Revenue growth has contracted to -8.5% in 2026Q1, while NOI margins experienced a sharp compression to 6.1% compared to historical levels exceeding 60%.
Presidio Property Trust, Inc. (SQFT) annual income statement — 18-year revenue, gross profit & net income 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 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|
| Revenue | 15.9M | 16.81M | 18.93M | 17.64M | 17.76M | 19.23M | 24.35M | 28.64M | 32.34M | 33.37M | 32.45M | 23.98M | 16.47M | 19.56M | 17.67M | 14.08M | 10.2B | 2.94B | 2.68B |
| Revenue Growth % | -11.93% | -11.15% | 7.31% | -0.72% | -7.63% | -21.03% | -14.98% | -11.45% | -3.09% | 2.84% | 35.34% | 45.56% | -15.79% | 10.72% | 25.52% | -99.86% | 246.82% | 9.65% | - |
| Property Operating Expenses | 9.68M | 15.88M | 6.26M | 5.96M | 5.84M | 6.18M | 8.82M | 10.43M | 10.89M | 10.72M | 10.14M | 8.52M | 5.75M | 6.38M | 5.55M | 4.94M | 4.31B | 0 | 0 |
| Net Operating Income (NOI) | 6.22M | 932.12K | 12.67M | 11.67M | 11.92M | 13.05M | 15.53M | 18.21M | 21.46M | 22.65M | 22.32M | 15.46M | 10.72M | 13.18M | 12.11M | 9.13M | 5.88B | 2.94B | 2.68B |
| NOI Margin % | 39.11% | 5.54% | 66.94% | 66.19% | 67.12% | 67.85% | 63.79% | 63.57% | 66.34% | 67.87% | 68.77% | 64.49% | 65.1% | 67.38% | 68.56% | 64.88% | 57.7% | 100% | 100% |
| Operating Expenses | 1.68M | 1.03M | 13.04M | 12.22M | 11.63M | 11.62M | 5.75M | 5.27M | 13.63M | 14.91M | 15.32M | 12.46M | 9.96M | 10.76M | 9.34M | 8.45M | 9.99B | 2.33B | 1.68B |
| G&A Expenses | 5.83M | 5.7B | 7.53M | 6.79M | 6.16M | 6.23M | 5.75M | 5.27M | 4.53M | 5.2M | 5.07M | 4.67M | 4.58M | 5.44M | 4.75M | 3.85M | 3.41B | 2.33B | 1.68B |
| EBITDA | 8.84M | 4.76M | 5.14M | 4.88M | 5.7M | 6.8M | 15.94M | 20.17M | 16.1M | 17.24M | 17.25M | 10.96M | 5.86M | 7.74M | 7.66M | 4.86M | -573.04M | 3.48B | 3.34B |
| EBITDA Margin % | 55.58% | 28.3% | 27.15% | 27.68% | 32.11% | 35.38% | 65.44% | 70.43% | 49.77% | 51.67% | 53.16% | 45.69% | 35.58% | 39.55% | 43.36% | 34.51% | -5.62% | 118.21% | 124.66% |
| Depreciation & Amortization | 4.3M | 4.86M | 5.51M | 5.43M | 5.41M | 5.38M | 6.15M | 7.23M | 8.28M | 9.5M | 10.26M | 7.95M | 6.05M | 5.31M | 5.17M | 4.17M | 3.53B | 2.19B | 2.09B |
| D&A / Revenue % | 27.06% | 28.89% | 29.12% | 30.77% | 30.46% | 27.97% | 25.27% | 25.26% | 25.59% | 28.48% | 31.6% | 33.16% | 36.72% | 27.14% | 29.25% | 29.63% | 34.64% | 74.37% | 77.88% |
| Operating Income | 4.53M | -98.73K | -373K | -543.48K | 294.05K | 1.42M | 9.78M | 12.94M | 7.82M | 7.74M | 7M | 3.01M | -187.16K | 2.43M | 2.49M | 687.29K | -4.1B | 1.29B | 1.25B |
| Operating Margin % | 28.52% | -0.59% | -1.97% | -3.08% | 1.66% | 7.41% | 40.17% | 45.17% | 24.19% | 23.19% | 21.55% | 12.54% | -1.14% | 12.41% | 14.1% | 4.88% | -40.26% | 43.84% | 46.78% |
| Interest Expense | 4M | 6.05M | 6.2M | 5M | 4.71M | 4.86M | 8.83M | 10.65M | 13.04M | 12.95M | 13.53M | 10.77M | 5.6M | 4.94M | 0 | -3.19M | 0 | 998.35M | 1.19B |
| Interest Coverage | - | -0.18x | -2.72x | 3.57x | 1.57x | 0.69x | 0.40x | 0.52x | 0.60x | 0.60x | 0.60x | 0.40x | 0.99x | 0.49x | - | -0.61x | - | -0.00x | -0.00x |
| Non-Operating Income | 6.23M | 977.76K | 16.47M | -18.39M | -7.12M | -1.93M | 6.27M | 7.36M | 0 | 0 | -1.18M | -1.31M | -123.63M | -2M | 4.49M | 2.65M | -4.1B | 0 | 0 |
