Balance Sheet PSP Swiss Property AG

Equities

PSPN

CH0018294154

Real Estate Development & Operations

Market Closed - Swiss Exchange Other stock markets 16:31:06 12/05/2026 BST			5-day change	1st Jan Change
148.40 ^CHF	-0.67%		-2.11%	+3.41%

05:08pm	Swiss Market Index Closes Higher; SoftwareOne Shares Jump	MT
04:40pm	PSP Swiss Property AG, Q1 2026 Earnings Call, May 12, 2026

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Published financial data: PSP SWISS PROPERTY AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Rental Revenues	310M	316M	332M	350M	349M
Other Revenues, Total	68.09M	97.66M	40.07M	7.08M	1.82M
Total Revenues	378M	414M	372M	357M	351M
Property Expenses	74.29M	96.79M	47.14M	27.86M	18.92M
Selling General & Admin Expenses, Total	9.55M	9.73M	10.61M	11.97M	11.74M
Depreciation & Amortization - (IS) - (Collected)	1.4M	1.3M	1.19M	939K	1.06M
Other Operating Expenses	16.19M	14.74M	16.54M	13.73M	18.86M
Total Operating Expenses	101M	123M	75.49M	54.5M	50.58M
Operating Income (REIT / Utility Template)	276M	291M	296M	303M	300M
Interest Expense, Total	-11.72M	-12.06M	-23.86M	-34.68M	-35.59M
Interest and Investment Income	240K	112K	750K	417K	245K
Net Interest Expenses	-11.48M	-11.95M	-23.11M	-34.26M	-35.34M
Other Non Operating Income (Expenses)	363K	390K	223K	-12K	0
EBT, Excl. Unusual Items	265M	280M	274M	268M	265M
Gain (Loss) on Sale of Assets	9.46M	-447K	910K	14.09M	7.71M
Asset Writedown	465M	125M	-161M	171M	231M
EBT, Incl. Unusual Items	740M	404M	113M	453M	504M
Income Tax Expense	145M	74.26M	-94.34M	78.4M	95.49M
Earnings From Continuing Operations	595M	330M	208M	375M	408M
Net Income to Company	595M	330M	208M	375M	408M
Net Income - (IS)	595M	330M	208M	375M	408M
Net Income to Common Incl Extra Items	595M	330M	208M	375M	408M
Net Income to Common Excl. Extra Items	595M	330M	208M	375M	408M
Per Share Items
Net EPS - Basic	12.97	7.19	4.53	8.17	8.91
Basic EPS - Continuing Operations	12.97	7.19	4.53	8.17	8.91
Basic Weighted Average Shares Outstanding	45.87M	45.87M	45.87M	45.87M	45.87M
Net EPS - Diluted	12.97	7.19	4.53	8.17	8.91
Diluted EPS - Continuing Operations	12.97	7.19	4.53	8.17	8.91
Diluted Weighted Average Shares Outstanding	45.87M	45.87M	45.87M	45.87M	45.87M
Normalized Basic EPS	3.61	3.81	3.73	3.66	3.61
Normalized Diluted EPS	3.61	3.81	3.73	3.66	3.61
Dividend Per Share	3.75	3.8	3.85	3.9	3.95
Payout Ratio	28.13	52.12	83.95	47.09	43.79
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	277M	292M	298M	304M	302M
EBITA	276M	291M	296M	303M	300M
EBIT	276M	291M	296M	303M	300M
EBITDAR	278M	293M	-	-	302M
Effective Tax Rate - (Ratio)	19.54	18.37	-83.3	17.29	18.95
Current Domestic Taxes	24.13M	37.13M	24.52M	36.54M	30.89M
Total Current Taxes	24.13M	37.13M	24.52M	36.54M	30.89M
Deferred Domestic Taxes	120M	37.13M	-119M	41.86M	64.6M
Total Deferred Taxes	120M	37.13M	-119M	41.86M	64.6M
Normalized Net Income	166M	175M	171M	168M	166M
Interest Capitalized	1.04M	456K	498K	665K	732K
Interest on Long-Term Debt	-	-	-	-	-
Non-Cash Pension Expense	-789K	77K	1.25M	1.67M	2.32M
Supplemental Operating Expense Items
