FBRT - NYSE

Franklin BSP Realty Trust, Inc.

FBRT·NYSE

$8.28

-1.3%

Real EstateREIT - Mortgage

Franklin BSP Realty Trust, Inc., a real estate finance company, originates, acquires, and manages a portfolio of commercial real estate debt secured by properties located in the United States. The company also originates conduit loans; and invests in commercial real estate securities, as well as owns real estate acquired through foreclosure and deed in lieu of foreclosure, and purchased for investment. In addition, it invests in commercial real estate debt investments, which includes first mortgage loans, mezzanine loans, bridge loans, and other loans related to commercial real estate. The company qualifies as a real estate investment trust for federal income tax purposes. It generally would not be subject to federal corporate income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Benefit Street Partners Realty Trust, Inc. Franklin BSP Realty Trust, Inc. was incorporated in 2012 and is headquartered in New York, New York.

Statements Value Model

At a Glance

Live Snapshot

Market Cap$637.25M

EPS0.6500

P/E Ratio12.74

Earnings Date07/29/2026

6.06B

Assets

3Y-2.0%

5Y+90.0%

10Y+385.0%

4.53B

Total Liabilities

3Y-2.0%

5Y+89.0%

10Y+637.0%

1.53B

Total Equity

3Y-3.0%

5Y+92.0%

10Y+38.0%

Franklin BSP Realty Trust, Inc. Funding & Solvency Profile

FBRT · NYSE

Current Assets

Cash & Cash Equivalents167.29M

Net Receivables4.85B

Inventory0.00

Other Current Assets17.89M

Total Current Assets5 B

Non-Current Assets

Property, Plant & Equipment0.00

Goodwill & Intangible Assets419.82M

Long-Term Investments243.83M

Other Non-Current Assets354.57M

Total Non-Current Assets598 M

Total Assets

6.06B

Financial Health Analysis

Current Ratio

18.43x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

2.96x

High financial leverage. Heavy reliance on debt may indicate increased financial risk and potential solvency concerns.

Working Capital

5 B

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

83% Current

Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.

Financial Health Insight

Mixed signals: Strong short-term liquidity provides comfort, but high overall leverage requires careful monitoring of debt servicing capabilities and refinancing risk.

