Clipper Realty (CLPR) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CLPR SEC filings page.
Clipper Realty (CLPR) reported $151.5M in revenue over the twelve months to Jun 30, 2026, down 1.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue growth now masks a sharp operating-cost shock and a balance sheet financed with liabilities beyond asset value.
Revenue reached$153.2M in FY2025, but that growth did not translate into operating expansion. Gross margin fell from27.4% to2.7% , showing costs absorbed nearly all reported revenue; with operating income at only$4.2M against$53.0M of interest expense, financing costs amplified the operating deterioration.
Operating cash flow remained positive at
The capital structure is the more durable constraint: liabilities exceeded assets in FY2025, leaving negative equity of
Financial Health Signals
Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Clipper Realty's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Clipper Realty scores 19/100 on it among other REITs.
Not available for Clipper Realty, and counted as zero in the overall score.
Not available for Clipper Realty, and counted as zero in the overall score.
Clipper Realty's operating income of $4.2M covered its interest expense of $53.0M 0.08 times over in fiscal year 2025. The interest coverage axis ranks REITs on operating income against interest owed, and Clipper Realty scores 25/100 among other REITs.
AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Clipper Realty scores 12/100 on it among other REITs.
Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Clipper Realty scores 8/100 on it among other REITs.
Clipper Realty passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Clipper Realty reported a net loss of $52.3M while generating $22.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Clipper Realty earns $0.08 in operating income for every $1 of interest expense ($4.2M vs $53.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Clipper Realty generated $38.6M in revenue in Q2 2026. This represents a decrease of 1.2% from the same quarter a year earlier. Against the prior quarter it is up 1.2%.
Clipper Realty's EBITDA was $17.4M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 3.9% from the same quarter a year earlier. Against the prior quarter it is up 40.6%.
Clipper Realty reported -$6.3M in net income in Q2 2026. This represents a decrease of 362.0% from the same quarter a year earlier. Against the prior quarter it is up 43.8%.
Not reported for Q2 2026.
Cash & Balance Sheet
Clipper Realty held $37.7M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Clipper Realty's gross margin was 24.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 2.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.9 percentage points.
Clipper Realty's operating margin was 24.3% in Q2 2026, reflecting core business profitability. This is down 3.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 12.8 percentage points.
Clipper Realty's net profit margin was -16.2% in Q2 2026, showing the share of revenue converted to profit. This is down 12.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 13.0 percentage points.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
CLPR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $38.6M-1.2% | $38.1M-3.3% | $37.1M-2.6% | $37.7M+0.2% | $39.0M+4.5% | $39.4M+10.2% | $38.0M+9.1% | $37.6M+7.1% |
