JBG SMITH Properties (JBGS) Income Statement
JBGS 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsJBGS revenue and net income
Where JBGS's revenue goes
2025Each bar shows an amount and its share of revenue. JBGS kept −27.9% of revenue as net income.
JBGS profit margins
JBGS growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −8.9% | −6.3% | −3.7% | +0.6% |
| Gross profit | −126.3% | — | — | — |
| Operating income | −202.8% | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
JBGS quarterly EPS vs estimates
JBG SMITH Properties beat the analyst EPS estimate in 3 of the last 6 quarters. Next report: October 27, 2026.
JBGS income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $498.6M | $547.3M | $604.2M | $605.8M | $634.4M | $602.7M | $646.4M | $644.2M | $543.0M | $478.5M |
| Cost of revenue | $570.7M | $273.5M | $290.7M | $306.7M | $328.6M | $331.4M | $321.6M | $309.0M | $229.4M | $173.6M |
| Gross profit | −$72.1M | $273.8M | $313.5M | $299.1M | $305.7M | $271.3M | $324.8M | $335.2M | $313.6M | $304.9M |
| Research & development | — | — | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales, general & admin | $59.2M | $58.8M | $55.4M | $63.7M | $70.1M | $78.3M | $89.0M | $69.8M | $76.4M | $52.3M |
| Total operating expenses | −$65.7M | $267.0M | $265.6M | $277.4M | $306.4M | $271.3M | $89.0M | $281.2M | $238.0M | $185.6M |
| Operating income | −$6.4M | $6.3M | $48.0M | $21.7M | −$705,000 | −$37.6M | $235.8M | $54.0M | −$52.2M | $112.8M |
| Interest income | $4.2M | $11.6M | $15.8M | $18.6M | $8.8M | $4.0M | $5.4M | $15.2M | $1.8M | $3.3M |
| Interest expense | $151.7M | $116.6M | $91.1M | $75.9M | $68.0M | $62.9M | $52.7M | $74.4M | $58.1M | $50.1M |
| Income before taxes | −$171.9M | −$177.0M | −$92.0M | $100.2M | −$86.2M | −$71.5M | $72.8M | $45.9M | −$89.0M | $63.1M |
| Income taxes | −$3.8M | $762,000 | −$296,000 | $1.3M | $3.5M | −$4.3M | −$1.3M | −$738,000 | −$9.9M | $1.1M |
| Net income | −$139.1M | −$143.5M | −$80.0M | $85.4M | −$79.3M | −$62.3M | $65.6M | $39.9M | −$71.8M | $62.0M |
| EBITDA | $177.2M | $221.3M | $214.7M | $396.5M | $218.3M | $213.5M | $240.0M | $332.4M | $132.0M | $248.4M |
| EPS (diluted) | −$2.11 | −$1.67 | −$0.64 | $0.68 | −$0.42 | −$0.42 | $0.18 | $0.42 | −$0.67 | $0.52 |
| Gross margin | −14.5% | 50.0% | 51.9% | 49.4% | 48.2% | 45.0% | 50.2% | 52.0% | 57.8% | 63.7% |
| Operating margin | −1.3% | 1.1% | 7.9% | 3.6% | −0.1% | −6.2% | 36.5% | 8.4% | −9.6% | 23.6% |
| Net margin | −27.9% | −26.2% | −13.2% | 14.1% | −12.5% | −10.3% | 10.1% | 6.2% | −13.2% | 13.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $129.4M | $127.6M | $127.6M | $123.9M | $126.5M | $120.7M | $130.8M | $136.0M | $135.3M | $145.2M | $147.6M | $149.3M |
| Cost of revenue | $137.9M | $138.9M | $65.5M | $62.9M | $61.1M | $61.7M | $65.6M | $67.2M | $69.3M | $71.4M | $70.2M | $73.4M |
| Gross profit | −$8.5M | −$11.3M | $62.1M | $61.0M | $65.4M | $59.0M | $65.2M | $68.9M | $66.0M | $73.8M | $77.4M | $75.9M |
| Sales, general & admin | $15.4M | $15.3M | $13.7M | $13.2M | $16.7M | $15.6M | $14.9M | $11.9M | $17.0M | $15.0M | $12.5M | $11.3M |
| Total operating expenses | −$16.6M | −$3.4M | $60.4M | $61.4M | $64.3M | $63.1M | $64.9M | $61.9M | $68.3M | $71.8M | $69.8M | $11.3M |
