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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) and Four Corners Property Trust, Inc. (FCPT). Click either name above to swap in a different company.
Four Corners Property Trust, Inc. is the larger business by last-quarter revenue ($78.2M vs $75.1M, roughly 1.0× SAUL CENTERS, INC.). Four Corners Property Trust, Inc. runs the higher net margin — 38.8% vs 8.7%, a 30.2% gap on every dollar of revenue. On growth, SAUL CENTERS, INC. posted the faster year-over-year revenue change (10.6% vs 9.4%). Over the past eight quarters, Four Corners Property Trust, Inc.'s revenue compounded faster (8.4% CAGR vs 6.2%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
Four Corners Property Trust, Inc. is a publicly traded real estate investment trust that acquires, owns, and manages a portfolio of high-quality net-leased commercial properties. Its assets are primarily restaurant and retail locations across the United States, with tenants largely operating in stable consumer-facing industry segments with proven operational performance.
BFS vs FCPT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $78.2M |
| Net Profit | $6.5M | $30.4M |
| Gross Margin | — | — |
| Operating Margin | 65.4% | 55.3% |
| Net Margin | 8.7% | 38.8% |
| Revenue YoY | 10.6% | 9.4% |
| Net Profit YoY | -19.6% | 16.0% |
| EPS (diluted) | $0.15 | $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 | — | $78.2M | ||
| Q4 25 | $75.1M | $75.7M | ||
| Q3 25 | $72.0M | $74.1M | ||
| Q2 25 | $70.8M | $72.8M | ||
| Q1 25 | $71.9M | $71.5M | ||
| Q4 24 | $67.9M | $68.3M | ||
| Q3 24 | $67.3M | $66.8M | ||
| Q2 24 | $66.9M | $66.5M |
| Q1 26 | — | $30.4M | ||
| Q4 25 | $6.5M | $29.4M | ||
| Q3 25 | $10.5M | $28.8M | ||
| Q2 25 | $10.7M | $27.9M | ||
| Q1 25 | $9.8M | $26.2M | ||
| Q4 24 | $8.1M | $26.2M | ||
| Q3 24 | $14.5M | $25.6M | ||
| Q2 24 | $14.4M | $24.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 73.6% | — | ||
| Q2 24 | 74.2% | — |
| Q1 26 | — | 55.3% | ||
| Q4 25 | 65.4% | — | ||
| Q3 25 | 69.1% | — | ||
| Q2 25 | 68.7% | — | ||
| Q1 25 | 66.5% | — | ||
| Q4 24 | 82.9% | — | ||
| Q3 24 | 72.8% | — | ||
| Q2 24 | 75.0% | — |
| Q1 26 | — | 38.8% | ||
| Q4 25 | 8.7% | 38.9% | ||
| Q3 25 | 14.6% | 38.9% | ||
| Q2 25 | 15.1% | 38.3% | ||
| Q1 25 | 13.6% | 36.6% | ||
| Q4 24 | 11.9% | 38.3% | ||
| Q3 24 | 21.5% | 38.3% | ||
| Q2 24 | 21.6% | 37.1% |
| Q1 26 | — | $0.28 | ||
| Q4 25 | $0.15 | $0.27 | ||
| Q3 25 | $0.32 | $0.28 | ||
| Q2 25 | $0.33 | $0.28 | ||
| Q1 25 | $0.29 | $0.26 | ||
| Q4 24 | $0.22 | $0.27 | ||
| Q3 24 | $0.48 | $0.27 | ||
| Q2 24 | $0.48 | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.7M | $29.6M |
| Total DebtLower is stronger | $468.4M | — |
| Stockholders' EquityBook value | $307.8M | $1.7B |
| Total Assets | $2.2B | $3.0B |
| Debt / EquityLower = less leverage | 1.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.6M | ||
| Q4 25 | $8.7M | $12.1M | ||
| Q3 25 | $11.8M | $6.7M | ||
| Q2 25 | $5.3M | $6.0M | ||
| Q1 25 | $6.5M | $22.3M | ||
| Q4 24 | $10.3M | $4.1M | ||
| Q3 24 | $7.2M | $44.5M | ||
| Q2 24 | $6.9M | $17.2M |
| Q1 26 | — | — | ||
| Q4 25 | $468.4M | $1.2B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $455.8M | $1.1B | ||
| Q3 24 | $1.5B | $1.1B | ||
| Q2 24 | $1.4B | $1.2B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $307.8M | $1.6B | ||
| Q3 25 | $316.6M | $1.5B | ||
| Q2 25 | $322.4M | $1.5B | ||
| Q1 25 | $328.4M | $1.4B | ||
| Q4 24 | $335.8M | $1.5B | ||
| Q3 24 | $341.8M | $1.4B | ||
| Q2 24 | $345.7M | $1.3B |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $2.2B | $2.9B | ||
| Q3 25 | $2.2B | $2.8B | ||
| Q2 25 | $2.1B | $2.8B | ||
| Q1 25 | $2.1B | $2.7B | ||
| Q4 24 | $2.1B | $2.7B | ||
| Q3 24 | $2.1B | $2.6B | ||
| Q2 24 | $2.1B | $2.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.52× | 0.74× | ||
| Q3 25 | 5.02× | 0.79× | ||
| Q2 25 | 4.85× | 0.81× | ||
| Q1 25 | 4.70× | 0.84× | ||
| Q4 24 | 1.36× | 0.78× | ||
| Q3 24 | 4.37× | 0.84× | ||
| Q2 24 | 4.17× | 0.92× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $99.8M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 15.35× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $99.8M | $192.3M | ||
| Q3 25 | $20.6M | $48.9M | ||
| Q2 25 | $26.6M | $43.8M | ||
| Q1 25 | $30.4M | $51.6M | ||
| Q4 24 | $121.2M | $144.1M | ||
| Q3 24 | $26.5M | $43.4M | ||
| Q2 24 | $32.1M | $39.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-28.3M | — | ||
| Q2 24 | $-12.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -42.1% | — | ||
| Q2 24 | -18.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 81.5% | — | ||
| Q2 24 | 66.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 15.35× | 6.53× | ||
| Q3 25 | 1.97× | 1.70× | ||
| Q2 25 | 2.48× | 1.57× | ||
| Q1 25 | 3.10× | 1.97× | ||
| Q4 24 | 14.98× | 5.51× | ||
| Q3 24 | 1.83× | 1.70× | ||
| Q2 24 | 2.22× | 1.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
FCPT
| Rental revenue | $69.8M | 89% |
| Restaurant revenue | $8.4M | 11% |
