Saul Centers Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	290.64	284.37	261.18	249.06	240.84	234.52
Service and Other Revenue	5.61	5.48	7.67	8.15	5.02	4.71
Revenue	296.25	289.84	268.85	257.21	245.86	239.23
Revenue Growth (YoY)	8.12%	7.81%	4.53%	4.61%	2.77%	6.22%
Property Expenses	54.03	52.03	41.72	37.49	35.93	32.88
Total Property Expenses	54.03	52.03	41.72	37.49	35.93	32.88
Property Taxes	32.93	32.45	30.34	29.65	28.59	28.75
Gross Profit	209.29	205.36	196.79	190.07	181.34	177.6
Selling, General & Admin	27.37	26.93	25.07	23.46	22.39	20.25
Depreciation & Amortization Expenses	60.18	58.78	50.5	48.43	48.97	50.27
Operating Income	121.75	119.65	121.22	118.18	109.98	107.07
Net Gains on Disposal of Properties	0.12	0.12	0.18	-	-	-
Interest Expense	-73.45	-70.55	-53.7	-49.15	-43.94	-45.42
Other Non-Operating Income (Expense)	-	-	-	-	0.65	-
Total Non-Operating Income (Expense)	-73.33	-70.43	-53.52	-49.15	-43.29	-45.42
Pretax Income	48.41	49.22	67.7	69.03	65.39	61.65
Net Income	25.64	26.32	39.46	41.5	39	37.2
Minority Interest in Earnings	11.58	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	11.19
Net Income to Common	25.64	26.32	39.46	41.5	39	37.2
Net Income Growth	-28.04%	-33.30%	-4.92%	6.40%	4.85%	27.43%
Shares Outstanding (Basic)	27	24	24	24	24	24
Shares Outstanding (Diluted)	27	24	24	24	24	24
Shares Change (YoY)	0.94%	0.40%	0.37%	0.34%	1.31%	1.31%
EPS (Basic)	1.06	1.09	1.64	1.73	1.63	1.57
EPS (Diluted)	1.06	1.09	1.63	1.73	1.63	1.57
EPS Growth	-27.89%	-33.13%	-5.78%	6.13%	3.82%	25.60%
Shares Outstanding	24.6	24.55	24.3	24.08	24.02	23.84
Free Cash Flow	20.3	3.89	-67.72	-85.95	4.26	62.51
Free Cash Flow Growth	421.33%	-	-	-	-93.18%	186.23%
Free Cash Flow Per Share	0.75	0.16	-2.81	-3.57	0.18	2.64
Dividends Per Share	2.360	2.360	2.360	2.360	2.340	2.200
Dividend Growth	-	-	-	0.85%	6.36%	3.77%
Gross Margin	70.65%	70.85%	73.20%	73.90%	73.76%	74.24%
Operating Margin	41.10%	41.28%	45.09%	45.95%	44.73%	44.76%
Profit Margin	16.34%	16.98%	25.18%	26.84%	26.60%	25.77%
FCF Margin	6.85%	1.34%	-25.19%	-33.42%	1.73%	26.13%
EBITDA	181.92	178.43	171.72	166.61	158.95	157.35
EBITDA Margin	61.41%	61.56%	63.87%	64.78%	64.65%	65.77%
EBIT	121.75	119.65	121.22	118.18	109.98	107.07
EBIT Margin	41.10%	41.28%	45.09%	45.95%	44.73%	44.76%

Updated May 7, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q