Centerspace Financials
This page shows Centerspace (CSR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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).
A depreciation-heavy asset base keeps cash generation steadier than earnings, while debt service determines how much profit remains.
From FY2023 through FY2025, operating cash flow stayed in a tight$89.5M to$98.5M band even as net income moved from profit to loss and back again. That gap points to a depreciation-heavy asset base: FY2025 depreciation and amortization of$114.6M far exceeded net income of$17.1M , so GAAP earnings understate the cash produced by the assets.
FY2025 revenue added only
The company paid
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Centerspace'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.
Centerspace has an operating margin of 23.6%, meaning the company retains $24 of operating profit per $100 of revenue. This strong profitability earns a score of 68/100, reflecting efficient cost management and pricing power. This is up from 7.8% the prior year.
Centerspace's revenue grew a modest 4.9% year-over-year to $273.7M. This slow but positive growth earns a score of 37/100.
Centerspace carries a low D/E ratio of 1.42, meaning only $1.42 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 73/100, indicating a strong balance sheet with room for future borrowing.
Centerspace generates a 2.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 15/100. This is up from -1.5% the prior year.
Centerspace passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Centerspace generates $5.76 in operating cash flow ($98.5M OCF vs $17.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Centerspace earns $1.4 in operating income for every $1 of interest expense ($64.5M vs $44.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Centerspace generated $273.7M in revenue in fiscal year 2025. This represents an increase of 4.9% from the prior year.
Centerspace's EBITDA was $179.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 39.9% from the prior year.
Centerspace reported $17.1M in net income in fiscal year 2025. This represents an increase of 251.0% from the prior year.
Centerspace earned $1.02 per diluted share (EPS) in fiscal year 2025. This represents an increase of 180.3% from the prior year.
Cash & Balance Sheet
Centerspace held $12.8M in cash against $1.0B in long-term debt as of fiscal year 2025.
Centerspace had 17M shares outstanding in fiscal year 2025. This represents an increase of 0.3% from the prior year.
Margins & Returns
Centerspace's gross margin was 96.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.0 percentage points from the prior year.
Centerspace's operating margin was 23.6% in fiscal year 2025, reflecting core business profitability. This is up 15.7 percentage points from the prior year.
Centerspace's net profit margin was 6.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 10.6 percentage points from the prior year.
Centerspace's ROE was 2.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 3.9 percentage points from the prior year.
Capital Allocation
Centerspace spent $3.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 26.6% from the prior year.
CSR Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $65.1M-2.3% | $66.6M-6.7% | $71.4M+4.2% | $68.5M+2.2% | $67.1M+1.0% | $66.4M+2.1% | $65.0M0.0% | $65.0M |
| Cost of Revenue | $2.4M+2.4% | $2.3M-6.7% | $2.5M+4.0% | $2.4M-1.6% | $2.4M+4.2% | $2.3M+4.1% | $2.2M+0.9% | $2.2M |
| Gross Profit | $62.7M-2.5% | $64.3M-6.7% | $68.9M+4.2% | $66.2M+2.3% | $64.7M+0.9% | $64.1M+2.1% | $62.8M-0.1% | $62.8M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $6.3M-3.2% | $6.5M+30.9% | $5.0M+14.0% | $4.4M-12.3% | $5.0M+2.8% | $4.9M+18.5% | $4.1M-2.7% | $4.2M |
| Operating Income | -$5.4M+49.2% | -$10.6M-113.8% | $77.2M+1236.1% | -$6.8M-243.2% | $4.7M+66.1% | $2.9M-55.0% | $6.3M-11.7% | $7.2M |
| Interest Expense | $10.5M-9.2% | $11.5M-11.2% | $13.0M+21.1% | $10.7M+11.3% | $9.6M-1.6% | $9.8M+9.5% | $8.9M-4.1% | $9.3M |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$12.9M+30.1% | -$18.4M-134.3% | $53.8M+470.5% | -$14.5M-288.7% | -$3.7M+26.5% | -$5.1M-384.6% | -$1.0M+19.1% | -$1.3M |
| EPS (Diluted) | $-0.77 | N/A | $3.19+466.7% | $-0.87-295.5% | $-0.22 | N/A | $-0.40-110.5% | $-0.19 |
CSR Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.9B-2.0% | $1.9B-8.2% | $2.1B+4.2% | $2.0B+6.3% | $1.9B-1.1% | $1.9B+1.4% | $1.9B-0.6% | $1.9B |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $7.6M-41.1% | $12.8M-0.5% | $12.9M+4.2% | $12.4M+3.9% | $11.9M-0.9% | $12.0M-16.8% | $14.5M+0.9% | $14.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | $524K | N/A | N/A | N/A | $384K | N/A | N/A |
