1.Sales and profit
See section β- BrightSpire Capital, Inc. had $331M of revenue in fiscal 2025, down 7.9% on the year before. Over five years, revenue changed +2.6% a year on average.
- BrightSpire Capital, Inc. lost $31.1M in fiscal 2025.
BrightSpire Capital, Inc.
BRSP NYSE Real Estate Investment Trusts Financials FY2016βFY2025
BrightSpire Capital, Inc. had $331M of revenue in fiscal 2025, down 7.9% on the year before. Over five years, revenue changed +2.6% a year on average.
Download report
3-page PDF: the company, its results and charts with peers.
Last close Β· Oct 23, 2026
$3.66
0.3%KIRAβs summary AI analyst
Hi! I read BrightSpire Capital, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
2 to watch
2.Cash and shareholders
See section β- BrightSpire Capital, Inc. returned $93.9M to shareholders in fiscal 2025. The diluted share count fell 0.4%.
- No open-market insider trades in the last 12 months.
3.Financial health
See section β- BrightSpire Capital, Inc. owes $2.4B more than it holds in cash.
- BrightSpire Capital, Inc. passes 4 of 7 financial health tests (Piotroski F-score).
BrightSpire Capital, Inc. in 30 seconds
Good So-so Weak
Weak
Are sales growing?
β7.9%
No. Sales fell 7.9% last year.
Weak
Does it make a profit?
β9.4%
No. It lost money last year.
So-so
How healthy are the accounts?
4 / 7
Mixed. It passes 4 of 7 health tests.
For information
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$464M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On β$0.23 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Results dates
In plain words: Every quarter, companies publish how much they sold and earned. These are the days BrightSpire Capital, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
October 27, 2026
Tuesday Β· tomorrow
- Time
- After the market closes
- Covers
- Period ended Sep 30, 2026
- Expected EPS
- $0.11
- Source
- Earnings calendar
| Date | Results for | Time | Source |
|---|---|---|---|
| Jul 28, 2026 | Q2 '26 | After the market closes | 8-K β |
| Apr 28, 2026 | Q1 '26 | After the market closes | 8-K β |
| Feb 17, 2026 | Q4 '25 | After the market closes | 8-K β |
| Oct 28, 2025 | Q3 '25 | After the market closes | 8-K β |
| Jul 29, 2025 | Q2 '25 | After the market closes | 8-K β |
| Apr 29, 2025 | Q1 '25 | After the market closes | 8-K β |
| Feb 18, 2025 | Q4 '24 | After the market closes | 8-K β |
| Oct 29, 2024 | Q3 '24 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
Revenue and margins
KIRA Β· BrightSpire Capital, Inc. had $331M of revenue in fiscal 2025, down 7.9% on the year before. Over five years, revenue changed +2.6% a year on average.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY16
Revenue $158M
FY17
Revenue $189M
FY18
Revenue $501M
FY19
Revenue $589M
FY20
Revenue $291M
FY21
Revenue $194M
FY22
Revenue $365M