Franklin BSP Realty Trust, Inc. Balance Sheet

FBRT • NYSE

Franklin BSP Realty Trust, Inc. Balance Sheet	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
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents	167.3M	184.4M	337.6M	179.3M	154.9M	82.1M	87.2M	191.4M	83.7M	118M	20.2M	386K	178K	573.0
Short-Term Investments	0.0	0.0	0.0	235.7M	4.6B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Cash & Short-Term Investments	167.3M	184.4M	337.6M	415M	4.7B	82.1M	87.2M	191.4M	83.7M	118M	20.2M	386K	178K	573.0
Net Receivables	4.9B	5.2B	5.1B	5.3B	4.5B	2.9B	3B	2.4B	1.5B	1.1B	6.7M	456.9M	30.8M	0.0
Accounts Receivables	4.9B	5.2B	5.1B	5.3B	4.5B	2.9B	266K	0.0	1.5B	1.1B	0.0	0.0	0.0	0.0
Other Receivables	0.0	0.0	0.0	0.0	0.0	0.0	3B	86.5M	0.0	0.0	6.7M	456.9M	30.8M	0.0
Inventory	0.0	0.0	0.0	0.0	0.0	0.0	35.3M	-846K	-132K	0.0	0.0	0.0	0.0	0.0
Prepaids	0.0	0.0	0.0	0.0	13.6M	8.5M	5.3M	4.2M	4M	1.9M	1.1B	0.0	0.0	0.0
Other Current Assets	17.9M	12.4M	6.1M	11.2M	56.4M	1.5M	0.0	0.0	4M	3.1M	12.7M	6.7M	355K	0.0
Total Current Assets	5B	5.4B	5.4B	5.7B	9.3B	3B	3.1B	2.6B	1.6B	1.2B	1.2B	464M	31.4M	573.0
NON-CURRENT ASSETS
Property, Plant, and Equipment (Net)	0.0	0.0	0.0	0.0	0.0	0.0	6M	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Goodwill	92M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Intangible Assets	327.8M	39.8M	0.0	0.0	0.0	0.0	14.4M	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Goodwill & Intangible Assets	419.8M	39.8M	42.8M	54.8M	48.5M	13.5M	14.4M	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Long-Term Investments	243.8M	216.4M	242.6M	221M	0.0	171.1M	386.3M	26.4M	0.0	49M	130.8M	50.2M	5M	0.0
Tax Assets	0.0	0.0	0.0	0.0	0.0	0.0	3.5B	2.6B	1.6B	1.2B	0.0	0.0	0.0	0.0
Other Non-Current Assets	354.6M	353.6M	238.7M	180.5M	106.2M	37.6M	-3.5B	-2.6B	-1.6B	-1.2B	0.0	0.0	0.0	0.0
Total Non-Current Assets	1B	609.8M	524.1M	456.3M	154.6M	222.3M	445.7M	27.3M	132K	49M	130.8M	50.2M	5M	0.0
Total Assets	6.1B	6B	6B	6.2B	9.5B	3.2B	3.5B	2.6B	1.6B	1.2B	1.3B	514.2M	36.4M	0.0
LIABILITIES
CURRENT LIABILITIES
Total Payables	69.9M	64.8M	68.8M	69.4M	60.6M	30.3M	22.6M	13.6M	14.8M	10.8M	0.0	0.0	0.0	635.2K
Accounts Payable	18.9M	14.4M	13.3M	17.7M	12.7M	5.1M	10.9M	4.5M	4.5M	1.2M	0.0	0.0	0.0	635.2K
Other Payables	51M	50.3M	55.4M	51.7M	47.9M	25.2M	11.7M	9.1M	10.3M	9.7M	0.0	0.0	0.0	-635.2K
Accrued Expenses	16.1M	12.8M	15.4M	12.7M	2.7M	2.1M	5M	3M	1.5M	897K	0.0	0.0	0.0	0.0
Short Term Debt	187.4M	236.6M	174.1M	440M	4.2B	186.8M	394.4M	44.5M	39M	66.6M	117.2M	100M	7.3M	0.0
Deferred Revenue	0.0	0.0	0.0	0.0	0.0	0.0	150K	0.0	0.0	0.0	409.1M	0.0	0.0	0.0
Other Current Liabilities	0.0	1.3M	12.3M	0.0	0.0	0.0	0.0	0.0	0.0	0.0	10.7M	4.9M	231K	0.0
Total Current Liabilities	273.4M	315.5M	270.5M	522.1M	4.2B	219.3M	421.9M	61.1M	55.4M	78.4M	543.8M	107.2M	9.3M	635.2K
NON-CURRENT LIABILITIES
Long Term Debt	4.1B	4.1B	4B	4B	3.4B	2B	2B	1.5B	851.8M	278.5M	493.5M	76.5M	0.0	121.5K
Deferred Revenue (Non-Current)	0.0	0.0	0.0	0.0	0.0	0.0	150K	1.7B	973.3M	614.5M	0.0	0.0	0.0	0.0
Deferred Tax Liabilities (Non-Current)	0.0	0.0	0.0	0.0	0.0	0.0	-183.7M	-1.7B	-973.3M	-485.1M	0.0	0.0	0.0	0.0
Other Non-Current Liabilities	189.5M	90.5M	89.7M	94.8M	129M	209.7M	323.4M	296.5M	-784.1M	-278.5M	-409.1M	0.0	0.0	-121.5K
Total Non-Current Liabilities	4.3B	4.2B	4.1B	4.1B	3.5B	2.2B	2.3B	1.8B	917.9M	536.1M	84.4M	76.5M	0.0	121.5K
Capital Lease Obligations	0.0	0.0	0.0	6.4M	0.0	0.0	6.1M	145.8M	0.0	0.0	0.0	0.0	0.0	0.0
Total Liabilities	4.5B	4.5B	4.4B	4.6B	7.8B	2.4B	2.7B	1.9B	973.3M	614.5M	628.2M	183.7M	9.3M	756.7K
SHAREHOLDERS' EQUITY
Preferred Stock	258.7M	258.7M	258.7M	258.7M	969.2M	0.0	0.0	145.8M	0.0	0.0	0.0	0.0	0.0	0.0
Common Stock	808K	818K	820K	826K	441K	446K	441K	395K	320K	319K	314K	155K	13K	0.0
Additional Paid-In Capital	1.6B	1.6B	1.6B	1.6B	903.3M	912.7M	903.3M	827.6M	704.1M	704.5M	0.0	0.0	0.0	0.0
Retained Earnings	-411.1M	-348.1M	-298.9M	-299.2M	-167.2M	-106.5M	-86M	-94.3M	-94.1M	-70.7M	-35.3M	-10.2M	-605K	-15.5K
Accumulated Other Comprehensive Income/Loss	-284K	79K	-703K	390K	-62K	-8.3M	-978K	-459K	610.3M	-500K	691.9M	-306K	-10K	0.0
Other Total Stockholders' Equity	0.0	0.0	0.0	0.0	0.0	0.0	-209.1M	-145.8M	0.0	0.0	-2.6M	340.9M	26.6M	199.9K
Total Stockholders' Equity	1.4B	1.5B	1.6B	1.6B	1.7B	798.4M	816.8M	733.2M	610.3M	633.7M	654.3M	330.5M	26M	184.5K
Total Equity	1.5B	1.5B	1.6B	1.6B	1.7B	798.4M	3.2B	2.2B	1.5B	1.1B	654.3M	330.5M	26M	184.5K
Minority Interest	89.9M	7.5M	27.1M	15.4M	5.8M	0.0	2.4B	1.5B	864.9M	479.7M	0.0	0.0	0.0	0.0
SUMMARY
Total Liabilities & Equity	6.1B	6B	6B	6.2B	9.5B	3.2B	3.5B	2.6B	1.6B	1.2B	1.3B	514.2M	35.3M	0.0
Total Investments	243.8M	216.4M	242.6M	456.8M	4.6B	171.1M	386.3M	26.4M	0.0	49M	130.8M	50.2M	5M	0.0
Total Debt	4.3B	4.3B	4.2B	4.4B	7.6B	2.1B	2.5B	1.7B	956.6M	602.8M	610.7M	176.4M	7.3M	0.0
Net Debt	4.1B	4.1B	3.8B	4.3B	7.4B	2.1B	2.4B	1.5B	872.9M	484.7M	590.5M	176.1M	7.1M	-573.0
Shares Outstanding	82,045,952	82,045,952	82,045,952	82,045,952	82,045,952	82,045,952	82,045,952	82,045,952	82,045,952	82,045,952	82,045,952	82,045,952	82,045,952	82,045,952

