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Seaport Entertainment Group Inc. owns, develops, and operates a portfolio of entertainment and real estate assets primarily in New York City and Las Vegas. The company operates through three segments: Hospitality; Entertainment; and Landlord Operations. The Hospitality segment operates fine dining and casual dining restaurants, cocktail bars, and nightlife and entertainment venues under The Fulton, Mister Dips, Carne Mare, Malibu Farm, Gitano, and The Lawn Club brands. The Entertainment segment includes the Las Vegas Aviators Triple-A Minor League Baseball team, the Las Vegas Ballpark, the Fashion Show Mall Air Rights, events, and concerts, as well as various sponsorship agreements across the Seaport and the Las Vegas Ballpark. The Landlord Operations segment engages in the holding of ownership interests in and operation of physical real estate assets, such as restaurant, retail, office, and entertainment properties, as well as residential units. Seaport Entertainment Group Inc. was incorporated in 2024 and is headquartered in New York, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $130M | $-75M | $-117M | $-75M | -25.0% | 18.3% | - |
| 2024 | $110M | $-67M | $-153M | $-59M | -26.8% | -4.0% | - |
| 2023 | $115M | $-36M | $-838M | $-70M | -217.7% | -3.5% | - |
| 2022 | $119M | $-56M | $-111M | $-42M | -10.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 119.05 | 114.85 | 110.22 | 130.41 |
| Cost Of Revenue | 76.80 | 87.64 | 86.04 | 128.36 |
| Gross Profit | 42.24 | 27.21 | 24.18 | 2.05 |
| Operating Expense | 108.92 | 111.39 | 126.37 | 109.16 |
| Operating Income | -66.67 | -84.17 | -102.19 | -107.11 |
| EBITDA | -56.44 | -35.74 | -67.40 | -74.92 |
| EBIT | -103.80 | -84.17 | -102.19 | -107.11 |
| Pretax Income | -107.81 | -840.25 | -152.62 | -115.34 |
| Tax Provision | 3.47 | -2.19 | 0 | 0 |
| Net Income | -111.28 | -838.07 | -153.21 | -116.74 |
| Net Income Common Stockholders | -111.28 | -838.07 | -153.21 | -116.74 |
| Total Expenses | 185.72 | 199.02 | 212.41 | 237.52 |
| Interest Expense | 4.01 | 2.65 | 6.75 | 0 |
| Selling General And Administration | 16.98 | 30.54 | 63.27 | 42.78 |
| Normalized EBITDA | -56.44 | 636.80 | -65.84 | -63.89 |
| Normalized Income | -111.28 | -167.28 | -151.65 | -105.70 |
| Basic EPS | -7.61 | -57.35 | -16.82 | 0 |
| Diluted EPS | -7.61 | -57.35 | -16.82 | 0 |
| Tax Effect Of Unusual Items | 0 | -1.75 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0 | 0 | 0 |
| Total Unusual Items | 0 | -672.54 | -1.56 | -11.04 |
| Total Unusual Items Excluding Goodwill | 0 | -672.54 | -1.56 | -11.04 |
| Net Income From Continuing Operation Net Minority Interest | -111.28 | -838.07 | -153.21 | -116.74 |
| Reconciled Depreciation | 47.36 | 48.43 | 34.78 | 32.19 |
| Reconciled Cost Of Revenue | 76.80 | 87.64 | 86.04 | 128.36 |
| Net Interest Income | -4.01 | -3.17 | -6.75 | 0.46 |
| Net Income From Continuing And Discontinued Operation | -111.28 | -838.07 | -153.21 | -116.74 |
| Total Operating Income As Reported | -66.67 | -756.66 | -102.19 | -118.15 |
| Diluted Average Shares | 14.61 | 14.61 | 9.11 | 0 |
| Basic Average Shares | 14.61 | 14.61 | 9.11 | 0 |
| Diluted NI Availto Com Stockholders | -111.28 | -838.07 | -153.21 | -116.74 |
| Minority Interests | 0 | 0 | -0.59 | -1.40 |
| Net Income Including Noncontrolling Interests | -111.28 | -838.07 | -152.62 | -115.34 |
| Net Income Continuous Operations | -111.28 | -838.07 | -152.62 | -115.34 |
| Other Income Expense | -37.12 | -752.91 | -43.69 | -8.68 |
| Other Non Operating Income Expenses | 0 | -1.23 | 0 | 0 |
| Special Income Charges | 0 | -672.54 | -1.56 | -11.04 |
| Gain On Sale Of Ppe | 0 | 0 | 0 | -11.04 |
| Other Special Charges | 0 | 0.05 | 1.56 | 0 |
| Impairment Of Capital Assets | 0 | 672.49 | 0 | 0 |
| Earnings From Equity Interest | -37.12 | -80.38 | -42.12 | 2.35 |
| Net Non Operating Interest Income Expense | -4.01 | -3.17 | -6.75 | 0.46 |
| Total Other Finance Cost | 0 | 3.17 | 6.75 | -0.46 |
| Interest Expense Non Operating | 4.01 | 2.65 | 6.75 | 0 |
| Other Operating Expenses | 43.17 | 32.42 | 28.32 | 34.19 |
| Provision For Doubtful Accounts | 1.41 | 0.46 | 2.36 | 0 |
| Depreciation Amortization Depletion Income Statement | 47.36 | 48.43 | 34.78 | 32.19 |
| Depreciation And Amortization In Income Statement | 47.36 | 48.43 | 34.78 | 32.19 |
| General And Administrative Expense | 16.98 | 30.54 | 63.27 | 42.78 |
| Other Gand A | 16.98 | 30.54 | 63.27 | 42.78 |
| Operating Revenue | 118.10 | 111.97 | 108.14 | 128.28 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Seaport Entertainment Group Inc.this co. | SEG | $286M | - | 0.62 | -25.0% | -5.37 |
| Transcontinental Realty Investors, Inc. | TCI | $322M | 23.26 | 0.38 | 1.6% | 85.49 |
| Ready Capital Corporation | RC | $302M | - | 0.21 | -13.9% | - |
| Maui Land & Pineapple Company, Inc. | MLP | $302M | - | 9.09 | -32.0% | -29.23 |
| The RMR Group Inc. | RMR |
| $296M |
| 12.76 |
| 1.27 |
| 4.4% |
| 6.01 |
| Ares Commercial Real Estate Corporation | ACRE | $287M | - | 0.56 | -0.2% | - |
| SITE Centers Corp. | SITC | $287M | 1.63 | 0.86 | 53.1% | 4.74 |
| BRT Apartments Corp. | BRT | $268M | - | 1.51 | -6.7% | 14.41 |
| NexPoint Diversified Real Estate Trust | NXDT | $254M | - | 0.36 | -17.3% | 37.13 |
| Peer Median | - | 12.76 | 0.71 | -3.5% | 10.21 | |