CTO Realty Growth, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CTO Realty Growth, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	65.9	38.7	43.7	44.9	56.4	70.3	82.3	109	125	150
Cost of revenue	20.3	8.34	8.76	7.11	15.2	22.4	22.9	30.2	33.2	37.9
Gross profit	45.6	30.3	34.9	37.8	41.2	47.8	59.5	78.9	91.3	112
General and administrative	10.3	10.3	9.79	9.82	11.6	11.2	12.9	14.2	16.3	18.5
Operating expenses	40.7	47.1	45.2
Operating income	38	7.74	31.4	34.2	12.3	23.3	10.7	26.5	17.6	34
Interest expense	8.75	8.52	10.4	12.5	10.8	8.93	11.1	22.4	22.5	26.9
Pre-tax income	28.7	-0.74	21	22.1	-4.99	26.9	0.33	6.13	-2.3	10.5
Income tax	12.1	-22.5	6.03	5.47	-83.5	-3.08	-2.83	0.6	-0.34	0.45
Net income to minority interests	-0.05
Net income	16.3	41.7	37.2	115	78.5	29.9	3.16	5.53	-1.97	10.1
EBITDA	45.9	20.1	47.1	50	31.3	43.9	39.5	70.7	82.7	94
EPS, basic	0.95	2.51	2.25	7.67	5.56	1.56	-0.09	0.03	-0.35	0.08
EPS, diluted	0.95	2.49	2.24	7.66	5.56	1.56	-0.09	0.03	-0.35	0.08
Shares, basic (weighted)	17.1	16.6	16.5	15	14.1	17.7	18.5	22.5	25.4	32.3
Shares, diluted (weighted)	17.1	16.7	16.6	15	14.1	17.7	18.5	22.5	25.4	32.3
Dividend per share	0.04	0.06	0.09	0.15	13.88

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	7.33	6.11	2.31	6.48	4.29	8.62	19.3	10.2	9.02	6.47
Property, plant and equipment	268	343	369	371	442
Lease right-of-use assets				0.36	0.25	0.17	0.06	0.42	0.31	0.24
Intangible assets	32.2	38.8	43.6	49	50.2	79.5	116	97.1	79.2	84.7
Total assets	409	466	556	703	667	733	987	990	1,182	1,264
Short-term debt				75	23.2
Total liabilities	260	282	345	418	316	303	482	532	569	697
Total debt	166	196	248	287	274	278	446	495	519	616
Paid-in capital	20.5	22.7	24.3	26.7	83.2	85.4	172	168	368	382
Retained earnings	137	178	213	326	340	343	316	282	232	185
Treasury stock	-15.3	-22.5	-32.3	-73.4	-77.5
Other comprehensive income	0.26	0.37	0.49	0.07	-1.91	1.52	15.8	6.89	12.5	-0.41
Shareholders' equity	148	184	212	285	351	430	505	458	613	567
Total equity	148	184	212	285	351	430	505	458	613	567
Total liabilities and equity	409	466	556	703	667	733	987	990	1,182	1,264
Shares outstanding	17.1	16.8	16.3	14.3	5.92	17.7	22.9	22.6	31.7	32.4

