Seritage Growth Properties SRG

Real estate SIC 6500 - Real Estate NAICS Real Estate and Rental and Leasing › Real Estate derived NYSE

Seritage Growth Properties ("Seritage") (NYSE: SRG), was formed as a Maryland real estate investment trust on June 3, 2015, operated as a fully integrated, self-administered and self-managed real estate investment trust ("REIT") as defined under Section 856(c) of the Internal Revenue Code (the "Code") from formation through December 31, 2021. On March 31, 2022, Seritage revoked its REIT election and became a taxable C Corporation effective January 1, 2022. Seritage's assets are held by and its operations are primarily conducted, directly or indirectly, through Seritage Growth Properties, L.P., a Delaware limited partnership (the "Operating Partnership"). Under the partnership agreement of the Operating Partnership, Seritage, as the sole general partner, has exclusive responsibility and discretion in the management and control of the Operating Partnership. Unless otherwise expressly stated or the context otherwise requires, the "Company" and "Seritage" refer to Seritage, the Operating Partnership and its owned and controlled subsidiaries.

Last close 1.62 2026-10-23
Market cap $91.2M estimated share count
52-week range 1.55 - 4.23

Valuation FY2025 figures against the last close

P/S150.3x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-1.30

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $607.0K$567.0K$5.7M$2.4M$1.0M$293.0K$1.6M$1.2M$241.0M$248.7M
SG&A $31.9M$30.0M$46.0M$47.6M$41.9M$28.8M$39.2M$34.8M$27.9M$17.5M
Total operating expenses $54.7M$69.1M$87.9M$190.0M$173.4M$202.8M$224.5M$332.9M$355.6M$279.1M
Operating income ————————-$114.6M-$30.4M
Interest expense $20.3M$25.0M$44.6M$86.7M$108.0M$91.3M$94.5M$90.0M$70.1M$63.6M
Pre-tax income -$68.2M-$152.0M-$154.9M-$119.6M-$38.8M-$152.7M-$90.4M-$114.6M-$120.5M-$90.5M
Income tax $0$1.6M$38.0K$466.0K$196.0K$252.0K$196.0K$321.0K$271.0K$505.0K
Net income -$68.2M-$153.5M-$154.9M-$73.9M-$28.1M-$105.0M-$59.4M-$73.5M-$73.8M-$51.6M
EPS, basic -1.30-2.82-2.85-1.59-0.78-2.87-1.77-2.20-2.19-1.64
EPS, diluted -1.30-2.82-2.85-1.59-0.78-2.87-1.77-2.20-2.19-1.64
Shares, diluted (wtd. avg.) 56.3M56.3M56.2M49.7M42.4M38.3M36.4M35.6M33.8M31.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $48.1M$85.2M$134.0M$133.5M$106.6M$143.7M$139.3M$532.9M$241.6M$52.0M
Other intangibles $171.0K$1.0M$886.0K$1.8M$14.8M$18.6M$68.2M$123.7M$310.1M$464.4M
Total assets $393.8M$677.8M$973.9M$1.84B$2.41B$2.65B$2.75B$2.88B$2.78B$2.71B
Long-term debt ————————$1.20B$1.17B
Total liabilities $61.0M$272.0M$410.7M$1.12B$1.57B$1.77B$1.71B$1.73B$1.45B$1.29B
Retained earnings -$1.03B-$958.8M-$800.3M-$640.5M-$553.8M-$528.6M-$418.7M-$344.1M-$229.8M-$121.3M
Total equity $331.4M$404.5M$563.2M$722.6M$844.8M$882.7M$1.04B$1.15B$1.32B$1.42B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$34.9M-$53.5M-$53.1M-$117.9M-$136.0M-$47.3M-$57.7M$54.9M$59.6M$97.2M
Stock-based compensation $201.0K$1.5M$2.7M$2.8M$1.9M-$3.0M$6.8M$7.5M$7.0M$1.1M
Investing cash flow $198.5M$126.9M$732.9M$586.1M$260.7M$42.9M-$299.5M-$119.5M$37.2M-$62.4M
Financing cash flow -$199.0M-$125.3M-$675.1M-$437.0M-$161.2M$15.4M-$36.4M$180.2M$180.8M-$50.5M
Dividends paid ——————$18.0M$35.7M$34.2M$39.4M

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 0001174947-26-000519.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -200M 0 200M 400M Revenue, FY2016: 248.7M Net income, FY2016: -51.6M Revenue, FY2017: 241M Net income, FY2017: -73.8M Revenue, FY2018: 1.2M Net income, FY2018: -73.5M Revenue, FY2019: 1.6M Net income, FY2019: -59.4M Revenue, FY2020: 293K Net income, FY2020: -105M Revenue, FY2021: 1M Net income, FY2021: -28.1M Revenue, FY2022: 2.4M Net income, FY2022: -73.9M Revenue, FY2023: 5.7M Net income, FY2023: -154.9M Revenue, FY2024: 567K Net income, FY2024: -153.5M Revenue, FY2025: 607K Net income, FY2025: -68.2M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $248.7M $241.0M $1.2M $1.6M $293.0K $1.0M $2.4M $5.7M $567.0K $607.0K
Gross profit — — — — — — — — — —
Net income -$51.6M -$73.8M -$73.5M -$59.4M -$105.0M -$28.1M -$73.9M -$154.9M -$153.5M -$68.2M

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
  • 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
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Material agreement signed Item 1.01
  • Results announced Item 2.02
  • Other event Item 8.01
  • 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

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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