Saul Centers, Inc. income statement BFS-PD

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Saul Centers, Inc. reported revenue of $289.8 million, up 7.8% from the year before. Net income was $37.5 million, a profit margin of 12.9%. Operating income came to $195.3 million, an operating margin of 67.4%. Diluted earnings per share were $1.09. Over the twelve months ended Sep 30, 2026, revenue was $308.6 million and net income was $33.8 million. Across the 10 fiscal years shown, revenue grew from $217.0 million in fiscal 2016 to $289.8 million in fiscal 2025, about 3.3% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

FY 2026
Sep 30, 2026
FY 2025
Dec 31, 2025
FY 2024
Dec 31, 2024
FY 2023
Dec 31, 2023
FY 2022
Dec 31, 2022
FY 2021
Dec 31, 2021
FY 2020
Dec 31, 2020
FY 2019
Dec 31, 2019
FY 2018
Dec 31, 2018
FY 2017
Dec 31, 2017
FY 2016
Dec 31, 2016
Revenue
309
+9.2%
290
+7.8%
269
+4.5%
257
+4.6%
246
+2.8%
239
+6.2%
225
-2.7%
232
+1.9%
227
+0.4%
226
+4.3%
217
+3.8%
Cost of revenue
—
—
—
67
+4.1%
65
+4.7%
62
+5.5%
58
+0.8%
58
+4.2%
56
—
—
Gross profit
—
—
—
190
+4.8%
181
+2.1%
178
+6.5%
167
-3.9%
174
+1.1%
172
+0.0%
172
+5.1%
163
+3.4%
Selling, general and administrative
28
+4.9%
27
+7.4%
25
+6.9%
23
+4.8%
22
+10.6%
20
+6.0%
19
-8.1%
21
+12.6%
18
+1.6%
18
+3.9%
17
+7.0%
Operating income
206
195
-4.1%
204
—
—
—
—
—
63
+3.2%
61
+8.8%
56
+5.3%
Net income
34
-13.4%
38
-25.9%
51
-3.9%
53
+5.0%
50
+3.7%
48
+19.8%
40
-21.9%
52
+2.3%
51
+4.8%
48
+6.6%
45
+6.6%
Net income to common
23
-18.8%
26
-33.3%
39
-4.9%
41
+6.4%
39
+4.9%
37
+27.4%
29
-19.5%
36
+0.8%
36
+0.2%
36
+9.1%
33
+9.3%
Basic EPS
0.93
-19.4%
1.09
-33.5%
1.64
-5.2%
1.73
+6.1%
1.63
+3.8%
1.57
+25.6%
1.25
-20.9%
1.58
-1.9%
1.61
-1.8%
1.64
+7.2%
1.53
+7.7%
Diluted EPS
0.93
-19.4%
1.09
-33.1%
1.63
-5.8%
1.73
+6.1%
1.63
+3.8%
1.57
+25.6%
1.25
-20.4%
1.57
-1.9%
1.60
-1.8%
1.63
+7.2%
1.52
+7.0%
Weighted average shares, basic
24
+0.7%
24
+0.4%
24
+0.3%
24
+0.4%
24
+1.3%
24
+1.3%
23
+1.5%
23
+2.8%
22
+2.2%
22
+1.8%
22
+1.8%
Weighted average shares, diluted
24
+0.7%
24
+0.4%
24
+0.4%
24
+0.3%
24
+1.3%
24
+1.3%
23
+1.3%
23
+2.8%
22
+1.9%
22
+1.8%
22
+2.0%
Other measures
Depreciation and amortization
64
+12.3%
59
+16.4%
51
+4.3%
48
-1.1%
49
-2.6%
50
-1.7%
51
+10.3%
46
+1.0%
46
+0.4%
46
+2.9%
44
+2.7%
EBITDA
270
254
-0.1%
254
—
—
—
—
—
108
+2.0%
106
+6.2%
100
+4.1%
Interest coverage
—
2.76x
3.78x
—
—
—
—
—
—
—
—
Margins
Gross margin
—
—
—
73.90%
73.76%
74.24%
74.06%
74.98%
75.54%
75.83%
75.26%
Operating margin
66.69%
67.39%
75.79%
—
—
—
—
—
27.53%
26.78%
25.67%
Profit margin
10.97%
12.94%
18.84%
20.49%
20.42%
20.23%
17.93%
22.34%
22.25%
21.32%
20.86%
EBITDA margin
87.48%
87.67%
94.58%
—
—
—
—
—
47.71%
46.97%
46.14%
How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.

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Company profile

Industry
Real Estate Investment Trusts (SIC 6798)
Listed as
BFS (NYSE), BFS-PD (NYSE), BFS-PE (NYSE)
Fiscal year ends
December 31
Incorporated in
MD
Headquarters
Bethesda, MD
SEC filer status
Accelerated filer
SEC CIK
907254
Former names
SAUL CENTERS INC (until Feb 27, 2020)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.