City Office REIT, Inc. (CIO) Revenue History
Annual and quarterly revenue from 2011 to present
CIO Revenue Over Time (2011–2024)
CIO Revenue Growth History
11 of 13 years with positive growth- FY2011 revenue growth
- N/A
- FY2012 revenue growth
- +25.5%
- FY2013 revenue growth
- +77.9%
- FY2014 revenue growth
- +80.1%
- FY2015 revenue growth
- +49.2%
- FY2016 revenue growth
- +31.6%
- FY2017 revenue growth
- +47.0%
- FY2018 revenue growth
- +21.6%
- FY2019 revenue growth
- +20.7%
- FY2020 revenue growth
- +2.9%
- FY2021 revenue growth
- +2.0%
- FY2022 revenue growth
- +10.0%
- FY2023 revenue growth
- -0.8%
- FY2024 revenue growth
- -4.5%
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2025 | $37.3M | -12.0% |
| Q2 2025 | $42.3M | +0.0% |
| Q1 2025 | $42.3M | -5.0% |
| Q4 2024 | $41.9M | -5.4% |
| Q3 2024 | $42.4M | -4.2% |
| Q2 2024 | $42.3M | -5.1% |
| Q1 2024 | $44.5M | -3.2% |
| Q4 2023 | $44.3M | -0.7% |
Multi-year avg. share of annual revenue by fiscal quarter
CIO Revenue Analysis (2011–2024)
Current Revenue & Growth
As of June 22, 2026, City Office REIT, Inc. (CIO) generated trailing twelve-month (TTM) revenue of $163.8 million, reflecting significant decline in growth of -12.0% year-over-year. The most recent quarter (Q3 2025) recorded $37.3 million in revenue, down 12.0% sequentially.
Historical Growth Trajectory
CIO's 5-year compound annual growth rate (CAGR) stands at +1.8%, indicating moderate growth over time. The 3-year CAGR of +1.4% is in line with the 5-year average, suggesting consistent growth. City Office REIT, Inc.'s highest annual revenue of $180.5 million was recorded in 2022.
Peer Comparison
Compared to Real Estate sector peers — including PDM (-25.7% YoY), DEA (+11.9% YoY), and PGRE (-5.3% YoY) — CIO has underperformed the peer group in revenue growth. Compare CIO vs PDM →
CIO Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CIOCurrent | $164M | -12.0% | +1.8% | 10.9% | |
 PDM | $565M | -25.7% | +1.1% | 14.1% | |
 DEA | $336M | +11.9% | +6.5% | 24.9% | |
 PGRE | $757M | -5.3% | -0.3% | 19.6% | |
 HIW | $806M | +0.4% | +1.8% | 26.0% | |
 JBGS | $499M | -3.3% | -3.7% | -1.3% |
CIO Historical Revenue Data (2011–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $171.1M | -4.5% | $101.7M | 59.4% | $18.7M | 10.9% |
| 2023 | $179.1M | -0.8% | $109.1M | 60.9% | $31.3M | 17.5% |
| 2022 | $180.5M | +10.0% | $112.7M | 62.5% | $35.3M | 19.5% |
| 2021 | $164.0M | +2.0% | $106.0M | 64.6% | $33.2M | 20.3% |
| 2020 | $160.8M | +2.9% | $102.5M | 63.7% | $31.5M | 19.6% |
| 2019 | $156.3M | +20.7% | $99.0M | 63.3% | $28.8M | 18.4% |
| 2018 | $129.5M | +21.6% | $79.6M | 61.5% | $15.6M | 12.1% |
| 2017 | $106.5M | +47.0% | $63.6M | 59.7% | $15.2M | 14.3% |
| 2016 | $72.5M | +31.6% | $44.2M | 60.9% | $-297,000 | -0.4% |
| 2015 | $55.1M | +49.2% | $34.6M | 62.9% | $4.5M | 8.2% |
| 2014 | $36.9M | +80.1% | $22.6M | 61.2% | $2.6M | 7.1% |
| 2013 | $20.5M | +77.9% | $14.5M | 70.6% | $2.8M | 13.5% |
| 2012 | $11.5M | +25.5% | $7.4M | 64.3% | $1.3M | 11.3% |
| 2011 | $9.2M | - | $6.1M | 66.4% | $1.6M | 17.2% |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
15+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
CIO — Frequently Asked Questions
Quick answers to the most common questions about buying CIO stock.
Is CIO's revenue growth accelerating or slowing?
CIO revenue is declining -12.0% year-over-year. TTM revenue fell to $164M, contrasting with the 5-year CAGR of +1.8%. The reversal reflects either macro headwinds or company-specific challenges.
What is CIO's revenue history from 2011 to 2026?
City Office REIT, Inc. (CIO) revenue history spans 2011 to 2026. TTM revenue as of 2026 is $164M, growing at -12.0% YoY. The 5-year CAGR is +1.8%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is CIO's long-term revenue growth rate (CAGR)?
City Office REIT, Inc.'s 5-year revenue CAGR of +1.8% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -12.0% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for CIO.
Why does CIO's quarterly revenue fluctuate?
CIO quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. City Office REIT, Inc.'s revenue data from 2011 to 2026 shows full historical quarterly detail on this page.
How is CIO's revenue distributed by segment?
CIO reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does CIO's revenue compare to industry peers?
City Office REIT, Inc. (CIO) with TTM revenue of $164M and -12.0% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.