BRSP
BrightSpire Capital, Inc.
BRSP's fundamentals are mixed: its operating margin rose 6 points to 27%, while revenue grew only 2.5%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
BRSP Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
BRSP's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for real estate companies like BRSP.
BRSP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 5.3x | $3.12 | — |
| Cheap | 7.9x | $1.11 | -64% |
| Current | 22x | $3.12 | — |
| Fair | 32x | $4.43 | +42% |
| Expensive | 228x | $31.95 | +924% |
Historical ranges are pointers, not guarantees.
BRSP's PE is 22x, but its earnings don't support one, so it isn't a reliable read right now.
BRSP Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Low |
Analysts expect BRSP's revenue to grow, but its profitability to weaken. However, they disagree widely on these estimates.
BRSP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.59 | +318% |
| Q3 2026 | $0.14 | +$0.45 |
| Q2 2026 | -$0.23 | -$0.01 |
| Q1 2026 | -$0.27 | +$0.29 |
| Q4 2025 | -$0.26 | +$0.79 |
| Q3 2025 | -$0.31 | +$0.70 |
| Q2 2025 | -$0.22 | +$0.79 |
| Q1 2025 | -$0.56 | -$0.02 |
| Q4 2024 | -$1.05 | -$0.93 |
BRSP has returned to profit: it earned $0.14 per share over the past year, after losing money the year before.
BRSP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $87.4M | +4.1% |
| Q2 2026 | $83.5M | -2.8% |
| Q1 2026 | $85.1M | +9.8% |
| Q4 2025 | $83.2M | -0.4% |
| Q3 2025 | $83.9M | -4.8% |
| Q2 2025 | $85.9M | -6% |
| Q1 2025 | $77.6M | -19% |
| Q4 2024 | $83.5M | -19% |
BRSP's revenue fell from its 2019 peak and has held roughly level since: $87M last quarter, up 4.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 28% | -6.6 points |
| Q2 2026 | 18% | +32 points |
| Q1 2026 | 43% | -4 points |
| Q4 2025 | 18% | -1.3 points |
| Q3 2025 | 35% | -22 points |
| Q2 2025 | -13% | +20 points |
| Q1 2025 | 47% | +65 points |
| Q4 2024 | 19% | -6.8 points |
BRSP's operating margin was 28% last quarter, down 6.6 points from the same quarter a year ago.
BRSP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $14.7M | -46% |
| Q2 2026 | $28.9M | +150% |
| Q1 2026 | $9.3M | +16% |
| Q4 2025 | $8.1M | -66% |
| Q3 2025 | $27.4M | -3% |
| Q2 2025 | $11.6M | -50% |
| Q1 2025 | $8M | -64% |
| Q4 2024 | $23.9M | -32% |
BRSP's free cash flow was $61M over the past year, down 14% from the year before. Free cash flow isn't a meaningful measure for real estate companies like BRSP.
BRSP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3% | -3.8M shares |
| 1 year | -5.3% | -6.9M shares |
| 3 years | -5.5% | -7.1M shares |
| 5 years | -4.5% | -5.8M shares |
| Available history | -4.3% | -5.5M shares |
BRSP has 123M diluted shares, down 5.3% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $9.9M |
| Q4 2025 | $6M |
| Q3 2025 | $964,000 |
| Q4 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
BRSP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 21.3x | High |
| Q2 2026 | 20.9x | High |
| Q1 2026 | 24.0x | High |
| Q4 2025 | 22.8x | High |
| Q3 2025 | 18.7x | High |
| Q2 2025 | 15.7x | High |
| Q1 2025 | 18.9x | High |
| Q4 2024 | 36.7x | High |
BRSP's net debt is more than 20 years of its operating earnings (EBITDA), up from 19 years a year ago. Net leverage isn't a meaningful measure for real estate companies like BRSP.
BRSP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 12.2 | Oversold |
| Stochastic | 0.6 | Oversold |
BRSP's weekly RSI is 12 (oversold) and its Stochastic is 1 (oversold).
BRSP PE vs Real Estate Sector
| Metric | BRSP | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 24x | 6.8% below |
| PE % | 46 | 23 | 23 pts above |
BRSP is trading at 22x earnings, in line with the Real Estate sector's median of 24x, though its earnings don't support one.
BRSP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.62 | 14% below |
| 20 week MA | $4.43 | 30% below |
| 50 week MA | $5.23 | 40% below |
| 100 week MA | $5.34 | 42% below |
| 200 week MA | $5.87 | 47% below |
BRSP is in a downtrend: it's below all five of its weekly moving averages, and 47% below its 200-week average.
BRSP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $13.2 | $7.63 | -42% |
| 2021 | $7.63 | $9.75 | +28% |
| 2022 | $9.75 | $6.75 | -31% |
| 2023 | $6.75 | $7.44 | +10% |
| 2024 | $7.44 | $5.83 | -22% |
| 2025 | $5.83 | $5.85 | +0.3% |
| 2026 YTD | $5.85 | $3.12 | -47% |
BRSP has finished lower in three of the last six years. It's down 47% so far in 2026.