Revenue growth remains in a contractionary phase, with a 7.7% year-over-year decline in 2026Q1 and a volatile NOI margin that collapsed to -101.6% in 2025Q4.
| Revenue | 47.19M | 48.07M | 35.53M | 64.75M | 55.24M | 30.42M | 18.6M | 12.68M | 11.64M | 7M | 4.13M | 2.79M |
| Revenue Growth % | 56.44% | 35.31% | -45.13% | 17.21% | 81.56% | 63.55% | 46.7% | 8.95% | 66.34% | 69.27% | 48.33% | - |
| Property Operating Expenses | 33.86M | 28.67M | 744K | 532K | 212.83K | 167.05K | 123.73K | 127.13K | 65.06K | 56.72K | 0 | 0 |
| Net Operating Income (NOI) | 13.33M | 19.4M | 34.78M | 64.22M | 55.03M | 30.26M | 18.48M | 12.55M | 11.57M | 6.94M | 4.13M | 2.79M |
| NOI Margin % | 28.25% | 40.36% | 97.91% | 99.18% | 99.61% | 99.45% | 99.33% | 99% | 99.44% | 99.19% | 100% | 100% |
| Operating Expenses | 12.3M | 13.1M | 46.5M | 18.25M | 11.71M | 5.63M | 3.15M | 2.63M | 3.81M | 2.08M | 994.9K | 474.35K |
| G&A Expenses | 16.11M | 14.14M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBITDA | 943K | 6.31M | -11.35M | 46.24M | 43.43M | 24.71M | 15.39M | 9.99M | 7.8M | 4.89M | 3.57M | 2.56M |
| EBITDA Margin % | 2% | 13.12% | -31.94% | 71.41% | 78.61% | 81.21% | 82.72% | 78.78% | 66.99% | 69.88% | 86.44% | 91.99% |
| Depreciation & Amortization | -92K | 0 | 372K | 266K | 106.41K | 83.53K | 61.87K | 63.57K | 32.53K | 28.36K | 0 | 0 |
| D&A / Revenue % | -0.19% | 0% | 1.05% | 0.41% | 0.19% | 0.27% | 0.33% | 0.5% | 0.28% | 0.41% | 0% | 0% |
| Operating Income | 1.03M | 6.31M | -11.72M | 45.97M | 43.32M | 24.63M | 15.33M | 9.93M | 7.76M | 4.86M | 3.14M | 2.31M |
| Operating Margin % | 2.19% | 13.12% | -32.99% | 71% | 78.42% | 80.94% | 82.39% | 78.28% | 66.71% | 69.47% | 75.93% | 82.98% |
| Interest Expense | 2M | 0 | 27.8M | 29.19M | 21.55M | 10.42M | 5.55M | 2.94M | 1.67M | 664.13K | 522.52K | 256.6K |
| Interest Coverage | - | - | -0.42x | 1.54x | 1.97x | 2.28x | 2.62x | 3.11x | 5.67x | 8.32x | 6.84x | 9.99x |
| Non-Operating Income | 0 | 0 | 53K | 882K | 860.16K | 884.91K | 785.79K | 792.21K | -1.67M | -664.13K | -434.55K | -251.12K |
| Pretax Income | 1.07M | 6.31M | -39.57M | 15.9M | 20.91M | 13.32M | 8.99M | 6.2M | 7.77M | 4.86M | 3.05M | 2.31M |
| Pretax Margin % | 2.27% | 13.12% | -111.38% | 24.55% | 37.85% | 43.78% | 48.35% | 48.86% | 66.78% | 69.47% | 73.8% | 82.78% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | 1.07M | 6.31M | -39.57M | 15.9M | 20.91M | 13.32M | 8.99M | 6.2M | 7.77M | 4.86M | 3.05M | 2.31M |
| Net Margin % | 2.27% | 13.12% | -111.38% | 24.55% | 37.85% | 43.78% | 48.35% | 48.86% | 66.78% | 69.47% | 73.8% | 82.78% |
| Net Income Growth % | 102.47% | 115.94% | -348.89% | -23.96% | 56.99% | 48.09% | 45.16% | -20.28% | 59.89% | 59.34% | 32.24% | - |
| Funds From Operations (FFO) | 1.49M | 9.04M | -39.2M | 16.16M | 21.02M | 13.4M | 9.06M | 6.26M | 7.8M | 4.89M | 3.05M | 2.31M |
| FFO Margin % | 3.15% | 18.79% | -110.34% | 24.97% | 38.04% | 44.05% | 48.68% | 49.36% | 67.06% | 69.88% | 73.8% | 82.78% |
| FFO Growth % | -86.94% | 123.05% | -342.49% | -23.08% | 56.8% | 48% | 44.67% | -19.79% | 59.62% | - | - | - |
| FFO per Share | 0.03 | 0.19 | -0.83 | 0.37 | 0.56 | 0.51 | 0.41 | 0.32 | 0.51 | 0.41 | 0.27 | 0.20 |
| FFO Payout Ratio % | 480.61% | 105.15% | -42.11% | 159.16% | 107.05% | 91.53% | 87.93% | 154.67% | 86.97% | 118.62% | 127.16% | 60.52% |
| EPS (Diluted) | 0.02 | 0.04 | -0.93 | 0.27 | 0.46 | 0.44 | 0.41 | 0.32 | 0.50 | 0.41 | 0.27 | 0.20 |
| EPS Growth % | 82.42% | 104.2% | -444.44% | -41.3% | 4.55% | 7.32% | 28.13% | -36% | 21.95% | 51.85% | 35% | - |
| EPS (Basic) | - | 0.04 | -0.93 | 0.27 | 0.46 | 0.44 | 0.41 | 0.32 | 0.50 | 0.41 | 0.27 | 0.20 |
