What is Starwood Real Es's earnings per share (EPS)?

Starwood Real Es (SWDR) reported diluted earnings per share of $-1.74 for fiscal year 2025. This represents a -3.6% 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.

Starwood Real Es Financials

SWDR

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Starwood Real Es (SWDR) financial statements, including the 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).

Rhea AI SWDR FY2025 2026-05-11

At SWDR, cash-generating operations are being increasingly outweighed by a balance sheet financed with debt.

From FY2023 to FY2025, operating cash flow stayed positive, slipping from $557M to $346M even as reported earnings remained negative. Over the same span, debt-to-equity climbed from 1.8x to 3.1x, which means the business still converts activity into cash but not fast enough to protect a shrinking equity base.

With $12.0B of long-term debt and only $201M of cash in FY2025, SWDR carries a small cash buffer relative to its obligations, so balance-sheet flexibility depends heavily on continued operating inflows.

Accounts receivable were just $96M against $1.58B of revenue, which suggests collections are not the main reason cash stays tight. Instead, interest expense absorbed 40.2% of FY2025 revenue, so the operating business is supporting a heavy financing load rather than rebuilding equity.

Financial Health Signals

Financial Profile 27/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Starwood Real Es'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.

Profitability

100

Starwood Real Es has an operating margin of 61.1%, meaning the company retains $61 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 62.5% the prior year.

Growth

Starwood Real Es's revenue declined 6.3% year-over-year, from $1.7B to $1.6B. This contraction results in a growth score of 25/100.

Leverage

Starwood Real Es has a moderate D/E ratio of 3.08. This balance of debt and equity financing earns a leverage score of 39/100.

Returns

Starwood Real Es generates a -17.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -13.2% the prior year.

Piotroski F-Score Weak

3/9

Starwood Real Es passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-0.50x

For every $1 of reported earnings, Starwood Real Es generates $-0.50 in operating cash flow ($345.6M OCF vs -$691.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

1.5x

Starwood Real Es earns $1.5 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

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Earnings & Revenue

Revenue

$1.6B

YoY-6.3%

5Y CAGR+39.6%

Starwood Real Es generated $1.6B in revenue in fiscal year 2025. This represents a decrease of 6.3% from the prior year.

EBITDA

$1.7B

YoY-7.1%

5Y CAGR+36.9%

Starwood Real Es's EBITDA was $1.7B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 7.1% from the prior year.

Net Income

-$691.6M

YoY-1.0%

Starwood Real Es reported -$691.6M in net income in fiscal year 2025. This represents a decrease of 1.0% from the prior year.

EPS (Diluted)

$-1.74

YoY-3.6%

Starwood Real Es earned $-1.74 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 3.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$200.8M

YoY-28.7%

5Y CAGR+9.3%

Starwood Real Es held $200.8M in cash against $12.0B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

57.2%

YoY-0.4pp

5Y CAGR-4.9pp

Starwood Real Es's gross margin was 57.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the prior year.

Operating Margin

61.1%

YoY-1.4pp

5Y CAGR-2.9pp

Starwood Real Es's operating margin was 61.1% in fiscal year 2025, reflecting core business profitability. This is down 1.4 percentage points from the prior year.

Net Margin

-43.8%

YoY-3.2pp

5Y CAGR-11.5pp

Starwood Real Es's net profit margin was -43.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 3.2 percentage points from the prior year.

Return on Equity

-17.8%

YoY-4.6pp

5Y CAGR-11.8pp

Starwood Real Es's ROE was -17.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$472.9M

YoY-55.6%

5Y CAGR+61.0%

Starwood Real Es spent $472.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 55.6% from the prior year.

Capital Expenditures

N/A

SWDR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.6B-6.3%	$1.7B-3.8%	$1.8B+11.1%	$1.6B+145.7%	$642.9M+115.4%	$298.4M
Cost of Revenue	$676.6M-5.4%	$715.0M-4.5%	$748.5M+15.1%	$650.6M+161.6%	$248.7M+119.7%	$113.2M
Gross Profit	$904.3M-7.0%	$972.8M-3.3%	$1.0B+8.3%	$928.8M+135.6%	$394.3M+112.8%	$185.2M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$39.1M-17.0%	$47.0M+4.2%	$45.1M+1.0%	$44.7M+76.0%	$25.4M+194.6%	$8.6M
Operating Income	$965.5M-8.5%	$1.1B-5.6%	$1.1B+7.4%	$1.0B+137.2%	$438.8M+129.8%	$191.0M
Interest Expense	$636.1M-0.8%	$641.4M+9.9%	$583.5M+36.1%	$428.9M+219.7%	$134.1M+66.0%	$80.8M
Income Tax	-$3.2M+68.3%	-$10.1M-102.0%	-$5.0M-138.1%	-$2.1M-400.0%	$700K-41.7%	$1.2M
Net Income	-$691.6M-1.0%	-$684.9M-5.4%	-$649.7M-888.8%	-$65.7M+78.3%	-$302.3M-214.0%	-$96.3M
EPS (Diluted)	$-1.74-3.6%	$-1.68-20.9%	$-1.39-892.9%	$-0.14+90.6%	$-1.49	$-1.35

