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Side-by-side financial comparison of FRANKLIN STREET PROPERTIES CORP (FSP) and Zeo Energy Corp. (ZEO). Click either name above to swap in a different company.
FRANKLIN STREET PROPERTIES CORP is the larger business by last-quarter revenue ($26.0M vs $18.6M, roughly 1.4× Zeo Energy Corp.). Zeo Energy Corp. runs the higher net margin — -10.8% vs -28.1%, a 17.3% gap on every dollar of revenue. On growth, Zeo Energy Corp. posted the faster year-over-year revenue change (-0.4% vs -8.2%). Zeo Energy Corp. produced more free cash flow last quarter ($2.3M vs $-12.7M). Over the past eight quarters, Zeo Energy Corp.'s revenue compounded faster (-4.0% 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.
FSP vs ZEO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.0M | $18.6M |
| Net Profit | $-7.3M | $-2.0M |
| Gross Margin | 59.4% | — |
| Operating Margin | -27.9% | -11.8% |
| Net Margin | -28.1% | -10.8% |
| Revenue YoY | -8.2% | -0.4% |
| Net Profit YoY | 14.1% | -360.9% |
| EPS (diluted) | $-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 | $26.0M | $18.6M | ||
| Q3 25 | $27.3M | $23.9M | ||
| Q2 25 | $26.7M | $18.1M | ||
| Q1 25 | $27.1M | $8.8M | ||
| Q4 24 | $28.4M | $18.6M | ||
| Q3 24 | $29.7M | $19.7M | ||
| Q2 24 | $30.8M | $14.8M | ||
| Q1 24 | $31.2M | $20.1M |
| Q4 25 | $-7.3M | $-2.0M | ||
| Q3 25 | $-8.3M | $-3.2M | ||
| Q2 25 | $-7.9M | $-2.4M | ||
| Q1 25 | $-21.4M | $-6.4M | ||
| Q4 24 | $-8.5M | $-435.3K | ||
| Q3 24 | $-15.6M | $-424.3K | ||
| Q2 24 | $-21.0M | $-277.8K | ||
| Q1 24 | $-7.6M | $-1.5M |
| Q4 25 | 59.4% | — | ||
| Q3 25 | 60.9% | 57.9% | ||
| Q2 25 | 59.9% | 59.8% | ||
| Q1 25 | 62.8% | 99.3% | ||
| Q4 24 | 59.7% | — | ||
| Q3 24 | 61.0% | 50.2% | ||
| Q2 24 | 64.2% | 52.3% | ||
| Q1 24 | 64.7% | — |
| Q4 25 | -27.9% | -11.8% | ||
| Q3 25 | -30.5% | -8.3% | ||
| Q2 25 | -29.2% | -15.8% | ||
| Q1 25 | -78.9% | -153.8% | ||
| Q4 24 | -29.9% | -6.0% | ||
| Q3 24 | -52.4% | -15.2% | ||
| Q2 24 | -68.0% | -18.0% | ||
| Q1 24 | -24.0% | -20.1% |
| Q4 25 | -28.1% | -10.8% | ||
| Q3 25 | -30.5% | -13.5% | ||
| Q2 25 | -29.5% | -13.3% | ||
| Q1 25 | -79.1% | -72.4% | ||
| Q4 24 | -30.0% | -2.3% | ||
| Q3 24 | -52.6% | -2.2% | ||
| Q2 24 | -68.2% | -1.9% | ||
| Q1 24 | -24.2% | -7.6% |
| Q4 25 | $-0.06 | — | ||
| Q3 25 | $-0.08 | — | ||
| Q2 25 | $-0.08 | — | ||
| Q1 25 | $-0.21 | $-0.48 | ||
| Q4 24 | $-0.09 | $1.11 | ||
| Q3 24 | $-0.15 | $-0.08 | ||
| Q2 24 | $-0.20 | $0.03 | ||
| Q1 24 | $-0.07 | $-1.54 |
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 | $6.1M |
