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Stratus Properties Inc., a real estate company, engages in the entitlement, development, management, leasing, and sale of multi and single family residential and commercial real estate properties in the Austin, Texas area, and other select markets in Texas. The company operates through Real Estate Operations and Leasing Operations segments. Its leasing operations cover lease of space at retail and mixed-use and multi-family properties. The company was formerly known as Fm Properties Inc and changed its name to Stratus Properties Inc. in May 1998. Stratus Properties Inc. was incorporated in 1992 and is based in Austin, Texas.
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 | $30M | $17M | $12M | $-38M | 5.9% | -44.8% | 512.6% |
| 2024 | $54M | $4M | $2M | $-35M | 1.0% | 213.7% | -113.2% |
| 2023 | $17M | $-13M | $-15M | $-97M | -7.7% | -53.9% | -116.4% |
| 2022 | $37M | $-3M | $90M | $-110M | 43.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 37.50 | 17.27 | 54.18 | 29.91 |
| Operating Revenue | - | 37.50 | 17.27 | 54.18 | 29.91 |
| Cost Of Revenue | - | 31.79 | 19.05 | 43.01 | 37.07 |
| Gross Profit | - | 5.71 | -1.78 | 11.17 | -7.15 |
| Operating Expense | - | 17.57 | 15.17 | 14.95 | 14.79 |
| Selling General And Administration | - | 17.57 | 15.17 | 14.95 | 14.79 |
| Total Expenses | - | 49.35 | 34.22 | 57.96 | 51.85 |
| Operating Income | - | -11.86 | -16.95 | -3.78 | -21.94 |
| Total Operating Income As Reported | - | -7.76 | -16.95 | -2.15 | 10.79 |
| EBITDA | - | -3.07 | -12.69 | 4.10 | 16.57 |
| Normalized EBITDA | - | -7.17 | -12.69 | 2.54 | -15.61 |
| EBIT | - | -6.66 | -16.95 | -1.47 | 9.60 |
| Interest Expense | - | 0.02 | 0 | 0 | 1.52 |
| Net Interest Income | - | -0.02 | 0 | 0 | -1.52 |
| Other Non Operating Income Expenses | - | 1.10 | 1.91 | 0.76 | -0.64 |
| Other Income Expense | - | 5.20 | 1.91 | 2.32 | 31.54 |
| Interest Expense Non Operating | - | 0.02 | 0 | 0 | 1.52 |
| Net Non Operating Interest Income Expense | - | -0.02 | 0 | 0 | -1.52 |
| Pretax Income | - | -6.68 | -15.03 | -1.47 | 8.09 |
| Tax Provision | - | 0.39 | 1.52 | 0.44 | 5.28 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.86 | 0 | 0.33 | 6.76 |
| Net Income Continuous Operations | - | -7.08 | -16.49 | -1.91 | 2.80 |
| Net Income From Continuing And Discontinued Operation | - | 90.43 | -14.81 | 1.96 | 11.98 |
| Net Income From Continuing Operation Net Minority Interest | - | -6.39 | -14.81 | 1.96 | 11.98 |
| Net Income | - | 90.43 | -14.81 | 1.96 | 11.98 |
| Net Income Common Stockholders | - | 90.43 | -14.81 | 1.96 | 11.98 |
| Net Income Including Noncontrolling Interests | - | 89.74 | -16.49 | -1.91 | 2.80 |
| Normalized Income | - | -9.63 | -14.81 | 0.73 | -13.44 |
| Diluted NI Availto Com Stockholders | - | 90.43 | -14.81 | 1.96 | 11.98 |
| Basic Average Shares | - | 8.23 | 8 | 8.06 | 8.04 |
| Diluted Average Shares | - | 8.23 | 8 | 8.19 | 8.15 |
| Reconciled Depreciation | - | 3.59 | 4.26 | 5.56 | 6.97 |
| Reconciled Cost Of Revenue | - | 31.79 | 19.05 | 43.01 | 37.07 |
| Total Unusual Items | - | 4.09 | 0 | 1.56 | 32.18 |
| Total Unusual Items Excluding Goodwill | - | 4.09 | 0 | 1.56 | 32.18 |
| Minority Interests | - | 0.68 | 1.69 | 3.86 | 9.18 |
| Net Income Discontinuous Operations | -6.21 | 96.82 | 0 | - | - |
| Earnings From Equity Interest Net Of Tax | -0.03 | -0.01 | 0.06 | 0 | - |
| Special Income Charges | - | 4.09 | 0 | 1.56 | 32.18 |
| Other Special Charges | -1.53 | - | - | 0.07 | 0.55 |
| Impairment Of Capital Assets | 1.82 | 0.72 | 0 | - | - |
| General And Administrative Expense | - | 17.57 | 15.17 | 14.95 | 14.79 |
| Other Gand A | - | 17.57 | 15.17 | 14.95 | 14.79 |
| Gain On Sale Of Ppe | - | 4.81 | 0 | 1.63 | 32.73 |
| Rent Expense Supplemental | - | 4.44 | 5.18 | 7.47 | 8.98 |
| Earnings From Equity Interest | -0.03 | - | - | - | - |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Stratus Properties Inc.this co. | STRS | $213M | 17.75↑ premium | 1.04 | 5.9% | 17.95 |
| TPG Mortgage Investment Trust, Inc. | MITT | $245M | 5.03 | 0.72 | 14.3% | - |
| Chicago Atlantic Real Estate Finance, Inc. | REFI | $240M | 6.65 | 0.78 | 11.7% | - |
| American Realty Investors, Inc. | ARL | $233M | 14.81 | 0.38 | 2.6% | 10.64 |
| 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 |
| NLOP | NLOP | $177M | -1.22 | 0.60 | -49.4% | -0.85 |
| Peer Median | - | 5.84 | 0.74 | 3.6% | 8.90 | |