What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Seritage Growth Properties SRG Operating margin

Discontinued — last reported Q3 '18

Operating margin at other companies

Kimco RealtyKIM

36.9%+4.1pp

Simon Property GroupSPG

48.3%-3.2pp

ANN

AleAnna, Inc.ANNA

30.3%—

CTO Realty GrowthCTO

23.5%—

LTC PropertiesLTC

41.8%+1.0pp

InvenTrust PropertiesIVT

22.5%+16.3pp

Other financials

Income statement

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Revenue$2.1M-55.4%

Net income-$30.3M-36.6%

EPS (diluted)-$0.56-33.3%

Balance sheet

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Cash & equivalents$44.5M-52.8%

Total debt$600.0K-40.0%

Total equity$299.9M-21.3%

Total assets$361.2M-44.4%

Cash flow

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Operating cash flow-$5.7M+37.8%

CapEx$294.0K-95.9%

Free cash flow-$6.0M+63.1%

Valuation

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Market cap$149.82M-13.9%

Enterprise value$105.92M+2.9%

P/S9.6×-0.7×

Profitability

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Net margin-487.6%-160pp

FCF margin-330.5%+127pp

Returns & leverage

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Return on equity-22.4%-5.7pp

Debt / equity0×0.0×

Where this comes from

Calculated from Seritage Growth Properties’s reported figures.

operating income/total revenue=-55.1%

Based on trailing twelve months.

The official record: Seritage Growth Properties’s 10-Q, filed November 1, 2019, on SEC EDGAR. View the filing →

Questions, answered.

What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.