Franklin BSP Realty Trust, Inc. logo FBRT - Franklin BSP Realty Trust, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
1
BUY 3
HOLD 0
SELL 0
STRONG
SELL
0
| PRICE TARGET: $15.33 DETAILS
HIGH: $16.00
LOW: $15.00
MEDIAN: $15.00
CONSENSUS: $15.33
UPSIDE: 80.99%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Revenue
Revenue 0 145.0 136.6 119.5 0 135.4 139.6 132.8 141.2 136.0 140.4 159.3 133.8 120.8 96.4 72.5 77.6 80.2 48.8 49.7 43.0 45.2 45.4 44.1 49.5 52.2 51.5 48.2 46.5 45.8 42.9 34.1 29.4 27.6 22.2 20.8 18.9 29.6 20.2 14.2 15.4 16.7 12.7 9.9 7.5 6.3 3.7 1.9 0.9 0.5 0.2 0.1 0
Cost of Revenue 0 14.1 76.5 70.2 0 226.7 89.9 7.7 9.3 81.2 4.1 75.3 71.1 64.3 46.2 32.8 22.5 24.8 12.0 12.6 11.4 12.2 15.6 16.2 26.1 24.8 22.2 25.9 20.4 19.8 17.1 14.4 18.7 10.4 8.8 7.7 5.4 15.5 7.3 0.2 0.2 2.0 1.8 3.1 1.0 1.5 1.8 0.9 0.3 0 0 0 0
Gross Profit 0 130.9 60.1 49.3 0 (91.3) 49.7 125.1 131.9 54.8 136.2 84.0 62.8 56.6 50.3 39.7 55.1 55.4 36.8 37.1 31.6 33.0 29.8 27.8 23.3 27.4 29.3 22.4 26.1 26.0 25.8 19.7 10.7 17.3 13.3 13.1 13.5 14.2 12.9 13.9 15.2 14.7 10.9 6.7 6.5 4.8 1.9 1.0 0.6 0.5 0.2 0.1 0
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 42.9 38.4 55.5 16.4 18.7 14.4 14.4 12.9 16.6 (4.0) 4.2 16.3 17.9 14.9 14.2 18.4 16.8 10.9 13.7 11.9 10.9 9.2 9.3 9.9 10.8 12.1 12.5 9.9 9.7 8.2 8.8 7.4 7.7 7.9 5.1 4.5 3.9 4.2 5.7 4.4 5.1 5.8 3.1 2.0 1.7 0.7 0.8 0.1 0.1 0.1 0.1 0.2 0.0
Other Expenses (56.1) (7.4) 2.9 (0.1) (43.1) 166.3 1.1 (3.2) (11.0) 1.9 0 (5.2) 6.2 42.1 0.7 33.8 0.3 (1.0) (1.6) (1.1) (1.9) 18.7 (3.1) 4.6 15.2 7.7 (2.5) (0.8) (0.9) (1.0) (0.8) (1.8) (1.3) (1.1) (1.4) (0.8) (0.6) 0 (0.7) 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses (13.2) 31.0 58.4 16.3 (24.4) (86.4) 15.5 40.2 11.0 19.4 4.2 40.1 24.1 21.5 14.9 52.2 17.1 12.5 12.1 10.8 9.0 8.0 6.2 14.5 26.0 12.8 12.2 10.5 12.2 8.1 9.8 9.8 7.7 7.4 4.5 4.3 4.5 4.2 5.6 5.1 5.8 6.2 3.5 2.4 1.9 1.0 0.9 0.4 0.4 0.3 0.1 0.2 0.0
Operating Income
Operating Income 13.2 99.9 1.7 33.0 24.4 136.2 34.1 115.0 120.9 132.4 (8.3) (4.5) 38.7 29.1 35.4 (12.5) 38.0 91.4 24.7 26.3 22.6 28.1 23.6 13.3 (2.6) (20.1) 17.1 11.9 13.9 17.9 16.0 10.0 3.0 9.8 8.9 8.8 8.9 10.0 7.3 8.9 9.4 8.6 7.4 4.3 4.6 3.7 1.0 0.6 0.2 0.2 0.0 (0.1) (0.0)
Interest Expense 0 71.0 76.5 0 0 80.5 89.9 86.7 81.3 152.3 78.0 75.3 0 55.9 46.2 32.8 30.9 24.8 12.0 12.6 11.4 11.8 15.1 15.1 24.5 22.0 22.2 25.9 20.4 19.8 17.1 14.4 18.7 10.4 8.8 7.7 5.4 5.7 7.3 5.4 4.8 4.3 3.5 2.5 1.9 0 0.7 70.7 21.0 15.4 8.2 8.8 0