| Cost of Revenue | $29.0M+2.7% | $30.1M-52.2% | $29.0M+7.1% | $28.8M+7.2% | $28.2M+3.1% | $63.0M+136.0% | $27.1M+4.7% | $26.9M+3.6% |
| Gross Profit | $9.6M-11.4% | $8.0M+133.9% | $8.1M-26.5% | $8.9M-17.4% | $10.8M+8.4% | -$23.6M-359.9% | $11.0M+21.8% | $10.8M+16.8% |
| SG&A Expenses | $4.3M+11.4% | $4.1M+7.4% | $4.2M+10.9% | $3.7M+9.7% | $3.8M+10.4% | $3.8M+7.7% | $3.8M+20.1% | $3.4M+0.9% |
| Operating Income | $9.4M-13.1% | $4.4M+118.7% | $8.1M-24.7% | $8.9M-17.4% | $10.8M+8.1% | -$23.6M-359.9% | $10.7M+18.8% | $10.8M+16.8% |
| EBITDA | $17.4M-3.9% | $12.4M+177.6% | $16.4M-10.2% | $16.9M-7.3% | $18.1M+3.8% | -$15.9M-196.9% | $18.3M+10.4% | $18.2M+10.5% |
| Interest Expense | $15.7M+36.4% | $15.5M+34.9% | $16.7M+41.7% | $13.3M+12.5% | $11.5M-2.2% | $11.5M-1.8% | $11.8M-0.7% | $11.8M+2.7% |
| Income Tax | N/A | $0 | N/A | N/A | N/A | $0 | N/A | N/A |
| Net Income | -$6.3M-362.0% | -$11.1M+68.3% | -$11.3M-938.6% | -$4.6M-323.4% | -$1.4M+22.2% | -$35.1M-1216.7% | -$1.1M+62.0% | -$1.1M+53.2% |
| EPS (Basic) | -$0.19-171.4% | -$0.30+65.1% | -$0.31-520.0% | -$0.14-180.0% | -$0.07-16.7% | -$0.86-855.6% | -$0.05+44.4% | -$0.05+44.4% |
| EPS (Diluted) | N/A | -$0.30+65.1% | N/A | N/A | -$0.07 | -$0.86 | N/A | N/A |
| Diluted Shares (Avg) | N/A | 16M0.0% | N/A | N/A | 16M | 16M | N/A | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
CLPR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B-1.7% | $1.2B-2.9% | $1.2B-4.1% | $1.2B-3.8% | $1.2B-2.6% | $1.3B-0.1% | $1.3B+3.0% | $1.3B+3.8% |
| Cash & Equivalents | $37.7M+17.7% | $26.1M+22.5% | $30.8M+54.9% | $26.1M+39.9% | $32.0M+58.1% | $21.3M-2.7% | $19.9M-10.2% | $18.6M-17.1% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.3B+2.1% | $1.3B+0.5% | $1.3B+1.1% | $1.3B+0.6% | $1.3B+1.5% | $1.3B+4.1% | $1.3B+4.8% | $1.3B+5.7% |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | $1.3B+3.8% | $1.3B+5.0% | $1.3B+5.0% |
| Total Equity | -$40.1M-82.8% | -$36.3M-81.0% | -$30.7M-467.7% | -$25.0M-598.4% | -$21.9M-1133.7% | -$20.1M-7295.7% | -$5.4M-297.1% | -$3.6M-169.3% |
| Retained Earnings | -$131.2M-16.7% | -$127.3M-15.3% | -$121.5M-27.3% | -$115.7M-23.7% | -$112.4M-22.7% | -$110.4M-23.4% | -$95.5M-9.9% | -$93.6M-11.0% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.
CLPR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $14.4M+72.5% | $3.6M-46.6% | $6.1M-42.0% | $1.4M-77.4% | $8.4M-4.8% | $6.7M+6.8% | $10.5M+16.2% | $6.3M+7015.4% |
| Depreciation & Amortization | $8.0M+9.7% | $8.0M+4.5% | $8.4M+10.2% | $8.0M+7.3% | $7.3M-1.9% | $7.6M+3.5% | $7.6M+0.5% | $7.5M+2.4% |
| Stock-Based Compensation | N/A | $1.1M-5.0% | N/A | N/A | N/A | $1.1M+103.7% | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | $11.3M-46.1% | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | -$4.6M+68.6% | N/A | N/A |
| Investing Cash Flow | -$3.0M-111.0% | -$1.9M+80.1% | -$791K+93.2% | -$5.1M+66.2% | $27.6M+239.6% | -$9.7M+56.5% | -$11.7M+13.9% | -$15.0M-69.7% |
| Financing Cash Flow | -$3.5M+78.0% | -$5.1M-192.8% | -$3.8M-222.1% | -$527K-106.5% | -$15.8M-308.6% | $5.5M-72.2% | $3.1M-8.1% | $8.1M-46.8% |
| Dividends Paid | $4.7M+1.6% | $4.7M | $4.6M+4.9% | $4.6M+5.0% | $4.6M+5.0% | $0-100.0% | $4.4M+1.1% | $4.4M+1.1% |
Not reported in any period shown, so not listed: Share Buybacks.
