SRG - Seritage Growth Properties
Price:
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CONSENSUS:
Hold
DETAILS
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||||||
| Revenue | 18.2 | 17.6 | 20.8 | 107.1 | 116.7 | 116.5 | 168.6 | 214.8 | 241.0 | 248.7 | 113.2 | 273.1 |
| Cost of Revenue | 16.4 | 20.3 | 27.4 | 65.7 | 80.3 | 77.9 | 80.7 | 71.2 | 65.4 | 65.2 | 94.2 | 96.1 |
| Gross Profit | 1.8 | (2.7) | (6.6) | 41.3 | 36.4 | 38.6 | 87.9 | 143.6 | 175.7 | 183.5 | 19.0 | 177.0 |
| Operating Expenses | ||||||||||||
| R&D Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A Expenses | 31.9 | 30.0 | 46.0 | 47.6 | 41.9 | 28.8 | 39.2 | 34.8 | 27.9 | 17.5 | 19.9 | 3.9 |
| Other Expenses | 6.3 | 13.1 | 14.5 | 41.1 | 51.2 | 96.0 | 104.6 | 226.9 | 262.3 | 177.4 | (10.0) | 0 |
| Operating Expenses | 38.2 | 43.1 | 60.5 | 88.7 | 93.1 | 124.8 | 143.7 | 261.7 | 290.2 | 194.9 | 10.0 | 118.1 |
| Operating Income | ||||||||||||
| Operating Income | (36.5) | (45.8) | (67.1) | (47.4) | (56.7) | (86.3) | (55.8) | (118.1) | (114.6) | (30.4) | 9.0 | 58.9 |
| Interest Expense | 20.3 | 25.0 | 44.6 | 86.7 | 108.0 | 91.3 | 94.5 | 90.0 | 70.1 | 63.6 | 60.6 | 0 |
| Interest Income | 1.6 | 2.5 | 17.1 | 37.8 | 9.3 | 3.4 | 6.8 | 7.9 | 0.9 | 0.3 | 0 | 66.8 |
| Profitability | ||||||||||||
| EBITDA | (41.5) | (113.7) | (95.7) | 8.4 | 120.6 | 34.6 | 108.7 | 106.0 | 211.7 | 170.7 | 44.1 | 173.2 |
| EBIT | (47.9) | (127.0) | (110.3) | (32.9) | 69.2 | (61.4) | 4.1 | (24.5) | (50.4) | (26.9) | (21.4) | 58.9 |
| Income Before Tax | (68.2) | (152.0) | (154.9) | (119.6) | (38.8) | (152.7) | (90.4) | (114.6) | (120.5) | (90.5) | (37.9) | (7.9) |
| Income Tax Expense | 0 | 1.6 | 0.0 | 0.5 | 0.2 | 0.3 | 0.2 | 0.3 | 0.3 | 0.5 | 0.9 | 0 |
| Net Income | (68.2) | (153.5) | (154.9) | (73.9) | (28.1) | (105.0) | (59.4) | (73.5) | (73.8) | (51.6) | (22.3) | (4.4) |
| Per Share Data | ||||||||||||
| EPS (Basic) | -1.30 | -2.82 | -2.84 | -2.42 | -0.92 | -3.99 | -2.49 | -2.07 | -2.18 | -1.64 | -0.71 | -0.14 |
| EPS (Diluted) | -1.30 | -2.82 | -2.85 | -2.42 | -0.92 | -3.99 | -2.49 | -2.07 | -2.18 | -1.64 | -0.71 | -0.14 |
| Shares Outstanding | 56.3 | 56.3 | 56.2 | 49.7 | 42.4 | 38.3 | 36.4 | 35.6 | 33.8 | 31.4 | 31.4 | 30.6 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||
| Cash & Cash Equivalents | 48.1 | 85.2 | 134.0 | 133.5 | 106.6 | 143.7 | 139.3 | 532.9 | 241.6 | 52.0 |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 3.7 | 7.9 | 12.2 | 41.5 | 28.9 | 41.6 | 54.5 | 36.9 | 30.8 | 23.2 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.0 | (13.6) | (9.9) |
| Other Current Assets | 0 | 12.5 | 69.6 | 501.7 | 51.9 | 53.3 | 5.3 | 3.1 | 195.8 | 102.7 |
| Total Current Assets | 51.8 | 105.6 | 215.8 | 676.7 | 187.4 | 238.6 | 210.0 | 582.4 | 454.6 | 167.9 |
| Non-Current Assets | ||||||||||
| Property, Plant & Equipment | 0 | 370.1 | 560.7 | 780.6 | 1,713.1 | 1,929.7 | 22.8 | 5.3 | 6.3 | 5.4 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0.2 | 1.0 | 0.9 | 1.8 | 14.8 | 18.6 | 68.2 | 123.7 | 310.1 | 464.4 |
