Saul Centers, Inc.

BFS

BFSSaul Centers, Inc. US flag

New York Stock Exchange

35.30

USD

-0.23

- -

865.86MMarket Cap

Income Statement (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	174	190	198	207	209	217	226	227	232	225	239	246	257	269	290
+ Sales & Services Revenue	174	190	198	207	209	217	226	227	232	225	239	246	257	269	290
- Cost of Revenue	43	46	47	49	50	52	55	56	58	58	62	65	67	72	84
+ Cost of Goods & Services	43	46	47	49	50	52	55	56	58	58	62	65	67	72	84
Gross Profit	131	144	151	158	159	165	172	172	174	167	178	181	190	197	205
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	51	56	65	59	61	63	64	64	67	70	71	71	72	76	86
+ Selling, General & Admin	14	14	15	17	16	17	18	18	21	19	20	22	23	25	27
+ Research & Development	- -	- -	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	37	41	46	42	44	46	46	46	46	51	50	49	48	51	59
Operating Income (Loss)	79	88	86	99	98	101	108	107	106	97	107	110	118	121	120
- Non-Operating (Income) Loss	49	53	51	41	45	45	47	44	42	46	45	45	49	54	70
+ Interest Expense, Net	44	48	45	45	44	44	46	43	40	45	44	42	47	51	68
+ Interest Expense	44	48	45	45	44	44	46	43	41	45	44	42	47	52	68
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	5	5	6	-3	2	- -	1	1	2	1	2	3	2	2	3
Pretax Income	30	35	35	58	53	57	61	63	64	50	62	65	69	68	49
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	30	35	35	58	53	57	61	63	64	50	62	65	69	68	49
- Net Extraordinary Losses (Gains)	7	8	8	22	21	23	25	25	25	20	27	30	33	34	23
+ Discontinued Operations	- -	4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	7	4	8	22	21	23	25	25	25	20	27	30	33	34	23
Income (Loss) Incl. MI	23	27	27	36	32	34	36	38	39	30	35	35	36	34	26
- Minority Interest	-4	-6	-4	-11	-10	-11	-12	-13	-12	-10	-13	-15	-16	-17	-12
Net Income, GAAP	27	33	31	47	42	45	48	51	52	40	48	50	53	51	38
- Preferred Dividends	15	15	14	13	12	12	12	12	12	11	11	11	11	11	11
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	12	18	17	34	30	33	36	38	39	29	37	39	41	39	26
EBIT	79	88	86	99	98	101	108	107	106	97	107	110	118	121	120
EBITDA	115	129	135	141	142	146	153	153	153	97	107	110	118	121	120
EBITDA Margin (%)	65.96	67.66	68.22	67.9	67.72	67.22	67.8	67.42	66	42.87	44.76	44.73	45.95	45.09	41.28
EBITA	79	89	86	99	98	101	108	107	106	45	57	61	70	71	61
Gross Margin (%)	75.18	75.74	76.26	76.42	75.98	75.94	75.83	75.54	74.98	74.06	74.24	73.76	73.9	73.2	70.85
Operating Margin (%)	45.6	46.52	43.39	48.01	47.02	46.75	47.61	47.23	45.98	42.87	44.76	44.73	45.95	45.09	41.28
Profit Margin (%)	15.37	17.56	15.6	22.67	20.31	20.86	21.32	22.25	22.34	17.93	20.23	20.42	20.49	18.84	12.94
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	2.23	2.2	2.15	2.21	2.27	2.41	2.6	2.62	2.65	2.59	2.63	2.78	2.82	2.83	2.83
Depreciation Expense	35	40	49	41	43	44	46	46	46	51	50	49	48	51	59
Basic Weighted Avg Shares	19	20	20	21	21	22	22	22	23	23	24	24	24	24	24
Basic EPS, GAAP	0.61	0.93	0.83	1.62	1.42	1.53	1.64	1.71	1.72	1.25	1.57	1.63	1.73	1.64	1.09
Basic EPS from Cont Ops	1.61	1.8	1.71	2.79	2.51	2.64	2.77	2.82	2.79	2.15	2.61	2.73	2.87	2.81	2.04
Diluted Weighted Avg Shares	19	20	20	21	21	22	22	22	23	23	24	24	24	24	24
Diluted EPS, GAAP	0.61	0.93	0.83	1.61	1.42	1.52	1.63	1.71	1.71	1.25	1.57	1.63	1.73	1.63	1.09
Diluted EPS from Cont Ops	1.6	1.79	1.71	2.79	2.5	2.62	2.76	2.81	2.78	2.15	2.61	2.73	2.87	2.8	2.04