| Goodwill | N/A | $316K | N/A | N/A | N/A | $491K | N/A | N/A |
| Total Liabilities | $1.1B-0.8% | $1.1B-10.8% | $1.2B+3.6% | $1.2B+15.3% | $1.0B-0.2% | $1.0B+3.3% | $982.3M-0.2% | $984.6M |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $1.0B-0.5% | $1.0B-10.7% | $1.1B+3.0% | $1.1B+16.3% | $955.5M0.0% | $955.4M+3.7% | $921.3M-1.1% | $931.7M |
| Total Equity | $695.0M-3.4% | $719.2M-3.9% | $748.6M+5.4% | $710.1M+11.5% | $636.8M-15.3% | $752.0M+11.8% | $672.5M-1.2% | $680.7M |
| Retained Earnings | -$675.5M-4.0% | -$649.7M-5.1% | -$618.3M+6.2% | -$659.3M-4.3% | -$631.9M-2.7% | -$615.2M-2.9% | -$597.7M-3.2% | -$579.1M |
CSR Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $21.4M+68.6% | $12.7M-63.7% | $35.1M+38.7% | $25.3M-0.6% | $25.4M+36.2% | $18.7M-42.2% | $32.3M+41.4% | $22.9M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$5.0M-106.3% | $80.2M+39.5% | $57.4M+136.0% | -$159.6M-3166.8% | -$4.9M+52.4% | -$10.3M+14.8% | -$12.0M+37.9% | -$19.4M |
| Financing Cash Flow | -$21.8M+84.8% | -$143.0M-218.9% | -$44.9M-133.4% | $134.5M+961.1% | -$15.6M-24.6% | -$12.5M+32.1% | -$18.4M-917.1% | -$1.8M |
| Dividends Paid | $12.9M+0.4% | $12.9M-0.3% | $12.9M+0.1% | $12.9M+3.5% | $12.4M+0.2% | $12.4M+10.0% | $11.3M+1.0% | $11.2M |
| Share Buybacks | N/A | $0-100.0% | $3.5M | $0 | $0 | $0 | $0 | $0 |
CSR Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 96.3%-0.2pp | 96.5%0.0pp | 96.5%0.0pp | 96.5%+0.1pp | 96.4%-0.1pp | 96.5%-0.1pp | 96.5%-0.0pp | 96.6% |
| Operating Margin | -8.3%+7.7pp | -16.0%-124.1pp | 108.1%+118.0pp | -9.9%-17.0pp | 7.1%+2.8pp | 4.3%-5.5pp | 9.8%-1.3pp | 11.1% |
| Net Margin | -19.8%+7.9pp | -27.7%-103.0pp | 75.3%+96.5pp | -21.2%-15.6pp | -5.6%+2.1pp | -7.6%-6.0pp | -1.6%+0.4pp | -2.0% |
| Return on Equity | -1.8%+0.7pp | -2.6%-9.7pp | 7.2%+9.2pp | -2.0%-1.5pp | -0.6%+0.1pp | -0.7%-0.5pp | -0.2%+0.0pp | -0.2% |
| Return on Assets | -0.7%+0.3pp | -1.0%-3.5pp | 2.6%+3.3pp | -0.7%-0.5pp | -0.2%+0.1pp | -0.3%-0.2pp | -0.1%+0.0pp | -0.1% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 1.46+0.0 | 1.42-0.1 | 1.53-0.0 | 1.56+0.1 | 1.50+0.2 | 1.27-0.1 | 1.370.0 | 1.37 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Centerspace's annual revenue?
Centerspace (CSR) reported $273.7M in total revenue for fiscal year 2025. This represents a 4.9% 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 Centerspace's revenue growing?
Centerspace (CSR) revenue grew by 4.9% year-over-year, from $261.0M to $273.7M in fiscal year 2025.
Is Centerspace profitable?
Yes, Centerspace (CSR) reported a net income of $17.1M in fiscal year 2025, with a net profit margin of 6.3%.
What is Centerspace's EBITDA?
Centerspace (CSR) had EBITDA of $179.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Centerspace have?
As of fiscal year 2025, Centerspace (CSR) had $12.8M in cash and equivalents against $1.0B in long-term debt.
What is Centerspace's gross margin?
Centerspace (CSR) had a gross margin of 96.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Centerspace's operating margin?
Centerspace (CSR) had an operating margin of 23.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Centerspace's net profit margin?
Centerspace (CSR) had a net profit margin of 6.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Centerspace's return on equity (ROE)?
Centerspace (CSR) has a return on equity of 2.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Centerspace's operating cash flow?
Centerspace (CSR) generated $98.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Centerspace's total assets?
Centerspace (CSR) had $1.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Centerspace's debt-to-equity ratio?
Centerspace (CSR) had a debt-to-equity ratio of 1.42 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Centerspace's return on assets (ROA)?
Centerspace (CSR) had a return on assets of 0.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Centerspace's Piotroski F-Score?
Centerspace (CSR) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. 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 Centerspace's earnings high quality?
Centerspace (CSR) has an earnings quality ratio of 5.76x, considered cash-backed (high quality). 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 Centerspace cover its interest payments?
Centerspace (CSR) has an interest coverage ratio of 1.4x, 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 Centerspace?
Centerspace (CSR) scores 49 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.