vs
Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) and RE/MAX Holdings, Inc. (RMAX). Click either name above to swap in a different company.
SAUL CENTERS, INC. is the larger business by last-quarter revenue ($75.1M vs $71.1M, roughly 1.1× RE/MAX Holdings, Inc.). SAUL CENTERS, INC. runs the higher net margin — 8.7% vs 2.0%, a 6.6% gap on every dollar of revenue. On growth, SAUL CENTERS, INC. posted the faster year-over-year revenue change (10.6% vs -1.8%). Over the past eight quarters, SAUL CENTERS, INC.'s revenue compounded faster (6.2% CAGR vs -4.7%).
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.
RE/MAX is an international real estate franchise operating in over 100 countries and territories that, in 2015, had over 100,000 agents in 6,800 offices.
BFS vs RMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $71.1M |
| Net Profit | $6.5M | $1.4M |
| Gross Margin | — | — |
| Operating Margin | 65.4% | 13.1% |
| Net Margin | 8.7% | 2.0% |
| Revenue YoY | 10.6% | -1.8% |
| Net Profit YoY | -19.6% | -75.2% |
| EPS (diluted) | $0.15 | — |
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 | $71.1M | ||
| Q3 25 | $72.0M | $73.2M | ||
| Q2 25 | $70.8M | $72.8M | ||
| Q1 25 | $71.9M | $74.5M | ||
| Q4 24 | $67.9M | $72.5M | ||
| Q3 24 | $67.3M | $78.5M | ||
| Q2 24 | $66.9M | $78.5M | ||
| Q1 24 | $66.7M | $78.3M |
| Q4 25 | $6.5M | $1.4M | ||
| Q3 25 | $10.5M | $4.0M | ||
| Q2 25 | $10.7M | $4.7M | ||
| Q1 25 | $9.8M | $-2.0M | ||
| Q4 24 | $8.1M | $5.8M | ||
| Q3 24 | $14.5M | $966.0K | ||
| Q2 24 | $14.4M | $3.7M | ||
| Q1 24 | $13.6M | $-3.4M |
| 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% | 13.1% | ||
| Q3 25 | 69.1% | 25.0% | ||
| Q2 25 | 68.7% | 19.3% | ||
| Q1 25 | 66.5% | 7.2% | ||
| Q4 24 | 82.9% | 5.9% | ||
| Q3 24 | 72.8% | 19.4% | ||
| Q2 24 | 75.0% | 20.6% | ||
| Q1 24 | 72.4% | 5.8% |
| Q4 25 | 8.7% | 2.0% | ||
| Q3 25 | 14.6% | 5.4% | ||
| Q2 25 | 15.1% | 6.4% | ||
| Q1 25 | 13.6% | -2.6% | ||
| Q4 24 | 11.9% | 8.0% | ||
| Q3 24 | 21.5% | 1.2% | ||
| Q2 24 | 21.6% | 4.7% | ||
| Q1 24 | 20.4% | -4.3% |
| Q4 25 | $0.15 | — | ||
| Q3 25 | $0.32 | — | ||
| Q2 25 | $0.33 | — | ||
| Q1 25 | $0.29 | — | ||
| Q4 24 | $0.22 | — | ||
| Q3 24 | $0.48 | — | ||
| Q2 24 | $0.48 | — | ||
| Q1 24 | $0.45 | — |
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 | $118.7M |
| Total DebtLower is stronger | $468.4M | $432.2M |
| Stockholders' EquityBook value | $307.8M | $452.4M |
| Total Assets | $2.2B | $582.5M |
| Debt / EquityLower = less leverage | 1.52× | 0.96× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $118.7M | ||