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	16.2	41.7	37.2	115	78.5	29.9	3.16	5.53	-1.97	10.1
Depreciation and amortization	7.93	12.3	15.8	15.8	19.1	20.6	28.9	44.2	65	60
Stock-based compensation	3.18	1.44	1.92	2.69	2.79	3.17	3.23	3.67	3.64	4.16
Deferred income tax	11.6	-20.6	5.67	5.27	-83.1	-2.8	-3.01	0.52	-0.46	0.16
Change in payables	-0.42	0.36	-0.63	0.35	-0.34	-0.37	1.87	0.21	0.52	-1.57
Cash from operations	14.3	57.5	47.8	16.4	16.9	27.6	56.1	46.3	59.9	64.6
Capital expenditures	-92.6		-114	-188	-196	-257	-385
Acquisitions	-49.9			-151	-168	-256	-298	-80.3	-224	-145
Purchases of investments				-15.5		-0.14	-2.74	-3.24	-0.45	-9.03
Sales and maturities of investments	6.25		11.1	208	85.6	129	40.8	1.17	1.66	2.47
Cash from investing	-27.6	-82.6	-77.9	103	-91.1	-103	-268	-52.5	-233	-71.5
Debt issued	70.1	63.5	106	142	66.6	315	381	149	366	405
Debt repaid	-49.1	-35.1	-56	-103	-72.3	-284	-234	-99.6	-342	-292
Stock issued	0.16							0.38	0.65	0.65
Share buybacks	-7.43	-7.21	-9.84	-41.1	-4.1	-2.21	-2.79	-6.44	-0.66	-9.36
Dividends paid	-0.68	-1	-1.48	-2.2	-14.5	-23.6	-28.9	-34.3	-40.3	-49
Cash from financing	12.8	20.5	38.7	-5.81	-26.9	72.9	201	2.77	172	30.7
Net change in cash	3.72	-1.22	8.59	114	-101	-2.48	-10.2	-3.38	-0.46	23.8
Free cash flow	-78.3		-65.9	-171	-179	-229	-329
Interest paid	6.78	7.06	8.42	10.8	9.72	7.27	9.86	21.6	21.2	26.3
Income taxes paid	0.51	0.33	0.12	1.79	-5.03	-0.41	-0.11	0.12	0.06	-0.17

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $20.72 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	74.7%	Gross profit / revenue.
Operating margin	23.5%	Operating income / revenue.
EBITDA margin	63.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	9.4%	Pre-tax income / revenue.
Net margin	9.1%	Net income / revenue.
Operating cash flow margin	44.5%	Cash from operations / revenue.
Effective tax rate	3.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	2.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.1%	Net income / average total assets.
Return on invested capital (ROIC)	2.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	2.8%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	39.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	20.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	22.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	21.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	22.3%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	23.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	22.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	93.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	47.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	22.6%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	13.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	33.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	24.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y	47.3%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-33.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS CAGR, 5y	-57.2%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	7.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	4.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	30.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-7.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	10.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	7.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	13.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	27.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	20.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	18.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	1.13x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	50.0%	Total debt / total assets.
Liabilities / assets	55.7%	Total liabilities / total assets.
Net debt	$641.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	6.54x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.30x	Operating income / interest expense.
Goodwill and intangibles / assets	6.7%	(Goodwill + intangible assets) / total assets.
Tangible book value	$488.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.12x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.43	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$4.76	Revenue / diluted weighted shares.
Operating cash flow per share	$2.12	Cash from operations / diluted weighted shares.
Book value per share	$17.28	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$14.68	Tangible book value / shares outstanding.
Cash per share	$0.25	(Cash + short-term investments) / shares outstanding.
Payout ratio	353.4%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$776.7M	Share price x shares outstanding.
Enterprise value	$1.42B	Market cap + total debt - cash - short-term investments.
P/E	55.3x	Market cap / net income. Only when net income is positive.
P/S	5.01x	Market cap / revenue.
P/B	1.35x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.59x	Market cap / tangible book value, when positive.
P/OCF	11.3x	Market cap / cash from operations, when positive.
EV/Sales	9.15x	Enterprise value / revenue.
EV/EBIT	38.9x	Enterprise value / operating income, when both are positive.
EV/EBITDA	14.5x	Enterprise value / EBITDA, when both are positive.
Earnings yield	1.8%	Net income / market cap (the inverse of P/E).
Dividend yield	6.4%	Dividends paid over the period / market cap.
Shareholder yield	6.4%	(Dividends paid + share buybacks) / market cap.

What was CTO Realty Growth, Inc.'s revenue in fiscal 2025?

CTO Realty Growth, Inc. reported revenue of $149.5M for fiscal 2025, 20.1% higher than the year before.

Was CTO Realty Growth, Inc. profitable in fiscal 2025?

Yes. Net income was $10.1M, a net margin of 6.7%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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