NYSE : CURB
Curbline Properties Corp. — Financial statements
Real Estate · REIT - Retail · United States
Last price 28.73 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 3.49B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 245.59M | 181.98M | 120.03M | 93.00M | 72.86M | 52.19M |
| Other Revenue | 940.00K | 910.00K | 853.00K | 656.00K | 281.00K | 123.00K |
| Total Revenue | 246.53M | 182.89M | 120.88M | 93.66M | 73.14M | 52.32M |
| Property Expenses | 60.81M | 45.95M | 27.60M | 21.91M | 15.38M | 10.78M |
| Selling, General & Administrative | 38.23M | 33.92M | 17.44M | 5.21M | 3.77M | 3.30M |
| Depreciation & Amortization | 103.99M | 72.41M | 41.91M | 31.99M | 26.63M | 15.00M |
| Total Operating Expenses | 203.03M | 152.28M | 86.95M | 59.12M | 45.78M | 29.08M |
| Operating Income | 43.50M | 30.62M | 33.93M | 34.54M | 27.36M | 23.24M |
| Interest Expense | -30.62M | -12.14M | -901.00K | -1.52M | -1.62M | -2.15M |
| Interest & Investment Income | 8.35M | 18.56M | 7.81M | |||
| Other Non-Operating Income | 5.14M | 1.78M | 240.00K | -2.38M | -10.00K | -7.00K |
| EBT Excluding Unusual Items | 26.37M | 38.81M | 41.08M | 30.64M | 25.73M | 21.09M |
| Gain (Loss) on Sale of Assets | 1.34M | 1.38M | 371.00K | |||
| Other Unusual Items | -30.80M | |||||
| Pretax Income | 27.71M | 40.19M | 10.28M | 31.01M | 25.73M | 21.09M |
| Income Tax Expense | 217.00K | 307.00K | 4.00K | |||
| Earnings From Continuing Operations | 27.49M | 39.88M | 10.27M | 31.01M | 25.73M | 21.09M |
| Minority Interest in Earnings | -51.00K | -52.00K | -11.00K | -427.00K | ||
| Net Income | 27.44M | 39.83M | 10.26M | 31.01M | 25.73M | 20.66M |
| Preferred Dividends & Other Adjustments | 455.00K | 550.00K | 267.00K | |||
| Net Income to Common | 26.98M | 39.28M | 9.99M | 31.01M | 25.73M | 20.66M |
| Basic Shares Outstanding | 107.94M | 104.99M | 104.86M | 104.86M | 104.86M | |
| Diluted Shares Outstanding | 109.50M | 105.30M | 105.22M | 104.86M | 104.86M | |
| EPS (Basic) | 0.25 | 0.37 | 0.10 | 0.30 | 0.25 | |
| EPS (Diluted) | 0.25 | 0.37 | 0.09 | 0.30 | 0.25 | |
| Dividend Per Share | 0.67 | 0.64 | ||||
| Operating Margin | 17.64% | 16.74% | 28.07% | 36.88% | 37.41% | 44.42% |
| Profit Margin | 10.95% | 21.48% | 8.27% | 33.11% | 35.18% | 39.49% |
| EBITDA | 147.49M | 103.03M | 75.84M | 66.53M | 53.99M | 38.24M |
| EBITDA Margin | 59.83% | 56.33% | 62.74% | 71.03% | 73.82% | 73.10% |
| D&A For Ebitda | 103.99M | 72.41M | 41.91M | 31.99M | 26.63M | 15.00M |
| EBIT | 43.50M | 30.62M | 33.93M | 34.54M | 27.36M | 23.24M |
| EBIT Margin | 17.64% | 16.74% | 28.07% | 36.88% | 37.41% | 44.42% |
| Funds From Operations (FFO) | 129.90M | 110.77M | 52.16M | 62.63M | 52.36M | 35.66M |
| FFO Per Share | 1.05 | 0.50 | ||||
| Adjusted Funds From Operations (AFFO) | 110.77M | 52.16M | 62.63M | 52.36M | 35.66M | |
| AFFO Per Share | 1.05 | 0.50 | ||||
| FFO Payout Ratio | 56.73% | 69.86% | ||||
| Effective Tax Rate | 0.78% | 0.76% | 0.04% | |||
