Net Lease Office Financials
This page shows Net Lease Office (NLOP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Financial Health Signals
Net Lease Office passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Net Lease Office generates $-0.79 in operating cash flow ($71.9M OCF vs -$91.5M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Net Lease Office generated $142.2M in revenue in fiscal year 2024. This represents a decrease of 18.7% from the prior year.
Net Lease Office reported -$91.5M in net income in fiscal year 2024. This represents an increase of 30.6% from the prior year.
Net Lease Office earned $-6.18 per diluted share (EPS) in fiscal year 2024. This represents an increase of 31.3% from the prior year.
Net Lease Office held $25.1M in cash against $169.2M in long-term debt as of fiscal year 2024.
Net Lease Office paid $0.34 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.
Net Lease Office had 15M shares outstanding in fiscal year 2024. This represents an increase of 1.3% from the prior year.
Net Lease Office's net profit margin was -64.3% in fiscal year 2024, showing the share of revenue converted to profit. This is up 11.0 percentage points from the prior year.
NLOP Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $29.8M+2.1% | $29.2M-0.1% | $29.2M+5.3% | $27.7M-29.0% | $39.0M-11.3% | $44.0M-5.1% | $46.4M+7.6% | $43.1M |
| 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 | $1.7M-22.7% | $2.1M+18.6% | $1.8M-4.8% | $1.9M+1.0% | $1.9M-1.1% | $1.9M-46.8% | $3.6M+4.1% | $3.4M |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Interest Expense | $1.7M-62.3% | $4.4M-23.4% | $5.7M-24.6% | $7.6M-72.6% | $27.8M+33.6% | $20.8M+14.4% | $18.2M+125.7% | $8.1M |
| Income Tax | $30K-70.0% | $100K+22.0% | $82K+102.5% | -$3.2M-2274.5% | $149K-33.5% | $224K+85.1% | $121K-47.8% | $232K |
| Net Income | -$64.2M+21.3% | -$81.5M-16673.2% | $492K+101.4% | -$35.8M-387.4% | $12.5M+144.7% | -$27.8M+80.4% | -$142.1M-5240.3% | $2.8M |
| EPS (Diluted) | $-4.33+21.3% | $-5.50-18433.3% | $0.03+101.2% | $-2.41-386.9% | $0.84+144.7% | $-1.88+80.6% | $-9.71-5210.5% | $0.19 |
NLOP Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $522.6M-21.9% | $668.7M-14.7% | $784.1M-2.6% | $805.1M-22.9% | $1.0B-15.2% | $1.2B-5.6% | $1.3B+2007829130.8% | $65 |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Cash & Equivalents | $38.7M-28.5% | $54.1M+92.3% | $28.2M+12.1% | $25.1M-30.4% | $36.1M-9.2% | $39.8M+144.3% | $16.3M+1626899900.0% | $1 |
| 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 | $0 | N/A |
| Total Liabilities | $88.3M-46.3% | $164.6M-16.8% | $197.9M-9.9% | $219.7M-42.2% | $380.0M-34.5% | $580.2M-7.0% | $623.7M | $0 |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Long-Term Debt | $47.1M-59.8% | $117.2M-21.1% | $148.5M-12.2% | $169.2M-48.3% | $327.4M-36.4% | $515.2M-4.9% | $542.0M | N/A |
| Total Equity | $430.3M-14.0% | $500.0M-14.1% | $582.1M+0.2% | $581.2M-12.0% | $660.3M+2.0% | $647.2M-4.4% | $677.0M+1041552207.7% | $65 |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$239 |
NLOP Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $16.3M+39.5% | $11.7M-17.1% | $14.1M+34.7% | $10.5M-28.7% | $14.7M-44.3% | $26.4M+271.9% | $7.1M-65.6% | $20.6M |
| 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 | $39.5M+181.1% | $14.1M+62.3% | $8.7M-79.9% | $43.1M-71.4% | $150.8M+463.5% | $26.8M-17.2% | $32.3M+1656.4% | -$2.1M |
| Financing Cash Flow | -$70.9M-98.5% | -$35.7M-38.6% | -$25.8M+63.1% | -$69.9M+59.6% | -$173.1M-440.4% | -$32.0M-244.1% | $22.2M+219.7% | -$18.6M |
| Dividends Paid | N/A | $0 | $0-100.0% | $1K | $0-100.0% | $1.1M-2.6% | $1.1M | $0 |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NLOP Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| 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 | N/A | N/A | N/A |
| Net Margin | -215.4%+64.1pp | -279.5%-281.2pp | 1.7%+130.7pp | -129.1%-160.9pp | 31.9%+95.2pp | -63.3%+243.0pp | -306.3%-312.7pp | 6.4% |
| Return on Equity | N/A | N/A | 0.1% | N/A | 1.9% | N/A | N/A | 4252307.7% |
| Return on Assets | -12.3%-0.1pp | -12.2%-12.3pp | 0.1%+4.5pp | -4.4%-5.6pp | 1.2%+3.5pp | -2.3%+8.6pp | -10.9%-4252318.6pp | 4252307.7% |
| Current Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt-to-Equity | 0.11-0.1 | 0.23-0.0 | 0.26-0.0 | 0.29-0.2 | 0.50-0.3 | 0.800.0 | 0.80+0.8 | 0.00 |
| 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 Net Lease Office's annual revenue?
Net Lease Office (NLOP) reported $142.2M in total revenue for fiscal year 2024. This represents a -18.7% 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 Net Lease Office's revenue growing?
Net Lease Office (NLOP) revenue declined by 18.7% year-over-year, from $175.0M to $142.2M in fiscal year 2024.
Is Net Lease Office profitable?
No, Net Lease Office (NLOP) reported a net income of -$91.5M in fiscal year 2024, with a net profit margin of -64.3%.
What is Net Lease Office's earnings per share (EPS)?
Net Lease Office (NLOP) reported diluted earnings per share of $-6.18 for fiscal year 2024. This represents a 31.3% 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.
How much debt does Net Lease Office have?
As of fiscal year 2024, Net Lease Office (NLOP) had $25.1M in cash and equivalents against $169.2M in long-term debt.
What is Net Lease Office's net profit margin?
Net Lease Office (NLOP) had a net profit margin of -64.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Net Lease Office pay dividends?
Yes, Net Lease Office (NLOP) paid $0.34 per share in dividends during fiscal year 2024.
What is Net Lease Office's operating cash flow?
Net Lease Office (NLOP) generated $71.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Net Lease Office's total assets?
Net Lease Office (NLOP) had $805.1M in total assets as of fiscal year 2024, including both current and long-term assets.
How many shares does Net Lease Office have outstanding?
Net Lease Office (NLOP) had 15M shares outstanding as of fiscal year 2024.
What is Net Lease Office's debt-to-equity ratio?
Net Lease Office (NLOP) had a debt-to-equity ratio of 0.29 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Net Lease Office's return on assets (ROA)?
Net Lease Office (NLOP) had a return on assets of -11.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Net Lease Office's Piotroski F-Score?
Net Lease Office (NLOP) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Net Lease Office's earnings high quality?
Net Lease Office (NLOP) has an earnings quality ratio of -0.79x, 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.