What is Wheeler Real Estate Invt Tr's earnings per share (EPS)?

Wheeler Real Estate Invt Tr (WHLRL) reported diluted earnings per share of $-36.01 for fiscal year 2025. 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.

Wheeler Real Estate Invt Tr Financials

WHLRL

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Wheeler Real Estate Invt Tr (WHLRL) financial statements, including the 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).

Financial Health Signals

Financial Profile 56/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Wheeler Real Estate Invt Tr has an operating margin of 43.5%, meaning the company retains $43 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 up from 35.9% the prior year.

Growth

Wheeler Real Estate Invt Tr's revenue declined 4.9% year-over-year, from $104.6M to $99.4M. This contraction results in a growth score of 25/100.

Leverage

Wheeler Real Estate Invt Tr has elevated debt relative to equity (D/E of 2166.85), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Returns

100

Wheeler Real Estate Invt Tr earns a strong 3747.9% return on equity (ROE), meaning it generates $3748 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.

Piotroski F-Score Neutral

5/9

Wheeler Real Estate Invt Tr passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.41x

For every $1 of reported earnings, Wheeler Real Estate Invt Tr generates $2.41 in operating cash flow ($21.1M OCF vs $8.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.3x

Wheeler Real Estate Invt Tr earns $1.3 in operating income for every $1 of interest expense ($43.2M vs $33.8M). 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

$99.4M

YoY-4.9%

5Y CAGR+10.3%

10Y CAGR+13.7%

Wheeler Real Estate Invt Tr generated $99.4M in revenue in fiscal year 2025. This represents a decrease of 4.9% from the prior year.

EBITDA

$66.2M

YoY+5.3%

5Y CAGR+13.1%

10Y CAGR+31.0%

Wheeler Real Estate Invt Tr's EBITDA was $66.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 5.3% from the prior year.

Net Income

$8.8M

YoY+191.1%

5Y CAGR+104.5%

Wheeler Real Estate Invt Tr reported $8.8M in net income in fiscal year 2025. This represents an increase of 191.1% from the prior year.

EPS (Diluted)

$-36.01

Wheeler Real Estate Invt Tr earned $-36.01 per diluted share (EPS) in fiscal year 2025. This represents an increase of 100.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$23.7M

YoY-44.9%

5Y CAGR+25.3%

10Y CAGR+8.5%

Wheeler Real Estate Invt Tr held $23.7M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

631,866

Wheeler Real Estate Invt Tr had 631,866 shares outstanding in fiscal year 2025. This represents an increase of 203072.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

43.5%

YoY+7.6pp

5Y CAGR+13.3pp

10Y CAGR+88.5pp

Wheeler Real Estate Invt Tr's operating margin was 43.5% in fiscal year 2025, reflecting core business profitability. This is up 7.6 percentage points from the prior year.

Net Margin

8.8%

YoY+18.0pp

5Y CAGR+8.4pp

10Y CAGR+72.3pp

Wheeler Real Estate Invt Tr's net profit margin was 8.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 18.0 percentage points from the prior year.

Return on Equity

3747.9%

5Y CAGR+3746.2pp

10Y CAGR+3765.7pp

Wheeler Real Estate Invt Tr's ROE was 3747.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

WHLRL Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$99.4M-4.9%	$104.6M+2.2%	$102.3M+33.5%	$76.6M+25.0%	$61.3M+0.5%	$61.0M
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	$11.7M+8.5%	$10.8M-8.1%	$11.8M+36.3%	$8.6M+20.7%	$7.1M+22.4%	$5.8M
Operating Income	$43.2M+15.2%	$37.5M+27.6%	$29.4M+19.6%	$24.6M+26.1%	$19.5M+5.9%	$18.4M
Interest Expense	$33.8M+3.5%	$32.6M+0.9%	$32.3M+7.3%	$30.1M-8.8%	$33.0M+93.2%	$17.1M
Income Tax	$26K+2500.0%	$1K-97.9%	$48K	$0-100.0%	$2K	$0
Net Income	$8.8M+191.1%	-$9.6M-105.5%	-$4.7M+62.4%	-$12.5M-31.9%	-$9.4M-3954.3%	$245K
EPS (Diluted)	$-36.01	$-346484.38	$-13157.97	$-22.04	$-1.36-41.7%	$-0.96