General and Administrative Expenses	7.69M	7.42M	-	-	-
Net Rental Expense, Total	385K	406K	-	-	805K
Imputed Operating Lease Interest Expense	12.9K	13.3K	-	-	69.17K
Imputed Operating Lease Depreciation	372K	393K	-	-	736K
Maintenance & Repair Expenses, Total	17.49M	16.86M	14.29M	13.2M	13.73M
Stock-Based Comp., SG&A Exp. (Total)	1.48M	1.9M	1.65M	1.96M	790K
Total Stock-Based Compensation	1.48M	1.9M	1.65M	1.96M	790K

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Gross Property Plant And Equipment	8.52B	8.89B	9.05B	9.54B	9.61B
Accumulated Depreciation	-5.63M	-6.38M	-6.66M	-7.51M	-8.44M
Net Property Plant And Equipment	8.51B	8.89B	9.05B	9.53B	9.61B
Total Real Estate Assets	8.51B	8.89B	9.05B	9.53B	9.61B
Cash And Equivalents	20.38M	20.74M	142M	56.97M	45.34M
Accounts Receivable, Total	14.45M	15.1M	16.06M	15.26M	8.39M
Other Receivables	6.44M	1.5M	8.54M	9.05M	440K
Investment In Debt and Equity Securities	867K	14.99M	6.11M	9K	9K
Other Intangibles, Total	742K	296K	189K	629K	494K
Other Current Assets, Total	87.52M	28.29M	30.83M	32.31M	141M
Trading Asset Securities, Total	-	400K	229K	-	-
Deferred Tax Assets Long-Term (Collected)	5.03M	2.83M	2.41M	2.12M	1.18M
Other Long-Term Assets, Total	537M	513M	534M	279M	375M
Total Assets	9.18B	9.48B	9.79B	9.92B	10.18B
Liabilities
Current Portion of Long-Term Debt	175M	440M	450M	350M	550M
Current Portion of Leases	179K	181K	185K	189K	188K
Long-Term Debt	2.84B	2.65B	3.01B	3.03B	2.82B
Long-Term Leases	6.88M	6.7M	6.63M	6.49M	6.31M
Accounts Payable, Total	8.58M	16.74M	28.82M	-	-
Accrued Expenses, Total	-	-	-	77.1M	52.06M
Current Income Taxes Payable	6.7M	18.21M	17.95M	17.84M	12.78M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	86.38M	80.59M	94.02M	30.28M	35.62M
Pension & Other Post Retirement Benefits	8.82M	5.49M	7.71M	7.89M	3.81M
Deferred Tax Liability Non-Current	1.03B	1.07B	950M	991M	1.06B
Other Non Current Liabilities	-1K	-1K	-	-	1K
Total Liabilities	4.16B	4.29B	4.57B	4.51B	4.53B
Common Stock, Total	4.59M	4.59M	4.59M	4.59M	4.59M
Retained Earnings	4.51B	4.67B	4.7B	4.9B	5.13B
Comprehensive Income and Other	506M	527M	517M	508M	513M
Total Common Equity	5.02B	5.2B	5.22B	5.41B	5.64B
Total Equity	5.02B	5.2B	5.22B	5.41B	5.64B
Total Liabilities And Equity	9.18B	9.48B	9.79B	9.92B	10.18B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	45.87M	45.87M	45.87M	45.87M	45.87M
ECS Total Common Shares Outstanding	45.87M	45.87M	45.87M	45.87M	45.87M
Book Value / Share	109.42	113.33	113.82	117.96	123.07
Tangible Book Value	5.02B	5.2B	5.22B	5.41B	5.64B
Tangible Book Value Per Share	109.41	113.33	113.82	117.95	123.06
Total Debt	3.02B	3.09B	3.47B	3.39B	3.37B
Net Debt	3B	3.07B	3.33B	3.33B	3.33B
Debt Equivalent of Unfunded Proj. Benefit Obligation	8.82M	5.49M	7.71M	7.89M	3.81M
Debt Equivalent Oper. Leases	3.08M	3.25M	-	-	6.44M
Equity Method Investments, Total	76K	78K	-	-	-
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	85.01M	25.44M	29.79M	27.5M	132M
Full Time Employees	90	91	90	77	77
Part Time Employees	-	-	-	38	39
Accumulated Allowance for Doubtful Accounts (Supple)	4.73M	4.18M	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	595M	330M	208M	375M	408M
