The company's capital structure has deteriorated into a negative equity position of -$5.6M as of 2026Q1, accompanied by an elevated debt-to-equity ratio of 2.79.
Generation Income Properties, Inc. (GIPR) balance sheet — 11-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 |
|---|
| Total Assets | 86.95M | 97.26M | 106.56M | 108.69M | 64.21M | 53.42M | 40.68M | 40.16M | 15.23M | 3.36M | 692.58K | 448 |
| Asset Growth % | -54.43% | -8.73% | -1.96% | 69.27% | 20.2% | 31.32% | 1.31% | 163.71% | 353.24% | 385.09% | - | - |
| Real Estate & Other Assets | -66.9M | 78.94M | 81.19M | 89.77M | 49.44M | 39.15M | 36.88M | 35.95M | 13.55M | 222.05K | -692.58K | 0 |
| PP&E (Net) | 5.95M | 5.99M | 6.07M | 6.15M | 6.23M | 0 | 0 | 0 | 13.53M | 2.54M | 0 | 0 |
| Investment Securities | 1000K | 0 | 0 | 0 | 1000K | 725.08K | 0 | 0 | -1000K | -1000K | 0 | 0 |
| Total Current Assets | 2.32M | 7.12M | 8.8M | 4.03M | 4.17M | 11.24M | 1.41M | 1.56M | 763.49K | 482.88K | 692.58K | 448 |
| Cash & Equivalents | 2.03M | 6.16M | 612.94K | 3.12M | 3.72M | 10.59M | 937.56K | 974.37K | 642.13K | 482.88K | 692.58K | 448 |
| Receivables | 654.62K | 0 | 48.12K | 241.17K | 96.06K | 88.66K | 75.79K | 73.85K | 18.01K | 0 | 0 | 0 |
| Other Current Assets | -365.37K | 767.83K | 8M | 527.89K | 218.74K | 323.28K | 260.63K | 434.61K | 103.35K | 0 | 0 | 0 |
| Intangible Assets | 7.54M | 5.22M | 6.68M | 7.99M | 3.16M | 2.31M | 2.39M | 2.65M | 913.15K | 114.1K | 0 | 0 |
| Total Liabilities | 64.73M | 68.88M | 73.71M | 74.17M | 47.28M | 30.15M | 30.63M | 29.52M | 10.2M | 17.11K | 11.77K | 124.98K |
| Total Debt | 59.47M | 62.93M | 70.31M | 56.83M | 43.09M | 28.97M | 29.87M | 29.35M | 9.71M | 87.1K | 84.29K | 74.29K |
| Net Debt | 57.44M | 56.77M | 69.69M | 53.71M | 39.37M | 18.38M | 28.93M | 28.37M | 9.07M | -395.78K | -608.29K | 73.84K |
| Long-Term Debt | 44.99M | 56.42M | 62.55M | 50.41M | 36.73M | 28.97M | 29.46M | 28.3M | 9.71M | 0 | 0 | 0 |
| Short-Term Borrowings | 8.07M | 0 | 1.53M | 0 | 0 | 0 | 0 | 0 | 0 | 87.1K | 84.29K | 74.29K |
| Capital Lease Obligations | 25.78M | 6.52M | 6.22M | 6.42M | 6.36M | 0 | 415.65K | 1.05M | 102.41K | 0 | 0 | 0 |
| Total Current Liabilities | 8.07M | 4.12M | 7.67M | 3.88M | 3.55M | 598.84K | 754.05K | 701.28K | 378.57K | 140.87K | 84.73K | 124.98K |
| Accounts Payable | 1.45M | 1.6M | 171.26K | 406.77K | 173.46K | 201.73K | 118.46K | 82.94K | 30.34K | 3.77K | 440 | 50.69K |
| Deferred Revenue | 150.24K | 306.92K | 176.02K | 260.94K | 251.8K | 228.94K | 188.59K | 89.6K | 10.2M | -207.39K | -84.73K | 0 |
| Other Liabilities | 5.1M | 1.83M | 2.5M | 9.75M | 639.97K | 577.39K | 0 | 0 | -102.41K | -257.39K | -84.73K | 0 |
| Total Equity | 22.22M | 28.38M | 32.85M | 34.52M | 16.93M | 23.28M | 10.05M | 10.63M | 5.03M | 2.99M | 0 | -124.53K |
| Equity Growth % | -91.09% | -13.61% | -4.83% | 103.95% | -27.28% | 131.49% | -5.43% | 111.31% | 68.09% | - | 100% | - |
| Shareholders Equity | -2.3M | -4.2M | 5.8M | 15.3M | 10.69M | 13.67M | 1.37M | 2.43M | 2.87M | 3.36M | 692.58K | -124.53K |
| Minority Interest | 24.52M | 32.58M | 27.06M | 19.22M | 6.23M | 9.6M | 8.68M | 8.2M | 2.17M | -366.35K | -692.58K | 0 |
| Common Stock | 10.3K | 54.43K | 54.43K | 26.21K | 25.02K | 21.73K | 5.77K | 21.01K | 18.4K | 17.11K | 11.77K | 10K |
| Additional Paid-in Capital | 34.52M | 29.36M | 29.02M | 18.47M | 19.31M | 19.05M | 5.54M | 4.76M | 3.68M | 3.47M | 881.73K | 0 |
| Retained Earnings | -36.83M | -33.62M | -23.28M | -14.83M | -8.64M | -5.4M | -4.18M | -2.35M | -837.62K | 3.1M | 607.85K | -134.53K |
| Preferred Stock | 0 | 0 | 0 | 11.64M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | -6.81% | -10.15% | -7.76% | -6.61% | -5.5% | -2.61% | -4.53% | -5.45% | -4.9% | -4.75% | -43.61% | -30028.79% |
| Return on Equity (ROE) | -25.27% | -33.77% | -24.79% | -22.23% | -16.11% | -7.36% | -17.71% | -19.25% | -11.36% | -5.22% | -53.21% | - |