Interest Income 0 99.0 106.2 0 0 127.8 134.1 133.6 130.6 262.6 137.0 152.9 0 118.1 94.1 70.2 75.3 77.9 47.7 49.0 42.2 44.4 44.4 43.2 47.9 50.1 50.4 48.2 46.5 45.8 42.9 34.1 29.4 27.6 22.2 20.8 18.9 18.6 20.2 20.2 20.3 21.1 16.3 12.5 9.6 0 4.6 1,978.8 976.8 533.6 175.4 66.1 0
Profitability
EBITDA (1.2) 99.1 5.2 34.3 33.2 (31.3) 35.5 (10.1) 122.3 32.1 44.5 46.1 40.5 76.7 36.7 (11.2) 39.3 92.7 24.7 26.7 23.0 28.6 24.2 13.9 (2.1) 16.4 15.8 11.9 13.9 18.6 16.0 9.3 3.0 9.8 8.9 8.8 8.9 10.0 7.3 8.9 9.4 (16.4) 7.4 4.3 4.6 0.1 1.0 598.3 225.8 112.8 27.3 (140.1) (0.0)
EBIT (4.7) 95.7 1.7 33.0 31.8 360.4 34.1 4.4 33.0 (39.5) 111.7 43.9 38.7 40.2 35.4 (12.5) 38.0 47.5 24.7 26.3 22.6 24.9 23.6 13.3 (2.6) 15.9 15.8 11.9 13.9 18.6 16.0 9.3 3.0 9.8 8.9 8.8 8.9 28.2 7.3 0 0 37.8 0 0 0 (86.5) 0 0 0 0 0 0 0
Income Before Tax 13.2 24.6 14.7 24.2 24.4 30.4 30.4 (3.9) 36.7 29.7 29.2 39.7 43.2 26.5 35.7 (25.8) (22.5) (72.8) 39.6 30.3 32.1 33.2 21.7 7.1 (9.3) 24.4 28.0 14.9 21.1 15.4 19.3 12.6 5.6 15.0 6.7 6.3 6.0 6.3 5.4 8.9 9.4 8.6 7.4 4.3 4.6 3.8 1.0 0.6 0.2 0.2 0.0 (0.1) (0.0)
Income Tax Expense 0.9 6.3 (2.9) (0.1) 0.7 0.2 0.2 (0.1) 0.8 (3.9) (1.8) 0.1 (0.7) (0.7) 0.4 (0.1) (0.0) 0.2 1.1 0.3 2.0 0.4 0.2 (0.7) (1.9) 0.8 2.1 0.4 1.2 (1.0) 0.3 0.5 0.3 0.5 (0.3) 0 0 0 0 0 0 0 0 0 0 0.1 0.0 0.0 0 0 0 0 0
Net Income 12.0 19.3 17.3 23.2 24.1 4.0 31.6 (2.6) 35.9 37.0 24.7 39.6 43.8 41.2 35.3 (25.7) (22.5) (50.2) 38.5 30.0 30.1 37.6 21.5 7.8 (7.4) 36.3 20.5 11.0 16.1 18.1 17.3 12.1 5.3 14.5 7.0 6.3 6.0 6.3 5.4 8.9 9.4 8.6 7.4 4.3 4.6 3.7 1.0 0.6 0.2 0.2 0.0 (0.1) (0.0)
Per Share Data
EPS (Basic) 0.07 0.14 0.12 0.19 0.20 0.28 0.30 -0.11 0.35 0.29 0.30 0.39 0.44 0.70 0.34 -0.43 -0.99 -1.90 0.67 0.52 0.53 0.69 0.38 0.10 -0.27 0.43 0.46 0.25 0.36 0.33 0.39 0.27 0.12 0.32 0.16 0.14 0.14 -0.03 0.12 0.28 0.30 0.28 0.28 0.20 0.27 0.27 0.11 0.14 0.11 0.16 0.09 -1.37
EPS (Diluted) 0.07 0.13 0.12 0.19 0.20 0.28 0.30 -0.11 0.35 0.29 0.30 0.39 0.44 0.70 0.34 -0.43 -0.99 -1.90 0.67 0.52 0.53 0.69 0.38 0.10 -0.27 0.43 0.46 0.25 0.36 0.33 0.39 0.27 0.12 0.32 0.16 0.14 0.14 -0.03 0.12 0.28 0.30 0.28 0.28 0.20 0.27 0.27 0.11 0.14 0.11 0.16 0.09 -1.37
Shares Outstanding 79.9 136.5 82.2 82.2 82.1 81.8 81.8 81.8 82.0 82.3 82.2 82.3 82.8 71.6 83.7 75.8 87.9 86.8 88.4 88.5 88.6 88.8 89.0 89.0 89.0 89.0 89.0 89.0 89.0 89.0 89.0 89.0 89.0 89.0 89.0 89.0 89.0 89.0 89.0 63.6 63.1 61.8 53.4 44.1 34.6 27.5 17.6 8.5 4.1 2.8 0.6 0.2 0
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 115.6 167.3 116.7 414.1 215.4 184.4 346.2 94.8 240.0 337.6 411.4 224.7 230.4 179.3 217.0 445.8 117.1 154.9 91.4 63.3 99.1 82.1 96.1 111.6 89.0 87.2 34.1 164.5 79.7 191.4 55.5 39.2 57.7 83.7 72.3 133.3 148.4 118.0 60.9 63.7 49.2