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$392.3M0.0%	$392.2M-0.4%	$393.9M-0.1%	$394.5M-1.4%	$400.3M-4.0%	$417.1M-1.8%	$424.8M+0.7%	$421.8M
Cost of Revenue	$160.1M-3.7%	$166.3M-3.5%	$172.4M+3.3%	$166.9M-2.5%	$171.1M-0.1%	$171.2M-6.7%	$183.6M+1.7%	$180.5M
Gross Profit	$232.2M+2.8%	$225.9M+1.9%	$221.6M-2.7%	$227.7M-0.7%	$229.2M-6.8%	$245.8M+1.9%	$241.3M0.0%	$241.3M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$10.2M+1.5%	$10.1M-2.0%	$10.3M+14.0%	$9.0M-6.5%	$9.7M-15.9%	$11.5M+18.5%	$9.7M-27.7%	$13.4M
Operating Income	$249.4M+2.8%	$242.5M+3.5%	$234.4M-3.0%	$241.6M-2.2%	$247.0M-6.5%	$264.1M+2.3%	$258.1M+2.4%	$251.9M
Interest Expense	-$172.3M-115.7%	$1.1B+787.3%	-$159.9M-6.0%	-$150.9M+0.9%	-$152.2M-118.8%	$811.1M+590.0%	-$165.5M-4.6%	-$158.2M
Income Tax	-$700K-75.0%	-$400K+76.5%	-$1.7M-142.9%	-$700K-75.0%	-$400K+97.8%	-$18.2M-1057.9%	$1.9M+5.6%	$1.8M
Net Income	-$112.9M+25.8%	-$152.0M+9.8%	-$168.5M+13.1%	-$193.9M-9.4%	-$177.2M-25.8%	-$140.9M+55.6%	-$317.0M-117.5%	-$145.7M
EPS (Diluted)	$-0.29	N/A	$-0.42+14.3%	$-0.49-11.4%	$-0.44	N/A	$-0.79-119.4%	$-0.36

SWDR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$18.9B-9.9%	$21.0B-9.2%	$23.1B-13.6%	$26.8B+34.0%	$20.0B+274.6%	$5.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$200.8M-28.7%	$281.5M-4.6%	$295.0M-54.2%	$643.5M+134.2%	$274.8M+113.6%	$128.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$95.6M-10.3%	$106.5M-16.5%	$127.6M+15.0%	$110.9M+7.6%	$103.0M+335.0%	$23.7M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$14.6B-4.9%	$15.3B-1.4%	$15.5B-4.2%	$16.2B+22.0%	$13.3B+257.2%	$3.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$12.0B-6.2%	$12.7B-2.2%	$13.0B-9.2%	$14.4B+27.3%	$11.3B+243.9%	$3.3B
Total Equity	$3.9B-25.2%	$5.2B-26.8%	$7.1B-29.7%	$10.1B+52.1%	$6.6B+315.6%	$1.6B
Retained Earnings	-$4.8B-31.2%	-$3.7B-45.5%	-$2.5B-87.2%	-$1.4B-78.9%	-$757.6M-237.9%	-$224.2M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$18.7B-0.9%	$18.9B-1.3%	$19.2B-1.0%	$19.4B-1.3%	$19.6B-6.5%	$21.0B-3.2%	$21.7B-1.3%	$22.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$211.1M+5.1%	$200.8M-17.6%	$243.8M+1.5%	$240.2M-11.2%	$270.4M-4.0%	$281.5M+7.1%	$262.9M-10.5%	$293.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$94.1M-1.5%	$95.6M+5.4%	$90.6M-2.8%	$93.2M-4.1%	$97.3M-8.7%	$106.5M+3.9%	$102.5M+1.2%	$101.3M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$14.7B+0.9%	$14.6B+0.7%	$14.5B+1.2%	$14.3B+0.3%	$14.2B-7.0%	$15.3B-2.3%	$15.7B+1.3%	$15.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$12.0B+0.1%	$12.0B-0.2%	$12.0B+0.1%	$12.0B+0.4%	$11.9B-6.4%	$12.7B-1.8%	$13.0B+0.1%	$13.0B
Total Equity	$3.6B-7.8%	$3.9B-8.1%	$4.2B-7.9%	$4.6B-6.4%	$4.9B-5.6%	$5.2B-6.2%	$5.5B-8.0%	$6.0B
Retained Earnings	-$5.1B-4.7%	-$4.8B-5.8%	-$4.6B-6.6%	-$4.3B-7.8%	-$4.0B-7.9%	-$3.7B-7.5%	-$3.4B-14.4%	-$3.0B

