Saul Centers, Inc. (BFS) Key Metrics
BFS valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.02B
- Enterprise value
- $2.53B
- P/E (TTM)
- 30.1 10-yr median 20.7
- Forward P/E
- 178.6
- PEG ratio
- 44.97
- Price / sales
- 3.4 10-yr median 4.3
- Price / book
- 6.7 10-yr median 2.9
- EV / EBITDA
- 14.0 10-yr median 14.3
- Dividend yield
- 5.70% $2.36 a year
- Beta
- 0.89
BFS key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBFS valuation Price multiples at each fiscal year-end price.
BFS returns How much profit the business earns on the capital it uses.
BFS per-share figures Results divided by the shares outstanding at year-end.
BFS financial health Debt, liquidity and how easily interest is covered.
BFS efficiency & capital use Working capital cycle and where the cash goes.
BFS valuation history
BFS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BFS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BFS cash returned to shareholders
BFS price vs earnings per share
BFS key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $763.6M | $936.7M | $944.6M | $975.2M | $1.25B | $739.9M | $1.22B | $1.06B | $1.36B | $1.44B |
| Enterprise value | $2.36B | $2.46B | $2.32B | $2.25B | $2.38B | $1.86B | $2.29B | $2.07B | $2.31B | $2.33B |
| P/E ratio | 20.4 | 18.5 | 17.9 | 19.4 | 423.1 | 18.3 | 23.5 | 20.9 | 28.2 | 31.8 |
| Price / sales | 2.6 | 3.5 | 3.7 | 4.0 | 5.2 | 3.3 | 5.3 | 4.6 | 6.0 | 6.6 |
| Price / book | 2.5 | 2.8 | 2.7 | 1.9 | 3.1 | 2.0 | 3.2 | 3.0 | 4.1 | 4.5 |
| Price / free cash flow | 7.7 | 7.7 | 8.0 | 7.0 | 10.6 | 9.4 | 10.5 | 9.6 | 13.1 | 16.2 |
| Price / operating cash flow | 7.7 | 7.7 | 8.0 | 8.0 | 10.6 | 9.4 | 10.5 | 9.6 | 13.1 | 16.2 |
| EV / sales | 8.1 | 9.1 | 9.0 | 9.1 | 10.0 | 8.3 | 9.9 | 9.1 | 10.1 | 10.7 |
| EV / EBITDA | 13.2 | 14.3 | 13.9 | 14.4 | 15.2 | 12.7 | 15.0 | 13.6 | 15.2 | 16.0 |
| EV / free cash flow | 23.6 | 20.3 | 19.7 | 16.0 | 20.1 | 23.8 | 19.9 | 18.7 | 22.3 | 26.2 |
| Earnings yield | 4.9% | 5.4% | 5.6% | 5.1% | 0.2% | 5.5% | 4.3% | 4.8% | 3.6% | 3.1% |
| Free cash flow yield | 13.1% | 12.9% | 12.5% | 14.4% | 9.4% | 10.6% | 9.5% | 10.4% | 7.6% | 6.2% |
| Dividend yield | 8.9% | 7.3% | 7.2% | 6.8% | 5.0% | 8.2% | 5.0% | 5.5% | 4.2% | 3.6% |
| Shareholder yield (dividends + buybacks) | 8.9% | 7.3% | 7.2% | 6.8% | 5.0% | 8.2% | 13.6% | 12.6% | 4.2% | 3.6% |
| Share price at fiscal year-end | $31.53 | $38.80 | $39.27 | $40.68 | $53.02 | $31.68 | $52.78 | $47.22 | $61.75 | $66.61 |
| Per share | ||||||||||
| Revenue per share | $12.04 | $11.14 | $10.69 | $10.26 | $10.11 | $9.64 | $10.04 | $10.16 | $10.33 | $10.04 |
| Earnings per share | $1.55 | $2.10 | $2.19 | $2.09 | $0.13 | $1.73 | $2.24 | $2.25 | $2.19 | $2.09 |
| Operating cash flow per share | $4.12 | $5.02 | $4.89 | $5.05 | $5.00 | $3.36 | $5.01 | $4.92 | $4.70 | $4.12 |
| Free cash flow per share | $4.12 | $5.02 | $4.89 | $5.85 | $5.00 | $3.36 | $5.01 | $4.92 | $4.70 | $4.12 |
| Cash per share | $0.36 | $0.43 | $0.35 | $0.55 | $0.62 | $1.15 | $0.60 | $0.65 | $0.50 | $0.39 |
| Book value per share | $12.71 | $13.91 | $14.48 | $21.77 | $17.12 | $15.60 | $16.27 | $15.87 | $15.19 | $14.74 |
| Tangible book value per share | $12.34 | $13.89 | $14.47 | $21.75 | $17.10 | $15.58 | $16.24 | $15.84 | $14.95 | $14.62 |
| Dividends per share | $2.82 | $2.82 | $2.82 | $2.78 | $2.63 | $2.59 | $2.64 | $2.62 | $2.59 | $2.40 |
| Capex per share | $3.96 | $7.83 | $8.47 | $0.79 | $2.36 | $2.42 | $0.95 | $2.34 | $4.11 | $2.73 |
