Whitestone REIT 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	320.3	304.98	293.21	138.2	123.88
Service and Other Revenue	1.58	3.02	1.32	1.22	1.49
Revenue	160.86	154.28	146.97	139.42	125.37
Revenue Growth (YoY)	4.26%	4.98%	5.41%	11.21%	6.32%
Property Expenses	31.83	28.21	27.95	25.69	22.56
Total Property Expenses	31.83	28.21	27.95	25.69	22.56
Property Taxes	18.31	17.77	18.02	17.61	16.76
Gross Profit	110.72	108.3	101.01	96.13	86.04
Selling, General & Admin	21.22	23.19	20.65	18.07	22.63
Depreciation & Amortization Expenses	35.93	34.89	32.97	31.71	28.95
Operating Income	53.58	50.22	47.39	46.35	34.47
Net Gains on Disposal of Properties	29.72	21.58	8.48	16.76	0.18
Interest Income	0.14	0.12	3.21	0.3	0.73
Interest Expense	-33.67	-34.04	-32.87	-27.19	-24.56
Other Non-Operating Income (Expense)	1.28	-	-	-	-
Total Non-Operating Income (Expense)	-2.54	-12.34	-21.18	-10.13	-23.66
Pretax Income	51.04	37.88	26.21	36.22	10.81
Provision for Income Taxes	0.48	0.45	0.45	0.42	0.39
Net Income	49.93	36.89	19.18	35.27	12.05
Minority Interest in Earnings	0.63	0.48	0.27	1.06	0.41
Earnings From Discontinued Operations	-	-	-	-	3.67
Net Income to Common	49.93	36.89	19.18	35.27	12.05
Net Income Growth	35.33%	92.35%	-45.62%	192.75%	99.67%
Shares Outstanding (Basic)	51	50	50	49	45
Shares Outstanding (Diluted)	52	51	51	50	46
Shares Change (YoY)	1.89%	1.05%	1.73%	7.80%	7.78%
EPS (Basic)	0.98	0.73	0.39	0.72	0.26
EPS (Diluted)	0.95	0.72	0.38	0.71	0.26
EPS Growth	31.94%	89.47%	-46.48%	173.08%	85.71%
Free Cash Flow	-59.75	-19.93	5.07	3.99	-44.19
Free Cash Flow Growth	-	-	26.96%	-	-
Free Cash Flow Per Share	-1.14	-0.39	0.10	0.08	-0.95
Dividends Per Share	0.540	0.491	0.480	0.467	0.428
Dividend Growth	9.89%	2.38%	2.67%	9.14%	-28.61%
Gross Margin	68.83%	70.20%	68.73%	68.95%	68.63%
Operating Margin	33.31%	32.55%	32.24%	33.25%	27.49%
Profit Margin	31.43%	24.26%	17.53%	25.68%	8.31%
FCF Margin	-37.14%	-12.92%	3.45%	2.86%	-35.25%
EBITDA	89.51	85.12	80.35	78.06	63.42
EBITDA Margin	55.64%	55.17%	54.67%	55.99%	50.59%
EBIT	53.58	50.22	47.39	46.35	34.47
EBIT Margin	33.31%	32.55%	32.24%	33.25%	27.49%
Effective Tax Rate	0.94%	1.19%	1.72%	1.17%	3.56%

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

SEC Filings: 10-K · 10-Q