NYSE : CLPR
Clipper Realty Inc. — Financial statements
Real Estate · REIT - Residential · United States
Last price 3.23 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 137.19M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 151.46M | 153.20M | 148.78M | 138.21M | 129.75M | 122.73M |
| Total Revenue | 151.46M | 153.20M | 148.78M | 138.21M | 129.75M | 122.73M |
| Property Expenses | 68.29M | 68.38M | 63.93M | 62.57M | 61.87M | 59.45M |
| Selling, General & Administrative | 16.24M | 15.52M | 14.15M | 13.17M | 12.75M | 10.57M |
| Depreciation & Amortization | 32.38M | 31.33M | 29.89M | 28.94M | 26.98M | 25.76M |
| Total Operating Expenses | 116.91M | 115.23M | 107.98M | 104.68M | 101.60M | 95.78M |
| Operating Income | 34.55M | 37.97M | 40.80M | 33.53M | 28.14M | 26.95M |
| Interest Expense | -61.23M | -53.03M | -47.11M | -44.87M | -40.21M | -41.28M |
| EBT Excluding Unusual Items | -26.68M | -15.05M | -6.31M | -11.34M | -12.06M | -14.33M |
| Gain (Loss) on Sale of Assets | -172.00K | -857.00K | ||||
| Total Insurance Settlements | 139.00K | |||||
| Asset Writedown | -33.78M | |||||
| Total Legal Settlements | -3.81M | -26.00K | -269.00K | -2.73M | ||
| Other Unusual Items | -2.63M | -2.62M | -4.22M | -506.00K | -3.09M | |
| Pretax Income | -33.28M | -52.34M | -6.58M | -15.56M | -12.57M | -20.02M |
| Earnings From Continuing Operations | -33.28M | -52.34M | -6.58M | -15.56M | -12.57M | -20.02M |
| Minority Interest in Earnings | 20.63M | 32.44M | 4.08M | 9.66M | 7.81M | 12.43M |
| Net Income | -12.66M | -19.90M | -2.50M | -5.90M | -4.76M | -7.59M |
| Preferred Dividends & Other Adjustments | 2.49M | 2.32M | 1.48M | 1.29M | 968.00K | 653.00K |
| Net Income to Common | -15.15M | -22.22M | -3.98M | -7.19M | -5.73M | -8.24M |
| Basic Shares Outstanding | 16.15M | 16.15M | 16.12M | 16.06M | 16.06M | 16.06M |
| Diluted Shares Outstanding | 16.15M | 16.15M | 16.12M | 16.06M | 16.06M | 16.06M |
| EPS (Basic) | -0.94 | -1.38 | -0.25 | -0.45 | -0.36 | -0.51 |
| EPS (Diluted) | -0.94 | -1.38 | -0.25 | -0.45 | -0.36 | -0.51 |
| Dividend Per Share | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 | 0.38 |
| Operating Margin | 22.81% | 24.79% | 27.42% | 24.26% | 21.69% | 21.96% |
| Profit Margin | -10.00% | -14.50% | -2.67% | -5.20% | -4.42% | -6.71% |
| EBITDA | 67.29M | 69.68M | 71.06M | 62.81M | 55.37M | 52.86M |
| EBITDA Margin | 44.43% | 45.48% | 47.77% | 45.45% | 42.67% | 43.07% |
| D&A For Ebitda | 32.74M | 31.71M | 30.27M | 29.29M | 27.23M | 25.91M |
| EBIT | 34.55M | 37.97M | 40.80M | 33.53M | 28.14M | 26.95M |
| EBIT Margin | 22.81% | 24.79% | 27.42% | 24.26% | 21.69% | 21.96% |
| Funds From Operations (FFO) | -906.00K | -21.01M | 23.31M | 13.37M | 14.41M | 5.74M |
| Adjusted Funds From Operations (AFFO) | 13.31M | 23.64M | 28.81M | 22.55M | 19.24M | 15.56M |
| FFO Payout Ratio | 26.20% | 45.64% | 42.35% | 106.27% | ||
| Revenue as Reported | 151.46M | 153.20M | 148.78M | 138.21M | 129.75M | 122.73M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 1.14B | 1.15B | 1.23B | 1.19B | 1.17B | 1.15B |