| Long-Term Investments | 156.2 | 189.7 | 196.4 | 382.6 | 498.6 | 457.0 | 445.1 | 398.6 | 283.0 | 425.0 |
| Other Non-Current Assets | (156.2) | 11.3 | 0 | 0 | 0.2 | 5 | 9.3 | 5.4 | 2.5 | (1,062.8) |
| Total Non-Current Assets | 0.2 | 572.2 | 758.1 | 1,165.0 | 2,226.7 | 2,410.3 | 2,540.6 | 2,293.6 | 2,321.3 | 2,544.3 |
| Total Assets | 393.8 | 677.8 | 973.9 | 1,841.7 | 2,414.1 | 2,648.9 | 2,750.6 | 2,876.1 | 2,775.8 | 2,712.2 |
| Current Liabilities | ||||||||||
| Account Payables | 0 | 32.0 | 42.3 | 86.4 | 96.2 | 133.2 | 34.4 | 28.1 | 9.6 | 16.1 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 8.3 | 20.5 | 14.7 | 2.0 |
| Other Current Liabilities | 13.3 | 0 | 0 | 0 | 0 | 0 | (29.5) | (23.5) | 0 | 0 |
| Total Current Liabilities | 13.3 | 32.0 | 43.4 | 88.4 | 105.7 | 142.7 | 79.2 | 104.1 | 81.1 | 88.5 |
| Non-Current Liabilities | ||||||||||
| Long-Term Debt | 47.7 | 240 | 360 | 1,029.8 | 1,439.3 | 1,598.9 | 1,598.5 | 1,598.1 | 1,345.5 | 1,166.9 |
| Deferred Tax Liabilities | 0 | 0 | 0.8 | 0 | 0 | 0 | 2.9 | (9.3) | (0.8) | 13.7 |
| Other Non-Current Liabilities | 0 | 0 | 0.8 | 1.0 | 3.7 | 4.2 | 0 | 23.5 | 13.7 | 26.5 |
| Total Non-Current Liabilities | 47.7 | 240 | 367.3 | 1,030.7 | 1,463.6 | 1,623.5 | 1,628.0 | 1,621.5 | 1,373.9 | 1,199.4 |
| Total Liabilities | 61.0 | 272.0 | 410.7 | 1,119.1 | 1,569.3 | 1,766.2 | 1,707.2 | 1,725.6 | 1,455.0 | 1,287.9 |
| Stockholders' Equity | ||||||||||
| Common Stock | 0.6 | 0.6 | 0.6 | 0.6 | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.3 |
| Retained Earnings | (1,031.9) | (958.8) | (800.3) | (640.5) | (553.8) | (528.6) | (418.7) | (344.1) | (229.8) | (121.3) |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | 0 | 0 | 0 | 1,043.4 | 1,150.5 | (139.5) | (89.9) |
| Total Stockholders' Equity | 331.4 | 404.5 | 562.0 | 720.5 | 687.7 | 649.0 | 731.4 | 780.8 | 886.7 | 804.6 |
| Total Liabilities & Equity | 393.8 | 677.8 | 973.9 | 1,841.7 | 2,414.1 | 2,648.9 | 2,750.6 | 2,876.1 | 2,775.8 | 2,712.2 |
| Debt Metrics | ||||||||||
| Total Debt | 47.7 | 240 | 367.6 | 1,031.8 | 1,460.0 | 1,619.3 | 1,606.2 | 1,598.1 | 1,345.5 | 1,166.9 |
| Net Debt | (0.4) | 154.8 | 233.6 | 898.3 | 1,353.4 | 1,475.6 | 1,466.9 | 1,065.2 | 1,104.0 | 1,114.8 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | (68.2) | (153.5) | (154.9) | (120.1) | (39.0) | (153.0) | (90.6) | (114.9) | (120.8) | (91.0) |
| Depreciation & Amortization | 6.3 | 13.1 | 14.5 | 41.3 | 51.4 | 94.2 | 104.1 | 225.9 | 261.5 | 176.4 |
| Stock-Based Compensation | 0.2 | 1.5 | 2.7 | 2.8 | 1.9 | (3.0) | 6.8 | 7.5 | 7.0 | 1.1 |
| Change in Working Capital | 7.0 | (7.0) | 7.1 | (29.2) | (33.6) | 30.4 | (10.6) | 5.0 | (34.1) | 1.0 |
| Other Non-Cash Items | 19.8 | 92.4 | 77.6 | (12.7) | (1.6) | 5.4 | (15.2) | 13.1 | 5 | (7.5) |
| Operating Cash Flow | (34.9) | (53.5) | (53.1) | (117.9) | (136.0) | (47.3) | (57.7) | 54.9 | 69.6 | 92.4 |
| Investing Activities | ||||||||||
