Starwood Real Es (SWDR) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SWDR SEC filings page.
Starwood Real Es (SWDR) reported $1.6B in revenue over the twelve months to Jun 30, 2026, down 3.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).
Debt service absorbs operating economics, while declining cash generation steadily erodes equity in an asset-heavy balance sheet.
In FY2025, a61.1% operating margin produced only$345.6M of operating cash flow, so reported operating earnings are not translating cleanly into cash. Meanwhile, debt-to-equity climbed from 1.8x in FY2023 to 3.1x in FY2025, making the shrinking equity cushion more consequential.
Gross margin stayed broadly stable through FY2025, yet net losses remained about
Equity fell sharply from FY2023 to FY2025 while long-term debt remained about
Financial Health Signals
Starwood Real Es 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.
Starwood Real Es passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
Starwood Real Es reported a net loss of $691.6M while generating $345.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Starwood Real Es earns $1.52 in operating income for every $1 of interest expense ($965.5M vs $636.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Starwood Real Es generated $398.0M in revenue in Q2 2026. This represents an increase of 0.9% from the same quarter a year earlier. Against the prior quarter it is up 1.4%.
Starwood Real Es's EBITDA was $429.5M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.4% from the same quarter a year earlier. Against the prior quarter it is up 0.6%.
Starwood Real Es reported -$144.2M in net income in Q2 2026. This represents an increase of 25.6% from the same quarter a year earlier. Against the prior quarter it is down 27.8%.
Starwood Real Es earned -$0.37 per diluted share (EPS) in Q2 2026. This represents an increase of 24.5% from the same quarter a year earlier. Against the prior quarter it is down 27.6%.
Cash & Balance Sheet
Starwood Real Es held $207.3M in cash against $12.0B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Starwood Real Es's gross margin was 58.5% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.7 percentage points.
Starwood Real Es's operating margin was 63.4% in Q2 2026, reflecting core business profitability. This is up 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.2 percentage points.
Starwood Real Es's net profit margin was -36.2% in Q2 2026, showing the share of revenue converted to profit. This is up 12.9 percentage points from the same quarter a year earlier. Against the prior quarter it is down 7.5 percentage points.
Starwood Real Es's ROE was -4.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.2 percentage points.
Capital Allocation
Starwood Real Es spent $65.2M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 43.2% from the same quarter a year earlier. Against the prior quarter it is down 45.8%.
Not reported for Q2 2026.
Not reported for Q2 2026.
SWDR 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 | $398.0M+0.9% | $392.3M-2.0% | $392.2M-6.0% | $393.9M-7.3% | $394.5M-6.5% | $400.3M-5.6% | $417.1M-1.4% | $424.8M-1.9% |
| Cost of Revenue | $165.1M-1.0% | $160.1M-6.4% | $166.3M-2.9% | $172.4M-6.1% | $166.9M-7.6% | $171.1M-4.8% | $171.2M-3.3% | $183.6M-2.9% |
| Gross Profit | $232.8M+2.3% | $232.2M+1.3% | $225.9M-8.1% | $221.6M-8.2% | $227.7M-5.6% | $229.2M-6.2% | $245.8M-0.1% | $241.3M-1.1% |