CLPR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.9%-2.9pp | 21.0%+80.8pp | 21.8%-7.1pp | 23.6%-5.0pp | 27.8%+1.0pp | -59.9%-85.2pp | 28.8%+3.0pp | 28.6%+2.4pp |
| Operating Margin | 24.3%-3.3pp | 11.6%+71.4pp | 21.8%-6.4pp | 23.6%-5.0pp | 27.7%+0.9pp | -59.9%-85.2pp | 28.1%+2.3pp | 28.6%+2.4pp |
| Net Margin | -16.2%-12.8pp | -29.2%+59.9pp | -30.4%-27.5pp | -12.2%-9.3pp | -3.5%+1.2pp | -89.1%-81.6pp | -2.9%+5.3pp | -2.9%+3.7pp |
| Return on Assets | -0.5%-0.4pp | -0.9%+1.9pp | -0.9%-0.8pp | -0.4%-0.3pp | -0.1%0.0pp | -2.8%-2.6pp | -0.1%+0.1pp | -0.1%+0.1pp |
| Asset Turnover | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x | 0.030.0x |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | -11.7%+29.4pp | N/A | N/A |
Not reported in any period shown, so not listed: Return on Equity, Current Ratio, Debt-to-Equity.
Note: Shareholder equity is negative (-$30.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Clipper Realty CLPR | FY2025 | $153.2M | -$52.3M | -34.2% | $52.7M | 11/100 |
| Brt Apartments Corp BRT | FY2025 | $97.0M | -$11.9M | -12.3% | $272.3M | 18/100 |
| Bluerock Homes Trust Inc BHM | FY2025 | $68.7M | -$32.6M | -47.4% | $33.7M | 11/100 |
| Apartment Invt & Mgmt Co AIV | FY2025 | $138.5M | $547.2M | N/A | $371.8M | 39/100 |
| Centerspace CSR | FY2025 | $273.7M | $17.1M | 6.3% | $886.4M | 68/100 |
| Elme Communities ELME | FY2024 | $241.9M | -$13.1M | -5.4% | $150.2M | 49/100 |
Where Clipper Realty Ranks
Frequently Asked Questions
What is Clipper Realty's annual revenue?
Clipper Realty (CLPR) reported $153.2M in total revenue for fiscal year 2025. This represents a 3.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Clipper Realty's revenue growing?
Clipper Realty (CLPR) revenue grew by 3.0% year-over-year, from $148.8M to $153.2M in fiscal year 2025.
Is Clipper Realty profitable?
No, Clipper Realty (CLPR) reported a net income of -$52.3M in fiscal year 2025, with a net profit margin of -34.2%.
What is Clipper Realty's EBITDA?
Clipper Realty (CLPR) had EBITDA of $35.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Clipper Realty's gross margin?
Clipper Realty (CLPR) had a gross margin of 2.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Clipper Realty's operating margin?
Clipper Realty (CLPR) had an operating margin of 2.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Clipper Realty's net profit margin?
Clipper Realty (CLPR) had a net profit margin of -34.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Clipper Realty's operating cash flow?
Clipper Realty (CLPR) generated $22.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Clipper Realty's total assets?
Clipper Realty (CLPR) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Clipper Realty's return on assets (ROA)?
Clipper Realty (CLPR) had a return on assets of -4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Clipper Realty's P/E ratio?
Clipper Realty (CLPR) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $52.7M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Clipper Realty's price-to-sales ratio?
Clipper Realty (CLPR) trades at 0.3x sales, its market capitalization divided by revenue of $151.5M revenue, trailing 12 months to June 30, 2026. The market capitalization is $52.7M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Clipper Realty's debt-to-equity ratio negative or not reported?
Clipper Realty (CLPR) has negative shareholder equity of -$30.7M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Clipper Realty's Piotroski F-Score?
Clipper Realty (CLPR) has a Piotroski F-Score of 4 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Clipper Realty's earnings high quality?
Clipper Realty (CLPR) reported a net loss of $52.3M while generating $22.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Clipper Realty cover its interest payments?
Clipper Realty (CLPR) has an interest coverage ratio of 0.08x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Clipper Realty?
Clipper Realty (CLPR) scores 11 out of 100 on our Financial Health Score, indicating weak standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.