| Pretax Income | -7.73M | -7.13M | -23.04M | 12.84M | 2.7M | -1.51M | -5.89M | 1.38M | 4.97M | -2.63M | -5.36M | -6.45M | -45.8K | -2.52M | -1.64M | -2.62M | -2.99B | 22.44M | 23.96M |
| Pretax Margin % | -48.64% | -42.39% | -121.76% | 72.82% | 15.21% | -7.86% | -24.19% | 4.83% | 15.37% | -7.89% | -16.51% | -26.91% | -0.28% | -12.9% | -9.26% | -18.59% | -29.32% | 0.76% | 0.89% |
| Income Tax | 479.36K | 463.17K | 60.85K | -335.78K | 1.22M | -47.62K | 370.88K | 611.26K | 518.57K | 208.68K | 213.86K | 172.69K | 813.5K | 1.57M | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | -6.2% | -6.5% | -0.26% | -2.61% | 45.01% | 3.15% | -6.3% | 44.16% | 10.43% | -7.92% | -3.99% | -2.68% | -1776.01% | -62.07% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -9.21M | -8.28M | -25.63M | 10.15M | -2.13M | -3.63M | -7.67M | -610.21K | 3.38M | -3.48M | -5.81M | -3.82M | -4.05M | -4.09M | -2.13M | -2.62M | -2.99B | 22.44M | 23.96M |
| Net Margin % | -57.9% | -49.22% | -135.42% | 57.53% | -11.97% | -18.85% | -31.51% | -2.13% | 10.46% | -10.44% | -17.91% | -15.93% | -24.56% | -20.9% | -12.07% | -18.59% | -29.32% | 0.76% | 0.89% |
| Net Income Growth % | 20.3% | 67.71% | -352.59% | 577% | 41.33% | 52.75% | -1157.59% | -118.03% | 197.13% | 40.05% | -52.21% | 5.61% | 1.06% | -91.66% | 18.47% | 99.91% | -13422.11% | -6.36% | - |
| Funds From Operations (FFO) | -4.9M | -3.42M | -20.12M | 15.57M | 3.28M | 1.75M | -1.52M | 6.62M | 11.66M | 6.02M | 4.44M | 4.13M | 2M | 1.22M | 3.04M | 1.55M | 541.91M | 2.21B | 2.11B |
| FFO Margin % | -30.84% | -20.33% | -106.3% | 88.3% | 18.48% | 9.12% | -6.24% | 23.13% | 36.05% | 18.03% | 13.69% | 17.23% | 12.16% | 6.24% | 17.18% | 11.04% | 5.32% | 75.14% | 78.78% |
| FFO Growth % | -95.55% | 83.01% | -229.19% | 374.33% | 87.2% | 215.4% | -122.94% | -43.19% | 93.73% | 35.45% | 7.55% | 106.21% | 64.18% | -59.79% | 95.35% | -99.71% | -75.47% | 4.59% | - |
| FFO per Share | -3.73 | -2.80 | -16.24 | 13.14 | 2.79 | 1.70 | -1.68 | 7.47 | 6.53 | 3.42 | 2.57 | 0.24 | 0.12 | 0.15 | 0.39 | 0.11 | 48.34 | 228.65 | 306.66 |
| FFO Payout Ratio % | 0% | 0% | 0% | 7.67% | 94.87% | 255.07% | -63.39% | 32.59% | 9222.47% | 60.16% | 101.66% | 99.8% | 239.73% | 390.47% | 140.7% | 230.56% | 0.52% | 0.11% | 0.07% |
| EPS (Diluted) | -7.00 | -8.65 | -2.25 | 0.68 | -5.73 | -0.14 | -0.69 | -0.69 | 0.19 | -0.20 | -0.34 | -0.22 | -0.24 | -0.51 | -0.28 | -0.18 | -0.27 | 0.00 | 0.00 |
| EPS Growth % | -75% | -284.44% | -430.88% | 111.87% | -3992.86% | 79.71% | 0% | -463.16% | 195% | 41.18% | -54.55% | 8.33% | 52.94% | -82.14% | -55.56% | 33.33% | - | - | - |
| EPS (Basic) | - | -8.65 | -2.25 | 0.68 | -5.73 | -0.14 | -0.69 | -0.69 | 0.19 | -0.20 | -0.34 | -0.22 | -0.24 | -0.51 | -0.28 | -0.18 | -0.27 | 0.00 | 0.00 |
| Diluted Shares Outstanding | 1.32M | 1.22M | 1.24M | 1.19M | 1.18M | 1.03M | 902.39K | 886.3K | 1.79M | 1.76M | 1.73M | 17.14M | 16.8M | 8.09M | 7.74M | 14.19M | 11.21M | 9.66M | 6.89M |
Quick answers to the most common questions about buying SQFT stock.
For fiscal year 2025, Presidio Property Trust, Inc. (SQFT) reported total revenue of $16.8M. This represents a 99.4% decline compared to $2.68B in 2008.
Presidio Property Trust, Inc. (SQFT) reported a net loss of $8.3M for the fiscal year ending 2025.
