Free cash flow remains highly erratic, swinging from a 26.8% margin in 2024Q4 to a -13.8% margin in 2024Q2, while capital expenditures reached 11.4% of revenue in 2026Q3.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 | Jun'98 | Jun'97 | Jun'96 |
|---|
| Cash from Operations | 6.84M | 5.89M | 6.81M | -107K | 921K | -19.82M | -3.45M | 14.27M | 11.45M | 6.29M | 8.97M | -162K | 3.28M | 4.58M | 5.22M | 2.96M | 5.68M | 7.03M | 465K | 3.26M | 319K | 3.93M | 1.12M | -6.4M | -5.11M | 1.84M | 489K | -143K | 448K | 3.44M | 3.3M |
| Operating CF Margin % | - | 9.15% | 11.72% | -0.19% | 1.95% | -69.18% | -5.95% | 19.09% | 15.99% | 9.12% | 12.31% | -0.22% | 4.88% | 7.38% | 9.16% | 5.9% | 12.68% | 15.42% | 0.95% | 7.24% | 2.66% | 30.29% | 8.13% | -45.23% | -39.93% | 14% | 4.14% | -1.12% | 3.77% | 29.75% | 29.63% |
| Operating CF Growth % | 421.09% | -13.5% | 6467.29% | -111.62% | 104.65% | -473.97% | -124.21% | 24.64% | 81.89% | -29.85% | 5638.27% | -104.93% | -28.27% | -12.35% | 76.16% | -47.84% | -19.17% | 1412.26% | -85.73% | 921.63% | -91.88% | 250.94% | 117.49% | -25.2% | -377.62% | 276.48% | 441.96% | -131.92% | -86.97% | 4.24% | 33.28% |
| Net Income | -210K | -5.35M | -12.56M | -9.93M | -10.62M | 10.54M | -5.09M | 2.81M | 5.81M | -1.68M | -9.27M | 2.06M | -6.75M | 625K | -671K | 10.44M | -4.58M | 389K | -301K | -3.59M | -1.92M | -3.13M | 3.07M | 2.57M | -14.48M | -2.51M | 5.42M | -4.62M | 154K | 1.24M | 547K |
| Depreciation & Amortization | 7.92M | 6.62M | 6.32M | 5.46M | 4.75M | 4.64M | 4.71M | 4.78M | 4.78M | 5.39M | 5.15M | 4.94M | 4.72M | 4.58M | 4.47M | 6.31M | 6.91M | 6.78M | 6.71M | 6.85M | 2.36M | 3.46M | 2.83M | 2.72M | 2.49M | 2.42M | 1.99M | 2.23M | 1.94M | 1.65M | 1.59M |
| Stock-Based Compensation | -49K | 105K | 1.31M | 0 | 4K | 14K | 142K | 76K | 184K | 268K | 479K | 752K | 564K | 412K | 329K | 350K | 115K | 72K | 72K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 1.61M | 624K | -203K | 8.54M | -1.47M | 2.24M | -2.92M | -1.71M | 4.35M | -122K | 7.03M | 0 | 5.05M | 1.32M | 0 | 0 | 0 | -2.96M | 619K | -1.4M | -2.41M | -1.52M | 1.86M | 3.94M | -4.46M | -3.96M | 6.46M | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | -2.92M | 3.7M | 2.24M | -5.75M | 3.31M | -30.15M | 1.49M | 1.42M | -3.36M | 4.56M | 5.58M | -7.09M | -249K | -404K | 1.46M | -16.83M | 6.19M | -627K | -1.95M | -301K | 6.55M | -29.69M | 1.29M | 24.14M | -779K | 2.1M | -3.59M | 3.31M | -2.23M | -28.97K | -604.67K |
| Working Capital Changes | 3.36M | 188K | 9.7M | 1.57M | 4.94M | -7.12M | -1.8M | 6.89M | -321K | -2.13M | 10K | -828K | -56K | -1.96M | -365K | 2.69M | -2.95M | 3.38M | -4.68M | 1.7M | -665K | 171K | -437K | -1.61M | -702K | -2.01M | 9.42M | -1.05M | 587K | 576.66K | 1.76M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.37M | 639K | 60K | -2.07M | -3.19M | 25.58M | 37.28M | 2.37M | -2M | 100K | -200K | 100K |
| Change in Inventory | -47K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12.22M | 902K | 306K | -1.23M | -5.1M | 4.19M | 2.29M | 30.61M | -1.5M | 0 | -759.83K | 0 |
| Change in Payables | 3.09M | -830K | 3.83M | 3.97M | 122K | -1.09M | -3.44M | 1.82M | -2.54M | -2.72M | -383K | -361K | 6.77M | 723K | 0 | 0 | 0 | 0 | 0 | -6.27M | 4.7M | -16.68M | 2.17M | 19.92M | -21.82M | -35.33M | 26.34M | 400K | 800K | -600K | 800K |
| Cash from Investing | 596K | -3.92M | -6.41M | -6.05M | -3.89M | 8.19M | -2.45M | -2.4M | -792K | -1.68M | -6.98M | 11.62M | -4.59M | -6.06M | 826K | -2.48M | -3.24M | -2.73M | 5.78M | -4.99M | 4.6M | 5.19M | -30.08M | -1.62M | 9.53M | -17.46M | -1.64M | -19.84M | 4.06M | -7.24M | -1.51M |
| Capital Expenditures | -2.04M | 0 | -4.08M | -8.18M | -4.69M | -3.98M | -1.29M | -1.4M | -212K | -328K | -4.06M | -5.08M | -3.7M | -3.49M | -3.11M | -7M | 0 | 0 | 0 | -3.27M | -2.92M | -4.39M | -30M | -1.73M | -7.59M | -21.85M | -22.45M | -3.5M | -4.02M | -6.03M | -1.86M |
