Franklin BSP Realty Trust, Inc. Financial Ratios — FBRT-PE

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 (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	4.81	2.39	2.52	2.73	1.63	0.41	0.18	2.39	1.6	1.36
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	5.76	2.58	2.33	1.9	- -	1.74	- -	- -	1.89	1.4
Gross Margin (%)	79.34	70.82	63.87	54.03	53.03	61.88	74.65	56.3	46.35	38.34	42.45
EBITDA Margin (%)	57.57	44.83	40.68	30.77	28.98	33.34	55.6	28.98	28.65	21.21	18.89
Operating Margin (%)	57.57	44.83	40.68	30.77	28.98	32.13	54.65	27.53	27.17	20.18	16.97
Incremental Operating Margin (%)	- -	7	8.3	16.61	23.08	-11.59	165.3	-13.71	26.53	213.51	53.74
Pretax Margin (%)	41.98	37.77	37.97	34.74	44.54	28.61	13.22	3.76	24.89	17.04	17.56
Profit Margin (%)	41.98	37.77	37.71	34.69	42.29	29.73	11.6	3.93	25.5	17.47	16.42
Net Income to Common Margin (%)	41.98	37.77	37.71	32.29	34.56	21.62	-3.56	-7.43	20.76	12.55	11.03
Effective Tax Rate (%)	- -	- -	0.66	0.15	5.07	- -	12.28	- -	- -	1.2	4.42
Dvd Payout Ratio (%)	108.09	134.21	114.95	67.73	66.01	87.56	-435.87	-352.08	100.47	190.38	201.31
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

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	- -	603	957	1,709	2,485	2,149	7,571	4,448	4,183	4,313	4,250
ST Debt	- -	67	39	45	394	187	4,179	440	174	237	187
LT Debt	- -	536	918	1,665	2,091	1,962	3,392	4,008	4,009	4,076	4,063
Total Debt/EBITDA	- -	16.93	26.25	36.48	43.21	35	61.44	41.78	25.63	37.05	44.92
Net Debt/EBITDA	- -	13.62	23.95	32.39	41.59	33.66	60.18	40.04	23.56	35.47	43.15
Total Debt/EBIT	- -	16.93	26.25	36.48	43.21	36.32	62.51	43.98	27.03	38.93	49.99
Net Debt/EBIT	- -	13.62	23.95	32.39	41.59	34.94	61.23	42.14	24.84	37.27	48.02
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	- -	-5.64	-5.92	-3.6	-2.42	-3.32	-1.76	-4.81	-5.01	-5.79	-6.77
Long-Term Debt/Equity (%)	- -	84.61	150.33	227.03	256	245.78	198.22	253.95	252.72	268.17	265.29
Long-Term Debt/Capital (%)	- -	100.7	106.34	103.05	80.15	96.05	40.48	90.6	96.12	96.32	97
Long-Term Debt/Total Assets (%)	- -	42.95	57.94	63.87	59.06	61.52	35.8	64.61	67.31	67.91	67.08
Total Debt/Equity (%)	- -	95.12	156.73	233.1	304.28	269.18	442.39	281.82	263.7	283.74	277.53
Total Debt/Capital (%)	- -	113.21	110.87	105.81	95.26	105.19	90.35	100.55	100.29	101.91	101.47
Total Debt/Total Assets (%)	- -	48.29	60.4	65.58	70.2	67.38	79.91	71.7	70.24	71.85	70.17
Net Debt to Equity	- -	76.49	143.01	207	292.85	258.9	433.34	270.06	242.41	271.6	266.6
Net Debt/Capital (%)	- -	116.98	112.03	106.59	94.86	105.41	90.17	100.42	100.32	102	101.53
EBITDA	34	36	36	47	58	61	123	106	163	116	95
EBITDA-CapEx	34	36	36	47	58	61	123	106	163	116	94
Operating Income (Loss)	34	36	36	47	58	59	121	101	155	111	85

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	- -	1.51	1.51	3.13	0.21	0.37	1.11	0.79	1.25	0.61	0.61
Current Ratio	- -	15.28	28.5	42.12	7.32	13.53	2.2	11.01	20.08	17.75	18.43
Quick Ratio	- -	15.21	28.35	41.91	7.27	13.49	2.18	10.99	20.05	17.71	18.37
CFO/Avg Current Liab	- -	0.89	0.12	0.12	0.19	0.36	0.07	0.06	0.5	0.2	1.01
Common Equity/Total Assets	- -	-5.64	-5.92	-3.6	-2.42	-3.32	-1.76	-4.81	-5.01	-5.79	-6.77
Long-Term Debt/Equity (%)	- -	84.61	150.33	227.03	256	245.78	198.22	253.95	252.72	268.17	265.29
Long-Term Debt/Capital (%)	- -	100.7	106.34	103.05	80.15	96.05	40.48	90.6	96.12	96.32	97
Long-Term Debt/Total Assets (%)	- -	42.95	57.94	63.87	59.06	61.52	35.8	64.61	67.31	67.91	67.08
Total Debt/Equity (%)	- -	95.12	156.73	233.1	304.28	269.18	442.39	281.82	263.7	283.74	277.53
Total Debt/Capital (%)	- -	113.21	110.87	105.81	95.26	105.19	90.35	100.55	100.29	101.91	101.47
Total Debt/Total Assets (%)	- -	48.29	60.4	65.58	70.2	67.38	79.91	71.7	70.24	71.85	70.17
CFO/Total Liabilities	- -	5.7	0.86	0.38	1.67	4.82	1.89	3.3	4.52	1.28	6.45
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	810.94
Altman's Z-Score	- -	1.15	1.2	1.22	0.98	1.11	0.69	1.07	1.16	1.1	1.05

