Revenue remains volatile, fluctuating between $1.8 million and $2.6 million over the last ten quarters, while the company maintains exceptional capital efficiency with NOI margins consistently near 100%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 |
|---|
| Revenue | 7.95M | 8.67M | 9.69M | 9.83M | 8.58M | 6.82M | 5.66M | 5.71M | 5.53M | 4.69M | 3.86M | 3.31M | 2.36M | 1.84M | 1.56M | 1.4M | 1.21M | 1.04M | 757.67K | 221.16K | 232.19K | 4.45M | 5.95M | 9.09M | 6.53M | 5.59M | 6.24M | 4.5M | 2.8M |
| Revenue Growth % | 1.9% | -10.55% | -1.42% | 14.49% | 25.9% | 20.37% | -0.85% | 3.37% | 17.88% | 21.47% | 16.72% | 40.17% | 28.03% | 18.4% | 11.13% | 15.77% | 16.44% | 37.11% | 242.58% | -4.75% | -94.78% | -25.24% | -34.53% | 39.15% | 16.9% | -10.45% | 38.6% | 60.71% | - |
| Property Operating Expenses | 5.98K | 13.22K | 2.32M | 2.53M | 6.81K | 1.05M | 7.01K | 5.16K | 5.42K | 8.3K | 12.49K | 8.07K | -544.41K | -416.79K | 280.65K | 0 | 0 | 0 | 74.02K | 49.34K | 189.29K | 659.46K | 902.33K | 2.12M | 1.73M | 1.5M | 1.42M | 300K | 400K |
| Net Operating Income (NOI) | 7.95M | 8.65M | 7.37M | 7.3M | 8.58M | 5.77M | 5.66M | 5.71M | 5.52M | 4.68M | 3.85M | 3.3M | 2.9M | 2.26M | 1.28M | 1.4M | 1.21M | 1.04M | 683.65K | 171.82K | 42.9K | 3.79M | 5.05M | 6.97M | 4.8M | 4.08M | 4.82M | 4.2M | 2.4M |
| NOI Margin % | 99.92% | 99.85% | 76.05% | 74.3% | 99.92% | 84.67% | 99.88% | 99.91% | 99.9% | 99.82% | 99.68% | 99.76% | 123.08% | 122.62% | 81.97% | 100% | 100% | 100% | 90.23% | 77.69% | 18.48% | 85.17% | 84.83% | 76.69% | 73.51% | 73.12% | 77.2% | 93.33% | 85.71% |
| Operating Expenses | 1.79M | 1.8M | 1.78M | 1.83M | 1.55M | -1.35M | 1.45M | 1.21M | 1.32M | 1.23M | 1.01M | 1.04M | 879.15K | 839.47K | 870.53K | 874.6K | 795.21K | 673.22K | 682.46K | 789.88K | 1.15M | 4.76M | 5.46M | 6.57M | 5.39M | 4.78M | 5.07M | 3.4M | 1.7M |
| G&A Expenses | 1.79M | 1.81M | 1.78M | 1.83M | 1.55M | 1.35M | 1.43M | 1.2M | 1.32M | 1.23M | 1.01M | 1.04M | 876.91K | 837.79K | 864.4K | 874.6K | 795.21K | 673.22K | 682.46K | 765.54K | 1.01M | 4.76M | 5.46M | 6.55M | 5.39M | 4.69M | 5.07M | 3.3M | 1.7M |
| EBITDA | 5.82M | 6.85M | 5.6M | 5.45M | 5.21M | 4.43M | 5.67M | 7.34M | 8.93M | 5.92M | 4.65M | 2.27M | 2.02M | 1.42M | 664.97K | 370.91K | 388.95K | 369.57K | 6.04K | -539.84K | -1.06M | -883.61K | -285.51K | 594.34K | -460.71K | -487.63K | -118.3K | 700K | 700K |
| EBITDA Margin % | 73.14% | 79.09% | 57.76% | 55.42% | 60.75% | 64.92% | 100.1% | 128.43% | 161.52% | 126.24% | 120.44% | 68.76% | 85.81% | 77.06% | 42.73% | 26.49% | 32.15% | 35.58% | 0.8% | -244.09% | -457.57% | -19.87% | -4.8% | 6.54% | -7.06% | -8.73% | -1.9% | 15.56% | 25% |
| Depreciation & Amortization | 24.43K | 4.98K | 4.87K | 4.06K | 2.31K | 2.27K | 1.44M | 2.84M | 3.02M | 2.46M | 1.79M | 5.71K | 563.37K | 442.66K | 588 | 1.84K | 3.03K | 3.96K | 4.84K | 53.88K | 44.15K | 85.43K | 125.04K | 174.26K | 133.1K | 118.09K | 133.3K | -100K | 0 |
