Brandywine Realty Trust income statement
In fiscal 2025, Brandywine Realty Trust reported revenue of $484m, down 4.2% on the year before, operating income of $26.7m (a 5.5% margin) and net income of −$178m, or −$1.03 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 525 | 520 | 544 | 580 | 535 | 487 | 506 | 515 | 506 | 484 | 503 |
| Cost of revenue | 209 | 206 | 218 | 226 | 205 | 188 | 194 | — | — | — | — |
| Gross profit | 316 | 314 | 326 | 355 | 329 | 299 | 312 | 325 | 318 | 299 | 299 |
| General and administrative | 27 | 29 | 28 | 32 | 30 | 30 | 35 | 35 | 43 | 42 | 37 |
| Operating income | 185 | 135 | 57 | 115 | 400 | 93 | 120 | −22 | 55 | 27 | 96 |
| Interest expense | 85 | 82 | 78 | 82 | — | — | — | — | — | — | — |
| Income before tax | 41 | 121 | 136 | 35 | 307 | 12 | 54 | −197 | −196 | −179 | −139 |
| Income tax | 0 | −1 | 0 | 0 | −0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | 40 | 120 | 135 | 34 | 306 | 12 | 54 | −197 | −196 | −178 | −139 |
| Diluted EPS | $0.19 | $0.65 | $0.75 | $0.19 | $1.77 | $0.07 | $0.31 | −$1.15 | −$1.14 | −$1.03 | −$0.80 |
| Diluted shares (average) | 176m | 177m | 180m | 177m | 172m | 172m | 172m | 172m | 173m | 173m | 173m |
| EBITDA | 375 | 316 | 233 | 325 | 589 | 271 | 298 | 167 | 233 | 203 | 283 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 122 | 122 | 121 | 121 | 121 | 127 | 129 | 126 |
| Gross profit | 75 | 74 | 75 | 76 | 74 | 75 | 76 | 74 |
| General and administrative | 10 | 17 | 9 | 8 | 7 | 12 | 9 | 8 |
| Operating income | 22 | 15 | −41 | 25 | 28 | 2 | 19 | 47 |
| Income before tax | −45 | −27 | −89 | −26 | −37 | −49 | −32 | −22 |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | −44 | −27 | −89 | −26 | −37 | −49 | −31 | −22 |
| Diluted EPS | −$0.26 | −$0.16 | −$0.51 | −$0.15 | −$0.21 | −$0.28 | −$0.18 | −$0.13 |
| EBITDA | 67 | 60 | 2 | 68 | 73 | 51 | 67 | 92 |
Compare with peers
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