Franklin BSP Real Estate Debt BDC
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Financials
SEC XBRL · annual| FY24 | |
|---|---|
| Revenue | — |
| Operating income | — |
| Net income | $22.1M |
| Total assets | $876.2M |
| Total liabilities | $517.3M |
| Equity | $0 |
| EPS (diluted) | $2.97 |
| Shares out. | 13.6M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2024- Operating margin
- —
- Net margin
- —
- Return on equity
- —
- Return on assets
- 2.5%
- Return on capital (ROCE)
- —
- Liabilities / assets
- 59.0%
- Debt / equity
- —
- Book value / share
- $0.00
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2024- Accruals / assets
- 96.2%high accruals
- Piotroski F-Score
- 1/3weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast. What these scores mean →
Signs
● 2 warning● 0 good- Negative operating cash flow
- High accruals — earnings-quality risk
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Treasurer Of The State Of North CarolinaActivist (13D)Sep 16, 2025
- Franklin Resources IncActivist (13D)Sep 12, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Material events
SEC Form 8-K · most recent- Entered a material agreement · New financial obligationSep 25, 2025
- Change in controlSep 12, 2025
- Unregistered equity saleApr 24, 2025
- Entered a material agreement · New financial obligationMar 19, 2025
- Unregistered equity sale · Amended charter or bylawsJan 17, 2025
- Unregistered equity saleNov 15, 2024
- Unregistered equity saleAug 12, 2024
- Unregistered equity saleJul 16, 2024
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- 15-12GOct 20, 2025
- N-54COct 20, 2025
- 8-KSep 25, 2025
- N-23C-2Sep 18, 2025
- 3PRIMARY DOCUMENTSep 16, 2025
- SCHEDULE 13DSep 16, 2025
- SCHEDULE 13D/ASep 12, 2025
- 8-KSep 12, 2025
- 10-QAug 12, 2025
- 10-QMay 9, 2025
- 40-APP/AApr 29, 2025
- 8-KApr 24, 2025
- 40-APP/AApr 24, 2025
- SCHEDULE 13D/AApr 16, 2025
- 40-APPApr 11, 2025
Event-driven situations (1)
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