JBG SMITH Properties 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
Rental Revenue	416.8	456.95	483.16	491.74	499.59
Other Revenue	80.58	89.94	122.64	115.96	156.61
Total Revenue	497.38	546.89	605.8	607.7	656.19
Revenue Growth (YoY	-9.05%	-9.72%	-0.31%	-7.39%	12.67%
Property Expenses	251.17	273.48	290.67	306.7	328.62
Selling, General & Administrative	59.17	58.79	55.39	63.67	70.14
Depreciation & Amortization	190.06	208.18	210.2	213.77	236.3
Total Operating Expenses	500.4	540.45	556.25	584.14	635.07
Operating Income	-3.03	6.44	49.55	23.55	21.13
Interest Expense	-142.04	-134.07	-108.66	-75.93	-67.96
Interest & Investment Income	2.28	8.08	15.29	4.22	-
Other Non-Operating Income	-	-	-	-	5.24
EBT Excluding Unusual Items	-142.78	-119.55	-43.82	-48.16	-41.6
Gain (Loss) on Sale of Investments	-1.27	-3.18	-28.1	-4.9	-20.3
Gain (Loss) on Sale of Assets	46.63	-2.75	79.34	161.89	11.29
Asset Writedown	-65.85	-55.43	-90.23	-	-25.14
Other Unusual Items	-8.63	3.92	-9.19	-8.58	-10.43
Pretax Income	-171.89	-176.99	-92.01	100.25	-86.18
Income Tax Expense	-3.83	0.76	-0.3	1.26	3.54
Earnings From Continuing Operations	-168.06	-177.75	-91.71	98.99	-89.73
Minority Interest in Earnings	29	34.23	11.73	-13.62	10.47
Net Income	-139.06	-143.53	-79.98	85.37	-79.26
Preferred Dividends & Other Adjustments	1.79	2.46	2.05	1.86	2.85
Net Income to Common	-140.85	-145.99	-82.03	83.51	-82.11
Basic Shares Outstanding	67	88	105	119	131
Diluted Shares Outstanding	67	88	105	119	131
Shares Change (YoY)	-23.74%	-15.95%	-11.69%	-9.04%	-1.96%
EPS (Basic)	-2.09	-1.65	-0.78	0.70	-0.63
EPS (Diluted)	-2.09	-1.65	-0.78	0.70	-0.63
Dividend Per Share	0.700	0.700	0.850	0.900	0.900
Dividend Growth	-	-17.65%	-5.56%	-	-
Operating Margin	-0.61%	1.18%	8.18%	3.88%	3.22%
Profit Margin	-28.32%	-26.69%	-13.54%	13.74%	-12.51%
EBITDA	187.17	214.78	258.79	235.74	256.24
EBITDA Margin	37.63%	39.27%	42.72%	38.79%	39.05%
D&A For Ebitda	190.2	208.34	209.24	212.18	235.11
EBIT	-3.03	6.44	49.55	23.55	21.13
EBIT Margin	-0.61%	1.18%	8.18%	3.88%	3.22%
Funds From Operations (FFO)	6.58	55.63	140.39	156.05	159.35
Adjusted Funds From Operations (AFFO)	6.58	55.63	140.39	156.05	159.35
FFO Payout Ratio	736.64%	111.47%	66.96%	69.01%	74.12%
Effective Tax Rate	-	-	-	1.26%	-
Revenue as Reported	498.6	547.31	604.2	605.82	634.36

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

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