Granite Real Estate Investment Trust (GRP-UN) quarterly income statement — complete revenue, gross profit & net income history
| Metric | 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 | Q1'21 | Q4'20 |
|---|
| Revenue | 153.01M | 149.26M | 154.66M | 148.04M | 141.89M | 140.26M | 138.95M | 129.85M | 131.46M | 130.33M | 129.61M | 125.61M | 111.61M | 109.77M | 108.59M | 105.31M | 98.27M | 93.96M | 95.94M | 93.24M |
| Revenue Growth % | 7.83% | 6.42% | 11.31% | 14.01% | 7.93% | 7.62% | 7.2% | 3.37% | 17.79% | 18.73% | 19.36% | 19.28% | 13.57% | 16.82% | 13.18% | 12.95% | 11.8% | 15.99% | 22.92% | 26.8% |
| Property Operating Expenses | 25.86M | 25.87M | 29.02M | 26.9M | 22.33M | 23.49M | 24.44M | 19.79M | 22.29M | 21.76M | 22.17M | 23.2M | 17.66M | 16.95M | 17.41M | 19.02M | 13.77M | 13.63M | 14.4M | 15.74M |
| Net Operating Income (NOI) | 127.15M | 123.4M | 125.65M | 121.14M | 119.56M | 116.77M | 114.51M | 110.05M | 109.17M | 108.57M | 107.44M | 102.41M | 93.94M | 92.82M | 91.18M | 86.3M | 84.5M | 80.33M | 81.55M | 77.5M |
| NOI Margin % | 83.1% | 82.67% | 81.24% | 81.83% | 84.26% | 83.25% | 82.41% | 84.76% | 83.04% | 83.3% | 82.9% | 81.53% | 84.17% | 84.56% | 83.97% | 81.94% | 85.99% | 85.49% | 85% | 83.12% |
| Operating Expenses | 14.12M | 10.34M | 8.78M | 6.92M | 12.84M | 7.21M | 9.75M | 9.79M | 109.17M | 8.87M | 14.7M | 8.97M | 6.28M | 6.04M | 8.42M | 12.18M | 9.23M | 8.69M | 9.15M | 8.28M |
| G&A Expenses | 14.12M | 9.94M | 8.37M | 7.16M | 12.47M | 7.47M | 9.24M | 9.23M | 7.9M | 8.87M | 14.7M | 8.24M | 6.28M | 6.04M | 8.42M | 12.18M | 8.73M | 8.19M | 8.67M | 7.98M |
| EBITDA | 113.34M | 113.36M | 117.19M | 114.55M | 107.06M | 109.89M | 105.06M | 100.59M | 43.64M | 100M | 93.07M | 94.2M | 88.08M | 87.16M | 83.14M | 74.38M | 75.64M | 72M | 72.72M | 69.59M |
| EBITDA Margin % | 74.07% | 75.95% | 75.77% | 77.37% | 75.45% | 78.35% | 75.61% | 77.47% | 33.2% | 76.73% | 71.81% | 74.99% | 78.92% | 79.4% | 76.56% | 70.63% | 76.97% | 76.62% | 75.8% | 74.63% |
| Depreciation & Amortization | 305K | 305K | 314K | 324K | 332K | 338K | 295K | 326K | 310K | 307K | 329K | 424K | 419K | 385K | 370K | 269K | 360K | 360K | 331K | 357K |
| D&A / Revenue % | 0.2% | 0.2% | 0.2% | 0.22% | 0.23% | 0.24% | 0.21% | 0.25% | 0.24% | 0.24% | 0.25% | 0.34% | 0.38% | 0.35% | 0.34% | 0.26% | 0.37% | 0.38% | 0.35% | 0.38% |
| Operating Income | 113.03M | 113.06M | 116.87M | 114.22M | 106.72M | 109.55M | 104.76M | 100.26M | 0 | 99.69M | 92.74M | 93.77M | 87.66M | 86.78M | 82.77M | 74.11M | 75.28M | 71.64M | 72.39M | 69.23M |
| Operating Margin % | 73.87% | 75.74% | 75.56% | 77.15% | 75.21% | 78.11% | 75.4% | 77.22% | 0% | 76.49% | 71.56% | 74.65% | 78.55% | 79.05% | 76.22% | 70.37% | 76.6% | 76.24% | 75.46% | 74.25% |
| Interest Expense | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Coverage | 3.25x | 5.72x | 3.03x | 4.89x | 6.78x | 4.97x | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Non-Operating Income | 35.68M | -15.7M | 48.13M | 1.91M | -38.52M | 3.87M | -11.19M | 45.2M | -43.33M | 307K | 329K | 0 | 601K | 385K | 370K | 463K | -431.56M | -307.83M | -205.02M | -142.14M |
