Belpointe PREP, LLC (OZ) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the OZ SEC filings page.
Belpointe PREP, LLC (OZ) reported $15.0M in revenue over the twelve months to Jun 30, 2026, up 164.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
The business is scaling its asset base with heavier debt, while larger losses and cash outflows deepen its financing dependence.
From FY2024 to FY2025, total assets increased to$564.2M while total liabilities rose to$289.0M . Equity fell to$275.2M , indicating that expansion was funded more by borrowing than by accumulated profits.
FY2025 combined a $40.0M net loss with operating cash flow of
The debt-to-equity ratio rose from 0.6x in FY2024 to 0.9x in FY2025, while interest expense reached
Financial Health Signals
Scored against emerging companies 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 Belpointe PREP, LLC'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.
Belpointe PREP, LLC held $24.3M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $25.2M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Belpointe PREP, LLC scores 32/100 among other emerging companies.
Not available for Belpointe PREP, LLC, and counted as zero in the overall score.
Not available for Belpointe PREP, LLC, and counted as zero in the overall score.
Belpointe PREP, LLC reported revenue of $9.2M in fiscal year 2025, against $2.7M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Belpointe PREP, LLC scores 86/100 among other emerging companies.
Belpointe PREP, LLC's operations used $25.2M of cash in fiscal year 2025, against $13.7M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Belpointe PREP, LLC scores 9/100 among other emerging companies.
Belpointe PREP, LLC's cash, cash equivalents and investments came to $24.3M at the end of fiscal year 2025, against $289.0M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Belpointe PREP, LLC scores 15/100 among other emerging companies.
Belpointe PREP, LLC passes 2 of 6 computable financial strength tests (3 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), both operating efficiency signals pass.
Belpointe PREP, LLC reported a net loss of $40.0M while operations used $25.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Belpointe PREP, LLC generated $5.4M in revenue in Q2 2026. This represents an increase of 168.1% from the same quarter a year earlier. Against the prior quarter it is up 26.7%.
Belpointe PREP, LLC reported -$9.2M in net income in Q2 2026. This represents a decrease of 21.2% from the same quarter a year earlier. Against the prior quarter it is up 13.3%.
Belpointe PREP, LLC earned -$2.37 per diluted share (EPS) in Q2 2026. This represents a decrease of 15.0% from the same quarter a year earlier. Against the prior quarter it is up 13.8%.
Not reported for Q2 2026.
Cash & Balance Sheet
Belpointe PREP, LLC held $15.6M in cash against $279.1M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Belpointe PREP, LLC's ROE was -3.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
None of these metrics is reported for Q2 2026.
OZ 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.4M+168.1% | $4.2M+143.5% | $3.1M+180.1% | $2.4M+177.0% | $2.0M+421.4% | $1.7M+416.0% | $1.1M+114.1% | $860K+83.8% |
| SG&A Expenses | $1.2M+1.9% | $1.8M+11.1% | $2.1M+43.1% | $1.3M+41.7% | $1.2M+0.3% | $1.6M+2.9% | $1.4M-22.6% | $921K-37.9% |
| Interest Expense | $5.6M+94.4% | $5.3M+21.3% | $5.4M+26.4% | $4.8M+45.5% | $2.9M+68.2% | $4.4M+504.4% | $4.2M | $3.3M |
| Net Income | -$9.2M-21.2% | -$10.7M-23.7% | -$11.7M-41.8% | -$12.1M-75.1% | -$7.6M-61.6% | -$8.6M-116.5% | -$8.2M-97.0% | -$6.9M-111.0% |
| EPS (Basic) | -$2.37-15.0% | -$2.75-17.0% | -$3.08-36.3% | -$3.21-68.9% | -$2.06-58.5% | -$2.35-113.6% | -$2.26-93.2% | -$1.90-106.5% |
| EPS (Diluted) | -$2.37-15.0% | -$2.75-17.0% | -$3.08-36.3% | -$3.21-68.9% | -$2.06-58.5% | -$2.35-113.6% | -$2.26-93.2% | -$1.90-106.5% |
| Diluted Shares (Avg) | 4M+5.6% | 4M+5.8% | N/A | 4M+3.7% | 4M+1.8% | 4M+0.9% | N/A | 4M+1.7% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Income Tax.
OZ 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $561.8M+0.9% | $565.7M+5.3% | $564.2M+9.0% | $570.8M+15.2% | $556.8M+16.9% | $537.4M+19.2% | $517.6M+35.5% | $495.7M+37.2% |
| Cash & Equivalents | $15.6M-37.3% | $19.6M-14.7% | $24.3M-1.6% | $29.6M+23.6% | $25.0M+0.9% | $23.0M-21.4% | $24.7M+22.9% | $24.0M+52.4% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $304.4M+14.8% | $299.6M+24.0% | $289.0M+35.3% | $286.7M+55.2% | $265.0M+66.4% | $241.6M+87.1% | $213.5M+274.3% | $184.7M+428.1% |
| Long-Term Debt | $279.1M+22.2% | $275.5M+35.5% | $260.6M+47.2% | $251.4M+74.4% | $228.4M+90.5% | $203.3M+133.9% | $177.0M+799.6% | $144.1M |
| Total Equity | $257.4M-11.8% | $266.1M-10.0% | $275.2M-9.5% | $284.1M-8.7% | $291.8M-7.9% | $295.7M-8.1% | $304.1M-6.5% | $311.0M-4.7% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities, Retained Earnings.
