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.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $53.5M | $53.5M | $79.7M | $208.1M | $195.0M | $164.9M | $147.6M |
| Gross profit | — | — | — | — | — | — | — | — |
| Net income | — | $15.3M | -$1.9M | -$47.5M | -$97.5M | -$57.3M | -$103.0M | -$139.3M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed Item 1.01
- Regulation FD disclosure Item 7.01
- Material agreement terminated Item 1.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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