| Total DebtLower is stronger | — | $79.1K |
| Stockholders' EquityBook value | $607.0M | $5.3M |
| Total Assets | $892.9M | $56.9M |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.6M | $6.1M | ||
| Q3 25 | $31.4M | $3.9M | ||
| Q2 25 | $29.4M | $68.7K | ||
| Q1 25 | $30.2M | $2.9M | ||
| Q4 24 | $41.1M | $5.6M | ||
| Q3 24 | $40.9M | $4.3M | ||
| Q2 24 | $30.2M | $5.3M | ||
| Q1 24 | $34.2M | — |
| Q4 25 | — | $79.1K | ||
| Q3 25 | — | $84.6K | ||
| Q2 25 | — | $642.8K | ||
| Q1 25 | — | $715.4K | ||
| Q4 24 | — | $787.7K | ||
| Q3 24 | — | $858.6K | ||
| Q2 24 | — | $1.6M | ||
| Q1 24 | — | $748.8K |
| Q4 25 | $607.0M | $5.3M | ||
| Q3 25 | $615.3M | $-1.7M | ||
| Q2 25 | $624.7M | $-59.4M | ||
| Q1 25 | $633.4M | $-23.1M | ||
| Q4 24 | $655.9M | $-88.9M | ||
| Q3 24 | $665.4M | $-39.3M | ||
| Q2 24 | $682.1M | $-53.0M | ||
| Q1 24 | $703.9M | $-173.0M |
| Q4 25 | $892.9M | $56.9M | ||
| Q3 25 | $901.0M | $58.5M | ||
| Q2 25 | $903.2M | $46.2M | ||
| Q1 25 | $916.4M | $47.4M | ||
| Q4 24 | $946.9M | $61.0M | ||
| Q3 24 | $981.5M | $47.1M | ||
| Q2 24 | $1.0B | $49.1M | ||
| Q1 24 | $1.0B | $50.1M |
| Q4 25 | — | 0.01× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.8M | $2.4M |
| Free Cash FlowOCF − Capex | $-12.7M | $2.3M |
| FCF MarginFCF / Revenue | -48.6% | 12.2% |
| Capex IntensityCapex / Revenue | 63.0% | 0.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-25.3M | $-9.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8M | $2.4M | ||
| Q3 25 | $8.3M | $-6.6M | ||
| Q2 25 | $-2.9M | $-2.3M | ||
| Q1 25 | $-5.5M | $-2.3M | ||
| Q4 24 | $9.0M | $3.5M | ||
| Q3 24 | $14.5M | $162.2K | ||
| Q2 24 | $-648.0K | $-2.2M | ||
| Q1 24 | $-7.1M | $-10.2M |
| Q4 25 | $-12.7M | $2.3M | ||
| Q3 25 | $3.0M | $-6.8M | ||
| Q2 25 | $-5.7M | $-2.7M | ||
| Q1 25 | $-9.9M | $-2.6M | ||
| Q4 24 | $-16.2M | $3.4M | ||
| Q3 24 | $8.6M | $116.5K | ||
| Q2 24 | $-5.1M | $-2.3M | ||
| Q1 24 | $-15.8M | $-10.4M |
| Q4 25 | -48.6% | 12.2% | ||
| Q3 25 | 11.0% | -28.6% | ||
| Q2 25 | -21.5% | -15.0% | ||
| Q1 25 | -36.7% | -30.0% | ||
| Q4 24 | -57.2% | 18.2% | ||
| Q3 24 | 29.1% | 0.6% | ||
| Q2 24 | -16.7% | -15.6% | ||
| Q1 24 | -50.8% | -51.5% |
| Q4 25 | 63.0% | 0.9% | ||
| Q3 25 | 19.4% | 1.0% | ||
| Q2 25 | 10.7% | 2.4% | ||
| Q1 25 | 16.4% | 4.2% | ||
| Q4 24 | 88.9% | 0.5% | ||
| Q3 24 | 19.6% | 0.2% | ||
| Q2 24 | 14.6% | 0.7% | ||
| Q1 24 | 28.1% | 1.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FSP
Segment breakdown not available.
ZEO
| Nonrelated Party | $18.1M | 98% |
| Related Party | $432.1K | 2% |