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 125.2 133.7 235.7 252.5 270.4 1,949.3 4,566.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Receivables 5,101.0 4,853.9 5,108.8 4,707.0 4,836.0 5,195.7 5,311.3 5,503.9 5,281.0 5,087.4 4,913.6 5,163.0 5,093.2 5,321.1 5,436.4 5,379.4 4,868.0 4,528.2 3,247.6 3,109.1 3,335.7 2,875.3 2,598.9 2,468.7 2,797.6 2,980.5 2,882.7 2,739.9 2,470.8 2,370.2 2,288.8 2,068.3 1,754.7 1,487.8 1,436.9 1,248.3 1,008.9 1,074.1 1,119.3 1,127.0 1,126.3
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.7) (0.3) (0.5) (0.8) (2.0) (0.7) (0.8) (0.1) (1.0) 0 0 0 0 0 0
Other Current Assets 20.8 17.9 27.2 8.7 8.7 12.4 7.7 11.0 8.1 6.1 209.0 7.4 6.9 11.2 30.6 (1.7) 3.1 56.4 154.1 241.5 6.1 1.5 166.1 279.0 79.4 16.6 0 0 0 8.8 0 0 5.8 4.0 4.5 24.9 72.3 3.1 11.6 14.5 12.3
Total Current Assets 5,237.4 5,039.0 5,252.6 5,129.7 5,060.1 5,392.6 5,665.2 5,609.6 5,529.1 5,431.1 5,534.2 5,520.4 5,464.2 5,747.3 5,965.3 6,108.7 6,956.0 9,320.1 3,493.1 3,413.9 3,446.6 2,967.5 2,861.1 2,859.4 2,976.8 3,089.6 2,941.4 2,922.6 2,573.1 2,578.8 2,358.4 2,120.2 1,826.9 1,583.5 1,520.1 1,406.5 1,229.5 1,199.1 1,191.8 1,205.1 1,187.9
Non-Current Assets
Property, Plant & Equipment 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5.8 5.8 5.9 6.0 6.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Goodwill 92.0 92.0 90.8 38.4 39.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 324.9 327.8 326.5 0 0 39.8 0 0 0 0 43.6 0 59.0 0 46.3 0 0 0 49.2 13.1 0 0 13.8 14.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 299.3 243.8 170.7 106.7 180.6 216.4 210.7 215.3 217.9 242.6 193.1 191.8 112.3 221.0 74.6 0 0 0 2.5 2.5 18.9 171.1 172.3 411.1 441.2 386.3 232.2 133.8 66.7 26.4 27.0 26.8 0 0 0 15.3 25.7 49.0 57.6 126.0 124.9
Other Non-Current Assets 347.3 354.6 377.8 355.4 374.2 353.6 418.6 403.1 238.7 238.7 104.6 207.1 203.5 180.5 91.9 106.2 108.4 106.2 90.6 26.1 73.9 37.6 58.1 49.8 63.8 44.3 11.4 2.8 0.5 0.8 2.0 0.7 0.8 0.1 1.0 0 0 0 0 0 0
Total Non-Current Assets 1,063.6 1,018.2 965.9 500.5 593.9 609.8 669.8 659.7 498.6 524.1 341.3 465.0 374.8 456.3 212.8 153.2 156.1 154.6 142.4 41.8 106.1 222.3 249.9 480.7 525.0 451.0 249.7 136.5 67.2 27.3 29.0 27.5 0.8 0.1 1.0 15.3 25.7 49.0 57.6 126.0 124.9
Total Assets 6,301.0 6,057.2 6,218.5 5,630.2 5,654.1 6,002.4 6,335.0 6,269.3 6,027.7 5,955.2 5,875.5 5,985.3 5,839.0 6,203.6 6,178.1 6,261.9 7,112.2 9,474.7 3,635.5 3,455.7 3,552.7 3,189.8 3,111.0 3,340.1 3,501.9 3,540.6 3,191.0 3,059.1 2,640.2 2,606.1 2,387.4 2,147.7 1,827.7 1,583.7 1,521.1 1,421.8 1,255.3 1,248.1 1,249.4 1,331.1 1,312.7