Depreciation, Depletion & Amortization	841K	849K	1.19M	939K	1.06M
Total Depreciation, Depletion & Amortization	841K	849K	1.19M	939K	1.06M
Amortization of Deferred Charges, Total	836K	833K	221K	-	537K
(Gain) Loss On Sale of Asset - (CF)	-9.46M	447K	-910K	-14.09M	-7.71M
Total Asset Writedown	-465M	-125M	161M	-171M	-231M
(Income) Loss On Equity Investments - (CF)	-	-2K	-	-	-
Stock-Based Compensation (CF)	1.48M	1.9M	1.65M	1.96M	790K
Change in Accounts Receivable	13.83M	-687K	-956K	799K	6.87M
Change In Inventories	27.97M	59.64M	10.93M	2.31M	-701K
Change in Accounts Payable	970K	-2.73M	4.51M	1.43M	5.32M
Change in Unearned Revenues	-	-	17.5M	-18.05M	-24.16M
Change in Other Net Operating Assets (Collected)	20.94M	5.48M	1.81M	-3.78M	710K
Other Operating Activities	110M	45.63M	-128M	37.45M	67.15M
Cash from Operations	297M	316M	277M	213M	227M
Acquisition of Real Estate Assets, Total	-158M	-282M	-357M	-151M	-67.13M
Sale of Real Estate Assets, Total	51.89M	58.86M	3M	112M	22.77M
Net Sale / Acquisition of Real Estate Assets	-106M	-223M	-354M	-38.54M	-44.36M
Purchase / Sale of Intangible Assets	-	-	-193K	-484K	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Net (Increase) Decrease in Loans Originated / Sold - Investing	1.23M	932K	805K	890K	778K
Other Investing Activities, Total	-	2K	-	-	-1K
Cash from Investing	-105M	-222M	-354M	-38.14M	-43.58M
Long-Term Debt Issued, Total	816M	1.02B	1.21B	716M	580M
Total Debt Issued	816M	1.02B	1.21B	716M	580M
Long-Term Debt Repaid, Total	-850M	-935M	-830M	-795M	-595M
Total Debt Repaid	-850M	-935M	-830M	-795M	-595M
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-1.51M	-1.98M	-1.62M	-1.88M	-825K
Common Dividends Paid	-167M	-172M	-174M	-177M	-179M
Common & Preferred Stock Dividends Paid	-167M	-172M	-174M	-177M	-179M
Other Financing Activities, Total	-1.14M	-89K	-1.46M	-1.58M	-570K
Cash from Financing	-204M	-93.94M	198M	-260M	-195M
Miscellaneous Cash Flow Adjustments	-	-1K	-	-1K	-
Net Change in Cash	-11.96M	362K	121M	-84.71M	-11.62M
Supplemental Items
Cash Interest Paid	13.26M	13.05M	20.87M	34.21M	36.66M
Cash Income Tax Paid (Refund)	26.56M	20.84M	-	37.15M	27.34M
Net Debt Issued / Repaid	-34.36M	80.12M	375M	-79.49M	-15M
Levered Free Cash Flow	229M	256M	188M	153M	49.61M
Unlevered Free Cash Flow	236M	263M	203M	175M	71.32M
Change In Net Working Capital	-60.5M	-77.4M	-14.71M	16.77M	118M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.94	1.95	1.92	1.92	1.87
Return on Total Capital	2.2	2.23	2.18	2.16	2.11
Return On Equity %	12.4	6.46	3.98	7.05	7.39
Return on Common Equity	12.4	6.46	3.98	7.05	7.39
Margin Analysis
Gross Profit Margin %	80.33	76.61	87.33	92.2	94.61
SG&A Margin	7.43	6.82	7.95	8.11	8.86
EBITDA Margin %	73.37	70.59	80.03	85	85.9
EBITA Margin %	73.15	70.39	79.71	84.74	85.59
EBIT Margin %	73.15	70.39	79.71	84.74	85.59
Income From Continuing Operations Margin %	157.53	79.72	55.81	105.01	116.36
Net Income Margin %	157.53	79.72	55.81	105.01	116.36
Net Avail. For Common Margin %	157.53	79.72	55.81	105.01	116.36
Normalized Net Income Margin	43.88	42.25	45.97	46.96	47.2
