Whitestone REIT (WSR) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Revenue | 41.88M | 43.92M | 41.05M | 38.3M | 38.32M | 41.03M | 38.98M | 37.73M | 37.76M | 37.53M | 37.52M | 35.45M | 35.66M | 34.88M | 35.48M | 34.87M | 34.43M | 33.47M | 32.64M | 30.8M |
| Revenue Growth % | 9.27% | 7.02% | 5.31% | 1.49% | 1.48% | 9.34% | 3.88% | 6.43% | 5.9% | 7.59% | 5.77% | 1.67% | 3.57% | 4.23% | 8.68% | 13.24% | 18.54% | 11.39% | 8.27% | 11.59% |
| Property Operating Expenses | 32.44M | 14.46M | 13.28M | 11.14M | 11.26M | 12.32M | 12.14M | 10.93M | 10.59M | 20.38M | 11.55M | 11.67M | 10.79M | 10.18M | 11.83M | 11.2M | 10.09M | 10.46M | 10.38M | 9.6M |
| Net Operating Income (NOI) | 9.44M | 29.46M | 27.77M | 27.16M | 27.06M | 28.71M | 26.84M | 26.81M | 27.18M | 17.15M | 25.97M | 23.79M | 24.87M | 24.7M | 23.64M | 23.67M | 24.34M | 23M | 22.26M | 21.19M |
| NOI Margin % | 22.55% | 67.08% | 67.66% | 70.91% | 70.61% | 69.97% | 68.85% | 71.04% | 71.97% | 45.7% | 69.21% | 67.09% | 69.73% | 70.83% | 66.65% | 67.89% | 70.69% | 68.73% | 68.21% | 68.81% |
| Operating Expenses | -3.74M | 16.02M | 13.65M | 13.44M | 14.77M | 14.23M | 13.8M | 15.07M | 14.98M | 3.02M | 25.97M | 5.17M | 5.08M | 5M | 4.83M | 12.92M | 3.05M | 6.59M | 5.67M | 4.73M |
| G&A Expenses | 0 | 5.54M | 5.32M | 4.92M | 5.44M | 5.58M | 4.88M | 6.55M | 6.18M | 5M | 5.39M | 5.17M | 5.08M | 5M | 4.83M | 5.18M | 3.05M | 6.59M | 5.67M | 4.73M |
| EBITDA | 23.16M | 23.2M | 22.45M | 22.26M | 21.65M | 23.16M | 21.98M | 20.27M | 21.02M | 22.57M | 19.37M | 26.99M | 27.66M | 27.75M | 26.7M | 18.59M | 29.2M | 23.91M | 23.93M | 23.57M |
| EBITDA Margin % | 55.3% | 52.83% | 54.7% | 58.13% | 56.49% | 56.43% | 56.39% | 53.73% | 55.66% | 60.13% | 51.62% | 76.14% | 77.56% | 79.55% | 75.27% | 53.32% | 84.81% | 71.43% | 73.32% | 76.53% |
| Depreciation & Amortization | 9.97M | 9.76M | 8.33M | 8.54M | 9.36M | 8.67M | 8.94M | 8.54M | 8.82M | 8.43M | 8.35M | 8.38M | 7.88M | 8.05M | 7.89M | 7.86M | 7.91M | 7.49M | 7.34M | 7.11M |
| D&A / Revenue % | 23.82% | 22.22% | 20.3% | 22.31% | 24.42% | 21.14% | 22.94% | 22.64% | 23.36% | 22.46% | 22.26% | 23.64% | 22.08% | 23.07% | 22.24% | 22.55% | 22.98% | 22.39% | 22.49% | 23.07% |
| Operating Income | 13.18M | 13.44M | 14.12M | 13.72M | 12.29M | 14.48M | 13.04M | 11.73M | 12.2M | 14.14M | 0 | 18.61M | 19.78M | 19.7M | 18.81M | 10.73M | 21.29M | 16.41M | 16.59M | 16.46M |
| Operating Margin % | 31.48% | 30.61% | 34.41% | 35.82% | 32.07% | 35.29% | 33.45% | 31.09% | 32.3% | 37.67% | 0% | 52.5% | 55.47% | 56.49% | 53.03% | 30.77% | 61.83% | 49.05% | 50.83% | 53.45% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Interest Coverage | 1.50x | 3.70x | 3.16x | 1.63x | 1.35x | 3.15x | 1.92x | 1.31x | 2.12x | 1.70x | 1.31x | 1.24x | 1.51x | 1.44x | 1.60x | 1.72x | 2.21x | 1.45x | 1.51x | 1.52x |
| Non-Operating Income | 206K | -18.44M | -13.23M | 216K | 319K | -11.42M | -3.31M | 229K | -5.91M | 0 | -11.02M | 8.36M | 7.85M | 8.05M | 7.89M | 15K | 7.91M | 7.49M | 7.34M | 7.11M |