| Cash & Equivalents | 37.70M | 30.82M | 19.90M | 22.16M | 18.15M | 34.52M |
| Accounts Receivable | 8.18M | 10.74M | 8.47M | 7.54M | 7.58M | 12.92M |
| Other Intangible Assets | 5.15M | 5.33M | 5.68M | 6.13M | 6.62M | 7.13M |
| Restricted Cash | 24.87M | 27.34M | 18.16M | 14.06M | 12.51M | 17.70M |
| Other Current Assets | 6.60M | 11.15M | 6.24M | 10.85M | 13.65M | 15.64M |
| Total Assets | 1.22B | 1.23B | 1.29B | 1.25B | 1.23B | 1.23B |
| Current Portion of Long-Term Debt | 724.00K | 1.73M | 80.00M | |||
| Long-Term Debt | 1.28B | 1.28B | 1.19B | 1.21B | 1.16B | 1.13B |
| Accounts Payable | 25.25M | 18.09M | 18.73M | 20.99M | 17.09M | 19.56M |
| Other Current Liabilities | 18.00K | |||||
| Other Long-Term Liabilities | 20.83M | 19.46M | 16.12M | 15.48M | 13.75M | 13.00M |
| Total Liabilities | 1.33B | 1.32B | 1.30B | 1.24B | 1.19B | 1.16B |
| Common Stock | 160.00K | 160.00K | 160.00K | 160.00K | 160.00K | 160.00K |
| Additional Paid-In Capital | 90.98M | 90.68M | 89.94M | 89.48M | 88.83M | 88.09M |
| Retained Earnings | -131.23M | -121.54M | -95.51M | -86.90M | -74.89M | -61.74M |
| Total Common Equity | -40.09M | -30.71M | -5.41M | 2.74M | 14.09M | 26.51M |
| Minority Interest | -65.30M | -50.05M | -8.82M | 4.49M | 23.09M | 43.44M |
| Shareholders' Equity | -105.39M | -80.75M | -14.23M | 7.24M | 37.18M | 69.95M |
| Total Liabilities & Equity | 1.22B | 1.23B | 1.29B | 1.25B | 1.23B | 1.23B |
| Total Debt | 1.28B | 1.28B | 1.27B | 1.21B | 1.16B | 1.13B |
| Net Cash (Debt) | -1.24B | -1.25B | -1.25B | -1.18B | -1.14B | -1.10B |
| Net Cash Per Share | -76.92 | -77.21 | -77.32 | -73.68 | -71.18 | -68.27 |
| Filing Date Shares Outstanding | 16.16M | 16.15M | 16.15M | 16.06M | 16.06M | 16.06M |
| Total Common Shares Outstanding | 16.16M | 16.15M | 16.15M | 16.06M | 16.06M | 16.06M |
| Book Value Per Share | -2.48 | -1.90 | -0.33 | 0.17 | 0.88 | 1.65 |
| Tangible Book Value | -45.24M | -36.03M | -11.09M | -3.38M | 7.47M | 19.39M |
| Tangible Book Value Per Share | -2.80 | -2.23 | -0.69 | -0.21 | 0.47 | 1.21 |
| Land | 559.42M | 559.42M | 571.99M | 571.99M | 540.86M | 540.86M |
| Buildings | 841.33M | 836.44M | 736.42M | 726.27M | 656.46M | 649.69M |
| Construction In Progress | 146.25M | 87.28M | 142.29M | 97.30M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -12.66M | -19.90M | -2.50M | -5.90M | -4.76M | -7.59M |
| Depreciation & Amortization | 32.74M | 31.71M | 30.27M | 29.29M | 27.23M | 25.91M |
| Other Amortization | 3.69M | 2.85M | 2.23M | 1.82M | 1.46M | 1.47M |
| Gain (Loss) on Sale of Assets | 172.00K | 857.00K | ||||
| Asset Writedown | 33.78M | |||||
| Stock-Based Compensation | 4.22M | 4.27M | 2.70M | 3.02M | 2.92M | 2.61M |
| Change in Accounts Receivable | 2.04M | -2.44M | -1.22M | -86.00K | -310.00K | -5.11M |
| Change in Accounts Payable | 8.76M | 4.10M | -948.00K | -707.00K | 1.22M | 3.46M |
| Change in Other Net Operating Assets | 5.06M | -2.93M | 5.13M | 4.43M | 594.00K | -2.11M |
