BrightSpire Capital, Inc. (BRSP) stock analysis
Close on Nov 11, 2026Market cap $400.21MP/E 24.7Yield 19.94%
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed9 of 30 checks passed
BrightSpire Capital passes 9 of the 30 checks behind our score; 13 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 5/6
- Growth
- 0/6
- Past performance
- 1/6
- Financial health
- 0/6
- Dividend
- 3/6
What stands out
Margin of safety over 20%
The price is 33.9% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $3.21 is below our fair value estimate of $4.86.
P/E below the industry
BrightSpire Capital's P/E of 24.7 is below the Miscellaneous Investing median of 26.3.
EV/EBITDA below its 5-year median
BrightSpire Capital's EV/EBITDA of 5.3 is below its 5-year median of 6.4.
What to watch
Return on equity under 15%
Return on equity was 2.1% over the last twelve months and averaged -3.8% over five years; we look for 15% on both.
Revenue growing under 10% a year
Revenue grew -3.2% a year over the last three fiscal years, short of the 10% we look for.
Elevated bankruptcy risk
The Altman Z-score is -0.57; above 3 is the safe zone and below 1.8 the distress zone.
Not covered by earnings
Dividends take 438% of net income, leaving little room.
Valuation5/6
P/E against its history
Not enough price and earnings history to compare.
P/E below the industry
BrightSpire Capital's P/E of 24.7 is below the Miscellaneous Investing median of 26.3.
EV/EBITDA below its 5-year median
BrightSpire Capital's EV/EBITDA of 5.3 is below its 5-year median of 6.4.
P/B below the industry
BrightSpire Capital's price-to-book of 0.45 is below the Miscellaneous Investing median of 1.20.
Trading below fair value
The share price of $3.21 is below our fair value estimate of $4.86.
Margin of safety over 20%
The price is 33.9% below fair value, more than the 20% cushion we look for.
Growth0/6
Revenue growing under 10% a year
Revenue grew -3.2% a year over the last three fiscal years, short of the 10% we look for.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing slower than the industry
Revenue grew 2.5% over the last twelve months; the Miscellaneous Investing median is 4.6%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin trend
This company does not report gross profit.
Past performance1/6
Return on equity under 15%
Return on equity was 2.1% over the last twelve months and averaged -3.8% over five years; we look for 15% on both.
Return on invested capital
Needs operating income and invested capital.
Return on equity below the industry
BrightSpire Capital's return on equity of 2.1% is below the Miscellaneous Investing median of 3.1%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 5.6% over the last twelve months, against a 5-year average of -17.9%.
Net margin below the industry
BrightSpire Capital's net margin of 5.6% is below the Miscellaneous Investing median of 10.3%.
Financial health0/6
Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest coverage
Interest expense is not reported separately.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Elevated bankruptcy risk
The Altman Z-score is -0.57; above 3 is the safe zone and below 1.8 the distress zone.
Dividend3/6
Pays a dividend
BrightSpire Capital paid dividends worth 19.9% of the share price over the last twelve months.
Yield above Treasuries
The 19.9% yield is above the 4.4% on a 1-year Treasury.
Yield in the top quarter
The top quarter of US dividend payers yield 3.8% or more; BrightSpire Capital yields 19.9%.
Dividend was cut
The dividend per share fell by more than 10% at least once in the last 8 fiscal years.
Not covered by earnings
Dividends take 438% of net income, leaving little room.
Cash-flow cover
Needs dividends paid and free cash flow.
Fair value
How we estimate itOur estimate per share
$4.86
The share price is 34% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 26.3× | – | 26.3× | $3.42 | 40% |
| EV/EBITDA | 7.9× | 6.4× | 9.5× | $4.57 | 35% |
| P/B | 0.9× | 0.7× | 1.2× | $6.64 | 10% |
| Earnings power | 10.3% cost of equity | – | – | $8.17 | 15% |
| Fair value | $4.86 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Miscellaneous Investing median 26.3
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Medium risk
- Average value traded per day
- $7.26M
- Value traded per 1% price move
- $3.94M
Downside
Medium risk
- Typical loss in a bad month
- 17.0%
- Volatility (annualized)
- 26%
- Sharpe ratio, 1 year
- -1.75
- Beta to the S&P 500 (5Y)
- 1.08
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2015 to 2025
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -7.9% | -3.2% | +2.6% | – | |
| Dividend per share | -11.1% | -6.8% | +16.4% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -18.7% | -3.1% | |
| Return on assets | – | -5.2% | -0.9% | |
| Diluted shares | 44M | 129M | 127M |
Cash use needs five years of cash flow figures
BrightSpire Capital does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -9.4% | 0.09× | 3.67× | -3.1% |
| FY2024 | -36.8% | 0.09× | 3.41× | -11.4% |
| FY2023 | -3.7% | 0.09× | 3.36× | -1.2% |
| FY2022 | 12.6% | 0.07× | 3.65× | 3.2% |
| FY2021 | -52.0% | 0.03× | 3.80× | -6.5% |
| FY2020 | -121.4% | 0.04× | 3.60× | -18.7% |
| FY2019 | -70.4% | 0.07× | 3.33× | -17.2% |
| FY2018 | -33.6% | 0.10× | 2.77× | -8.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero-$31.15M
- Cash generatingOperating cash flow above zero$73.03M
- Return on assets improvedROA up on the prior year-3.1% → -0.8%
- Earnings backed by cashOperating cash flow above net income$73.03M vs -$31.15M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise127M → 127M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.09 → 0.09
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