Current Liabilities
Account Payables 20.3 18.9 20.8 14.3 17.6 14.4 14.0 13.0 11.2 13.3 16.9 12.5 15.5 17.7 52.7 13.6 12.9 12.7 9.3 7.7 6.4 5.1 8.2 19.6 10.0 10.9 9.0 7.0 5.3 4.5 6.7 4.9 5.3 4.5 3.1 0 0 1.2 0 14.5 1.3
Short-Term Debt 212.2 187.4 131.7 128.9 206.2 236.6 307.8 267.6 194.8 174.1 3,808.9 543.7 388.5 440.0 801.6 293.3 1,714.5 4,178.8 2,314.0 2,296.3 88.3 186.8 2,019.3 2,252.5 496.9 394.4 244.3 85.0 22.1 44.5 22.3 10.6 0 39.0 39.0 757.4 622.2 66.6 472.1 528.6 529.7
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (785.6) 0 0 0 0 0 0 0 0
Other Current Liabilities 0 0 0 0.9 0.9 1.3 1.8 10.9 12.3 12.3 48.5 0 0 0 0 0 0 0 20.4 16.1 0 0 15.6 15.6 0 0 0 0 0 0 0 0 0 0 0 10.3 10.3 0 9.8 10.2 10.9
Total Current Liabilities 283.6 273.4 224.7 206.0 284.6 315.5 387.9 357.9 290.6 270.5 3,902.7 621.0 466.9 522.1 915.8 368.3 1,789.3 4,242.1 2,361.9 2,333.9 121.1 219.3 2,054.5 2,301.0 530.8 421.9 267.7 104.7 40.3 61.1 39.9 40.1 14.4 55.4 51.8 769.8 634.0 78.4 484.1 553.4 541.9
Non-Current Liabilities
Long-Term Debt 4,368.1 4,062.9 4,225.7 3,838.5 3,774.3 4,076.3 4,333.1 4,276.8 4,061.5 4,008.7 287.1 3,660.9 3,682.0 4,001.8 3,577.7 4,205.4 3,569.6 3,392.3 196.4 66.3 2,391.7 1,962.4 63.6 70.2 2,028.9 2,084.9 1,812.4 1,885.0 1,516.0 1,515.2 1,548.9 1,477.9 1,118.3 851.8 545.5 35.6 0 278.4 130.0 140.2 121.7
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 169.3 189.5 202.0 90.1 89.8 90.5 89.7 90.8 89.7 89.7 0.0 90.0 90.0 94.8 104.7 97.2 100.4 128.9 0 0 225.4 209.7 0.1 0 214.7 210.7 306.2 297.9 332.9 296.5 96.3 11.5 (690.8) (784.1) (515.3) 0 0 (278.4) 0.0 0 0
Total Non-Current Liabilities 4,537.4 4,252.4 4,427.7 3,928.6 3,864.1 4,166.8 4,422.9 4,367.5 4,151.8 4,098.4 287.1 3,764.6 3,781.2 4,103.1 3,682.5 4,302.7 3,670.0 3,521.2 196.4 66.3 2,617.1 2,172.0 69.8 76.3 2,249.9 2,301.9 2,124.8 2,183.0 1,848.9 1,811.7 1,645.2 1,489.5 1,213.2 917.9 865.8 35.6 0 536.1 130.0 140.2 121.7
Total Liabilities 4,821.0 4,525.8 4,652.5 4,134.6 4,148.7 4,482.3 4,810.7 4,725.5 4,442.3 4,369.0 4,189.7 4,385.6 4,248.1 4,625.2 4,598.3 4,670.9 5,459.4 7,763.3 2,558.3 2,400.2 2,738.2 2,391.3 2,124.3 2,377.3 2,780.6 2,723.8 2,392.5 2,287.7 1,889.2 1,872.8 1,685.0 1,529.5 1,227.5 973.3 917.6 805.4 634.0 614.5 614.1 693.5 663.5
Stockholders' Equity
Common Stock 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3