| CapEx % of Revenue | 2.85% | 3.5% | 7.02% | 14.2% | 9.92% | 13.91% | 2.23% | 1.87% | 0.3% | 0.48% | 5.57% | 6.99% | 5.49% | 5.62% | 5.46% | 13.95% | - | - | - | 7.28% | 24.28% | 33.83% | 218.06% | 12.23% | 59.34% | 166.15% | 190.01% | 27.44% | 33.87% | 52.14% | 16.68% |
| Acquisitions | 0 | 0 | -22K | -198K | 798K | -2.14M | -223K | -273K | -4K | -119K | -233K | -133K | -78K | -231K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15.66M | 0 | 0 | 0 | 0 | 0 | 7.23M | 0 | 1.6M | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 2.64M | -3.92M | -2.31M | 2.33M | -1.96M | 14.2M | -2.34M | -2.23M | -732K | -875K | -2.68M | 16.99M | -337K | -2.34M | 4.28M | 4.78M | -43K | 38K | 2.09M | -1.4M | 8.5M | 30.27M | 10.24M | 38.39M | 3.26M | 4.39M | 20.81M | 1.74M | 7.07M | -720.17K | 45.49K |
| Cash from Financing | -3.5M | 4.53M | -4.58M | -4.32M | 10.92M | -1.26M | 9.06M | -4.25M | -5.47M | -7.14M | -5.12M | -7.64M | 4.56M | 833K | -5.31M | -265K | -2.33M | -5.18M | -6.5M | 952K | -5.21M | -9.03M | 27.88M | 7.99M | -3.41M | 15.84M | 1.3M | 15.18M | -1M | 4.68M | -916.95K |
| Debt Issued (Net) | -3.43M | 4.92M | -2.51M | -2.85M | 12.98M | 1.4M | 10.47M | -3.01M | -2.78M | -2.42M | -4.51M | -8.73M | 70.21M | 1.47M | -3.35M | 432K | -2.36M | -3.26M | -6.39M | 1.65M | -4.11M | -7.99M | 28.45M | 10.19M | -2.6M | 12.88M | 2.78M | -100K | -1.2M | 3.17M | -315.22K |
| Equity Issued (Net) | 248K | -394K | -599K | -1.47M | -1.95M | -2.38M | -648K | -1.08M | -642K | -544K | -204K | -60K | -5K | -56K | -1.46M | -735K | 0 | -317K | -99K | -194K | -975K | -1.04M | -409K | -2.08M | -685K | -912K | -1.36M | -1.3M | -300K | -155.32K | 467.29K |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -171K | -114K | -126K | -127K | -127K | -534K | -129K | 0 | 0 |
| Share Repurchases | -73K | -394K | -599K | -1.47M | -1.95M | -2.38M | -648K | -1.08M | -642K | -544K | -204K | -60K | -5K | -56K | -1.46M | -735K | 0 | -413K | -99K | -238K | -975K | -1.04M | -409K | -2.08M | -685K | -912K | -1.36M | -1.3M | -300K | -155.32K | -440.21K |
| Other Financing | -321K | 0 | -1.48M | 0 | -107K | -284K | -771K | -162K | 0 | -4.18M | -403K | 1.16M | -65.65M | -1.05M | -500K | 38K | 36K | -1.6M | 122K | -500K | -121K | 0 | 0 | 0 | 0 | 4M | 0 | 17.08M | 600K | 1.67M | -1.07M |
| Net Change in Cash | 3.93M | 6.5M | -4.18M | -10.47M | 7.96M | -12.89M | 3.15M | 7.62M | 5.18M | -2.53M | -3.13M | 3.82M | 3.25M | -647K | 736K | 224K | 116K | -882K | -252K | -777K | -285K | 91K | -1.08M | -24K | 1M | 218K | 146K | -4.8M | 3.5M | 876.87K | 870.64K |
| Free Cash Flow | 2.19M | 3.64M | 425K | -8.29M | -3.77M | -23.81M | -4.75M | 12.87M | 11.24M | 5.97M | 4.91M | -5.25M | -412K | 1.09M | 2.11M | -4.04M | 5.68M | 7.03M | 465K | -16K | -2.6M | -460K | -28.88M | -8.13M | -12.71M | -20.01M | -21.96M | -3.65M | -3.57M | -2.59M | 1.44M |
| FCF Margin % | 3.05% | 5.66% | 0.73% | -14.39% | -7.97% | -83.08% | -8.18% | 17.22% | 15.7% | 8.65% | 6.73% | -7.21% | -0.61% | 1.76% | 3.71% | -8.05% | 12.68% | 15.42% | 0.95% | -0.04% | -21.62% | -3.55% | -209.92% | -57.46% | -99.27% | -152.15% | -185.88% | -28.56% | -30.09% | -22.39% | 12.95% |
| FCF Growth % | -50.41% | 756.71% | 105.13% | -120.11% | 84.19% | -401.69% | -136.87% | 14.56% | 88.33% | 21.56% | 193.57% | -1173.06% | -137.73% | -48.3% | 152.28% | -171.08% | -19.17% | 1412.26% | 3006.25% | 99.38% | -464.78% | 98.41% | -255.22% | 36.01% | 36.5% | 8.91% | -502.44% | -2.01% | -38.11% | -279.45% | 147.7% |
| FCF per Share | 1.02 | 1.68 | 0.19 | -3.74 | -1.69 | -9.30 | -2.06 | 4.84 | 4.20 | 2.52 | 2.06 | -2.16 | -0.17 | 0.45 | 0.88 | -1.61 | 2.38 | 2.98 | 0.20 | -0.01 | -0.94 | -0.16 | -10.09 | -2.71 | -4.56 | -6.94 | -6.90 | -1.19 | -1.13 | -0.80 | 0.46 |