| D&A / Revenue % | 0.31% | 0.06% | 0.05% | 0.04% | 0.03% | 0.03% | 25.43% | 49.74% | 54.69% | 52.41% | 46.49% | 0.17% | 23.88% | 24.02% | 0.04% | 0.13% | 0.25% | 0.38% | 0.64% | 24.36% | 19.01% | 1.92% | 2.1% | 1.92% | 2.04% | 2.11% | 2.14% | -2.22% | 0% |
| Operating Income | 5.79M | 6.85M | 5.59M | 5.44M | 5.21M | 4.42M | 4.23M | 4.5M | 5.9M | 3.46M | 2.85M | 2.27M | 1.46M | 977.42K | 664.38K | 369.08K | 385.92K | 365.6K | 1.2K | -593.72K | -1.11M | -969.04K | -410.55K | 420.08K | -593.81K | -605.72K | -251.59K | 800K | 700K |
| Operating Margin % | 72.83% | 79.04% | 57.71% | 55.38% | 60.72% | 64.88% | 74.68% | 78.68% | 106.83% | 73.83% | 73.95% | 68.59% | 61.93% | 53.04% | 42.69% | 26.35% | 31.9% | 35.19% | 0.16% | -268.46% | -476.58% | -21.79% | -6.9% | 4.62% | -9.09% | -10.84% | -4.03% | 17.78% | 25% |
| Interest Expense | 1.3M | 1.76M | 2.34M | 2.53M | 1.82M | 1.05M | 1.36M | 1.64M | 1.7M | 1.23M | 780.12K | 691.39K | 563.37K | 442.66K | 280.65K | 156.77K | 28.53K | 24.21K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Coverage | - | 3.91x | 3.38x | 3.15x | 3.85x | 4.23x | 4.10x | 2.75x | 2.47x | 3.81x | 4.64x | 4.24x | 2.59x | 2.21x | 2.37x | 2.35x | 20.01x | 15.10x | - | - | - | - | - | - | - | - | - | - | - |
| Non-Operating Income | 1.4M | -18K | 0 | -2.53M | -1.82M | 0 | -1.36M | 0 | 0 | -1.21M | -765.12K | -662.53K | 0 | 0 | 0 | 0 | -33.5K | 0 | 0 | 24.34K | 0 | 0 | 0 | 26.04K | -5.85K | 91.67K | 0 | 600K | 0 |
| Pretax Income | 5.01M | 5.11M | 5.59M | 5.48M | 5.21M | 4.42M | 4.23M | 4.5M | 4.21M | 3.44M | 2.84M | 2.24M | 1.48M | 969.97K | 691.93K | 448.41K | 542.31K | 409.53K | -588.1K | -221.29K | -897.7K | -456.05K | 175.97K | 1.89M | -353.13K | -200.83K | 173.43K | 800K | 700K |
| Pretax Margin % | 63.03% | 58.99% | 57.71% | 55.73% | 60.72% | 64.88% | 74.68% | 78.68% | 76.09% | 73.4% | 73.56% | 67.71% | 62.83% | 52.64% | 44.46% | 32.02% | 44.83% | 39.42% | -77.62% | -100.06% | -386.62% | -10.25% | 2.96% | 20.77% | -5.41% | -3.6% | 2.78% | 17.78% | 25% |
| Income Tax | 1.21K | 1.21K | 650 | 650 | 650 | 647 | 645 | 572 | 642 | 2.97K | 2.15K | 1.59K | 27.84K | 387K | 303.32K | 191.88K | 222.85K | 173.78K | 4.67K | -182.47K | -932.48K | -457.99K | 70.8K | 288.25K | -155.13K | -83.75K | 87.67K | 400K | 300K |
| Effective Tax Rate % | 0.02% | 0.02% | 0.01% | 0.01% | 0.01% | 0.01% | 0.02% | 0.01% | 0.02% | 0.09% | 0.08% | 0.07% | 1.88% | 39.9% | 43.84% | 42.79% | 41.09% | 42.43% | -0.79% | 82.46% | 103.87% | 100.42% | 40.24% | 15.27% | 43.93% | 41.7% | 50.55% | 50% | 42.86% |
| Net Income | 5.01M | 5.11M | 5.59M | 5.48M | 5.21M | 4.42M | 4.23M | 4.49M | 4.2M | 3.44M | 2.84M | 2.24M | 1.45M | 582.97K | 388.61K | 256.52K | 319.46K | 235.75K | -519.86K | -31.7K | -174.11K | -511.05K | 1.04M | 1.6M | -1.09M | -117.08K | -425.31K | 400K | 400K |
| Net Margin % | 63.01% | 58.98% | 57.71% | 55.72% | 60.71% | 64.87% | 74.67% | 78.67% | 76.07% | 73.34% | 73.5% | 67.66% | 61.65% | 31.64% | 24.97% | 18.32% | 26.41% | 22.69% | -68.61% | -14.34% | -74.99% | -11.49% | 17.4% | 17.6% | -16.74% | -2.1% | -6.82% | 8.89% | 14.29% |
