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Side-by-side financial comparison of FRANKLIN STREET PROPERTIES CORP (FSP) and TELOS CORP (TLS). Click either name above to swap in a different company.
TELOS CORP is the larger business by last-quarter revenue ($46.8M vs $26.0M, roughly 1.8× FRANKLIN STREET PROPERTIES CORP). FRANKLIN STREET PROPERTIES CORP runs the higher net margin — -28.1% vs -34.9%, a 6.7% gap on every dollar of revenue. On growth, TELOS CORP posted the faster year-over-year revenue change (77.4% vs -8.2%). TELOS CORP produced more free cash flow last quarter ($8.0M vs $-12.7M). Over the past eight quarters, TELOS CORP's revenue compounded faster (25.7% CAGR vs -8.7%).
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.
Telos Corporation is an information technology and cybersecurity company located in Ashburn, Virginia. Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the United States Department of Defense. Customers are primarily military, intelligence and civilian agencies of the US government and NATO allies.
FSP vs TLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.0M | $46.8M |
| Net Profit | $-7.3M | $-16.3M |
| Gross Margin | 59.4% | 35.0% |
| Operating Margin | -27.9% | -39.6% |
| Net Margin | -28.1% | -34.9% |
| Revenue YoY | -8.2% | 77.4% |
| Net Profit YoY | 14.1% | -74.8% |
| EPS (diluted) | $-0.06 | $-0.22 |
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 | $26.0M | $46.8M | ||
| Q3 25 | $27.3M | $51.4M | ||
| Q2 25 | $26.7M | $36.0M | ||
| Q1 25 | $27.1M | $30.6M | ||
| Q4 24 | $28.4M | $26.4M | ||
| Q3 24 | $29.7M | $23.8M | ||
| Q2 24 | $30.8M | $28.5M | ||
| Q1 24 | $31.2M | $29.6M |
| Q4 25 | $-7.3M | $-16.3M | ||
| Q3 25 | $-8.3M | $-2.1M | ||
| Q2 25 | $-7.9M | $-9.5M | ||
| Q1 25 | $-21.4M | $-8.6M | ||
| Q4 24 | $-8.5M | $-9.3M | ||
| Q3 24 | $-15.6M | $-28.1M | ||
| Q2 24 | $-21.0M | $-7.8M | ||
| Q1 24 | $-7.6M | $-7.4M |
| Q4 25 | 59.4% | 35.0% | ||
| Q3 25 | 60.9% | 39.9% | ||
| Q2 25 | 59.9% | 33.2% | ||
| Q1 25 | 62.8% | 39.8% | ||
| Q4 24 | 59.7% | 40.3% | ||
| Q3 24 | 61.0% | 13.2% | ||
| Q2 24 | 64.2% | 34.1% | ||
| Q1 24 | 64.7% | 37.0% |
| Q4 25 | -27.9% | -39.6% | ||
| Q3 25 | -30.5% | -4.8% | ||
| Q2 25 | -29.2% | -27.5% | ||
| Q1 25 | -78.9% | -29.5% | ||
| Q4 24 | -29.9% | -37.6% | ||
| Q3 24 | -52.4% | -121.4% | ||
| Q2 24 | -68.0% | -30.3% | ||
| Q1 24 | -24.0% | -28.5% |
| Q4 25 | -28.1% | -34.9% | ||
| Q3 25 | -30.5% | -4.1% | ||
| Q2 25 | -29.5% | -26.5% | ||
| Q1 25 | -79.1% | -28.1% | ||
| Q4 24 | -30.0% | -35.4% | ||
| Q3 24 | -52.6% | -118.0% | ||
| Q2 24 | -68.2% | -27.2% | ||
