NewLake Capital Partners, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data NewLake Capital Partners, 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

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	11.7	28.1	45	47.3	50.1	51.1
General and administrative	4.06	8.47	9.38	7.56	7.91	7.12
Operating expenses	23.7	16.6	22.4	22.5	22.9	23.8
Operating income	-10.6	11.5	22.5	24.7	26.8	27.3
Interest expense	0	0.01	0.27	0.38	0.57	0.84
Interest income	0.15	0.1	0.11
Other non-operating income	0.15	0.09	-0.16	0.37	-0.21	-0.48
Net income to minority interests	0.23	0.27	0.38	0.44	0.47	0.45
Net income	-10.7	11.2	22	24.6	26.1	26.3
EBITDA	-7.98	19.6	35.3	38.9	41.5	42.8
EPS, basic	-1.50	0.66	1.03	1.16	1.27	1.28
EPS, diluted	-1.50	0.65	1.03	1.16	1.27	1.28
Shares, basic (weighted)	7.12	17	21.4	21.2	20.6	20.6
Shares, diluted (weighted)	7.12	17.6	21.8	21.5	21	21
Dividend per share				1.57	1.70	1.72

Balance sheet

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	19.6	127	45.2	25.8	20.2	23.9
Lease right-of-use assets			0.27	0.18	0.11	0.12
Intangible assets	0	24	21.8	19.8	17.8	15.7
Total assets	144	461	454	433	432	421
Total liabilities	3.15	21.5	23.3	21.3	27.6	26.1
Paid-in capital	152	451	456	445	447	447
Retained earnings	-17.2	-23.6	-32.5	-40.9	-50.1	-59.4
Shareholders' equity	135	428	424	405	397	388
Minority interests	6.27	11.8	7.39	7.37	7.21	6.75
Total equity	141	439	431	412	404	395
Total liabilities and equity	144	461	454	433	432	421
Shares outstanding	7.76	21.2	21.4	20.5	20.5	20.6

Cash flow statement

	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-10.4	11.6	22.4	25	26.6	26.8
Depreciation and amortization	2.6	8.1	12.8	14.3	14.7	15.5
Stock-based compensation	4.72	2.02	1.49	1.44	1.67	1.07
Change in payables		-1.84	0.26	-0.54	0.4	-0.21
Cash from operations	7.35	26.7	37	40.1	43.3	42.5
Acquisitions	0	-2.14	0
Cash from investing	-65.1	-39.9	-86.5	-12.8	-19.1	-1.49
Debt repaid		0	-1.8	-1	-1	0
Stock issued	15.7	133	0
Share buybacks			0	-11.8	0
Dividends paid	-5.16	-11.7	-29	-33.1	-34.3	-35.3
Cash from financing	10.4	121	-32.5	-46.6	-29.8	-37.2
Net change in cash	-47.3	107	-81.9	-19.3	-5.63	3.72
Interest paid		0	0.03	0.14	0.3	0.56

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $13.82 on November 10, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	51.4%	Operating income / revenue.
EBITDA margin	82.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	49.4%	Net income / revenue.
Operating cash flow margin	84.5%	Cash from operations / revenue.
Return on equity (ROE)	6.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	5.9%	Net income / average total assets.
Return on invested capital (ROIC)	5.6%	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	2.6%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	31.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	1.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	4.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	34.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	1.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	6.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	3.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	6.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	0.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	6.2%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	0.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	7.5%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-2.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	4.7%	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	42.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	1.2%	Dividend per share vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-2.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-2.9%	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	23.5%	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	-2.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.5%	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	23.9%	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	0.1%	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	-1.3%	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	24.1%	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
Liabilities / assets	6.3%	Total liabilities / total assets.
Interest coverage	28.6x	Operating income / interest expense.
Goodwill and intangibles / assets	3.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$367.5M	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	$1.16	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	$2.35	Revenue / diluted weighted shares.
Operating cash flow per share	$1.98	Cash from operations / diluted weighted shares.
Book value per share	$18.57	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$17.86	Tangible book value / shares outstanding.
Cash per share	$1.25	(Cash + short-term investments) / shares outstanding.
Payout ratio	145.1%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$284.4M	Share price x shares outstanding.
Enterprise value	$258.7M	Market cap + total debt - cash - short-term investments.
P/E	11.7x	Market cap / net income. Only when net income is positive.
P/S	5.77x	Market cap / revenue.
P/B	0.74x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.77x	Market cap / tangible book value, when positive.
P/OCF	6.82x	Market cap / cash from operations, when positive.
EV/Sales	5.24x	Enterprise value / revenue.
EV/EBIT	10.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	6.33x	Enterprise value / EBITDA, when both are positive.
Earnings yield	8.6%	Net income / market cap (the inverse of P/E).
Dividend yield	12.4%	Dividends paid over the period / market cap.
Shareholder yield	12.4%	(Dividends paid + share buybacks) / market cap.
PEG	1.55x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was NewLake Capital Partners, Inc.'s revenue in fiscal 2025?

NewLake Capital Partners, Inc. reported revenue of $51.1M for fiscal 2025, 1.9% higher than the year before.

Was NewLake Capital Partners, Inc. profitable in fiscal 2025?

Yes. Net income was $26.3M, a net margin of 51.5%.

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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