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City Office REIT Income Statement 2024-2011 | CIO
Brief overview of revenue and earnings at City Office REIT
This overview is based on financial performance over the past five years. The revenue attributed to City Office REIT moved from 156 million dollars to 171 million dollars between the two endpoints. The total change was +9.5%, with a CAGR of approximately 1.8%. The revenue trend is close to stagnation.
The five-year EBITDA result moved by −11.3%: from 87.9 million dollars to 78 million dollars. EBITDA lagged revenue, showing weaker operating momentum. Comparing the endpoints gives EBITDA margins of 56.2% and 45.6%. The business retained less EBITDA from each unit of revenue.
The final result was 1.8 million dollars initially and −17.7 million dollars in the final year. The move from profit to loss indicates a material deterioration in final efficiency.
Market value was 601 million dollars at the start and 210 million dollars at the end. Investors responded cautiously to the improvement in the business.
Overall conclusion
The financial trajectory is weak and requires a cautious interpretation. The weaker side of the profile includes a weaker final result, weak sales momentum and pressure on operating profitability. Future reports should be judged by revenue momentum, margins, and the conversion of sales into net income.
Annual Income Statement City Office REIT
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Market Cap |
210 M | 176 M | 368 M | -163 M | -82.6 M | 601 M | 431 M | 352 M | 255 M | 146 M | 108 M | - | - | - |
Shares |
40.1 M | 39.9 M | 42.1 M | 43.5 M | 47.2 M | 44 M | 37.7 M | 30.2 M | 20.5 M | 12.4 M | 8.48 M | - | - | - |
Historical Prices |
5.22 | 4.42 | 8.76 | -3.75 | -1.75 | -2.26 | -1.58 | -1.86 | -1.75 | -1.49 | -1.43 | - | - | - |
Net Income |
-17.7 M | -2.68 M | 17 M | 484 M | 4.53 M | 1.8 M | 38.2 M | 5.76 M | -843 K | -6.59 M | -3.04 M | -4.13 M | -1.6 M | -617 K |
Revenue |
171 M | 179 M | 180 M | 164 M | 161 M | 156 M | 129 M | 106 M | 72.5 M | 55.1 M | 36.9 M | 20.5 M | 11.5 M | 9.17 M |
Gross Profit |
- | - | - | - | - | 99 M | 79.6 M | 63.6 M | 44 M | 33.3 M | 21.9 M | 14.5 M | 7.41 M | 6.09 M |
Operating Income |
18.7 M | 31.3 M | 23 M | 33.2 M | 31.5 M | 28.8 M | 15.6 M | 15.2 M | -297 K | 4.53 M | 2.62 M | - | - | - |
Interest Expense |
34.3 M | 33.2 M | 27 M | 24.6 M | 27.7 M | 29.7 M | 23.9 M | 20.2 M | 14.8 M | 11.4 M | 7.85 M | - | - | - |
EBITDA |
78 M | 94.3 M | 85.5 M | 90.5 M | 91.8 M | 87.9 M | 68 M | 56.8 M | 29.9 M | 26.2 M | 15.7 M | 12 M | 5.47 M | 4.71 M |
Operating Expenses |
152 M | 148 M | 157 M | 131 M | 129 M | 70.2 M | 60.5 M | 48.4 M | 36.7 M | 26.7 M | 17.8 M | 10.2 M | 5.9 M | 4.52 M |
General and Administrative Expenses |
15.2 M | 14.8 M | 13.8 M | 15.5 M | 10.7 M | 11.1 M | 8.14 M | 6.79 M | 6.54 M | 5.03 M | 3.09 M | 1.06 M | 970 K | 676 K |
All numbers in USD currency
Quarterly Income Statement City Office REIT
| 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shares |
40.4 M | 40.4 M | 40.3 M | 40.2 M | 40.2 M | 40.2 M | 40.1 M | 39.9 M | 39.9 M | 39.9 M | 39.9 M | 39.7 M | 41.4 K | 43.6 M | 43.6 M | 43.6 M | 43.6 K | 43.5 M | 43.4 K | 43.4 M | 43.6 M | 47.5 M | 54.5 M | 54.6 M | 42.6 M | 39.6 M | 39.6 M | 39.5 M | 37.5 M | 36.1 M | 36.1 M | 36 M | 30.3 M | 30.3 M | 29.5 M | 24.4 M | 23.9 M | 20.7 M | 12.8 M | 12.5 M | 12.5 M | 12.4 M | 12.3 M | 12.3 M | 8.19 M | 8.06 M | 12.3 M | 1 K | - | - | - | - | - | - | - | - | - | - | - |
Net Income |
-3.81 M | -105 M | -1.67 M | - | -2.64 M | -3.75 M | -589 K | - | -43 K | -680 K | 704 K | - | 1.99 M | 2.9 M | 24.7 M | - | 866 K | 1.85 M | 49 M | 461 K | 2.89 M | 444 K | 824 K | 2.99 M | -1.11 M | 1.16 M | -1.09 M | -6.68 M | -1.3 M | -798 K | 47.1 M | -987 K | -1.78 M | 10.1 M | -1.47 M | -3.19 M | -1.94 M | 11.5 M | -7.12 M | -1.8 M | -2.5 M | -1.8 M | -743 K | -1.67 M | -2.37 M | -240 K | 1.94 M | -2.84 M | 158 K | -1.42 M | -76 K | - | - | - | - | - | - | - | - |
Revenue |
