FSP (Franklin Street Properties) Scaled Net Operating Assets: 0.92 (As of Mar. 2026)


FSP Franklin Street Properties Corp FSP
44 GF Score
Price $0.54
GF Value $1.46
Valuation Possible Value Trap
! 4 Warning Signs
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What is Franklin Street Properties Scaled Net Operating Assets?

Franklin Street Properties FSP -1.11% 44 Scaled Net Operating Assets is 0.92 as of Mar. 2026. GuruFocus rates FSP with a GF Score™ of 44/100 and a GF Value™ of $1.46 (Possible Value Trap). The stock has 4 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Franklin Street Properties's operating assets for the quarter that ended in Mar. 2026 was $858.0 Mil. Franklin Street Properties's operating liabilities for the quarter that ended in Mar. 2026 was $32.8 Mil. Franklin Street Properties's Total Assets for the quarter that ended in Dec. 2025 was $892.9 Mil. Therefore, Franklin Street Properties's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.92.


Franklin Street Properties Scaled Net Operating Assets Historical Data

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The historical data trend for Franklin Street Properties's Scaled Net Operating Assets 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 Street Properties Scaled Net Operating Assets Chart

Franklin Street Properties Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.68 0.86 0.80 0.74 0.87

Franklin Street Properties Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets 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 0.90 0.92 0.92 0.92 0.92

FSP vs CMCT, ONL, NLOP: Scaled Net Operating Assets Comparison

For the REIT - Office subindustry, Franklin Street Properties's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Franklin Street Properties Scaled Net Operating Assets vs REITs Industry

For the REITs industry and Real Estate sector, Franklin Street Properties's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Franklin Street Properties's Scaled Net Operating Assets falls into.


FSP
44GF Score
Franklin Street Properties Corp FSP
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Franklin Street Properties Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Franklin Street Properties's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(862.313-37.35)/946.931
=0.87

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=892.884 - 30.571
=862.313

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=285.907 - 248.557 - 0
=37.35

Franklin Street Properties's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(858.033-32.844)/892.884
=0.92

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=881.786 - 23.753
=858.033

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=285.373 - 252.529 - 0
=32.844

* 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.

What does a Scaled Net Operating Assets of 0.92 mean?
Franklin Street Properties (FSP) has a Scaled Net Operating Assets of 0.92 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Franklin Street Properties and its competitors.
Is Franklin Street Properties' Scaled Net Operating Assets too high?
Franklin Street Properties' current Scaled Net Operating Assets is 0.92. Overall, Franklin Street Properties has a GF Score™ of 44/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Franklin Street Properties' Scaled Net Operating Assets compare to CMCT and ONL?
Franklin Street Properties' Scaled Net Operating Assets of 0.92 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 Scaled Net Operating Assets for a REITs company?
A good Scaled Net Operating Assets depends on the REITs industry context. However, Scaled Net Operating Assets 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 Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Franklin Street Properties and its competitors. Franklin Street Properties's current Scaled Net Operating Assets is 0.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Franklin Street Properties stock overvalued right now?
Based on GuruFocus' analysis, Franklin Street Properties (FSP) is currently considered Possible Value Trap. The stock's GF Value™ is $1.46, compared to a current price of $0.54 — trading 63.3% below its estimated fair value. The current Scaled Net Operating Assets is 0.92. Franklin Street Properties' overall GF Score™ is 44/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Franklin Street Properties (FSP), the current Scaled Net Operating Assets is 0.92 as of Mar. 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 Street Properties (FSP) Overvalued in 2026?

Based on GuruFocus' analysis, Franklin Street Properties stock appears to be undervalued. The current stock price of $0.54 is trading 63.3% below its estimated GF Value™ of $1.46. GuruFocus considers Franklin Street Properties to be Possible Value Trap.

Key valuation signals for FSP:

  • Scaled Net Operating Assets: 0.92
  • GF Value™: $1.46 vs. price of $0.54 (63.3% below fair value)
  • GF Score™: 44/100 with 4 warning signs

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


Franklin Street Properties Business Description

Industry Real EstateREITs
Other Exchanges WVH:Germany
Address 401 Edgewater Place, Suite 200, Wakefield, MA, USA, 01880
Franklin Street Properties Corp is a real estate investment trust. The company is focused on commercial real estate investments in office markets and currently operate in only one segment: real estate operations. The principal revenue sources for its real estate operations include rental income from real estate leasing, property dispositions and fee income from asset/property management and development. The company provides asset management, property management, property accounting, investor and/or development services to its portfolio and Sponsored REIT through the company's subsidiaries.
44GF Score

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

$0.54
Price
$1.46
GF Value