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Side-by-side financial comparison of BRANDYWINE REALTY TRUST (BDN) and Piedmont Realty Trust, Inc. (PDM). Click either name above to swap in a different company.
Piedmont Realty Trust, Inc. is the larger business by last-quarter revenue ($143.3M vs $127.0M, roughly 1.1× BRANDYWINE REALTY TRUST). Piedmont Realty Trust, Inc. runs the higher net margin — -31.4% vs -38.4%, a 7.0% gap on every dollar of revenue. On growth, BRANDYWINE REALTY TRUST posted the faster year-over-year revenue change (4.5% vs 0.4%). Over the past eight quarters, BRANDYWINE REALTY TRUST's revenue compounded faster (0.7% CAGR vs 0.0%).
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
Piedmont Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality office properties primarily located in high-growth metropolitan areas across the United States. It serves corporate tenants across multiple industry sectors including technology, professional services, and healthcare, and pursues stable long-term returns for stakeholders via strategic property management and portfolio optimization.
BDN vs PDM — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $127.0M | $143.3M |
| Net Profit | $-48.8M | $-45.0M |
| Gross Margin | — | — |
| Operating Margin | 1.2% | — |
| Net Margin | -38.4% | -31.4% |
| Revenue YoY | 4.5% | 0.4% |
| Net Profit YoY | -80.4% | -27.9% |
| EPS (diluted) | $-0.28 | $-0.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $127.0M | $143.3M | ||
| Q4 25 | $121.0M | $142.9M | ||
| Q3 25 | $121.4M | $139.2M | ||
| Q2 25 | $120.6M | $140.3M | ||
| Q1 25 | $121.5M | $142.7M | ||
| Q4 24 | $121.9M | $143.2M | ||
| Q3 24 | $131.8M | $139.3M | ||
| Q2 24 | $125.3M | $143.3M |
| Q1 26 | $-48.8M | $-45.0M | ||
| Q4 25 | $-36.7M | $-43.2M | ||
| Q3 25 | $-25.9M | $-13.5M | ||
| Q2 25 | $-88.7M | $-16.8M | ||
| Q1 25 | $-27.0M | $-10.1M | ||
| Q4 24 | $-44.5M | $-30.0M | ||
| Q3 24 | $-165.2M | $-11.5M | ||
| Q2 24 | $30.2M | $-9.8M |
| Q1 26 | — | — | ||
| Q4 25 | 61.3% | — | ||
| Q3 25 | 62.6% | — | ||
| Q2 25 | 62.4% | — | ||
| Q1 25 | 60.8% | — | ||
| Q4 24 | 61.2% | — | ||
| Q3 24 | 64.9% | — | ||
| Q2 24 | 63.1% | — |
| Q1 26 | 1.2% | — | ||
| Q4 25 | 22.8% | — | ||
| Q3 25 | 20.8% | — | ||
| Q2 25 | -34.3% | — | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | -7.2% | — | ||
| Q2 24 | 15.5% | — |
| Q1 26 | -38.4% | -31.4% | ||
| Q4 25 | -30.3% | -30.3% | ||
| Q3 25 | -21.3% | -9.7% | ||
| Q2 25 | -73.5% | -12.0% | ||
| Q1 25 | -22.2% | -7.1% | ||
| Q4 24 | -36.5% | -20.9% | ||
| Q3 24 | -125.4% | -8.3% | ||
| Q2 24 | 24.1% | -6.8% |
| Q1 26 | $-0.28 | $-0.10 | ||
| Q4 25 | $-0.21 | $-0.34 | ||
| Q3 25 | $-0.15 | $-0.11 | ||
| Q2 25 | $-0.51 | $-0.14 | ||
| Q1 25 | $-0.16 | $-0.08 | ||
| Q4 24 | $-0.25 | $-0.25 | ||
| Q3 24 | $-0.96 | $-0.09 | ||
| Q2 24 | $0.17 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.2M | $2.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $1.5B |
| Total Assets | $3.6B | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.2M | $2.3M | ||
| Q4 25 | $32.3M | $731.0K | ||
| Q3 25 | $75.5M | $3.0M | ||
| Q2 25 | $122.6M | $3.3M | ||
| Q1 25 | $29.4M | $2.9M | ||
| Q4 24 | $90.2M | $109.6M | ||
| Q3 24 | $36.5M | $133.6M | ||
| Q2 24 | $30.4M | $138.5M |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | $2.2B | ||
| Q3 25 | $2.3B | $2.2B | ||
| Q2 25 | $2.3B | $2.2B | ||
| Q1 25 | $2.2B | $2.2B | ||
| Q4 24 | $2.2B | $2.2B | ||
| Q3 24 | $2.3B | $2.2B | ||
| Q2 24 | $2.2B | $2.2B |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $792.7M | $1.5B | ||
| Q3 25 | $841.5M | $1.5B | ||
| Q2 25 | $879.8M | $1.5B | ||
| Q1 25 | $993.6M | $1.6B | ||
| Q4 24 | $1.0B | $1.6B | ||
| Q3 24 | $1.1B | $1.6B | ||
| Q2 24 | $1.3B | $1.7B |
| Q1 26 | $3.6B | $4.0B | ||
| Q4 25 | $3.6B | $4.0B | ||
| Q3 25 | $3.3B | $4.0B | ||
| Q2 25 | $3.4B | $4.0B | ||
| Q1 25 | $3.4B | $4.0B | ||
| Q4 24 | $3.5B | $4.1B | ||
| Q3 24 | $3.6B | $4.1B | ||
| Q2 24 | $3.8B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | 3.23× | 1.49× | ||
| Q3 25 | 2.70× | 1.43× | ||
| Q2 25 | 2.63× | 1.41× | ||
| Q1 25 | 2.23× | 1.40× | ||
| Q4 24 | 2.13× | 1.40× | ||
| Q3 24 | 2.06× | 1.36× | ||
| Q2 24 | 1.73× | 1.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDN
| Rents | $120.7M | 95% |
| Third party management fees, labor reimbursement and leasing | $4.7M | 4% |
PDM
Segment breakdown not available.
