Starwood Real Estate Income Trust, Inc. (SWDR)

SWDR Cash Flow Statement

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

Operating Activities

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
Net Income	-627.29	-691.62	-684.88	-649.7	-65.71	-302.25
Depreciation & Amortization	708.54	703.6	739.76	807.95	845.37	329.27
Other Amortization	23.74	24.88	22.25	35.11	37.57	8.55
Gain (Loss) on Sale of Assets	-11.33	-21.08	-87.11	-289.82	-	-
Gain (Loss) on Sale of Investments	-	-	7.56	53.63	35.18	-
Asset Writedown	5.12	5.12	150.39	188.8	-	-
Stock-Based Compensation	0.84	0.84	0.84	0.84	0.89	0.54
Income (Loss) on Equity Investments	33.21	39.64	35.25	25.76	101.32	205.03
Change in Other Net Operating Assets	28.72	27.82	41.47	21.88	-53.11	-28.38
Other Operating Activities	153.02	256.41	203.65	362.12	-306.61	20.37
Operating Cash Flow	314.58	345.61	429.19	556.57	594.91	233.13
Operating Cash Flow Growth	-20.60%	-19.47%	-22.89%	-6.44%	155.19%	106.59%

Investing Activities

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
Acquisition of Real Estate Assets	-165.66	-173.47	-185.54	-180.18	-5,269	-12,977
Sale of Real Estate Assets	154.85	1,202	443.16	2,180	-	-
Net Sale / Acq. of Real Estate Assets	-10.81	1,028	257.62	1,999	-5,269	-12,977
Investment in Marketable & Equity Securities	8.99	86.83	641.19	180.07	-1,274	-927.85
Other Investing Activities	71.11	71.91	15.73	52.23	57.18	-
Investing Cash Flow	69.29	1,187	914.54	2,232	-6,487	-13,905

Financing Activities

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
Short-Term Debt Issued	-	290.33	-	-	644.13	274.03
Long-Term Debt Issued	-	3,067	1,258	2,371	4,018	8,750
Total Debt Issued	5,215	3,358	1,258	2,371	4,662	9,024
Short-Term Debt Repaid	-	-245.59	-243.38	-5.47	-128.38	-108.25
Long-Term Debt Repaid	-	-3,926	-1,053	-2,842	-1,639	-473.03
Total Debt Repaid	-4,795	-4,172	-1,297	-2,847	-1,767	-581.28
Net Debt Issued (Repaid)	420.43	-814.12	-39.35	-475.96	2,895	8,443
Issuance of Common Stock	18	34.65	101.24	318.5	4,802	6,140
Repurchase of Common Stock	-505.93	-472.94	-1,066	-2,611	-1,347	-64.55
Common Dividends Paid	-343.95	-341.82	-325.45	-356.18	-311.91	-117.38
Other Financing Activities	-62.32	-47.52	-35.64	-69.15	-127.28	-82.71

Net Cash Flow

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
Foreign Exchange Rate Adjustments	16.4	11.27	3.61	-10.35	-3.18	-
Net Cash Flow	-73.5	-97.67	-17.7	-415.97	16.05	647.14

Free Cash Flow

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
Levered Free Cash Flow	392.23	526.13	417	568.07	68	-310.43
Unlevered Free Cash Flow	852.54	1,013	932.97	1,081	589.53	-238.14

Additional Metrics

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
Cash Interest Paid	776.99	792.8	965.39	913.27	442.97	122.28
Change in Working Capital	28.72	27.82	41.47	21.88	-53.11	-28.38

Data Source: S&P Global Market Intelligence Last updated: Mar 31, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Aug 10, 2026

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