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Side-by-side financial comparison of Claros Mortgage Trust, Inc. (CMTG) and FRANKLIN STREET PROPERTIES CORP (FSP). Click either name above to swap in a different company.
Claros Mortgage Trust, Inc. is the larger business by last-quarter revenue ($46.7M vs $26.0M, roughly 1.8× FRANKLIN STREET PROPERTIES CORP). FRANKLIN STREET PROPERTIES CORP runs the higher net margin — -28.1% vs -468.9%, a 440.8% gap on every dollar of revenue. On growth, FRANKLIN STREET PROPERTIES CORP posted the faster year-over-year revenue change (-8.2% vs -22.4%). Over the past eight quarters, FRANKLIN STREET PROPERTIES CORP's revenue compounded faster (-8.7% CAGR vs -10.9%).
Claros Mortgage Trust, Inc. is a U.S.-based real estate investment trust that invests in diversified mortgage-related assets, including residential and commercial mortgage loans and mortgage-backed securities. It pursues stable, risk-adjusted long-term returns for shareholders via rigorous asset evaluation and active portfolio management.
Franklin Street Properties Corp is a Massachusetts-based real estate investment trust (REIT) in the United States. It primarily invests in, owns, and operates high-quality office properties across major U.S. metropolitan markets, serving corporate tenants across various industry segments, and delivers stable long-term returns via rental income and strategic asset management.
CMTG vs FSP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $46.7M | $26.0M |
| Net Profit | $-219.2M | $-7.3M |
| Gross Margin | — | 59.4% |
| Operating Margin | — | -27.9% |
| Net Margin | -468.9% | -28.1% |
| Revenue YoY | -22.4% | -8.2% |
| Net Profit YoY | -117.7% | 14.1% |
| EPS (diluted) | $-1.56 | $-0.06 |
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 | $46.7M | $26.0M | ||
| Q3 25 | $46.1M | $27.3M | ||
| Q2 25 | $51.6M | $26.7M | ||
| Q1 25 | $43.4M | $27.1M | ||
| Q4 24 | $60.2M | $28.4M | ||
| Q3 24 | $64.9M | $29.7M | ||
| Q2 24 | $64.5M | $30.8M | ||
| Q1 24 | $58.8M | $31.2M |
| Q4 25 | $-219.2M | $-7.3M | ||
| Q3 25 | $-9.5M | $-8.3M | ||
| Q2 25 | $-181.7M | $-7.9M | ||
| Q1 25 | $-78.6M | $-21.4M | ||
| Q4 24 | $-100.7M | $-8.5M | ||
| Q3 24 | $-56.2M | $-15.6M | ||
| Q2 24 | $-11.6M | $-21.0M | ||
| Q1 24 | $-52.8M | $-7.6M |
| Q4 25 | — | 59.4% | ||
| Q3 25 | — | 60.9% | ||
| Q2 25 | — | 59.9% | ||
| Q1 25 | — | 62.8% | ||
| Q4 24 | — | 59.7% | ||
| Q3 24 | — | 61.0% | ||
| Q2 24 | — | 64.2% | ||
| Q1 24 | — | 64.7% |
| Q4 25 | — | -27.9% | ||
| Q3 25 | — | -30.5% | ||
| Q2 25 | — | -29.2% | ||
| Q1 25 | — | -78.9% | ||
| Q4 24 | — | -29.9% | ||
| Q3 24 | — | -52.4% | ||
| Q2 24 | — | -68.0% | ||
| Q1 24 | — | -24.0% |
| Q4 25 | -468.9% | -28.1% | ||
| Q3 25 | -20.7% | -30.5% | ||
| Q2 25 | -351.9% | -29.5% | ||
| Q1 25 | -181.3% | -79.1% | ||
| Q4 24 | -167.2% | -30.0% | ||
| Q3 24 | -86.7% | -52.6% | ||
| Q2 24 | -17.9% | -68.2% | ||
| Q1 24 | -89.7% | -24.2% |
| Q4 25 | $-1.56 | $-0.06 | ||
