JBG SMITH Properties JBGS

REIT - Specialty, Real Estate

$11.57

+1.58%

Market cap: $863.3M
PE: n/m; a loss over the last year
Forward PE: n/m; not a meaningful number
Price to FFO: 38.6×; its own FFO
Price to sales: 1.7×
EV/EBIT: n/m; a loss over the last year
Revenue, 12 months: $508.4M; −1% on a year ago
Net margin: −29.9%

JBG SMITH Properties trades at 38.6× its funds from operations, the earnings measure REITs are valued on. Revenue was $508.4M over the last twelve months, down 1% on a year earlier with a −30% net margin.

Charts

Financials

Income statement for JBGS, by quarter
Income statement	Q3 FY23	Q4 FY23	Q1 FY24	Q2 FY24	Q3 FY24	Q4 FY24	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
	$151.6M+3%	$147.6M−2%	$145.2M−5%	$135.3M−11%	$136M−10%	$130.8M−11%	$120.7M−17%	$126.5M−7%	$123.9M−9%	$127.6M−3%	$127.6M+6%	$129.4M+2%
SG&A	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
	−$43.6M	$13.5M+111%	−$16.6M	−$4M	$918K	−$36.9M	−$14M−16%	$8.3M	−$1M	−$20.5M−45%	$11.5M	−$40.5M
Interest expense	$27.9M+56%	$28.1M+9%	$30.2M+12%	$32M+24%	$35.3M+26%	$36.7M+31%	$35.2M+17%	$35.6M+11%	$34.8M−1%	$36.5M−1%	$35.5M+1%	$36M+1%
Pre-tax income	−$66M+208%	−$38.6M+74%	−$43.7M	−$32.8M+182%	−$30.5M−54%	−$70M+81%	−$53.9M+24%	−$23.3M−29%	−$34.1M+12%	−$60.6M−13%	−$23M−57%	−$72.4M+211%
	$77K−54%	−$968K−28%	−$1.5M+9075%	$597K−2%	$831K+979%	$802K	−$200K−86%	−$83K	$926K+11%	−$4.5M	$7K	$0
Net income	−$58M+201%	−$32.6M+76%	−$32.3M	−$24.4M+131%	−$27M−54%	−$59.9M+84%	−$45.7M+42%	−$19.2M−21%	−$28.6M+6%	−$45.5M−24%	−$18.7M−59%	−$59.2M+207%
	−$0.58+241%	−$0.35+106%	−$0.36	−$0.27+170%	−$0.32−45%	−$0.72+106%	−$0.56+56%	−$0.29+7%	−$0.48+50%	−$0.78+8%	−$0.32−43%	−$1.03+255%
	101.4M−11%	95.4M−16%	92.6M−19%	91M−17%	85.3M−16%	84.4M−12%	81.5M−12%	68.3M−25%	60.6M−29%	59.3M−30%	59.1M−28%	58.3M−15%

Revenue: Q1 FY16 and Q1 FY17: 6 months less the 3 months printed beside them.

SG&A: Q1 FY16 and Q1 FY17: 6 months less the 3 months printed beside them.

Operating income: Q1 FY16 and Q1 FY17: 6 months less the 3 months printed beside them. 34 periods, Q1 FY18 to Q2 FY26: not printed by the filing, worked out from its own lines.

Interest expense: Q1 FY16 and Q1 FY17: 6 months less the 3 months printed beside them.

Pre-tax income: Q1 FY16 and Q1 FY17: 6 months less the 3 months printed beside them.

Income tax: Q1 FY16 and Q1 FY17: 6 months less the 3 months printed beside them.

Net income: Q1 FY16 and Q1 FY17: 6 months less the 3 months printed beside them.

EPS, diluted: 11 periods, Q4 FY16 to Q4 FY25: quarter's net income to common over its shares, to the cent.

Diluted shares: Q4 FY16 and Q4 FY19: share-days: the 12-month average less the 9-month, weighted by days. 8 periods, Q4 FY17 to Q4 FY25: a loss quarter: its basic count, share-days: the 12-month average less the 9-month, weighted by days.

From each company's 10-Q and 10-K filings, the newest version of each figure. Quarters are as filed (a fourth quarter is the year less its first nine months), fiscal years as the 10-K prints them, restated where a later 10-K restated them, and balance sheet lines as of the period's end. A quarter whose 10-Q isn't filed yet is from the company's results release. Growth is on the same period a year earlier. A dash is a period with no figure for the line: the filing doesn't print it, or it hasn't been read yet.

Peers

Companies in REIT - Specialty nearest JBG SMITH Properties' size, closest first.

Company	Market cap	PE	Its 10y median PE	P/S	Revenue growth	Net margin
JBGSJBG SMITH Properties	$863.3M	n/m	74.0×	1.7×	−1%	−29.9%
ARIApollo Commercial Real Estate Finance	$823.1M	8.0×	11.9×	3.5×	−15%	55.5%
SAFESafehold	$795.3M	6.9×	14.7×	1.9×	+12%	27.7%
CSRCenterspace	$956.8M	45.6×	44.7×	3.6×	+1%	7.2%
CTOCTO Realty Growth	$741.5M	14.5×	14.0×	4.6×	+14%	32.6%
BFSSaul Centers	$725.4M	30.3×	29.7×	2.4×	+9%	11.5%
ADAMAdamas Trust	$702M	4.6×	9.7×	n/m	n/m	n/m
DEAEasterly Government Properties	$1.1B	113×	103×	3.0×	+13%	2.9%
MFAMFA Financial	$673.2M	6.5×	10.1×	n/m	n/m	n/m
PSTLPostal Realty Trust	$662.8M	40.6×	109×	6.3×	+22%	16.4%
CLDTChatham Lodging Trust	$653.3M	175×	32.8×	2.2×	−3%	4.0%
Peer median	$733.5M	22.4×	22.2×	3.2×	+10%	14.0%