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	- -	- -	- -	- -	1,492.24	1,384.74	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	- -	0.24	0.26	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	39.61	11.39	15.54	12.09	8.75	6.3	10.57	19.71	38.86	25.1
Accounts Payable Turnover Days	- -	9.22	32.03	23.48	30.19	41.72	57.91	34.53	18.52	9.39	14.54
Cash Conversion Cycle	- -	-9.22	-32.03	-23.48	-29.95	-41.46	-57.91	-34.53	-18.52	-9.39	-14.54
Inventory to Cash Days	- -	- -	- -	- -	0.24	0.26	- -	- -	- -	- -	- -
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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Cash & Cash Equivalents	- -	118	84	191	87	82	155	179	338	184	167
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	209	- -	969	259	259	259	259
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	6	15	27	7	90
+ Total Debt	- -	603	957	1,709	2,485	2,149	7,571	4,448	4,183	4,313	4,250
Enterprise Value	- -	485	873	1,518	2,607	2,067	3,824	4,307	4,131	4,395	4,432
Total Capital	- -	532	863	1,615	2,609	2,043	8,379	4,424	4,170	4,232	4,189
Total Debt/Capital (%)	- -	113.21	110.87	105.81	95.26	105.19	90.35	100.55	100.29	101.91	101.47
Total Debt / EV	- -	1.24	1.1	1.13	0.95	1.04	1.98	1.03	1.01	0.98	0.96
EV/Sales	- -	6.1	9.75	9.97	13.14	11.22	17.25	11.73	7.25	8.01	8.85
EV/EBITDA	- -	13.62	23.95	32.39	45.33	33.66	31.03	40.46	25.32	37.75	46.84
EV/EBIT	- -	13.62	23.95	32.39	45.33	34.94	31.57	42.59	26.69	39.67	52.12
EV/Cash Flow to Firm	- -	13.84	104.48	213.83	57.47	17.92	26.1	28.24	20.93	76.79	15.18
EV/Free Cash Flow to Firm	- -	13.84	104.48	213.83	57.47	17.92	26.1	28.24	20.93	76.79	15.16
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Enterprise Value	- -	485	873	1,518	2,607	2,067	8,391	4,543	4,131	4,395	4,432
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Sales	59	79	90	152	198	184	222	367	570	549	501
TTM EBITDA	34	36	36	47	58	61	123	106	163	116	95
TTM Operating Income	34	36	36	47	58	59	121	101	155	111	85
TTM Cash Flow to Firm	25	35	8	7	45	115	146	153	197	57	292
TTM Free Cash Flow to Firm	25	35	8	7	45	115	146	153	197	57	292

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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	13.62	23.95	32.39	45.33	34.94	31.57	42.59	26.69	39.67	52.12
Enterprise Value	- -	485	873	1,518	2,607	2,067	3,824	4,307	4,131	4,395	4,432
Low Price	23.16	22.06	23.84	22.72	23.75	7.05	24.15	16.32	17.97	19.89	19.05
EV/Sales	- -	6.1	9.75	9.97	13.14	11.22	17.25	11.73	7.25	8.01	8.85
EV/EBITDA	- -	13.62	23.95	32.39	45.33	33.66	31.03	40.46	25.32	37.75	46.84
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Sales Average	- -	6.1	9.75	9.97	13.14	11.22	37.86	12.37	7.25	8.01	8.85
EV/Sales High	- -	6.1	9.75	9.97	13.14	11.22	37.86	12.37	7.25	8.01	8.85
EV/Sales Low	- -	6.1	9.75	9.97	13.14	11.22	37.86	12.37	7.25	8.01	8.85
EV/EBITDA Average	- -	13.62	23.95	32.39	45.33	33.66	68.09	42.67	25.32	37.75	46.84
EV/EBITDA High	- -	13.62	23.95	32.39	45.33	33.66	68.09	42.67	25.32	37.75	46.84
EV/EBITDA Low	- -	13.62	23.95	32.39	45.33	33.66	68.09	42.67	25.32	37.75	46.84
EV/EBIT Average	- -	13.62	23.95	32.39	45.33	34.94	69.28	44.92	26.69	39.67	52.12
EV/EBIT High	- -	13.62	23.95	32.39	45.33	34.94	69.28	44.92	26.69	39.67	52.12
EV/EBIT Low	- -	13.62	23.95	32.39	45.33	34.94	69.28	44.92	26.69	39.67	52.12
Last Price	23.75	24.04	25.35	23.94	25.25	24.59	25.32	17.84	20.64	20.29	21.33
High Price	25.19	25.85	25.7	25.85	26.2	25.72	25.78	25.24	21.58	23.65	22.18
Enterprise Value Average	- -	485	873	1,518	2,607	2,067	8,391	4,543	4,131	4,395	4,432
Enterprise Value High	- -	485	873	1,518	2,607	2,067	8,391	4,543	4,131	4,395	4,432
Enterprise Value Low	- -	485	873	1,518	2,607	2,067	8,391	4,543	4,131	4,395	4,432

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	- -	44	44	44	44	45	44	83	83	83	82
Diluted Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic Weighted Avg Shares	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Revenue per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS, GAAP	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted EPS from Cont Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow per Basic Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash & Equivalents per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Tangible Book Value per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Franklin BSP Realty Trust, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)