Granite Real Estate Investment Trust (GRP-UN) Earnings History
Turnaround24 years of earnings data (2001–2024) · Recovering earnings after a multi-year decline
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Granite Real Estate Investment Trust (GRP-UN) Earnings Overview
As of June 29, 2026, Granite Real Estate Investment Trust (GRP-UN) reported trailing twelve-month net income of $291M, reflecting +166.8% year-over-year growth. The company earned $4.74 per diluted share over the past four quarters, with a net profit margin of 63.4%.
Looking at the long-term picture, GRP-UN's 5-year EPS compound annual growth rate (CAGR) stands at -6.0%, signaling declining earnings. The company achieved its highest annual net income of $1.31B in fiscal 2021.
Granite Real Estate Investment Trust maintains industry-leading profitability with a gross margin of 82.9%, operating margin of 76.5%, and net margin of 63.4%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including PLD ($3.72B net income, 38.8% margin), STAG ($244M net income, 32.4% margin), EGP ($293M net income, 35.7% margin), GRP-UN has outperformed on profitability metrics. Compare GRP-UN vs PLD →
GRP-UN Earnings vs Peers
Earnings metrics vs comparable public companies
GRP-UN Historical Earnings Data (2001–2024)
24 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $361M | +163.9% | $435M | $5.71 | 63.4% | 76.5% |
| 2023 | $137M | -12.3% | $393M | $2.14 | 26.2% | 75.3% |
| 2022 | $156M | -88.1% | $349M | $2.39 | 34.2% | 76.7% |
| 2021 | $1.31B | +204.8% | $293M | $20.47 | 332.9% | 74.5% |
| 2020 | $430M | +12.5% | $0 | $7.58 | 126.3% | 0.0% |
| 2019 | $382M | -17.9% | $206M | $7.80 | 140.0% | 75.7% |
| 2018 | $465M | +30.0% | $217M | $10.18 | 188.0% | 87.5% |
| 2017 | $358M | +28.1% | $181M | $7.63 | 160.7% | 81.2% |
| 2016 | $279M | +44.5% | $187M | $5.93 | 125.0% | 83.7% |
| 2015 | $193M | +175.4% | $161M | $4.11 | 89.4% | 74.6% |
| 2014 | $70M | -51.6% | $148M | $1.49 | 33.9% | 71.3% |
| 2013 | $145M | +103.3% | $149M | $3.09 | 71.4% | 73.5% |
| 2012 | $71M | -55.2% | $86M | $3.20 | 39.4% | 47.4% |
| 2011 | $159M | +405.8% | $56M | $3.24 | 85.2% | 29.7% |
| 2010 | -$52M | -17.5% | -$40M | $-1.11 | -14.5% | -11.2% |
| 2009 | -$44M | -1031.4% | $6M | $-0.95 | -11.5% | 1.7% |
| 2008 | -$4M | -110.0% | -$154M | $-0.08 | -0.4% | -16.4% |
| 2007 | $39M | -43.9% | $-636,201 | $0.81 | 5.0% | -0.1% |
| 2006 | $70M | +816.0% | -$112M | $1.45 | 6.9% | -11.1% |
| 2005 | $8M | +174.6% | -$32M | $0.16 | 0.8% | -3.5% |
| 2004 | -$10M | +75.6% | -$52M | $-0.21 | -1.0% | -5.0% |
| 2003 | -$42M | -352.5% | $75M | $-0.87 | -4.0% | 7.1% |
| 2002 | $17M | -68.6% | $16M | $0.36 | 1.7% | 1.6% |
| 2001 | $53M | - | $52M | $1.15 | 6.0% | 5.9% |
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GRP-UN — Frequently Asked Questions
Quick answers to the most common questions about buying GRP-UN stock.
What is GRP-UN earnings per share (EPS)?
GRP-UN trailing twelve-month (TTM) diluted EPS is $4.74, reflecting +166.8% year-over-year growth. The 5-year EPS CAGR is -6.0%. Complete EPS history from 2001 to 2024 is available in the table on this page.
What is Granite Real Estate Investment Trust's net income?
Granite Real Estate Investment Trust (GRP-UN) trailing twelve-month net income is $291M as of 2024. Earnings grew +166.8% year-over-year. Granite Real Estate Investment Trust has been profitable for 14 consecutive years.
Is GRP-UN profitable?
Yes, GRP-UN is profitable with a TTM net income of $291M and a net profit margin of +63.4%. Granite Real Estate Investment Trust has generated profits for 14 consecutive years.
What is GRP-UN's earnings growth rate?
GRP-UN compound annual EPS growth rates (CAGR): 1-Year: +166.8%, 3-Year: -34.7%, 5-Year: -6.0%, 10-Year: +14.4%. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2001 to 2024.
What are GRP-UN's profit margins?
Granite Real Estate Investment Trust net profit margin is +63.4%, operating margin is +76.5%, and gross margin is +82.9%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +6.5%.
Is GRP-UN growing earnings?
Yes, GRP-UN earnings are accelerating — EPS growth of +166.8% exceeds the 5-year CAGR of -6.0%. TTM net income reached $291M. Earnings momentum is strengthening.
What was GRP-UN's best earnings year?
Granite Real Estate Investment Trust's highest annual net income on record is $1.3B, achieved in fiscal year 2021. Earnings history on this page spans 2001 to 2024 and includes all annual and quarterly figures.
What were GRP-UN's earnings last quarter?
GRP-UN's most recent reported quarter was Q3 2025. Net income was $68M with diluted EPS of $1.11. For a full breakdown of all quarters, see the quarterly earnings table on this page.