Getty Realty Corp. (GTY) 10-Year Financial Performance & Capital Metrics

GTY • • REIT / Real Estate

Real EstateRetail REITsSpecialty Retail PropertiesConvenience & Restaurant Focus

AboutGetty Realty Corp. is the leading publicly traded real estate investment trust in the United States specializing in the ownership, leasing and financing of convenience store and gasoline station properties. As of September 30, 2020, the Company owned 896 properties and leased 58 properties from third-party landlords in 35 states across the United States and Washington, D.C.Show more

Revenue $203M +9.4%
FFO $131M +17.9%
FFO/Share 2.41 +8.6%
FFO Payout 76.21% -2.3%
FFO per Share 2.41 +8.6%
NOI Margin 92.69% +6.3%
FFO Margin 64.65% +7.8%
ROE 7.41% +5.7%
ROA 3.74% +5.3%
Debt/Assets 46.56% +9.8%
Net Debt/EBITDA 5.34 -1.0%
Book Value/Share 17.64 -7.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 15.6% TTM
✓Sustainable FFO payout ratio of 76.2%
✓High NOI margin of 92.7%

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.37%

5Y7.66%

3Y9.38%

TTM8.17%

Profit (Net Income) CAGR

10Y11.74%

5Y7.4%

3Y4.17%

TTM14.03%

EPS CAGR

10Y6.12%

5Y23.79%

3Y-3.01%

TTM9.4%

ROCE

10Y Avg6.78%

5Y Avg6.77%

3Y Avg6.89%

Latest6.44%

Peer Comparison

Convenience & Restaurant Focus

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CURBCurbline Properties Corp.	2.53B	23.98	252.42	29.06%	11.74%	0.88%	1.44%	0.02
GTYGetty Realty Corp.	1.74B	30.15	24.12	9.44%	34.75%	7.35%	7.45%	0.96
FCPTFour Corners Property Trust, Inc.	2.64B	24.91	23.28	6.97%	38.04%	7.1%	5.45%	0.79