| Diluted Shares Outstanding | 47.18M | 46.9M | 47.41M | 44.24M | 37.75M | 26.32M | 22.12M | 19.42M | 15.43M | 11.96M | 11.1M | 11.52M |
High Portfolio Credit Volatility
As evidenced by the most recent financial data, Sachem Capital Corp. experienced a significant revenue contraction, with quarterly figures fluctuating from a high of $16.8M in 2024Q1 to $10.6M in 2026Q1, suggesting that the company's reliance on short-term loan recycling is struggling to maintain consistent top-line momentum.
The erratic revenue trajectory appears to reflect the inherent difficulty in scaling a high-touch, bridge-lending model in a volatile interest rate environment. Investors should monitor whether the recent decline in revenue is a result of intentional portfolio de-risking or an inability to source high-quality originations at competitive yields.
According to reported quarterly filings, FFO per share has exhibited extreme volatility, swinging from a positive $0.10 in 2024Q1 to a negative $0.08 by 2026Q1, which indicates that the company's core earnings power is currently insufficient to provide a reliable buffer for dividend distributions.
The frequent shifts between positive and negative FFO suggest that the company's operating model is highly sensitive to credit-related adjustments and non-recurring charges. This lack of FFO stability warrants further investigation into the underlying quality of the loan book and the potential for future earnings dilution.
Based on the provided income statement data, the NOI margin experienced a dramatic collapse in 2025Q4 to -101.6%, a sharp departure from the historical stability observed in earlier periods where margins consistently hovered near 98%, indicating significant property-level or credit-related disruptions within the portfolio.
The sudden erosion of NOI margins suggests that the company may be absorbing substantial costs related to non-performing loans or foreclosure activities. Such a drastic shift implies that the property-level profitability is no longer insulated from the broader credit risks inherent in the firm's transitional lending strategy.
Financial statements reveal that the company's net income has frequently diverged from operational performance, with a notable $36.1M net loss in 2024Q4, suggesting that the impact of CECL provisions and potential asset write-downs may be masking the true economic health of the lending portfolio.
The recurring disconnect between GAAP net income and operational cash flow metrics suggests that the company's accounting for credit losses is a primary driver of earnings volatility. Analysts should remain cautious, as these subjective provisions may indicate deeper, unrealized stress within the collateral base that has yet to be fully reflected in the income statement.
Quick answers to the most common questions about buying SCCG stock.
For fiscal year 2025, Sachem Capital Corp. 8.00% Note (SCCG) reported total revenue of $48.1M. This represents a 1625.1% increase compared to $2.8M in 2015.
Sachem Capital Corp. 8.00% Note (SCCG) is profitable, generating $6.3M in net income for the fiscal year ending 2025 with a net profit margin of 13.1%.
Sachem Capital Corp. 8.00% Note (SCCG) reported an operating income of $6.3M, resulting in an operating profit margin of 13.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Sachem Capital Corp. 8.00% Note (SCCG) generated $19.4M in gross profit for the year, representing a gross profit margin of 40.4%. This demonstrates the company's core pricing power and production efficiency.