| Pretax Income | 4.33M | 23.25M | 18.7M | 5.21M | 3.88M | 17.68M | 7.84M | 2.72M | 9.58M | 1.67M | 2.62M | 11.59M | 4.02M | 20.34M | 4.09M | 4.51M | 7.29M | 2.76M | 3.05M | 3.47M |
| Pretax Margin % | 10.33% | 52.95% | 45.55% | 13.61% | 10.11% | 43.09% | 20.12% | 7.2% | 25.38% | 4.46% | 6.97% | 32.69% | 11.27% | 58.31% | 11.52% | 12.92% | 21.17% | 8.24% | 9.33% | 11.27% |
| Income Tax | 132K | 130K | 131K | 94K | 127K | 123K | 118K | 90K | 119K | 111K | 95K | 125K | 119K | 109K | 112K | 100K | 101K | 111K | 100K | 87K |
| Effective Tax Rate % | 3.05% | 0.56% | 0.7% | 1.8% | 3.28% | 0.7% | 1.5% | 3.31% | 1.24% | 6.63% | 3.63% | 1.08% | 2.96% | 0.54% | 2.74% | 2.22% | 1.39% | 4.02% | 3.28% | 2.51% |
| Net Income | 4.14M | 22.84M | 18.33M | 5.05M | 3.7M | 17.34M | 7.62M | 2.59M | 9.34M | 1.54M | 2.49M | 11.31M | 3.85M | 19.94M | 3.92M | 4.34M | 7.08M | 2.61M | 2.9M | 5.13M |
| Net Margin % | 9.89% | 52% | 44.66% | 13.2% | 9.66% | 42.25% | 19.56% | 6.87% | 24.73% | 4.11% | 6.63% | 31.89% | 10.79% | 57.16% | 11.04% | 12.44% | 20.56% | 7.79% | 8.88% | 16.65% |
| Net Income Growth % | 11.92% | 31.73% | 140.46% | 94.98% | -60.37% | 1025.05% | 206.68% | -77.07% | 142.79% | -92.27% | -36.5% | 160.63% | -45.65% | 664.53% | 35.05% | -15.37% | 400.21% | -16.2% | 222.11% | 1150.24% |
| Funds From Operations (FFO) | 14.12M | 32.59M | 26.66M | 13.6M | 13.06M | 26.01M | 16.57M | 11.13M | 18.16M | 9.97M | 10.84M | 19.69M | 11.72M | 27.98M | 11.8M | 12.2M | 14.99M | 10.1M | 10.24M | 12.23M |
| FFO Margin % | 33.71% | 74.22% | 64.96% | 35.5% | 34.08% | 63.39% | 42.5% | 29.51% | 48.09% | 26.56% | 28.89% | 55.53% | 32.87% | 80.23% | 33.27% | 34.99% | 43.53% | 30.18% | 31.37% | 39.72% |
| FFO Growth % | 8.09% | 25.31% | 60.95% | 22.12% | -28.1% | 160.92% | 52.85% | -43.45% | 54.94% | -64.38% | -8.18% | 61.38% | -21.8% | 177.08% | 15.28% | -0.25% | 77.85% | -1.97% | 26.86% | 65.73% |
| FFO per Share | 0.27 | 0.63 | 0.51 | 0.26 | 0.25 | 0.50 | 0.32 | 0.22 | 0.36 | 0.20 | 0.21 | 0.39 | 0.23 | 0.56 | 0.24 | 0.24 | 0.30 | 0.20 | 0.21 | 0.28 |
| FFO Payout Ratio % | 0% | 21.04% | 25.72% | 50.34% | 52.42% | 24.02% | 37.39% | 55.34% | 32.87% | 59.48% | 54.69% | 30.03% | 50.44% | 21.11% | 49.99% | 48.2% | 35.15% | 52.05% | 48.65% | 37.63% |
| EPS (Diluted) | 0.08 | 0.43 | 0.35 | 0.10 | 0.07 | 0.33 | 0.15 | 0.05 | 0.18 | 0.03 | 0.05 | 0.23 | 0.08 | 0.40 | 0.08 | 0.09 | 0.14 | 0.05 | 0.06 | 0.12 |
| EPS Growth % | 10.56% | 30.3% | 133.33% | 92.31% | -60.56% | 992.72% | 205.5% | -77.96% | 134.68% | -92.45% | -37.13% | 165.28% | -45.21% | 700% | 30.17% | -27.75% | 366.67% | -28.57% | 200% | 1100% |
| EPS (Basic) | 0.08 | 0.45 | 0.36 | 0.10 | 0.07 | 0.34 | 0.15 | 0.05 | 0.19 | 0.03 | 0.05 | 0.23 | 0.08 | 0.40 | 0.08 | 0.09 | 0.14 | 0.05 | 0.06 | 0.12 |
| Diluted Shares Outstanding | 52.77M | 51.86M | 51.86M | 51.86M | 51.86M | 51.86M | 51.3M | 51.12M | 51.11M | 51.06M | 50.64M | 50.26M | 50.16M | 50.13M | 50.13M | 50.05M | 50.31M | 49.98M | 47.83M | 44.13M |