Seritage Growth Pptys Financials

SRG

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Seritage Growth Pptys (SRG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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

Piotroski F-Score Weak

2/9

Seritage Growth Pptys passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.35x

For every $1 of reported earnings, Seritage Growth Pptys generates $0.35 in operating cash flow (-$53.5M OCF vs -$153.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Revenue

$17.6M

YoY-15.2%

5Y CAGR-36.3%

Seritage Growth Pptys generated $17.6M in revenue in fiscal year 2024. This represents a decrease of 15.2% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$153.5M

YoY+0.9%

Seritage Growth Pptys reported -$153.5M in net income in fiscal year 2024. This represents an increase of 0.9% from the prior year.

EPS (Diluted)

$-2.82

YoY+1.1%

Seritage Growth Pptys earned $-2.82 per diluted share (EPS) in fiscal year 2024. This represents an increase of 1.1% from the prior year.

Cash & Debt

$85.2M

YoY-36.4%

5Y CAGR-9.4%

Seritage Growth Pptys held $85.2M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-871.3%

YoY-125.8pp

5Y CAGR-836.0pp

Seritage Growth Pptys's net profit margin was -871.3% in fiscal year 2024, showing the share of revenue converted to profit. This is down 125.8 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

SRG Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$17.6M-15.2%	$20.8M-80.6%	$107.1M-8.3%	$116.7M+0.2%	$116.5M-30.9%	$168.6M
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	$30.0M-34.7%	$46.0M-3.5%	$47.6M+13.6%	$41.9M+45.4%	$28.8M-26.3%	$39.2M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$25.0M-44.0%	$44.6M-48.6%	$86.7M-19.7%	$108.0M+18.2%	$91.3M-3.4%	$94.5M
Income Tax	$1.6M+4068.4%	$38K-91.8%	$466K+137.8%	$196K-22.2%	$252K+28.6%	$196K
Net Income	-$153.5M+0.9%	-$154.9M-109.5%	-$73.9M-162.7%	-$28.1M+73.2%	-$105.0M-76.8%	-$59.4M
EPS (Diluted)	$-2.82+1.1%	$-2.85-79.2%	$-1.59-103.8%	$-0.78+72.8%	$-2.87-62.1%	$-1.77

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$4.8M+2.8%	$4.7M+1.2%	$4.6M+5.0%	$4.4M+3.9%	$4.2M-27.0%	$5.8M-37.0%	$9.2M+81.6%	$5.0M
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	$4.9M-20.3%	$6.2M-60.7%	$15.7M+131.6%	$6.8M-1.4%	$6.9M-25.2%	$9.2M-41.2%	$15.6M+94.8%	$8.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$5.3M+2.9%	$5.1M-1.7%	$5.2M-7.1%	$5.6M-10.4%	$6.3M-10.4%	$7.0M-0.9%	$7.1M-27.5%	$9.8M
Income Tax	$75K-34.8%	$115K+160.5%	-$190K-1683.3%	$12K-99.2%	$1.5M+13300.0%	$11K	$0-100.0%	$89K
Net Income	-$12.4M+56.4%	-$28.5M-28.4%	-$22.2M-95.6%	-$11.4M+88.8%	-$101.2M-433.2%	-$19.0M-615.3%	$3.7M+508.4%	-$902K
EPS (Diluted)	$-0.24+54.7%	$-0.53-26.2%	$-0.42-82.6%	$-0.23+87.4%	$-1.82-405.6%	$-0.36-820.0%	$0.05+225.0%	$-0.04

SRG Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$677.8M-30.4%	$973.9M-47.1%	$1.8B-23.7%	$2.4B-8.9%	$2.6B-3.7%	$2.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$85.2M-36.4%	$134.0M+0.4%	$133.5M+25.2%	$106.6M-25.8%	$143.7M+3.2%	$139.3M
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	$272.0M-33.8%	$410.7M-63.3%	$1.1B-28.7%	$1.6B-11.1%	$1.8B+3.5%	$1.7B
Current Liabilities	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
Total Equity	$404.5M-28.0%	$562.0M-22.0%	$720.5M+4.8%	$687.7M+6.0%	$649.0M-11.3%	$731.4M
Retained Earnings	-$958.8M-19.8%	-$800.3M-24.9%	-$640.5M-15.7%	-$553.8M-4.8%	-$528.6M-26.3%	-$418.7M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$558.6M-3.0%	$575.7M-11.4%	$649.7M-4.1%	$677.8M-10.6%	$758.3M-17.1%	$914.6M-6.1%	$973.9M-4.2%	$1.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$51.5M-28.2%	$71.8M-23.8%	$94.3M+10.6%	$85.2M-1.7%	$86.7M-24.5%	$114.9M-14.3%	$134.0M+35.5%	$98.9M
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	$219.5M-1.5%	$223.0M-16.6%	$267.3M-1.7%	$272.0M-14.1%	$316.6M-14.6%	$371.0M-9.7%	$410.7M-9.9%	$456.0M
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	$337.7M-3.9%	$351.4M-7.8%	$381.1M-5.8%	$404.5M-8.2%	$440.4M-18.8%	$542.4M-3.5%	$562.0M+0.5%	$559.2M
Retained Earnings	-$1.0B-1.3%	-$1.0B-3.0%	-$982.2M-2.4%	-$958.8M-3.9%	-$923.0M-12.5%	-$820.6M-2.5%	-$800.3M+0.3%	-$802.8M

