What is Greystone Housing Impact Investors's earnings per share (EPS)?

Greystone Housing Impact Investors (GHI) reported diluted earnings per share of $-0.52 for fiscal year 2025. This represents a -168.4% 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.

Greystone Housing Impact Investors Financials

GHI

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

This page shows Greystone Housing Impact Investors (GHI) 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 GHI FY2025 2026-05-11

A leveraged asset portfolio with thin asset returns is generating cash, but reported earnings swing much harder.

In FY2025, operating cash flow was $37.5M while net income was -$7.6M, showing a clear break between cash collected and accounting profit. Because the business carried $1.5B of assets yet earned only -0.5% on them, relatively small valuation or timing changes can wipe out reported earnings without shutting off underlying cash generation.

With debt-to-equity near 3.0x in FY2025, the balance sheet leaves less owner capital to absorb volatility. That matters because equity fell from $466.9M in FY2021 to $379.6M in FY2025, so the same asset-level swings now hit a thinner cushion.

Liquidity improved even in a loss year: cash ended at $39.5M versus $14.7M a year earlier. Since financing cash flow was negative while investing cash flow turned positive, the year looks funded more by portfolio monetization than by fresh external capital, which is a different operating posture from simple balance-sheet expansion.

Financial Health Signals

Financial Profile 13/100

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 Greystone Housing Impact Investors'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.

Growth

Greystone Housing Impact Investors's revenue declined 6.4% year-over-year, from $91.3M to $85.4M. This contraction results in a growth score of 17/100.

Leverage

Greystone Housing Impact Investors has a moderate D/E ratio of 2.96. This balance of debt and equity financing earns a leverage score of 42/100.

Returns

Greystone Housing Impact Investors generates a -2.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 18/100. This is down from 5.6% the prior year.

Piotroski F-Score Weak

2/9

Greystone Housing Impact Investors passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Mixed

-4.93x

For every $1 of reported earnings, Greystone Housing Impact Investors generates $-4.93 in operating cash flow ($37.5M OCF vs -$7.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$85.4M

YoY-6.4%

5Y CAGR+9.0%

10Y CAGR+3.6%

Greystone Housing Impact Investors generated $85.4M in revenue in fiscal year 2025. This represents a decrease of 6.4% from the prior year.

EBITDA

N/A

Net Income

-$7.6M

YoY-135.7%

Greystone Housing Impact Investors reported -$7.6M in net income in fiscal year 2025. This represents a decrease of 135.7% from the prior year.

EPS (Diluted)

$-0.52

YoY-168.4%

Greystone Housing Impact Investors earned $-0.52 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 168.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$39.5M

YoY+168.7%

5Y CAGR-2.4%

10Y CAGR+8.8%

Greystone Housing Impact Investors held $39.5M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

Greystone Housing Impact Investors had 0 shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-8.9%

YoY-32.3pp

5Y CAGR-21.9pp

10Y CAGR-53.3pp

Greystone Housing Impact Investors's net profit margin was -8.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 32.3 percentage points from the prior year.

Return on Equity

-2.0%

YoY-7.6pp

5Y CAGR-3.6pp

10Y CAGR-10.5pp

Greystone Housing Impact Investors's ROE was -2.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 7.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

