BrightSpire Capital, Inc. Financial Ratios — BRSP Stock

Profitability (USD)

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	68.4	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	8.44	4.86	-3.21	-5.16	-5.19	-1.71	0.88	-0.35	-3.33	-0.85
Return on Capital (%)	- -	16.83	7.27	- -	- -	- -	-1.98	2.19	- -	- -	- -
Return on Invested Capital (%)	- -	10.9	6.28	- -	- -	- -	1.23	0.72	- -	- -	- -
Gross Margin (%)	98.24	80.99	82.32	46.53	43.48	50.05	59.38	53.85	49.01	45.91	40.1
EBITDA Margin (%)	84.01	68.08	74.75	8.49	-9.76	18.72	42.13	22.68	11.57	-3.22	20.57
Operating Margin (%)	84.01	67.97	69.18	-10.73	-28.57	4.62	30.83	13.03	3	-14.92	9.3
Incremental Operating Margin (%)	- -	5.56	76.85	- -	- -	-141.26	-79.03	-149.21	-104.12	- -	-331.51
Pretax Margin (%)	72.62	66.69	64.27	-34.66	-90.37	-59.22	10.16	13.72	-6.02	-38.72	-18.69
Profit Margin (%)	71.47	53.68	53.98	-35.6	-75.46	-83.26	-31.28	12.77	-3.97	-38.01	-9.66
Net Income to Common Margin (%)	71.47	53.68	53.98	-35.6	-75.46	-83.26	-31.28	12.77	-3.97	-38.01	-9.66
Effective Tax Rate (%)	0.3	1.61	2.1	- -	- -	- -	19.13	4.96	- -	- -	- -
Dvd Payout Ratio (%)	- -	86.01	178.96	-99.51	-42.62	-13	-48.02	207.97	-662.57	-71.24	-178.93
Sustainable Growth Rate (%)	- -	- -	-54.01	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	502	390	6,960	6,076	4,660	4,875	4,530	2,739	2,516	2,491
ST Debt	- -	- -	- -	1,366	1,099	535	905	1,340	- -	- -	- -
LT Debt	- -	502	390	5,594	4,977	4,125	3,969	3,190	2,739	2,516	2,491
Total Debt/EBITDA	- -	5.21	3.18	173.23	-113.29	58.67	35.81	55.71	60.35	-224.99	37.55
Net Debt/EBITDA	- -	5.06	2.97	171.31	-111.52	52.41	33.72	51.62	54.17	-195.81	36.23
Total Debt/EBIT	- -	5.22	3.44	-136.99	-38.71	237.95	48.93	96.96	232.64	-48.56	83
Net Debt/EBIT	- -	5.07	3.21	-135.47	-38.11	212.57	46.07	89.85	208.82	-42.26	80.09
EBITDA to Interest Expense	5	- -	24.06	0.92	-0.97	1.63	4.22	2.83	1.75	-0.41	2.8
EBITDA-CapEx/Interest Expense	5	- -	24	0.92	-0.97	1.63	4.22	2.83	1.75	-0.41	2.8
EBIT to Interest Expense	5	- -	22.26	-1.17	-2.83	0.4	3.09	1.63	0.45	-1.92	1.27
Interest Expense	19	- -	5	43	55	49	32	29	26	27	24
Common Equity/Total Assets	- -	- -	14.07	-2.22	-11.04	-19.85	-24.99	-30.85	-37.75	-48.63	-54
Long-Term Debt/Equity (%)	- -	40.66	27.68	196.62	226.08	210.61	266.17	229.69	214.23	240.54	268.27
Long-Term Debt/Capital (%)	- -	98.11	39.92	81	93.2	110.88	113.37	104.04	237.12	358.13	448.24
Long-Term Debt/Total Assets (%)	- -	27.88	21.18	64.59	67.13	66.41	70.4	67.16	65.24	67.56	69.87
Total Debt/Equity (%)	- -	40.66	27.68	244.63	276.02	237.94	326.86	326.16	214.23	240.54	268.27
Total Debt/Capital (%)	- -	98.11	39.92	100.78	113.79	125.26	139.22	147.74	237.12	358.13	448.24
Total Debt/Total Assets (%)	- -	27.88	21.18	80.36	81.95	75.02	86.45	95.37	65.24	67.56	69.87
Net Debt to Equity	- -	39.53	25.89	241.91	271.7	212.56	307.75	302.24	192.3	209.34	258.84
Net Debt/Capital (%)	- -	98.06	38.32	100.79	113.48	128.28	141.59	152.1	273.91	546.99	491.59
EBITDA	95	96	123	40	-54	79	136	81	45	-11	66
EBITDA-CapEx	95	96	122	40	-54	79	136	81	45	-11	66
Operating Income (Loss)	95	96	113	-51	-157	20	100	47	12	-52	30