| Q1 24 | -24.2% | -24.9% |
| Q4 25 | $-0.06 | $-0.22 | ||
| Q3 25 | $-0.08 | $-0.03 | ||
| Q2 25 | $-0.08 | $-0.13 | ||
| Q1 25 | $-0.21 | $-0.12 | ||
| Q4 24 | $-0.09 | $-0.13 | ||
| Q3 24 | $-0.15 | $-0.39 | ||
| Q2 24 | $-0.20 | $-0.11 | ||
| Q1 24 | $-0.07 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $30.6M | $53.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $607.0M | $96.0M |
| Total Assets | $892.9M | $139.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.6M | $53.2M | ||
| Q3 25 | $31.4M | $59.0M | ||
| Q2 25 | $29.4M | $57.0M | ||
| Q1 25 | $30.2M | $57.8M | ||
| Q4 24 | $41.1M | $54.6M | ||
| Q3 24 | $40.9M | $69.8M | ||
| Q2 24 | $30.2M | $80.1M | ||
| Q1 24 | $34.2M | $93.9M |
| Q4 25 | $607.0M | $96.0M | ||
| Q3 25 | $615.3M | $119.7M | ||
| Q2 25 | $624.7M | $118.4M | ||
| Q1 25 | $633.4M | $126.1M | ||
| Q4 24 | $655.9M | $127.1M | ||
| Q3 24 | $665.4M | $129.5M | ||
| Q2 24 | $682.1M | $149.1M | ||
| Q1 24 | $703.9M | $154.4M |
| Q4 25 | $892.9M | $139.9M | ||
| Q3 25 | $901.0M | $164.3M | ||
| Q2 25 | $903.2M | $165.0M | ||
| Q1 25 | $916.4M | $158.1M | ||
| Q4 24 | $946.9M | $158.2M | ||
| Q3 24 | $981.5M | $166.3M | ||
| Q2 24 | $1.0B | $182.4M | ||
| Q1 24 | $1.0B | $195.4M |
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 | $3.8M | $8.0M |
| Free Cash FlowOCF − Capex | $-12.7M | $8.0M |
| FCF MarginFCF / Revenue | -48.6% | 17.0% |
| Capex IntensityCapex / Revenue | 63.0% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-25.3M | $29.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8M | $8.0M | ||
| Q3 25 | $8.3M | $9.1M | ||
| Q2 25 | $-2.9M | $7.0M | ||
| Q1 25 | $-5.5M | $6.1M | ||
| Q4 24 | $9.0M | $-10.5M | ||
| Q3 24 | $14.5M | $-7.1M | ||
| Q2 24 | $-648.0K | $-8.0M | ||
| Q1 24 | $-7.1M | $-350.0K |
| Q4 25 | $-12.7M | $8.0M | ||
| Q3 25 | $3.0M | $8.7M | ||
| Q2 25 | $-5.7M | $6.8M | ||
| Q1 25 | $-9.9M | $6.0M | ||
| Q4 24 | $-16.2M | $-12.4M | ||
| Q3 24 | $8.6M | $-7.1M | ||
| Q2 24 | $-5.1M | $-8.2M | ||
| Q1 24 | $-15.8M | $-447.0K |
| Q4 25 | -48.6% | 17.0% | ||
| Q3 25 | 11.0% | 16.9% | ||
| Q2 25 | -21.5% | 19.0% | ||
| Q1 25 | -36.7% | 19.5% | ||
| Q4 24 | -57.2% | -47.0% | ||
| Q3 24 | 29.1% | -30.0% | ||
| Q2 24 | -16.7% | -28.9% | ||
| Q1 24 | -50.8% | -1.5% |
| Q4 25 | 63.0% | 0.1% | ||
| Q3 25 | 19.4% | 0.9% | ||
| Q2 25 | 10.7% | 0.4% | ||
| Q1 25 | 16.4% | 0.4% | ||
| Q4 24 | 88.9% | 7.1% | ||
| Q3 24 | 19.6% | 0.2% | ||
| Q2 24 | 14.6% | 0.8% | ||
| Q1 24 | 28.1% | 0.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FSP
Segment breakdown not available.
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
