Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Seritage Growth Properties 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
249
241
215
169
116
117
107
20.8
17.6
18.2
General and administrative
17.5
27.9
34.8
39.2
28.8
41.9
47.6
46
30
31.9
Operating income
-30.4
-115
Interest expense
63.6
70.1
90
94.5
91.3
108
86.7
44.6
25
20.3
Pre-tax income
-90.5
-121
-115
-90.4
-153
-38.8
-120
-155
-152
-68.2
Income tax
0.51
0.27
0.32
0.2
0.25
0.2
0.47
0.04
1.58
0
Net income to minority interests
-39.5
-47.1
-41.4
-31.2
-47.9
-10.8
-46.2
Net income
-51.6
-73.8
-73.5
-59.4
-105
-28.1
-73.9
-155
-158
-73.1
EBITDA
147
148
EPS, basic
-1.64
-2.19
-2.20
-1.77
-2.87
-0.78
-1.59
-2.85
-2.82
-1.30
EPS, diluted
-1.64
-2.19
-2.20
-1.77
-2.87
-0.78
-1.59
-2.85
-2.82
-1.30
Shares, basic (weighted)
31.4
33.8
35.6
36.4
38.3
42.4
49.7
56.2
56.3
56.3
Shares, diluted (weighted)
31.4
33.8
35.6
36.4
38.3
42.4
49.7
56.2
56.3
56.3
Dividend per share
1.00
1.00
1.00
0.25
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
52
242
533
139
144
107
133
134
85.2
48.1
Lease right-of-use assets
18.5
18.8
17
16.2
14.4
11.5
10.2
Intangible assets
464
310
124
68.2
18.6
14.8
1.79
0.89
1.05
0.17
Total assets
2,712
2,776
2,876
2,751
2,649
2,414
1,842
974
678
394
Total liabilities
1,288
1,455
1,726
1,707
1,766
1,569
1,119
411
272
61
Total debt
1,167
1,202
Paid-in capital
926
1,116
1,125
1,150
1,177
1,241
1,360
1,362
1,363
1,363
Retained earnings
-121
-230
-344
-419
-529
-554
-641
-800
-959
-1,032
Shareholders' equity
805
887
781
731
649
688
720
562
404
331
Minority interests
620
434
370
312
234
157
2.13
1.17
1.35
1.38
Total equity
1,424
1,321
1,150
1,043
883
845
723
563
406
333
Total liabilities and equity
2,712
2,776
2,876
2,751
2,649
2,414
1,842
974
678
394
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-91
-121
-115
-90.6
-153
-39
-120
-155
-154
-68.2
Depreciation and amortization
177
262
227
105
96
51.2
41.1
14.5
13.1
6.28
Stock-based compensation
1.07
7.02
7.47
6.85
-3.04
1.86
2.77
2.74
1.49
0.2
Deferred income tax
-29.1
-26.5
Change in payables
12.1
-21.5
15.1
-8.01
20.8
-35.8
-21.3
-11.4
-13.1
6.14
Cash from operations
97.2
59.6
54.9
-57.7
-47.3
-136
-118
-53.1
-53.5
-34.9
Cash from investing
-62.4
37.2
-119
-299
42.9
261
586
733
127
198
Dividends paid
-39.4
-34.2
-35.7
-18
Cash from financing
-50.5
181
180
-36.4
15.4
-161
-437
-675
-125
-199
Net change in cash
-15.7
278
116
-394
11
-36.5
31.2
4.76
-52
-35.4
Interest paid
61.1
73.9
103
118
118
115
99
46
25.4
19.2
Income taxes paid
0.51
0.27
0.32
0.29
0.29
0.2
0.47
0.04
1.57
0
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 $1.82 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
-418.4%
Pre-tax income / revenue.
Net margin
-457.1%
Net income / revenue.
Operating cash flow margin
-162.8%
Cash from operations / revenue.
Return on equity (ROE)
-20.1%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-16.6%
Net income / average total assets.
Stock-based pay / revenue
0.0%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
23.0%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
3.3%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-44.6%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-31.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-18.1%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-22.8%
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
-12.6%
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
-41.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-40.2%
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
-31.7%
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
4.2%
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
8.0%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
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
$0.23
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.37
Cash from operations / diluted weighted shares.
Book value per share
$5.19
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
7.96x
Market cap / revenue.
P/B
0.35x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.35x
Market cap / tangible book value, when positive.
EV/Sales
4.20x
Enterprise value / revenue.
Earnings yield
-57.4%
Net income / market cap (the inverse of P/E).
What was Seritage Growth Properties's revenue in fiscal 2025?
Seritage Growth Properties reported revenue of $18.2M for fiscal 2025, 3.3% higher than the year before.
Was Seritage Growth Properties profitable in fiscal 2025?
No. It reported a net loss of $73.1M.
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.