NASDAQ : OPI
Office Properties Income Trust — Financial statements
Real Estate · REIT - Office · United States
Last price 13.59 USD (Nov 2, 2026, 9:30 AM EST) · Market cap 298.35M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 440.14M | 442.56M | 501.98M | 533.55M | 554.27M | 576.48M |
| Total Revenue | 440.14M | 442.56M | 501.98M | 533.55M | 554.27M | 576.48M |
| Property Expenses | 77.77M | 75.89M | 89.84M | 89.61M | 84.85M | 97.22M |
| Selling, General & Administrative | 19.33M | 19.43M | 21.13M | 22.73M | 25.13M | 26.86M |
| Depreciation & Amortization | 194.00M | 174.96M | 194.74M | 209.25M | 222.56M | 241.49M |
| Other Operating Expenses | 119.62M | 121.46M | 107.40M | 109.88M | 110.37M | 105.83M |
| Total Operating Expenses | 410.72M | 391.73M | 413.10M | 431.48M | 442.91M | 471.40M |
| Operating Income | 29.43M | 50.82M | 88.88M | 102.08M | 111.36M | 105.08M |
| Interest Expense | -188.66M | -203.45M | -163.75M | -110.65M | -103.48M | -112.39M |
| Interest & Investment Income | 2.94M | 3.15M | 3.67M | 1.04M | 217.00K | 7.00K |
| Income (Loss) on Equity Investments | 559.00K | -405.00K | -758.00K | -22.21M | -3.51M | -2.50M |
| Other Non-Operating Income | 1.49M | |||||
| EBT Excluding Unusual Items | -154.24M | -149.89M | -71.96M | -29.75M | 4.59M | -9.79M |
| Merger & Restructuring Charges | 4.82M | -1.14M | -31.82M | -292.00K | ||
| Gain (Loss) on Sale of Assets | 5.49M | 916.00K | -7.41M | 3.78M | 11.00M | 78.35M |
| Asset Writedown | 378.00K | -2.05M | -181.58M | -11.30M | -21.82M | -62.42M |
| Other Unusual Items | -884.46M | -78.78M | 126.19M | 682.00K | -14.07M | |
| Pretax Income | -1.07B | -272.26M | -135.90M | -69.08M | -5.84M | -7.93M |
| Income Tax Expense | -16.00K | 116.00K | 203.00K | 351.00K | 270.00K | 251.00K |
| Earnings From Continuing Operations | -1.07B | -272.37M | -136.11M | -69.43M | -6.11M | -8.18M |
| Net Income | -1.07B | -272.37M | -136.11M | -69.43M | -6.11M | -8.18M |
| Preferred Dividends & Other Adjustments | 12.00K | 12.00K | 14.00K | 305.00K | 427.00K | |
| Net Income to Common | -1.07B | -272.39M | -136.12M | -69.74M | -6.54M | -8.18M |
| Basic Shares Outstanding | 71.57M | 71.92M | 51.81M | 48.39M | 48.28M | 48.20M |
| Diluted Shares Outstanding | 71.57M | 71.92M | 51.81M | 48.39M | 48.28M | 48.20M |
| EPS (Basic) | -14.96 | -3.79 | -2.63 | -1.44 | -0.14 | -0.17 |
| EPS (Diluted) | -14.96 | -3.79 | -2.63 | -1.44 | -0.14 | -0.17 |
| Dividend Per Share | 0.01 | 0.04 | 0.76 | 2.20 | 2.20 | |
| Operating Margin | 6.69% | 11.48% | 17.71% | 19.13% | 20.09% | 18.23% |
| Profit Margin | -243.21% | -61.55% | -27.12% | -13.07% | -1.18% | -1.42% |
| EBITDA | 209.86M | 213.83M | 272.22M | 302.34M | 328.03M | 342.18M |
| EBITDA Margin | 47.68% | 48.32% | 54.23% | 56.67% | 59.18% | 59.36% |
| D&A For Ebitda | 180.44M | 163.01M | 183.35M | 200.26M | 216.67M | 237.09M |
| EBIT | 29.43M | 50.82M | 88.88M | 102.08M | 111.36M | 105.08M |
| EBIT Margin | 6.69% | 11.48% | 17.71% | 19.13% | 20.09% | 18.23% |
