What is First Real Estate Invt Tr N J's earnings per share (EPS)?

First Real Estate Invt Tr N J (FREVS) reported diluted earnings per share of $0.47 for fiscal year 2025. This represents a -77.9% 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.

First Real Estate Invt Tr N J Financials

FREVS

Source SEC Filings (10-K/10-Q) Updated Jan 31, 2026 Currency USD FYE October

This page shows First Real Estate Invt Tr N J (FREVS) 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 FREVS FY2025 2026-04-22

Stable operating earnings sit on top of a debt-heavy balance sheet, while reported profit and cash swing more than revenue.

Across FY2023-FY2025, revenue barely moved and operating income stayed near $15M, but net income and operating cash flow swung sharply year to year. That combination points to a stable operating base with volatile earnings quality: what changes most is not the core revenue engine, but items below operating profit and the timing of cash receipts and payments.

Leverage is still central to how the business is financed: FY2025 liabilities were about $123.6M against equity of $34.2M, so creditors fund most of the asset base. The notable shift is direction, not destination, because debt-to-equity eased from 5.6x in FY2023 to 3.5x in FY2025 as equity rebuilt.

Cash rose to $18.5M in FY2025 even though operating cash flow fell to $6.2M, so liquidity improved because of non-operating cash sources rather than stronger underlying cash generation. In a creditor-funded structure, that means the year’s breathing room came from balance-sheet moves and investing inflows, not from a step-change in recurring cash production.

Financial Health Signals

Financial Profile 37/100

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 First Real Estate Invt Tr N J'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.

Profitability

100

First Real Estate Invt Tr N J has an operating margin of 51.7%, meaning the company retains $52 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 52.5% the prior year.

Growth

First Real Estate Invt Tr N J's revenue grew a modest 2.2% year-over-year to $29.3M. This slow but positive growth earns a score of 36/100.

Leverage

First Real Estate Invt Tr N J has a moderate D/E ratio of 3.52. This balance of debt and equity financing earns a leverage score of 30/100.

Returns

First Real Estate Invt Tr N J's ROE of 10.3% shows moderate profitability relative to equity, earning a score of 56/100. This is down from 47.5% the prior year.

Piotroski F-Score Neutral

4/9

First Real Estate Invt Tr N J passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.78x

For every $1 of reported earnings, First Real Estate Invt Tr N J generates $1.78 in operating cash flow ($6.2M OCF vs $3.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate

2.1x

First Real Estate Invt Tr N J earns $2.1 in operating income for every $1 of interest expense ($15.2M vs $7.3M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue

$29.3M

YoY+2.2%

5Y CAGR-11.1%

First Real Estate Invt Tr N J generated $29.3M in revenue in fiscal year 2025. This represents an increase of 2.2% from the prior year.

EBITDA

$18.1M

YoY+0.6%

5Y CAGR+5.2%

10Y CAGR-1.3%

First Real Estate Invt Tr N J's EBITDA was $18.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 0.6% from the prior year.

Net Income

$3.5M

YoY-77.9%

5Y CAGR-29.8%

10Y CAGR+2.9%

First Real Estate Invt Tr N J reported $3.5M in net income in fiscal year 2025. This represents a decrease of 77.9% from the prior year.

EPS (Diluted)

$0.47

YoY-77.9%

5Y CAGR-30.7%

First Real Estate Invt Tr N J earned $0.47 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 77.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$18.5M

YoY+55.5%

5Y CAGR-14.2%

10Y CAGR+3.5%

First Real Estate Invt Tr N J held $18.5M in cash against $120.4M in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.36

YoY-57.6%

10Y CAGR-11.3%

First Real Estate Invt Tr N J paid $0.36 per share in dividends in fiscal year 2025. This represents a decrease of 57.6% from the prior year.

Shares Outstanding

YoY+0.1%

5Y CAGR+1.7%

10Y CAGR+1.1%

First Real Estate Invt Tr N J had 7M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

51.7%

YoY-0.8pp

5Y CAGR+44.6pp

First Real Estate Invt Tr N J's operating margin was 51.7% in fiscal year 2025, reflecting core business profitability. This is down 0.8 percentage points from the prior year.

Net Margin

12.0%

YoY-43.3pp

5Y CAGR-27.0pp

First Real Estate Invt Tr N J's net profit margin was 12.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 43.3 percentage points from the prior year.

