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JBG SMITH Properties (JBGS) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

REAL ESTATE · REIT - DIVERSIFIED · DATA UPDATED 2026-09-18

JBG SMITH Properties (JBGS) operates in the REIT - DIVERSIFIED industry and is headquartered in Bethesda, United States with about 596 employees. Its market capitalization is roughly $867 million. In the fiscal year ended 2025-12-31, JBGS reported $499M in revenue and ($139M) in net income.

JBG SMITH Properties owns, operates, and develops mixed-use properties concentrated in amenity-rich, Metro-served submarkets in and around Washington, DC, most notably National Landing, where through our focus on placemaking, we cultivate vibrant, highly amenitized, walkable neighborhoods.

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JBGS Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31
Total Revenue	$508M	$499M	$547M	$604M	$606M	$634M	$603M	$646M	$644M	$543M	$479M	$471M	$473M	$476M
Gross Profit	$103M	($72M)	$274M	$314M	$299M	$306M	$271M	$325M	$335M	$314M	$305M	$295M	$302M	$309M
Gross Margin %	20.3%	-14.5%	50.0%	51.9%	49.4%	48.2%	45.0%	50.2%	52.0%	57.8%	63.7%	62.7%	63.8%	64.8%
Operating Income (EBIT)	$1M	($6M)	$6M	$48M	$22M	($1M)	($38M)	$236M	$54M	($52M)	$113M	$103M	$139M	$150M
Operating Margin %	0.3%	-1.3%	1.1%	7.9%	3.6%	-0.1%	-6.2%	36.5%	8.4%	-9.6%	23.6%	21.8%	29.3%	31.4%
Net Income	($152M)	($139M)	($144M)	($80M)	$85M	($79M)	($62M)	$66M	$40M	($72M)	$62M	$46M	$81M	$89M
Net Margin %	-29.9%	-27.9%	-26.2%	-13.2%	14.1%	-12.5%	-10.3%	10.1%	6.2%	-13.2%	13.0%	9.8%	17.2%	18.6%
EBITDA	$134M	$170M	$214M	$215M	$397M	$218M	$214M	$235M	$332M	$132M	$248M	$248M	$251M	$251M
Earnings Per Share (EPS)	$-2.57	$-2.06	$-1.62	$-0.76	$0.72	$-0.61	$-0.47	$0.50	$0.34	$-0.68	$0.52	$0.39	$0.69	$0.75
Shares Outstanding (M)	58M	67M	88M	105M	119M	131M	133M	131M	119M	105M	118M	118M	118M	118M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

JBGS Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Total Revenue	$129M	$128M	$128M	$124M	$126M	$121M	$131M	$136M
Gross Profit	($8M)	($11M)	$62M	$61M	$65M	$59M	$65M	$69M
Gross Margin %	-6.6%	-8.8%	48.7%	49.2%	51.7%	48.9%	49.8%	50.6%
Operating Income (EBIT)	$8M	($8M)	$2M	$0M	$1M	($4M)	$0M	$7M
Operating Margin %	6.3%	-6.2%	1.3%	-0.3%	0.9%	-3.4%	0.2%	5.1%
Net Income	($59M)	($19M)	($46M)	($29M)	($19M)	($46M)	($60M)	($27M)
Net Margin %	-45.7%	-14.6%	-35.7%	-23.1%	-15.2%	-37.9%	-45.8%	-19.8%
EBITDA	$8M	$57M	$21M	$47M	$58M	$27M	$13M	$53M
Earnings Per Share (EPS)	$-1.01	$-0.32	$-0.77	$-0.47	$-0.28	$-0.56	$-0.71	$-0.32
Shares Outstanding (M)	58M	59M	59M	61M	68M	82M	84M	85M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

JBGS Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31
Cash from Operations (CFO)	$64M	$73M	$129M	$183M	$178M	$218M	$169M	$174M	$188M	$74M	$160M	$179M	$187M	$178M
Capital Expenditures (CapEx)	$106M	$122M	$218M	$334M	$327M	$173M	$307M	$441M	$4M	$211M	$238M	$167M	$15M	$0M
Free Cash Flow (FCF)	($42M)	($49M)	($89M)	($150M)	($149M)	$44M	($138M)	($267M)	$184M	($136M)	($78M)	$12M	$172M	$178M
FCF Margin %	-8.2%	-9.8%	-16.2%	-24.9%	-24.6%	7.0%	-23.0%	-41.3%	28.6%	-25.1%	-16.4%	2.6%	36.4%	37.4%
Dividends Paid	$42M	$48M	$62M	$94M	$108M	$118M	$120M	$130M	$107M	$27M	$4M	$4M	$63M	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

JBGS Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30
Cash from Operations (CFO)	$20M	$3M	$32M	$9M	$19M	$13M	$42M	$26M
Capital Expenditures (CapEx)	$20M	$23M	$33M	$30M	$33M	$29M	$46M	$59M
Free Cash Flow (FCF)	$0M	($20M)	($1M)	($21M)	($15M)	($16M)	($4M)	($32M)
FCF Margin %	-0.1%	-15.5%	-0.7%	-16.9%	-11.5%	-13.4%	-2.9%	-23.7%
Dividends Paid	$10M	$10M	$10M	$11M	$12M	$15M	$15M	$15M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

JBGS Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31
Total Assets	$4.3B	$4.4B	$5.0B	$5.5B	$5.9B	$6.4B	$6.1B	$6.0B	$6.0B	$6.1B	$3.7B	$3.6B	$3.4B
Cash & Cash Equivalents	$75M	$75M	$146M	$165M	$241M	$264M	$226M	$126M	$261M	$317M	$29M	$75M	$12M
Total Liabilities	$2.7B	$2.7B	$2.8B	$2.8B	$2.7B	$2.9B	$2.3B	$2.0B	$2.5B	$2.5B	$1.5B	$1.5B	$1.4B
Total Debt (Short + Long-Term)	$2.5B	$2.5B	$2.6B	$2.6B	$2.7B	$2.5B	$2.1B	$1.8B	$2.1B	$2.3B	$2.6B	$2.8B	$0M
Total Shareholders' Equity	$1.1B	$1.2B	$1.8B	$2.2B	$3.2B	$2.9B	$3.7B	$4.0B	$3.0B	$3.6B	$2.1B	$2.1B	$2.0B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive JBGS viewer.

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