Levered Free Cash Flow Margin	60.63	61.74	50.53	42.87	14.13
Unlevered Free Cash Flow Margin	62.5	63.47	54.48	48.94	20.32
Asset Turnover
Asset Turnover	0.04	0.04	0.04	0.04	0.03
Fixed Assets Turnover	0.05	0.05	0.04	0.04	0.04
Receivables Turnover (Average Receivables)	14.49	21.41	21.3	22.35	29.54
Inventory Turnover (Average Inventory)	0.75	1.75	1.71	0.97	0.24
Short Term Liquidity
Current Ratio	0.46	0.12	0.33	0.24	0.3
Quick Ratio	0.15	0.07	0.28	0.17	0.08
Operating Cash Flow to Current Liabilities	1.07	0.57	0.47	0.45	0.35
Days Sales Outstanding (Average Receivables)	25.19	17.05	17.13	16.37	12.36
Days Outstanding Inventory (Average Inventory)	485.66	208.26	213.82	376.3	1.54K
Average Days Payable Outstanding	62.77	124.1	188.27	-	-
Cash Conversion Cycle (Average Days)	448.08	101.21	42.68	-	-
Long Term Solvency
Total Debt/Equity	60.17	59.51	66.42	62.64	59.76
Total Debt / Total Capital	37.56	37.31	39.91	38.52	37.41
LT Debt/Equity	56.67	51.05	57.79	56.17	50.01
Long-Term Debt / Total Capital	35.38	32	34.72	34.54	31.31
Total Liabilities / Total Assets	45.34	45.19	46.66	45.48	44.54
EBIT / Interest Expense	23.57	24.16	12.43	8.72	8.44
EBITDA / Interest Expense	23.64	24.23	12.48	8.75	8.47
(EBITDA - Capex) / Interest Expense	23.64	24.23	12.48	8.75	8.47
Total Debt / EBITDA	10.9	10.59	11.65	11.17	11.19
Net Debt / EBITDA	10.82	10.52	11.17	10.98	11.04
Total Debt / (EBITDA - Capex)	10.9	10.59	11.65	11.17	11.19
Net Debt / (EBITDA - Capex)	10.82	10.52	11.17	10.98	11.04
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	8.18	9.57	-10.13	-4.01	-1.68
Gross Profit, 1 Yr. Growth %	3.72	4.5	2.43	1.34	-0.87
EBITDA, 1 Yr. Growth %	2.46	5.43	1.72	1.96	-0.65
EBITA, 1 Yr. Growth %	2.44	5.44	1.77	2.05	-0.69
EBIT, 1 Yr. Growth %	2.44	5.44	1.77	2.05	-0.69
Earnings From Cont. Operations, 1 Yr. Growth %	103.71	-44.55	-37.08	80.62	8.94
Net Income, 1 Yr. Growth %	103.71	-44.55	-37.08	80.62	8.94
Diluted EPS Before Extra, 1 Yr. Growth %	103.71	-44.55	-37.08	80.62	8.94
Normalized Net Income, 1 Yr. Growth %	3.38	5.5	-2.21	-1.94	-1.18
Net Property, Plant and Equip., 1 Yr. Growth %	10.77	4.43	1.8	5.32	0.8
Inventory, 1 Yr. Growth %	-24.56	-70.07	17.1	-7.69	381.52
Accounts Receivable, 1 Yr. Growth %	-48.93	4.53	6.33	-4.98	-45.04
Total Assets, 1 Yr. Growth %	5.97	3.28	3.2	1.4	2.56
Common Equity, 1 Yr. Growth %	9.61	3.57	0.43	3.64	4.33
Tangible Book Value, 1 Yr. Growth %	9.62	3.58	0.43	3.63	4.33
Cash From Operations, 1 Yr. Growth %	41.82	6.37	-12.5	-23.09	6.7
Capital Expenditures, 1 Yr. Growth %	-	-	-	-	-
Levered Free Cash Flow, 1 Yr. Growth %	137.28	11.54	-26.44	-18.47	-67.59
Unlevered Free Cash Flow, 1 Yr. Growth %	125.36	11.28	-22.85	-13.78	-59.19
Dividend Per Share, 1 Yr. Growth %	2.74	1.33	1.32	1.3	1.28
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	5.26	8.88	-0.76	-7.12	-2.85
Gross Profit, 2 Yr. CAGR %	4.23	4.11	3.46	1.88	1.12
EBITDA, 2 Yr. CAGR %	4.33	3.93	3.64	1.84	0.65
EBITA, 2 Yr. CAGR %	4.33	3.93	3.59	1.91	0.67
EBIT, 2 Yr. CAGR %	4.33	3.93	3.59	1.91	0.67
Earnings From Cont. Operations, 2 Yr. CAGR %	14.55	6.28	-40.93	6.6	40.27