Return on Equity

10.3%

YoY-37.3pp

5Y CAGR-47.4pp

10Y CAGR-32.7pp

First Real Estate Invt Tr N J's ROE was 10.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 37.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

FREVS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$29.3M+2.2%	$28.7M+1.2%	$28.3M-9.4%	$31.3M-37.8%	$50.3M-4.6%	$52.7M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.9M-34.6%	$4.4M+4.1%	$4.2M-15.2%	$5.0M-3.7%	$5.2M+36.0%	$3.8M
Operating Income	$15.2M+0.8%	$15.1M+2.5%	$14.7M-8.0%	$16.0M+18.3%	$13.5M+259.1%	$3.8M
Interest Expense	$7.3M-0.4%	$7.3M-5.3%	$7.7M-4.3%	$8.1M-34.3%	$12.3M-13.1%	$14.1M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$3.5M-77.9%	$15.9M+1985.8%	$760K-98.3%	$46.0M+4861.4%	$927K-95.5%	$20.6M
EPS (Diluted)	$0.47-77.9%	$2.13+2030.0%	$0.10-98.4%	$6.45+4861.5%	$0.13-95.6%	$2.94

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$7.5M-0.6%	$7.5M+4.2%	$7.2M-0.2%	$7.3M-0.2%	$7.3M+0.2%	$7.3M+1.5%	$7.1M-1.8%	$7.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$713K	N/A	$624K-21.1%	$791K-6.4%	$845K	N/A	$929K-8.5%	$1.0M
Operating Income	$3.8M	N/A	$3.7M-4.0%	$3.8M+7.3%	$3.6M	N/A	$3.9M+2.4%	$3.8M
Interest Expense	$1.9M	N/A	$1.8M-2.3%	$1.9M-1.2%	$1.9M	N/A	$1.8M+3.2%	$1.8M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$943K-16.0%	$1.1M+27.6%	$879K-1.7%	$894K+45.6%	$614K-41.0%	$1.0M-93.0%	$14.8M+2675.0%	$533K
EPS (Diluted)	$0.13-13.3%	$0.15+25.0%	$0.120.0%	$0.12+50.0%	$0.08-46.7%	$0.15-92.4%	$1.98+2728.6%	$0.07

FREVS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$149.0M-5.0%	$156.9M+4.8%	$149.7M-9.0%	$164.5M-27.7%	$227.5M-36.1%	$355.9M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$18.5M+55.5%	$11.9M-13.0%	$13.7M-63.2%	$37.2M-61.0%	$95.4M+139.9%	$39.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$243K-40.1%	$406K	N/A	N/A	$754K-56.0%	$1.7M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$123.6M-5.8%	$131.3M-1.3%	$133.0M-5.9%	$141.3M-2.8%	$145.4M-55.1%	$323.9M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$120.4M	N/A	$129.2M-6.2%	$137.8M+1.0%	$136.5M-55.2%	$304.7M
Total Equity	$34.2M+2.6%	$33.4M+44.4%	$23.1M-13.2%	$26.6M-67.8%	$82.6M+132.0%	$35.6M
Retained Earnings	$1.6M+178.9%	$558K+105.7%	-$9.9M-55.6%	-$6.3M-110.9%	$58.0M	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$149.0M-0.6%	$149.9M-0.2%	$150.2M-3.8%	$156.2M-0.4%	$156.9M-3.3%	$162.3M-1.7%	$165.0M+11.1%	$148.5M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$18.5M+3.2%	$17.9M+22.7%	$14.6M+27.7%	$11.4M-3.9%	$11.9M-20.2%	$14.9M-49.3%	$29.4M+140.8%	$12.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$243K+20.9%	$201K-34.5%	$307K-56.8%	$711K+75.1%	$406K-18.5%	$498K+25.4%	$397K	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$123.6M-0.4%	$124.2M-0.4%	$124.7M-4.6%	$130.7M-0.4%	$131.3M-3.5%	$136.1M+2.2%	$133.2M+0.9%	$132.0M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$120.4M-0.3%	$120.8M	N/A	N/A	N/A	N/A	$128.4M	N/A
Total Equity	$34.2M+0.5%	$34.0M+0.9%	$33.7M+0.6%	$33.5M+0.6%	$33.4M0.0%	$33.4M-11.3%	$37.6M+59.2%	$23.6M
Retained Earnings	$1.6M+14.4%	$1.4M+38.1%	$985K+15.3%	$854K+53.0%	$558K+3.1%	$541K-88.6%	$4.7M+148.8%	-$9.7M

