NYSE : ONL
Orion Properties Inc. — Financial statements
Real Estate · REIT - Office · United States
Last price 2.37 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 135.20M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 142.16M | 146.83M | 164.06M | 194.24M | 207.35M | 79.46M |
| Other Revenue | -10.55M | -11.00M | 67.00K | 365.00K | 241.00K | 215.00K |
| Total Revenue | 131.61M | 135.82M | 164.12M | 194.61M | 207.59M | 79.67M |
| Property Expenses | 61.07M | 65.73M | 65.69M | 61.29M | 63.16M | 21.32M |
| Selling, General & Administrative | 20.33M | 20.31M | 20.09M | 18.72M | 15.91M | 3.83M |
| Depreciation & Amortization | 54.48M | 58.75M | 100.82M | 109.11M | 131.37M | 43.92M |
| Total Operating Expenses | 135.88M | 144.78M | 186.60M | 189.12M | 210.43M | 69.07M |
| Operating Income | -4.27M | -8.96M | -22.48M | 5.49M | -2.84M | 10.60M |
| Interest Expense | -30.53M | -32.12M | -32.64M | -29.67M | -30.17M | -4.27M |
| Other Non-Operating Income | -8.15M | -5.02M | 687.00K | 911.00K | 223.00K | |
| EBT Excluding Unusual Items | -42.95M | -46.11M | -54.43M | -23.27M | -32.79M | 6.33M |
| Gain (Loss) on Sale of Assets | 34.99M | 7.06M | 31.00K | 2.35M | ||
| Asset Writedown | -84.46M | -99.38M | -47.55M | -33.11M | -66.36M | -49.86M |
| Other Unusual Items | -1.13M | -600.00K | -778.00K | -504.00K | -468.00K | -3.78M |
| Pretax Income | -93.55M | -139.03M | -102.76M | -56.85M | -97.26M | -47.31M |
| Income Tax Expense | 268.00K | 259.00K | 214.00K | 456.00K | 212.00K | 157.00K |
| Earnings From Continuing Operations | -93.81M | -139.29M | -102.98M | -57.31M | -97.47M | -47.46M |
| Minority Interest in Earnings | -29.00K | -23.00K | -36.00K | 9.00K | -20.00K | -17.00K |
| Net Income | -93.84M | -139.31M | -103.01M | -57.30M | -97.49M | -47.48M |
| Net Income to Common | -93.84M | -139.31M | -103.01M | -57.30M | -97.49M | -47.48M |
| Basic Shares Outstanding | 56.90M | 56.23M | 55.90M | 56.41M | 56.63M | 56.63M |
| Diluted Shares Outstanding | 56.90M | 56.23M | 55.90M | 56.41M | 56.63M | 56.63M |
| EPS (Basic) | -1.65 | -2.48 | -1.84 | -1.02 | -1.72 | -0.84 |
| EPS (Diluted) | -1.66 | -2.48 | -1.84 | -1.02 | -1.72 | -0.84 |
| Dividend Per Share | 0.08 | 0.08 | 0.40 | 0.40 | 0.40 | |
| Operating Margin | -3.24% | -6.60% | -13.70% | 2.82% | -1.37% | 13.30% |
| Profit Margin | -71.30% | -102.56% | -62.77% | -29.45% | -46.96% | -59.59% |
| EBITDA | 48.96M | 48.49M | 77.24M | 113.40M | 127.33M | 53.52M |
| EBITDA Margin | 37.20% | 35.70% | 47.06% | 58.27% | 61.33% | 67.18% |
| D&A For Ebitda | 53.23M | 57.45M | 99.72M | 107.91M | 130.17M | 42.92M |
| EBIT | -4.27M | -8.96M | -22.48M | 5.49M | -2.84M | 10.60M |
| EBIT Margin | -3.24% | -6.60% | -13.70% | 2.82% | -1.37% | 13.30% |
| Funds From Operations (FFO) | 21.71M | 24.32M | 47.08M | 86.64M | 99.66M | 46.69M |
| FFO Per Share | 0.38 | 0.43 | 0.84 | 1.54 | 1.76 | |
| Adjusted Funds From Operations (AFFO) | 24.32M | 47.08M | 86.64M | 99.66M | 46.69M | |
| AFFO Per Share | 0.43 | 0.84 | 1.54 | 1.76 | ||
| FFO Payout Ratio | 20.80% | 36.89% | 47.48% | 26.06% | 17.05% | |
| Revenue as Reported | 142.92M | 147.65M | 164.86M | 195.04M | 208.12M | 79.73M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 947.48M | 979.43M | 1.13B | 1.19B | 1.26B | 1.38B |
| Cash & Equivalents | 16.87M | 22.36M | 15.60M | 22.47M | 20.64M | 29.32M |