Liquidity (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	- -	0.22	0.6	1.67	1.79	4.08	1.52	1.85	1.47	1.91	0.46
Current Ratio	- -	25.31	33.43	30.89	26.99	41.06	27.72	23.73	18.87	18.15	19.52
Quick Ratio	- -	23.94	32.43	13.2	15.58	22.95	22.19	23.17	18.16	17.17	18.78
CFO/Avg Current Liab	- -	2.76	2.01	0.9	0.73	0.62	-0.15	0.75	0.81	0.62	0.48
Common Equity/Total Assets	- -	- -	14.07	-2.22	-11.04	-19.85	-24.99	-30.85	-37.75	-48.63	-54
Long-Term Debt/Equity (%)	- -	40.66	27.68	196.62	226.08	210.61	266.17	229.69	214.23	240.54	268.27
Long-Term Debt/Capital (%)	- -	98.11	39.92	81	93.2	110.88	113.37	104.04	237.12	358.13	448.24
Long-Term Debt/Total Assets (%)	- -	27.88	21.18	64.59	67.13	66.41	70.4	67.16	65.24	67.56	69.87
Total Debt/Equity (%)	- -	40.66	27.68	244.63	276.02	237.94	326.86	326.16	214.23	240.54	268.27
Total Debt/Capital (%)	- -	98.11	39.92	100.78	113.79	125.26	139.22	147.74	237.12	358.13	448.24
Total Debt/Total Assets (%)	- -	27.88	21.18	80.36	81.95	75.02	86.45	95.37	65.24	67.56	69.87
CFO/Total Liabilities	- -	15.62	24.77	1.73	2.63	2.27	-0.51	3.73	4.71	3.86	2.77
CFO/CapEx	- -	1,321.01	342.89	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	1.29	1.39	0.97	0.86	0.87	0.94	0.77	0.67	0.4	0.43

Working Capital (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	- -	9.23	11.23	11.53	10.12	7.03	7.53	9.55	8.66	7.65
Days Sales Outstanding	- -	- -	39.53	32.51	31.65	36.05	51.9	48.46	38.24	42.14	47.71
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	16.42	15.49	10.81	9.78	7.45	9.39	12.25	10.61	8.9
Accounts Payable Turnover Days	- -	- -	22.23	23.57	33.76	37.33	49.02	38.89	29.81	34.4	41
Cash Conversion Cycle	- -	- -	17.3	8.94	-2.11	-1.28	2.87	9.57	8.43	7.74	6.71
Inventory to Cash Days	- -	- -	39.53	32.51	31.65	36.05	51.9	48.46	38.24	42.14	47.71
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	- -	1,905	1,690	964	1,318	793	945	719	711
- Cash & Cash Equivalents	- -	14	25	77	70	475	260	306	258	302	67
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	10	328	138	82	293	36	1	1	-2	-10
+ Total Debt	- -	502	390	6,960	6,076	4,660	4,875	4,530	2,739	2,516	2,491
Enterprise Value	- -	498	692	8,698	7,505	5,432	5,969	5,018	3,428	2,930	3,124
Total Capital	- -	512	976	6,906	5,340	3,720	3,501	3,066	1,155	702	556
Total Debt/Capital (%)	- -	98.11	39.92	100.78	113.79	125.26	139.22	147.74	237.12	358.13	448.24
Total Debt / EV	- -	1.01	0.56	0.8	0.81	0.86	0.82	0.9	0.8	0.86	0.8
EV/Sales	- -	3.52	4.22	18.38	13.66	12.8	18.48	14	8.74	8.44	9.69
EV/EBITDA	- -	5.16	5.65	216.5	- -	68.38	43.85	61.71	75.53	- -	47.1
EV/EBIT	- -	5.17	6.1	- -	- -	277.36	59.92	107.4	291.16	- -	104.12
EV/Cash Flow to Firm	- -	5.63	6.18	56.49	38.9	37.96	1,234.9	32.89	20.81	22.43	35.39
EV/Free Cash Flow to Firm	- -	5.62	6.16	56.49	38.9	37.96	1,234.9	32.89	20.81	22.43	35.39
Diluted Market Cap	- -	- -	- -	1,905	1,690	964	1,318	806	945	719	711
Diluted Enterprise Value	- -	498	692	8,927	7,778	5,443	5,969	5,031	3,428	2,930	3,124
EV per Share	- -	3.89	5.41	72.08	58.45	42.26	46.45	39.42	26.98	22.99	24.62
TTM Sales	113	142	164	473	549	424	323	359	392	347	323
TTM EBITDA	95	96	123	40	-54	79	136	81	45	-11	66
TTM Operating Income	95	96	113	-51	-157	20	100	47	12	-52	30
TTM Cash Flow to Firm	84	89	112	154	193	143	5	153	165	131	88
TTM Free Cash Flow to Firm	84	89	112	154	193	143	5	153	165	131	88

