Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Belpointe PREP, LLC 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
0.1
1
1.39
2.25
2.68
9.19
General and administrative
0.11
2.92
5.8
6.34
5.11
6.17
Operating expenses
0.2
4.65
10.9
16.6
26.9
47.3
Interest expense
0.1
0.1
Other non-operating income
-0.01
0.61
1.38
0.03
0.42
-1.98
Pre-tax income
-3.04
-8.13
-14.4
-23.9
-40.1
Income tax
0.11
0
0
Net income to minority interests
0.09
-0.56
-0.01
-0.03
Net income
-0.11
-3.14
-7.68
-14.4
-23.9
-40
EPS, basic
-1,120.00
-7.64
-2.25
-4.04
-6.56
-10.72
EPS, diluted
-1,120.00
-7.64
-2.25
-4.04
-6.56
-10.72
Shares, basic (weighted)
0
0.41
3.42
3.55
3.64
3.74
Shares, diluted (weighted)
0
0.41
3.42
3.55
3.64
3.74
Balance sheet
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
6.58
192
143
20.1
24.7
24.3
Property, plant and equipment
0.7
Intangible assets
1.99
9.29
8.7
7.47
7.34
7.17
Total assets
37.3
341
354
382
518
564
Short-term debt
35
10.8
4
Total liabilities
37.4
17.6
21.3
57.1
214
289
Total debt
19.7
177
261
Shareholders' equity
-0.1
Total equity
-0.1
Total liabilities and equity
37.3
341
354
382
518
564
Shares outstanding
0
Cash flow statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-0.11
-3.04
-8.24
-14.4
-23.9
-40.1
Depreciation and amortization
0.04
0.59
1.29
2.07
5.51
10.9
Change in payables
-0.09
-0.19
0.48
-0.25
-0.13
Cash from operations
-0.01
-2.27
-6.65
-6.95
-13.7
-25.2
Cash from investing
-28.4
-43.4
-63.5
-145
-138
-62
Debt issued
21.9
55.8
177
Debt repaid
-10.8
-51.1
Cash from financing
35
231
22.8
30.7
157
87
Net change in cash
6.58
186
-47.4
-121
5.25
-0.16
Interest paid
0
7.5
17.1
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 $43.81 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Net margin
-290.5%
Net income / revenue.
Operating cash flow margin
-174.1%
Cash from operations / revenue.
Return on assets (ROA)
-7.8%
Net income / average total assets.
D&A / revenue
82.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
243.4%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
87.6%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
146.5%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
9.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
16.8%
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
72.2%
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
2.7%
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
3.0%
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
721.3%
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 / assets
49.7%
Total debt / total assets.
Liabilities / assets
54.2%
Total liabilities / total assets.
Net debt
$263.4M
Total debt - cash - short-term investments. Negative means more cash than debt.
Goodwill and intangibles / assets
1.3%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.03x
Revenue / average total assets.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$11.20
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.
Market cap + total debt - cash - short-term investments.
P/S
11.5x
Market cap / revenue.
EV/Sales
29.0x
Enterprise value / revenue.
Earnings yield
-25.2%
Net income / market cap (the inverse of P/E).
What was Belpointe PREP, LLC's revenue in fiscal 2025?
Belpointe PREP, LLC reported revenue of $9.2M for fiscal 2025, 243.4% higher than the year before.
Was Belpointe PREP, LLC profitable in fiscal 2025?
No. It reported a net loss of $40.0M.
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.