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	110.73M	115.27M	120.15M	136.11M	140.66M	147.35M	155.41M	165.59M	185.85M	203.39M
Revenue Growth %	0.11%	0.04%	0.04%	0.13%	0.03%	0.05%	0.05%	0.07%	0.12%	0.09%
Property Operating Expenses	23.65M	22.73M	22.34M	23.65M	24.98M	23.52M	22.05M	21.55M	23.79M	14.86M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	41.18M	35.45M	36.27M	43.48M	48.91M	48.54M	46.9M	26.74M	70.91M	78.76M
G&A Expenses	16.93M	14.15M	13.88M	14.66M	15.38M	17.29M	20.15M	20.62M	23.73M	25.27M
EBITDA+	51.26M	108.94M	111.87M	134.59M	94.83M	107.3M	123.61M	158.47M	142.49M	170.19M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	16.97M	58.74M	58.62M	66.56M	28.06M	31.72M	37.15M	41.17M	51.34M	60.42M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	34.29M	50.2M	53.26M	68.03M	66.76M	75.58M	86.46M	117.29M	91.15M	109.77M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	14.49M	16.56M	17.77M	22.34M	24.63M	26.09M	24.67M	27.66M	31.53M	39.27M
Interest Coverage	2.37x	3.03x	3.00x	3.04x	2.71x	2.90x	3.50x	4.24x	2.89x	2.80x
Non-Operating Income	-20.57M	-2.03M	-8.52M	-2.73M	-7.59M	205K	10.4M	12.51M	-531K	-566K
Pretax Income+	40.37M	42.08M	45.05M	48.41M	49.72M	69.39M	62.86M	90.04M	60.15M	71.06M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	13.8M	4.71M	5.62M	2.47M	0	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	37.41M	38.41M	47.19M	47.71M	49.72M	69.39M	62.86M	90.04M	60.15M	71.06M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.6%	0.03%	0.23%	0.01%	0.04%	0.4%	-0.09%	0.43%	-0.33%	0.18%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	0.6%	0.79%	0.09%	0.08%	-0.32%	0.3%	-0.01%	0.31%	-0.15%	0.18%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	1.11	1.12	1.26	1.19	0.43	1.62	1.37	1.88	1.15	1.25
EPS Growth %	0.61%	0.01%	0.13%	-0.06%	-0.64%	2.77%	-0.15%	0.37%	-0.39%	0.09%
EPS (Basic)	1.11	1.12	1.26	1.19	0.43	1.62	1.37	1.88	1.16	1.26
Diluted Shares Outstanding	33.42M	33.81M	36.9M	40.19M	41.11M	42.07M	44.82M	46.84M	50.22M	54.55M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	899.13M	877.31M	1.07B	1.16B	1.21B	1.35B	1.47B	1.56B	1.82B	1.97B
Asset Growth %	0.31%	-0.02%	0.22%	0.08%	0.05%	0.11%	0.09%	0.06%	0.17%	0.08%
Real Estate & Other Assets+	22.04M	20.74M	14.74M	892.41M	17.33M	18.48M	2.73M	22.54M	1.47B	1.68B
PP&E (Net)	674.52M	660.95M	837.61M	892.41M	969.94M	1.08B	1.22B	1.3B	14.74M	12.47M
Investment Securities	1000K	1000K	1000K	1000K	0	0	0	0	0	0
Total Current Assets+	130.51M	124.26M	145.56M	180.87M	181.2M	194.41M	207.85M	170.14M	179.16M	107.38M
Cash & Equivalents	3.94M	12.52M	19.99M	46.89M	21.78M	55.08M	24.74M	8.71M	3.31M	9.48M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	1.75M	671K	821K	1.85M	32.74M	14.13M	60.99M	40.61M	4.41M	4.38M
Intangible Assets	25.02M	23.51M	38.89M	42.04M	43.31M	52.89M	39.09M	74.01M	100.31M	171.13M
Total Liabilities	492.57M	446.39M	519.06M	578.01M	622.34M	689.91M	721.84M	802.45M	866.75M	1.01B
Total Debt+	319.3M	298.54M	379.16M	441.64M	495.1M	577.41M	608.84M	714.97M	772.74M	918.9M
Net Debt	315.36M	286.02M	359.17M	394.74M	473.32M	522.34M	584.1M	706.26M	769.44M	909.42M
Long-Term Debt	317.09M	298.54M	379.16M	441.64M	469.06M	548.83M	583.85M	618.49M	756.1M	673.51M
Short-Term Borrowings	0	0	0	0	0	0	0	1000K	0	1000K
Capital Lease Obligations	24.53M	22.54M	22.71M	21.51M	26.04M	28.59M	24.98M	21.48M	16.65M	13.94M
Total Current Liabilities+	232.92M	197.13M	230.84M	193.78M	127.24M	112.5M	113M	143.38M	81.64M	303.2M
Accounts Payable	28.69M	31.3M	27.93M	26.05M	42.2M	28.29M	26.11M	24.65M	27.39M	45.21M
Deferred Revenue	0	0	0	0	0	0	0	0	0	0
Other Liabilities	84.34M	-49.28M	-90.94M	-57.41M	0	0	0	19.09M	19.4M	20.94M
Total Equity+	406.56M	738.81M	934.75M	995.57M	589.44M	659.6M	745.11M	759.85M	955.55M	962.08M
Equity Growth %	-0%	0.82%	0.27%	0.07%	-0.41%	0.12%	0.13%	0.02%	0.26%	0.01%
Shareholders Equity	406.56M	430.92M	553.7M	581.16M	589.44M	659.6M	745.11M	759.85M	955.55M	962.08M
Minority Interest	0	307.89M	381.06M	414.41M	0	0	0	0	0	0
Common Stock	334K	344K	397K	409K	414K	436K	467K	467K	540K	550K
Additional Paid-in Capital	464.34M	485.66M	604.87M	638.18M	656.13M	722.61M	818.21M	822.34M	1.05B	1.09B
Retained Earnings	-58.11M	-55.09M	-51.57M	-57.42M	0	0	0	0	-94.1M	-124.99M
Preferred Stock	0	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	0.05%	0.04%	0.05%	0.04%	0.04%	0.05%	0.04%	0.06%	0.04%	0.04%
Return on Equity (ROE)	0.09%	0.07%	0.06%	0.05%	0.06%	0.11%	0.09%	0.12%	0.07%	0.07%
Debt / Assets	0.36%	0.34%	0.35%	0.38%	0.41%	0.43%	0.42%	0.46%	0.42%	0.47%
Debt / Equity	0.79x	0.40x	0.41x	0.44x	0.84x	0.88x	0.82x	0.94x	0.81x	0.96x
Net Debt / EBITDA	6.15x	2.63x	3.21x	2.93x	4.99x	4.87x	4.73x	4.46x	5.40x	5.34x
Book Value per Share	12.17	21.85	25.33	24.77	14.34	15.68	16.62	16.22	19.03	17.64

