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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) and Kennedy-Wilson Holdings, Inc. (KW). Click either name above to swap in a different company.
Kennedy-Wilson Holdings, Inc. is the larger business by last-quarter revenue ($120.6M vs $75.1M, roughly 1.6× SAUL CENTERS, INC.). Kennedy-Wilson Holdings, Inc. runs the higher net margin — 48.1% vs 8.7%, a 39.4% gap on every dollar of revenue. On growth, SAUL CENTERS, INC. posted the faster year-over-year revenue change (10.6% vs -11.0%). Over the past eight quarters, SAUL CENTERS, INC.'s revenue compounded faster (6.2% CAGR vs -6.0%).
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.
Kennedy Wilson is a real estate investment company headquartered in Beverly Hills, California, United States.
BFS vs KW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $120.6M |
| Net Profit | $6.5M | $58.0M |
| Gross Margin | — | — |
| Operating Margin | 65.4% | 57.3% |
| Net Margin | 8.7% | 48.1% |
| Revenue YoY | 10.6% | -11.0% |
| Net Profit YoY | -19.6% | 32.7% |
| EPS (diluted) | $0.15 | $0.22 |
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.
| Q4 25 | $75.1M | $120.6M | ||
| Q3 25 | $72.0M | $116.4M | ||
| Q2 25 | $70.8M | $135.7M | ||
| Q1 25 | $71.9M | $128.3M | ||
| Q4 24 | $67.9M | $135.5M | ||
| Q3 24 | $67.3M | $127.5M | ||
| Q2 24 | $66.9M | $132.0M | ||
| Q1 24 | $66.7M | $136.4M |
| Q4 25 | $6.5M | $58.0M | ||
| Q3 25 | $10.5M | $-10.2M | ||
| Q2 25 | $10.7M | $5.6M | ||
| Q1 25 | $9.8M | $-29.6M | ||
| Q4 24 | $8.1M | $43.7M | ||
| Q3 24 | $14.5M | $-66.8M | ||
| Q2 24 | $14.4M | $-48.3M | ||
| Q1 24 | $13.6M | $37.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 73.6% | — | ||
| Q2 24 | 74.2% | — | ||
| Q1 24 | 72.8% | — |
| Q4 25 | 65.4% | 57.3% | ||
| Q3 25 | 69.1% | -6.2% | ||
| Q2 25 | 68.7% | 7.4% | ||
| Q1 25 | 66.5% | -26.9% | ||
| Q4 24 | 82.9% | 36.7% | ||
| Q3 24 | 72.8% | -60.8% | ||
| Q2 24 | 75.0% | -45.5% | ||
| Q1 24 | 72.4% | 47.2% |
| Q4 25 | 8.7% | 48.1% | ||
| Q3 25 | 14.6% | -8.8% | ||
| Q2 25 | 15.1% | 4.1% | ||
| Q1 25 | 13.6% | -23.1% | ||
| Q4 24 | 11.9% | 32.3% | ||
| Q3 24 | 21.5% | -52.4% | ||
| Q2 24 | 21.6% | -36.6% | ||
| Q1 24 | 20.4% | 27.6% |
| Q4 25 | $0.15 | $0.22 | ||
| Q3 25 | $0.32 | $-0.15 | ||
| Q2 25 | $0.33 | $-0.05 | ||
| Q1 25 | $0.29 | $-0.30 | ||
| Q4 24 | $0.22 | $0.24 | ||
| Q3 24 | $0.48 | $-0.56 | ||
| Q2 24 | $0.48 | $-0.43 | ||
| Q1 24 | $0.45 | $0.19 |
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 | $184.5M |
| Total DebtLower is stronger | $468.4M | — |
| Stockholders' EquityBook value | $307.8M | $1.5B |
| Total Assets | $2.2B | $6.6B |