| Debt per share | $66.14 | $63.48 | $57.66 | $53.62 | $48.34 | $49.27 | $47.33 | $45.57 | $43.56 | $41.65 |
| Shares outstanding | 24.2M | 24.1M | 24.1M | 24.0M | 23.7M | 23.4M | 23.1M | 22.4M | 22.0M | 21.6M |
| Change in shares outstanding | +0.3% | +0.4% | +0.3% | +1.3% | +1.3% | +1.3% | +2.8% | +1.9% | +1.8% | +2.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 11.7% | 14.8% | 12.1% | 10.8% | 0.8% | 10.9% | 14.2% | 14.6% | 14.8% | 14.6% |
| Return on invested capital (ROIC) | 5.0% | 5.3% | 7.2% | 3.9% | 3.5% | 1.7% | 9.5% | 4.7% | 4.9% | 4.7% |
| Return on assets (ROA) | 1.7% | 2.5% | 2.8% | 2.8% | 0.2% | 2.5% | 3.3% | 3.4% | 3.5% | 3.4% |
| Return on tangible assets | 1.7% | 2.4% | 2.6% | 2.7% | 0.2% | 2.5% | 3.2% | 3.3% | 3.4% | 3.4% |
| Free cash flow margin | 34.2% | 45.1% | 45.8% | 57.0% | 49.5% | 34.8% | 49.8% | 48.4% | 45.5% | 41.0% |
| Income quality (OCF / net income) | 2.66 | 2.39 | 2.23 | 2.41 | 39.93 | 1.94 | 2.23 | 2.18 | 2.14 | 1.97 |
| Financial health | ||||||||||
| Total debt | $1.60B | $1.53B | $1.39B | $1.29B | $1.14B | $1.15B | $1.09B | $1.02B | $958.6M | $900.3M |
| Cash & short-term investments | $8.7M | $10.3M | $8.4M | $13.3M | $14.6M | $26.9M | $13.9M | $14.6M | $10.9M | $8.3M |
| Net debt | $1.59B | $1.52B | $1.38B | $1.27B | $1.13B | $1.12B | $1.08B | $1.01B | $947.7M | $892.0M |
| Debt / equity | 5.20 | 4.56 | 3.98 | 2.46 | 2.82 | 3.16 | 2.91 | 2.87 | 2.87 | 2.83 |
| Debt / assets | 0.74 | 0.72 | 0.70 | 0.70 | 0.65 | 0.70 | 0.67 | 0.67 | 0.67 | 0.67 |
| Net debt / EBITDA | 8.92 | 8.86 | 8.27 | 8.13 | 7.18 | 7.67 | 7.05 | 6.61 | 6.23 | 6.13 |
| Current ratio | 0.34 | 0.24 | 0.18 | 0.31 | 0.49 | 0.62 | 0.51 | 0.76 | 0.69 | 0.76 |
| Quick ratio | 0.34 | 0.24 | 0.19 | 0.32 | 0.49 | 0.62 | −0.00 | 0.76 | 0.69 | 0.76 |
| Interest coverage | 1.7 | 2.3 | 3.5 | 1.5 | 2.4 | 1.1 | 3.7 | 1.4 | 1.3 | 1.2 |
| Working capital | −$135.9M | −$194.9M | −$290.2M | −$157.8M | −$77.1M | −$56.0M | −$69.3M | −$23.3M | −$32.2M | −$20.6M |
| Invested capital | $1.90B | $1.86B | $1.73B | $1.79B | $1.53B | $1.49B | $1.45B | $1.36B | $1.28B | $1.21B |
| Tangible asset value | $468.3M | $500.8M | $504.1M | $521.4M | $530.0M | $427.1M | $442.9M | $424.6M | $387.7M | $370.8M |
| Net current asset value | −$1.62B | −$1.56B | −$1.43B | −$1.24B | −$1.14B | −$1.13B | −$1.10B | −$1.03B | −$959.1M | −$903.4M |
| Graham number | $21.05 | $25.62 | $26.72 | $32.02 | $6.95 | $24.63 | $28.66 | $28.37 | $27.38 | $26.35 |
| Graham net-net per share | −$67.35 | −$65.31 | −$59.89 | −$52.48 | −$48.93 | −$48.91 | −$47.10 | −$46.70 | −$44.43 | −$42.64 |
| Capital allocation | ||||||||||
| Dividends paid | $68.3M | $68.1M | $67.9M | $66.7M | $62.2M | $60.6M | $61.0M | $58.7M | $57.0M | $51.8M |
| Share buybacks (net) | $0 | $0 | $0 | $0 | $0 | $0 | $105.0M | $75.0M | $0 | $0 |
| Dividend payout ratio | 182.2% | 134.4% | 128.9% | 132.9% | — | 150.0% | 117.9% | 116.1% | 118.0% | 114.5% |
| Dividends + buybacks / free cash flow | 68.5% | 56.2% | 57.7% | 47.6% | 52.5% | 77.3% | 143.8% | 121.2% | 55.1% | 58.2% |
| Capex / revenue | 32.9% | 70.3% | 79.2% | 7.7% | 23.4% | 25.1% | 9.5% | 23.0% | 39.8% | 27.2% |
| Capex / operating cash flow | 96.1% | 155.8% | 173.0% | 15.7% | 47.2% | 72.1% | 19.0% | 47.5% | 87.4% | 66.3% |
| Capex / depreciation | 1.63 | 3.74 | 4.21 | 0.39 | 1.11 | 1.11 | 0.47 | 1.14 | 1.98 | 1.33 |
| Stock-based compensation / revenue | 0.7% | 0.6% | 0.6% | 0.6% | 0.7% | 0.6% | 0.8% | 0.8% | 0.7% | 0.7% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 9.2% | 9.3% | 9.1% | 9.1% | 8.5% | 8.5% | 9.0% | 8.1% | 8.0% | 8.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 69.9 | 72.6 | 79.7 | 85.4 | 94.3 | 95.0 | 83.7 | 86.4 | 86.0 | 87.5 |