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	49.69M	36.87M	56.74M	63.35M	76.77M	82.83M	86.82M	93.09M	105.3M	130.5M
Operating CF Growth %	0.7%	-0.26%	0.54%	0.12%	0.21%	0.08%	0.05%	0.07%	0.13%	0.24%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	37.41M	38.41M	47.19M	47.71M	49.72M	69.39M	62.86M	90.04M	60.15M	71.06M
Depreciation & Amortization	15.48M	18.6M	18.57M	22.83M	28.06M	34.09M	40.29M	45.31M	51.34M	60.42M
Stock-Based Compensation	1.09M	1.43M	1.35M	1.78M	2.47M	3.13M	4M	4.78M	5.58M	5.93M
Other Non-Cash Items	1.58M	442K	575K	-832K	-553K	-9K	-60K	-14.08M	-1.76M	-6.72M
Working Capital Changes	-21.71M	-28.16M	-19.42M	-10.82M	-6.07M	-25.08M	-7.83M	-32.96M	-10.01M	-197K
Cash from Investing+	-204.72M	12.72M	-206.22M	-75.93M	-82.55M	-127.42M	-169.73M	-139.06M	-310.7M	-200.47M
Acquisitions (Net)	0	0	0	0	82.89M	127.17M	169.69M	0	0	0
Purchase of Investments	-220.07M	-10.3M	-215.25M	-81.85M	-88.84M	-155.56M	-205.05M	-164.91M	0	0
Sale of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Other Investing	14.8M	13.02M	-205.78M	-72.14M	-82.54M	-127.14M	-169.46M	-823K	-310.4M	-199.59M
Cash from Financing+	155.87M	-41.01M	157.09M	40.51M	-19.3M	77.98M	52.32M	30.76M	199.44M	78.3M
Dividends Paid	-35.15M	-36.23M	-39.3M	-50.5M	-56.89M	-62.63M	-70.77M	-78.26M	-86.96M	-100.21M
Common Dividends	-35.15M	-36.23M	-39.3M	-50.5M	-56.89M	-62.63M	-70.77M	-78.26M	-86.96M	-100.21M
Debt Issuance (Net)	1000K	-1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Share Repurchases	-65K	-290K	-1.2M	0	-115K	-257K	-730K	0	-1M	-399K
Other Financing	-2.62M	-30K	-1.1M	-3.65M	13.25M	61.51M	89.47M	5K	-4.48M	711K
Net Change in Cash+	831K	8.58M	7.62M	27.93M	-25.08M	33.39M	-30.59M	-15.21M	-5.96M	8.33M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	3.11M	3.94M	13.19M	20.81M	48.74M	23.66M	57.05M	26.46M	11.25M	5.29M
Cash at End	3.94M	12.52M	20.81M	48.74M	23.66M	57.05M	26.46M	11.25M	5.29M	13.62M
Free Cash Flow+	-169.84M	36.58M	56.31M	59.55M	76.76M	82.55M	86.55M	93.09M	104.99M	129.63M
FCF Growth %	-15.15%	1.22%	0.54%	0.06%	0.29%	0.08%	0.05%	0.08%	0.13%	0.23%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	1.63	2.87	2.87	2.84	1.89	2.4	2.23	2.8	2.22	2.41
FFO Payout Ratio	64.63%	37.3%	37.14%	44.2%	73.13%	61.94%	70.76%	59.64%	78%	76.21%
NOI Margin	78.64%	80.28%	81.4%	82.62%	82.24%	84.04%	85.81%	86.98%	87.2%	92.69%
Net Debt / EBITDA	6.15x	2.63x	3.21x	2.93x	4.99x	4.87x	4.73x	4.46x	5.40x	5.34x
Debt / Assets	35.51%	34.03%	35.34%	38.1%	40.86%	42.79%	41.5%	45.76%	42.4%	46.56%
Interest Coverage	2.37x	3.03x	3.00x	3.04x	2.71x	2.90x	3.50x	4.24x	2.89x	2.80x
Book Value / Share	12.17	21.85	25.33	24.77	14.34	15.68	16.62	16.22	19.03	17.64
Revenue Growth	10.88%	4.09%	4.24%	13.28%	3.34%	4.76%	5.47%	6.55%	12.23%	9.44%

Frequently Asked Questions

Valuation & Price

Getty Realty Corp. (GTY) has a price-to-earnings (P/E) ratio of 24.1x. This is roughly in line with market averages.

Growth & Financials

Getty Realty Corp. (GTY) reported $214.2M in revenue for fiscal year 2024. This represents a 90% increase from $112.9M in 2011.

Getty Realty Corp. (GTY) grew revenue by 9.4% over the past year. This is steady growth.

Yes, Getty Realty Corp. (GTY) is profitable, generating $74.4M in net income for fiscal year 2024 (34.9% net margin).

Dividend & Returns

Yes, Getty Realty Corp. (GTY) pays a dividend with a yield of 6.09%. This makes it attractive for income-focused investors.

Getty Realty Corp. (GTY) has a return on equity (ROE) of 7.4%. This is below average, suggesting room for improvement.

Industry Metrics

Getty Realty Corp. (GTY) generated Funds From Operations (FFO) of $137.9M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Getty Realty Corp. (GTY) offers a 6.09% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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