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Net Lease Office Properties is a publicly traded real estate investment trust that owns a portfolio of high-quality, single-tenant properties located in the U.S. and net leased to corporate tenants operating across a variety of industries.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 5 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $119M | $-93M | $-145M | $64M | -49.4% | -16.4% | 58.8% |
| 2024 | $142M | $53M | $-91M | $72M | -15.7% | -18.7% | -30.6% |
| 2023 | $175M | $-7M | $-132M | $71M | -19.5% | 12.0% | -934.9% |
| 2022 | $156M | $109M | $16M | $84M | 1.4% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2025 |
|---|---|
| Total Revenue | 118.92 |
| Operating Revenue | 118.92 |
| Cost Of Revenue | 35.62 |
| Gross Profit | 83.30 |
| Operating Expense | 47.99 |
| Selling General And Administration | 7.31 |
| Total Expenses | 83.60 |
| Operating Income | 35.31 |
| EBITDA | -93.46 |
| Normalized EBITDA | 76.66 |
| EBIT | -132.26 |
| Interest Income | 2.10 |
| Interest Expense | 12.74 |
| Net Interest Income | -10.64 |
| Other Non Operating Income Expenses | 0.44 |
| Other Income Expense | -169.68 |
| Interest Income Non Operating | 2.10 |
| Interest Expense Non Operating | 12.74 |
| Net Non Operating Interest Income Expense | -10.64 |
| Pretax Income | -145 |
| Tax Provision | 0.16 |
| Tax Rate For Calcs | 0 |
| Tax Effect Of Unusual Items | -35.73 |
| Net Income Continuous Operations | -145.16 |
| Net Income From Continuing And Discontinued Operation | -145.26 |
| Net Income From Continuing Operation Net Minority Interest | -145.26 |
| Net Income | -145.26 |
| Net Income Common Stockholders | -145.26 |
| Net Income Including Noncontrolling Interests | -145.16 |
| Normalized Income | -10.87 |
| Diluted NI Availto Com Stockholders | -145.26 |
| Basic Average Shares | 14.81 |
| Diluted Average Shares | 14.81 |
| Reconciled Depreciation | 38.80 |
| Reconciled Cost Of Revenue | 32.69 |
| Total Unusual Items | -170.12 |
| Total Unusual Items Excluding Goodwill | -170.12 |
| Minority Interests | -0.10 |
| Special Income Charges | -141.11 |
| Other Special Charges | 0.30 |
| Impairment Of Capital Assets | 140.81 |
| Restructuring And Mergern Acquisition | - |
| Gain On Sale Of Security | -29.01 |
| Depreciation Amortization Depletion Income Statement | 35.88 |
| Depreciation And Amortization In Income Statement | 35.88 |
| General And Administrative Expense | 7.31 |
| Other Gand A | 7.31 |
| Other Operating Expenses | 4.80 |
| Selling And Marketing Expense | 0 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| NLOPthis co. | NLOP | $177M | -1.22 | 0.60 | -49.4% | -0.85 |
| Stratus Properties Inc. | STRS | $213M | 17.75 | 1.04 | 5.9% | 17.95 |
| Angel Oak Mortgage REIT, Inc. | AOMR | $203M | 4.60 | 0.76 | 16.5% | - |
| Seven Hills Realty Trust | SEVN | $192M | 12.57 | 0.58 | 4.6% | - |
| Modiv Industrial, Inc. | MDV | $189M | 176.51 | 1.16 |
| - |
| - |
| - |
| 0.7% |
| 13.29 |
| Braemar Hotels & Resorts Inc. | BHR | $183M | -8.22 | 1.32 | -16.1% | 7.16 |
| Strawberry Fields REIT, Inc. | STRW | $171M | 22.53 | 14.10 | 62.6% | 7.15 |
| Douglas Elliman Inc. | DOUG | $165M | 10.81 | 0.89 | 8.3% | 4.85 |
| Clipper Realty Inc. | CLPR | $139M | -6.98 | -4.52 | 64.8% | 43.27 |
| Peer Median | - | 11.69 | 0.97 | 7.1% | 10.23 | |