TSX:HR.UN Income Statement

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

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Property Revenue	815.13	816.99	847.15	834.64	1,065
Revenue	815.13	816.99	847.15	834.64	1,065
Revenue Growth (YoY)	-0.23%	-3.56%	1.50%	-21.66%	-3.03%
Property Expenses	306.05	297.07	300.54	299.69	403.8
Total Property Expenses	306.05	297.07	300.54	299.69	403.8
Gross Profit	509.08	519.92	546.6	534.95	661.58
Selling, General & Admin	19.38	20.58	24.39	22.12	27.94
Other Operating Expenses	12.74	-	-	-	-
Operating Income	476.96	499.34	522.22	512.83	633.65
Net Gains on Disposal of Properties	-2.25	-11.15	-7.25	7.33	6.96
Interest Income	-256.57	14.05	159.31	61.93	142.88
Interest Expense	-205.55	-246.83	-218.15	-220.26	-236.88
Other Non-Operating Income (Expense)	-986.77	-434.34	-424.98	584.43	56.84
Total Non-Operating Income (Expense)	-1,451	-678.27	-491.07	433.43	-30.2
Pretax Income	-974.18	-178.93	31.15	946.26	603.45
Provision for Income Taxes	-182.62	-59.21	-30.54	101.44	5.54
Net Income	-791.56	-119.71	61.69	844.82	597.91
Net Income to Common	-791.56	-119.71	61.69	844.82	597.91
Net Income Growth	-	-	-92.70%	41.30%	-
Shares Outstanding (Basic)	263	280	282	291	302
Shares Outstanding (Diluted)	263	280	282	291	303
Shares Change (YoY)	-6.21%	-0.67%	-3.08%	-3.91%	5.49%
EPS (Basic)	-3.01	1.20	1.32	1.17	1.53
EPS (Diluted)	-3.01	1.20	1.32	1.17	1.52
EPS Growth	-	-9.81%	12.96%	-23.08%	-
Free Cash Flow	90.49	-58.59	60.5	-22.94	-70.27
Free Cash Flow Per Share	0.34	-0.21	0.21	-0.08	-0.23
Dividends Per Share	0.600	0.600	0.600	0.540	0.690
Dividend Growth	-	-	11.11%	-21.74%	-25.00%
Gross Margin	62.45%	63.64%	64.52%	64.09%	62.10%
Operating Margin	58.51%	61.12%	61.64%	61.44%	59.48%
Profit Margin	-97.11%	-14.65%	7.28%	101.22%	56.12%
FCF Margin	11.10%	-7.17%	7.14%	-2.75%	-6.60%
EBITDA	476.96	499.34	522.22	512.83	633.65
EBIT	476.96	499.34	522.22	512.83	633.65
EBIT Margin	58.51%	61.12%	61.64%	61.44%	59.48%
Effective Tax Rate	18.75%	33.09%	-98.06%	10.72%	0.92%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Real Estate template. Financial Sources.