Net Income, 2 Yr. CAGR %	14.55	6.28	-40.93	6.6	40.27
Diluted EPS Before Extra, 2 Yr. CAGR %	14.55	6.28	-40.93	6.6	40.27
Normalized Net Income, 2 Yr. CAGR %	6.29	4.44	1.58	-2.08	-1.56
Net Property, Plant and Equip., 2 Yr. CAGR %	8.27	7.55	3.11	3.55	3.04
Inventory, 2 Yr. CAGR %	9.01	-52.48	-40.8	3.97	110.83
Accounts Receivable, 2 Yr. CAGR %	11.1	-26.94	5.43	0.52	-27.73
Total Assets, 2 Yr. CAGR %	6.89	4.62	3.24	2.29	1.98
Common Equity, 2 Yr. CAGR %	6.2	6.55	1.99	2.02	3.98
Tangible Book Value, 2 Yr. CAGR %	6.21	6.56	1.99	2.02	3.98
Cash From Operations, 2 Yr. CAGR %	10.89	22.82	-3.52	-17.97	-9.41
Levered Free Cash Flow, 2 Yr. CAGR %	-6.94	62.71	-9.42	-22.6	-48.6
Unlevered Free Cash Flow, 2 Yr. CAGR %	-7.52	58.36	-7.35	-18.44	-40.68
Dividend Per Share, 2 Yr. CAGR %	2.06	2.03	1.32	1.31	1.29
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.36	6.68	2.13	-1.86	-5.34
Gross Profit, 3 Yr. CAGR %	4.67	4.32	3.55	2.75	1.55
EBITDA, 3 Yr. CAGR %	4.89	4.7	3.24	3.07	1
EBITA, 3 Yr. CAGR %	4.9	4.7	3.2	3.07	1.03
EBIT, 3 Yr. CAGR %	4.9	4.7	3.2	3.07	1.03
Earnings From Cont. Operations, 3 Yr. CAGR %	24.52	-10.05	-10.76	-14.27	7.37
Net Income, 3 Yr. CAGR %	24.52	-10.05	-10.76	-14.27	7.37
Diluted EPS Before Extra, 3 Yr. CAGR %	24.52	-10.05	-10.76	-14.27	7.37
Normalized Net Income, 3 Yr. CAGR %	6.85	6.03	2.17	0.39	-1.78
Net Property, Plant and Equip., 3 Yr. CAGR %	7.87	6.97	5.6	3.84	2.63
Inventory, 3 Yr. CAGR %	30.08	-29.15	-35.82	-31.35	73.3
Accounts Receivable, 3 Yr. CAGR %	103.31	8.87	-17.2	1.84	-17.8
Total Assets, 3 Yr. CAGR %	6.42	5.68	4.14	2.62	2.38
Common Equity, 3 Yr. CAGR %	6.48	5.32	4.47	2.54	2.79
Tangible Book Value, 3 Yr. CAGR %	6.49	5.33	4.48	2.54	2.78
Cash From Operations, 3 Yr. CAGR %	12.73	9.36	9.7	-10.55	-10.45
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 3 Yr. CAGR %	8.57	-1.14	24.88	-12.58	-42.1
Unlevered Free Cash Flow, 3 Yr. CAGR %	7.14	-1.64	24.61	-9.54	-35.25
Dividend Per Share, 3 Yr. CAGR %	2.33	1.82	1.79	1.32	1.3
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.36	5.55	3.45	0.93	0.11
Gross Profit, 5 Yr. CAGR %	2.56	3.58	4.18	3.34	2.57
EBITDA, 5 Yr. CAGR %	2.79	3.85	4.39	3.58	2.2
EBITA, 5 Yr. CAGR %	2.79	3.85	4.37	3.58	2.18
EBIT, 5 Yr. CAGR %	2.79	3.85	4.37	3.58	2.18
Earnings From Cont. Operations, 5 Yr. CAGR %	34.56	5.13	-7.6	-3.73	6.94
Net Income, 5 Yr. CAGR %	34.56	5.13	-7.6	-3.73	6.94
Diluted EPS Before Extra, 5 Yr. CAGR %	34.56	5.13	-7.6	-3.73	6.94
Normalized Net Income, 5 Yr. CAGR %	4.35	5.23	4.71	2.71	0.66
Net Property, Plant and Equip., 5 Yr. CAGR %	6.23	6.84	5.94	5.59	4.57
Inventory, 5 Yr. CAGR %	7.87	-11.62	-5.06	-17.4	3.28
Accounts Receivable, 5 Yr. CAGR %	-	-	56.34	5.45	-21.59
Total Assets, 5 Yr. CAGR %	5.45	5.13	5.13	4.31	3.27
Common Equity, 5 Yr. CAGR %	5.36	5.44	4.66	3.99	4.27
Tangible Book Value, 5 Yr. CAGR %	5.35	5.44	4.67	3.99	4.28
Cash From Operations, 5 Yr. CAGR %	7.69	12.77	5.92	-2.52	1.61
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 5 Yr. CAGR %	10.19	51.03	0.99	-10.36	-12.46
Unlevered Free Cash Flow, 5 Yr. CAGR %	8.44	71.65	1.09	-8.74	-7.4
Dividend Per Share, 5 Yr. CAGR %	2.28	2.25	1.92	1.61	1.59