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Saul Centers, Inc. is a self-managed, self-administered equity REIT headquartered in Bethesda, Maryland, which currently operates and manages a real estate portfolio of 62 properties which includes (a) 59 community and neighborhood shopping centers and mixed-use properties with approximately 10.5 million square feet of leasable area and (b) three land and development properties. Over 85% of the Saul Centers' property operating income is generated by properties in the metropolitan Washington, DC/Baltimore area. Saul Centers, Inc. was established on June 10, 1993 and incorporated in Maryland, USA.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $290M | $176M | $38M | $100M | 30.5% | 7.8% | -25.9% |
| 2024 | $269M | $170M | $51M | $121M | 33.6% | 4.5% | -3.9% |
| 2023 | $257M | $165M | $53M | $118M | 32.2% | 4.6% | 5.0% |
| 2022 | $246M | $156M | $50M | $121M | 23.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 289.84 |
| Operating Revenue | 284.36 |
| Cost Of Revenue | 84.48 |
| Gross Profit | 205.36 |
| Operating Expense | 85.72 |
| Selling General And Administration | 26.93 |
| Total Expenses | 170.20 |
| Operating Income | 119.65 |
| Total Operating Income As Reported | - |
| EBITDA | 175.75 |
| Normalized EBITDA | 175.63 |
| EBIT | 116.96 |
| Interest Income | 0.16 |
| Interest Expense | 67.75 |
| Net Interest Income | -70.55 |
| Other Income Expense | 0.12 |
| Interest Income Non Operating | 0.16 |
| Interest Expense Non Operating | 67.75 |
| Net Non Operating Interest Income Expense | -70.55 |
| Pretax Income | 49.22 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | 0.03 |
| Net Income Continuous Operations | 49.22 |
| Net Income From Continuing And Discontinued Operation | 37.51 |
| Net Income From Continuing Operation Net Minority Interest | 37.51 |
| Net Income | 37.51 |
| Net Income Common Stockholders | 26.32 |
| Net Income Including Noncontrolling Interests | 49.22 |
| Normalized Income | 37.42 |
| Diluted NI Availto Com Stockholders | 26.32 |
| Basic Average Shares | 24.14 |
| Diluted Average Shares | 24.14 |
| Reconciled Depreciation | 58.78 |
| Reconciled Cost Of Revenue | 84.48 |
| Total Unusual Items | 0.12 |
| Total Unusual Items Excluding Goodwill | 0.12 |
| Preferred Stock Dividends | 11.19 |
| Minority Interests | -11.71 |
| Special Income Charges | - |
| Other Special Charges | - |
| Gain On Sale Of Security | 0.12 |
| Depreciation Amortization Depletion Income Statement | 58.78 |
| Depreciation And Amortization In Income Statement | 58.78 |
| General And Administrative Expense | 26.93 |
| Other Gand A | 26.93 |
| Total Other Finance Cost | 2.96 |
| Other Operating Expenses | - |
| Otherunder Preferred Stock Dividend | - |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Saul Centers, Inc.this co. | BFS | $1.3B | 33.61↑ premium | 10.26 | 30.5% | 16.24 |
| Orchid Island Capital, Inc. | ORC | $1.3B | 8.43 | 0.98 | 11.6% | - |
| Alexander's, Inc. | ALX | $1.3B | 46.31 | 11.98 | 25.9% | 17.98 |
| Ladder Capital Corp | LADR | $1.3B | 20.23 | 0.87 | 4.3% | - |
| Two Harbors Investment Corp. | TWO | $1.3B |
| - |
| - |
| - |
| - |
| - |
| -2.86 |
| 1.09 |
| -38.3% |
| - |
| UMH Properties, Inc. | UMH | $1.3B | 48.43 | 2.20 | 4.5% | 16.10 |
| Arbor Realty Trust, Inc. | ABR | $1.2B | 7.79 | 0.50 | 6.4% | - |
| Easterly Government Properties, Inc. | DEA | $1.1B | 87.80 | 0.86 | 1.0% | 13.79 |
| Marcus & Millichap, Inc. | MMI | $1.1B | - | 1.88 | -0.3% | 59.90 |
| Peer Median | - | 20.23 | 1.04 | 4.4% | 17.04 | |