| Operating income | $8.1M | −$7.9M | $1.6M | −$414,000 | $1.1M | −$4.1M | $261,000 | $6.9M | −$2.3M | $2.0M | $7.6M | $64.6M |
| Interest income | $4.7M | $1.4M | $610,000 | $2.4M | $698,000 | $525,000 | $1.5M | $4.6M | $3.4M | $2.1M | $1.6M | $7.8M |
| Interest expense | $32.9M | $32.5M | $33.3M | $31.2M | $31.9M | $31.1M | $219.2M | $31.2M | $27.8M | $26.2M | $19.8M | $18.9M |
| Income before taxes | −$72.4M | −$23.0M | −$60.6M | −$34.1M | −$23.3M | −$53.9M | −$70.0M | −$30.5M | −$32.8M | −$43.7M | −$38.6M | −$66.0M |
| Income taxes | −$13.3M | $7,000 | −$4.5M | $926,000 | −$83,000 | −$200,000 | $802,000 | $831,000 | $597,000 | −$1.5M | −$968,000 | $77,000 |
| Net income | −$59.2M | −$18.7M | −$45.5M | −$28.6M | −$19.2M | −$45.7M | −$59.9M | −$27.0M | −$24.4M | −$32.3M | −$32.6M | −$58.0M |
| EBITDA | $10.2M | $57.5M | $21.2M | $47.2M | $58.0M | $26.6M | $13.0M | $52.5M | $48.0M | $41.1M | $44.8M | $65.8M |
| EPS (diluted) | $0.18 | −$0.32 | −$0.78 | −$0.48 | −$0.29 | −$0.56 | −$0.72 | −$0.32 | −$0.27 | −$0.36 | −$0.35 | −$0.58 |
| Gross margin | −6.6% | −8.8% | 48.7% | 49.2% | 51.7% | 48.9% | 49.8% | 50.6% | 48.8% | 50.8% | 52.5% | 50.8% |
| Operating margin | 6.3% | −6.2% | 1.3% | −0.3% | 0.9% | −3.4% | 0.2% | 5.1% | −1.7% | 1.3% | 5.2% | 43.3% |
| Net margin | −45.7% | −14.7% | −35.7% | −23.1% | −15.2% | −37.9% | −45.8% | −19.8% | −18.0% | −22.2% | −22.1% | −38.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in JBGS's financial statements (latest annual report filed February 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
JBGS financial results
In fiscal year 2025 (ended December 31, 2025), JBG SMITH Properties reported revenue of $498.6 million, down 8.9% from the year before. It had a net loss of $139.1 million, a net profit margin of −27.9%. Diluted earnings per share came to −$2.11. Over five years revenue grew at an average rate of −3.7% a year.
See the JBGS stock overview for the latest quote and news, or the JBGS chart for price history and technical indicators.
JBGS income statement FAQ
What is JBG SMITH Properties's annual revenue?
JBG SMITH Properties reported total revenue of $498.6 million for fiscal year 2025, which ended on December 31, 2025. That was down 8.9% from $547.3 million the previous year.
Is JBG SMITH Properties profitable?
No. JBG SMITH Properties reported a net loss of $139.1 million in fiscal 2025, a net profit margin of −27.9%; its operating margin was −1.3%.
What is JBG SMITH Properties's gross margin?
JBG SMITH Properties's gross margin was −14.5% in fiscal 2025: for every $100 of revenue, JBG SMITH Properties kept $-14 after the direct cost of its products and services.
How fast is JBG SMITH Properties growing?
Revenue grew −3.7% a year on average over the last five fiscal years, from $602.7 million to $498.6 million.
What are JBG SMITH Properties's earnings per share?
JBG SMITH Properties earned $-2.11 per diluted share in fiscal 2025, compared with $-1.67 a year earlier.
When will JBG SMITH Properties report its next earnings?
JBG SMITH Properties is expected to report results for the quarter ending September 30, 2026 on October 27, 2026.
When does JBG SMITH Properties's fiscal year end?
JBG SMITH Properties's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 17, 2026.