Centerspace (CSR) financial statements
Centerspace reported revenue of $274M in fiscal 2025, up 6.1% a year over 9 years.
Net income was $17M and the operating margin 23.6%, against -18.8% in 2017.
Free cash flow was $64M, and the company returned $51M in dividends and $3M in net buybacks.
The diluted share count rose 22% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Centerspace's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $160M | $170M | $122M | $186M | $178M | $202M | $257M | $261M | $261M | $274M |
| Cost of revenue | — | $6M | — | $6M | $6M | $9M | $10M | $9M | $9M | $10M |
| Gross profit | — | $164M | — | $180M | $172M | $193M | $247M | $252M | $252M | $264M |
| Selling, general and admin | $16M | $14M | — | $14M | $13M | $16M | $18M | $20M | $18M | $21M |
| Operating income | -$30M | -$24M | — | $109M | $34M | $30M | $14M | $84M | $20M | $65M |
| Interest expense | $34M | $34M | — | $31M | $28M | $29M | $33M | $36M | $37M | $45M |
| Net income | $43M | $117M | — | $79M | $4M | -$29,000 | -$14M | $41M | -$11M | $17M |
| EPS (diluted) | $2.58 | $8.71 | — | $6.00 | -$0.15 | -$0.47 | -$1.35 | $2.32 | -$1.27 | $1.02 |
| Diluted shares | 14M | 13M | — | 13M | 13M | 14M | 15M | 17M | 16M | 17M |
| Gross margin | — | 96.7% | — | 96.7% | 96.7% | 95.7% | 96.1% | 96.4% | 96.5% | 96.5% |
| Operating margin | -18.8% | -14.0% | — | 58.7% | 19.0% | 14.8% | 5.4% | 32.3% | 7.8% | 23.6% |
| Net margin | 27.1% | 68.8% | — | 42.4% | 2.5% | -0.0% | -5.5% | 15.8% | -4.3% | 6.2% |
Balance sheet
Fiscal years, from Centerspace's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $29M | $12M | $14M | $27M | $392,000 | $31M | $10M | $9M | $12M | $13M |
| Property, plant and equipment | $901,000 | $820,000 | $686,000 | $1M | $3M | $3M | $3M | $3M | $3M | $526,000 |
| Goodwill | $2M | $2M | $2M | $1M | $986,000 | $866,000 | $866,000 | $491,000 | $491,000 | $316,000 |
| Total assets | $1.5B | $1.4B | $1.3B | $1.4B | $1.5B | $1.9B | $2.0B | $1.9B | $1.9B | $1.9B |
| Total liabilities | $831M | $732M | $687M | $696M | $775M | $918M | $1.1B | $979M | $1.0B | $1.1B |
| Shareholders' equity | $554M | $606M | $569M | $619M | $618M | $772M | $730M | $710M | $752M | $719M |
| Net debt | -$29M | -$12M | -$14M | -$27M | -$392,000 | -$31M | -$10M | -$9M | -$12M | -$13M |
Cash flow
Fiscal years, from Centerspace's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $79M | $55M | — | $70M | $61M | $84M | $92M | $90M | $98M | $98M |
| Capital spending | $41M | $18M | — | $21M | $2M | $1M | $122,000 | $0 | $57M | $34M |
| Free cash flow | $38M | $37M | — | $49M | $60M | $83M | $92M | $90M | $42M | $64M |
| Stock-based compensation | $6,000 | $2M | — | $2M | $2M | $3M | $3M | $3M | $3M | $3M |
| Dividends paid | $56M | $34M | — | $33M | $35M | $38M | $44M | $44M | $46M | $51M |
| Share buybacks (net) | -$5M | -$10M | — | -$18M | $0 | $0 | -$29M | -$12M | -$5M | -$3M |
| Net borrowing | -$215M | -$205M | — | -$118M | -$33M | $160M | -$29M | $43M | -$11M | -$97M |
| Free cash flow margin | 23.7% | 21.9% | — | 26.2% | 33.5% | 41.0% | 35.8% | 34.3% | 15.9% | 23.5% |
| Dividends per share | $4.07 | $2.50 | — | $2.50 | $2.79 | $2.79 | $2.92 | $2.56 | $2.95 | $3.04 |
Questions
What was Centerspace's revenue in 2025?
$274M in fiscal 2025, from its 10-K filing.
How much free cash flow does Centerspace generate?
$64M in fiscal 2025 (operating cash flow minus capital spending).
From Centerspace's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.