Star Holdings STHO

Real estate SIC 6519 - Lessors of Real Property, NEC NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate › Lessors of Other Real Estate Property derived Nasdaq

Star Holdings was formed to succeed to the legacy non-ground lease real estate assets of iStar Inc. ("iStar"). On March 31, 2023, iStar completed its transition to a ground lease focused business through the merger of iStar and Safehold Inc., a ground lease company previously founded by iStar (the "Merger"). iStar continued as the surviving corporation in the Merger and changed its name to "Safehold Inc." ("Safe").

Immediately prior to the closing of the Merger, iStar completed a series of reorganization and separation transactions (collectively, the "Spin-Off") in accordance with the terms of a Separation and Distribution Agreement (the "Separation and Distribution Agreement"), dated as of March 31, 2023, by and between iStar and us. To effectuate the Spin-Off: (i) iStar contributed its remaining legacy non-ground lease assets, 13,522,651 shares of common stock of Safehold Inc. previously owned by iStar (the "Safe Shares") and certain other assets to us; and (ii) iStar distributed 100% of our common shares of beneficial interest to holders of common stock of iStar by way of a pro rata distribution of 0.153 common shares of the Company for each outstanding share of iStar common stock held on the record date of the distribution.

Last close 7.51 2026-10-23
Market cap $90.7M 2026-06-30 share count
52-week range 7.01 - 9.94

Valuation FY2025 figures against the last close

P/S0.8x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-4.90

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Revenue $110.1M$113.3M$123.1M$124.1M$272.2M—
SG&A $14.6M$21.1M$36.2M$10.9M$46.3M—
Total operating expenses $116.0M$138.8M$176.7M$231.2M$314.4M—
Pre-tax income -$70.7M-$88.4M-$196.3M-$36.3M$85.2M—
Income tax $27.0K$2.0K——$22.5M—
Net income -$64.2M-$86.8M-$196.4M-$36.3M$62.7M—
EPS, basic -4.90-6.51-14.74-2.734.71—
EPS, diluted -4.90-6.51-14.74-2.734.71—
Shares, diluted (wtd. avg.) 13.1M13.3M13.3M13.3M13.3M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Cash and equivalents $50.1M$35.0M$50.7M$7.5M$17.1M$11.9M
Other intangibles $102.0K$127.0K$180.0K$319.0K——
Total assets $570.2M$608.7M$669.2M$1.01B——
Long-term debt $268.7M$217.3M$192.9M———
Total liabilities $304.3M$263.7M$235.4M$33.1M——
Retained earnings -$347.4M-$283.2M-$196.4M———
Total equity $251.8M$324.3M$433.8M$972.3M$1.22B$1.80B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Operating cash flow -$11.7M-$31.3M-$18.7M-$27.4M$8.5M—
Depreciation and amortisation $5.2M$4.3M$4.6M$4.9M$6.5M—
Stock-based compensation ——$1.8M-$11.8M$23.4M—
Investing cash flow -$1.5M$306.0K$186.0M$236.1M$673.1M—
Financing cash flow $34.8M$15.8M-$114.1M-$218.3M-$676.4M—
Buybacks $8.0M—————

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 0001953366-26-000003.

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, FY2021: 272.2M Net income, FY2021: 62.7M Revenue, FY2022: 124.1M Net income, FY2022: -36.3M Revenue, FY2023: 123.1M Net income, FY2023: -196.4M Revenue, FY2024: 113.3M Net income, FY2024: -86.8M Revenue, FY2025: 110.1M Net income, FY2025: -64.2M FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $272.2M $124.1M $123.1M $113.3M $110.1M
Gross profit — — — — — —
Net income — $62.7M -$36.3M -$196.4M -$86.8M -$64.2M

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
  • 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
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
  • 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
  • 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
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote Item 5.07

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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