BFS Financials Saul Centers, Inc.

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 9, 2026, 10:18 UTC Overview →

Growth & profitability

Revenue has grown 5.2% per year over the past 5 years.
Net income has grown slower than revenue (-1.5% vs 5.2% per year).

Financial health

Total debt ($468M) exceeds cash ($9M); net debt is $460M.
Total debt has grown faster than revenue (11.8% vs 5.2% per year).
Operating income covered interest expense 2.8× in the latest year.
Total debt is 1.8× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 152.3% of earnings.
The dividend has grown 3.0% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$290M	$38M	0.0%	67.4%	12.2%	1.7%	—	$468M	$9M
2024	$269M	$51M	0.0%	75.8%	15.1%	2.4%	—	$456M	$10M
2023	$257M	$53M	73.9%	73.6%	15.1%	2.6%	—	$332M	$8M
2022	$246M	$50M	73.8%	73.4%	12.5%	2.7%	$4M	$321M	$13M
2021	$239M	$48M	74.2%	0.0%	11.9%	2.8%	$63M	$237M	$15M
2020	$225M	$40M	74.1%	0.0%	11.1%	2.5%	$22M	$268M	$27M
2019	$232M	$52M	75.0%	0.0%	13.8%	3.2%	-$20M	$272M	$14M
2018	$227M	$51M	75.5%	27.5%	14.2%	3.3%	-$18M	$251M	$15M
2017	$226M	$48M	75.8%	26.8%	14.4%	3.4%	-$17M	$285M	$11M
2016	$217M	$45M	75.3%	25.7%	14.2%	3.4%	-$2M	$232M	$8M
2015	$209M	$42M	75.5%	25.3%	14.0%	3.3%	$19M	$251M	$10M
2014	$207M	$47M	76.1%	25.1%	16.0%	3.7%	-$4M	$255M	$12M
2013	$198M	$31M	75.8%	17.8%	11.2%	2.6%	$47M	$273M	$17M
2012	$190M	$33M	75.1%	18.5%	12.5%	2.8%	$24M	$251M	$12M
2011	$174M	$27M	74.1%	18.1%	10.7%	2.2%	-$147M	—	$12M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$77M	$9M	0.0%	67.7%	3.0%	0.4%	—	$1.6B	$6M
Mar '26	$78M	$9M	0.0%	66.0%	3.0%	0.4%	—	$1.6B	$9M
Dec '25	$75M	$7M	0.0%	65.4%	2.1%	0.3%	—	$468M	$9M
Sep '25	$72M	$10M	0.0%	69.1%	3.3%	0.5%	—	$1.6B	$12M
Jun '25	$71M	$11M	0.0%	68.7%	3.3%	0.5%	—	$1.6B	$5M
Mar '25	$72M	$10M	0.0%	66.5%	3.0%	0.5%	—	$1.5B	$6M
Dec '24	$68M	$8M	0.0%	82.9%	2.4%	0.4%	—	$456M	$10M
Sep '24	$67M	$14M	73.6%	72.8%	4.2%	0.7%	-$28M	$1.5B	$7M
Jun '24	$67M	$14M	74.2%	75.0%	4.2%	0.7%	-$12M	$1.4B	$7M
Mar '24	$67M	$14M	72.8%	72.4%	3.9%	0.7%	-$12M	$1.4B	$7M
Dec '23	$67M	$13M	74.4%	0.0%	3.8%	0.7%	—	$332M	$8M
Sep '23	$64M	$13M	72.8%	0.0%	3.3%	0.7%	-$32M	$1.3B	$7M
Jun '23	$64M	$13M	74.2%	0.0%	3.3%	0.7%	-$24M	$1.3B	$11M
Mar '23	$63M	$14M	74.2%	0.0%	3.4%	0.7%	-$7M	$1.3B	$12M
Dec '22	$62M	$12M	73.2%	0.0%	3.0%	0.6%	—	$321M	$13M
Sep '22	$61M	$12M	73.7%	0.0%	3.0%	0.7%	-$7M	$1.2B	$10M
Jun '22	$60M	$13M	75.5%	0.0%	3.2%	0.7%	-$9M	$1.2B	$11M
Mar '22	$62M	$13M	72.7%	0.0%	3.3%	0.8%	$23M	$1.1B	$12M
Dec '21	$60M	$12M	75.0%	0.0%	3.0%	0.7%	—	$237M	$15M
Sep '21	$60M	$13M	74.5%	0.0%	3.0%	0.8%	$11M	$1.1B	$12M

Valuation over time

How the market has priced BFS against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 19.2× (Mar '23) to 18.9× (Nov '26).
The price-to-sales ratio has fallen from 3.9× (Mar '23) to 2.4× (Nov '26).
The dividend yield has risen from 5.8% (Mar '23) to 8.1% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is BFS growing its revenue and profit?

Over the past 5 years, Saul Centers, Inc.'s revenue has grown 5.2% per year, and net income declined 1.5% per year. These are computed facts, not advice.

How much debt does BFS have?

As of FY2025, Saul Centers, Inc. reported $468M of total debt against $9M of cash; operating income covered interest expense 2.8×.

What is BFS's profit margin?

In FY2025, gross margin was —, operating margin 67.4%, and net margin 12.9%.

What is BFS's P/E ratio?

Saul Centers, Inc.'s P/E (TTM) is 20.34 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the BFS stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 18.9× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.