| Accounts Receivable | 41.11M | 35.33M | 22.83M | 24.66M | 21.64M | 17.92M |
| Other Intangible Assets | 77.87M | 75.95M | 95.94M | 126.36M | 202.83M | 298.11M |
| Restricted Cash | 46.66M | 38.28M | 41.57M | 34.73M | 34.67M | |
| Other Current Assets | 2.90M | 14.93M | 11.80M | 1.32M | 3.81M | 3.73M |
| Trading Asset Securities | 6.31M | 299.00K | ||||
| Deferred Long-Term Charges | 5.40M | 1.16M | 4.60M | 7.69M | 4.62M | 6.25M |
| Other Long-Term Assets | 1.79M | 3.07M | 17.31M | 18.50M | 16.89M | 19.27M |
| Total Assets | 1.14B | 1.17B | 1.34B | 1.42B | 1.57B | 1.76B |
| Current Portion of Long-Term Debt | 5.00K | 15.00K | 264.00K | 173.81M | ||
| Current Portion of Leases | 467.00K | 778.00K | ||||
| Long-Term Debt | 433.80M | 463.96M | 490.22M | 468.86M | 352.17M | 616.85M |
| Long-Term Leases | 9.63M | 8.86M | ||||
| Accounts Payable | 3.18M | 2.81M | 1.16M | 1.61M | 1.79M | 1.80M |
| Accrued Expenses | 13.22M | 22.19M | 22.39M | 22.59M | 22.04M | 15.54M |
| Other Current Liabilities | 10.22M | 16.43M | 13.67M | 11.86M | 8.00M | 32.00K |
| Other Long-Term Liabilities | 35.53M | 30.96M | 43.71M | 31.75M | 37.41M | 36.96M |
| Total Liabilities | 506.05M | 545.99M | 571.17M | 536.93M | 595.22M | 671.19M |
| Common Stock | 57.00K | 56.00K | 56.00K | 56.00K | 57.00K | 57.00K |
| Additional Paid-In Capital | 1.15B | 1.15B | 1.15B | 1.14B | 1.15B | 1.15B |
| Retained Earnings | -520.01M | -528.48M | -384.35M | -258.81M | -178.91M | -58.72M |
| Comprehensive Income & Other | -5.00K | -15.00K | -264.00K | 6.31M | 299.00K | |
| Total Common Equity | 632.75M | 623.21M | 763.92M | 885.62M | 974.47M | 1.09B |
| Minority Interest | 1.28M | 1.30M | 1.34M | 1.38M | 1.39M | 1.37M |
| Shareholders' Equity | 634.03M | 624.51M | 765.26M | 887.00M | 975.86M | 1.09B |
| Total Liabilities & Equity | 1.14B | 1.17B | 1.34B | 1.42B | 1.57B | 1.76B |
| Total Debt | 443.90M | 473.60M | 490.24M | 469.12M | 525.98M | 616.85M |
| Net Cash (Debt) | -427.03M | -451.24M | -474.64M | -446.65M | -499.04M | -587.23M |
| Net Cash Per Share | -7.50 | -8.02 | -8.49 | -7.92 | -8.81 | -10.37 |
| Filing Date Shares Outstanding | 57.04M | 56.44M | 56.11M | 55.78M | 56.64M | 56.63M |
| Total Common Shares Outstanding | 57.04M | 56.31M | 55.95M | 55.78M | 56.64M | 56.63M |
| Book Value Per Share | 11.09 | 11.07 | 13.65 | 15.88 | 17.20 | 19.19 |
| Tangible Book Value | 554.88M | 547.27M | 667.97M | 759.26M | 771.64M | 788.81M |
| Tangible Book Value Per Share | 9.73 | 9.72 | 11.94 | 13.61 | 13.62 | 13.93 |
| Land | 167.25M | 176.53M | 227.15M | 223.26M | 238.22M | 250.19M |
| Buildings | 956.88M | 976.68M | 1.06B | 1.10B | 1.13B | 1.23B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -93.84M | -139.31M | -103.01M | -57.30M | -97.49M | -47.48M |
| Depreciation & Amortization | 53.23M | 57.45M | 99.72M | 107.91M | 130.17M | 42.92M |
| Other Amortization | 4.33M | 4.23M | 4.20M | 4.28M | 4.48M | 728.00K |
| Gain (Loss) on Sale of Assets | -34.99M | -7.06M | -31.00K | -2.35M | ||
| Asset Writedown | 84.46M | 99.38M | 47.55M | 33.11M | 66.36M | 49.86M |
| Stock-Based Compensation | 4.05M | 3.90M | 3.76M | 2.73M | 1.76M | 65.00K |
| Income (Loss) on Equity Investments | 11.30M | 11.82M | 740.00K | 435.00K | 524.00K | 56.00K |
| Change in Accounts Receivable | 555.00K | 1.28M | 2.55M | 1.34M | 2.25M | -5.02M |
