What is Centerspace's earnings per share (EPS)?

Centerspace (CSR) reported diluted earnings per share of $1.02 for fiscal year 2025. This represents a 180.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Centerspace Financials

CSR

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

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).

Rhea AI CSR FY2025 2026-05-04

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 4.9% versus FY2024, yet operating margin jumped to 23.6%. Because the top line barely moved, that rebound looks more like cost absorption or expense normalization than a fundamentally different demand picture.

The company paid $51.1M of dividends in FY2025 against $98.5M of operating cash flow, so the payout was funded by recurring operations rather than by reported earnings alone. But with only $12.8M of cash and $1.02B of long-term debt, liquidity depends on that steady cash stream and access to financing, not on a large cash cushion.

Financial Health Signals

Financial Health Score 65/100

Scored as: REITs peer group

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 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.

FFO Margin

FFO Growth

Leverage

Interest Cov.

AFFO Margin

Dividend Cov.

Piotroski F-Score Partial

5/8

Centerspace passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 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.

Earnings Quality Cash-Backed

5.76x

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.

Interest Coverage At Risk

1.4x

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

Export CSV

Earnings & Revenue

Revenue

$273.7M

YoY+4.9%

5Y CAGR+9.0%

10Y CAGR+11.9%

Centerspace generated $273.7M in revenue in fiscal year 2025. This represents an increase of 4.9% from the prior year.

EBITDA

$179.2M

YoY+39.9%

5Y CAGR+10.2%

10Y CAGR+7.3%

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.

Net Income

$17.1M

YoY+251.0%

5Y CAGR+31.0%

10Y CAGR-3.4%

Centerspace reported $17.1M in net income in fiscal year 2025. This represents an increase of 251.0% from the prior year.

EPS (Diluted)

$1.02

YoY+180.3%

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

Free Cash Flow

N/A

Cash & Debt

$12.8M

YoY+6.7%

5Y CAGR+100.9%

10Y CAGR-11.7%

Centerspace held $12.8M in cash against $1.0B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

17M

YoY+0.3%

5Y CAGR+5.2%

Centerspace had 17M shares outstanding in fiscal year 2025. This represents an increase of 0.3% from the prior year.

Margins & Returns

Gross Margin

96.5%

YoY-0.0pp

5Y CAGR-0.3pp

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.

Operating Margin

23.6%

YoY+15.7pp

5Y CAGR+4.6pp

10Y CAGR-26.9pp

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.

Net Margin

6.3%

YoY+10.6pp

5Y CAGR+3.8pp

10Y CAGR-20.9pp

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.

Return on Equity

2.4%

YoY+3.9pp

5Y CAGR+1.7pp

10Y CAGR-1.4pp

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

R&D Spending

N/A

Share Buybacks

$3.5M

YoY-26.6%

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.

Capital Expenditures

N/A

CSR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$273.7M+4.9%	$261.0M-0.1%	$261.3M+1.8%	$256.7M+27.3%	$201.7M+13.3%	$178.0M
Cost of Revenue	$9.6M+5.6%	$9.1M-2.4%	$9.4M-5.5%	$9.9M+13.1%	$8.8M+50.9%	$5.8M
Gross Profit	$264.0M+4.8%	$251.9M0.0%	$252.0M+2.1%	$246.8M+27.9%	$193.0M+12.1%	$172.2M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$20.9M+17.5%	$17.8M-11.3%	$20.1M+14.6%	$17.5M+8.0%	$16.2M+20.6%	$13.4M
Operating Income	$64.5M+215.2%	$20.5M-75.8%	$84.5M+509.3%	$13.9M-53.6%	$29.9M-11.7%	$33.8M
Interest Expense	$44.9M+20.4%	$37.3M+2.3%	$36.4M+11.2%	$32.8M+12.6%	$29.1M+5.6%	$27.5M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$17.1M+251.0%	-$11.3M-127.4%	$41.3M+392.9%	-$14.1M-48551.7%	-$29K-100.7%	$4.4M
EPS (Diluted)	$1.02+180.3%	$-1.27-154.7%	$2.32+271.9%	$-1.35-187.2%	$-0.47-213.3%	$-0.15