| Funds From Operations (FFO) | -879.94M | -93.69M | 250.11M | 169.92M | 230.33M | 220.81M |
| Adjusted Funds From Operations (AFFO) | -93.69M | 250.11M | 169.92M | 230.33M | 220.81M | |
| FFO Payout Ratio | 0.81% | 37.19% | 46.29% | 48.17% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 1.11B | 2.95B | 3.04B | 3.42B | 3.37B | 3.42B |
| Cash & Equivalents | 50.75M | 29.49M | 261.32M | 12.31M | 12.25M | 83.03M |
| Accounts Receivable | 17.15M | 164.11M | 155.67M | 133.26M | 105.64M | 112.89M |
| Other Receivables | 407.00K | 231.00K | ||||
| Restricted Cash | 54.04M | 51.17M | 13.85M | 14.40M | 1.49M | |
| Other Current Assets | 294.96M | 32.20M | 37.31M | 2.52M | 26.60M | |
| Deferred Long-Term Charges | 2.69M | 95.42M | 103.08M | 87.06M | 73.62M | 54.93M |
| Other Long-Term Assets | 848.07M | 201.01M | 217.26M | 289.82M | 411.34M | 547.58M |
| Total Assets | 2.37B | 3.49B | 3.82B | 3.99B | 3.98B | 4.24B |
| Long-Term Debt | 1.68B | 889.56M | 2.53B | 2.57B | 2.43B | 2.58B |
| Accounts Payable | 132.10M | 126.86M | 118.69M | 140.17M | 140.15M | 142.61M |
| Other Current Liabilities | 10.26M | 765.00K | 2.52M | 73.00K | 594.00K | |
| Other Long-Term Liabilities | 37.16M | 1.59B | 15.39M | 18.69M | 20.63M | 23.82M |
| Total Liabilities | 1.86B | 2.61B | 2.67B | 2.73B | 2.59B | 2.74B |
| Common Stock | 220.00K | 739.00K | 698.00K | 488.00K | 486.00K | 484.00K |
| Additional Paid-In Capital | 514.32M | 2.66B | 2.66B | 2.62B | 2.62B | 2.62B |
| Distributions in Excess of Earnings | -3.09M | -1.78B | -1.50B | -1.37B | -1.23B | -1.12B |
| Total Common Equity | 511.45M | 880.99M | 1.15B | 1.26B | 1.39B | 1.50B |
| Shareholders' Equity | 511.45M | 880.99M | 1.15B | 1.26B | 1.39B | 1.50B |
| Total Liabilities & Equity | 2.37B | 3.49B | 3.82B | 3.99B | 3.98B | 4.24B |
| Total Debt | 1.68B | 889.56M | 2.53B | 2.57B | 2.43B | 2.58B |
| Net Cash (Debt) | -1.63B | -860.07M | -2.27B | -2.56B | -2.42B | -2.49B |
| Net Cash Per Share | -22.81 | -11.96 | -43.88 | -52.91 | -50.14 | -51.77 |
| Filing Date Shares Outstanding | 21.95M | 73.94M | 69.82M | 48.75M | 48.56M | 48.43M |
| Total Common Shares Outstanding | 21.95M | 73.94M | 69.82M | 48.76M | 48.57M | 48.43M |
| Book Value Per Share | 23.30 | 11.91 | 16.51 | 25.75 | 28.55 | 30.91 |
| Tangible Book Value | 511.45M | 880.99M | 1.15B | 1.26B | 1.39B | 1.50B |
| Tangible Book Value Per Share | 23.30 | 11.91 | 16.51 | 25.75 | 28.55 | 30.91 |
| Land | 607.03M | 706.62M | 711.04M | 786.31M | 821.24M | 874.11M |
| Buildings | 500.18M | 2.97B | 2.95B | 3.28B | 3.11B | 3.04B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -1.07B | -272.37M | -136.11M | -69.43M | -6.11M | -8.18M |
| Depreciation & Amortization | 180.44M | 163.01M | 183.35M | 200.26M | 216.67M | 237.09M |
| Other Amortization | 16.44M | 14.40M | 12.99M | 10.06M | 7.99M | 7.88M |
| Gain (Loss) on Sale of Assets | -5.49M | -916.00K | 7.41M | -3.78M | -11.00M | -78.35M |
| Gain (Loss) on Sale of Investments | 19.18M | |||||