| Revenue as Reported | 246.53M | 182.89M | 120.88M | 93.66M | 73.14M | 52.32M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 2.67B | 1.99B | 1.26B | 874.64M | 721.01M | |
| Cash & Equivalents | 122.83M | 289.55M | 626.41M | 566.00K | 77.00K | |
| Accounts Receivable | 26.67M | 22.51M | 15.89M | 11.53M | 9.12M | |
| Other Receivables | 6.60M | 21.46M | 33.76M | |||
| Other Intangible Assets | 178.53M | 137.51M | 82.67M | 34.33M | 27.03M | |
| Restricted Cash | 155.00K | 513.00K | ||||
| Other Current Assets | 2.80M | 2.61M | 4.82M | 415.00K | ||
| Trading Asset Securities | 9.52M | 1.21M | ||||
| Deferred Long-Term Charges | 2.02M | 2.78M | 4.80M | |||
| Other Long-Term Assets | 12.78M | 4.86M | 1.32M | 280.00K | ||
| Total Assets | 3.03B | 2.47B | 2.03B | 921.63M | 758.02M | |
| Long-Term Debt | 596.15M | 426.01M | 25.76M | 38.84M | ||
| Accounts Payable | 57.10M | 42.74M | 23.72M | 11.99M | 12.43M | |
| Other Current Liabilities | 21.80M | 20.87M | 26.67M | |||
| Other Long-Term Liabilities | 84.44M | 66.70M | 40.15M | 21.24M | 14.97M | |
| Total Liabilities | 759.99M | 556.32M | 90.54M | 58.99M | 66.24M | |
| Common Stock | 1.21M | 1.05M | 1.05M | 691.78M | ||
| Additional Paid-In Capital | 2.34B | 1.96B | 1.95B | |||
| Distributions in Excess of Earnings | -85.25M | -46.10M | -15.02M | |||
| Comprehensive Income & Other | 7.85M | -4.61M | 1.21M | 862.64M | ||
| Total Common Equity | 2.27B | 1.91B | 1.94B | 862.64M | 691.78M | |
| Minority Interest | 7.34M | 4.28M | 773.00K | |||
| Shareholders' Equity | 2.27B | 1.91B | 1.94B | 862.64M | 691.78M | |
| Total Liabilities & Equity | 3.03B | 2.47B | 2.03B | 921.63M | 758.02M | |
| Total Debt | 596.15M | 426.01M | 25.76M | 38.84M | ||
| Net Cash (Debt) | -463.80M | -136.46M | 627.62M | -25.19M | -38.77M | |
| Net Cash Per Share | -4.24 | -1.30 | 5.97 | -0.24 | -0.37 | |
| Filing Date Shares Outstanding | 121.42M | 105.37M | 105.04M | 104.86M | 104.86M | |
| Total Common Shares Outstanding | 121.30M | 105.37M | 105.04M | 104.86M | 104.86M | |
| Book Value Per Share | 18.68 | 18.12 | 18.49 | 8.23 | ||
| Tangible Book Value | 2.09B | 1.77B | 1.86B | 828.31M | 664.75M | |
| Tangible Book Value Per Share | 17.21 | 16.81 | 17.70 | 7.90 | ||
| Land | 1.02B | 759.27M | 490.56M | 316.21M | 260.04M | |
| Buildings | 1.73B | 1.30B | 841.91M | 622.41M | 515.26M | |
| Construction In Progress | 41.53M | 27.36M | 14.46M | 13.50M | 24.55M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 27.44M | 39.83M | 10.26M | 31.01M | 25.73M | 20.66M |
| Depreciation & Amortization | 103.99M | 72.41M | 41.91M | 31.99M | 26.63M | 15.00M |
| Other Amortization | 2.25M | 1.59M | 346.00K | 161.00K | 161.00K | 176.00K |
| Gain (Loss) on Sale of Assets | -1.34M | -1.38M | -371.00K | |||
| Stock-Based Compensation | 11.90M | 12.95M | 3.83M | |||
| Change in Accounts Receivable | -3.63M | -5.45M | -859.00K | -2.67M | -1.77M | 608.00K |