Retained Earnings (420.7) (411.1) (392.8) (373.7) (360.5) (348.1) (342.4) (337.7) (299.3) (298.9) (292.8) (288.4) (291.8) (299.2) (290.3) (289.0) (226.4) (167.2) (59.8) (77.9) (92.0) (106.5) (123.5) (129.3) (121.5) (86.0) (89.4) (95.6) (91.8) (94.3) (94.5) (99.4) (100.0) (94.1) (97.2) (90.8) (80.7) (70.7) (60.5) (49.5) (42.1)
Accumulated Other Comprehensive Income (1.1) (0.3) 0.1 (0.3) (0.3) 0.1 0.4 0.6 0.5 (0.7) (1.1) (1.3) (1.9) 0.4 (0.4) 0 0 (0.1) 0 0 (0.2) (8.3) (9.6) (28.3) (68.6) (1.0) (0.8) (0.4) (0.3) (0.5) 0.2 (0.0) 0 0 0 0.4 0.9 (0.5) (2.2) (4.8) (7.2)
Total Stockholders' Equity 1,391.5 1,441.5 1,472.2 1,488.7 1,499.6 1,512.6 1,516.4 1,519.1 1,558.4 1,559.1 1,656.7 1,569.9 1,569.7 1,563.0 1,574.0 1,585.2 1,647.0 1,705.6 1,071.4 1,055.5 814.5 798.4 986.7 962.8 721.3 816.8 798.5 771.4 751.1 733.2 702.3 618.1 600.2 610.3 603.5 616.4 621.3 633.6 635.3 637.6 649.2
Total Liabilities & Equity 6,301.0 6,057.2 6,218.5 5,630.2 5,654.1 6,002.4 6,335.0 6,269.3 6,027.7 5,955.2 5,875.5 5,985.3 5,839.0 6,203.6 6,178.1 6,261.9 7,112.2 9,474.7 3,635.5 3,455.7 3,552.7 3,189.8 3,111.0 3,340.1 3,501.9 3,540.6 3,191.0 3,059.1 2,640.2 2,606.1 2,387.4 2,147.7 1,827.7 1,583.7 1,521.1 1,421.8 1,255.3 1,248.1 1,249.4 1,331.1 1,312.7
Debt Metrics
Total Debt 4,580.3 4,250.3 4,357.4 3,967.4 3,980.5 4,312.9 4,640.9 4,544.4 4,256.8 4,182.8 4,096.0 4,218.3 4,079.6 4,448.3 4,387.4 4,498.7 5,284.1 7,571.1 2,510.5 2,362.6 2,480.0 2,149.2 2,089.2 2,329.0 2,531.9 2,485.4 2,174.8 2,102.9 1,708.0 1,709.2 1,571.1 1,488.5 1,212.6 956.6 903.9 793.0 622.2 602.8 602.1 668.7 651.4
Net Debt 4,464.7 4,083.0 4,240.7 3,553.3 3,765.1 4,128.5 4,294.8 4,449.6 4,016.7 3,845.2 3,684.6 3,993.6 3,849.2 4,269.0 4,170.4 4,052.9 5,167.1 7,416.1 2,419.1 2,299.3 2,380.9 2,067.1 1,993.2 2,217.3 2,443.0 2,398.1 2,140.7 1,938.4 1,628.3 1,517.8 1,515.7 1,449.3 1,155.0 872.9 831.6 659.7 473.8 484.7 541.2 605.1 602.1
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income 12.0 17.7 17.6 24.4 23.7 30.2 30.2 (2.6) 35.5 30.2 31.0 39.6 43.8 27.2 35.3 (25.7) (22.5) (72.9) 38.5 30.0 30.1 32.8 21.5 7.8 (7.4) 23.6 25.9 14.5 19.9 16.4 19 12.1 5.3 14.5 7.0 6.3 6.0 6.3 5.4 8.9 9.4
Depreciation & Amortization 0.8 0 3.4 (0.0) 1.4 1.4 1.4 1.4 1.4 1.6 2.9 1.9 1.6 1.4 1.3 1.3 1.3 1.3 0.0 0.4 0.4 0.5 0.6 0.6 0.6 0.3 0 0 (0.4) 8.1 0 0 7.0 2.1 0 0 0.1 1.5 0 0 (0.0)
Stock-Based Compensation 2.4 2.3 2.2 2.3 2.2 2.2 2.1 2.1 1.8 1.3 1.3 1.2 1.0 0.7 0.6 0.7 0.5 0.1 0.1 0.1 0.1 0.1 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 0.0 0.0 0.0 0.0 0.0
