BRSPBrightSpire Capital, Inc.
Is it safe?
Nothing alarming, nothing pristine: heavy debt (B) and typical volatility.
Highly leveraged, watch solvency. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -86% · now 36% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can BRSP take a bad year?
BrightSpire Capital, Inc. carries $2.68B of net debt at 20.9× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 20.9×
Net debt / EBITDA · 15.7× a year ago · the load is going up
- Interest cover
- 4.68×
Interest cover · operating profit covers the interest bill, with room to spare
- Annualised volatility
- 29%
Annualised volatility · about as steady as the market itself
Details›
- Total debtQ2 2026
- $2.75B
- Cash and short-term investments
- $68M
- Net debt
- $2.68B
- EBITDA, trailing twelve months
- $128M
- Operating profit, trailing twelve months
- $96M
- Debt / equity
- 3.18×
- Total debt / EBITDA
- 21.4×
- Annualised volatilitytwo years of daily moves
- 29%
- Worst drawdown on file
- −86%
- Below its 52-week high
- 36%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
REIT, Mortgage
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