| Change in Accounts Payable | -4.89M | 2.53M | 6.17M | -753.00K | -1.58M | -418.00K |
| Change in Other Net Operating Assets | 2.59M | 4.10M | -4.73M | -135.00K | 722.00K | -228.00K |
| Other Operating Activities | -2.23M | -1.97M | -2.67M | 427.00K | ||
| Operating Cash Flow | 136.10M | 124.60M | 54.26M | 59.24M | 49.88M | 36.23M |
| Acquisition of Real Estate Assets | -942.35M | -802.73M | -436.49M | -186.59M | -323.46M | -78.10M |
| Sale of Real Estate Assets | 1.78M | 1.84M | 563.00K | |||
| Net Sale / Acq. of Real Estate Assets | -940.56M | -800.89M | -436.49M | -186.02M | -323.46M | -78.10M |
| Other Investing Activities | -4.78M | -2.35M | -913.00K | |||
| Investing Cash Flow | -945.34M | -803.25M | -437.40M | -186.02M | -323.46M | -78.10M |
| Long-Term Debt Issued | 428.00M | |||||
| Long-Term Debt Repaid | -25.65M | -12.93M | -3.80M | -15.33M | ||
| Net Debt Issued (Repaid) | 200.00M | 428.00M | -25.65M | -12.93M | -3.80M | -15.33M |
| Issuance of Common Stock | 383.87M | 1.04B | 139.85M | 277.55M | 60.82M | |
| Repurchase of Common Stock | -3.71M | -3.09M | -23.00K | |||
| Common Dividends Paid | -73.69M | -77.38M | ||||
| Other Financing Activities | -4.50M | -5.74M | -5.03M | -411.00K | -4.40M | |
| Net Cash Flow | -307.28M | -336.86M | 625.69M | 131.00K | -245.00K | -788.00K |
| Levered Free Cash Flow | 157.03M | 119.60M | 62.75M | 49.89M | ||
| Unlevered Free Cash Flow | 173.91M | 125.60M | 62.97M | 50.68M | ||
| Change in Working Capital | -5.93M | 1.17M | 583.00K | -3.56M | -2.63M | -38.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.51B | 2.45B | 2.44B | |||
| Enterprise Value | 3.98B | 2.42B | 2.44B | |||
| Last Close Price | 28.94 | 22.79 | 22.15 | |||
| Price/FFO Ratio | 21.71 | 44.29 | ||||
| Price/AFFO Ratio | 21.67 | 44.67 | ||||
| PE Ratio | 116.37 | 62.26 | 244.03 | |||
| PS Ratio | 14.25 | 13.37 | 20.18 | |||
| PB Ratio | 1.55 | 1.28 | 1.26 | |||
| P/OCF Ratio | 25.82 | 19.63 | 44.95 | |||
| EV/Sales Ratio | 16.14 | 13.21 | 20.16 | |||
| EV/EBITDA Ratio | 26.97 | 23.45 | 32.13 | |||
| EV/EBIT Ratio | 91.45 | 78.89 | 71.81 | |||
| Debt / Equity Ratio | 0.26 | 0.22 | 0.03 | 0.06 | ||
| Debt / EBITDA Ratio | 4.04 | 4.13 | 0.39 | 0.72 | ||
| Net Debt / Equity Ratio | 0.20 | 0.07 | -0.32 | 0.03 | 0.06 | |
| Net Debt / EBITDA Ratio | 3.15 | 1.32 | -8.28 | 0.38 | 0.72 | |
| Asset Turnover | 0.09 | 0.08 | 0.08 | 0.11 | ||
| Quick Ratio | 2.09 | 5.24 | 13.44 | 1.01 | 0.74 | |
| Current Ratio | 2.12 | 5.28 | 13.54 | 1.06 | 0.78 | |
| Return on Equity (ROE) | 1.31% | 2.07% | 0.73% | 3.99% | ||
| Return on Assets (ROA) | 0.99% | 0.85% | 1.44% | 2.57% | ||
| Return on Invested Capital (ROIC) | 1.55% | 1.42% | 2.40% | 4.27% | 3.74% | |
| Earnings Yield | 0.86% | 1.63% | 0.42% | |||
| Dividend Yield | 2.35% | 2.76% | ||||
| Payout Ratio | 281.47% | 194.29% | ||||
| Buyback Yield / Dilution | -3.82% | -0.08% | -0.34% | |||
| Total Shareholder Return | -1.47% | 2.68% | -0.34% |