Brandywine Realty Trust

BDN

REIT - Office · Real Estate

Price

$3.03

+0.00 (+0.00%)

Market Cap

$523.4M

Exchange

New York Stock Exchange

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

Dividends

Good

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Winston Score History

The full picture

Brandywine Realty Trust is a real estate company that owns and rents out office buildings and mixed-use properties. Its customers are businesses that need office space, ranging from law firms and financial companies to life sciences tenants. The company focuses mainly on properties in Philadelphia, Austin, and a few other urban markets along the East Coast.

Brandywine makes money by collecting rent from tenants who sign long-term leases on its office and lab spaces. It operates as a Real Estate Investment Trust (REIT), meaning it must pay out most of its income as dividends to shareholders. With a market cap of around $0.5 billion, it is a relatively small player in the office REIT space, and its low ROIC of 1.9% reflects the pressure the entire office sector faces as remote and hybrid work reduces demand for traditional office space — a trend that remains the company's biggest ongoing risk.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.9% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+64.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

3.5%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$2.9B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Brandywine Realty Trust is growing revenue at 7% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.7% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 172.3M (2021) → 173.5M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

-14.8%

Thin — -14.8% gross margin

Profit after running costs

Operating Margin

15.0%

Healthy — 15.0% operating margin

Return on the money invested

ROCE

2.0%

Weak — 2.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+0.5%

Nearly flat sales (+0.5% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

10.4%

Modest free cash flow (10.4%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

3.79

Heavy debt load (3.79)

Covers its interest

Interest Cover

0.42x

Dangerous — barely covers interest (0.4x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

10.36%

Healthy income — 10.36% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

-46.7%

Dividend cut (-46.7% YoY) — warning sign

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