Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $479M | $543M | $644M | $648M | $603M | $634M | $606M | $604M | $547M | $499M |
| Revenue growth | — | 13.5% | 18.6% | 0.6% | -7.0% | 5.2% | -4.5% | -0.3% | -9.4% | -8.9% |
| Operating income | $113M | -$52.2M | — | — | — | — | — | — | — | — |
| Operating margin | 23.6% | -9.6% | — | — | — | — | — | — | — | — |
| Net income | $62.0M | -$71.8M | $39.9M | $65.6M | -$62.3M | -$79.3M | $85.4M | -$80.0M | -$144M | -$139M |
| Net margin | 13.0% | -13.2% | 6.2% | 10.1% | -10.3% | -12.5% | 14.1% | -13.2% | -26.2% | -27.9% |
| EPS (diluted) | $0.62 | -$0.70 | $0.31 | $0.48 | -$0.49 | -$0.63 | $0.70 | -$0.78 | -$1.65 | -$2.09 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $160M | $74.2M | $188M | $174M | $169M | $218M | $178M | $183M | $129M | $73.3M |
| Share buybacks | — | — | — | — | $105M | $158M | $361M | $335M | $171M | $444M |
| Dividends paid | $0.00 | $26.5M | $107M | $130M | $120M | $118M | $108M | $94.0M | $62.0M | $48.4M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $29.0M | $317M | $261M | $126M | $226M | $264M | $241M | $165M | $146M | $75.3M |
| Total assets | $3.66B | $6.07B | $6.00B | $5.99B | $6.08B | $6.39B | $5.90B | $5.52B | $5.02B | $4.39B |
| Total liabilities | $1.54B | $2.49B | $2.45B | $1.99B | $2.34B | $2.93B | $2.71B | $2.83B | $2.79B | $2.72B |
| Shareholders' equity | $2.12B | $2.97B | $2.99B | $3.39B | $3.21B | $2.94B | $2.71B | $2.25B | $1.81B | $1.16B |
| Retained earnings | — | -$95.8M | -$176M | -$231M | -$413M | -$609M | -$629M | -$777M | -$997M | -$1.18B |
| Shares (wtd avg diluted) | 101M | 105M | 119M | 131M | 133M | 131M | 119M | 105M | 88.3M | 67.4M |
Every figure is extracted from JBG SMITH Properties’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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