Stocks TPTS Financial statements
Financial statementsTerra Property Trust, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Terra Property Trust, 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
| FY2020 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|
| Revenue | 51.4 | 50.3 | 46.7 | 56.6 | 67.9 | 49.7 | 35.4 |
| Operating expenses | 22.6 | 26.7 | 38.9 | ||||
| Operating income | 28.8 | 23.7 | 7.77 | 10.8 | -24.5 | 3.94 | -1.32 |
| Interest expense | 3.09 | 2.98 | 1.58 | 14.8 | 28.1 | 25.1 | 13.5 |
| Other non-operating income | -19.7 | 18.4 | -20.1 | -17.8 | -32.4 | -41.1 | -26.1 |
| Pre-tax income | -37.2 | -27.4 | |||||
| Income tax | 0 | 0.43 | |||||
| Net income | 9.03 | 5.24 | -12.4 | -6.95 | -56.9 | -37.2 | -27.8 |
| EBITDA | 32.6 | 28.3 | 11.8 | 17.4 | -17.5 | 11.3 | 2.52 |
| EPS, basic | 0.60 | 0.28 | -0.63 | -0.34 | -2.34 | -1.53 | -1.14 |
| EPS, diluted | 0.60 | 0.28 | -0.63 | -0.34 | -2.34 | -1.53 | -1.14 |
| Shares, basic (weighted) | 15 | 18.8 | 19.5 | 20.7 | 24.3 | 24.3 | 24.3 |
| Shares, diluted (weighted) | 15 | 18.8 | 19.5 | 20.7 | 24.3 | 24.3 | 24.3 |
| Dividend per share | 2.03 | 1.16 | 0.88 | 0.78 | 0.76 | 0.76 | 0.48 |
Balance sheet
| FY2020 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | 29.6 | 18.6 | 35.8 | 28.6 | 10.7 | 8.58 | 33.2 |
| Lease right-of-use assets | 16.1 | 16.1 | 27.4 | 27.4 | 0 | ||
| Intangible assets | 12.8 | 9.79 | 7.45 | 2.57 | 9.87 | 5.64 | 1.85 |
| Total assets | 527 | 588 | 694 | 813 | 671 | 543 | 352 |
| Accounts payable | 1.75 | 3.97 | 1.26 | 1.45 | 2.41 | 2.19 | 2.96 |
| Total liabilities | 280 | 285 | 420 | 491 | 429 | 357 | 205 |
| Total debt | 152 | 294 | 439 | 409 | 326 | 179 | |
| Paid-in capital | 302 | 373 | 373 | 444 | 444 | 444 | 444 |
| Retained earnings | -54.5 | -70.4 | -99.9 | -123 | -203 | -259 | -298 |
| Other comprehensive income | 0 | 0 | -0.19 | 0 | |||
| Shareholders' equity | 248 | 303 | 274 | 322 | 242 | 186 | 146 |
| Total equity | 248 | 303 | 274 | 322 | 242 | 186 | 146 |
| Total liabilities and equity | 527 | 588 | 694 | 813 | 671 | 543 | 352 |
| Shares outstanding | 15.1 | 19.5 | 19.5 | 0 |
Cash flow statement
| FY2020 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|---|---|
| Net income | 9.04 | 5.26 | -12.4 | -6.95 | -56.9 | -37.2 | -27.8 |
| Depreciation and amortization | 3.79 | 4.64 | 3.99 | 6.53 | 6.97 | 7.36 | 3.84 |
| Change in payables | 0.73 | 2.25 | -2.7 | -0.55 | 1.12 | -0.22 | 0.78 |
| Cash from operations | 17.5 | 7.93 | 4.11 | 0.4 | 8.61 | -3.26 | 1.91 |
| Capital expenditures | 0 | -0.13 | 0 | ||||
| Acquisitions | 0 | -0.01 | 0 | ||||
| Purchases of investments | 0 | -6.04 | -6.48 | -0.14 | -7.91 | 0 | |
| Sales and maturities of investments | 0 | 6.02 | 6.61 | 1.26 | 2.42 | 3.55 | |
| Cash from investing | -4.44 | -78.2 | -87.7 | -49.1 | -10 | 102 | 181 |
| Debt repaid | -0.39 | -0.59 | -12.1 | -2.71 | |||
| Stock issued | 3.62 | 0 | |||||
| Share buybacks | 0 | -3.62 | 0 | ||||
| Dividends paid | -30.4 | -21.2 | -17.1 | -16.1 | -18.6 | -18.6 | -11.6 |
| Cash from financing | 8.95 | 52.7 | 102 | 34.1 | -15.5 | -99 | -164 |
| Net change in cash | 22 | -17.6 | 18.2 | -14.6 | -16.9 | -0.57 | 18.9 |
| Free cash flow | 0.4 | 8.48 | -3.26 | ||||
| Interest paid | 17.3 | 16.3 | 22.2 | 22.6 | 34.4 | 33.6 | 24.1 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Operating margin | -75.7% | Operating income / revenue. |
| EBITDA margin | -63.2% | EBITDA (operating income + depreciation and amortization) / revenue. |
| Net margin | -164.0% | Net income / revenue. |
| Operating cash flow margin | -5.4% | Cash from operations / revenue. |
