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 29 h ago 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

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	FCF	Total debt	Cash
2025	$290M	$38M	0.0%	67.4%	—	$468M	$9M
2024	$269M	$51M	0.0%	75.8%	—	$456M	$10M
2023	$257M	$53M	73.9%	73.6%	—	$332M	$8M
2022	$246M	$50M	73.8%	73.4%	$4M	$321M	$13M
2021	$239M	$48M	74.2%	0.0%	$63M	$237M	$15M
2020	$225M	$40M	74.1%	0.0%	$22M	$268M	$27M
2019	$232M	$52M	75.0%	0.0%	-$20M	$272M	$14M
2018	$227M	$51M	75.5%	27.5%	-$18M	$251M	$15M
2017	$226M	$48M	75.8%	26.8%	-$17M	$285M	$11M
2016	$217M	$45M	75.3%	25.7%	-$2M	$232M	$8M
2015	$209M	$42M	75.5%	25.3%	$19M	$251M	$10M
2014	$207M	$47M	76.1%	25.1%	-$4M	$255M	$12M
2013	$198M	$31M	75.8%	17.8%	$47M	$273M	$17M
2012	$190M	$33M	75.1%	18.5%	$24M	$251M	$12M
2011	$174M	$27M	74.1%	18.1%	-$147M	—	$12M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

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	FCF	Total debt	Cash
Mar '26	$78M	$9M	0.0%	66.0%	—	$1.6B	$9M
Dec '25	$75M	$7M	0.0%	65.4%	—	$468M	$9M
Sep '25	$72M	$10M	0.0%	69.1%	—	$1.6B	$12M
Jun '25	$71M	$11M	0.0%	68.7%	—	$1.6B	$5M
Mar '25	$72M	$10M	0.0%	66.5%	—	$1.5B	$6M
Dec '24	$68M	$8M	0.0%	82.9%	—	$456M	$10M
Sep '24	$67M	$14M	73.6%	72.8%	-$28M	$1.5B	$7M
Jun '24	$67M	$14M	74.2%	75.0%	-$12M	$1.4B	$7M
Mar '24	$67M	$14M	72.8%	72.4%	-$12M	$1.4B	$7M
Dec '23	$67M	$13M	74.4%	0.0%	—	$332M	$8M
Sep '23	$64M	$13M	72.8%	0.0%	-$32M	$1.3B	$7M
Jun '23	$64M	$13M	74.2%	0.0%	-$24M	$1.3B	$11M
Mar '23	$63M	$14M	74.2%	0.0%	-$7M	$1.3B	$12M
Dec '22	$62M	$12M	73.2%	0.0%	—	$321M	$13M
Sep '22	$61M	$12M	73.7%	0.0%	-$7M	$1.2B	$10M
Jun '22	$60M	$13M	75.5%	0.0%	-$9M	$1.2B	$11M
Mar '22	$62M	$13M	72.7%	0.0%	$23M	$1.1B	$12M
Dec '21	$60M	$12M	75.0%	0.0%	—	$237M	$15M
Sep '21	$60M	$13M	74.5%	0.0%	$11M	$1.1B	$12M
Jun '21	$60M	$13M	75.6%	0.0%	$23M	$1.1B	$15M

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 risen from 19.0× (Mar '23) to 24.2× (Jun '26).
The price-to-sales ratio has fallen from 3.9× (Mar '23) to 3.1× (Jun '26).
The dividend yield has risen from 5.8% (Mar '23) to 6.3% (Jun '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?

As of Jun '26, Saul Centers, Inc. traded at a price-to-earnings ratio of about 24.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.