FBRT (Franklin BSP Realty Trust) Operating Income: $14.8 Mil (TTM As of Jun. 2026)

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FBRT Franklin BSP Realty Trust Inc FBRT
64 GF Score
Price $7.74
GF Value $9.78
Valuation Modestly Undervalued
! 9 Warning Signs
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What is Franklin BSP Realty Trust Operating Income?

Franklin BSP Realty Trust FBRT +1.98% 64 Operating Income is $14.8 Mil as of Jun. 2026. GuruFocus rates FBRT with a GF Score™ of 64/100 and a GF Value™ of $9.78 (Modestly Undervalued). The stock has 9 warning signs investors should review.

Franklin BSP Realty Trust's Operating Income for the three months ended in Jun. 2026 was $1.2 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was $14.8 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Franklin BSP Realty Trust's Operating Income for the three months ended in Jun. 2026 was $1.2 Mil. Franklin BSP Realty Trust's Revenue for the three months ended in Jun. 2026 was $116.3 Mil. Therefore, Franklin BSP Realty Trust's Operating Margin % for the quarter that ended in Jun. 2026 was 0.99%.

Warning Sign:

Franklin BSP Realty Trust Inc operating margin has been in a 5-year decline. The average rate of decline per year is -16.2%.

Franklin BSP Realty Trust's 5-Year average Growth Rate for Operating Margin % was -16.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Franklin BSP Realty Trust's annualized ROC % for the quarter that ended in Jun. 2026 was 0.08%. Franklin BSP Realty Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was %.


Franklin BSP Realty Trust  (NYSE:FBRT) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Franklin BSP Realty Trust's annualized ROC % for the quarter that ended in Jun. 2026 is calculated as:

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=4.628 * ( 1 - 0% )/( (6113.978 + 6181.803)/ 2 )
=4.628/6147.8905
=0.08 %

where

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=6301.001 - 71.423 - ( 115.6 - max(0, 283.591 - 5237.407+115.6))
=6113.978

Invested Capital(Q: Jun. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=6383.846 - 65.696 - ( 136.347 - max(0, 262.234 - 5344.875+136.347))
=6181.803

Note: The Operating Income data used here is four times the quarterly (Jun. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Franklin BSP Realty Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=4.628/( ( (0 + max(-50.578000000001, 0)) + (0 + max(-47.031999999999, 0)) )/ 2 )
=4.628/( ( 0 + 0 )/ 2 )
=4.628/0
= %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 20.844999999999) - (71.423 + 0 + 0)
=-50.578000000001

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 18.664000000001) - (65.696 + 0 + -5.6843418860808E-14)
=-47.031999999999

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Franklin BSP Realty Trust's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=1.157/116.3
=0.99 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Franklin BSP Realty Trust Operating Income Related Terms


Franklin BSP Realty Trust Operating Income Historical Data

* Premium members only.

The historical data trend for Franklin BSP Realty Trust's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Franklin BSP Realty Trust Operating Income Chart

Franklin BSP Realty Trust Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 121.12 101.14 154.77 110.78 85.02

Franklin BSP Realty Trust Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 32.97 1.84 18.31 -6.52 1.16
FBRT
64GF Score
Franklin BSP Realty Trust Inc FBRT
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Franklin BSP Realty Trust Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $14.8 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $14.8 Mil mean?
Franklin BSP Realty Trust (FBRT) has a Operating Income of $14.8 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Franklin BSP Realty Trust and its competitors.
Is Franklin BSP Realty Trust's Operating Income too high?
Franklin BSP Realty Trust's current Operating Income is $14.8 Mil. Overall, Franklin BSP Realty Trust has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Franklin BSP Realty Trust's Operating Income compare to RWT and TRTX?
Franklin BSP Realty Trust's Operating Income of $14.8 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a REITs company?
A good Operating Income depends on the REITs industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Franklin BSP Realty Trust and its competitors. Franklin BSP Realty Trust's current Operating Income is $14.8 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Franklin BSP Realty Trust stock overvalued right now?
Based on GuruFocus' analysis, Franklin BSP Realty Trust (FBRT) is currently considered Modestly Undervalued. The stock's GF Value™ is $9.78, compared to a current price of $7.74 — trading 20.9% below its estimated fair value. The current Operating Income is $14.8 Mil. Franklin BSP Realty Trust's overall GF Score™ is 64/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Franklin BSP Realty Trust (FBRT), the current Operating Income is $14.8 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Franklin BSP Realty Trust (FBRT) Overvalued in 2026?

Based on GuruFocus' analysis, Franklin BSP Realty Trust stock appears to be undervalued. The current stock price of $7.74 is trading 20.9% below its estimated GF Value™ of $9.78. GuruFocus considers Franklin BSP Realty Trust to be Modestly Undervalued.

Key valuation signals for FBRT:

  • Operating Income: $14.8 Mil
  • GF Value™: $9.78 vs. price of $7.74 (20.9% below fair value)
  • GF Score™: 64/100 with 9 warning signs

No single metric tells the full story. See the FBRT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Franklin BSP Realty Trust Business Description

Industry Real EstateREITs
Other Exchanges 6VH:Germany
Address 1 Madison Avenue, New York, NY, USA, 10010
Franklin BSP Realty Trust Inc is a private real estate investment trust that originates, acquires, and manages a diversified portfolio of commercial real estate debt, and first mortgage loans. secured by properties located in the United States. The Company's operations are organized into two business units: (i) Commercial Real Estate Financing, and (ii) Agency Business. Its four reporting segments are as follows: The real estate debt business, The Agency Business, The commercial real estate conduit business, and The real estate owned business.
64GF Score

Get the complete analysis for FBRT

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$7.74
Price
$9.78
GF Value