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Side-by-side financial comparison of BRANDYWINE REALTY TRUST (BDN) and Telesat Corp (TSAT). Click either name above to swap in a different company.
BRANDYWINE REALTY TRUST is the larger business by last-quarter revenue ($127.0M vs $73.8M, roughly 1.7× Telesat Corp). BRANDYWINE REALTY TRUST runs the higher net margin — -38.4% vs -119.8%, a 81.4% gap on every dollar of revenue. Over the past eight quarters, BRANDYWINE REALTY TRUST's revenue compounded faster (0.7% CAGR vs -64.0%).
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.
Telesat, formerly Telesat Canada, is a Canadian satellite communications company founded on May 2, 1969. The company is headquartered in Ottawa.
BDN vs TSAT — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.0M | $73.8M |
| Net Profit | $-48.8M | $-88.4M |
| Gross Margin | — | 95.3% |
| Operating Margin | 1.2% | 5.9% |
| Net Margin | -38.4% | -119.8% |
| Revenue YoY | 4.5% | — |
| Net Profit YoY | -80.4% | — |
| EPS (diluted) | $-0.28 | — |
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 | — | ||
| Q4 25 | $121.0M | — | ||
| Q3 25 | $121.4M | $73.8M | ||
| Q2 25 | $120.6M | $77.5M | ||
| Q1 25 | $121.5M | $152.2M | ||
| Q4 24 | $121.9M | — | ||
| Q3 24 | $131.8M | — | ||
| Q2 24 | $125.3M | $363.2M |
| Q1 26 | $-48.8M | — | ||
| Q4 25 | $-36.7M | — | ||
| Q3 25 | $-25.9M | $-88.4M | ||
| Q2 25 | $-88.7M | $55.1M | ||
| Q1 25 | $-27.0M | $-52.3M | ||
| Q4 24 | $-44.5M | — | ||
| Q3 24 | $-165.2M | — | ||
| Q2 24 | $30.2M | $547.4M |
| Q1 26 | — | — | ||
| Q4 25 | 61.3% | — | ||
| Q3 25 | 62.6% | 95.3% | ||
| Q2 25 | 62.4% | 95.9% | ||
| 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% | 5.9% | ||
| Q2 25 | -34.3% | 16.8% | ||
| Q1 25 | 12.5% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | -7.2% | — | ||
| Q2 24 | 15.5% | — |
| Q1 26 | -38.4% | — | ||
| Q4 25 | -30.3% | — | ||
| Q3 25 | -21.3% | -119.8% | ||
| Q2 25 | -73.5% | 71.2% | ||
| Q1 25 | -22.2% | -34.4% | ||
| Q4 24 | -36.5% | — | ||
| Q3 24 | -125.4% | — | ||
| Q2 24 | 24.1% | 150.7% |
| Q1 26 | $-0.28 | — | ||
| Q4 25 | $-0.21 | — | ||
| Q3 25 | $-0.15 | — | ||
| Q2 25 | $-0.51 | — | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $-0.25 | — | ||
| Q3 24 | $-0.96 | — | ||
| Q2 24 | $0.17 | — |
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 | $352.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $1.6B |
| Total Assets | $3.6B | $5.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.2M | — | ||
| Q4 25 | $32.3M | — | ||
| Q3 25 | $75.5M | $352.3M | ||
| Q2 25 | $122.6M | $399.6M | ||
| Q1 25 | $29.4M | $552.1M | ||
| Q4 24 | $90.2M | — | ||
| Q3 24 | $36.5M | — | ||
| Q2 24 | $30.4M | $1.7B |
| Q1 26 | — | — | ||
| Q4 25 | $2.6B | — | ||
| Q3 25 | $2.3B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.2B | — | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | $2.2B | — |
| Q1 26 | — | — | ||
| Q4 25 | $792.7M | — | ||
| Q3 25 | $841.5M | $1.6B | ||
| Q2 25 | $879.8M | $1.7B | ||
| Q1 25 | $993.6M | $2.5B | ||
| Q4 24 | $1.0B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.3B | $2.4B |
| Q1 26 | $3.6B | — | ||
| Q4 25 | $3.6B | — | ||
| Q3 25 | $3.3B | $5.1B | ||
| Q2 25 | $3.4B | $4.9B | ||
| Q1 25 | $3.4B | $6.9B | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | $3.6B | — | ||
| Q2 24 | $3.8B | $6.3B |
| Q1 26 | — | — | ||
| Q4 25 | 3.23× | — | ||
| Q3 25 | 2.70× | — | ||
| Q2 25 | 2.63× | — | ||
| Q1 25 | 2.23× | — | ||
| Q4 24 | 2.13× | — | ||
| Q3 24 | 2.06× | — | ||
| Q2 24 | 1.73× | — |
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% |
TSAT
Segment breakdown not available.
