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JBG Smith Properties key statistics and ratios

In fiscal 2025, JBG Smith Properties had return on equity of -9.4%, a net margin of -27.9% and debt equal to 220.0% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Operating margin21.8%23.6%−9.6%—————————
Net margin10.5%13.0%−13.2%6.2%10.1%−10.3%−12.5%14.1%−13.2%−26.2%−27.9%−29.9%
Return on equity2.4%3.0%−2.8%1.3%2.1%−1.9%−2.6%3.1%−3.3%−7.1%−9.4%−13.7%
Return on assets—1.7%−1.5%0.7%1.1%−1.0%−1.3%1.4%−1.4%−2.7%−3.0%−3.5%
Asset turnover—0.130.110.110.110.100.100.100.110.100.110.12
Debt to equity0.0%54.9%74.1%71.8%48.1%62.5%85.3%91.4%116.1%143.1%220.0%217.6%
Interest cover (operating income ÷ interest)2.0x2.2xn/m—————————
Effective tax rate0.8%1.7%—−1.6%−1.8%——1.3%————
Dividends ÷ net income—0.0%—268.9%198.0%——126.1%————

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

32 /100

Weak moat

How hard JBG Smith Properties's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -0.8% of total assets over 10 years.

  • Durability 10 / 20

    Net margin has been a median -7.8%; its worst year was -29.9%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 2 of 10 years, at a median -9.2% of revenue.

  • Discipline 14 / 20

    The diluted share count fell 55.1% over five years; stock-based pay has been a median 7.0% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from JBG Smith Properties's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to JBG Smith Properties.