SAUL CENTERS, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $289.8M | $268.8M | $257.2M | $245.9M | $239.2M | $225.2M | $231.5M | $227.2M |
| Cost of Revenue | — | — | $67.1M | $64.5M | $61.6M | $58.4M | $57.9M | $55.6M |
| Gross Profit | — | — | $190.1M | $181.3M | $177.6M | $166.8M | $173.6M | $171.6M |
| Gross Margin | — | — | 73.9% | 73.8% | 74.2% | 74.1% | 75.0% | 75.5% |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $26.9M | $25.1M | $23.5M | $22.4M | $20.3M | $19.1M | $20.8M | $18.5M |
| Operating Income | $195.3M | $203.8M | $189.4M | $180.5M | $61.6M | $50.0M | $64.6M | $62.6M |
| Operating Margin | 67.4% | 75.8% | 73.6% | 73.4% | 25.8% | 22.2% | 27.9% | 27.5% |
| Interest Expense | $70.7M | $53.9M | $49.4M | $44.0M | $45.4M | $46.7M | $42.1M | $45.0M |
| Pretax Income | — | — | — | — | — | — | — | — |
| Income Tax Expense | — | — | — | — | — | — | — | — |
| Net Income | $37.5M | $50.6M | $52.7M | $50.2M | $48.4M | $40.4M | $51.7M | $50.6M |
| Net Margin | 12.9% | 18.8% | 20.5% | 20.4% | 20.2% | 17.9% | 22.3% | 22.2% |
| EPS (Basic) | $1.09 | $1.64 | $1.73 | $1.63 | $1.57 | $1.25 | $1.58 | $1.61 |
| EPS (Diluted) | $1.09 | $1.63 | $1.73 | $1.63 | $1.57 | $1.25 | $1.57 | $1.60 |
| Shares Outstanding (Basic) | 24.2M | 24.1M | 24.1M | 24.0M | 23.7M | 23.4M | 23.0M | 22.4M |
| Shares Outstanding (Diluted) | 24.2M | 24.1M | 24.1M | 24.0M | 23.7M | 23.4M | 23.1M | 22.4M |
| Dividends Per Share | $2.36 | $2.36 | $0.59 | $2.32 | $2.16 | $2.12 | $2.12 | $2.08 |