1M	-52M	-65.7M
FINANCING ACTIVITIES
Net Issuance of Common Stock	21.8M	2.4M	2.2M	8.2M	14.4M	9.9M	25M	30.5M	22.8M	21.6M	15.6M	15.6M	22.3M	27.8M	27.1M	19.5M	4.2M	4.5M	19M	17.1M
Net Issuance of Debt	66.1M	146.4M	167.6M	83.7M	-5.2M	59.3M	68.7M	66.7M	57.8M	32.5M	17.9M	26.3M	-7.7M	-4.1M	120.5M	57.4M	65.6M	23.6M	10.3M	28.7M
Cash Paid for Dividends	-68.3M	-68.1M	-67.9M	-66.7M	-62.2M	-60.6M	-61M	-58.7M	-57M	-51.8M	-48M	-45.8M	-43.8M	-43.3M	-42.2M	-41.3M	-42.5M	-45.1M	-39M	-36.6M
Share Repurchases	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	-105M	-75M	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)	(0.0)
Other Financing Items	-25.1M	-11.3M	-20.8M	-30.7M	-21.8M	-18M	-14.5M	-13.8M	-11.1M	-6.7M	-6.9M	-3.5M	-9M	-12.2M	39.8M	-7.8M	-8.3M	-10.2M	-11.7M	-5.6M
Cash from Financing Activities	-5.5M	69.4M	81.1M	-5.6M	-74.8M	-9.3M	19.6M	22M	12.4M	-4.5M	-21.4M	-8.1M	-42.3M	-31.7M	145.2M	27.7M	19M	49.2M	-21.5M	3.6M
CASH FLOW SUMMARY
Net Change in Cash	-1.6M	1.9M	-4.9M	-1.3M	-12.3M	13M	-673K	3.7M	2.6M	-1.7M	-2.1M	-5.2M	5.2M	-190K	-645K	-7.6M	7.6M	7.2M	-2.3M	54K
Cash at Beginning of Period	10.3M	8.4M	13.3M	14.6M	26.9M	13.9M	14.6M	10.9M	8.3M	10M	12.1M	17.3M	12.1M	12.3M	13M	20.6M	13M	5.8M	8.1M	8M
Cash at End of Period	8.7M	10.3M	8.4M	13.3M	14.6M	26.9M	13.9M	14.6M	10.9M	8.3M	10M	12.1M	17.3M	12.1M	12.3M	13M	20.6M	13M	5.8M	8.1M
Free Cash Flow	99.8M	121.2M	117.7M	140.2M	118.4M	134.6M	115.4M	110.3M	103.5M	89.1M	88.9M	86.6M	54.4M	78.4M	-126.1M	-45.3M	-11.7M	-42.8M	40.2M	34.7M

SEC Filings

BFS - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
8-K 8-K 2026 N/A	May 11, 2026	May 08, 2026	2026	View Filing
10-Q 10-Q 2026 Q1 Q1	May 07, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	May 07, 2026	May 07, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	March 23, 2026	May 08, 2026	2026	View Filing
10-K 10-K 2025 FY FY	February 27, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	February 27, 2026	February 27, 2026	2026	View Filing
8-K 8-K 2025 N/A	November 26, 2025	November 25, 2025	2025	View Filing
10-Q 10-Q 2025 Q3 Q3	November 06, 2025	September 30, 2025	2025	View Filing
8-K 8-K 2025 N/A	November 06, 2025	November 06, 2025	2025	View Filing
8-K 8-K 2025 N/A	August 07, 2025	August 07, 2025	2025	View Filing

Showing 1 to 10 of 345 filings

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