| Days of inventory on hand | — | — | -18.2 | -22.4 | — | — | 227.4 | 0.0 | 0.0 | 0.0 |
| Days payables outstanding | 74.8 | 261.3 | 271.8 | 193.9 | 147.9 | 186.1 | 213.0 | 182.4 | 146.7 | 169.6 |
| Cash conversion cycle (days) | -4.8 | -188.7 | -210.3 | -130.9 | -53.6 | -91.1 | 98.1 | -96.0 | -60.7 | -82.1 |
| Receivables turnover | 5.22 | 5.03 | 4.58 | 4.28 | 3.87 | 3.84 | 4.36 | 4.22 | 4.24 | 4.17 |
| Payables turnover | 4.88 | 1.40 | 1.34 | 1.88 | 2.47 | 1.96 | 1.71 | 2.00 | 2.49 | 2.15 |
| Inventory turnover | — | — | — | — | — | — | 1.61 | 55,578,000.00 | 36,457,333.33 | 34,804,666.67 |
| Asset turnover | 0.14 | 0.13 | 0.13 | 0.14 | 0.14 | 0.14 | 0.15 | 0.15 | 0.16 | 0.16 |
| Average receivables | $55.9M | $53.5M | $56.2M | $57.5M | $61.8M | $58.6M | $53.1M | $54.0M | $53.5M | $52.1M |
| Average payables | $41.4M | $51.6M | $50.0M | $34.3M | $25.0M | $29.8M | $33.8M | $27.8M | $22.0M | $24.3M |
| Average inventory | — | — | −$3.4M | −$4.0M | — | — | $36.1M | $1 | $2 | $2 |
| Intangibles / total assets | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.2% |
Computed from BFS's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BFS valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Saul Centers traded at 20.4 times earnings, against a 10-year median of 20.7. Based on the latest twelve months, the trailing P/E is 30.1 and the forward P/E is 178.6. Saul Centers earned a return on equity of 11.7% and a return on invested capital of 5.0% in fiscal 2025. It ended the year with $1.6 billion of debt and $8.7 million in cash and short-term investments, net debt of $1.6 billion. It returned $68.3 million to shareholders: $68.3 million in dividends and $0 in share buybacks, 68% of free cash flow. The share count rose 12.0% from 21.6M to 24.2M over 9 years.
See the BFS income statement, the BFS chart for price history, or the BFS stock overview for the latest quote and news.
BFS key metrics FAQ
What is Saul Centers's P/E ratio?
Saul Centers's trailing P/E ratio is 30.1 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 178.6. At the end of fiscal 2025 it was 20.4, compared with a 10-year median of 20.7.
What is Saul Centers's EV/EBITDA?
Saul Centers's enterprise value was 13.2 times EBITDA at the end of fiscal 2025 (enterprise value $2.4 billion, EBITDA $178.6 million); the current EV/EBITDA is 14.0.
What is Saul Centers's return on equity?
Saul Centers's return on equity (ROE) was 11.7% in fiscal 2025: net income of $37.5 million on average shareholders' equity of $321.8 million.
What is Saul Centers's ROIC?
Saul Centers's return on invested capital was 5.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Saul Centers have?
Saul Centers had total debt of $1.6 billion at the end of fiscal 2025, a debt-to-equity ratio of 5.20 and $1.6 billion of net debt (8.92 times EBITDA).
What is Saul Centers's dividend yield?
Saul Centers's forward dividend yield is 5.70%. Saul Centers paid $68.3 million in dividends in fiscal 2025 ($2.82 per share), a payout ratio of 182.2%.
What is Saul Centers's free cash flow yield?
Saul Centers generated $99.8 million of free cash flow in fiscal 2025, a free cash flow yield of 13.1% on its market value at year-end ($763.6 million).
What is Saul Centers's current ratio?
Saul Centers's current ratio was 0.34 at the end of fiscal 2025: current assets were 0.34 times current liabilities.