| Asset Writedown | -378.00K | 2.05M | 181.58M | 11.30M | 21.82M | 62.42M |
| Income (Loss) on Equity Investments | -559.00K | 405.00K | 758.00K | 3.03M | 3.51M | 2.50M |
| Change in Accounts Receivable | -1.13M | 2.41M | 6.00M | -2.38M | 10.96M | 2.66M |
| Change in Accounts Payable | 89.17M | 71.08M | -10.39M | 13.74M | -19.21M | 7.15M |
| Change in Other Net Operating Assets | -10.27M | -29.13M | -22.75M | -24.45M | -31.45M | -17.56M |
| Other Operating Activities | 689.73M | 42.50M | -155.67M | -15.82M | -560.00K | 5.88M |
| Operating Cash Flow | -112.50M | -6.57M | 67.17M | 141.73M | 192.61M | 221.49M |
| Acquisition of Real Estate Assets | -38.23M | -37.63M | -123.38M | -231.79M | -204.10M | -663.59M |
| Sale of Real Estate Assets | 13.58M | 39.83M | 189.99M | 42.18M | 203.28M | 219.98M |
| Net Sale / Acq. of Real Estate Assets | -24.65M | 2.19M | 66.61M | -189.61M | -824.00K | -443.61M |
| Investment in Marketable & Equity Securities | -5.21M | -3.80M | 623.00K | |||
| Investing Cash Flow | -24.65M | 2.19M | 66.61M | -194.82M | -4.62M | -442.99M |
| Long-Term Debt Issued | 10.00M | 890.99M | 417.32M | 385.00M | 1.80B | |
| Long-Term Debt Repaid | -198.60M | -682.24M | -280.00M | -537.62M | -1.44B | |
| Net Debt Issued (Repaid) | 116.47M | -188.60M | 208.74M | 137.32M | -152.62M | 359.27M |
| Issuance of Common Stock | 33.58M | 1.11M | ||||
| Repurchase of Common Stock | -27.00K | -32.00K | -192.00K | -294.00K | -540.00K | -1.00M |
| Common Dividends Paid | -1.41M | -2.03M | -63.19M | -106.63M | -106.37M | |
| Other Financing Activities | -43.00K | -1.20M | -91.84M | -6.28M | -469.00K | -2.74M |
| Net Cash Flow | 12.84M | -194.50M | 248.45M | 14.46M | -72.27M | 27.66M |
| Levered Free Cash Flow | -56.24M | 76.51M | 111.23M | 132.88M | 262.33M | 320.06M |
| Unlevered Free Cash Flow | 61.68M | 203.66M | 213.57M | 202.03M | 327.01M | 390.30M |
| Cash Interest Paid | 125.42M | 130.55M | 145.33M | 107.64M | 104.17M | 103.20M |
| Cash Income Tax Paid | 332.00K | 192.00K | 361.00K | 478.00K | 352.00K | 299.00K |
| Change in Working Capital | 77.77M | 44.36M | -27.14M | -13.09M | -39.71M | -7.74M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Debt / Equity Ratio | 3.29 | 1.01 | 2.20 | 2.05 | 1.75 | 1.72 |
| Debt / EBITDA Ratio | 8.02 | 4.16 | 9.31 | 8.51 | 7.42 | 7.53 |
| Net Debt / Equity Ratio | 3.19 | 0.98 | 1.97 | 2.04 | 1.75 | 1.67 |
| Net Debt / EBITDA Ratio | 7.78 | 4.02 | 8.35 | 8.47 | 7.38 | 7.29 |
| Asset Turnover | 0.15 | 0.12 | 0.13 | 0.13 | 0.14 | 0.14 |
| Quick Ratio | 0.48 | 1.53 | 3.49 | 1.02 | 0.84 | 1.37 |
| Current Ratio | 2.93 | 1.93 | 3.88 | 1.38 | 0.86 | 1.56 |
| Return on Equity (ROE) | -135.72% | -26.78% | -11.30% | -5.26% | -0.42% | -0.53% |
| Return on Assets (ROA) | 0.62% | 0.87% | 1.42% | 1.60% | 1.69% | 1.60% |
| Return on Invested Capital (ROIC) | 1.49% | 1.86% | 2.37% | 2.67% | 2.82% | 2.67% |
| Buyback Yield / Dilution | -14.21% | -38.82% | -7.06% | -0.23% | -0.17% | -0.15% |