| Other Operating Activities | -18.49M | -29.77M | -3.83M | -5.58M | -7.97M | -9.68M |
| Operating Cash Flow | 25.53M | 22.57M | 31.86M | 26.18M | 20.14M | 10.82M |
| Acquisition of Real Estate Assets | -10.84M | -31.30M | -68.78M | -41.36M | -53.49M | -76.08M |
| Sale of Real Estate Assets | 43.49M | |||||
| Net Sale / Acq. of Real Estate Assets | -10.84M | 12.19M | -68.78M | -41.36M | -53.49M | -76.08M |
| Cash Acquisition | 2.02M | -2.02M | ||||
| Other Investing Activities | -97.00K | 150.00K | ||||
| Investing Cash Flow | -10.84M | 12.09M | -68.78M | -41.36M | -51.48M | -77.94M |
| Long-Term Debt Issued | 254.94M | 58.33M | 132.52M | 29.38M | 151.76M | |
| Long-Term Debt Repaid | -244.06M | -2.00M | -84.73M | -2.19M | -97.43M | |
| Net Debt Issued (Repaid) | 9.90M | 10.88M | 56.33M | 47.79M | 27.19M | 54.33M |
| Common Dividends Paid | -6.14M | -6.14M | -6.11M | -6.10M | -6.10M | -6.10M |
| Total Dividends Paid | -6.14M | -6.14M | -6.11M | -6.10M | -6.10M | -6.10M |
| Other Financing Activities | -16.71M | -19.30M | -11.48M | -20.96M | -11.30M | -17.91M |
| Net Cash Flow | 1.74M | 20.10M | 1.83M | 5.56M | -21.56M | -36.81M |
| Levered Free Cash Flow | 40.50M | 12.41M | 28.58M | 32.21M | 34.13M | 20.20M |
| Unlevered Free Cash Flow | 75.20M | 42.81M | 55.90M | 58.54M | 58.00M | 44.76M |
| Cash Interest Paid | 48.25M | 48.97M | 43.99M | 45.32M | 38.99M | 40.23M |
| Change in Working Capital | 15.87M | -1.27M | 2.97M | 3.63M | 1.51M | -3.76M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 137.19M | 61.68M | 73.63M | 86.74M | 102.80M | 159.67M |
| Enterprise Value | 1.38B | 1.27B | 1.31B | 1.27B | 1.27B | 1.25B |
| Last Close Price | 3.23 | 3.48 | 3.79 | 4.11 | 4.55 | 6.75 |
| PS Ratio | 0.91 | 0.40 | 0.49 | 0.63 | 0.79 | 1.30 |
| PB Ratio | -0.76 | -5.17 | 11.99 | 2.77 | 2.28 | |
| P/OCF Ratio | 5.37 | 2.73 | 2.31 | 3.31 | 5.11 | 14.75 |
| EV/Sales Ratio | 9.11 | 8.28 | 8.78 | 9.19 | 9.76 | 10.21 |
| EV/EBITDA Ratio | 20.50 | 18.20 | 18.39 | 20.22 | 22.88 | 23.69 |
| EV/EBIT Ratio | 39.93 | 33.39 | 32.03 | 37.88 | 45.02 | 46.47 |
| Debt / Equity Ratio | -12.14 | -15.82 | -88.99 | 166.64 | 31.24 | 16.17 |
| Debt / EBITDA Ratio | 19.02 | 18.33 | 17.82 | 19.19 | 20.98 | 21.40 |
| Net Debt / Equity Ratio | -11.79 | -15.44 | -87.59 | 163.57 | 30.75 | 15.68 |
| Net Debt / EBITDA Ratio | 18.46 | 17.89 | 17.54 | 18.84 | 20.65 | 20.74 |
| Asset Turnover | 0.12 | 0.12 | 0.12 | 0.11 | 0.10 | 0.10 |
| Quick Ratio | 1.77 | 2.10 | 0.29 | 1.42 | 1.50 | 2.43 |
| Current Ratio | 2.98 | 4.04 | 0.53 | 2.60 | 3.03 | 4.13 |
| Return on Equity (ROE) | -70.09% | -23.47% | -23.00% | |||
| Return on Assets (ROA) | 1.75% | 1.88% | 2.01% | 1.69% | 1.43% | 1.38% |
| Earnings Yield | -29.04% | -32.26% | -3.40% | -6.80% | -4.63% | -4.75% |
| Dividend Yield | 11.77% | 9.95% | 8.33% | 7.04% | 5.94% | 3.82% |
| Buyback Yield / Dilution | 0.03% | -0.17% | -0.36% | 8.88% | ||
| Total Shareholder Return | 11.79% | 9.78% | 7.98% | 7.04% | 5.94% | 12.71% |