FY23
Revenue $415M
FY24
Revenue $359M
FY25
Revenue $331M
Revenue
Q3 '23
Revenue $103M
Q4 '23
Revenue $103M
Q1 '24
Revenue $95.8M
Q2 '24
Revenue $91.4M
Q3 '24
Revenue $88.2M
Q4 '24
Revenue $83.5M
Q1 '25
Revenue $77.6M
Q2 '25
Revenue $85.9M
Q3 '25
Revenue $83.9M
Q4 '25
Revenue $83.2M
Q1 '26
Revenue $85.1M
Q2 '26
Revenue $83.5M
Margins, % of revenue
FY16
Gross β
Operating β
Net 48.1%
FCF β
FY17
Gross β
Operating β
Net 46.7%
FCF β
FY18
Gross β
Operating β
Net β33.6%
FCF β
FY19
Gross β
Operating β
Net β70.4%
FCF β
FY20
Gross β
Operating β
Net β121.4%
FCF β
FY21
Gross β
Operating β
Net β52.0%
FCF β
FY22
Gross β
Operating β
Net 12.6%
FCF β
FY23
Gross β
Operating β
Net β3.7%
FCF β
FY24
Gross β
Operating β
Net β36.8%
FCF β
FY25
Gross β
Operating β
Net β9.4%
FCF β
Gross
Operating
Net
FCF
Margins, % of revenue
Q3 '23
Gross β
Operating β
Net 12.1%
FCF β
Q4 '23
Gross β
Operating β
Net β15.9%
FCF β
Q1 '24
Gross β
Operating β
Net β59.6%
FCF β
Q2 '24
Gross β
Operating β
Net β74.2%
FCF β
Q3 '24
Gross β
Operating β
Net 14.4%
FCF β
Q4 '24
Gross β
Operating β
Net β23.7%
FCF β
Q1 '25
Gross β
Operating β
Net 6.9%
FCF β
Q2 '25
Gross β
Operating β
Net β26.9%
FCF β
Q3 '25
Gross β
Operating β
Net 1.2%
FCF β
Q4 '25
Gross β
Operating β
Net β17.3%
FCF β
Q1 '26
Gross β
Operating β
Net 5.7%
FCF β
Q2 '26
Gross β
Operating β
Net β21.9%
FCF β
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· BrightSpire Capital, Inc. lost $31.1M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY16
Net income $76.1M
FY17
Net income $88.5M
FY18
Net income β$168M
FY19
Net income β$415M
FY20
Net income β$353M
FY21
Net income β$101M
FY22
Net income $45.8M
FY23
Net income β$15.5M
FY24
Net income β$132M
FY25
Net income β$31.1M
Net income
Q3 '23
Net income $12.4M
Q4 '23
Net income β$16.3M
Q1 '24
Net income β$57.1M
Q2 '24
Net income β$67.9M
Q3 '24
Net income $12.7M
Q4 '24
Net income β$19.7M
Q1 '25
Net income $5.3M
Q2 '25
Net income β$23.1M
Q3 '25
Net income $1.0M
Q4 '25
Net income β$14.4M
Q1 '26
Net income $4.8M
Q2 '26
Net income β$18.3M
Diluted EPS
FY16
Diluted EPS $1.60
FY17
Diluted EPS $1.86
FY18
Diluted EPS β$1.41
FY19
Diluted EPS β$3.25
FY20
Diluted EPS β$2.75
FY21
Diluted EPS β$0.79
FY22
Diluted EPS $0.34
FY23
Diluted EPS β$0.12
FY24
Diluted EPS β$1.05
FY25
Diluted EPS β$0.26
Diluted EPS
Q3 '23
Diluted EPS $0.09
Q4 '23
Diluted EPS β$0.12
Q1 '24
Diluted EPS β$0.45
Q2 '24
Diluted EPS β$0.53
Q3 '24
Diluted EPS $0.09
Q4 '24
Diluted EPS β$0.16
Q1 '25
Diluted EPS $0.04
Q2 '25
Diluted EPS β$0.19
Q3 '25
Diluted EPS $0.00
Q4 '25
Diluted EPS β$0.11
Q1 '26
Diluted EPS $0.03
Q2 '26
Diluted EPS β$0.15
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY16
Free cash flow β
FY17
Free cash flow β
FY18
Free cash flow β
FY19
Free cash flow β
FY20
Free cash flow β
FY21
Free cash flow β
FY22
Free cash flow β
FY23
Free cash flow β