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$25.2M+5.7%	$23.8M-8.7%	$26.1M+7.2%	$24.4M-11.7%	$27.6M+11.3%	$24.8M-5.8%	$26.3M+1.7%	$25.9M
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	$3.8M+56.2%	$2.4M-14.7%	$2.8M+3.1%	$2.7M-19.4%	$3.4M+64.9%	$2.1M-20.9%	$2.6M-5.2%	$2.7M
Operating Income	$10.6M+93.6%	$5.5M-63.3%	$15.0M+23.2%	$12.1M+161.9%	$4.6M-66.6%	$13.9M+20.6%	$11.5M+54.1%	$7.5M
Interest Expense	$9.1M+16.1%	$7.9M-9.7%	$8.7M+7.4%	$8.1M-5.5%	$8.6M+9.1%	$7.9M-10.6%	$8.8M+18.5%	$7.4M
Income Tax	$0	$0	$0-100.0%	$26K	$0	$0-100.0%	$1K	$0
Net Income	-$819K-107.1%	$11.5M+571.1%	-$2.4M-580.7%	$509K-98.6%	$37.5M+212.4%	-$33.3M-559.0%	-$5.1M+41.9%	-$8.7M
EPS (Diluted)	N/A	$-0.83+91.2%	$-9.45+57.8%	$-22.41	N/A	$-129727.27-1022.7%	$-11554.90	$-2459.16

WHLRL Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$601.7M-7.9%	$653.7M-2.2%	$668.3M-2.4%	$684.5M+47.1%	$465.3M-4.9%	$489.4M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$23.7M-44.9%	$43.0M+133.4%	$18.4M-35.4%	$28.5M+24.4%	$22.9M+198.9%	$7.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$15.8M+7.3%	$14.7M+11.9%	$13.1M-3.1%	$13.5M+46.7%	$9.2M+0.9%	$9.2M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$507.0M-25.3%	$679.1M-1.5%	$689.6M-1.4%	$699.7M+51.0%	$463.4M+22.9%	$377.0M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	$477.6M+2.5%	$466.0M+38.5%	$336.4M-3.1%	$347.1M
Total Equity	$234K+100.9%	-$25.4M-19.1%	-$21.3M-40.4%	-$15.2M-914.7%	$1.9M-87.5%	$14.9M
Retained Earnings	-$350.9M-1.1%	-$347.0M-6.8%	-$324.9M-9.9%	-$295.6M-7.8%	-$274.1M-5.1%	-$260.9M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$601.7M-3.7%	$625.2M-0.1%	$625.9M+0.2%	$624.8M-4.4%	$653.7M-2.9%	$673.2M+0.4%	$670.3M+0.4%	$667.6M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$23.7M-12.7%	$27.1M-3.5%	$28.1M+45.9%	$19.2M-55.2%	$43.0M+15.9%	$37.1M+89.0%	$19.6M+10.6%	$17.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$15.8M+7.7%	$14.6M-7.0%	$15.7M+5.8%	$14.9M+1.2%	$14.7M+17.7%	$12.5M-13.7%	$14.5M+23.3%	$11.7M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$507.0M-4.8%	$532.8M-0.3%	$534.3M+1.5%	$526.6M-22.4%	$679.1M-8.4%	$741.1M+4.9%	$706.7M+1.4%	$696.6M
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	$479.2M
Total Equity	$234K+105.9%	-$3.9M+78.7%	-$18.5M+16.0%	-$22.0M+13.3%	-$25.4M+62.7%	-$67.9M-86.7%	-$36.4M-25.3%	-$29.0M
Retained Earnings	-$350.9M-0.2%	-$350.0M+2.5%	-$358.9M-1.4%	-$353.9M-2.0%	-$347.0M+8.5%	-$379.1M-10.4%	-$343.4M-2.3%	-$335.6M