| SG&A Expenses | $9.6M+6.7% | $10.2M+6.1% | $10.1M-12.1% | $10.3M+6.3% | $9.0M-32.6% | $9.7M-22.7% | $11.5M-9.0% | $9.7M-4.1% |
| Operating Income | $252.2M+4.4% | $249.4M+1.0% | $242.5M-8.2% | $234.4M-9.2% | $241.6M-4.1% | $247.0M-12.1% | $264.1M+8.9% | $258.1M-9.8% |
| EBITDA | $429.5M+3.4% | $427.0M+1.7% | $422.5M-5.9% | $412.7M-6.9% | $415.3M-5.2% | $419.8M-10.2% | $448.9M+1.7% | $443.2M-9.5% |
| Interest Expense | -$182.8M-21.2% | -$172.3M-13.2% | $1.1B+35.5% | -$159.9M+3.4% | -$150.9M+4.6% | -$152.2M-198.8% | $811.1M+457.2% | -$165.5M-213.9% |
| Income Tax | -$300K+57.1% | -$700K-75.0% | -$400K+97.8% | -$1.7M-189.5% | -$700K-138.9% | -$400K-109.1% | -$18.2M-130.4% | $1.9M+72.7% |
| Net Income | -$144.2M+25.6% | -$112.9M+36.3% | -$152.0M-7.9% | -$168.5M+46.8% | -$193.9M-33.1% | -$177.2M-117.8% | -$140.9M+44.1% | -$317.0M-475.6% |
| EPS (Basic) | -$0.37+24.5% | -$0.29+34.1% | -$0.39-11.4% | -$0.42+46.8% | -$0.49-36.1% | -$0.44-131.6% | -$0.35+37.5% | -$0.79-558.3% |
| EPS (Diluted) | -$0.37+24.5% | -$0.29+34.1% | -$0.39-11.4% | -$0.42+46.8% | -$0.49-36.1% | -$0.44-131.6% | -$0.35+37.5% | -$0.79-558.3% |
| Diluted Shares (Avg) | 387M-3.1% | 390M-2.8% | N/A | 397M-1.7% | 400M-1.7% | 401M-4.7% | N/A | 404M-11.8% |
Not reported in any period shown, so not listed: R&D Expenses.
SWDR 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 | $18.6B-3.9% | $18.7B-4.5% | $18.9B-9.9% | $19.2B-11.6% | $19.4B-11.9% | $19.6B-13.5% | $21.0B-9.2% | $21.7B-10.5% |
| Cash & Equivalents | $207.3M-13.7% | $211.1M-21.9% | $200.8M-28.7% | $243.8M-7.2% | $240.2M-18.3% | $270.4M-14.5% | $281.5M-4.6% | $262.9M-8.6% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $93.2M0.0% | $94.1M-3.2% | $95.6M-10.3% | $90.6M-11.6% | $93.2M-8.0% | $97.3M-32.7% | $106.5M-16.5% | $102.5M-27.4% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $14.8B+3.6% | $14.7B+3.2% | $14.6B-4.9% | $14.5B-7.7% | $14.3B-7.6% | $14.2B-9.2% | $15.3B-1.4% | $15.7B-0.8% |
| Long-Term Debt | $12.0B+0.4% | $12.0B+0.4% | $12.0B-6.2% | $12.0B-7.7% | $12.0B-7.7% | $11.9B-8.1% | $12.7B-2.2% | $13.0B-1.7% |
| Total Equity | $3.3B-27.5% | $3.6B-26.9% | $3.9B-25.2% | $4.2B-23.6% | $4.6B-23.7% | $4.9B-24.7% | $5.2B-26.8% | $5.5B-29.8% |
| Retained Earnings | -$5.3B-23.3% | -$5.1B-27.2% | -$4.8B-31.2% | -$4.6B-33.3% | -$4.3B-43.0% | -$4.0B-45.4% | -$3.7B-45.5% | -$3.4B-59.0% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities.
SWDR 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 | $106.0M-5.7% | $54.2M-36.4% | $49.3M-35.6% | $98.6M-32.5% | $112.4M+27.4% | $85.2M-27.9% | $76.6M-39.1% | $146.1M-14.0% |
| Depreciation & Amortization | $177.3M+2.1% | $177.6M+2.8% | $180.0M-2.6% | $178.3M-3.7% | $173.7M-6.6% | $172.8M-7.3% | $184.8M-7.1% | $185.1M-9.1% |
| Investing Cash Flow | -$27.8M-128.6% | -$2.1M-100.2% | -$18.9M-106.4% | -$7.0M+81.9% | $97.3M-80.4% | $1.1B+591.8% | $296.6M-62.9% | -$38.4M-104.7% |
| Financing Cash Flow | -$61.1M+76.2% | -$46.7M+96.2% | -$90.3M+74.6% | -$79.8M+26.5% | -$256.9M+58.8% | -$1.2B-339.1% | -$355.8M+62.1% | -$108.6M+89.7% |
| Dividends Paid | $71.7M-15.8% | $86.8M+2.5% | $86.1M+2.1% | $85.9M+3.5% | $85.1M+9.0% | $84.7M+5.9% | $84.3M-0.5% | $83.0M-5.0% |
| Share Buybacks | $65.2M-43.2% | $120.3M+37.8% | $132.8M+31.8% | $138.0M+32.6% | $114.8M-66.9% | $87.3M-83.0% | $100.7M-83.4% | $104.1M-83.7% |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow.