Change in Working Capital (5.7) (16.6) 18.5 2.4 6.6 0.6 0.7 (2.5) 3.9 2.2 1.6 (0.7) (5.1) (42.6) 34.9 6.3 7.0 85.4 8.1 5.1 4.0 (2.4) (14.3) 13.3 0.5 1.6 3.2 1.3 (1.0) (4.3) (1.7) 1.1 (4.0) (1.8) (2.9) 2.8 0.7 (1.0) (0.8) (0.0) 0.6
Other Non-Cash Items (63.5) 308.6 (189.9) (17.2) 82.3 (89.4) 63.0 12.7 (30.7) 30.3 29.4 (18.5) (8.2) 35.2 82.6 (16.7) (76.6) (30.3) 62.2 14.2 (30.2) (111.0) 112.4 16.0 43.7 55.9 (81.4) 4.3 (22.7) 32.1 (4.7) (30.1) (34.2) (24.7) 0.2 (13.3) 13.6 2.1 3.8 0.3 0.0
Operating Cash Flow (54.0) 312.0 (148.1) 11.8 116.2 (55.1) 97.4 1.9 13.0 55.9 63.1 45.1 33.3 21.9 154.7 8.3 (32.3) (16.5) 108.8 49.8 4.4 (80.1) 120.2 37.8 37.4 81.2 (52.2) 20.1 (3.8) 44.2 12.6 (16.8) (32.9) (12.0) 4.3 (4.3) 20.3 7.5 8.3 9.1 10.1
Investing Activities
Capital Expenditure 0 (0.2) 0 0 0 0 0 0 0 0 0 0 0 (0.7) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Acquisitions 0 0 (297.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 174.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments (552.0) 0 (4.8) (122.3) (1.7) 0 0 (12.6) (15.7) (63.7) (60.3) (80.6) 0 (220.5) 0.1 0 11,302.9 0.0 (0.0) (1.0) 1.0 0.0 (13.9) (0.0) (135.5) (158.6) (101.6) (67.6) (40.7) (0.3) (26.2) (13.3) (0.5) (0.2) (0.4) 0 196.5 897.3 0 0 319.0
Sales/Maturities of Investments 6.5 0 0 145.8 0 64.9 94.3 22.1 84.0 14.2 307.1 0.5 225.1 3,731.7 (0.0) 1,541.4 2,190.3 1,882.6 (0.8) 178.9 159.3 0.0 266.8 78.8 0.6 8.8 0.3 0.2 0.1 (310.5) 12.5 160.8 149.7 (15) 15 10.2 24.7 79.1 0 0 0
Other Investing Activities 299.4 (92.9) 250.0 215.3 288.6 200.1 14.5 0.3 0.4 (124.5) 27.5 (62.2) 197.7 (3,615.4) (194.3) (406.6) 72.6 (309.0) (245.2) (128.9) (308.8) 2.8 (143.9) 46.6 138.5 (197.5) (69.7) (267.5) (75.3) (107.7) (215.1) (441.7) (374.0) (20.5) (171.0) (176.8) (13.8) (18.5) 79.4 (1.1) 0.5
Investing Cash Flow (246.1) (92.9) (52.1) 238.9 286.9 265.0 108.8 (389.9) (139.3) (174.0) 274.3 (142.3) 422.8 (104.8) (194.2) 1,133.4 2,262.9 1,573.6 (246.1) 49.0 (307.8) 2.8 109.0 125.3 3.6 (347.3) (171.0) (335.0) (115.9) (107.9) (228.8) (294.2) (224.8) (20.7) (156.4) (166.6) 10.9 60.6 79.4 (1.1) 0.5
Financing Activities
Net Debt Issuance 332.4 (122.4) (39.7) 65.3 (334.9) (330.5) 101.6 262.2 70.3 87.7 (115.5) 136.9 (369.9) 54.1 (111.9) (790.9) (2,287.4) (1,463.7) 178.8 (120.2) 330.4 78.3 (235.5) (208.1) 41.7 310.2 65.4 390.0 (1.4) 136.9 82.3 275.2 249.4 57.3 114.5 167.0 19.0 (1.4) (68.8) 0 0
Stock Repurchased (39.8) (14.4) 0 0 0 0 0 (3.0) (1.9) (3.3) 5 (5.5) (3.7) (5.5) (11.0) 0 0 11.4 (2.2) (0.1) (9.1) 0 (3.4) (0.2) (6.7) 0.0 (6.6) 0 (7.2) (0.0) (7.2) 0 (7.8) 0 (11.1) 0.0 (9.5) 0.1 (13.0) (0.0) (6.0)