| FCF Conversion (FCF/Net Income) | -10.42x | -1.10x | -0.70x | 0.02x | -0.11x | -1.90x | 0.91x | 5.07x | 1.97x | -3.81x | -1.26x | -0.06x | -0.70x | -6.40x | -2.24x | 0.34x | -2.23x | 18.08x | -1.54x | -0.91x | -0.17x | -1.26x | 0.36x | -2.49x | 1.22x | -0.73x | 0.03x | 0.08x | 2.91x | 1.84x | 6.03x |
| Interest Paid | 8.5M | 12.37M | 6.08M | 7.71M | 7.66M | 8.68M | 9.44M | 0 | 10.4M | 10.26M | 10.32M | 10.75M | 8.93M | 6.8M | 6.83M | 7.04M | 7.12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 142K | 130K | 74K | 1.98M | 3.08M | 41K | 0 | 171K | 1.06M | 2.08M | 1.19M | 180K | 327K | 159K | 116K | 103K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
San Francisco market concentration
According to the provided financial data, INTG exhibits a persistent divergence between net income and operating cash flow, with OCF/NI ratios frequently reaching extreme levels, such as the -8.44 figure in 2025Q1, suggesting that reported earnings are heavily influenced by non-cash items and investment segment volatility.
The lack of correlation between net income and cash generation implies that the company's bottom line is an unreliable indicator of operational health. Investors should monitor whether the volatility in the investment transactions segment continues to obscure the underlying cash-generating capability of the hotel and residential assets.
As reported in recent quarterly filings, INTG's free cash flow margins have swung violently from a high of 26.8% in 2024Q4 to a low of -13.8% in 2024Q2, highlighting the extreme sensitivity of the company's cash trajectory to seasonal demand and unpredictable investment portfolio performance.
This erratic FCF profile suggests that the company lacks a stable cash-flow base, making it difficult to project long-term capital sustainability. The frequent shifts between positive and negative FCF indicate that the business is highly susceptible to localized economic shocks in the San Francisco hospitality market.
Based on the company's reported figures, capital expenditures have fluctuated significantly, peaking at 11.4% of revenue in 2026Q3, which suggests that INTG is forced to commit substantial capital to maintain its aging flagship hotel asset and residential properties to remain competitive in the San Francisco market.
The high variability in CapEx/Revenue ratios may indicate that maintenance requirements are not linear but rather lumpy, potentially creating periodic liquidity crunches. This capital intensity appears to be a structural drag on free cash flow, limiting the company's ability to pivot toward growth-oriented investments.
Analysis of the cash flow statements reveals that working capital changes, such as the $4.1M inflow in 2025Q4, are the primary drivers of quarterly cash fluctuations, often masking the underlying operational performance of the hotel and real estate segments during periods of significant revenue growth.
These large swings suggest that the company's cash position is highly dependent on the timing of receivables and payables rather than consistent operational efficiency. Investors should investigate whether these working capital movements are indicative of aggressive revenue recognition or simply the inherent cyclicality of the hospitality business.
Quick answers to the most common questions about buying INTG stock.
The InterGroup Corporation (INTG) generated $5.9M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
The InterGroup Corporation (INTG) generated $3.6M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
The InterGroup Corporation (INTG) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, The InterGroup Corporation (INTG) spent $0.4M on share repurchases. This shows the company's commitment to returning capital to its equity investors.