37.3 M | 42.3 M | 42.3 M | - | 42.4 M | 42.3 M | 44.5 M | - | 44.2 M | 44.6 M | 46 M | - | 45.5 M | 45.5 M | 44.9 M | - | 44.9 M | 40 M | 39.5 M | 39.8 M | 41.3 M | 39.6 M | 40.1 M | 39.1 M | 38.9 M | 41.2 M | 37.1 M | 34.2 M | 33.5 M | 30.2 M | 31.5 M | 31.2 M | 24.8 M | 25.2 M | 25.4 M | 21.3 M | 18.8 M | 16.1 M | 16.3 M | 17.5 M | 14.6 M | 11.6 M | 11.3 M | 10.5 M | 10 M | 8.39 M | 7.98 M | 5.86 M | 6.83 M | 4.41 M | 3.38 M | - | - | - | - | - | - | - | - |
Operating Income |
4.21 M | -96.6 M | 7.13 M | - | 6.16 M | 6.31 M | 7.96 M | - | 8.32 M | 7.92 M | 9.17 M | - | 9.05 M | 9.35 M | 9.09 M | - | 7.16 M | 7.76 M | 8.18 M | - | 8.64 M | 7.76 M | 7.69 M | - | 6.75 M | 8.68 M | 6.56 M | - | 5.06 M | 4.75 M | 6.04 M | - | 3.16 M | 3.74 M | 3.1 M | - | 1.64 M | 1.7 M | -4.83 M | - | 10 K | 802 K | 1.38 M | - | 595 K | 614 K | - | - | - | - | - | - | - | - | - | - | - | - | - |
Interest Expense |
7.61 M | 8.72 M | 8.63 M | - | 8.64 M | 8.47 M | 8.42 M | - | 8.19 M | 8.3 M | 8.3 M | - | 6.88 M | 6.28 M | 6.06 M | - | 5.92 M | 5.91 M | 6.57 M | - | 6.95 M | 7.13 M | 6.69 M | - | 7.7 M | 7.84 M | 7.48 M | - | 6.23 M | 5.44 M | 5.82 M | - | 4.88 M | 4.69 M | 4.4 M | - | 3.52 M | 3.39 M | 3.96 M | - | 2.99 M | 2.29 M | 2.18 M | - | 1.87 M | 1.79 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
EBITDA |
14.8 M | -80.5 M | 22.3 M | - | 20.8 M | 21 M | 23 M | - | 23 M | 23.7 M | 24.5 M | - | 24.6 M | 25 M | 24.9 M | - | 21.8 M | 22.7 M | 22.6 M | - | 23.8 M | 22.8 M | 22.6 M | - | 21.8 M | 23.3 M | 21 M | - | 18.4 M | 16.5 M | 17.9 M | - | 12.6 M | 12.9 M | 13.6 M | - | 9.4 M | 8.22 M | 1.72 M | - | 5.9 M | 5.3 M | 5.78 M | - | 4.65 M | 4.03 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating Expenses |
33.1 M | 139 M | 35.1 M | - | 36.2 M | 36 M | 36.5 M | - | 35.9 M | 36.7 M | 36.8 M | - | 36.5 M | 36.2 M | 35.8 M | - | 37.7 M | 32.2 M | 31.3 M | - | 32.6 M | 31.9 M | 32.4 M | - | 32.2 M | 32.5 M | 30.6 M | - | 28.5 M | 25.5 M | 25.5 M | - | 21.6 M | 21.4 M | 22.3 M | - | 17.2 M | 14.4 M | 21.1 M | - | 14.6 M | 10.8 M | 9.88 M | - | 9.4 M | 7.78 M | - | - | - | - | - | - | - | - | - | - | - | - | - |
General and Administrative Expenses |
3.78 M | 4.33 M | 3.73 M | - | 3.79 M | 3.82 M | 3.71 M | - | 3.53 M | 3.67 M | 3.76 M | - | 3.51 M | 3.61 M | 3.46 M | - | 7.9 M | 3.07 M | 2.8 M | - | 2.55 M | 2.7 M | 2.78 M | - | 2.78 M | 3.36 M | 2.3 M | - | 1.85 M | 1.97 M | 1.98 M | - | 1.45 M | 1.6 M | 2.19 M | - | 1.75 M | 1.54 M | 1.24 M | - | 411 K | 495 K | 408 K | - | 407 K | 364 K | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
The income statement is one of the three key financial reports of a company City Office REIT (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:
- How much revenue the company earned
- How much it spent on production, personnel, marketing, taxes, etc.
- What profit remained in the end
Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.
Features- The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
- Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
- A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.
Reports on the profits and losses of other stocks in the Reit office industry
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|---|---|---|---|---|---|
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Paramount Group
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CoreSite Realty Corporation
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Boston Properties
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Cousins Properties Incorporated
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Easterly Government Properties
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Hudson Pacific Properties
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SL Green Realty Corp.
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Franklin Street Properties Corp.
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JBG SMITH Properties
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Kilroy Realty Corporation
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Global Net Lease
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