Company Analysis

BrightSpire Capital, Inc. (BRSP)

NYSE: BRSP · Real Estate Investment Trusts · New York, NY · filing with the SEC since 2017
Grade3.6
◀ Past 4.1● Present 3.7▶ Future 2.9

The grade of BrightSpire Capital, Inc.

Nine metrics read from its own filings, by tense
Headline grade
3.6/10
◀ Past4.125% of the headline
● Present3.745% of the headline
▶ Future2.930% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

4.1/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed
3.0/10

Has it survived what it has been through?

1 warning event since 2017; the latest 2025-02-27.

weight 45% of this tense · 30th percentile among 174 sector filers · read for itself

From the record

BrightSpire Capital, Inc.'s filings since 2017 show 1 warning event: an auditor change (8-K item 4.01, the latest 2025-02-27) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.6/10

What has it actually done, year after year?

+8.5% a year over 10 filed years; profitable in 3 of 10.

weight 33% of this tense · 26th percentile among 156 sector filers · read for its customers

From the record

BrightSpire Capital, Inc.'s 10 filed years say what it did: revenue went from $158 million in fiscal 2016 to $331 million in fiscal 2025, up 8.5% a year; it rose in 5 of 9 years; the deepest fall was 67% from fiscal 2019 to fiscal 2021; net income was positive in 3 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span8.5%top 38% of its family
  • the share of years revenue rosebottom 19% of its family
  • the share of filed years with a profitbottom 10% of its family
  • the deepest fall from a revenue peak67.0%bottom 13% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
8.5/10

How has it treated the people who own it?

Share count shrank 0.6% a year. 97% of cash flow returned. Insiders: 0 sales, 0 purchases.

weight 22% of this tense · 85th percentile among 156 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, BrightSpire Capital, Inc.'s diluted share count shrank about 0.6% a year, and dividends and buybacks returned about 97% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 0 sales and 0 purchases of their own stock on the open market in the year to 2026-09-30 (their Form 4 filings).

What it rests on

  • the share count over the yearstop 10% of its family
  • cash returned against operating cash flowtop 20% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

3.7/1045% of the headline grade · 3 of 3 filed

Financial health

as filed
4.4/10

Is it financially healthy right now?

ROE -3%: lost 3¢ per shareholder dollar. Leverage 74%: owes 74¢ per asset dollar.

weight 45% of this tense · 44th percentile among 171 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, BrightSpire Capital, Inc. lost about 3 cents for every dollar of shareholders' money. Leverage: it owed about 74 cents per dollar of assets, and net share issuance: its share count shrank 0.4% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 31% of its family
  • return on equitybottom 19% of its family
  • the share count against the year beforetop 18% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
2.4/10

How strong is its position in its industry?

bottom 24% of 157 in its family; net margin -9.4%.

weight 33% of this tense · 24th percentile among 157 sector filers · read for its customers

From the record

BrightSpire Capital, Inc.'s standing among 157 graded names in its industry family: revenue of $331 million in fiscal 2025 ranks in the bottom 37% by size; a net margin of -9.4% ranks in the bottom 20%; revenue growth of -3.2% a year over the last 3 filed years ranks in the bottom 14% (its annual reports).

What it rests on

  • revenue against the family$331Mbottom 37% of its family
  • net margin-9.4%bottom 20% of its family
  • three-year revenue growth-3.2%bottom 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
4.5/10

What are the people in charge doing?

bottom 45% of 160 in its family for leadership; chief executive since 2020.

weight 22% of this tense · 45th percentile among 160 sector filers · read for its shareholders

From the record

BrightSpire Capital, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Mazzei, Michael (CEO, as filed), filing under that title since 2020-04-03, 6.6 years (bottom 45% of its family); the 8 officers and directors filing in the last fifteen months have been on the record a median of 7.3 years (bottom 42%); 3 officer or director changes were reported on Form 8-K since 2023-11-13, against the 8 people in charge now (bottom 46%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge3 in three years among 8 peoplebottom 46% of its family
  • the median years the people in charge have filed7.3 yearsbottom 42% of its family
  • the chief executive's years on the record6.6 yearsbottom 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

2.9/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
2.4/10

How much room does it have to grow?

bottom 24% of 146 in its family for room to expand.

weight 22% of this tense · 24th percentile among 146 sector filers · read for itself

From the record

BrightSpire Capital, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $67 million against debt of $2.5 billion leaves -67.4% of its assets as net cash, bottom 10% of its family; cash from operations less capital spending is 22.1% of revenue (bottom 38%) (its annual report).

What it rests on

  • cash less debt against assets-67.4%bottom 10% of its family
  • cash from operations less capital spending against revenue22.1%bottom 38% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
1.5/10

What could actually drive growth from here?

bottom 15% of 153 in its family for growth drivers.

weight 33% of this tense · 15th percentile among 153 sector filers · read for its customers

From the record

BrightSpire Capital, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew -3.2% a year over the last three filed years against 8.5% over all 10, slowing (bottom 16% of its family); the newest year grew -7.9% (bottom 15%) (its annual reports). BrightSpire Capital, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span-11.7 points a yearbottom 16% of its family
  • the newest year's revenue growth-7.9%bottom 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
4.2/10

Did its newest year beat what its own record pointed to?

bottom 42% of 150 in its family for expectations against reality.

weight 45% of this tense · 42nd percentile among 150 sector filers · read for its shareholders

From the record

BrightSpire Capital, Inc.'s newest year against its own record: revenue of $331 million in fiscal 2025 came in 7.1% below the $356 million its prior three years' pace pointed to (bottom 31% of its family); net income of $31 million against a prior three-year average of $34 million (bottom 46%); a net margin of -9.4% against -9.3% before (bottom 48%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-7.1%bottom 31% of its family
  • net income against the prior three years' average+8%bottom 46% of its family
  • net margin against its prior average-0.1 pointsbottom 48% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton BRSP · research, not advice