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Side-by-side financial comparison of FRANKLIN STREET PROPERTIES CORP (FSP) and Performance Shipping Inc. (PSHG). Click either name above to swap in a different company.

Performance Shipping Inc. is the larger business by last-quarter revenue ($39.5M vs $26.0M, roughly 1.5× FRANKLIN STREET PROPERTIES CORP). Performance Shipping Inc. runs the higher net margin — 97.5% vs -28.1%, a 125.7% gap on every dollar of revenue. On growth, Performance Shipping Inc. posted the faster year-over-year revenue change (-7.9% vs -8.2%).

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.

Azerbaijan Caspian Shipping Closed Joint-Stock Company is a state-owned Azerbaijani shipping company. It is also known by its Russian-derived abbreviation CASPAR.

FSP vs PSHG — Head-to-Head

Bigger by revenue
PSHG
PSHG
1.5× larger
PSHG
$39.5M
$26.0M
FSP
Growing faster (revenue YoY)
PSHG
PSHG
+0.3% gap
PSHG
-7.9%
-8.2%
FSP
Higher net margin
PSHG
PSHG
125.7% more per $
PSHG
97.5%
-28.1%
FSP

Income Statement — Q4 FY2025 vs Q2 FY2025

Metric
FSP
FSP
PSHG
PSHG
Revenue
$26.0M
$39.5M
Net Profit
$-7.3M
$38.5M
Gross Margin
59.4%
Operating Margin
-27.9%
93.3%
Net Margin
-28.1%
97.5%
Revenue YoY
-8.2%
-7.9%
Net Profit YoY
14.1%
78.1%
EPS (diluted)
$-0.06
$1.00

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.

Revenue
FSP
FSP
PSHG
PSHG
Q4 25
$26.0M
Q3 25
$27.3M
Q2 25
$26.7M
$39.5M
Q1 25
$27.1M
Q4 24
$28.4M
Q3 24
$29.7M
Q2 24
$30.8M
$42.9M
Q1 24
$31.2M
Net Profit
FSP
FSP
PSHG
PSHG
Q4 25
$-7.3M
Q3 25
$-8.3M
Q2 25
$-7.9M
$38.5M
Q1 25
$-21.4M
Q4 24
$-8.5M
Q3 24
$-15.6M
Q2 24
$-21.0M
$21.6M
Q1 24
$-7.6M
Gross Margin
FSP
FSP
PSHG
PSHG
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%
Operating Margin
FSP
FSP
PSHG
PSHG
Q4 25
-27.9%
Q3 25
-30.5%
Q2 25
-29.2%
93.3%
Q1 25
-78.9%
Q4 24
-29.9%
Q3 24
-52.4%
Q2 24
-68.0%
49.1%
Q1 24
-24.0%
Net Margin
FSP
FSP
PSHG
PSHG
Q4 25
-28.1%
Q3 25
-30.5%
Q2 25
-29.5%
97.5%
Q1 25
-79.1%
Q4 24
-30.0%
Q3 24
-52.6%
Q2 24
-68.2%
50.4%
Q1 24
-24.2%
EPS (diluted)
FSP
FSP
PSHG
PSHG
Q4 25
$-0.06
Q3 25
$-0.08
Q2 25
$-0.08
$1.00
Q1 25
$-0.21
Q4 24
$-0.09
Q3 24
$-0.15
Q2 24
$-0.20
$0.55
Q1 24
$-0.07

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
FSP
FSP
PSHG
PSHG
Cash + ST InvestmentsLiquidity on hand
$30.6M
$95.8M
Total DebtLower is stronger
$43.7M
Stockholders' EquityBook value
$607.0M
$312.8M
Total Assets
$892.9M
$363.8M
Debt / EquityLower = less leverage
0.14×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
FSP
FSP
PSHG
PSHG
Q4 25
$30.6M
Q3 25
$31.4M
Q2 25
$29.4M
$95.8M
Q1 25
$30.2M
Q4 24
$41.1M
Q3 24
$40.9M
Q2 24
$30.2M
$61.7M
Q1 24
$34.2M
Total Debt
FSP
FSP
PSHG
PSHG
Q4 25
Q3 25
Q2 25
$43.7M
Q1 25
Q4 24
Q3 24
Q2 24
$51.2M
Q1 24
Stockholders' Equity
FSP
FSP
PSHG
PSHG
Q4 25
$607.0M
Q3 25
$615.3M
Q2 25
$624.7M
$312.8M
Q1 25
$633.4M
Q4 24
$655.9M
Q3 24
$665.4M
Q2 24
$682.1M
$254.0M
Q1 24
$703.9M
Total Assets
FSP
FSP
PSHG
PSHG
Q4 25
$892.9M
Q3 25
$901.0M
Q2 25
$903.2M
$363.8M
Q1 25
$916.4M
Q4 24
$946.9M
Q3 24
$981.5M
Q2 24
$1.0B
$310.5M
Q1 24
$1.0B
Debt / Equity
FSP
FSP
PSHG
PSHG
Q4 25
Q3 25
Q2 25
0.14×
Q1 25
Q4 24
Q3 24
Q2 24
0.20×
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
FSP
FSP
PSHG
PSHG
Operating Cash FlowLast quarter
$3.8M
$26.8M
Free Cash FlowOCF − Capex
$-12.7M
FCF MarginFCF / Revenue
-48.6%
Capex IntensityCapex / Revenue
63.0%
Cash ConversionOCF / Net Profit
0.70×
TTM Free Cash FlowTrailing 4 quarters
$-25.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
FSP
FSP
PSHG
PSHG
Q4 25
$3.8M
Q3 25
$8.3M
Q2 25
$-2.9M
$26.8M
Q1 25
$-5.5M
Q4 24
$9.0M
Q3 24
$14.5M
Q2 24
$-648.0K
$31.7M
Q1 24
$-7.1M
Free Cash Flow
FSP
FSP
PSHG
PSHG
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
FCF Margin
FSP
FSP
PSHG
PSHG
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%
Capex Intensity
FSP
FSP
PSHG
PSHG
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%
0.0%
Q1 24
28.1%
Cash Conversion
FSP
FSP
PSHG
PSHG
Q4 25
Q3 25
Q2 25
0.70×
Q1 25
Q4 24
Q3 24
Q2 24
1.47×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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