Multiples (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	- -	18.92	12.32	10.01	-61.98	6.43	6.87	6.95	9.73
EV/EBIT	- -	5.17	6.1	- -	- -	277.36	59.92	107.4	291.16	- -	104.12
Enterprise Value	- -	498	692	8,698	7,505	5,432	5,969	5,018	3,428	2,930	3,124
Low Price	- -	- -	- -	15.56	11.18	2.46	7.05	6.11	5.2	5.07	4.16
EV/Sales	- -	3.52	4.22	18.38	13.66	12.8	18.48	14	8.74	8.44	9.69
EV/EBITDA	- -	5.16	5.65	216.5	- -	68.38	43.85	61.71	75.53	- -	47.1
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	17.32	- -	- -	- -
Price/Earnings Average	- -	- -	- -	-14.15	-4.66	-2.59	-11.8	22.87	-53.46	-6.01	-22.23
Price/Earnings High	- -	- -	- -	-16.64	-5.57	-5.1	-13.58	28.97	-65.45	-7.44	-25.74
Price/Earnings Low	- -	- -	- -	-11.14	-3.46	-0.9	-8.97	16.99	-42.49	-4.9	-16.95
Price/Book Value	- -	- -	- -	-9.92	-2.06	-0.78	-0.94	-0.54	-0.6	-0.4	-0.37
Price/Book Value Average	- -	- -	- -	-12.42	-2.36	-0.74	-0.85	-0.71	-0.52	-0.44	-0.36
Price/Book Value High	- -	- -	- -	-14.6	-2.82	-1.46	-0.97	-0.91	-0.64	-0.54	-0.42
Price/Book Value Low	- -	- -	- -	-9.78	-1.75	-0.26	-0.64	-0.53	-0.42	-0.36	-0.27
Price/Tangible Book Value	- -	- -	- -	0.7	0.81	0.51	0.92	0.59	0.78	0.72	0.79
Price/Tangible Book Value Average	- -	- -	- -	0.88	0.92	0.49	0.84	0.78	0.68	0.79	0.77
Price/Tangible Book Value High	- -	- -	- -	1.03	1.11	0.96	0.96	0.99	0.83	0.98	0.89
Price/Tangible Book Value Low	- -	- -	- -	0.69	0.69	0.17	0.64	0.58	0.54	0.65	0.59
Price/Sales	- -	- -	- -	4.03	3.08	2.27	4.08	2.21	2.41	2.07	2.2
Price/Sales Average	- -	- -	- -	5.04	3.52	2.16	3.69	2.92	2.12	2.28	2.15
Price/Sales High	- -	- -	- -	5.92	4.2	4.24	4.25	3.7	2.6	2.83	2.49
Price/Sales Low	- -	- -	- -	3.97	2.61	0.75	2.8	2.17	1.69	1.86	1.64
Price/Cash Flow	- -	- -	- -	18.92	12.32	10.01	-61.98	6.33	6.87	6.95	9.73
Price/Cash Flow Average	- -	- -	- -	23.67	14.08	9.51	-56.05	8.36	6.04	7.67	9.48
Price/Cash Flow High	- -	- -	- -	27.83	16.84	18.69	-64.52	10.59	7.4	9.5	10.98
Price/Cash Flow Low	- -	- -	- -	18.64	10.46	3.28	-42.59	6.21	4.8	6.25	7.23
Price/Free Cash Flow Average	- -	- -	- -	23.67	14.08	9.51	-56.05	8.49	6.04	7.67	9.48
Price/Free Cash Flow High	- -	- -	- -	27.83	16.84	18.69	-64.52	10.75	7.4	9.5	10.98
Price/Free Cash Flow Low	- -	- -	- -	18.64	10.46	3.28	-42.59	6.31	4.8	6.25	7.23
EV/Sales Average	- -	3.52	4.22	19.87	14.6	12.71	18.09	14.71	8.45	8.65	9.63
EV/Sales High	- -	3.52	4.22	20.75	15.29	14.8	18.64	15.48	8.93	9.2	9.97
EV/Sales Low	- -	3.52	4.22	18.8	13.7	11.3	17.2	13.95	8.02	8.23	9.12
EV/EBITDA Average	- -	5.16	5.65	234.1	-149.53	67.91	42.93	64.84	73.02	-268.65	46.83
EV/EBITDA High	- -	5.16	5.65	244.52	-156.6	79.05	44.25	68.27	77.13	-285.63	48.48
EV/EBITDA Low	- -	5.16	5.65	221.49	-140.29	60.36	40.82	61.52	69.26	-255.54	44.35
EV/EBIT Average	- -	5.17	6.1	-185.12	-51.1	275.43	58.66	112.84	281.47	-57.98	103.51
EV/EBIT High	- -	5.17	6.1	-193.36	-53.51	320.61	60.46	118.82	297.31	-61.64	107.16
EV/EBIT Low	- -	5.17	6.1	-175.15	-47.94	244.81	55.78	107.08	266.99	-55.15	98.03
Last Price	- -	- -	- -	15.79	13.16	7.5	10.26	6.23	7.44	5.64	5.6
High Price	- -	- -	- -	23.23	17.99	14.01	10.68	10.42	8.01	7.71	6.32
Enterprise Value Average	- -	498	692	9,406	8,020	5,395	5,843	5,273	3,314	3,004	3,106
Enterprise Value High	- -	498	692	9,824	8,399	6,280	6,023	5,552	3,500	3,194	3,216
Enterprise Value Low	- -	498	692	8,899	7,524	4,795	5,557	5,003	3,143	2,857	2,942