| Pretax Income | 53.52M | 106.23M | 46.09M | 89.33M | 123.81M | 84.41M | 95.21M | 33.03M | 26.09M | 68.13M | 1.77M | -149.18M | -152.66M | -172.22M | 566.22M | 413.99M | 497.58M | 371.12M | 268.16M | 201.08M |
| Pretax Margin % | 34.98% | 71.17% | 29.8% | 60.34% | 87.26% | 60.18% | 68.52% | 25.43% | 19.84% | 52.27% | 1.37% | -118.76% | -136.78% | -156.9% | 521.42% | 393.1% | 506.34% | 394.96% | 279.5% | 215.66% |
| Income Tax | -14.49M | 11.04M | 2.23M | 4.58M | 11.96M | 8.05M | 6.28M | 1.02M | -8.07M | 7.53M | -9.97M | -22.85M | -59.41M | -49.88M | 68.48M | 72.74M | 75.8M | 54.14M | 37.88M | 33.44M |
| Effective Tax Rate % | -27.08% | 10.39% | 4.84% | 5.12% | 9.66% | 9.54% | 6.6% | 3.1% | -30.94% | 11.05% | -563.33% | 15.32% | 38.92% | 28.96% | 12.09% | 17.57% | 15.23% | 14.59% | 14.13% | 16.63% |
| Net Income | 68.01M | 95M | 43.85M | 83.76M | 111.59M | 76.16M | 89.1M | 31.32M | 33.13M | 62.47M | 9.75M | -126.33M | -93.26M | -122.37M | 497.74M | 341.14M | 421.75M | 316.91M | 230.13M | 167.65M |
| Net Margin % | 44.45% | 63.64% | 28.35% | 56.58% | 78.64% | 54.3% | 64.13% | 24.12% | 25.2% | 47.93% | 7.52% | -100.57% | -83.56% | -111.48% | 458.36% | 323.93% | 429.18% | 337.27% | 239.87% | 179.81% |
| Net Income Growth % | -39.05% | 24.73% | -50.79% | 167.44% | 236.86% | 21.92% | 813.69% | 124.79% | 135.52% | 151.05% | -98.04% | -137.03% | -122.11% | -138.61% | 116.28% | 103.48% | 300.91% | 318.88% | 183.08% | 84.99% |
| Funds From Operations (FFO) | 68.31M | 95.3M | 44.16M | 84.08M | 111.92M | 76.5M | 89.4M | 31.64M | 33.44M | 62.77M | 10.08M | -125.9M | -92.84M | -121.98M | 498.11M | 341.41M | 422.11M | 317.27M | 230.46M | 168.01M |
| FFO Margin % | 44.65% | 63.85% | 28.55% | 56.8% | 78.88% | 54.54% | 64.34% | 24.37% | 25.43% | 48.16% | 7.78% | -100.23% | -83.19% | -111.13% | 458.7% | 324.19% | 429.54% | 337.66% | 240.21% | 180.19% |
| FFO Growth % | -38.96% | 24.58% | -50.6% | 165.71% | 234.73% | 21.87% | 786.8% | 125.13% | 136.01% | 151.46% | -97.98% | -136.88% | -121.99% | -138.45% | 116.13% | 103.21% | 300.16% | 317.86% | 182.66% | 84.91% |
| FFO per Share | 1.11 | 1.55 | 0.71 | 1.33 | 1.78 | 1.21 | 1.41 | 0.50 | 0.52 | 0.98 | 0.16 | -1.97 | -1.42 | -1.85 | 7.57 | 5.20 | 6.42 | 5.05 | 3.74 | 2.91 |
| FFO Payout Ratio % | 75.38% | 54.66% | 120.12% | 61.56% | 46.25% | 68.05% | 58.47% | 160.94% | 152.54% | 81.26% | 505.62% | -39.46% | -54.59% | -41.81% | 10.22% | 14.43% | 11.67% | 14.59% | 20.07% | 25.55% |
| EPS (Diluted) | 1.11 | 1.55 | 0.70 | 1.33 | 1.77 | 1.21 | 1.40 | 0.49 | 0.52 | 0.98 | 0.15 | -1.98 | -1.42 | -1.86 | 7.56 | 5.19 | 6.41 | 5.05 | 3.73 | 2.90 |
| EPS Growth % | -37.29% | 28.1% | -50% | 171.43% | 240.38% | 23.47% | 833.33% | 124.75% | 136.62% | 152.69% | -98.02% | -138.15% | -122.15% | -136.83% | 102.68% | 78.97% | 252.2% | 265.94% | 148.67% | 72.62% |
| EPS (Basic) | 1.11 | 1.56 | 0.70 | 1.34 | 1.78 | 1.21 | 1.41 | 0.49 | 0.52 | 0.98 | 0.15 | -1.98 | -1.43 | -1.86 | 7.58 | 5.19 | 6.42 | 5.05 | 3.73 | 2.90 |
| Diluted Shares Outstanding | 61.3M | 61.3M | 62.5M | 63M | 63M | 63.2M | 63.6M | 63.8M | 63.9M | 63.9M | 63.9M | 63.9M | 65.5M | 65.9M | 65.8M | 65.7M | 65.8M | 62.8M | 61.7M | 57.8M |