JBG SMITH Properties (JBGS) Stock Fundamentals, Analysis & Risk Signals

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

JBG SMITH Properties

NYSE•Real Estate•REIT - Diversified

$11.42-0.28(-0.02%)Pre-market

Market Cap

$665.60M

P/S

1.3x

P/B

0.6x

JBG SMITH Properties owns, operates, and develops mixed-use properties concentrated in amenity-rich, Metro-served submarkets in and around Washington, DC, most notably National Landing, where through our focus on placemaking, we cultivate vibrant, highly amenitized, walkable neighborhoods. JBG SMITH's portfolio comprises 12.0 million square feet at share of multifamily, office, and retail assets, and a 3.3 million square-foot development pipeline. JBG SMITH Properties was established in 2016 and was incorporated in Maryland.

How this company scores

WeakMetricSide Score: 31/100

Strongest: Profitability (9/25); weakest: Cash & Earnings Quality (7/25).

Profitability9/25

Growth7/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality7/25

Strengths

Improving marginsNo share dilution

Valuation vs. 5-year range

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

P/E · 15.7x5y range 15.7x – 44.7x

Currently below its 4-quarter median.

P/S · 1.3x5y range 1.3x – 6.3x

Currently below its 20-quarter median.

P/B · 0.6x5y range 0.6x – 1.3x

Watch items

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

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $665.60M

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $508.41M
Q. Revenue: $129.38M
TTM EBITDA: $180.53M
TTM Op. Income: $-4.48M
Q. Op. Income: $3.86M
TTM Net Income: $-151.95M
Q. Net Income: $-59.16M
EPS: $-1.03
Shares Out.: $58.28M

$508.41M in TTM revenue declined 1.1% YoY, reaching $129.38M last quarter. TTM EBITDA of $180.53M and TTM operating income of $-4.48M show growth is flowing through to the bottom line. However, net income is negative at $151.95M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 37.6%
Op. Margin: 3.0%
Net Margin: -45.7%

Op. margin of 3.0% is up 4.4% YoY — cost efficiency is improving. Net margin at -45.7% Over the past year, operating margin is up 317% — an improving trend.

Price Ratios

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

P/E Ratio: N/A
P/S Ratio: 1.3x
P/B Ratio: 0.6x

P/S of 1.3x and P/B of 0.6x. P/S is low relative to typical market levels.

Assets & Liabilities

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

Total Assets: $4.26B
Cash: $74.80M
Long-Term Debt: $2.53B
Book Value: $1.08B
D/E Ratio: 2.3
Debt/EBITDA: 52.0

With $4.26B in assets and $2.53B in long-term debt, D/E is 2.3and book value is $1.08B — elevated leverage, meaning significant financial risk in a downturn. Across the last 8 quarters, debt/equity has risen for 7 consecutive quarters — a weakening trend.

Cash Flow

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

Op. Cash Flow: $15.84M
TTM Free Cash Flow: $-43.90M
FCF Margin: -8.6%
FCF / Net Income: 0.3

TTM FCF of $-43.90M on $15.84M in operating cash flow. The FCF / Net Income ratio of 0.3x means cash covers only part of net income — earnings quality needs attention. Over the past year, free cash flow is up 61% — an improving trend.