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Segments

By segment

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Commercial and Residential Lending Segment$13.22M+140%
Property Segment$6.17M+7.0%
Investing and Servicing Segment$2.66M
Infrastructure Lending Segment$0

Other financials

Income statement

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Revenue$512.5M+22.5%
Net income$51.9M-53.8%
EPS (diluted)$0.13-60.6%

Balance sheet

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Cash & equivalents$666.1M-3.8%
Total debt$69.0M+94.1%
Total equity$6.7B+4.1%
Total assets$62.1B-0.1%

Cash flow

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Operating cash flow$93.6M-60.8%
CapEx$219.6M
Free cash flow$488.8M+65.4%

Valuation

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Market cap$6.18B-13.2%
P/E17.6×-1.7×
P/S3.2×-0.8×

Profitability

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Operating margin14.2%
Net margin18.1%+0.9pp
FCF margin25.8%

Returns & leverage

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Return on equity5.4%+0.4pp
Debt / equity0.0×

Questions, answered.

What does lease costs mean?
This represents the direct costs associated with maintaining and operating leased properties, including property taxes, insurance, and maintenance. It is used to calculate the net operating income of the property portfolio.