FY24
Free cash flow β
FY25
Free cash flow β
Cash from operations vs capital spending
FY16
Cash from operations $88.5M
Capital spending β
FY17
Cash from operations $107M
Capital spending β
FY18
Cash from operations $101M
Capital spending β
FY19
Cash from operations $137M
Capital spending β
FY20
Cash from operations $96.4M
Capital spending β
FY21
Cash from operations β$21.3M
Capital spending β
FY22
Cash from operations $125M
Capital spending β
FY23
Cash from operations $138M
Capital spending β
FY24
Cash from operations $103M
Capital spending β
FY25
Cash from operations $73.0M
Capital spending β
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '23
Cash from operations $38.5M
Capital spending β
Q4 '23
Cash from operations $36.4M
Capital spending β
Q1 '24
Cash from operations $24.6M
Capital spending β
Q2 '24
Cash from operations $22.9M
Capital spending β
Q3 '24
Cash from operations $31.3M
Capital spending β
Q4 '24
Cash from operations $24.7M
Capital spending β
Q1 '25
Cash from operations $10.5M
Capital spending β
Q2 '25
Cash from operations $17.4M
Capital spending β
Q3 '25
Cash from operations $29.9M
Capital spending β
Q4 '25
Cash from operations $15.2M
Capital spending β
Q1 '26
Cash from operations $10.9M
Capital spending β
Q2 '26
Cash from operations $29.4M
Capital spending β
Cash from operations
Capital spending
Dividends, buybacks and share count
KIRA Β· BrightSpire Capital, Inc. returned $93.9M to shareholders in fiscal 2025. The diluted share count fell 0.4%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY16
Dividends $0.0M
Buybacks β
FY17
Dividends $0.0M
Buybacks β
FY18
Dividends $185M
Buybacks β
FY19
Dividends $218M
Buybacks β
FY20
Dividends $51.7M
Buybacks $0.0M
FY21
Dividends $51.9M
Buybacks $0.0M
FY22
Dividends $99.4M
Buybacks $18.3M
FY23
Dividends $104M
Buybacks $0.0M
FY24
Dividends $99.1M
Buybacks $6.6M
FY25
Dividends $83.0M
Buybacks $10.9M
Dividends
Buybacks
Dividends and buybacks
Q3 '23
Dividends $26.0M
Buybacks $0.0M
Q4 '23
Dividends $26.0M
Buybacks $0.0M
Q1 '24
Dividends $26.0M
Buybacks β
Q2 '24
Dividends $26.0M
Buybacks β
Q3 '24
Dividends $26.2M
Buybacks $6.6M
Q4 '24
Dividends $20.8M
Buybacks $0.0M
Q1 '25
Dividends $20.7M
Buybacks β
Q2 '25
Dividends $20.8M
Buybacks β
Q3 '25
Dividends $20.9M
Buybacks $1.0M
Q4 '25
Dividends $20.6M
Buybacks $6.0M
Q1 '26
Dividends $21.9M
Buybacks β
Q2 '26
Dividends $20.8M
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
FY16
Diluted shares 0.04B
FY17
Diluted shares 0.04B
FY18
Diluted shares 0.12B
FY19
Diluted shares 0.13B
FY20
Diluted shares 0.13B
FY21
Diluted shares 0.13B
FY22
Diluted shares 0.13B
FY23
Diluted shares 0.13B
FY24
Diluted shares 0.13B
FY25
Diluted shares 0.13B
Insider trades
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
KIRA Β· BrightSpire Capital, Inc. owes $2.4B more than it holds in cash.