OZ 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.9M-62.0% | -$6.1M+7.7% | -$10.2M-105.1% | -$6.0M-79.3% | -$2.4M-293.7% | -$6.6M+0.2% | -$5.0M-192.5% | -$3.3M-82.7% |
| Depreciation & Amortization | $3.1M+66.0% | $3.8M+53.4% | $3.7M+58.4% | $1.9M+28.5% | $1.9M+190.5% | $2.4M+543.4% | $2.4M+516.2% | $1.5M+201.9% |
| Investing Cash Flow | -$1.0M+95.6% | -$15.3M+26.0% | -$5.9M+78.3% | -$11.8M+62.4% | -$23.6M+43.1% | -$20.6M+45.5% | -$27.3M+37.8% | -$31.5M+36.5% |
| Financing Cash Flow | $3.7M-86.9% | $16.0M-38.4% | $9.0M-73.1% | $23.9M-12.1% | $28.2M-15.0% | $25.9M-58.9% | $33.6M+13.9% | $27.1M+2603.4% |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.
OZ 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.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -172.2% | -251.8% | -380.8% | -509.3% | -381.0% | -495.6% | -752.0% | -805.6% |
| Return on Equity | -3.6%-1.0pp | -4.0%-1.1pp | -4.2%-1.5pp | -4.3%-2.0pp | -2.6%-1.1pp | -2.9%-1.7pp | -2.7%-1.4pp | -2.2%-1.2pp |
| Return on Assets | -1.7%-0.3pp | -1.9%-0.3pp | -2.1%-0.5pp | -2.1%-0.7pp | -1.4%-0.4pp | -1.6%-0.7pp | -1.6%-0.5pp | -1.4%-0.5pp |
| Debt-to-Equity | 1.08+0.3x | 1.04+0.3x | 0.95+0.4x | 0.89+0.4x | 0.78+0.4x | 0.69+0.4x | 0.58+0.5x | 0.46+0.4x |
| Asset Turnover | 0.010.0x | 0.010.0x | 0.010.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x | 0.000.0x |
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.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Belpointe PREP, LLC OZ | FY2025 | $9.2M | -$40.0M | N/A | $148.4M | 24/100 |
| Logistic Properties of the Americas LPA | FY2025 | $50.1M | $16.1M | 32.1% | $87.5M | 31/100 |
| Alset Inc. AEI | FY2025 | $4.5M | -$47.4M | N/A | $22.5M | 28/100 |
| AMREP Corporation AXR | FY2026 | $52.8M | $10.4M | 19.7% | $107.1M | 50/100 |
| JFB Construction Holdings JFB | FY2025 | $30.5M | -$5.3M | -17.3% | $100.0M | 55/100 |
Where Belpointe PREP, LLC Ranks
Frequently Asked Questions
What is Belpointe PREP, LLC's annual revenue?
Belpointe PREP, LLC (OZ) reported $9.2M in total revenue for fiscal year 2025. This represents a 243.4% 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 Belpointe PREP, LLC's revenue growing?
Belpointe PREP, LLC (OZ) revenue grew by 243.4% year-over-year, from $2.7M to $9.2M in fiscal year 2025.
Is Belpointe PREP, LLC profitable?
No, Belpointe PREP, LLC (OZ) reported a net income of -$40.0M in fiscal year 2025.
How much debt does Belpointe PREP, LLC have?
As of fiscal year 2025, Belpointe PREP, LLC (OZ) had $24.3M in cash and equivalents against $260.6M in long-term debt.
What is Belpointe PREP, LLC's return on equity (ROE)?
Belpointe PREP, LLC (OZ) has a return on equity of -14.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Belpointe PREP, LLC's operating cash flow?
Belpointe PREP, LLC (OZ) recorded an outflow of $25.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Belpointe PREP, LLC's total assets?
Belpointe PREP, LLC (OZ) had $564.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Belpointe PREP, LLC's debt-to-equity ratio?
Belpointe PREP, LLC (OZ) had a debt-to-equity ratio of 0.95 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Belpointe PREP, LLC's return on assets (ROA)?
Belpointe PREP, LLC (OZ) had a return on assets of -7.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Belpointe PREP, LLC's P/E ratio?
Belpointe PREP, LLC (OZ) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $148.4M as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Belpointe PREP, LLC's price-to-sales ratio?
Belpointe PREP, LLC (OZ) trades at 9.9x sales, its market capitalization divided by revenue of $15.0M revenue, trailing 12 months to June 30, 2026. The market capitalization is $148.4M as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Belpointe PREP, LLC's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Belpointe PREP, LLC (OZ) held $24.3M in cash, cash equivalents and investments, and reported an operating cash outflow of $25.2M over that year. Dividing the one by the other, the reported balance equals about 12 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Belpointe PREP, LLC's Piotroski F-Score?
Belpointe PREP, LLC (OZ) has a Piotroski F-Score of 2 out of 6 computable signals; 3 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 Belpointe PREP, LLC's earnings high quality?
Belpointe PREP, LLC (OZ) reported a net loss of $40.0M while operations used $25.2M 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.
How financially healthy is Belpointe PREP, LLC?
Belpointe PREP, LLC (OZ) scores 24 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), 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.