NewLake Capital Partners, Inc. (NLCP)

NewLake Capital Partners Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Rental Revenue	49.62	50.53	49.6	46.78	42.57	27.45
Total Revenue	50.17	51.07	50.13	47.3	45	28.06
Revenue Growth (YoY	-1.11%	1.88%	5.98%	5.12%	60.38%	140.57%
Property Expenses	1.13	1.19	0.24	0.66	0.22	-
Selling, General & Administrative	6.77	7.12	7.91	7.56	7.58	6.87
Depreciation & Amortization	15.5	15.52	14.71	14.27	12.83	8.1
Total Operating Expenses	23.36	23.79	22.82	22.65	20.62	14.96
Operating Income	26.81	27.29	27.32	24.66	24.38	13.1
Interest Expense	-0.88	-0.84	-0.57	-0.38	-0.27	-0.01
Interest & Investment Income	0.36	0.36	0.35	-	-	0.1
Other Non-Operating Income	-0.01	-	-	0.75	0.11	-
EBT Excluding Unusual Items	26.28	26.8	27.11	25.02	24.22	13.19
Gain (Loss) on Sale of Investments	-	-	-0.52	-	-	-
Gain (Loss) on Sale of Assets	-0.03	-0.03	-	-	-0.06	-
Other Unusual Items	-	-	-	-	-1.8	-1.6
Pretax Income	26.24	26.77	26.58	25.02	22.36	11.59
Earnings From Continuing Operations	26.24	26.77	26.58	25.02	22.36	11.59
Minority Interest in Earnings	-0.44	-0.45	-0.47	-0.44	-0.38	-0.36
Net Income	25.8	26.32	26.12	24.59	21.98	11.23
Preferred Dividends & Other Adjustments	-	-	-	-	-	0
Net Income to Common	25.8	26.32	26.12	24.59	21.98	11.23
Net Income Growth	0.99%	0.78%	6.22%	11.87%	95.64%	-
Basic Shares Outstanding	21	21	21	21	21	17
Diluted Shares Outstanding	21	21	21	22	22	18
Shares Change (YoY)	0.15%	0.13%	-2.72%	-1.20%	24.16%	146.61%
EPS (Basic)	1.25	1.28	1.27	1.16	1.03	0.66
EPS (Diluted)	1.25	1.28	1.27	1.16	1.02	0.66
EPS Growth	0.46%	0.56%	9.20%	13.29%	55.37%	-
Dividend Per Share	1.290	1.720	1.700	1.570	1.440	0.430
Dividend Growth	-25.00%	1.18%	8.28%	9.03%	234.88%	-
Operating Margin	53.43%	53.43%	54.49%	52.12%	54.17%	46.67%
Profit Margin	51.42%	51.53%	52.09%	51.97%	48.84%	40.02%
EBITDA	42.33	42.81	42.03	38.92	37.2	21.19
EBITDA Margin	84.36%	83.81%	83.84%	82.28%	82.67%	75.53%
D&A For Ebitda	15.52	15.52	14.71	14.27	12.83	8.1
EBIT	26.81	27.29	27.32	24.66	24.38	13.1
EBIT Margin	53.43%	53.43%	54.49%	52.12%	54.17%	46.67%
Funds From Operations (FFO)	41.4	41.4	40.34	39.29	35.24	19.68
FFO Per Share	-	-	-	1.82	1.62	1.12
Adjusted Funds From Operations (AFFO)	-	42.69	42.75	40.65	38.66	21.75
AFFO Per Share	-	-	-	1.89	1.77	1.24
FFO Payout Ratio	-	85.33%	84.90%	84.14%	82.27%	59.27%
Revenue as Reported	50.17	51.07	50.13	47.3	45	28.06

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.