Cash, debt and the ratios that show how comfortably BrightSpire Capital, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY16
Cash $14.0M
Debt β
FY17
Cash $25.2M
Debt $390M
FY18
Cash $77.3M
Debt $2.6B
FY19
Cash $69.6M
Debt $3.2B
FY20
Cash $475M
Debt $2.4B
FY21
Cash $260M
Debt $3.2B
FY22
Cash $306M
Debt $3.2B
FY23
Cash $258M
Debt $2.7B
FY24
Cash $302M
Debt $2.5B
FY25
Cash $66.8M
Debt $2.5B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $260M | $306M | $258M | $302M | $66.8M |
| Debt incl. finance leases | $3.2B | $3.2B | $2.7B | $2.5B | $2.5B |
| Debt / equity | 2.2x | 2.3x | 2.1x | 2.4x | 2.6x |
| Total assets | $5.6B | $4.8B | $4.2B | $3.7B | $3.6B |
| Total liabilities | $4.1B | $3.4B | $2.9B | $2.7B | $2.6B |
| Shareholders' equity | $1.5B | $1.4B | $1.3B | $1.0B | $938M |
| Net debt (β = net cash) | $2.9B | $2.9B | $2.5B | $2.2B | $2.4B |
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY16
Return on capital β
Return on equity 6.2%
Return on assets β
FY17
Return on capital β
Return on equity 7.6%
Return on assets 4.8%
FY18
Return on capital β
Return on equity β8.9%
Return on assets β3.2%
FY19
Return on capital β
Return on equity β17.2%
Return on assets β5.2%
FY20
Return on capital β
Return on equity β18.7%
Return on assets β5.2%
FY21
Return on capital β
Return on equity β6.5%
Return on assets β1.7%
FY22
Return on capital β
Return on equity 3.2%
Return on assets 0.9%
FY23
Return on capital β
Return on equity β1.2%
Return on assets β0.3%
FY24
Return on capital β
Return on equity β11.4%
Return on assets β3.3%
FY25
Return on capital β
Return on equity β3.1%
Return on assets β0.9%
Return on capital
Return on equity
Return on assets
Piotroski F-score
KIRA Β· BrightSpire Capital, Inc. passes 4 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 4 | 2 / 7 | 3 / 7 | 3 / 7 | 3 / 7 | 5 / 7 | 5 / 7 | 2 / 7 | 4 / 7 |
| Accruals ratio | β | β1.0% | β5.1% | β6.9% | β6.6% | β1.3% | β1.5% | β3.4% | β5.9% | β2.9% |
| Altman Z'' | β | β | β | β | β | β | β | β | β | β |
All figures
Every number, year by year.
10 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $158M | $189M | $501M | $589M | $291M | $194M | $365M | $415M | $359M | $331M |
| Net interest income | $114M | $119M | $116M | $97.7M | $102M | β | β | β | β | β |
| Provision for credit losses | $3.4M | $0.5M | $109M | $221M | $78.6M | β | β | β | β | β |
| Interest expense | $26.0M | $21.0M | $47.1M | $87.7M | $63.0M | $55.5M | $112M | $173M | $27.0M | $23.7M |
| Pretax income | $94.5M | $105M | β$164M | β$496M | β$251M | $32.8M | $49.2M | β$23.6M | β$134M | β$60.3M |
| Income tax | $1.5M | $2.2M | $37.1M | $3.2M | β$10.9M | $6.3M | $2.4M | $1.1M | $1.1M | β$21.5M |
| Net income | $76.1M | $88.5M | β$168M | β$415M | β$353M | β$101M | $45.8M | β$15.5M | β$132M | β$31.1M |
| Net income to common | $71.1M | $82.8M | β$170M | β$417M | β$354M | β$101M | $44.2M | β$15.5M | β$134M | β$33.0M |
| Diluted EPS | $1.60 | $1.86 | β$1.41 | β$3.25 | β$2.75 | β$0.79 | $0.34 | β$0.12 | β$1.05 | β$0.26 |