SWDR 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.5%+0.8pp | 59.2%+1.9pp | 57.6%-1.3pp | 56.3%-0.5pp | 57.7%+0.5pp | 57.3%-0.4pp | 58.9%+0.8pp | 56.8%+0.5pp |
| Operating Margin | 63.4%+2.1pp | 63.6%+1.9pp | 61.8%-1.5pp | 59.5%-1.3pp | 61.2%+1.5pp | 61.7%-4.5pp | 63.3%+6.0pp | 60.8%-5.3pp |
| Net Margin | -36.2%+12.9pp | -28.8%+15.5pp | -38.8%-5.0pp | -42.8%+31.8pp | -49.1%-14.6pp | -44.3%-25.1pp | -33.8%+25.7pp | -74.6%-61.9pp |
| Return on Equity | -4.3%-0.1pp | -3.1%+0.5pp | -3.9%-1.2pp | -4.0%+1.7pp | -4.2%-1.8pp | -3.6%-2.4pp | -2.7%+0.8pp | -5.7%-5.0pp |
| Return on Assets | -0.8%+0.2pp | -0.6%+0.3pp | -0.8%-0.1pp | -0.9%+0.6pp | -1.0%-0.3pp | -0.9%-0.5pp | -0.7%+0.4pp | -1.5%-1.2pp |
| Debt-to-Equity | 3.61+1.0x | 3.34+0.9x | 3.08+0.6x | 2.83+0.5x | 2.61+0.5x | 2.43+0.4x | 2.45+0.6x | 2.34+0.7x |
| Asset Turnover | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x |
Not reported in any period shown, so not listed: Current Ratio, FCF Margin.
Where Starwood Real Es Ranks
Frequently Asked Questions
What is Starwood Real Es's annual revenue?
Starwood Real Es (SWDR) reported $1.6B in total revenue for fiscal year 2025. This represents a -6.3% 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 Starwood Real Es's revenue growing?
Starwood Real Es (SWDR) revenue declined by 6.3% year-over-year, from $1.7B to $1.6B in fiscal year 2025.
Is Starwood Real Es profitable?
No, Starwood Real Es (SWDR) reported a net income of -$691.6M in fiscal year 2025, with a net profit margin of -43.8%.
What is Starwood Real Es's EBITDA?
Starwood Real Es (SWDR) had EBITDA of $1.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Starwood Real Es have?
As of fiscal year 2025, Starwood Real Es (SWDR) had $200.8M in cash and equivalents against $12.0B in long-term debt.
What is Starwood Real Es's gross margin?
Starwood Real Es (SWDR) had a gross margin of 57.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Starwood Real Es's operating margin?
Starwood Real Es (SWDR) had an operating margin of 61.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Starwood Real Es's net profit margin?
Starwood Real Es (SWDR) had a net profit margin of -43.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Starwood Real Es's return on equity (ROE)?
Starwood Real Es (SWDR) has a return on equity of -17.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Starwood Real Es's operating cash flow?
Starwood Real Es (SWDR) generated $345.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Starwood Real Es's total assets?
Starwood Real Es (SWDR) had $18.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Starwood Real Es's debt-to-equity ratio?
Starwood Real Es (SWDR) had a debt-to-equity ratio of 3.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Starwood Real Es's return on assets (ROA)?
Starwood Real Es (SWDR) had a return on assets of -3.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Starwood Real Es's Piotroski F-Score?
Starwood Real Es (SWDR) has a Piotroski F-Score of 3 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.
Are Starwood Real Es's earnings high quality?
Starwood Real Es (SWDR) reported a net loss of $691.6M while generating $345.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, 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.
Can Starwood Real Es cover its interest payments?
Starwood Real Es (SWDR) has an interest coverage ratio of 1.52x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.