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Side-by-side financial comparison of Franklin BSP Realty Trust, Inc. (FBRT) and READING INTERNATIONAL INC (RDI). Click either name above to swap in a different company.
Franklin BSP Realty Trust, Inc. is the larger business by last-quarter revenue ($81.1M vs $50.3M, roughly 1.6× READING INTERNATIONAL INC). Franklin BSP Realty Trust, Inc. runs the higher net margin — 22.7% vs -5.1%, a 27.8% gap on every dollar of revenue. On growth, Franklin BSP Realty Trust, Inc. posted the faster year-over-year revenue change (25.8% vs -14.2%). Over the past eight quarters, Franklin BSP Realty Trust, Inc.'s revenue compounded faster (22.6% CAGR vs 5.6%).
Franklin BSP Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) focused on originating, investing in, and managing a diversified portfolio of commercial real estate debt assets, including first mortgage loans, mezzanine financing and other credit-related real estate products. It operates primarily in the U.S. market, targeting consistent risk-adjusted returns and stable income distributions for investors.
The Reading Company was a Philadelphia-headquartered railroad that provided passenger and freight transport in eastern Pennsylvania and neighboring states from 1924 until its acquisition by Conrail in 1976.
FBRT vs RDI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $81.1M | $50.3M |
| Net Profit | $18.4M | $-2.6M |
| Gross Margin | — | — |
| Operating Margin | — | -1.9% |
| Net Margin | 22.7% | -5.1% |
| Revenue YoY | 25.8% | -14.2% |
| Net Profit YoY | -39.1% | -14.5% |
| EPS (diluted) | $0.13 | $-0.11 |
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 | $81.1M | $50.3M | ||
| Q3 25 | $89.5M | $52.2M | ||
| Q2 25 | $49.3M | $60.4M | ||
| Q1 25 | $50.1M | $40.2M | ||
| Q4 24 | $64.5M | $58.6M | ||
| Q3 24 | $54.0M | $60.1M | ||
| Q2 24 | $50.9M | $46.8M | ||
| Q1 24 | $54.0M | $45.1M |
| Q4 25 | $18.4M | $-2.6M | ||
| Q3 25 | $17.3M | $-4.2M | ||
| Q2 25 | $23.2M | $-2.7M | ||
| Q1 25 | $24.1M | $-4.8M | ||
| Q4 24 | $30.2M | $-2.2M | ||
| Q3 24 | $31.6M | $-7.0M | ||
| Q2 24 | $-2.2M | $-12.8M | ||
| Q1 24 | $35.9M | $-13.2M |
| Q4 25 | — | -1.9% | ||
| Q3 25 | — | -0.6% | ||
| Q2 25 | — | 4.8% | ||
| Q1 25 | — | -17.2% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | -0.6% | ||
| Q2 24 | — | -16.4% | ||
| Q1 24 | — | -16.7% |
| Q4 25 | 22.7% | -5.1% | ||
| Q3 25 | 19.3% | -8.0% | ||
| Q2 25 | 47.1% | -4.4% | ||
| Q1 25 | 48.0% | -11.8% | ||
| Q4 24 | 46.8% | -3.8% | ||
| Q3 24 | 58.5% | -11.7% | ||
| Q2 24 | -4.3% | -27.4% | ||
| Q1 24 | 66.6% | -29.4% |
| Q4 25 | $0.13 | $-0.11 | ||
| Q3 25 | $0.12 | $-0.18 | ||
| Q2 25 | $0.19 | $-0.12 | ||
| Q1 25 | $0.20 | $-0.21 | ||
| Q4 24 | $0.28 | $-0.11 | ||
| Q3 24 | $0.30 | $-0.31 | ||
| Q2 24 | $-0.11 | $-0.57 | ||
| Q1 24 | $0.35 | $-0.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $167.3M | $10.5M |
| Total DebtLower is stronger | — | $185.1M |
| Stockholders' EquityBook value | $1.4B | $-18.2M |
| Total Assets | $6.1B | $434.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $10.5M | ||
| Q3 25 | $116.7M | $8.1M | ||
| Q2 25 | $414.1M | $9.1M | ||
| Q1 25 | $215.4M | $5.9M | ||
| Q4 24 | $184.4M | $12.4M | ||
| Q3 24 | $346.2M | $10.1M | ||
| Q2 24 | $94.8M | $9.3M | ||
| Q1 24 | $240.0M | $7.5M |
| Q4 25 | — | $185.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $202.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.4B | $-18.2M | ||
| Q3 25 | $1.5B | $-12.1M | ||
| Q2 25 | $1.5B | $-7.7M | ||
| Q1 25 | $1.5B | $-8.1M | ||
| Q4 24 | $1.5B | $-4.4M | ||
| Q3 24 | $1.5B | $1.6M | ||
| Q2 24 | $1.5B | $6.5M | ||
| Q1 24 | $1.6B | $18.0M |
| Q4 25 | $6.1B | $434.9M | ||
| Q3 25 | $6.2B | $435.2M | ||
| Q2 25 | $5.6B | $438.1M | ||
| Q1 25 | $5.7B | $441.0M | ||
| Q4 24 | $6.0B | $471.0M | ||
| Q3 24 | $6.3B | $495.7M | ||
| Q2 24 | $6.3B | $494.9M | ||
| Q1 24 | $6.0B | $494.9M |
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 | $291.9M | $4.3M |
| Free Cash FlowOCF − Capex | — | $4.1M |
| FCF MarginFCF / Revenue | — | 8.2% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | 15.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-2.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $291.9M | $4.3M | ||
| Q3 25 | $-148.1M | $295.0K | ||
| Q2 25 | $11.8M | $1.6M | ||
| Q1 25 | $116.2M | $-7.7M | ||
| Q4 24 | $57.2M | $8.0M | ||
| Q3 24 | $97.4M | $1.3M | ||
| Q2 24 | $1.9M | $-10.4M | ||
| Q1 24 | $13.0M | $-2.8M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $-246.0K | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | — | $-8.0M | ||
| Q4 24 | — | $7.0M | ||
| Q3 24 | — | $-1.1M | ||
| Q2 24 | — | $-10.6M | ||
| Q1 24 | — | $-4.7M |
| Q4 25 | — | 8.2% | ||
| Q3 25 | — | -0.5% | ||
| Q2 25 | — | 1.9% | ||
| Q1 25 | — | -19.8% | ||
| Q4 24 | — | 12.0% | ||
| Q3 24 | — | -1.8% | ||
| Q2 24 | — | -22.7% | ||
| Q1 24 | — | -10.4% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.6% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 4.3% |
| Q4 25 | 15.88× | — | ||
| Q3 25 | -8.56× | — | ||
| Q2 25 | 0.51× | — | ||
| Q1 25 | 4.83× | — | ||
| Q4 24 | 1.90× | — | ||
| Q3 24 | 3.08× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.36× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FBRT
| New Point Holdings JVLLC | $77.3M | 95% |
| Other | $2.1M | 3% |
| Office Building | $1.7M | 2% |
RDI
| Cinema Exhibition Segment | $46.9M | 93% |
| Real Estate Revenue | $3.4M | 7% |
