Saul Centers Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Property Revenue	284.37	261.18	249.06	240.84	234.52
Service and Other Revenue	5.48	7.67	8.15	5.02	4.71
Revenue	289.84	268.85	257.21	245.86	239.23
Revenue Growth (YoY)	7.81%	4.53%	4.61%	2.77%	6.22%
Property Expenses	52.03	41.72	37.49	35.93	32.88
Total Property Expenses	52.03	41.72	37.49	35.93	32.88
Property Taxes	32.45	30.34	29.65	28.59	28.75
Gross Profit	205.36	196.79	190.07	181.34	177.6
Selling, General & Admin	26.93	25.07	23.46	22.39	20.25
Depreciation & Amortization Expenses	58.78	50.5	48.43	48.97	50.27
Operating Income	119.65	121.22	118.18	109.98	107.07
Net Gains on Disposal of Properties	0.12	0.18	-	-	-
Interest Expense	-70.55	-53.7	-49.15	-43.94	-45.42
Other Non-Operating Income (Expense)	-	-	-	0.65	-
Total Non-Operating Income (Expense)	-70.43	-53.52	-49.15	-43.29	-45.42
Pretax Income	49.22	67.7	69.03	66.69	61.65
Net Income	26.32	39.46	41.5	39	37.2
Minority Interest in Earnings	11.71	17.05	16.34	15.2	13.26
Net Income Attributable to Preferred Dividends	11.19	11.19	11.19	11.19	11.19
Net Income to Common	26.32	39.46	41.5	39	37.2
Net Income Growth	-33.30%	-4.92%	6.40%	4.85%	27.43%
Shares Outstanding (Basic)	24	24	24	24	24
Shares Outstanding (Diluted)	24	24	24	24	24
Shares Change (YoY)	0.40%	0.37%	0.34%	1.31%	1.31%
EPS (Basic)	1.09	1.64	1.73	1.63	1.57
EPS (Diluted)	1.09	1.63	1.73	1.63	1.57
EPS Growth	-33.13%	-5.78%	6.13%	3.82%	25.60%
Free Cash Flow	3.89	-67.72	-85.95	4.26	62.51
Free Cash Flow Growth	-	-	-	-93.18%	186.23%
Free Cash Flow Per Share	0.16	-2.81	-3.57	0.18	2.64
Dividends Per Share	2.360	2.360	2.360	2.340	2.200
Dividend Growth	-	-	0.85%	6.36%	3.77%
Gross Margin	70.85%	73.20%	73.90%	73.76%	74.24%
Operating Margin	41.28%	45.09%	45.95%	44.73%	44.76%
Profit Margin	16.98%	25.18%	26.84%	26.60%	25.77%
FCF Margin	1.34%	-25.19%	-33.42%	1.73%	26.13%
EBITDA	178.43	171.72	166.61	158.95	157.35
EBITDA Margin	61.56%	63.87%	64.78%	64.65%	65.77%
EBIT	119.65	121.22	118.18	109.98	107.07
EBIT Margin	41.28%	45.09%	45.95%	44.73%	44.76%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.