Orion Properties Inc. ONL
Orion Properties Inc. is an internally managed real estate investment trust ("REIT") engaged in the ownership, acquisition, and management of a diversified portfolio of office properties located in high-quality suburban markets across the United States and leased primarily on a single-tenant net lease basis to creditworthy tenants. Our portfolio is comprised of traditional office properties, as well as governmental, medical office, flex/laboratory and R&D and flex/industrial properties. As part of our investment strategy, we intend to shift our portfolio concentration over time away from traditional office properties, towards more dedicated use assets with specialized uses that include an office component.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $147.6M | $164.9M | $195.0M | $208.1M | $79.7M | $53.5M | $53.5M | — |
| SG&A | $20.3M | $20.1M | $18.7M | $15.9M | $3.8M | $2.1M | $2.0M | — |
| Total operating expenses | $244.2M | $234.2M | $222.2M | $276.8M | $118.9M | $52.4M | $34.9M | — |
| Interest expense | — | — | $29.7M | $30.2M | $4.3M | $2.9M | $3.3M | — |
| Pre-tax income | -$139.0M | -$102.8M | -$56.9M | -$97.3M | -$47.3M | -$1.9M | $15.3M | — |
| Income tax | $259.0K | $214.0K | $456.0K | $212.0K | $157.0K | $0 | $0 | — |
| Net income | -$139.3M | -$103.0M | -$57.3M | -$97.5M | -$47.5M | -$1.9M | $15.3M | — |
| EPS, basic | -2.48 | -1.84 | -1.02 | -1.72 | -0.84 | -0.03 | 0.27 | — |
| EPS, diluted | -2.48 | -1.84 | -1.02 | -1.72 | -0.84 | -0.03 | 0.27 | — |
| Shares, diluted (wtd. avg.) | $56.2M | $55.9M | $56.4M | $56.6M | $56.6M | $56.6M | $56.6M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $22.4M | $15.6M | $22.5M | $20.6M | $29.3M | $0 | $0 | $0 |
| Other intangibles | $75.9M | $95.9M | $126.4M | $202.8M | $298.1M | $28.7M | — | — |
| Total assets | $1.17B | $1.34B | $1.42B | $1.57B | $1.76B | $546.4M | — | — |
| Short-term debt | — | — | — | $0 | $354.4M | — | — | — |
| Long-term debt | $465.0M | $492.0M | $471.0M | $530.0M | $616.8M | $37.1M | — | — |
| Total liabilities | $546.0M | $571.2M | $536.9M | $595.2M | $671.2M | $49.3M | — | — |
| Retained earnings | -$528.5M | -$384.3M | -$258.8M | -$178.9M | -$58.7M | $0 | — | — |
| Total equity | $623.2M | $763.9M | $887.0M | $975.9M | $1.09B | $497.1M | $508.0M | $530.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $23.6M | $54.3M | $89.1M | $114.2M | $56.1M | $42.3M | $40.0M | — |
| Depreciation and amortisation | $58.7M | $100.8M | $109.1M | $131.4M | $43.9M | $25.9M | $26.9M | — |
| Stock-based compensation | $3.9M | $3.8M | $2.7M | $1.8M | $65.0K | $0 | $0 | — |
| Investing cash flow | $16.8M | -$51.3M | $5.3M | $22.5M | -$12.3M | -$464.0K | -$536.0K | — |
| Financing cash flow | -$36.9M | -$3.0M | -$92.5M | -$110.7M | -$18.4M | -$41.7M | -$38.6M | — |
| Dividends paid | $9.0M | $22.4M | $22.6M | — | — | — | — | — |
| Buybacks | $0 | $0 | $5.0M | $0 | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001873923-26-000038.
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