Spear Reit Limited (JSE:SEA)
South Africa · Delayed Price · Currency is ZAR · Price in ZAc 1,214.00
+29.00 (2.45%)
Feb 2, 2026, 10:31 AM SAST
Spear Reit Income Statement
Financials in millions ZAR. Fiscal year is March - February.
Millions ZAR. Fiscal year is Mar - Feb.
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Aug '25 Aug 31, 2025 | Feb '25 Feb 28, 2025 | Feb '24 Feb 29, 2024 | Feb '23 Feb 28, 2023 | Feb '22 Feb 28, 2022 | Feb '21 Feb 28, 2021 |
Rental Revenue | 575.84 | 508.28 | 451.69 | 434.15 | 433.6 | 410.08 |
Tenant Reimbursements | 200.14 | 181.78 | 164.21 | 146 | 140.75 | 120.28 |
Other Revenue | 0.29 | 0.29 | 0.32 | - | 0.2 | 0.17 |
| 776.27 | 690.35 | 616.21 | 580.15 | 574.56 | 530.54 | |
Revenue Growth (YoY | 22.94% | 12.03% | 6.21% | 0.97% | 8.30% | 0.74% |
Property Expenses | 269.34 | 241.27 | 215.02 | 198.02 | 195.77 | 160.93 |
Selling, General & Administrative | 52.89 | 45.88 | 35.9 | 36.72 | 37.14 | 26.67 |
Depreciation & Amortization | 16.06 | 15.67 | 15.37 | 15.35 | 13.77 | 11.75 |
Other Operating Expenses | -0.15 | -0.15 | -3.19 | - | -0.05 | -0.07 |
Total Operating Expenses | 354.81 | 317.51 | 271.55 | 257.97 | 256.07 | 211.17 |
Operating Income | 421.46 | 372.84 | 344.66 | 322.19 | 318.49 | 319.37 |
Interest Expense | -133.58 | -122.03 | -159.18 | -138.15 | -150.94 | -153.84 |
Interest & Investment Income | 19.36 | 3.88 | 2.64 | 2.8 | 3.65 | 5.91 |
Other Non-Operating Income | -1.07 | -0.36 | -0.35 | 0.13 | -0.06 | -0.28 |
EBT Excluding Unusual Items | 306.17 | 254.33 | 187.77 | 186.96 | 171.15 | 171.16 |
Gain (Loss) on Sale of Investments | - | - | - | - | -0.27 | -0.12 |
Total Insurance Settlements | 0.95 | 0.95 | 0 | 0.64 | 0.02 | 0.64 |
Asset Writedown | 368.39 | 277.09 | 176.89 | -2.87 | -2.05 | -106.4 |
Pretax Income | 675.5 | 532.37 | 364.66 | 184.73 | 168.85 | 65.28 |
Income Tax Expense | 7.77 | 7.25 | 1.92 | 2.53 | 3.93 | 8.29 |
Earnings From Continuing Operations | 667.74 | 525.12 | 362.74 | 182.21 | 164.92 | 56.99 |
Minority Interest in Earnings | - | - | - | - | - | -3.98 |
Net Income | 667.74 | 525.12 | 362.74 | 182.21 | 164.92 | 53.01 |
Net Income to Common | 667.74 | 525.12 | 362.74 | 182.21 | 164.92 | 53.01 |
Net Income Growth | 83.52% | 44.77% | 99.08% | 10.48% | 211.13% | -74.43% |
Basic Shares Outstanding | 332 | 286 | 225 | 232 | 217 | 208 |
Diluted Shares Outstanding | 339 | 293 | 229 | 236 | 217 | 208 |
Shares Change (YoY) | 37.96% | 27.76% | -2.82% | 8.87% | 4.13% | 3.71% |
EPS (Basic) | 2.01 | 1.83 | 1.62 | 0.79 | 0.76 | 0.25 |
EPS (Diluted) | 1.97 | 1.79 | 1.58 | 0.77 | 0.76 | 0.25 |
EPS Growth | 33.03% | 13.31% | 104.85% | 1.48% | 198.82% | -75.35% |
Dividend Per Share | 0.833 | 0.813 | 0.789 | 0.760 | 0.682 | 0.587 |
Dividend Growth | 4.08% | 3.06% | 3.79% | 11.33% | 16.27% | -35.96% |
Operating Margin | 54.29% | 54.01% | 55.93% | 55.54% | 55.43% | 60.20% |
Profit Margin | 86.02% | 76.07% | 58.87% | 31.41% | 28.70% | 9.99% |
EBITDA | 437.52 | 388.51 | 360.03 | 337.53 | 332.26 | 331.12 |
EBITDA Margin | 56.36% | 56.28% | 58.43% | 58.18% | 57.83% | 62.41% |
D&A For Ebitda | 16.06 | 15.67 | 15.37 | 15.35 | 13.77 | 11.75 |
EBIT | 421.46 | 372.84 | 344.66 | 322.19 | 318.49 | 319.37 |
EBIT Margin | 54.29% | 54.01% | 55.93% | 55.54% | 55.43% | 60.20% |
Funds From Operations (FFO) | 304.36 | 244.7 | 190.78 | 178.46 | 157.07 | - |
Adjusted Funds From Operations (AFFO) | - | 244.7 | 190.78 | 178.46 | 157.07 | - |
FFO Payout Ratio | 85.17% | 94.36% | 90.11% | 93.89% | 80.83% | - |
Effective Tax Rate | 1.15% | 1.36% | 0.53% | 1.37% | 2.33% | 12.70% |
Revenue as Reported | 776.65 | 691.45 | 619.4 | 581.23 | 574.86 | 531.24 |
Updated Aug 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.