Presidio Property Trust, Inc. (SQFT) reported an operating income of $-0.1M, resulting in an operating profit margin of -0.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Presidio Property Trust, Inc. (SQFT) generated $0.9M in gross profit for the year, representing a gross profit margin of 5.5%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Persistent negative earnings trajectory
Metrics are mathematically derived from official filings.
Revenue Contraction Challenges Growth Outlook
As reported in the company's quarterly financial statements, revenue growth has trended downward to -8.5% in 2026Q1, reflecting a broader struggle to maintain top-line momentum amidst a portfolio that appears to be shedding income-producing assets without sufficient replacement through new acquisitions or organic development.
The consistent decline in revenue suggests that the company's model home leaseback program and commercial assets are failing to offset the impact of lease expirations. Investors should monitor whether this contraction is a strategic divestment or a symptom of an inability to compete for new capital-efficient opportunities in the current interest rate environment.
NOI Margin Volatility Signals Instability
According to the provided income statement data, the NOI margin experienced a sharp compression to 6.1% in 2026Q1, a significant departure from the 60% plus levels observed in previous periods, which indicates that property-level operating expenses are disproportionately consuming the limited rental income generated by the portfolio.
This collapse in property-level profitability suggests that the company is struggling to manage its cost structure effectively, potentially due to rising maintenance requirements or inefficient property tax management. The inability to maintain stable margins implies that the current operating model may be fundamentally misaligned with the scale of the existing asset base.
FFO Volatility Undermines Dividend Sustainability
Based on the company's reported figures, FFO per share has exhibited extreme volatility, swinging from a positive $1.10 in 2026Q1 to deep negative territory in prior quarters, which raises significant concerns regarding the reliability of cash flows available to support the current dividend yield.
The erratic nature of FFO suggests that non-recurring items or significant impairment charges are masking the true underlying cash-generating capacity of the REIT. Investors should be wary of the sustainability of the dividend, as the current FFO trajectory does not appear to provide a consistent buffer for shareholder distributions.
GAAP Distortions Obscure Economic Reality
Financial statements indicate that GAAP net income remains consistently negative, with a net loss of $440.9K in 2026Q1, largely driven by heavy depreciation charges that do not necessarily reflect the economic reality of the company's specialized model home and commercial real estate portfolio.
While depreciation is a non-cash expense, the persistent net losses suggest that the company's recurring maintenance CAPEX requirements may be higher than the depreciation charges themselves. This warrants further investigation into whether the company is effectively reinvesting in its assets to maintain their long-term value or merely deferring necessary capital improvements.