| Net Income Growth % | -8.67% | -8.58% | 2.1% | 5.07% | 17.82% | 4.59% | -5.9% | 6.9% | 22.27% | 21.2% | 26.79% | 53.84% | 149.5% | 50.01% | 51.49% | -19.7% | 35.51% | 145.35% | -1539.73% | 81.79% | 65.93% | -149.38% | -35.27% | 246.29% | -833.56% | 72.47% | -206.33% | 0% | - |
| Funds From Operations (FFO) | 5.1M | 5.12M | 5.6M | 5.48M | 5.21M | 4.43M | 5.67M | 7.34M | 7.23M | 5.9M | 4.63M | 2.24M | 2.02M | 1.03M | 389.2K | 258.36K | 322.5K | 239.71K | -515.02K | 22.18K | -129.96K | -425.63K | 1.16M | 1.77M | -959.89K | 1.01K | -292.01K | 300K | 400K |
| FFO Margin % | 64.14% | 59.03% | 57.76% | 55.76% | 60.74% | 64.91% | 100.09% | 128.42% | 130.76% | 125.75% | 119.99% | 67.84% | 85.53% | 55.66% | 25.01% | 18.45% | 26.66% | 23.08% | -67.97% | 10.03% | -55.97% | -9.57% | 19.5% | 19.52% | -14.7% | 0.02% | -4.68% | 6.67% | 14.29% |
| FFO Growth % | -29.01% | -8.58% | 2.11% | 5.11% | 17.82% | -21.94% | -22.72% | 1.51% | 22.57% | 27.3% | 106.46% | 11.17% | 96.75% | 163.52% | 50.64% | -19.89% | 34.54% | 146.54% | -2422.31% | 117.06% | 69.47% | -136.69% | -34.58% | 284.73% | -95233.3% | 100.35% | -197.34% | - | - |
| FFO per Share | 0.45 | 0.45 | 0.49 | 0.48 | 0.45 | 0.42 | 0.59 | 0.76 | 0.82 | 0.73 | 0.61 | 0.33 | 0.40 | 0.24 | 0.09 | 0.07 | 0.10 | 0.07 | -0.16 | 0.01 | -0.04 | -0.13 | 0.36 | 0.59 | -0.33 | 0.00 | -0.10 | 0.14 | 0.29 |
| FFO Payout Ratio % | 51.57% | 102.85% | 93.52% | 96.86% | 110.23% | 112.76% | 73.08% | 63.2% | 55.33% | 55.78% | 58.39% | 94.91% | 42.3% | 12.48% | 0% | 0% | 0% | 0% | 0% | 0% | -241.8% | -423.67% | 64.14% | 0% | 0% | 0% | 0% | 0% | 0% |
| EPS (Diluted) | 0.44 | 0.45 | 0.49 | 0.48 | 0.45 | 0.42 | 0.44 | 0.47 | 0.48 | 0.42 | 0.37 | 0.33 | 0.29 | 0.14 | 0.09 | 0.07 | 0.09 | 0.07 | -0.16 | -0.01 | -0.05 | -0.16 | 0.32 | 0.53 | -0.37 | -0.04 | -0.15 | 0.19 | 0.29 |
| EPS Growth % | -6.77% | -8.16% | 2.08% | 6.67% | 7.14% | -4.55% | -6.38% | -2.08% | 14.29% | 13.51% | 12.12% | 13.79% | 107.14% | 55.56% | 28.57% | -22.22% | 28.57% | 143.75% | - | 82.12% | 65.75% | -150% | -39.62% | 243.24% | -818.11% | 73.13% | -178.95% | -34.48% | - |
| EPS (Basic) | - | 0.45 | 0.49 | 0.48 | 0.45 | 0.42 | 0.44 | 0.47 | 0.48 | 0.42 | 0.37 | 0.33 | 0.29 | 0.14 | 0.09 | 0.07 | 0.10 | 0.07 | -0.16 | -0.01 | -0.05 | -0.16 | 0.34 | 0.55 | -0.37 | -0.04 | -0.15 | 0.19 | 0.29 |
| Diluted Shares Outstanding | 11.43M | 11.44M | 11.44M | 11.47M | 11.49M | 10.52M | 9.63M | 9.66M | 8.8M | 8.13M | 7.61M | 6.79M | 5.06M | 4.29M | 4.33M | 3.65M | 3.37M | 3.33M | 3.25M | 3.24M | 3.18M | 3.19M | 3.24M | 3.02M | 2.92M | 2.91M | 2.92M | 2.11M | 1.38M |
Geographic concentration in NY
According to quarterly financial data, LOAN's revenue trajectory remains inconsistent, fluctuating between $1.8 million and $2.6 million over the last ten quarters, which suggests that the company's reliance on short-term loan turnover creates significant top-line sensitivity to regional lending demand in the New York metropolitan area.