| Change in Accounts Payable | -5.53M | -2.07M | -3.12M | 1.20M | 6.80M | 11.55M |
| Other Operating Activities | -945.00K | -6.04M | 1.89M | -4.58M | 1.74M | 3.42M |
| Operating Cash Flow | 22.61M | 23.58M | 54.26M | 89.09M | 114.23M | 56.11M |
| Acquisition of Real Estate Assets | -85.63M | -52.47M | -58.66M | -20.78M | -11.62M | -9.92M |
| Sale of Real Estate Assets | 131.22M | 71.95M | 6.42M | 23.37M | 31.85M | |
| Net Sale / Acq. of Real Estate Assets | 45.59M | 19.48M | -52.24M | 2.59M | 20.23M | -9.92M |
| Investment in Marketable & Equity Securities | -8.33M | -8.33M | -413.00K | 1.84M | 2.25M | -2.35M |
| Other Investing Activities | 10.45M | 5.62M | 1.39M | 859.00K | ||
| Investing Cash Flow | 47.71M | 16.78M | -51.26M | 5.29M | 22.48M | -12.26M |
| Long-Term Debt Issued | 13.00M | 54.00M | 175.00M | 425.00M | 620.00M | |
| Long-Term Debt Repaid | -40.00M | -33.00M | -234.00M | -515.03M | -36.48M | |
| Net Debt Issued (Repaid) | -46.40M | -27.00M | 21.00M | -59.00M | -90.03M | 583.52M |
| Repurchase of Common Stock | -628.00K | -475.00K | -170.00K | -5.11M | -20.00K | |
| Common Dividends Paid | -4.52M | -8.97M | -22.36M | -22.58M | -16.99M | -587.16M |
| Other Financing Activities | -8.72M | -440.00K | -1.50M | -5.80M | -3.68M | -14.81M |
| Net Cash Flow | 10.05M | 3.47M | -28.00K | 1.89M | 25.99M | 25.40M |
| Levered Free Cash Flow | -65.18M | -19.93M | 36.31M | 85.01M | 80.12M | 45.02M |
| Unlevered Free Cash Flow | -49.73M | -3.55M | 53.02M | 99.58M | 94.61M | 46.96M |
| Cash Interest Paid | 26.46M | 27.89M | 28.95M | 25.28M | 25.11M | 2.41M |
| Cash Income Tax Paid | 147.00K | 198.00K | 207.00K | 463.00K | 634.00K | 98.00K |
| Change in Working Capital | -4.98M | -787.00K | -577.00K | 2.54M | 9.05M | 6.54M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 135.20M | 127.27M | 207.57M | 319.06M | 483.66M | 1.06B |
| Enterprise Value | 562.22M | 587.56M | 686.51M | 825.02M | 1.02B | 1.07B |
| Last Close Price | 2.37 | 2.20 | 3.49 | 4.81 | 6.72 | 14.13 |
| Price/FFO Ratio | 7.52 | 5.13 | 4.16 | 3.13 | 3.82 | |
| Price/AFFO Ratio | 5.10 | 4.15 | 3.13 | 3.82 | ||
| PS Ratio | 1.03 | 0.94 | 1.26 | 1.64 | 2.33 | 13.27 |
| PB Ratio | 0.21 | 0.20 | 0.27 | 0.36 | 0.50 | 0.97 |
| P/OCF Ratio | 5.98 | 5.40 | 3.83 | 3.58 | 4.23 | 18.84 |
| EV/Sales Ratio | 4.27 | 4.33 | 4.18 | 4.24 | 4.91 | 13.39 |
| EV/EBITDA Ratio | 11.48 | 12.12 | 8.89 | 7.28 | 8.00 | 19.93 |
| EV/EBIT Ratio | 150.33 | 100.64 | ||||
| Debt / Equity Ratio | 0.70 | 0.76 | 0.64 | 0.53 | 0.54 | 0.57 |
| Debt / EBITDA Ratio | 8.85 | 9.53 | 6.35 | 4.14 | 4.13 | 11.52 |
| Net Debt / Equity Ratio | 0.67 | 0.72 | 0.62 | 0.50 | 0.51 | 0.54 |
| Net Debt / EBITDA Ratio | 8.72 | 9.31 | 6.14 | 3.94 | 3.92 | 10.97 |
| Asset Turnover | 0.11 | 0.11 | 0.12 | 0.13 | 0.12 | 0.07 |
| Quick Ratio | 2.14 | 1.37 | 1.03 | 1.30 | 0.24 | 2.73 |
| Current Ratio | 3.97 | 2.63 | 2.47 | 2.29 | 0.42 | 2.95 |
| Return on Equity (ROE) | -13.76% | -20.04% | -12.46% | -6.15% | -9.44% | -5.99% |
| Return on Assets (ROA) | -0.22% | -0.45% | -1.02% | 0.23% | -0.11% | 0.57% |
| Earnings Yield | -69.91% | -109.46% | -49.63% | -17.96% | -20.16% | -4.49% |
| Dividend Yield | 3.38% | 3.54% | 10.78% | 6.99% | 4.68% | |
| Buyback Yield / Dilution | -1.52% | -0.59% | 0.90% | 0.39% | -0.01% | |
| Total Shareholder Return | 1.85% | 2.95% | 11.68% | 7.38% | 4.67% |