SRG Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$53.5M-0.9%	-$53.1M+55.0%	-$117.9M+13.3%	-$136.0M-187.4%	-$47.3M+17.9%	-$57.7M
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	$126.9M-82.7%	$732.9M+25.1%	$586.1M+124.8%	$260.7M+508.2%	$42.9M+114.3%	-$299.5M
Financing Cash Flow	-$125.3M+81.4%	-$675.1M-54.5%	-$437.0M-171.1%	-$161.2M-1144.1%	$15.4M+142.4%	-$36.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$18.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	-$12.5M-3.9%	-$12.0M-31.0%	-$9.2M+34.0%	-$13.9M-85.0%	-$7.5M+54.7%	-$16.6M-50.6%	-$11.0M-5.2%	-$10.5M
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	-$2.5M-109.6%	$26.2M+32.3%	$19.8M-64.0%	$55.1M+93.8%	$28.5M-1.6%	$28.9M-66.9%	$87.3M-37.1%	$138.8M
Financing Cash Flow	-$5.2M+87.3%	-$41.2M-3263.8%	-$1.2M+97.1%	-$41.7M+18.5%	-$51.2M-63.9%	-$31.2M+24.7%	-$41.5M+72.6%	-$151.2M
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

SRG Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
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	-871.3%-125.8pp	-745.5%-676.5pp	-69.1%-45.0pp	-24.1%+66.0pp	-90.1%-54.9pp	-35.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-22.7%-6.7pp	-15.9%-11.9pp	-4.0%-2.8pp	-1.2%+2.8pp	-4.0%-1.8pp	-2.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.67-0.1	0.73-0.8	1.55-0.7	2.28-0.4	2.72+0.4	2.33
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

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	-259.6%+353.0pp	-612.6%-129.9pp	-482.8%-223.7pp	-259.0%+2142.0pp	-2401.0%-2072.2pp	-328.9%-369.1pp	40.2%+58.1pp	-17.9%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	0.7%	N/A
Return on Assets	-2.2%+2.7pp	-5.0%-1.5pp	-3.4%-1.8pp	-1.7%+11.7pp	-13.4%-11.3pp	-2.1%-2.5pp	0.4%+0.5pp	-0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.65+0.0	0.63-0.1	0.70+0.0	0.67-0.0	0.72+0.0	0.68-0.0	0.73-0.1	0.82
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

New England NEN

$227.0M

American Rlty Invs Inc ARL

$277.0M

Douglas Elliman Inc DOUG

$222.0M

RMR Group Inc RMR

$290.7M

Comstock Hldg Cos Inc CHCI

$114.6M

Frequently Asked Questions

What is Seritage Growth Pptys's annual revenue?

Seritage Growth Pptys (SRG) reported $17.6M in total revenue for fiscal year 2024. This represents a -15.2% 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 Seritage Growth Pptys's revenue growing?

Seritage Growth Pptys (SRG) revenue declined by 15.2% year-over-year, from $20.8M to $17.6M in fiscal year 2024.

Is Seritage Growth Pptys profitable?

No, Seritage Growth Pptys (SRG) reported a net income of -$153.5M in fiscal year 2024, with a net profit margin of -871.3%.

What is Seritage Growth Pptys's earnings per share (EPS)?

Seritage Growth Pptys (SRG) reported diluted earnings per share of $-2.82 for fiscal year 2024. This represents a 1.1% 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.

What is Seritage Growth Pptys's net profit margin?

Seritage Growth Pptys (SRG) had a net profit margin of -871.3% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Seritage Growth Pptys's operating cash flow?

Seritage Growth Pptys (SRG) generated -$53.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Seritage Growth Pptys's total assets?

Seritage Growth Pptys (SRG) had $677.8M in total assets as of fiscal year 2024, including both current and long-term assets.

What is Seritage Growth Pptys's debt-to-equity ratio?

Seritage Growth Pptys (SRG) had a debt-to-equity ratio of 0.67 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Seritage Growth Pptys's return on assets (ROA)?

Seritage Growth Pptys (SRG) had a return on assets of -22.7% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Seritage Growth Pptys's cash runway?

Based on fiscal year 2024 data, Seritage Growth Pptys (SRG) had $85.2M in cash against an annual operating cash burn of $53.5M. This gives an estimated cash runway of approximately 19 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Seritage Growth Pptys's Piotroski F-Score?

Seritage Growth Pptys (SRG) 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Seritage Growth Pptys's earnings high quality?

Seritage Growth Pptys (SRG) has an earnings quality ratio of 0.35x, considered low quality (accrual-driven). 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.