| Q3 25 | $11.8M | $107.5M | ||
| Q2 25 | $5.3M | $94.3M | ||
| Q1 25 | $6.5M | $89.1M | ||
| Q4 24 | $10.3M | $96.6M | ||
| Q3 24 | $7.2M | $83.8M | ||
| Q2 24 | $6.9M | $66.1M | ||
| Q1 24 | $7.1M | $82.1M |
| Q4 25 | $468.4M | $432.2M | ||
| Q3 25 | $1.6B | $433.3M | ||
| Q2 25 | $1.6B | $434.4M | ||
| Q1 25 | $1.5B | $435.3M | ||
| Q4 24 | $455.8M | $436.2M | ||
| Q3 24 | $1.5B | $437.2M | ||
| Q2 24 | $1.4B | $438.1M | ||
| Q1 24 | $1.4B | $439.0M |
| Q4 25 | $307.8M | $452.4M | ||
| Q3 25 | $316.6M | $448.1M | ||
| Q2 25 | $322.4M | $442.4M | ||
| Q1 25 | $328.4M | $433.5M | ||
| Q4 24 | $335.8M | $429.5M | ||
| Q3 24 | $341.8M | $423.1M | ||
| Q2 24 | $345.7M | $418.4M | ||
| Q1 24 | $347.1M | $412.0M |
| Q4 25 | $2.2B | $582.5M | ||
| Q3 25 | $2.2B | $582.2M | ||
| Q2 25 | $2.1B | $574.8M | ||
| Q1 25 | $2.1B | $571.4M | ||
| Q4 24 | $2.1B | $581.6M | ||
| Q3 24 | $2.1B | $578.6M | ||
| Q2 24 | $2.1B | $571.4M | ||
| Q1 24 | $2.0B | $566.7M |
| Q4 25 | 1.52× | 0.96× | ||
| Q3 25 | 5.02× | 0.97× | ||
| Q2 25 | 4.85× | 0.98× | ||
| Q1 25 | 4.70× | 1.00× | ||
| Q4 24 | 1.36× | 1.02× | ||
| Q3 24 | 4.37× | 1.03× | ||
| Q2 24 | 4.17× | 1.05× | ||
| Q1 24 | 4.06× | 1.07× |
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 | $40.9M |
| Free Cash FlowOCF − Capex | — | $33.5M |
| FCF MarginFCF / Revenue | — | 47.1% |
| Capex IntensityCapex / Revenue | — | 10.4% |
| Cash ConversionOCF / Net Profit | 15.35× | 28.39× |
| TTM Free Cash FlowTrailing 4 quarters | — | $56.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $40.9M | ||
| Q3 25 | $20.6M | $17.7M | ||
| Q2 25 | $26.6M | $4.6M | ||
| Q1 25 | $30.4M | $5.7M | ||
| Q4 24 | $121.2M | $59.7M | ||
| Q3 24 | $26.5M | $17.6M | ||
| Q2 24 | $32.1M | $15.9M | ||
| Q1 24 | $33.8M | $9.4M |
| Q4 25 | — | $33.5M | ||
| Q3 25 | — | $16.4M | ||
| Q2 25 | — | $2.9M | ||
| Q1 25 | — | $4.0M | ||
| Q4 24 | — | $53.0M | ||
| Q3 24 | $-28.3M | $16.3M | ||
| Q2 24 | $-12.5M | $14.0M | ||
| Q1 24 | $-11.7M | $6.8M |
| Q4 25 | — | 47.1% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | 5.3% | ||
| Q4 24 | — | 73.2% | ||
| Q3 24 | -42.1% | 20.8% | ||
| Q2 24 | -18.7% | 17.8% | ||
| Q1 24 | -17.6% | 8.6% |
| Q4 25 | — | 10.4% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 9.1% | ||
| Q3 24 | 81.5% | 1.7% | ||
| Q2 24 | 66.7% | 2.4% | ||
| Q1 24 | 68.3% | 3.3% |
| Q4 25 | 15.35× | 28.39× | ||
| Q3 25 | 1.97× | 4.45× | ||
| Q2 25 | 2.48× | 0.97× | ||
| Q1 25 | 3.10× | — | ||
| Q4 24 | 14.98× | 10.28× | ||
| Q3 24 | 1.83× | 18.22× | ||
| Q2 24 | 2.22× | 4.29× | ||
| Q1 24 | 2.48× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
