# Brandywine Realty Trust: overview

BDN · NYSE · CIK 790816 · [Real estate](/sectors/real-estate.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/bdn.md) · [Financials](/companies/bdn/financials.md) · [Filings](/companies/bdn/filings.md) · [Insiders](/companies/bdn/insiders.md)

Latest reported revenue: [$125.6m](/filings/0000790816-26-000045.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 29, 2026 (XBRL us-gaap:Revenues, accession 0000790816-26-000045).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | period not labelled (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [122 d](/filings/0000790816-26-000008.md) | [122](/filings/0000790816-26-000017.md) | [121](/filings/0000790816-25-000034.md) | [121](/filings/0000790816-26-000045.md) | [121 d](/filings/0000790816-26-000008.md) | [127](/filings/0000790816-26-000017.md) | not reported | [126](/filings/0000790816-26-000045.md) |
| Gross margin | % | [61.2% d](/filings/0000790816-26-000008.md) | [60.8%](/filings/0000790816-26-000017.md) | [62.4%](/filings/0000790816-25-000034.md) | [62.6%](/filings/0000790816-26-000045.md) | [61.3% d](/filings/0000790816-26-000008.md) | [59.0%](/filings/0000790816-26-000017.md) | not reported | [58.5%](/filings/0000790816-26-000045.md) |
| Operating margin | % | [18.0% d](/filings/0000790816-26-000008.md) | [12.5%](/filings/0000790816-26-000017.md) | [(34.3%)](/filings/0000790816-25-000034.md) | [20.8%](/filings/0000790816-26-000045.md) | [22.8% d](/filings/0000790816-26-000008.md) | [1.2%](/filings/0000790816-26-000017.md) | not reported | [37.5%](/filings/0000790816-26-000045.md) |
| Net margin | % | [(36.5%) d](/filings/0000790816-26-000008.md) | [(22.2%)](/filings/0000790816-26-000017.md) | [(73.5%)](/filings/0000790816-25-000034.md) | [(21.3%)](/filings/0000790816-26-000045.md) | [(30.3%) d](/filings/0000790816-26-000008.md) | [(38.3%)](/filings/0000790816-26-000017.md) | not reported | [(17.5%)](/filings/0000790816-26-000045.md) |
| Diluted EPS | $ per share | not reported | [(0.16)](/filings/0000790816-26-000017.md) | [(0.51)](/filings/0000790816-25-000034.md) | [(0.15)](/filings/0000790816-26-000045.md) | not reported | [(0.28)](/filings/0000790816-26-000017.md) | not reported | [(0.13)](/filings/0000790816-26-000045.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues; Net income: us-gaap:ProfitLoss. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [487](/filings/0000790816-24-000014.md) | [506](/filings/0000790816-25-000009.md) | [515](/filings/0000790816-26-000008.md) | [506](/filings/0000790816-26-000008.md) | [484](/filings/0000790816-26-000008.md) |
| Gross margin | % | [61.3%](/filings/0000790816-24-000014.md) | [61.6%](/filings/0000790816-25-000009.md) | [63.1%](/filings/0000790816-26-000008.md) | [62.9%](/filings/0000790816-26-000008.md) | [61.8%](/filings/0000790816-26-000008.md) |
| Operating margin | % | [19.2%](/filings/0000790816-24-000014.md) | [23.7%](/filings/0000790816-25-000009.md) | [(4.2%)](/filings/0000790816-26-000008.md) | [10.9%](/filings/0000790816-26-000008.md) | [5.5%](/filings/0000790816-26-000008.md) |
| Net margin | % | [2.5%](/filings/0000790816-24-000014.md) | [10.6%](/filings/0000790816-25-000009.md) | [(38.2%)](/filings/0000790816-26-000008.md) | [(38.8%)](/filings/0000790816-26-000008.md) | [(36.8%)](/filings/0000790816-26-000008.md) |
| Diluted EPS | $ per share | [0.07](/filings/0000790816-24-000014.md) | [0.31](/filings/0000790816-25-000009.md) | [(1.15)](/filings/0000790816-26-000008.md) | [(1.14)](/filings/0000790816-26-000008.md) | [(1.03)](/filings/0000790816-26-000008.md) |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/bdn/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $81.6m | 25,755,775 |  | Added +3,713,889 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $27.4m | 8,646,416 |  | Reduced −85,866 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $23.4m | 7,384,527 |  | Reduced −12,111 |
| [MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.](/funds/1705339.md) | 2026-06-30 | $21.5m | 6,772,580 |  | Added +202,434 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $18.2m | 5,745,458 |  | Added +214,990 |
| [GOLDMAN SACHS GROUP INC](/funds/886982.md) | 2026-06-30 | $17.2m | 5,438,475 |  | Added +918,971 |
| [AQR CAPITAL MANAGEMENT LLC](/funds/1167557.md) | 2026-06-30 | $17.1m | 5,398,887 |  | Added +1,914,175 |
| [CHARLES SCHWAB INVESTMENT MANAGEMENT INC](/funds/884546.md) | 2026-06-30 | $16.2m | 5,116,320 |  | Reduced −412,029 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $15.8m | 4,972,587 |  | Added +248,465 |
| [AMERIPRISE FINANCIAL INC](/funds/820027.md) | 2026-06-30 | $13.3m | 4,185,954 |  | Added +583,418 |

## Recent filings

[All 1,242 filings](/companies/bdn/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-29 | 15:21 ET | [10-Q](/filings/0000790816-26-000045.md) | Quarterly report, period 2026-09-30 | 0000790816-26-000045 |
| 2026-10-22 | 12:05 ET | [8-K](/filings/0000790816-26-000041.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000790816-26-000041 |
| 2026-10-06 | 15:21 ET | [8-K](/filings/0000790816-26-000038.md) | 2.01 Completion of an acquisition or disposition; 9.01 Financial statements and exhibits | 0000790816-26-000038 |
| 2026-09-17 | 11:12 ET | [8-K](/filings/0000790816-26-000035.md) | 5.02 Departure or appointment of officers or directors | 0000790816-26-000035 |
| 2026-09-03 | 10:00 ET | [8-K](/filings/0000790816-26-000033.md) | 8.01 Other events | 0000790816-26-000033 |
| 2026-08-17 | 07:56 ET | [8-K](/filings/0001193125-26-353237.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001193125-26-353237 |
| 2026-07-28 | 15:55 ET | [10-Q](/filings/0000790816-26-000029.md) | Quarterly report, period 2026-06-30 | 0000790816-26-000029 |
| 2026-07-23 | 15:44 ET | [8-K](/filings/0000790816-26-000025.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0000790816-26-000025 |
| 2026-07-10 | 15:17 ET | [8-K](/filings/0000790816-26-000022.md) | 2.01 Completion of an acquisition or disposition; 9.01 Financial statements and exhibits | 0000790816-26-000022 |
| 2026-06-01 | 16:30 ET | [8-K](/filings/0000790816-26-000019.md) | 1.01 Entry into a material agreement; 2.03 New direct financial obligation; 5.02 Departure or appointment of officers or directors; 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0000790816-26-000019 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0000790816-26-000008.md), filed Feb 23, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 790816
- Tickers: BDN
- Exchange: NYSE
- SIC code: 6798 Real Estate Investment Trusts
- State of incorporation: MD
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 13:40 ET. No prices; not investment advice.