Franklin BSP Realty Trust (FBRT) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Franklin BSP Realty Trust

NYSE•Real Estate•REIT - Mortgage

$8.59+0.06(0.01%)Market closed

Market Cap

$570.47M

P/E

9.1x

P/S

1.8x

P/B

0.4x

Franklin BSP Realty Trust, Inc., a real estate finance company, originates and manages a diversified portfolio of commercial real estate debt investments through a REIT structure in the United States and internationally. The company operates through Real Estate Debt Business; Agency Business; Commercial Real Estate Conduit Business; and Real Estate Owned Business segments. The Real Estate Debt Business focuses on originating, acquiring, and asset managing commercial real estate debt investments, including first mortgages, subordinate mortgages, mezzanine loans, and participations in such loans and focuses on investing in and asset managing real estate securities. The Agency Business focuses on originating, selling, and servicing loans under programs offered by government-sponsored enterprises and agencies. The Commercial Real Estate Conduit Business is focused on generating risk-adjusted returns by originating and selling fixed-rate commercial real estate loans. The Real Estate Owned Business represents real estate acquired by the company through foreclosure, deed-in-lieu of foreclosure, and purchase. It also originates conduit loans. Franklin BSP Realty Trust, Inc. was formerly known as Benefit Street Partners Realty Trust, Inc. and changed its name to Franklin BSP Realty Trust, Inc. in October 2021. Franklin BSP Realty Trust, Inc. was incorporated in 2012 and is headquartered in New York, New York.

How this company scores

WeakMetricSide Score: 47/100

Grade capped at D — Interest coverage below 1× (0.2x) — earnings cannot cover interest. Strongest: Growth (17/25); weakest: Balance Sheet & Red Flags (5/25).

Profitability10/25

Growth17/25

Balance Sheet & Red Flags5/25

Cash & Earnings Quality15/25

Strengths

Growing revenueStrong marginsCash-backed earningsConsistent growth

Grade capped at D

Interest coverage below 1× (0.2x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 9.1x5y range 5.7x – 64.0x

Currently near its 17-quarter median.

P/S · 1.8x5y range 1.8x – 5.4x

Currently below its 20-quarter median.

P/B · 0.4x5y range 0.4x – 0.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 50.3% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $570.47M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $310.34M
Q. Revenue: $65.29M
TTM EBITDA: $85.31M
TTM Op. Income: $73.08M
Q. Op. Income: $12.20M
TTM Net Income: $62.56M
Q. Net Income: $15.57M
EPS: $0.12
Shares Out.: $76.37M

$310.34M in TTM revenue grew 51.4% YoY, reaching $65.29M last quarter. TTM EBITDA of $85.31M and TTM operating income of $73.08M show growth is flowing through to the bottom line. TTM net income of $62.56M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 21.7%
Op. Margin: 18.7%
Net Margin: 23.8%

Op. margin of 18.7% is down 21.3% YoY — costs are rising relative to revenue. Net margin at 23.8% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 9.1x
P/S Ratio: 1.8x
P/B Ratio: 0.4x

At 9.1x P/E, the stock trades below typical market levels. P/S of 1.8x and P/B of 0.4x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $6.38B
Cash: $136.35M
Long-Term Debt: $3.13B
Book Value: $1.37B
D/E Ratio: 2.3
Debt/EBITDA: 220.6

With $6.38B in assets and $3.13B in long-term debt, D/E is 2.3and book value is $1.37B — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $48.27M
TTM Free Cash Flow: $157.25M
FCF Margin: 50.7%
FCF / Net Income: 2.5

TTM FCF of $157.25M on $48.27M in operating cash flow. The FCF / Net Income ratio of 2.5x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 7% — an improving trend.