GHI Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$85.4M-6.4%	$91.3M-13.0%	$104.9M+29.4%	$81.1M+18.4%	$68.5M+23.3%	$55.5M
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	$19.0M-3.4%	$19.7M-3.7%	$20.4M+16.9%	$17.4M+17.7%	$14.8M+13.8%	$13.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	-$50.4M+16.1%	-$60.0M+13.1%	-$69.1M-58.6%	-$43.6M-98.5%	-$21.9M-3.4%	-$21.2M
Income Tax	$828K+2450.5%	$32K+198.6%	$11K+121.2%	-$51K-180.3%	$64K-20.3%	$80K
Net Income	-$7.6M-135.7%	$21.3M-60.5%	$54.0M-17.6%	$65.6M+72.1%	$38.1M+428.5%	$7.2M
EPS (Diluted)	$-0.52-168.4%	$0.76-63.1%	$2.06-20.2%	$2.58+68.6%	$1.53	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$21.8M+37.9%	$15.8M-27.1%	$21.7M-8.1%	$23.6M-3.0%	$24.3M+7.7%	$22.6M-7.2%	$24.3M+10.8%	$22.0M
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	$4.7M-5.4%	$4.9M+2.1%	$4.8M+3.0%	$4.7M+2.3%	$4.6M	N/A	$5.1M+6.0%	$4.8M
Operating Income	N/A	N/A	N/A	N/A	N/A	$10.1M+318.6%	-$4.6M-189.5%	$5.2M
Interest Expense	-$13.2M-38.2%	-$9.5M+27.5%	-$13.1M+7.6%	-$14.2M-5.4%	-$13.5M	N/A	-$15.5M-4.0%	-$14.9M
Income Tax	-$3K-100.3%	$835K+40836.2%	-$2K+25.8%	-$3K-1.1%	-$3K	N/A	-$2K-150.3%	-$786
Net Income	$1.3M+127.0%	-$4.9M-349.6%	$2.0M+127.8%	-$7.1M-394.3%	$2.4M	N/A	-$4.6M-189.5%	$5.2M
EPS (Diluted)	$0.01	N/A	$0.03+108.6%	$-0.35-600.0%	$0.07-82.1%	$0.39+269.6%	$-0.23-221.1%	$0.19

GHI Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.5B-4.9%	$1.6B+4.4%	$1.5B-3.4%	$1.6B+13.1%	$1.4B+17.9%	$1.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$39.5M+168.7%	$14.7M-61.2%	$37.9M-25.9%	$51.2M-25.0%	$68.3M+53.5%	$44.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.1B-6.1%	$1.2B+10.6%	$1.1B-5.8%	$1.1B+25.0%	$919.0M+27.5%	$721.1M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	$1.7M-93.7%	$26.8M+3.2%	$26.0M
Total Equity	$379.6M-1.0%	$383.4M-11.2%	$431.7M+3.2%	$418.4M-10.4%	$466.9M+2.8%	$454.2M
Retained Earnings	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
Total Assets	$1.5B-1.1%	$1.5B+1.1%	$1.5B+0.4%	$1.5B-1.5%	$1.5B-4.9%	$1.6B+2.0%	$1.5B+1.3%	$1.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$20.6M-47.8%	$39.5M+9.2%	$36.2M-23.8%	$47.5M-7.6%	$51.4M+249.5%	$14.7M-60.7%	$37.4M+9.8%	$34.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.1B-0.4%	$1.1B+2.4%	$1.1B-0.7%	$1.1B-3.6%	$1.1B-4.2%	$1.2B+4.8%	$1.1B+1.5%	$1.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$368.5M-2.9%	$379.6M-2.4%	$388.8M+3.4%	$376.2M+5.3%	$357.3M-6.8%	$383.4M-5.9%	$407.3M+1.0%	$403.3M
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

GHI Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$37.5M+108.6%	$18.0M-27.8%	$24.9M+18.0%	$21.1M-37.8%	$33.9M+114.2%	$15.8M
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	$66.3M+163.1%	-$105.2M-296.4%	$53.6M+119.2%	-$278.6M-48.6%	-$187.5M-391.5%	-$38.1M
Financing Cash Flow	-$80.3M-213.4%	$70.8M+157.4%	-$123.4M-162.3%	$198.2M+8.6%	$182.5M+78.7%	$102.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
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	-$107K-101.2%	$8.6M+3.1%	$8.4M-12.3%	$9.5M-13.0%	$11.0M+136.4%	$4.6M-5.5%	$4.9M-2.8%	$5.1M
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	-$15.8M+52.3%	-$33.0M-1248.6%	$2.9M-92.0%	$35.8M-40.9%	$60.7M+191.0%	-$66.6M-500.0%	-$11.1M+89.3%	-$104.2M
Financing Cash Flow	-$6.6M-122.3%	$29.7M+246.9%	-$20.2M+60.6%	-$51.3M-33.3%	-$38.5M-184.6%	$45.5M+1361.0%	$3.1M-96.1%	$79.1M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

