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JBG SMITH Properties JBGS
$ 10.04 0.59%
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Quarterly report 2026-Q2
added 08-10-2026

JBG SMITH Properties Balance Sheet 2025-2011 | JBGS

Brief balance sheet overview of JBG SMITH Properties

The comparison uses five available annual reports from the 2021–2025 interval.

Assets fell from $6.4 billion to $4.4 billion. This may reflect either deliberate optimization or a reduction in business scale.

Asset growth of -31.3% came with a -7% rise in liabilities. Financial leverage became more prominent.

The share of internal funding stands at 26.4% versus 46% initially, providing a reasonable foundation.

The net-debt-to-equity ratio is 0.56x. Balance sheet leverage is low on this measure.

The cash reserve occupies 1.7% of the balance sheet, previously 4.1%. It is one marker of short-term resilience.

The accumulated result is -$1.2 billion and remains below zero. The number alone does not explain whether losses, dividends or repurchases were the main cause.

Overall assessment

JBG SMITH Properties has limited balance sheet resilience and depends heavily on cash generation and refinancing capacity.

Annual Balance Sheet JBG SMITH Properties

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

Net Debt

643 M 572 M 552 M 306 M 134 M 1.77 B 1.53 B 1.89 B 1.89 B 1.14 B 1.23 B 1.27 B - - -

Long Term Debt

718 M 718 M 717 M 547 M 399 M 1.99 B 1.62 B 2.14 B 2.19 B 1.17 B 1.3 B 1.28 B - - -

Total Non Current Liabilities

- - - - - - 2.44 B 2.88 B 2.96 B 1.21 B 1.38 B 1.33 B - - -

Total Liabilities

2.72 B 2.79 B 2.83 B 2.71 B 2.93 B 2.87 B 2.6 B 3.01 B 3.1 B 1.54 B 1.52 B 1.37 B - - -

Retained Earnings

-1.18 B -997 M -777 M -629 M -609 M -413 M -231 M -176 M -95.8 M - - - - - -

Total Assets

4.39 B 5.02 B 5.52 B 5.9 B 6.39 B 6.08 B 5.99 B 6 B 6.07 B 3.66 B 3.63 B 3.41 B - - -

Cash and Cash Equivalents

75.3 M 146 M 165 M 241 M 264 M 226 M 126 M 261 M 317 M 29 M 80.4 M - - - -

Book Value

1.67 B 2.23 B 2.69 B 3.2 B 3.46 B 3.21 B 3.39 B 2.99 B 2.97 B 2.12 B 2.11 B 2.04 B - - -

Total Shareholders Equity

1.16 B 1.81 B 2.22 B 2.68 B 2.94 B 3.21 B 3.39 B 2.99 B 2.97 B 2.12 B 2.06 B - - - -

All numbers in USD currency

Quarterly Balance Sheet JBG SMITH Properties

2026-Q2 2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Long Term Debt

718 M 719 M 718 M 718 M 718 M 718 M 718 M 718 M 718 M 717 M 717 M 717 M 717 M 547 M 547 M 547 M - 398 M 399 M 398 M 398 M 398 M 398 M 398 M 398 M 398 M 297 M 297 M 297 M 297 M 297 M 297 M 297 M 297 M 46.5 M 46.5 M 1.38 B 46.5 M 1.17 B - 1.17 B - - - - - - - - - - - - - - - - - - - - -

Total Liabilities

2.72 B 2.7 B 2.79 B 2.79 B 2.68 B 2.74 B 2.79 B 2.84 B 2.85 B 2.8 B 2.83 B 2.82 B 2.74 B 2.64 B 2.71 B 2.62 B - 2.89 B 2.93 B 2.38 B 2.29 B 2.29 B 2.34 B 2.34 B 2.34 B 2.34 B 1.99 B 1.99 B 1.99 B 1.99 B 2.45 B 2.45 B 2.45 B 2.45 B 2.49 B 2.49 B 2.49 B 2.49 B 1.54 B 1.54 B 1.54 B - - - - - - - - - - - - - - - - - - - - -

Retained Earnings

-1.18 B -1.2 B -997 M -997 M -1.07 B -1.04 B -997 M -908 M -866 M -825 M -777 M -723 M -642 M -607 M -629 M -559 M - -609 M -609 M -495 M -466 M -434 M -413 M -413 M -413 M -413 M -231 M -231 M -231 M -231 M -176 M -176 M -176 M -176 M -95.8 M -95.8 M -95.8 M -95.8 M - - - - - - - - - - - - - - - - - - - - - - - -

Total Assets

4.39 B 4.34 B 5.02 B 5.02 B 4.55 B 4.73 B 5.02 B 5.18 B 5.33 B 5.41 B 5.52 B 5.67 B 5.78 B 5.84 B 5.9 B 5.9 B - 6.32 B 6.39 B 6.01 B 6.01 B 6.02 B 6.08 B 6.08 B 6.08 B 6.08 B 5.99 B 5.99 B 5.99 B 5.99 B 6 B 6 B 6 B 6 B 6.07 B 6.07 B 6.07 B 6.07 B 3.66 B 3.66 B 3.66 B - - - - - - - - - - - - - - - - - - - - -

Cash and Cash Equivalents

183 M 79.8 M 274 M 200 M 61.4 M 81.3 M 146 M 137 M 164 M 221 M 165 M 131 M 157 M 280 M 241 M 259 M 162 M 189 M 264 M 194 M 201 M 209 M 226 M 226 M 226 M 226 M 126 M 126 M 126 M 126 M 261 M 261 M 261 M 261 M 317 M 317 M 317 M 317 M 29 M 29 M 29 M - 75 M - - - 16.2 M - - - - - - - - - - - - - - -

Book Value

1.67 B 1.63 B 2.23 B 2.23 B 1.87 B 1.99 B 2.23 B 2.34 B 2.47 B 2.61 B 2.69 B 2.85 B 3.05 B 3.2 B 3.2 B 3.28 B - 3.42 B 3.46 B 3.63 B 3.72 B 3.73 B 3.74 B 3.74 B 3.74 B 3.74 B 4 B 4 B 4 B 4 B 3.55 B 3.55 B 3.55 B 3.55 B 3.58 B 3.58 B 3.58 B 3.58 B 2.12 B 2.12 B 2.12 B - - - - - - - - - - - - - - - - - - - - -

Total Shareholders Equity

1.81 B 1.14 B 2.71 B 2.25 B 1.32 B 1.57 B 1.81 B 1.88 B 2.03 B 2.17 B 2.22 B 2.41 B 2.59 B 2.74 B 2.68 B 2.79 B 2.82 B 2.88 B 2.92 B 3.1 B 3.16 B 3.17 B 3.21 B 3.21 B 3.21 B 3.21 B 3.39 B 3.39 B 3.39 B 3.39 B 2.99 B 2.99 B 2.99 B 2.99 B 2.97 B 2.97 B 2.97 B 2.97 B 2.12 B 2.12 B 2.12 B - 2.06 B - - - 1.99 B - - - - - - - - - - - - - - -

All numbers in USD currency

Balance Sheet is a fundamental financial report of JBG SMITH Properties, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.

For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.

Features of balance sheet analysis
  • Vertical and horizontal analysis
    Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods.
  • Asset quality
    It is important to evaluate not only the amount of assets but also their liquidity and realizability.
  • Accounting for off-balance sheet liabilities
    Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.

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