WHLRL Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$21.1M-18.7%	$26.0M+24.1%	$20.9M-31.9%	$30.8M+80.5%	$17.0M+8.0%	$15.8M
Capital Expenditures	N/A	N/A	N/A	$8.5M+32.7%	$6.4M+182.3%	$2.3M
Free Cash Flow	N/A	N/A	N/A	$22.2M+109.3%	$10.6M-21.3%	$13.5M
Investing Cash Flow	$32.1M+107.6%	$15.5M+149.1%	-$31.5M+76.4%	-$133.5M-2717.4%	$5.1M+128.0%	$2.2M
Financing Cash Flow	-$65.4M-217.9%	-$20.6M-275.8%	-$5.5M-104.6%	$118.2M+582.6%	-$24.5M-875.0%	$3.2M
Dividends Paid	$6.6M-37.2%	$10.4M-2.9%	$10.8M+300.0%	$2.7M	$0-100.0%	$10.3M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$2.4M-56.5%	$5.4M-38.8%	$8.9M+100.1%	$4.4M-17.8%	$5.4M-27.8%	$7.5M-5.1%	$7.9M+50.5%	$5.2M
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	$11.2M+352.8%	-$4.4M-148.8%	$9.1M-43.8%	$16.2M+16.6%	$13.9M+67.7%	$8.3M+419.0%	-$2.6M+37.1%	-$4.1M
Financing Cash Flow	-$21.9M-909.3%	-$2.2M+68.8%	-$6.9M+79.8%	-$34.4M-152.3%	-$13.6M-440.9%	-$2.5M-24.2%	-$2.0M+15.3%	-$2.4M
Dividends Paid	$1.3M-56.9%	$3.0M-1.1%	$3.1M+46.3%	$2.1M-11.5%	$2.4M-49.9%	$4.7M+0.7%	$4.7M+75.2%	$2.7M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WHLRL Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	43.5%+7.6pp	35.9%+7.2pp	28.7%-3.4pp	32.1%+0.3pp	31.8%+1.6pp	30.2%
Net Margin	8.8%+18.0pp	-9.2%-4.6pp	-4.6%+11.7pp	-16.3%-0.9pp	-15.4%-15.8pp	0.4%
Return on Equity	3747.9%	N/A	N/A	N/A	-507.4%-509.1pp	1.6%
Return on Assets	1.5%+2.9pp	-1.5%-0.8pp	-0.7%+1.1pp	-1.8%+0.2pp	-2.0%-2.1pp	0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2166.85+2193.6	-26.77-4.3	-22.43+8.3	-30.74-211.5	180.78+157.5	23.27
FCF Margin	N/A	N/A	N/A	29.0%+11.7pp	17.3%-4.8pp	22.1%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	42.3%+19.2pp	23.1%-34.2pp	57.3%+7.4pp	49.9%+33.1pp	16.8%-39.2pp	56.0%+12.3pp	43.8%+14.9pp	28.9%
Net Margin	-3.3%-51.6pp	48.4%+57.8pp	-9.4%-11.5pp	2.1%-133.6pp	135.7%+270.1pp	-134.4%-115.2pp	-19.2%+14.4pp	-33.7%
Return on Equity	-350.0%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-0.1%-2.0pp	1.8%+2.2pp	-0.4%-0.5pp	0.1%-5.6pp	5.7%+10.7pp	-5.0%-4.2pp	-0.8%+0.5pp	-1.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2166.85+2302.2	-135.39-106.5	-28.92-5.0	-23.95+2.8	-26.77-15.9	-10.91+8.5	-19.42-2.9	-16.51
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is Wheeler Real Estate Invt Tr's annual revenue?

Wheeler Real Estate Invt Tr (WHLRL) reported $99.4M in total revenue for fiscal year 2025. This represents a -4.9% 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 Wheeler Real Estate Invt Tr's revenue growing?

Wheeler Real Estate Invt Tr (WHLRL) revenue declined by 4.9% year-over-year, from $104.6M to $99.4M in fiscal year 2025.

Is Wheeler Real Estate Invt Tr profitable?

Yes, Wheeler Real Estate Invt Tr (WHLRL) reported a net income of $8.8M in fiscal year 2025, with a net profit margin of 8.8%.

What is Wheeler Real Estate Invt Tr's EBITDA?

Wheeler Real Estate Invt Tr (WHLRL) had EBITDA of $66.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Wheeler Real Estate Invt Tr's operating margin?

Wheeler Real Estate Invt Tr (WHLRL) had an operating margin of 43.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Wheeler Real Estate Invt Tr's net profit margin?

Wheeler Real Estate Invt Tr (WHLRL) had a net profit margin of 8.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Wheeler Real Estate Invt Tr's return on equity (ROE)?

Wheeler Real Estate Invt Tr (WHLRL) has a return on equity of 3747.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Wheeler Real Estate Invt Tr's operating cash flow?

Wheeler Real Estate Invt Tr (WHLRL) generated $21.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Wheeler Real Estate Invt Tr's total assets?

Wheeler Real Estate Invt Tr (WHLRL) had $601.7M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Wheeler Real Estate Invt Tr have outstanding?

Wheeler Real Estate Invt Tr (WHLRL) had 631,866 shares outstanding as of fiscal year 2025.

What is Wheeler Real Estate Invt Tr's debt-to-equity ratio?

Wheeler Real Estate Invt Tr (WHLRL) had a debt-to-equity ratio of 2166.85 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Wheeler Real Estate Invt Tr's return on assets (ROA)?

Wheeler Real Estate Invt Tr (WHLRL) had a return on assets of 1.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Wheeler Real Estate Invt Tr's Piotroski F-Score?

Wheeler Real Estate Invt Tr (WHLRL) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 Wheeler Real Estate Invt Tr's earnings high quality?

Wheeler Real Estate Invt Tr (WHLRL) has an earnings quality ratio of 2.41x, considered cash-backed (high 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 Wheeler Real Estate Invt Tr cover its interest payments?

Wheeler Real Estate Invt Tr (WHLRL) has an interest coverage ratio of 1.3x, 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 Wheeler Real Estate Invt Tr?

Wheeler Real Estate Invt Tr (WHLRL) scores 56 out of 100 on our Financial Profile, indicating moderate 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.