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Franklin BSP Realty Trust cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$89.7M in Q3 2026 · $217M over twelve months

Operating cash flow−$89.7M
Free cash flow−$89.7M

Analysis

In Q3 2026, Franklin BSP Realty Trust generated −$89.7M of operating cash flow. That is $58.4M more than in Q3 2025 (−$148M).

Over the twelve months to Sep 30, 2026, operating cash flow was $217M; the largest uses were other financing ($250M), buybacks ($131M), dividends ($115M); besides operations, cash came from other investing ($292M); the cash balance fell by $24.3M.

Operating cash flow was −$89.7M against net income of −$27.0M. The largest differences: prepaid and other assets −$7.6M, payables +$5.2M, other liabilities −$4.0M.

Free cash flow

Franklin BSP Realty Trust: free cash flow by quarterFranklin BSP Realty Trust: free cash flow by quarter−$55.1MQ4 2024$116MQ1 2025$11.8MQ2 2025−$148MQ3 2025$312MQ4 2025−$54.0MQ1 2026$48.3MQ2 2026−$89.7MQ3 2026
Operating cash flow less capital spending.
Franklin BSP Realty Trust: operating cash flow against capital spendingFranklin BSP Realty Trust: operating cash flow against capital spendingOperating cash flowCapital spending−$55.1M$0Q4 2024$116M$0Q1 2025$11.8M$0Q2 2025−$148M$0Q3 2025$312M$0Q4 2025−$54.0M$0Q1 2026$48.3M$0Q2 2026−$89.7M$0Q3 2026
Latest (Q3 2026): Operating cash flow −$89.7M, Capital spending $0.

Capital allocation, year by year

Franklin BSP Realty Trust: where the cash came from (up) and went (down), by fiscal yearFranklin BSP Realty Trust: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAcquisitionsBuybacksDividendsFY2021: Operating cash flow $146MFY2021: Net borrowing $50.0MFY2021: Shares issued $15.0MFY2021: Buybacks −$11.4MFY2021: Dividends −$68.0M$211MFY2021FY2022: Operating cash flow $153MFY2022: Net borrowing −$50.0MFY2022: Buybacks −$16.6MFY2022: Dividends −$139M$153MFY2022FY2023: Operating cash flow $197MFY2023: Net borrowing −$13.4MFY2023: Buybacks −$12.5MFY2023: Dividends −$144M$197MFY2023FY2024: Operating cash flow $57.2MFY2024: Buybacks −$4.9MFY2024: Dividends −$145M$57.2MFY2024FY2025: Operating cash flow $292MFY2025: Net borrowing $107MFY2025: Acquisitions −$297MFY2025: Buybacks −$14.4MFY2025: Dividends −$146M$399MFY2025
Over these 5 years operating cash flow totalled $846M; the largest uses were dividends ($642M) and acquisitions ($297M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$101M
Debtnone
Net cash$101M
Cash runway3 months

Franklin BSP Realty Trust is burning cash: its operations consume cash, a free cash flow of −$359M a year at the current rate against $101M of cash and investments: a runway of about 3 months before any new financing.

Where the cash came from and went

Franklin BSP Realty Trust: sources (+) and uses (−) of cash, Q3 2026Franklin BSP Realty Trust: sources (+) and uses (−) of cash, Q3 2026Other investing$373MOther financing−$147MOperating cash flow−$89.7MNet borrowing (+) / repaid (−)−$88.3MBuybacks−$60.5MCash drawn (+) / kept (−)$35.4MDividends−$21.3MPartners−$1.7M
Franklin BSP Realty Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Franklin BSP Realty Trust: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$292MOther financing−$250MOperating cash flow$217MBuybacks−$131MDividends−$115MCash drawn (+) / kept (−)$24.3MNet borrowing (+) / repaid (−)−$23.1MPartners−$11.5MTaxes on employees’ shares−$2.2M

From profit to cash

Franklin BSP Realty Trust: net income to operating cash flow, Q3 2026Franklin BSP Realty Trust: net income to operating cash flow, Q3 2026Net income−$27.0MDepreciation & amortization$2.2MStock-based pay$1.2MPayables$5.2MPrepaid and other assets−$7.6MOther liabilities−$4.0MOperating cash flow−$89.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026−$89.7M−$60.5M−$21.3M−$88.3M$35.4M−$89.7M
Q2 2026$48.3M−$16.0M−$21.6M−$468M−$18.6M$48.3M
Q1 2026−$54.0M−$39.8M−$36.0M−$99.8M$48.7M−$54.0M
Q4 2025$312M−$14.4M−$36.4M—−$41.3M$312M
Q3 2025−$148M—−$36.5M−$232M$279M−$148M
Q2 2025$11.8M—−$36.4M−$186M−$199M$11.8M
Q1 2025$116M—−$36.2M−$404M−$27.2M$116M
Q4 2024−$55.1M—−$36.2M—$157M−$55.1M

Franklin BSP Realty Trust: income statement and cash flow

Franklin BSP Realty Trust, Q3 2026: revenue $74.9M (-16% year over year), operating margin -46.8%. The chart follows the revenue to costs, profit and cash.

Franklin BSP Realty Trust: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.