TRANSCONTINENTAL REALTY INVESTORS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TRANSCONTINENTAL REALTY INVESTORS 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	118	125	149	48.1	57	40.8	36.7	49.9	47.1	49.1
General and administrative	5.48	6.27	11.4	8.7	9.29	12.4	9.94	9.2	5.45	5.83
Operating expenses	101	105	105	55.7
Operating income	17.6	20.1	44.3	-7.65	-0.03	-16.2	-9.28	-9.99	-5.77	-6.34
Interest expense	53.1	59.9	58.9	31.8	29.4	23	17.3	9.29	7.64	6.67
Interest income	14.7	13.9	15.8	19.6	18.7	18	24.2	30	21.9	17.1
Other non-operating income	-36.6	-50	-1.4	-35.2
Pre-tax income	-19	-29.9	14.7	-42.9
Income tax	0.02	0.18	3.21	-2	0	-1.01	103	1.94	1.93	7.06
Income from continuing operations	0.04	-15.3	183	-26.1
Net income to minority interests	0.29	0.5	1.59	0.78	0.8	0.68	0.74	1.31	0.8	0.63
Net income	0.04	-15.8	181	-26.9	6.67	9.4	468	5.94	5.86	13.8
EBITDA	41.3	45.7	75	7.93	18.6	-1.13	3.83	4.58	6.76	6.29
EPS, basic	-0.10	-1.92	20.71	-3.09	0.77	1.09	54.20	0.69	0.68	1.60
EPS, diluted	-0.10	-1.92	20.71	-3.09	0.77	1.09	54.20	0.69	0.68	1.60
Shares, basic (weighted)			8.72	8.72	8.64	8.64	8.64	8.64	8.64	8.64
Shares, diluted (weighted)	8.72	8.72	8.72	8.72	8.64	8.64	8.64	8.64	8.64	8.64
Dividend per share				0.00	0.00	0.00	0.00	0.00	0.00	0.00

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	17.5	42.7	36.4	51.2	36.8	50.7	113	36.7	19.9	14.1
Short-term investments					0	16	120	90.4	79.8	75
Property, plant and equipment				380
Total assets	1,186	1,313	862	866	879	788	1,218	1,043	1,071	1,133
Accrued liabilities				7.23
Long-term debt	839	891	286	253
Total liabilities	961	1,105	482	512	518	417	378	196	218	266
Total debt	842	894	277	242	236	177	184	179	182	211
Paid-in capital	270	269	258	258	260	260	260	261	261	262
Retained earnings	-64.1	-79.9	102	74.7	81.3	90.7	559	565	571	585
Treasury stock	-0	-0	-0	-0	-0	0
Shareholders' equity	206	189	360	333	342	351	819	826	832	847
Minority interests	18.6	19.1	20.7	21.5	19.7	20.4	21.1	20.9	20.5	19.4
Total equity	224	208	380	354	362	372	841	847	853	866
Total liabilities and equity	1,186	1,313	862	866	879	788	1,218	1,043	1,071	1,133
Shares outstanding	8.72	8.72	8.72	8.64	8.64	8.64	8.64	8.64	8.64	8.64

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	0.32	-15.3	183	-26.1	7.46	10.1	469	7.25	6.66	14.4
Depreciation and amortization	23.7	25.6	30.7	15.6	18.6	15	13.1	14.6	12.5	12.6
Deferred income tax			2	-2
Change in payables			-80.4	-1.36	-0.62	-4.71	47	-31.9	6.83	0.01
Cash from operations	2.21	-25.1	-181	-35.7	5.63	-11	-45.4	-31.1	1.31	-2.89
Capital expenditures	-79.7	-37	-10.6
Purchases of investments				0	0	-16	-278	-91	-59.1	-84.6
Cash from investing	-66.9	-98.3	148	-9.6	0.38	100	307	26.8	-41.5	-35.8
Debt issued			59.2	78.1	19.8	0	0
Debt repaid			0	-21.7	-19.6	-53.7	-43.8	-131	0	0
Cash from financing	61.2	156	51.8	22	-2.31	-104	-112	-139	1.66	27.5
Net change in cash	-3.5	32.6	18.2	-23.3	3.71	-14.2	150	-143	-38.6	-11.2
Free cash flow	-77.5	-62.1	-192
Interest paid	44	49.8	61.6	29.4	27.1	24.5	17.8	10.8	6.19	5.36
Income taxes paid					2.29	0.68	54	38.1	3.21	2.12

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 $42.88 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	-18.3%	Operating income / revenue.
EBITDA margin	8.8%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	16.1%	Net income / revenue.
Operating cash flow margin	4.2%	Cash from operations / revenue.
Return on equity (ROE)	1.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.7%	Net income / average total assets.
Return on invested capital (ROIC)	-0.7%	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%.
D&A / revenue	27.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	4.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	10.2%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-3.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-6.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	18.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-19.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	135.5%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-69.1%	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	15.7%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	135.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-69.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	15.8%	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	-320.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	1.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	1.1%	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	19.9%	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	5.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.4%	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	5.2%	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	0.0%	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	0.0%	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	0.0%	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	0.25x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	19.0%	Total debt / total assets.
Liabilities / assets	23.5%	Total liabilities / total assets.
Net debt	$130.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	29.5x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	-1.04x	Operating income / interest expense.
Tangible book value	$846.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.04x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.94	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	$5.80	Revenue / diluted weighted shares.
Operating cash flow per share	$0.24	Cash from operations / diluted weighted shares.
Book value per share	$97.93	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$97.93	Tangible book value / shares outstanding.
Cash per share	$9.74	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$376.2M	Share price x shares outstanding.
Enterprise value	$506.6M	Market cap + total debt - cash - short-term investments.
P/E	46.7x	Market cap / net income. Only when net income is positive.
P/S	7.51x	Market cap / revenue.
P/B	0.44x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.44x	Market cap / tangible book value, when positive.
P/OCF	180x	Market cap / cash from operations, when positive.
EV/Sales	10.1x	Enterprise value / revenue.
EV/EBITDA	115x	Enterprise value / EBITDA, when both are positive.
Earnings yield	2.1%	Net income / market cap (the inverse of P/E).

What was TRANSCONTINENTAL REALTY INVESTORS INC's revenue in fiscal 2025?

TRANSCONTINENTAL REALTY INVESTORS INC reported revenue of $49.1M for fiscal 2025, 4.2% higher than the year before.

Was TRANSCONTINENTAL REALTY INVESTORS INC profitable in fiscal 2025?

Yes. Net income was $13.8M, a net margin of 28.1%.

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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