| Q3 25 | $-0.07 | $-0.08 | ||
| Q2 25 | $-1.30 | $-0.08 | ||
| Q1 25 | $-0.56 | $-0.21 | ||
| Q4 24 | $-0.72 | $-0.09 | ||
| Q3 24 | $-0.40 | $-0.15 | ||
| Q2 24 | $-0.09 | $-0.20 | ||
| Q1 24 | $-0.39 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $173.2M | $30.6M |
| Total DebtLower is stronger | $3.2B | — |
| Stockholders' EquityBook value | $1.5B | $607.0M |
| Total Assets | $4.7B | $892.9M |
| Debt / EquityLower = less leverage | 2.06× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $173.2M | $30.6M | ||
| Q3 25 | $339.5M | $31.4M | ||
| Q2 25 | $209.2M | $29.4M | ||
| Q1 25 | $127.8M | $30.2M | ||
| Q4 24 | $99.1M | $41.1M | ||
| Q3 24 | $113.9M | $40.9M | ||
| Q2 24 | $148.2M | $30.2M | ||
| Q1 24 | $232.5M | $34.2M |
| Q4 25 | $3.2B | — | ||
| Q3 25 | $3.7B | — | ||
| Q2 25 | $4.0B | — | ||
| Q1 25 | $4.7B | — | ||
| Q4 24 | $4.9B | — | ||
| Q3 24 | $5.1B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $5.5B | — |
| Q4 25 | $1.5B | $607.0M | ||
| Q3 25 | $1.7B | $615.3M | ||
| Q2 25 | $1.8B | $624.7M | ||
| Q1 25 | $1.9B | $633.4M | ||
| Q4 24 | $2.0B | $655.9M | ||
| Q3 24 | $2.1B | $665.4M | ||
| Q2 24 | $2.2B | $682.1M | ||
| Q1 24 | $2.2B | $703.9M |
| Q4 25 | $4.7B | $892.9M | ||
| Q3 25 | $5.4B | $901.0M | ||
| Q2 25 | $5.8B | $903.2M | ||
| Q1 25 | $6.7B | $916.4M | ||
| Q4 24 | $7.0B | $946.9M | ||
| Q3 24 | $7.3B | $981.5M | ||
| Q2 24 | $7.6B | $1.0B | ||
| Q1 24 | $7.8B | $1.0B |
| Q4 25 | 2.06× | — | ||
| Q3 25 | 2.09× | — | ||
| Q2 25 | 2.29× | — | ||
| Q1 25 | 2.42× | — | ||
| Q4 24 | 2.44× | — | ||
| Q3 24 | 2.44× | — | ||
| Q2 24 | 2.46× | — | ||
| Q1 24 | 2.47× | — |
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 | $-30.5M | $3.8M |
| Free Cash FlowOCF − Capex | — | $-12.7M |
| FCF MarginFCF / Revenue | — | -48.6% |
| Capex IntensityCapex / Revenue | — | 63.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-25.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-30.5M | $3.8M | ||
| Q3 25 | $8.8M | $8.3M | ||
| Q2 25 | $-5.8M | $-2.9M | ||
| Q1 25 | $-35.8M | $-5.5M | ||
| Q4 24 | $84.5M | $9.0M | ||
| Q3 24 | $39.2M | $14.5M | ||
| Q2 24 | $5.5M | $-648.0K | ||
| Q1 24 | $21.5M | $-7.1M |
| Q4 25 | — | $-12.7M | ||
| Q3 25 | — | $3.0M | ||
| Q2 25 | — | $-5.7M | ||
| Q1 25 | — | $-9.9M | ||
| Q4 24 | — | $-16.2M | ||
| Q3 24 | — | $8.6M | ||
| Q2 24 | — | $-5.1M | ||
| Q1 24 | — | $-15.8M |
| Q4 25 | — | -48.6% | ||
| Q3 25 | — | 11.0% | ||
| Q2 25 | — | -21.5% | ||
| Q1 25 | — | -36.7% | ||
| Q4 24 | — | -57.2% | ||
| Q3 24 | — | 29.1% | ||
| Q2 24 | — | -16.7% | ||
| Q1 24 | — | -50.8% |
| Q4 25 | — | 63.0% | ||
| Q3 25 | — | 19.4% | ||
| Q2 25 | — | 10.7% | ||
| Q1 25 | — | 16.4% | ||
| Q4 24 | — | 88.9% | ||
| Q3 24 | — | 19.6% | ||
| Q2 24 | — | 14.6% | ||
| Q1 24 | — | 28.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CMTG
| Real Estate Owned Portfolio | $34.2M | 73% |
| Other | $11.1M | 24% |
| Mixed Use Property Fixed Rents | $1.4M | 3% |
FSP
Segment breakdown not available.