Balance Sheet (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	55	57	65	63	66	66	70	74	72	92	73	70	64	61	70
+ Cash, Cash Equivalents & STI	12	12	17	12	10	8	11	15	14	27	15	13	8	10	9
+ Cash & Cash Equivalents	12	12	17	12	10	8	11	15	14	27	15	13	8	10	9
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	39	41	44	47	51	53	54	54	52	65	59	56	56	51	61
+ Accounts Receivable, Net	39	41	44	47	51	53	54	54	52	65	59	56	56	51	61
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	4	4	4	4	5	5	5	5	5	- -	- -	- -	- -	- -	- -
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	1,137	1,150	1,133	1,204	1,230	1,277	1,352	1,454	1,547	1,554	1,674	1,764	1,930	2,065	2,093
+ Property, Plant & Equip, Net	1,091	- -	-365	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip	1,418	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Accumulated Depreciation	326	- -	365	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	46	1,150	1,498	1,204	1,230	1,277	1,352	1,454	1,547	1,554	1,674	1,764	1,930	2,065	2,093
+ Total Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	46	1,150	1,498	1,204	1,230	1,277	1,352	1,454	1,547	1,554	1,674	1,764	1,930	2,065	2,093
Total Assets	1,193	1,207	1,199	1,267	1,295	1,343	1,422	1,527	1,618	1,646	1,747	1,833	1,994	2,126	2,163
+ Payables & Accruals	36	41	33	38	43	39	42	52	54	44	47	65	80	70	61
+ Accounts Payable	23	27	20	24	28	21	23	32	35	24	26	43	57	46	37
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	13	13	13	14	15	18	19	19	19	19	22	22	23	23	24
+ ST Debt	8	38	- -	43	27	48	61	45	86	104	103	162	275	186	145
+ ST Borrowings	8	38	- -	43	27	48	61	45	86	104	103	162	275	186	145
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	31	- -	30	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	-31	- -	-30	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	44	79	33	81	70	87	102	97	141	148	150	227	355	256	205
+ LT Debt	824	790	820	814	840	852	898	977	1,005	1,047	1,041	1,061	1,112	1,346	1,457
+ LT Borrowings	824	790	820	814	840	852	898	977	1,005	1,047	1,041	1,061	1,112	1,346	1,457
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	31	31	30	32	32	31	29	29	29	23	25	23	23	23	23
+ Accrued Liabilities	31	31	30	32	32	31	29	29	29	23	25	23	23	23	23
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Liabilities	855	821	850	847	872	883	927	1,005	1,034	1,070	1,066	1,084	1,135	1,369	1,480
Total Liabilities	899	900	884	928	942	970	1,029	1,102	1,175	1,218	1,216	1,312	1,490	1,625	1,685
+ Preferred Equity and Hybrid Capital	179	179	180	180	180	180	180	180	185	185	185	185	185	185	185
+ Share Capital & APIC	218	247	271	288	305	328	353	385	411	421	437	447	450	454	459
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	218	247	270	288	305	328	353	385	411	421	437	446	450	454	459
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-145	-155	-173	-174	-180	-189	-198	-209	-221	-242	-256	-274	-289	-307	-338
+ Other Equity	-3	-4	-1	-2	-2	-1	-1	- -	- -	- -	- -	3	2	3	1
Equity Before Minority Interest	250	268	277	293	303	319	334	356	375	364	405	400	348	336	308
+ Minority/Non Controlling Interest	43	40	38	47	50	55	59	69	68	63	125	121	156	165	169
Total Equity	293	307	315	339	354	373	393	425	443	428	530	522	504	501	477
Total Liabilities & Equity	1,193	1,207	1,199	1,267	1,295	1,343	1,422	1,527	1,618	1,646	1,747	1,833	1,994	2,126	2,163
Shares Outstanding	19	20	21	21	21	22	22	23	23	23	24	24	24	24	25
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	820	816	803	845	857	892	948	1,007	1,077	1,124	1,129	1,210	1,379	1,522	1,593
Net Debt to Equity	279.51	265.43	254.75	249.15	242.14	238.97	241.09	236.88	242.98	262.92	212.87	231.82	273.3	303.78	333.8
Tangible Common Equity Ratio	9.55	10.6	11.27	12.57	13.41	14.39	14.98	16.05	15.96	14.74	19.78	18.37	16.02	14.87	13.51
Current Ratio	1.25	0.73	1.96	0.78	0.94	0.76	0.69	0.76	0.51	0.62	0.49	0.31	0.18	0.24	0.34
Cash Conversion Cycle	-117.57	-122.26	-106.18	-83.33	-100.7	-82.3	-60.55	-95.69	-129.31	-91.15	-53.62	-108.5	-192.1	-188.7	-108.46

