BRANDYWINE REALTY TRUST BDN

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

We are a self-administered and self-managed real estate investment trust ("REIT") engaged in the acquisition, development, redevelopment, ownership, management, and operation of a portfolio of office, life science/lab, residential and mixed-use properties. During the twelve months ended December 31, 2025, we owned and managed properties within four segments: (1) Philadelphia Central Business District ("Philadelphia CBD"), (2) Pennsylvania Suburbs, (3) Austin, Texas, and (4) Other. The Philadelphia CBD segment includes properties located in the City of Philadelphia, Pennsylvania. The Pennsylvania Suburbs segment includes properties in Chester, Delaware and Montgomery counties in the Philadelphia suburbs. The Austin, Texas segment includes properties in the City of Austin, Texas. The Other segment includes properties in Washington, D.C., Northern Virginia, Southern Maryland, Camden County, New Jersey and New Castle County, Delaware. In addition to our four segments, our corporate group is responsible for cash and investment management, development/redevelopment of certain real estate properties during the construction period, and certain other general support functions. See Note 1 "Organization of the Parent Company and the Operating Partnership," to our Consolidated Financial Statements for our property portfolio, management services and land holdings. Unless otherwise indicated, all references in this Form 10-K to "square feet" represent the net rentable area.

Last close 2.95 2026-10-23
Market cap $512.4M 2026-03-31 share count
52-week range 2.47 - 3.70

Valuation FY2025 figures against the last close

P/S1.1x
P/E—
P/FCF4.4x
EV/EBITDA113.9x
Dividend yield—
Diluted EPS-1.03

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $484.5M$505.5M$514.7M$506.1M$486.8M$534.9M$580.4M$544.3M$520.5M$525.5M
Cost of revenue ———$194.4M$188.3M$205.5M$225.8M$218.1M$206.1M$209.4M
Gross profit $299.3M$318.2M$324.7M$311.7M$298.5M$329.4M$354.6M$326.2M$314.4M$316.0M
SG&A $42.0M$42.8M$34.9M$35.0M$30.2M$30.3M$32.2M$27.8M$28.5M$26.6M
Total operating expenses $185.2M$187.3M$189.9M$194.4M$188.3M$424.0M$468.0M$493.6M$418.0M$466.2M
Operating income $26.7M$54.9M-$21.6M$119.7M$93.3M$400.5M$114.8M$56.7M$135.5M$185.4M
Pre-tax income -$178.8M-$196.5M-$197.3M$54.0M$12.4M$307.1M$34.5M$135.9M$120.5M$40.5M
Income tax $112.0K$14.0K$72.0K$55.0K$47.0K$224.0K$12.0K$423.0K$628.0K$0
Net income -$178.9M-$196.5M-$197.4M$54.0M$12.4M$305.5M$34.3M$134.5M$120.2M$40.2M
EPS, basic -1.03-1.14-1.150.310.071.770.190.750.650.19
EPS, diluted -1.03-1.14-1.150.310.071.770.190.750.650.19
Shares, diluted (wtd. avg.) 173.5M172.5M172.0M172.3M172.3M172.3M176.7M179.6M176.8M176.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $32.3M$90.2M$58.3M$17.6M$27.5M$46.3M$90.5M$22.8M$202.2M$193.9M
Other intangibles $22.4M$5.5M$7.7M$18.5M$28.6M$48.6M$84.9M$131.3M$65.0M$72.5M
Total assets $3.59B$3.49B$3.73B$3.87B$3.85B$3.90B$4.08B$4.08B$4.00B$4.10B
Long-term debt $2.56B$2.21B$2.14B——$1.83B$2.14B$2.03B$1.93B$2.01B
Total liabilities $2.79B$2.45B$2.41B$2.24B$2.14B$2.10B$2.39B$2.27B$2.15B$2.22B
Total equity $792.7M$1.04B$1.32B$1.63B$1.70B$1.80B$1.69B$1.81B$1.83B$1.86B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $116.7M$181.1M$177.3M$209.3M$190.9M$225.8M$234.2M$227.3M$182.6M$173.8M
Stock-based compensation $17.6M$16.9M$9.8M$8.9M$7.1M$6.6M$6.9M$5.7M$4.9M$4.3M
Investing cash flow -$206.3M-$120.2M-$174.9M-$190.6M-$100.3M$18.3M-$130.7M-$214.5M$79.8M$500.9M
Financing cash flow $55.7M-$32.3M$46.8M-$28.6M-$109.3M-$288.2M-$35.6M-$193.1M-$253.6M-$536.8M
Dividends paid ——————$134.1M$128.9M$116.3M$115.7M
Buybacks ———$0$0$60.0M$17.3M$21.8M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-145566.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M 600M Revenue, FY2016: 525.5M Gross profit, FY2016: 316M Net income, FY2016: 40.2M Revenue, FY2017: 520.5M Gross profit, FY2017: 314.4M Net income, FY2017: 120.2M Revenue, FY2018: 544.3M Gross profit, FY2018: 326.2M Net income, FY2018: 134.5M Revenue, FY2019: 580.4M Gross profit, FY2019: 354.6M Net income, FY2019: 34.3M Revenue, FY2020: 534.9M Gross profit, FY2020: 329.4M Net income, FY2020: 305.5M Revenue, FY2021: 486.8M Gross profit, FY2021: 298.5M Net income, FY2021: 12.4M Revenue, FY2022: 506.1M Gross profit, FY2022: 311.7M Net income, FY2022: 54M Revenue, FY2023: 514.7M Gross profit, FY2023: 324.7M Net income, FY2023: -197.4M Revenue, FY2024: 505.5M Gross profit, FY2024: 318.2M Net income, FY2024: -196.5M Revenue, FY2025: 484.5M Gross profit, FY2025: 299.3M Net income, FY2025: -178.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $525.5M $520.5M $544.3M $580.4M $534.9M $486.8M $506.1M $514.7M $505.5M $484.5M
Gross profit $316.0M $314.4M $326.2M $354.6M $329.4M $298.5M $311.7M $324.7M $318.2M $299.3M
Net income $40.2M $120.2M $134.5M $34.3M $305.5M $12.4M $54.0M -$197.4M -$196.5M -$178.9M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 6798

TickerCompanyMarket capP/ERevenue growth
WELL WELLTOWER INC. $167.53B 170.7x 40.2%
PLD Prologis, Inc. $117.89B 35.5x 7.2%
EQIX EQUINIX INC $94.23B 69.4x 5.4%
AMT AMERICAN TOWER CORP /MA/ $88.04B 35.0x 20.8%
SPG SIMON PROPERTY GROUP INC. $68.57B 14.9x 6.7%
DLR DIGITAL REALTY TRUST, INC. $60.57B 48.1x 10.0%
PSA Public Storage $54.42B 34.4x 2.7%
O REALTY INCOME CORP $53.83B 48.6x 9.1%