GHI 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	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-8.9%-32.3pp	23.4%-28.1pp	51.5%-29.4pp	80.9%+25.2pp	55.7%+42.7pp	13.0%
Return on Equity	-2.0%-7.6pp	5.6%-6.9pp	12.5%-3.2pp	15.7%+7.5pp	8.2%+6.6pp	1.6%
Return on Assets	-0.5%-1.9pp	1.4%-2.2pp	3.6%-0.6pp	4.2%+1.4pp	2.8%+2.1pp	0.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.96-0.2	3.12+0.6	2.51+2.5	0.00-0.1	0.060.0	0.06
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	N/A	N/A	N/A	N/A	N/A	44.9%+63.9pp	-19.0%-42.6pp	23.6%
Net Margin	6.1%+37.2pp	-31.1%-40.2pp	9.1%+39.1pp	-30.0%-39.9pp	9.9%	N/A	-19.0%-42.6pp	23.6%
Return on Equity	0.4%+1.7pp	-1.3%-1.8pp	0.5%+2.4pp	-1.9%-2.6pp	0.7%	N/A	-1.1%-2.4pp	1.3%
Return on Assets	0.1%+0.4pp	-0.3%-0.5pp	0.1%+0.6pp	-0.5%-0.6pp	0.2%	N/A	-0.3%-0.6pp	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.03+0.1	2.96+0.1	2.82-0.1	2.94-0.3	3.21+0.1	3.12+0.3	2.80+0.0	2.79
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 Greystone Housing Impact Investors's annual revenue?

Greystone Housing Impact Investors (GHI) reported $85.4M in total revenue for fiscal year 2025. This represents a -6.4% 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 Greystone Housing Impact Investors's revenue growing?

Greystone Housing Impact Investors (GHI) revenue declined by 6.4% year-over-year, from $91.3M to $85.4M in fiscal year 2025.

Is Greystone Housing Impact Investors profitable?

No, Greystone Housing Impact Investors (GHI) reported a net income of -$7.6M in fiscal year 2025, with a net profit margin of -8.9%.

What is Greystone Housing Impact Investors's net profit margin?

Greystone Housing Impact Investors (GHI) had a net profit margin of -8.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Greystone Housing Impact Investors's return on equity (ROE)?

Greystone Housing Impact Investors (GHI) has a return on equity of -2.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Greystone Housing Impact Investors's operating cash flow?

Greystone Housing Impact Investors (GHI) generated $37.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Greystone Housing Impact Investors's total assets?

Greystone Housing Impact Investors (GHI) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Greystone Housing Impact Investors have outstanding?

Greystone Housing Impact Investors (GHI) had 0 shares outstanding as of fiscal year 2025.

What is Greystone Housing Impact Investors's debt-to-equity ratio?

Greystone Housing Impact Investors (GHI) had a debt-to-equity ratio of 2.96 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Greystone Housing Impact Investors's return on assets (ROA)?

Greystone Housing Impact Investors (GHI) had a return on assets of -0.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Greystone Housing Impact Investors's Piotroski F-Score?

Greystone Housing Impact Investors (GHI) has a Piotroski F-Score of 2 out of 9, indicating weak 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 Greystone Housing Impact Investors's earnings high quality?

Greystone Housing Impact Investors (GHI) has an earnings quality ratio of -4.93x, considered mixed 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.

How financially healthy is Greystone Housing Impact Investors?

Greystone Housing Impact Investors (GHI) scores 13 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.