| Capital Expenditure | 0 | 0 | 0 | (574.2) | (248.1) | (41.7) | 301.4 | 0 | (243.1) | (66.2) |
| Acquisitions | 0 | 0.2 | 0.1 | 30.2 | (38.6) | (43.3) | (54.2) | (27.0) | 219.4 | (9) |
| Purchases of Investments | 0 | 0 | (93.1) | (124.8) | (144.3) | (309.7) | (441.9) | (340.6) | (281.1) | (75.2) |
| Sales/Maturities of Investments | 0 | 0 | 673.5 | 699.0 | 392.4 | 351.4 | 140.5 | 210.1 | 308.2 | 22.4 |
| Other Investing Activities | 198.5 | 126.7 | 732.9 | 555.9 | 299.4 | 86.2 | (245.3) | (92.5) | 50.9 | 22.4 |
| Investing Cash Flow | 198.5 | 126.9 | 732.9 | 586.1 | 260.7 | 42.9 | (299.5) | (119.5) | 27.1 | (52.8) |
| Financing Activities | ||||||||||
| Net Debt Issuance | (190) | (120) | (670) | (432.1) | (160) | 20.4 | 0 | 244.4 | 174.4 | 20.0 |
| Stock Repurchased | (0.1) | (0.6) | (0.3) | 0 | (0.3) | (0.1) | (3.5) | (1.8) | 310.0 | 0 |
| Dividends Paid | (4.9) | (4.9) | (4.9) | (4.9) | (4.9) | (4.9) | (22.9) | (39.7) | (34.2) | (39.4) |
| Other Financing Activities | (4.0) | 0.2 | 0.1 | 0 | 4.0 | 0 | (10.1) | (22.7) | (29.3) | (31.1) |
| Financing Cash Flow | (199.0) | (125.3) | (675.1) | (437.0) | (161.2) | 15.4 | (36.4) | 180.2 | 180.8 | (50.5) |
| Cash Position | ||||||||||
| Net Change in Cash | (35.4) | (52.0) | 4.8 | 31.2 | (36.5) | 11.0 | (393.6) | 115.6 | 277.6 | (10.8) |
| Cash at Beginning | 97.7 | 149.7 | 144.9 | 113.8 | 150.3 | 139.3 | 532.9 | 417.2 | 139.6 | 62.9 |
| Cash at End | 62.3 | 97.7 | 149.7 | 144.9 | 113.8 | 150.3 | 139.3 | 532.9 | 417.2 | 52.0 |
| Free Cash Flow | (34.9) | (53.5) | (786.0) | (692.1) | (384.1) | (89.0) | 243.7 | 54.9 | (173.5) | 26.2 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 18.2 | 17.6 | 20.8 | 107.1 | 116.7 | 116.5 | 168.6 | 214.8 | 241.0 | 248.7 | 113.2 | 273.1 |
| Gross Profit | 1.8 | (2.7) | (6.6) | 41.3 | 36.4 | 38.6 | 87.9 | 143.6 | 175.7 | 183.5 | 19.0 | 177.0 |
| Operating Income | (36.5) | (45.8) | (67.1) | (47.4) | (56.7) | (86.3) | (55.8) | (118.1) | (114.6) | (30.4) | 9.0 | 58.9 |
| Net Income | (68.2) | (153.5) | (154.9) | (73.9) | (28.1) | (105.0) | (59.4) | (73.5) | (73.8) | (51.6) | (22.3) | (4.4) |
| EPS (Diluted) | -1.30 | -2.82 | -2.85 | -2.42 | -0.92 | -3.99 | -2.49 | -2.07 | -2.18 | -1.64 | -0.71 | -0.14 |
| Balance Sheet | ||||||||||||
| Cash & Equivalents | 48.1 | 85.2 | 134.0 | 133.5 | 106.6 | 143.7 | 139.3 | 532.9 | 241.6 | 52.0 | ||
| Total Assets | 393.8 | 677.8 | 973.9 | 1,841.7 | 2,414.1 | 2,648.9 | 2,750.6 | 2,876.1 | 2,775.8 | 2,712.2 | ||
| Total Debt | 47.7 | 240 | 367.6 | 1,031.8 | 1,460.0 | 1,619.3 | 1,606.2 | 1,598.1 | 1,345.5 | 1,166.9 | ||
| Stockholders' Equity | 331.4 | 404.5 | 562.0 | 720.5 | 687.7 | 649.0 | 731.4 | 780.8 | 886.7 | 804.6 | ||
| Cash Flow | ||||||||||||
| Operating Cash Flow | (34.9) | (53.5) | (53.1) | (117.9) | (136.0) | (47.3) | (57.7) | 54.9 | 69.6 | 92.4 | ||
| Capital Expenditure | 0 | 0 | 0 | (574.2) | (248.1) | (41.7) | 301.4 | 0 | (243.1) | (66.2) | ||
| Free Cash Flow | (34.9) | (53.5) | (786.0) | (692.1) | (384.1) | (89.0) | 243.7 | 54.9 | (173.5) | 26.2 | ||