Orion Properties Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Orion Properties 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

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	53.5	53.5	79.7	208	195	165	148
General and administrative	2.04	2.05	3.83	15.9	18.7	20.1	20.3
Other non-operating income	-3.32	-2.93	-8.11	-28.6	-29.7	-33.5	-42.5
Pre-tax income	15.3	-1.9	-47.3	-97.3	-56.9	-103	-139
Income tax	0	0	0.16	0.21	0.46	0.21	0.26
Net income to minority interests	0	0	0.02	0.02	-0.01	0.04	0.02
Net income	15.3	-1.9	-47.5	-97.5	-57.3	-103	-139
EPS, basic	0.27	-0.03	-0.84	-1.72	-1.02	-1.84	-2.48
EPS, diluted	0.27	-0.03	-0.84	-1.72	-1.02	-1.84	-2.48
Shares, basic (weighted)	56.6	56.6	56.6	56.6	56.4	55.9	56.2
Shares, diluted (weighted)	56.6	56.6	56.6	56.6	56.4	55.9	56.2

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0	0	29.3	20.6	22.5	15.6	22.4
Lease right-of-use assets			10.2	10.6	10.9	10.2	9.4
Intangible assets		28.7	298	203	126	95.9	75.9
Total assets		546	1,759	1,571	1,424	1,336	1,171
Short-term debt			354	0
Total liabilities		49.3	671	595	537	571	546
Total debt		37.1	617	530	471	492	465
Paid-in capital		0	1,145	1,147	1,145	1,148	1,152
Retained earnings		0	-58.7	-179	-259	-384	-528
Other comprehensive income		0	0.3	6.31	-0.26	-0.02	-0.01
Shareholders' equity		497	1,087	974	886	764	623
Minority interests		0	1.37	1.39	1.38	1.34	1.3
Total equity	508	497	1,088	976	887	765	625
Total liabilities and equity		546	1,759	1,571	1,424	1,336	1,171
Shares outstanding			56.6	56.6	55.8	56	56.3

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	15.3	-1.9	-47.5	-97.5	-57.3	-103	-139
Depreciation and amortization	26.9	26	43.9	131	109	101	58.7
Stock-based compensation	0	0	0.07	1.76	2.73	3.76	3.9
Change in payables	-0.71	-0.19	11.6	6.8	1.2	-3.12	-2.07
Cash from operations	40	42.3	56.1	114	89.1	54.3	23.6
Cash from investing	-0.54	-0.46	-12.3	22.5	5.29	-51.3	16.8
Share buybacks		0	0	0	-5.02	0	0
Dividends paid					-22.6	-22.4	-8.97
Cash from financing	-38.6	-41.7	-18.4	-111	-92.5	-3.03	-36.9
Net change in cash	0.87	0.2	25.4	26	1.89	-0.03	3.47
Interest paid	3.76	3.48	2.41	25.1	25.3	29	27.9
Income taxes paid	0	0	0.1	0.63	0.46	0.21	0.2

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 $2.51 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Pre-tax margin	-65.5%	Pre-tax income / revenue.
Net margin	-65.7%	Net income / revenue.
Operating cash flow margin	15.8%	Cash from operations / revenue.
Return on equity (ROE)	-14.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-8.2%	Net income / average total assets.
Stock-based pay / revenue	2.8%	Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue	38.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-10.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-10.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	22.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-56.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-40.9%	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	-11.0%	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	-18.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-13.8%	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	4.6%	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	-12.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-9.3%	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	16.5%	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	0.6%	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	-0.2%	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	-0.1%	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
Debt / equity	0.69x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	38.3%	Total debt / total assets.
Liabilities / assets	44.4%	Total liabilities / total assets.
Net debt	$419.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets	6.8%	(Goodwill + intangible assets) / total assets.
Tangible book value	$554.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.13x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$1.62	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	$2.46	Revenue / diluted weighted shares.
Operating cash flow per share	$0.39	Cash from operations / diluted weighted shares.
Book value per share	$11.09	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$9.73	Tangible book value / shares outstanding.
Cash per share	$0.30	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$143.2M	Share price x shares outstanding.
Enterprise value	$562.9M	Market cap + total debt - cash - short-term investments.
P/S	1.00x	Market cap / revenue.
P/B	0.23x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.26x	Market cap / tangible book value, when positive.
P/OCF	6.33x	Market cap / cash from operations, when positive.
EV/Sales	3.94x	Enterprise value / revenue.
Earnings yield	-65.5%	Net income / market cap (the inverse of P/E).

What was Orion Properties Inc.'s revenue in fiscal 2025?

Orion Properties Inc. reported revenue of $147.6M for fiscal 2025, 10.4% lower than the year before.

Was Orion Properties Inc. profitable in fiscal 2025?

No. It reported a net loss of $139.3M.

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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