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Side-by-side financial comparison of Franklin BSP Realty Trust, Inc. (FBRT) and RMR GROUP INC. (RMR). 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 $66.7M, roughly 1.2× RMR GROUP INC.). Franklin BSP Realty Trust, Inc. runs the higher net margin — 22.7% vs 18.3%, a 4.4% gap on every dollar of revenue. On growth, RMR GROUP INC. posted the faster year-over-year revenue change (40.8% vs 25.8%).
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.
RMR Group Inc. is a U.S.-headquartered alternative asset management firm specializing in real estate and real estate-related investments. It operates across commercial property, residential real estate, and infrastructure segments, serving institutional investors, high-net-worth individuals, and retail clients across key global markets.
FBRT vs RMR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $81.1M | $66.7M |
| Net Profit | $18.4M | $12.2M |
| Gross Margin | — | — |
| Operating Margin | — | 48.1% |
| Net Margin | 22.7% | 18.3% |
| Revenue YoY | 25.8% | 40.8% |
| Net Profit YoY | -39.1% | 91.1% |
| EPS (diluted) | $0.13 | $0.71 |
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 | $66.7M | ||
| Q3 25 | $89.5M | — | ||
| Q2 25 | $49.3M | — | ||
| Q1 25 | $50.1M | — | ||
| Q4 24 | $64.5M | — | ||
| Q3 24 | $54.0M | — | ||
| Q2 24 | $50.9M | — | ||
| Q1 24 | $54.0M | — |
| Q4 25 | $18.4M | $12.2M | ||
| Q3 25 | $17.3M | — | ||
| Q2 25 | $23.2M | — | ||
| Q1 25 | $24.1M | — | ||
| Q4 24 | $30.2M | — | ||
| Q3 24 | $31.6M | — | ||
| Q2 24 | $-2.2M | — | ||
| Q1 24 | $35.9M | — |
| Q4 25 | — | 48.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 22.7% | 18.3% | ||
| Q3 25 | 19.3% | — | ||
| Q2 25 | 47.1% | — | ||
| Q1 25 | 48.0% | — | ||
| Q4 24 | 46.8% | — | ||
| Q3 24 | 58.5% | — | ||
| Q2 24 | -4.3% | — | ||
| Q1 24 | 66.6% | — |
| Q4 25 | $0.13 | $0.71 | ||
| Q3 25 | $0.12 | — | ||
| Q2 25 | $0.19 | — | ||
| Q1 25 | $0.20 | — | ||
| Q4 24 | $0.28 | — | ||
| Q3 24 | $0.30 | — | ||
| Q2 24 | $-0.11 | — | ||
| Q1 24 | $0.35 | — |
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 | $49.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $232.7M |
| Total Assets | $6.1B | $687.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $49.3M | ||
| Q3 25 | $116.7M | — | ||
| Q2 25 | $414.1M | — | ||
| Q1 25 | $215.4M | — | ||
| Q4 24 | $184.4M | — | ||
| Q3 24 | $346.2M | — | ||
| Q2 24 | $94.8M | — | ||
| Q1 24 | $240.0M | — |
| Q4 25 | $1.4B | $232.7M | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.5B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.5B | — | ||
| Q1 24 | $1.6B | — |
| Q4 25 | $6.1B | $687.1M | ||
| Q3 25 | $6.2B | — | ||
| Q2 25 | $5.6B | — | ||
| Q1 25 | $5.7B | — | ||
| Q4 24 | $6.0B | — | ||
| Q3 24 | $6.3B | — | ||
| Q2 24 | $6.3B | — | ||
| Q1 24 | $6.0B | — |
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 | $10.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 15.88× | 0.88× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $291.9M | $10.7M | ||
| Q3 25 | $-148.1M | — | ||
| Q2 25 | $11.8M | — | ||
| Q1 25 | $116.2M | — | ||
| Q4 24 | $57.2M | — | ||
| Q3 24 | $97.4M | — | ||
| Q2 24 | $1.9M | — | ||
| Q1 24 | $13.0M | — |
| Q4 25 | 15.88× | 0.88× | ||
| 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% |
RMR
| Management Service Incentive | $23.6M | 35% |
| Industrial Logistics Properties Trust | $15.1M | 23% |
| Managed Private Real Estate Capital | $11.1M | 17% |
| Office Properties Income Trust | $5.6M | 8% |
| Other Private Entities | $5.3M | 8% |
| RMR Residential | $3.4M | 5% |
| Sonesta International Hotels Corporation | $2.1M | 3% |
| Investment Advisory Management And Administrative Service | $1.2M | 2% |