| Return on equity (ROE) | -28.7% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | -14.6% | Net income / average total assets. |
| Return on invested capital (ROIC) | -5.8% | 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 | 12.4% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | -28.7% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | -14.5% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | -6.8% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating income growth, 1y | -133.4% | Operating income vs the same period a year earlier. Only from a positive base. |
| EBITDA growth, 1y | -77.6% | EBITDA vs the same period a year earlier. Only from a positive base. |
| EBITDA CAGR, 3y | -47.4% | Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EBITDA CAGR, 5y | -38.3% | Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 3y | 68.0% | 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 | -24.7% | 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 | -36.8% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | -14.9% | Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Dividend per share CAGR, 5y | -16.2% | Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | -21.1% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | -23.1% | 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 | -13.6% | 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 | -35.2% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | -24.4% | 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 | -9.8% | 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 | 5.5% | 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 | 5.3% | 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 / equity | 0.88x | Total debt / shareholders' equity. Not shown when equity is negative. |
| Debt / assets | 44.6% | Total debt / total assets. |
| Liabilities / assets | 49.3% | Total liabilities / total assets. |
| Net debt | $101.7M | Total debt - cash - short-term investments. Negative means more cash than debt. |
| Interest coverage | -1.79x | Operating income / interest expense. |
| Goodwill and intangibles / assets | 0.1% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $126.2M | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.09x | Revenue / average total assets. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | -$1.49 | 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 | $0.91 | Revenue / diluted weighted shares. |
| Operating cash flow per share | -$0.05 | Cash from operations / diluted weighted shares. |
| Book value per share | $5.20 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $5.19 | Tangible book value / shares outstanding. |
| Cash per share | $0.40 | (Cash + short-term investments) / shares outstanding. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $378.0M | Share price x shares outstanding. |
| Enterprise value | $479.7M | Market cap + total debt - cash - short-term investments. |
| P/S | 17.1x | Market cap / revenue. |
| P/B | 2.99x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 2.99x | Market cap / tangible book value, when positive. |
| EV/Sales | 21.6x | Enterprise value / revenue. |
| Earnings yield | -9.6% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 1.5% | Dividends paid over the period / market cap. |
| Shareholder yield | 1.5% | (Dividends paid + share buybacks) / market cap. |
What was Terra Property Trust, Inc.'s revenue in fiscal 2025?
Terra Property Trust, Inc. reported revenue of $35.4M for fiscal 2025, 28.7% lower than the year before.
Was Terra Property Trust, Inc. profitable in fiscal 2025?
No. It reported a net loss of $27.8M.