Dividends Paid 0 (36.4) (36.5) (36.4) (36.2) (36.2) (36.2) (36.3) (36.1) (36.2) (36.2) (35.6) (36.3) (36.5) (35.9) (36.8) (30.3) (25.9) (16.1) (11.8) (14.1) (13.1) (12.9) (7.0) (16.8) (16.2) (15.8) (14.8) (13.8) (11.8) (9.4) (8.0) (7.7) (7.5) (10.1) (10.8) (10.4) (10.3) (10.2) (10.1) (9.6)
Other Financing Activities (41.2) (4.6) (2.6) (80.8) (4.8) (5.1) (23.5) 22.8 (1.5) (4.5) 0.3 (3.7) 5.6 (0.7) 3.2 13.6 48.4 14.8 0 0 0 0 0 0 0 0 0 0 0 (0.7) (0.2) 7.7 (7.7) (5.6) 0 0 0 0.8 1.5 16.5 33.4
Financing Cash Flow 251.4 (177.8) (78.7) (52.0) (375.9) (366.9) 41.9 245.6 30.8 43.7 (151.4) 92.0 (409.3) 11.4 (155.6) (814.0) (2,269.2) (1,489.8) 160.5 (132.1) 322.1 64.9 (251.8) (215.1) 29.0 322.5 97.7 396.4 12.0 202.1 233.3 292.2 233.8 44.2 90.5 156.1 (0.8) (11.2) (90.6) 6.4 23.8
Cash Position
Net Change in Cash (48.7) 41.3 (278.9) 198.7 27.2 (157.0) 248.1 (142.4) (95.6) (74.4) 186.0 (5.1) 46.8 (71.5) (195.2) 327.6 (38.7) 67.3 23.3 (33.3) 18.8 (12.4) (22.6) (52.1) 70.1 56.4 (125.5) 81.5 (107.7) 138.4 17.0 (18.8) (23.9) 11.4 (66.5) (14.7) 30.4 62.2 (2.8) 14.4 34.4
Cash at Beginning 185.2 143.9 422.8 224.1 196.9 353.9 105.7 248.1 343.7 418.1 232.1 237.3 190.5 262.0 457.2 129.5 168.2 100.9 77.6 110.9 92.1 104.5 127.1 179.2 109.1 52.7 178.2 96.7 204.4 66.0 49.0 67.8 91.7 72.3 138.8 153.5 123.1 60.9 63.7 49.2 14.8
Cash at End 136.4 185.2 143.9 422.8 224.1 196.9 353.9 105.7 248.1 343.7 418.1 232.1 237.3 190.5 262.0 457.2 129.5 168.2 100.9 77.6 110.9 92.1 104.5 127.1 179.2 109.1 52.7 178.2 96.7 204.4 66.0 49.0 67.8 83.7 72.3 138.8 153.5 123.1 60.9 63.7 49.2
Free Cash Flow (54.0) 311.8 (148.3) 11.8 116.2 (55.1) 97.4 1.9 13.0 55.9 63.1 45.1 33.3 21.2 154.7 8.3 (32.3) (16.5) 108.8 49.8 4.4 (80.1) 120.2 37.8 37.4 81.2 (52.2) 20.1 (3.8) 44.2 12.6 (16.8) (32.9) (12.0) 4.3 (4.3) 20.3 7.5 8.3 9.1 10.1
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Income Statement
Revenue 0 145.0 136.6 119.5 0 135.4 139.6 132.8 141.2 136.0 140.4 159.3 133.8 120.8 96.4 72.5 77.6 80.2 48.8 49.7 43.0 45.2 45.4 44.1 49.5 52.2 51.5 48.2 46.5 45.8 42.9 34.1 29.4 27.6 22.2 20.8 18.9 29.6 20.2 14.2 15.4 16.7 12.7 9.9 7.5 6.3 3.7 1.9 0.9 0.5 0.2 0.1 0
Gross Profit 0 130.9 60.1 49.3 0 (91.3) 49.7 125.1 131.9 54.8 136.2 84.0 62.8 56.6 50.3 39.7 55.1 55.4 36.8 37.1 31.6 33.0 29.8 27.8 23.3 27.4 29.3 22.4 26.1 26.0 25.8 19.7 10.7 17.3 13.3 13.1 13.5 14.2 12.9 13.9 15.2 14.7 10.9 6.7 6.5 4.8 1.9 1.0 0.6 0.5 0.2 0.1 0