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	- -	128	128	128	129	129	130	129	130	130	129
Diluted Weighted Avg Shares	128	128	128	121	128	129	128	129	127	127	127
Basic Weighted Avg Shares	128	128	128	121	128	129	128	127	127	127	127
Revenue per Share	0.88	1.11	1.28	3.92	4.28	3.3	2.51	2.82	3.09	2.72	2.54
EBITDA per Share	0.74	0.75	0.96	0.33	-0.42	0.62	1.06	0.64	0.36	-0.09	0.52
Operating Income per Share	0.74	0.75	0.89	-0.42	-1.22	0.15	0.78	0.37	0.09	-0.41	0.24
Basic EPS, GAAP	0.63	0.59	0.69	-1.4	-3.23	-2.75	-0.79	0.36	-0.12	-1.04	-0.25
Basic EPS from Cont Ops	0.64	0.85	1	-1.47	-3.6	-2.92	-0.81	0.37	-0.12	-1.06	-0.31
Diluted EPS, GAAP	0.63	0.59	0.69	-1.4	-3.23	-2.75	-0.79	0.35	-0.12	-1.04	-0.25
Diluted EPS from Cont Ops	0.64	0.85	1	-1.47	-3.6	-2.92	-0.81	0.36	-0.12	-1.06	-0.31
Dividend per Share	- -	0.96	2.34	1.54	1.7	0.4	0.4	0.78	0.82	0.78	0.65
Cash Flow per Share	0.51	0.69	0.84	0.83	1.07	0.75	-0.17	0.98	1.08	0.81	0.58
Free Cash Flow per Basic Share	0.51	0.69	0.83	0.83	1.07	0.75	-0.17	0.98	1.08	0.81	0.58
Cash & Equivalents per Share	- -	0.11	0.2	2.53	2.67	3.77	2.02	2.41	2.03	2.37	0.53
Book Value per Share	- -	- -	2.02	-1.59	-6.37	-9.59	-10.97	-11.51	-12.47	-14.21	-15.17
Tangible Book Value per Share	- -	9.66	10.92	22.47	16.27	14.65	11.1	10.49	9.6	7.84	7.1

BrightSpire Capital, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)