Updated
OFFICE PROPERTIES INCOME TRUSTOPI · Real Estate
$12.99+0.78%
Market cap$960M
IndustryREIT - Office
OFFICE PROPERTIES INCOME TRUST (OPI) Financial statements
OFFICE PROPERTIES INCOME TRUST reported revenue of $443M in fiscal 2025, up 4.3% a year over 8 years.
Key figures
Net income was -$272M. The diluted share count rose 305% over the period (dilution).
- Revenue, FY2025
- $443M-11.8% on 2024
- Net income
- -$272M+100.1% on 2024
- Operating margin
- 1.4%
- Free cash flow
- —
Revenue and free cash flow
Fiscal years, from OFFICE PROPERTIES INCOME TRUST's 10-K filings.
OFFICE PROPERTIES INCOME TRUST revenue and free cash flow
FY2016–FY2025OPIRevenue$443MOPIFree cash flow$153M
Margins
How much of each dollar of revenue is left after the cost of sales, after operating costs, and at the bottom line.
OFFICE PROPERTIES INCOME TRUST margins
FY2016–FY2025OPIOperating margin1.4%OPINet margin-62%
Financial statements
Fiscal 2016–2025.
OFFICE PROPERTIES INCOME TRUST income statement, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $317M | $427M | $678M | — | — | — | — | $502M | $443M |
| Selling, general and admin | $15M | $19M | $25M | $33M | $28M | $27M | $25M | $23M | $21M | $19M |
| Operating income | $67M | $54M | $50M | $104M | — | — | — | — | -$94M | $6M |
| Interest expense | $45M | $65M | $90M | $135M | $108M | $112M | $103M | $111M | $164M | $203M |
| Pre-tax income | $23M | -$10M | -$25M | $32M | $8M | -$5M | -$2M | -$47M | -$135M | -$272M |
| Income tax | $101,000 | $101,000 | $117,000 | $778,000 | $377,000 | $251,000 | $270,000 | $351,000 | $203,000 | $116,000 |
| Net income | $58M | $12M | -$22M | $30M | $7M | -$8M | -$6M | -$69M | -$136M | -$272M |
| EPS (diluted) | $3.26 | $0.56 | -$0.90 | $0.63 | $0.14 | -$0.17 | -$0.14 | -$1.44 | -$2.63 | -$3.79 |
| Diluted shares | 18M | 21M | 25M | 48M | 48M | 48M | 48M | 48M | 52M | 72M |
| Operating margin | — | 17.2% | 11.8% | 15.3% | — | — | — | — | -18.7% | 1.4% |
| Net margin | — | 3.8% | -5.1% | 4.5% | — | — | — | — | -27.1% | -61.5% |
OFFICE PROPERTIES INCOME TRUST balance sheet, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $30M | $17M | $35M | $94M | $42M | $83M | $12M | $12M | $261M | $29M |
| Total assets | $2.4B | $3.7B | $5.2B | $4.2B | $3.9B | $4.2B | $4.0B | $4.0B | $3.8B | $3.5B |
| Long-term debt | $1.4B | $2.2B | $3.3B | — | $2.2B | $2.6B | $2.4B | — | $2.5B | — |
| Total liabilities | $1.5B | $2.4B | $3.5B | $2.5B | $2.3B | $2.7B | $2.6B | $2.7B | $2.7B | $2.6B |
| Shareholders' equity | $935M | $1.3B | $1.8B | $1.7B | $1.6B | $1.5B | $1.4B | $1.3B | $1.2B | $881M |
| Net debt | $1.4B | $2.2B | $3.2B | -$94M | $2.2B | $2.5B | $2.4B | -$12M | $2.3B | -$29M |
OFFICE PROPERTIES INCOME TRUST cash flow, fiscal 2016–2025
| USD | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $127M | $138M | $145M | $215M | $234M | $221M | $193M | $142M | $67M | -$7M |
| Capital spending | $33M | $46M | $48M | $63M | — | — | — | — | — | — |
| Free cash flow | $94M | $92M | $97M | $153M | — | — | — | — | — | — |
| Dividends paid | $122M | $145M | $171M | $106M | $106M | $106M | $107M | $63M | $2M | $1M |
| Share buybacks (net) | -$337,000 | -$264,000 | -$232,000 | -$473,000 | -$434,000 | -$1M | -$540,000 | -$294,000 | -$192,000 | -$32,000 |
| Net borrowing | $300M | $298M | $0 | — | — | — | — | — | — | — |
| Free cash flow margin | — | 28.9% | 22.8% | 22.5% | — | — | — | — | — | — |
| Dividends per share | $6.89 | $6.86 | $6.87 | $2.20 | $2.21 | $2.21 | $2.21 | $1.31 | $0.04 | $0.02 |
How OFFICE PROPERTIES INCOME TRUST compares
OFFICE PROPERTIES INCOME TRUST's operating margin is higher than 20% of Real Estate companies and 31% of the 2,820 companies with an operating margin figure.
| Higher than | Real Estate | All stocks |
|---|---|---|
| Operating margin | 20% | 31% |
| Net margin | 3% | 9% |
| Revenue growth | 9% | 8% |
| ROE | 3% | 8% |
Questions about OFFICE PROPERTIES INCOME TRUST
What was OFFICE PROPERTIES INCOME TRUST's revenue in 2025?
$443M in fiscal 2025, from its 10-K filing.
From OFFICE PROPERTIES INCOME TRUST's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.