Cash Flow Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	30	40	35	58	53	57	61	63	64	50	62	65	69	68	49
+ Depreciation & Amortization	35	40	49	41	43	44	46	46	46	- -	- -	- -	- -	- -	- -
+ Non-Cash Items	-1	-6	-3	-7	-2	-1	-1	-2	3	51	53	50	47	49	61
+ Stock-Based Compensation	1	1	1	1	1	2	2	2	2	1	2	2	1	2	2
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	1	1	5	1	- -	1	1	2
+ Other Non-Cash Adj	-2	-7	-4	-8	-3	-3	-2	-5	- -	44	50	49	45	46	58
+ Chg in Non-Cash Work Cap	-9	5	-8	-6	-6	-11	-2	4	2	-23	4	5	2	5	-11
+ (Inc) Dec in Accts Receiv	-5	-3	-4	-3	-5	-4	-2	- -	- -	-18	5	2	- -	4	-12
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	-1	- -	- -	- -	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	1	-1	-3	1	-1	1	1	- -	- -	1	- -	1	2	-1	- -
+ Inc (Dec) in Other	-5	9	-1	-4	1	-8	-1	4	1	-6	-1	2	- -	1	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	56	78	74	87	89	89	103	110	115	78	118	121	118	121	100
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-182	- -	-19	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	-182	- -	-19	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	27	28	22	16	16	22	23	31	25	8	14	8	2	2	3
+ Increase in Capital Stock	27	28	22	16	16	22	23	31	25	8	14	8	2	2	3
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	-21	-8	-7	-18	-46	-27	-23	-76	-114	-36	-26	-101	-177	-152	-53
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	-21	-8	-7	-18	-46	-27	-23	-76	-114	-36	-26	-101	-177	-152	-53
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	1	-39	- -	-66	-24	-59	-90	-52	-22	-20	-30	-16	-26	-37	-43
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-202	-47	-26	-84	-70	-86	-113	-129	-136	-56	-56	-117	-204	-189	-96
+ Dividends Paid	-42	-43	-44	-46	-48	-52	-57	-59	-61	-61	-62	-67	-68	-68	-68
+ Net Cash From Debt	120	-4	-8	26	18	33	58	67	69	59	-5	142	280	146	73
+ Cash From Debt	315	122	244	95	106	115	164	255	290	178	82	510	418	464	276
+ Repayments of Debt	-195	-126	-251	-69	-88	-82	-107	-189	-221	-119	-87	-368	-138	-318	-203
+ Other Financing Activities	40	-12	-13	-4	-7	-7	-11	-16	-13	-16	-22	-89	-133	-11	-13
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	145	-32	-42	-8	-21	-4	12	22	20	-9	-75	-6	81	69	-6
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-1	- -	5	-5	-2	-2	3	4	-1	13	-12	-1	-5	2	-2
EBITDA	115	129	135	141	142	146	153	153	153	97	107	110	118	121	120
EBITDA Margin (%)	65.96	67.66	68.22	67.9	67.72	67.22	67.8	67.42	66	42.87	44.76	44.73	45.95	45.09	41.28
Free Cash Flow	-126	78	54	87	89	89	103	110	115	78	118	121	118	121	100
Net Cash Paid for Acquisitions	21	8	7	18	46	27	23	76	114	36	26	101	177	152	53
Free Cash Flow to Firm	-82	126	100	131	133	133	149	154	156	123	162	163	165	173	168
Free Cash Flow to Equity	-21	59	33	100	94	109	149	165	177	127	102	252	386	256	162
Free Cash Flow per Basic Share	-6.67	3.99	2.67	4.17	4.21	4.14	4.72	4.93	5.01	3.36	5.01	5.06	4.89	5.04	4.13
Price/Free Cash Flow	2.83	10.75	10.51	13.76	12.22	16.16	13.14	9.6	10.55	9.44	10.59	8.05	8.02	7.75	7.63
Cash Flow to Net Income	2.08	2.35	2.38	1.84	2.09	1.97	2.14	2.18	2.23	1.94	2.45	2.41	2.23	2.39	2.66
Capital Expenditures	-182	- -	-19	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -