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Office Properties Income Trust (OPIRQ) Financials

OPIRQ
Trailing 12 months to March 31, 2026
Revenue $437.8M -8.1% YoY
Net Income -$319.5M -80.7% YoY
EPS (Diluted) -$3.79 FY2025 annual
Operating Cash Flow -$30.9M -358.8% YoY
Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 22, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the OPIRQ SEC filings page.

Office Properties Income Trust (OPIRQ) reported $437.8M in revenue over the twelve months to Mar 31, 2026, down 8.1% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 OPIRQ FY2025

Shrinking property revenue is colliding with heavier financing costs, weakening cash conversion and steadily eroding the equity cushion.

The key earnings-quality split is that 2025’s -$272M net loss was far larger than its -$6.6M operating cash flow, reflecting the offset from noncash depreciation and amortization. That gap does not signal healthy cash generation: operating cash flow had already fallen to $67M in FY2024, showing deterioration beyond the accounting presentation.

Leverage rose even as long-term debt declined: debt-to-equity moved from 2.2x to 2.7x over the latest year because equity contracted faster than debt, leaving less balance-sheet capacity to absorb losses.

Revenue contracted in FY2025 while interest expense climbed from $164M to $203M; the fixed financing burden therefore intensified as the income base weakened. Cash returned to shareholders also fell from $2.0M to $1.4M, indicating that capital allocation shifted away from the prior payout level.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Financial health score not available

Office Properties Income Trust does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial
1/7

Office Properties Income Trust passes 1 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality No Cash Backing
N/A

Office Properties Income Trust reported a net loss of $272.4M while operations used $6.6M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

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Earnings & Revenue

Revenue
$108.9M
YoY-4.2%
QoQ+3.4%

Office Properties Income Trust generated $108.9M in revenue in Q1 2026. This represents a decrease of 4.2% from the same quarter a year earlier. Against the prior quarter it is up 3.4%.

Net Income
-$93.0M
YoY-102.8%
QoQ+21.8%

Office Properties Income Trust reported -$93.0M in net income in Q1 2026. This represents a decrease of 102.8% from the same quarter a year earlier. Against the prior quarter it is up 21.8%.

EPS (Diluted)
-$1.26
YoY-90.9%

Office Properties Income Trust earned -$1.26 per diluted share (EPS) in Q1 2026. This represents a decrease of 90.9% from the same quarter a year earlier.

EBITDA

Not reported for Q1 2026.

Cash & Balance Sheet

Cash & Debt
$26.3M
YoY-58.7%
QoQ-10.8%
5Y CAGR-32.3%
10Y CAGR+5.3%

Office Properties Income Trust held $26.3M in cash as of Q1 2026; long-term debt is not reported for that period.

Shares Outstanding
74M
YoY+4.3%
QoQ0.0%
5Y CAGR+8.9%
10Y CAGR+0.4%

Office Properties Income Trust had 74M shares outstanding in Q1 2026. This represents an increase of 4.3% from the same quarter a year earlier. It is unchanged from the prior quarter.

Free Cash Flow

Not reported for Q1 2026.

Dividends Per Share

Not reported for Q1 2026.

Margins & Returns

Net Margin
-85.4%
YoY-45.1pp

Office Properties Income Trust's net profit margin was -85.4% in Q1 2026, showing the share of revenue converted to profit. This is down 45.1 percentage points from the same quarter a year earlier.

Return on Equity
-11.8%
YoY-7.7pp
QoQ+1.7pp

Office Properties Income Trust's ROE was -11.8% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is down 7.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.7 percentage points.

Gross Margin

Not reported for Q1 2026.

Operating Margin

Not reported for Q1 2026.

Capital Allocation

None of these metrics is reported for Q1 2026.

OPIRQ Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OPIRQ quarterly income statement
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Revenue$108.9M-4.2%$105.3M-10.9%$109.1M-9.5%$114.5M-7.4%$113.6M-18.5%$118.2M$120.6M$123.7M
SG&A Expenses$4.3M-15.0%$4.6M-12.8%$5.0M+0.8%$4.8M-9.0%$5.1M-10.4%$5.3M$4.9M-13.9%$5.3M-8.6%
Interest Expense$42.2M-20.9%$44.3M-6.4%$53.3M+25.1%$52.5M+36.9%$53.4M+50.5%$47.3M$42.6M+47.7%$38.3M+44.6%
Income Tax-$146K-206.6%$146K+508.3%-$261K-213.5%$94K+187.9%$137K+144.6%$24K$230K+142.1%-$107K-150.7%
Net Income-$93.0M-102.8%-$119.0M+20.0%-$66.3M-13.6%-$41.2M-154.1%-$45.9M-784.8%-$148.7M-$58.4M-198.1%$76.2M+722.2%
EPS (Basic)-$1.26-90.9%N/A-$0.90+21.1%-$0.58-137.2%-$0.66-500.0%N/A-$1.14-178.0%$1.56+724.0%
EPS (Diluted)-$1.26-90.9%N/A-$0.90+21.1%-$0.58-137.2%-$0.66-500.0%N/A-$1.14-178.0%$1.56+724.0%
Diluted Shares (Avg)74M+6.2%N/A73M+43.5%71M+46.5%69M+42.9%N/A51M+5.8%49M+0.6%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.

OPIRQ Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OPIRQ quarterly balance sheet
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Total Assets$3.5B-2.9%$3.5B-8.7%$3.5B-6.0%$3.6B-6.3%$3.6B-9.8%$3.8B-4.2%$3.7B-7.9%$3.8B-5.7%
Cash & Equivalents$26.3M-58.7%$29.5M-88.7%$44.6M+99.5%$78.2M+479.2%$63.7M+171.1%$261.3M+2021.9%$22.4M-8.2%$13.5M-46.5%
Accounts ReceivableN/AN/A$162.6M+10.9%N/AN/A$155.7M+16.8%$146.6M+18.2%$140.5M+27.0%
Total Liabilities$2.7B+8.8%$2.6B-2.3%$2.5B+2.2%$2.5B+1.0%$2.5B-9.0%$2.7B-2.4%$2.4B-10.7%$2.5B-8.2%
Long-Term DebtN/A$2.4B-5.0%N/AN/AN/A$2.5B-1.5%N/AN/A
Total Equity$788.1M-28.8%$881.0M-23.6%$999.8M-21.8%$1.1B-19.8%$1.1B-11.5%$1.2B-8.2%$1.3B-2.0%$1.3B-0.5%
Retained Earnings-$401.3M-390.6%-$308.3M-758.0%-$189.3M-267.9%-$123.0M-171.9%-$81.8M-186.1%-$35.9M-135.9%$112.7M-17.9%$171.2M+9.1%

Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities.

OPIRQ Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OPIRQ quarterly cash flow statement
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Operating Cash Flow-$52.9M-85.2%$1.8M-93.0%-$12.2M+28.6%$32.4M+1.7%-$28.6M-207.3%$25.7M-21.1%-$17.1M-181.6%$31.9M-12.3%
Depreciation & Amortization$44.1M+0.8%$44.6M-7.1%$42.8M-7.0%$43.8M-13.0%$43.7M-13.1%$48.0M$46.0M-11.9%$50.4M-2.3%
Investing Cash Flow-$15.0M-200.0%$9.7M-87.8%-$12.0M-249.7%-$10.5M+37.8%$15.0M+444.7%$79.9M+310.8%$8.0M+129.8%-$16.9M+74.4%
Financing Cash Flow$75.0M+140.5%$10.0M-92.5%-$8.6M-178.8%-$6.6M+73.4%-$185.0M-3691.7%$133.3M+1847.6%$10.9M-45.1%-$24.7M-176.4%
Dividends Paid$0-100.0%$0-100.0%$0-100.0%$709K+45.3%$698K+43.3%$556K-95.4%$502K-95.9%$488K-96.0%
Share BuybacksN/A$0-100.0%$27K-84.1%$5K-66.7%$0-100.0%$1K-66.7%$170K-27.4%$15K-65.9%

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow.

OPIRQ Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

OPIRQ quarterly financial ratios
MetricQ1'2610-QQ4'2510-QQ3'2510-QQ2'2510-QQ1'2510-QQ4'2410-KQ3'2410-QQ2'2410-Q
Net Margin-85.4%-45.1pp-113.0%-60.8%-12.4pp-36.0%-97.5pp-40.4%-36.6pp-125.8%-48.4%61.6%
Return on Equity-11.8%-7.7pp-13.5%-0.6pp-6.6%-2.1pp-3.9%-9.6pp-4.1%-3.7pp-12.9%-4.6%-3.1pp5.7%+6.7pp
Return on Assets-2.7%-1.4pp-3.4%+0.5pp-1.9%-0.3pp-1.2%-3.2pp-1.3%-1.1pp-3.9%-1.6%-1.1pp2.0%+2.3pp
Debt-to-Equity3.40+1.2x2.73+0.5x2.50+0.6x2.34+0.5x2.23+0.1x2.20+0.1x1.91-0.2x1.86-0.2x
Asset Turnover0.030.0x0.030.0x0.030.0x0.030.0x0.030.0x0.030.030.03

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.

Frequently Asked Questions

What is Office Properties Income Trust's annual revenue?

Office Properties Income Trust (OPIRQ) reported $442.6M in total revenue for fiscal year 2025. This represents a -11.8% 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 Office Properties Income Trust's revenue growing?

Office Properties Income Trust (OPIRQ) revenue declined by 11.8% year-over-year, from $502.0M to $442.6M in fiscal year 2025.

Is Office Properties Income Trust profitable?

No, Office Properties Income Trust (OPIRQ) reported a net income of -$272.4M in fiscal year 2025, with a net profit margin of -61.6%.

Office Properties Income Trust (OPIRQ) reported diluted earnings per share of -$3.79 for fiscal year 2025. This represents a -44.1% 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.

As of fiscal year 2025, Office Properties Income Trust (OPIRQ) had $29.5M in cash and equivalents against $2.4B in long-term debt.

Office Properties Income Trust (OPIRQ) had a net profit margin of -61.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Office Properties Income Trust (OPIRQ) paid $0.02 per share in dividends during fiscal year 2025.

Office Properties Income Trust (OPIRQ) has a return on equity of -30.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Office Properties Income Trust (OPIRQ) recorded an outflow of $6.6M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

Office Properties Income Trust (OPIRQ) had $3.5B in total assets as of fiscal year 2025, including both current and long-term assets.

Yes, Office Properties Income Trust (OPIRQ) spent $32K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Office Properties Income Trust (OPIRQ) had 74M shares outstanding as of fiscal year 2025.

Office Properties Income Trust (OPIRQ) had a debt-to-equity ratio of 2.73 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Office Properties Income Trust (OPIRQ) had a return on assets of -7.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Office Properties Income Trust (OPIRQ) has a Piotroski F-Score of 1 out of 7 computable signals; 2 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.

Office Properties Income Trust (OPIRQ) reported a net loss of $272.4M while operations used $6.6M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.

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