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	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.9B+0.7%	$1.9B-0.7%	$1.9B-5.3%	$2.0B+4.8%	$1.9B+32.5%	$1.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$12.8M+6.7%	$12.0M+39.4%	$8.6M-17.5%	$10.5M-66.6%	$31.3M+7876.3%	$392K
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$524K+36.5%	$384K+43.8%	$267K+23.0%	$217K-67.5%	$667K+27.5%	$523K
Goodwill	$316K-35.6%	$491K0.0%	$491K-43.3%	$866K0.0%	$866K-12.2%	$986K
Total Liabilities	$1.1B+6.5%	$1.0B+3.7%	$978.8M-8.2%	$1.1B+16.1%	$918.5M+18.5%	$774.8M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.0B+6.9%	$955.4M+4.3%	$916.0M-9.5%	$1.0B+17.7%	$859.8M	N/A
Total Equity	$719.2M-4.4%	$752.0M+5.9%	$709.8M-2.7%	$729.5M-5.5%	$772.0M+24.9%	$618.2M
Retained Earnings	-$649.7M-5.6%	-$615.2M-12.2%	-$548.3M-1.6%	-$539.4M-13.7%	-$474.3M-10.9%	-$427.7M

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	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$98.5M+0.2%	$98.2M+9.7%	$89.5M-2.7%	$92.0M+9.5%	$84.0M+37.2%	$61.2M
Capital Expenditures	N/A	N/A	$0-100.0%	$122K-90.3%	$1.3M-24.6%	$1.7M
Free Cash Flow	N/A	N/A	$89.5M-2.6%	$91.9M+11.0%	$82.8M+39.0%	$59.6M
Investing Cash Flow	-$26.9M+47.0%	-$50.7M-142.2%	$120.2M+175.1%	-$160.1M+40.1%	-$267.2M-62.0%	-$165.0M
Financing Cash Flow	-$69.1M-58.1%	-$43.7M+79.4%	-$212.4M-613.3%	$41.4M-80.7%	$214.5M+230.4%	$64.9M
Dividends Paid	$51.1M+11.5%	$45.8M+4.7%	$43.7M-1.6%	$44.5M+15.5%	$38.5M+9.8%	$35.0M
Share Buybacks	$3.5M-26.6%	$4.7M-59.2%	$11.5M-60.3%	$29.1M	$0	$0

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	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	96.5%-0.0pp	96.5%+0.1pp	96.4%+0.3pp	96.2%+0.5pp	95.7%-1.1pp	96.7%
Operating Margin	23.6%+15.7pp	7.8%-24.5pp	32.3%+26.9pp	5.4%-9.4pp	14.8%-4.2pp	19.0%
Net Margin	6.3%+10.6pp	-4.3%-20.1pp	15.8%+21.3pp	-5.5%-5.5pp	-0.0%-2.5pp	2.5%
Return on Equity	2.4%+3.9pp	-1.5%-7.3pp	5.8%+7.8pp	-1.9%-1.9pp	0.0%-0.7pp	0.7%
Return on Assets	0.9%+1.5pp	-0.6%-2.7pp	2.1%+2.8pp	-0.7%-0.7pp	0.0%-0.3pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.42+0.1	1.27-0.0	1.29-0.1	1.39+0.3	1.11-0.1	1.25
FCF Margin	N/A	N/A	34.3%-1.5pp	35.8%-5.2pp	41.0%+7.6pp	33.5%

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.

Does Centerspace buy back shares?

Yes, Centerspace (CSR) spent $3.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Centerspace have outstanding?

Centerspace (CSR) had 17M shares outstanding as of fiscal year 2025.

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 8 computable signals; 1 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 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 65 out of 100 on our Financial Health Score, indicating strong 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.