SEC Filings

FBRT - Filing history and reports

Filing Type	Filing Date	Period Ending	Fiscal Year	Actions
10-Q 10-Q 2026 Q1 Q1	April 29, 2026	March 31, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 29, 2026	April 29, 2026	2026	View Filing
8-K 8-K 2026 N/A	April 20, 2026	April 15, 2026	2026	View Filing
DEF 14A DEF 14A 2026 N/A	April 17, 2026	June 08, 2026	2026	View Filing
10-K 10-K 2025 FY FY	February 25, 2026	December 31, 2025	2025	View Filing
8-K 8-K 2026 N/A	February 11, 2026	February 11, 2026	2026	View Filing
8-K 8-K 2026 N/A	February 10, 2026	February 10, 2026	2026	View Filing
8-K 8-K 2026 N/A	January 21, 2026	January 14, 2026	2026	View Filing
10-Q 10-Q 2025 Q3 Q3	November 05, 2025	September 30, 2025	2025	View Filing
8-K 8-K 2025 N/A	October 29, 2025	October 29, 2025	2025	View Filing

Showing 1 to 10 of 230 filings

Related Guides

Blog Categories

Continue your FBRT research with focused valuation guides.

Fundamentals

Decode statement quality and operating durability.

Accounting

Interpret line items with cleaner analytical framing.

Forecasting

Translate historical performance into forward scenarios.

Reference

Use practical frameworks for statement-led valuation.

Research Paths

Pick your next lens

Snapshot

Start with context, operating signals, and key market metrics.

Value Model

Stress test fair value across bear, base, and bull assumptions.

Statements

Validate revenue quality, margins, and balance sheet durability.

Earnings Call

Read management commentary and compare it with reported outcomes.

Dividends

Check payout sustainability and long-term distribution behavior.

Analyst Expectations

Review consensus spread and where estimate risk is concentrated.