FREVS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$6.2M-69.0%	$20.2M+652.1%	$2.7M-63.3%	$7.3M-40.1%	$12.2M+214.4%	$3.9M
Capital Expenditures	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
Investing Cash Flow	$11.5M+289.0%	-$6.1M+75.9%	-$25.3M-110.1%	$249.7M+14033.8%	-$1.8M+44.5%	-$3.2M
Financing Cash Flow	-$15.5M-17.4%	-$13.2M+24.7%	-$17.5M+92.6%	-$237.6M-2079.6%	-$10.9M-200.1%	-$3.6M
Dividends Paid	$7.2M+380.7%	$1.5M-89.1%	$13.7M-74.4%	$53.5M+5112.8%	$1.0M-24.3%	$1.4M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$1.3M-42.0%	$2.3M+39.3%	$1.7M+124.2%	$743K-51.1%	$1.5M+739.2%	$181K-99.0%	$18.5M+3124.3%	$573K
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	$911K-59.4%	$2.2M-69.2%	$7.3M+4341.5%	$164K-91.1%	$1.9M+114.6%	-$12.7M-3212.0%	-$383K+14.9%	-$450K
Financing Cash Flow	-$1.7M-24.5%	-$1.4M+79.4%	-$6.6M-411.4%	-$1.3M+79.4%	-$6.2M-208.6%	-$2.0M-92.8%	-$1.1M+31.3%	-$1.5M
Dividends Paid	$747K-0.1%	$748K+25.1%	$598K+0.2%	$597K-88.6%	$5.2M+1296.8%	$374K+0.3%	$373K+0.3%	$372K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FREVS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	51.7%-0.8pp	52.5%+0.7pp	51.8%+0.7pp	51.1%+24.2pp	26.9%+19.7pp	7.1%
Net Margin	12.0%-43.3pp	55.3%+52.6pp	2.7%-144.4pp	147.1%+145.2pp	1.8%-37.1pp	39.0%
Return on Equity	10.3%-37.3pp	47.5%+44.2pp	3.3%-169.7pp	172.9%+171.8pp	1.1%-56.6pp	57.7%
Return on Assets	2.4%-7.7pp	10.1%+9.6pp	0.5%-27.4pp	28.0%+27.5pp	0.4%-5.4pp	5.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.52-0.4	3.94-1.7	5.59+0.4	5.18+3.5	1.65-6.9	8.55
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	50.9%	N/A	50.6%-2.0pp	52.6%+3.7pp	49.0%	N/A	54.0%+2.2pp	51.7%
Net Margin	12.6%-2.3pp	14.9%+2.7pp	12.1%-0.2pp	12.3%+3.9pp	8.5%-5.9pp	14.3%-192.6pp	207.0%+199.6pp	7.3%
Return on Equity	2.8%-0.5pp	3.3%+0.7pp	2.6%-0.1pp	2.7%+0.8pp	1.8%-1.3pp	3.1%-36.2pp	39.3%+37.1pp	2.3%
Return on Assets	0.6%-0.1pp	0.8%+0.2pp	0.6%+0.0pp	0.6%+0.2pp	0.4%-0.3pp	0.6%-8.3pp	9.0%+8.6pp	0.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.52-0.0	3.55-0.1	3.70-0.2	3.90-0.0	3.94-0.1	4.08+0.7	3.41-2.2	5.58
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 First Real Estate Invt Tr N J's annual revenue?

First Real Estate Invt Tr N J (FREVS) reported $29.3M in total revenue for fiscal year 2025. This represents a 2.2% 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 First Real Estate Invt Tr N J's revenue growing?

First Real Estate Invt Tr N J (FREVS) revenue grew by 2.2% year-over-year, from $28.7M to $29.3M in fiscal year 2025.

Is First Real Estate Invt Tr N J profitable?

Yes, First Real Estate Invt Tr N J (FREVS) reported a net income of $3.5M in fiscal year 2025, with a net profit margin of 12.0%.

What is First Real Estate Invt Tr N J's EBITDA?

First Real Estate Invt Tr N J (FREVS) had EBITDA of $18.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does First Real Estate Invt Tr N J have?

As of fiscal year 2025, First Real Estate Invt Tr N J (FREVS) had $18.5M in cash and equivalents against $120.4M in long-term debt.

What is First Real Estate Invt Tr N J's operating margin?

First Real Estate Invt Tr N J (FREVS) had an operating margin of 51.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is First Real Estate Invt Tr N J's net profit margin?

First Real Estate Invt Tr N J (FREVS) had a net profit margin of 12.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does First Real Estate Invt Tr N J pay dividends?

Yes, First Real Estate Invt Tr N J (FREVS) paid $0.36 per share in dividends during fiscal year 2025.

What is First Real Estate Invt Tr N J's return on equity (ROE)?

First Real Estate Invt Tr N J (FREVS) has a return on equity of 10.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is First Real Estate Invt Tr N J's operating cash flow?

First Real Estate Invt Tr N J (FREVS) generated $6.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are First Real Estate Invt Tr N J's total assets?

First Real Estate Invt Tr N J (FREVS) had $149.0M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does First Real Estate Invt Tr N J have outstanding?

First Real Estate Invt Tr N J (FREVS) had 7M shares outstanding as of fiscal year 2025.

What is First Real Estate Invt Tr N J's debt-to-equity ratio?

First Real Estate Invt Tr N J (FREVS) had a debt-to-equity ratio of 3.52 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is First Real Estate Invt Tr N J's return on assets (ROA)?

First Real Estate Invt Tr N J (FREVS) had a return on assets of 2.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is First Real Estate Invt Tr N J's Piotroski F-Score?

First Real Estate Invt Tr N J (FREVS) has a Piotroski F-Score of 4 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 First Real Estate Invt Tr N J's earnings high quality?

First Real Estate Invt Tr N J (FREVS) has an earnings quality ratio of 1.78x, 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 First Real Estate Invt Tr N J cover its interest payments?

First Real Estate Invt Tr N J (FREVS) has an interest coverage ratio of 2.1x, meaning it can adequately 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 First Real Estate Invt Tr N J?

First Real Estate Invt Tr N J (FREVS) scores 37 out of 100 on our Financial Profile, indicating weak 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.