Brightspire Capital (BRSP) financial statements
Brightspire Capital reported revenue of $331M in fiscal 2025, up 8.5% a year over 9 years.
Net income was -$31M and the operating margin 21.0%, against 86.3% in 2016.
Free cash flow was $55M, and the company returned $83M in dividends and $11M in net buybacks.
The diluted share count rose 186% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Brightspire Capital's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $158M | $189M | $501M | $589M | $291M | $194M | $365M | $415M | $359M | $331M |
| Selling, general and admin | $15M | $13M | $27M | $32M | $27M | $50M | — | — | — | — |
| Operating income | $137M | $151M | $40M | -$268M | -$70M | -$77M | $156M | $158M | $19M | $69M |
| Interest expense | $26M | $21M | $47M | $88M | $63M | $55M | $112M | $173M | $27M | $24M |
| Pre-tax income | $94M | $105M | -$164M | -$496M | -$251M | $33M | $49M | -$24M | -$134M | -$60M |
| Income tax | $2M | $2M | $37M | $3M | -$11M | $6M | $2M | $1M | $1M | -$22M |
| Net income | $76M | $89M | -$168M | -$415M | -$353M | -$101M | $46M | -$16M | -$132M | -$31M |
| EPS (diluted) | $1.60 | $1.86 | -$1.41 | -$3.25 | -$2.75 | -$0.79 | $0.34 | -$0.12 | -$1.05 | -$0.26 |
| Diluted shares | 44M | 44M | 121M | 128M | 129M | 128M | 129M | 127M | 127M | 127M |
| Operating margin | 86.3% | 80.0% | 8.1% | -45.5% | -24.1% | -39.5% | 42.7% | 38.1% | 5.4% | 21.0% |
| Net margin | 48.1% | 46.7% | -33.6% | -70.4% | -121.4% | -52.0% | 12.6% | -3.7% | -36.8% | -9.4% |
Balance sheet
Fiscal years, from Brightspire Capital's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $14M | $25M | $77M | $70M | $475M | $260M | $306M | $258M | $302M | $67M |
| Total assets | — | $1.8B | $8.7B | $7.4B | $6.2B | $5.6B | $4.8B | $4.2B | $3.7B | $3.6B |
| Total liabilities | — | $432M | $5.8B | $5.2B | $4.3B | $4.1B | $3.4B | $2.9B | $2.7B | $2.6B |
| Shareholders' equity | $1.2B | $1.1B | $2.7B | $2.1B | $1.7B | $1.5B | $1.4B | $1.3B | $1.0B | $938M |
| Net debt | -$14M | -$25M | -$77M | -$70M | -$475M | -$260M | -$306M | -$258M | -$302M | -$67M |
Cash flow
Fiscal years, from Brightspire Capital's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $89M | $107M | $101M | $137M | $96M | -$21M | $125M | $138M | $103M | $73M |
| Capital spending | $67,000 | $312,000 | $415M | $24M | $23M | $10M | $4M | $7M | $6M | $18M |
| Free cash flow | $88M | $107M | -$314M | $113M | $73M | -$31M | $121M | $131M | $97M | $55M |
| Stock-based compensation | $0 | $0 | $7M | $11M | $4M | $14M | $8M | $14M | $12M | $13M |
| Dividends paid | $0 | $0 | $185M | $218M | $52M | $52M | $99M | $104M | $99M | $83M |
| Share buybacks (net) | — | — | — | — | $0 | $0 | -$18M | $0 | -$7M | -$11M |
| Free cash flow margin | 55.9% | 56.3% | -62.8% | 19.2% | 25.1% | -16.1% | 33.3% | 31.5% | 27.1% | 16.7% |
| Dividends per share | — | — | $1.54 | $1.70 | $0.40 | $0.40 | $0.77 | $0.82 | $0.78 | $0.65 |
Questions
What was Brightspire Capital's revenue in 2025?
$331M in fiscal 2025, from its 10-K filing.
How much free cash flow does Brightspire Capital generate?
$55M in fiscal 2025 (operating cash flow minus capital spending).
From Brightspire Capital's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.