The erratic revenue growth patterns indicate that the firm struggles to maintain a consistent origination pipeline, likely due to the hyper-local nature of its bridge lending niche. Investors should monitor whether the recent revenue figures reflect a strategic tightening of credit standards or a broader cyclical slowdown in the local real estate development market.
As reported in recent filings, LOAN has maintained FFO per share between $0.10 and $0.13 over the past two years, demonstrating a resilient earnings profile that appears largely insulated from the volatility seen in broader mortgage REIT sectors due to the company's minimal reliance on external leverage.
The consistency of FFO suggests that the core interest-generating engine remains functional, even as top-line revenue experiences periodic contractions. However, the lack of significant FFO growth warrants further investigation into whether the company's current capital allocation strategy is sufficient to drive long-term shareholder value in a high-rate environment.
Based on the provided income statement data, LOAN consistently reports NOI margins near 100%, which highlights the unique nature of its business model where the primary product is capital deployment rather than traditional property operations, effectively eliminating standard operating expense burdens found in typical equity REITs.
These near-perfect margins imply that the company operates with minimal property-level friction, allowing almost all interest income to flow directly to the bottom line. Analysts should remain cautious, however, as this high-margin structure is highly sensitive to any potential increase in credit losses or administrative overhead that could compress net profitability.
Financial statements indicate that LOAN maintains a substantial cash position relative to its revenue, which may suggest that a significant portion of the company's capital is currently sitting idle rather than being deployed into interest-bearing bridge loans, thereby creating a drag on overall return on equity.
While this liquidity provides a defensive buffer, it raises questions regarding management's ability to identify and execute on new lending opportunities in the current market. Investors should monitor whether this cash accumulation is a temporary byproduct of loan payoffs or a structural inability to redeploy capital effectively.
Quick answers to the most common questions about buying LOAN stock.
For fiscal year 2025, Manhattan Bridge Capital, Inc. (LOAN) reported total revenue of $8.7M. This represents a 209.5% increase compared to $2.8M in 1998.
Manhattan Bridge Capital, Inc. (LOAN) is profitable, generating $5.1M in net income for the fiscal year ending 2025 with a net profit margin of 59.0%.
Manhattan Bridge Capital, Inc. (LOAN) reported an operating income of $6.8M, resulting in an operating profit margin of 79.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Manhattan Bridge Capital, Inc. (LOAN) generated $8.7M in gross profit for the year, representing a gross profit margin of 99.8%. This demonstrates the company's core pricing power and production efficiency.