Operating Income 13.2 99.9 1.7 33.0 24.4 136.2 34.1 115.0 120.9 132.4 (8.3) (4.5) 38.7 29.1 35.4 (12.5) 38.0 91.4 24.7 26.3 22.6 28.1 23.6 13.3 (2.6) (20.1) 17.1 11.9 13.9 17.9 16.0 10.0 3.0 9.8 8.9 8.8 8.9 10.0 7.3 8.9 9.4 8.6 7.4 4.3 4.6 3.7 1.0 0.6 0.2 0.2 0.0 (0.1) (0.0)
Net Income 12.0 19.3 17.3 23.2 24.1 4.0 31.6 (2.6) 35.9 37.0 24.7 39.6 43.8 41.2 35.3 (25.7) (22.5) (50.2) 38.5 30.0 30.1 37.6 21.5 7.8 (7.4) 36.3 20.5 11.0 16.1 18.1 17.3 12.1 5.3 14.5 7.0 6.3 6.0 6.3 5.4 8.9 9.4 8.6 7.4 4.3 4.6 3.7 1.0 0.6 0.2 0.2 0.0 (0.1) (0.0)
EPS (Diluted) 0.07 0.13 0.12 0.19 0.20 0.28 0.30 -0.11 0.35 0.29 0.30 0.39 0.44 0.70 0.34 -0.43 -0.99 -1.90 0.67 0.52 0.53 0.69 0.38 0.10 -0.27 0.43 0.46 0.25 0.36 0.33 0.39 0.27 0.12 0.32 0.16 0.14 0.14 -0.03 0.12 0.28 0.30 0.28 0.28 0.20 0.27 0.27 0.11 0.14 0.11 0.16 0.09 -1.37
Balance Sheet
Cash & Equivalents 115.6 167.3 116.7 414.1 215.4 184.4 346.2 94.8 240.0 337.6 411.4 224.7 230.4 179.3 217.0 445.8 117.1 154.9 91.4 63.3 99.1 82.1 96.1 111.6 89.0 87.2 34.1 164.5 79.7 191.4 55.5 39.2 57.7 83.7 72.3 133.3 148.4 118.0 60.9 63.7 49.2
Total Assets 6,301.0 6,057.2 6,218.5 5,630.2 5,654.1 6,002.4 6,335.0 6,269.3 6,027.7 5,955.2 5,875.5 5,985.3 5,839.0 6,203.6 6,178.1 6,261.9 7,112.2 9,474.7 3,635.5 3,455.7 3,552.7 3,189.8 3,111.0 3,340.1 3,501.9 3,540.6 3,191.0 3,059.1 2,640.2 2,606.1 2,387.4 2,147.7 1,827.7 1,583.7 1,521.1 1,421.8 1,255.3 1,248.1 1,249.4 1,331.1 1,312.7
Total Debt 4,580.3 4,250.3 4,357.4 3,967.4 3,980.5 4,312.9 4,640.9 4,544.4 4,256.8 4,182.8 4,096.0 4,218.3 4,079.6 4,448.3 4,387.4 4,498.7 5,284.1 7,571.1 2,510.5 2,362.6 2,480.0 2,149.2 2,089.2 2,329.0 2,531.9 2,485.4 2,174.8 2,102.9 1,708.0 1,709.2 1,571.1 1,488.5 1,212.6 956.6 903.9 793.0 622.2 602.8 602.1 668.7 651.4
Stockholders' Equity 1,391.5 1,441.5 1,472.2 1,488.7 1,499.6 1,512.6 1,516.4 1,519.1 1,558.4 1,559.1 1,656.7 1,569.9 1,569.7 1,563.0 1,574.0 1,585.2 1,647.0 1,705.6 1,071.4 1,055.5 814.5 798.4 986.7 962.8 721.3 816.8 798.5 771.4 751.1 733.2 702.3 618.1 600.2 610.3 603.5 616.4 621.3 633.6 635.3 637.6 649.2
Cash Flow
Operating Cash Flow (54.0) 312.0 (148.1) 11.8 116.2 (55.1) 97.4 1.9 13.0 55.9 63.1 45.1 33.3 21.9 154.7 8.3 (32.3) (16.5) 108.8 49.8 4.4 (80.1) 120.2 37.8 37.4 81.2 (52.2) 20.1 (3.8) 44.2 12.6 (16.8) (32.9) (12.0) 4.3 (4.3) 20.3 7.5 8.3 9.1 10.1
Capital Expenditure 0 (0.2) 0 0 0 0 0 0 0 0 0 0 0 (0.7) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Free Cash Flow (54.0) 311.8 (148.3) 11.8 116.2 (55.1) 97.4 1.9 13.0 55.9 63.1 45.1 33.3 21.2 154.7 8.3 (32.3) (16.5) 108.8 49.8 4.4 (80.1) 120.2 37.8 37.4 81.2 (52.2) 20.1 (3.8) 44.2 12.6 (16.8) (32.9) (12.0) 4.3 (4.3) 20.3 7.5 8.3 9.1 10.1