SWDR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$345.6M-19.5%	$429.2M-22.9%	$556.6M-6.4%	$594.9M+155.2%	$233.1M+106.6%	$112.8M
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	$1.2B+29.8%	$914.5M-59.0%	$2.2B+134.4%	-$6.5B+53.3%	-$13.9B-372.2%	-$2.9B
Financing Cash Flow	-$1.6B-20.3%	-$1.4B+57.3%	-$3.2B-154.0%	$5.9B-58.7%	$14.3B+387.7%	$2.9B
Dividends Paid	$341.8M+5.0%	$325.4M-8.6%	$356.2M+14.2%	$311.9M+165.7%	$117.4M+227.7%	$35.8M
Share Buybacks	$472.9M-55.6%	$1.1B-59.2%	$2.6B+93.8%	$1.3B+1987.2%	$64.5M+47.7%	$43.7M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$54.2M+9.9%	$49.3M-50.0%	$98.6M-12.3%	$112.4M+31.9%	$85.2M+11.3%	$76.6M-47.6%	$146.1M+65.6%	$88.3M
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	-$2.1M+89.0%	-$18.9M-171.6%	-$7.0M-107.2%	$97.3M-91.3%	$1.1B+276.2%	$296.6M+872.7%	-$38.4M-107.8%	$495.0M
Financing Cash Flow	-$46.7M+48.3%	-$90.3M-13.2%	-$79.8M+68.9%	-$256.9M+78.9%	-$1.2B-241.4%	-$355.8M-227.7%	-$108.6M+82.6%	-$624.1M
Dividends Paid	$86.8M+0.9%	$86.1M+0.2%	$85.9M+0.9%	$85.1M+0.5%	$84.7M+0.4%	$84.3M+1.6%	$83.0M+6.3%	$78.1M
Share Buybacks	$120.3M-9.4%	$132.8M-3.8%	$138.0M+20.2%	$114.8M+31.5%	$87.3M-13.3%	$100.7M-3.3%	$104.1M-70.0%	$346.5M

SWDR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	57.2%-0.4pp	57.6%+0.3pp	57.3%-1.5pp	58.8%-2.5pp	61.3%-0.8pp	62.1%
Operating Margin	61.1%-1.4pp	62.5%-1.2pp	63.7%-2.2pp	65.9%-2.3pp	68.3%+4.2pp	64.0%
Net Margin	-43.8%-3.2pp	-40.6%-3.5pp	-37.0%-32.9pp	-4.2%+42.9pp	-47.0%-14.8pp	-32.3%
Return on Equity	-17.8%-4.6pp	-13.2%-4.0pp	-9.2%-8.5pp	-0.7%+3.9pp	-4.6%+1.5pp	-6.0%
Return on Assets	-3.7%-0.4pp	-3.3%-0.4pp	-2.8%-2.6pp	-0.3%+1.3pp	-1.5%+0.3pp	-1.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.08+0.6	2.45+0.6	1.84+0.4	1.42-0.3	1.70-0.4	2.05
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	59.2%+1.6pp	57.6%+1.3pp	56.3%-1.4pp	57.7%+0.4pp	57.3%-1.7pp	58.9%+2.2pp	56.8%-0.4pp	57.2%
Operating Margin	63.6%+1.7pp	61.8%+2.3pp	59.5%-1.7pp	61.2%-0.5pp	61.7%-1.6pp	63.3%+2.6pp	60.8%+1.0pp	59.7%
Net Margin	-28.8%+10.0pp	-38.8%+4.0pp	-42.8%+6.4pp	-49.1%-4.9pp	-44.3%-10.5pp	-33.8%+40.8pp	-74.6%-40.1pp	-34.5%
Return on Equity	-3.1%+0.8pp	-3.9%+0.1pp	-4.0%+0.2pp	-4.2%-0.6pp	-3.6%-0.9pp	-2.7%+3.0pp	-5.7%-3.3pp	-2.4%
Return on Assets	-0.6%+0.2pp	-0.8%+0.1pp	-0.9%+0.1pp	-1.0%-0.1pp	-0.9%-0.2pp	-0.7%+0.8pp	-1.5%-0.8pp	-0.7%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	3.34+0.3	3.08+0.2	2.83+0.2	2.61+0.2	2.43-0.0	2.45+0.1	2.34+0.2	2.16
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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.

Does Starwood Real Es buy back shares?

Yes, Starwood Real Es (SWDR) spent $472.9M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

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 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 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) has an earnings quality ratio of -0.50x, 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.

Can Starwood Real Es cover its interest payments?

Starwood Real Es (SWDR) has an interest coverage ratio of 1.5x, 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.

How financially healthy is Starwood Real Es?

Starwood Real Es (SWDR) scores 27 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.