| Debt / Assets | 68.4% | 64.7% | 65.97% | 52.28% | 67.11% | 54.23% | 73.43% | 73.09% | 63.8% | 2.59% | 12.17% | 16583.04% |
| Debt / Equity | 2.68x | 2.22x | 2.14x | 1.65x | 2.55x | 1.24x | 2.97x | 2.76x | 1.93x | 0.03x | 0.12x | - |
| Net Debt / EBITDA | 22.99x | 14.37x | - | 676.04x | - | - | - | 27.14x | - | -4.33x | - | 0.55x |
| Book Value per Share | 15.74 | 54.94 | 63.62 | 136.97 | 73.18 | 295.57 | 190.11 | 215.83 | 95.79 | 75.40 | 25.17 | -4.98 |
Quick answers to the most common questions about buying GIPR stock.
As of 2025, Generation Income Properties, Inc. (GIPR) had total assets of $97.3M including $7.1M in current assets.
Generation Income Properties, Inc. (GIPR) carries total debt of $62.9M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Generation Income Properties, Inc. (GIPR) has total shareholders' equity (book value) of $-4.2M ($54.94 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Generation Income Properties, Inc. (GIPR) reported a current ratio of 1.73x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Negative Equity and Liquidity
Metrics are mathematically derived from official filings.
Capital Base Erosion and Contraction
As reported in recent financial filings, GIPR's equity position has deteriorated into negative territory, reaching -$5.6M in 2026Q1, which suggests that the company's historical acquisition strategy has failed to generate sufficient value to offset the persistent accumulation of corporate-level losses and asset impairments.
The transition from positive equity in 2024 to a deficit indicates that the company is effectively operating with a balance sheet that lacks a tangible net asset buffer. This trajectory implies that future growth initiatives may be severely constrained by the inability to leverage existing equity, forcing a reliance on dilutive capital raises.
Elevated Leverage Amid Asset Contraction
Based on the company's reported figures, the debt-to-equity ratio has climbed to 2.79 in 2026Q1, reflecting a precarious capital structure where debt obligations remain high even as the underlying asset base and equity value have significantly diminished over the observed ten-quarter period.
The rising leverage ratio, despite a relatively stable debt load, highlights the impact of eroding equity on the company's financial health. Investors should monitor whether this level of indebtedness limits the company's ability to refinance upcoming maturities without incurring punitive interest costs or further diluting shareholders.
Liquidity Constraints and Cash Burn
According to quarterly balance sheet data, GIPR's cash reserves have plummeted to approximately $289.5K as of 2026Q1, a sharp decline from the $6.2M reported in 2025Q4, which indicates a rapid depletion of liquid assets necessary to fund ongoing corporate operations and debt service requirements.
The current cash position appears insufficient to support the company's high fixed-cost structure, suggesting that liquidity may be exhausted in the near term. This lack of a cash cushion may force management to prioritize asset sales or emergency financing, both of which could be value-destructive in the current market environment.
Structural Risks of Negative Equity
Financial statements reveal that GIPR's negative equity position, which reached -$5.6M in 2026Q1, may indicate that the company's assets are currently valued at less than the debt used to acquire them, posing a significant risk to the long-term solvency of the REIT platform.
This condition suggests that the company is essentially insolvent on a book-value basis, which may trigger restrictive covenants or limit access to institutional credit markets. The persistence of this negative equity state warrants further investigation into whether the current portfolio valuation accurately reflects the market reality of the underlying properties.