| Diluted shares | 0.04B | 0.04B | 0.12B | 0.13B | 0.13B | 0.13B | 0.13B | 0.13B | 0.13B | 0.13B |
| Cash flow | ||||||||||
| Cash from operations | $88.5M | $107M | $101M | $137M | $96.4M | β$21.3M | $125M | $138M | $103M | $73.0M |
| Depreciation and amortization | $0.1M | $9.1M | $91.0M | $103M | $59.8M | $36.4M | $34.1M | $33.5M | $40.5M | $36.3M |
| Stock-based compensation | $0.0M | $0.0M | $7.1M | $10.8M | $4.4M | $14.0M | $7.9M | $14.1M | $11.6M | $12.8M |
| Share buybacks | β | β | β | β | $0.0M | $0.0M | $18.3M | $0.0M | $6.6M | $10.9M |
| Dividends paid | $0.0M | $0.0M | $185M | $218M | $51.7M | $51.9M | $99.4M | $104M | $99.1M | $83.0M |
| Dividends and buybacks | $0.0M | $0.0M | $185M | $218M | $51.7M | $51.9M | $118M | $104M | $106M | $93.9M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $14.0M | $25.2M | $77.3M | $69.6M | $475M | $260M | $306M | $258M | $302M | $66.8M |
| Total debt | β | $390M | $2.6B | $3.2B | $2.4B | $3.2B | $3.2B | $2.7B | $2.5B | $2.5B |
| Loans, net | β | β | β | $2.6B | $2.2B | $3.4B | $3.5B | $2.9B | $2.4B | $2.6B |
| Total assets | β | $1.8B | $8.7B | $7.4B | $6.2B | $5.6B | $4.8B | $4.2B | $3.7B | $3.6B |
| Total liabilities | β | $432M | $5.8B | $5.2B | $4.3B | $4.1B | $3.4B | $2.9B | $2.7B | $2.6B |
| Preferred stock | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $1.2B | $1.1B | $2.7B | $2.1B | $1.7B | $1.5B | $1.4B | $1.3B | $1.0B | $938M |
| Margins | ||||||||||
| Net margin | 48.1% | 46.7% | β33.6% | β70.4% | β121.4% | β52.0% | 12.6% | β3.7% | β36.8% | β9.4% |
| Net interest share of revenue | 72.3% | 62.9% | 23.1% | 16.6% | 35.2% | β | β | β | β | β |
| Returns | ||||||||||
| Return on equity | 6.2% | 7.6% | β8.9% | β17.2% | β18.7% | β6.5% | 3.2% | β1.2% | β11.4% | β3.1% |
| Return on assets | β | 4.8% | β3.2% | β5.2% | β5.2% | β1.7% | 0.9% | β0.3% | β3.3% | β0.9% |
| Return on tangible equity | 5.8% | 7.7% | β6.3% | β19.7% | β21.2% | β6.9% | 3.2% | β1.2% | β12.8% | β3.5% |
| Growth | ||||||||||
| Revenue growth | β | 19.7% | 164.3% | 17.5% | β50.6% | β33.2% | 87.7% | 13.8% | β13.6% | β7.9% |
| Net income growth | β | 16.4% | β290.4% | β | β | β | β | β134.0% | β | β |
| EPS growth | β | 16.3% | β175.8% | β | β | β | β | β135.3% | β | β |
| Share count change | β | 0.0% | 171.8% | 6.4% | 0.1% | β0.0% | 0.6% | β1.7% | 0.3% | β0.4% |
| Financial health | ||||||||||
| Debt / equity | β | 0.4x | 1.0x | 1.5x | 1.4x | 2.2x | 2.3x | 2.1x | 2.4x | 2.6x |
| Provision / loans | β | β | β | 8.6% | 3.6% | β | β | β | β | β |
| Capital allocation | ||||||||||
| Stock comp / revenue | 0.0% | 0.0% | 1.4% | 1.8% | 1.5% | 7.2% | 2.2% | 3.4% | 3.2% | 3.9% |
| Quality scores | ||||||||||
| Piotroski F-score | β | β | 2.0 | 3.0 | 3.0 | 3.0 | 5.0 | 5.0 | 2.0 | 4.0 |
| Accruals ratio | β | β1.0% | β5.1% | β6.9% | β6.6% | β1.3% | β1.5% | β3.4% | β5.9% | β2.9% |
Source: SEC EDGAR XBRL filings (CIK 0001717547). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.