| Debt / EquityLower = less leverage | 1.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $184.5M | ||
| Q3 25 | $11.8M | $382.6M | ||
| Q2 25 | $5.3M | $309.1M | ||
| Q1 25 | $6.5M | $356.6M | ||
| Q4 24 | $10.3M | $217.5M | ||
| Q3 24 | $7.2M | $367.1M | ||
| Q2 24 | $6.9M | $366.5M | ||
| Q1 24 | $7.1M | $541.9M |
| Q4 25 | $468.4M | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $455.8M | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $307.8M | $1.5B | ||
| Q3 25 | $316.6M | $1.5B | ||
| Q2 25 | $322.4M | $1.6B | ||
| Q1 25 | $328.4M | $1.6B | ||
| Q4 24 | $335.8M | $1.6B | ||
| Q3 24 | $341.8M | $1.6B | ||
| Q2 24 | $345.7M | $1.7B | ||
| Q1 24 | $347.1M | $1.7B |
| Q4 25 | $2.2B | $6.6B | ||
| Q3 25 | $2.2B | $6.7B | ||
| Q2 25 | $2.1B | $6.8B | ||
| Q1 25 | $2.1B | $7.2B | ||
| Q4 24 | $2.1B | $7.0B | ||
| Q3 24 | $2.1B | $7.4B | ||
| Q2 24 | $2.1B | $7.5B | ||
| Q1 24 | $2.0B | $7.7B |
| Q4 25 | 1.52× | — | ||
| Q3 25 | 5.02× | — | ||
| Q2 25 | 4.85× | — | ||
| Q1 25 | 4.70× | — | ||
| Q4 24 | 1.36× | — | ||
| Q3 24 | 4.37× | — | ||
| Q2 24 | 4.17× | — | ||
| Q1 24 | 4.06× | — |
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 | $11.4M |
| Free Cash FlowOCF − Capex | — | $-55.2M |
| FCF MarginFCF / Revenue | — | -45.8% |
| Capex IntensityCapex / Revenue | — | 55.2% |
| Cash ConversionOCF / Net Profit | 15.35× | 0.20× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-103.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $11.4M | ||
| Q3 25 | $20.6M | $-7.6M | ||
| Q2 25 | $26.6M | $42.0M | ||
| Q1 25 | $30.4M | $-51.9M | ||
| Q4 24 | $121.2M | $55.1M | ||
| Q3 24 | $26.5M | $-5.6M | ||
| Q2 24 | $32.1M | $36.7M | ||
| Q1 24 | $33.8M | $-5.6M |
| Q4 25 | — | $-55.2M | ||
| Q3 25 | — | $-18.0M | ||
| Q2 25 | — | $29.4M | ||
| Q1 25 | — | $-59.7M | ||
| Q4 24 | — | $-76.5M | ||
| Q3 24 | $-28.3M | $-27.7M | ||
| Q2 24 | $-12.5M | $-500.0K | ||
| Q1 24 | $-11.7M | $-57.1M |
| Q4 25 | — | -45.8% | ||
| Q3 25 | — | -15.5% | ||
| Q2 25 | — | 21.7% | ||
| Q1 25 | — | -46.5% | ||
| Q4 24 | — | -56.5% | ||
| Q3 24 | -42.1% | -21.7% | ||
| Q2 24 | -18.7% | -0.4% | ||
| Q1 24 | -17.6% | -41.9% |
| Q4 25 | — | 55.2% | ||
| Q3 25 | — | 8.9% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | — | 6.1% | ||
| Q4 24 | — | 97.1% | ||
| Q3 24 | 81.5% | 17.3% | ||
| Q2 24 | 66.7% | 28.2% | ||
| Q1 24 | 68.3% | 37.8% |
| Q4 25 | 15.35× | 0.20× | ||
| Q3 25 | 1.97× | — | ||
| Q2 25 | 2.48× | 7.50× | ||
| Q1 25 | 3.10× | — | ||
| Q4 24 | 14.98× | 1.26× | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 2.22× | — | ||
| Q1 24 | 2.48× | -0.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
