FR Income Statement

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

Millions USD. 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	719.22	660.97	602.29	532.24	473.24
Service and Other Revenue	7.86	8.67	11.73	7.69	3.05
Revenue	727.08	669.64	614.03	539.93	476.29
Revenue Growth (YoY)	8.58%	9.06%	13.72%	13.36%	6.31%
Property Expenses	191.48	182.82	165.66	143.66	131.3
Service and Other Expenses	0.63	1.53	3.67	0.91	-
Total Property Expenses	192.11	184.35	169.32	144.57	131.3
Gross Profit	534.97	485.29	444.71	395.36	344.99
Selling, General & Admin	41.95	40.94	37.12	33.97	34.61
Depreciation & Amortization Expenses	185.32	171.94	162.95	147.42	130.95
Operating Income	307.71	272.42	244.63	213.97	179.43
Net Gains on Disposal of Properties	26.91	111.97	95.65	128.27	150.31
Interest Income	34.67	4.3	32.21	114.94	-0.16
Interest Expense	-89.92	-86.62	-77.96	-52.2	-47.53
Total Non-Operating Income (Expense)	-28.35	29.65	49.9	191.01	102.62
Pretax Income	244.69	297.77	262.32	290.03	282.21
Provision for Income Taxes	15.28	6.08	8.69	23.36	4.88
Net Income	494.74	574.9	549.4	717.92	541.7
Minority Interest in Earnings	16.78	8.65	11.25	22.83	6.47
Net Income to Common	494.74	574.9	549.4	717.92	541.7
Net Income Growth	-13.94%	4.64%	-23.47%	32.53%	176.39%
Shares Outstanding (Basic)	132	132	132	132	130
Shares Outstanding (Diluted)	133	132	132	132	130
Shares Change (YoY)	0.07%	0.06%	0.18%	1.79%	1.46%
EPS (Basic)	1.87	2.17	2.08	2.72	2.09
EPS (Diluted)	1.87	2.17	2.07	2.72	2.09
EPS Growth	-13.83%	4.83%	-23.90%	30.14%	36.60%
Free Cash Flow	-169.03	63.06	-188.17	-416.75	-400.11
Free Cash Flow Per Share	-1.28	0.48	-1.42	-3.15	-3.08
Dividends Per Share	1.780	1.480	1.280	1.180	1.080
Dividend Growth	20.27%	15.63%	8.48%	9.26%	8.00%
Gross Margin	73.58%	72.47%	72.42%	73.22%	72.43%
Operating Margin	42.32%	40.68%	39.84%	39.63%	37.67%
Profit Margin	36.32%	44.20%	46.55%	70.68%	58.19%
FCF Margin	-23.25%	9.42%	-30.65%	-77.19%	-84.01%
EBITDA	461.68	415.27	378.69	336.63	290.73
EBITDA Margin	63.50%	62.01%	61.67%	62.35%	61.04%
EBIT	307.71	272.42	244.63	213.97	179.43
EBIT Margin	42.32%	40.68%	39.84%	39.63%	37.67%
Effective Tax Rate	6.25%	2.04%	3.31%	8.06%	1.73%

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

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