What is Whitestone's earnings per share (EPS)?

Whitestone (WSR) reported diluted earnings per share of $0.95 for fiscal year 2025. This represents a 31.9% 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.

Whitestone Financials

WSR

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

This page shows Whitestone (WSR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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 62/100

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

Growth

Whitestone's revenue grew a modest 4.3% year-over-year to $160.9M. This slow but positive growth earns a score of 40/100.

Leverage

Whitestone carries a low D/E ratio of 1.42, meaning only $1.42 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 73/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

100

Whitestone converts 31.4% of revenue into free cash flow ($50.5M). This strong cash generation earns a score of 100/100.

Returns

Whitestone's ROE of 10.9% shows moderate profitability relative to equity, earning a score of 35/100. This is up from 8.4% the prior year.

Piotroski F-Score Neutral

6/9

Whitestone passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.02x

For every $1 of reported earnings, Whitestone generates $1.02 in operating cash flow ($50.8M OCF vs $49.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$160.9M

YoY+4.3%

5Y CAGR+6.4%

Whitestone generated $160.9M in revenue in fiscal year 2025. This represents an increase of 4.3% from the prior year.

EBITDA

N/A

Net Income

$49.9M

YoY+35.3%

5Y CAGR+52.6%

10Y CAGR+22.2%

Whitestone reported $49.9M in net income in fiscal year 2025. This represents an increase of 35.3% from the prior year.

EPS (Diluted)

$0.95

YoY+31.9%

5Y CAGR+46.7%

10Y CAGR+14.7%

Whitestone earned $0.95 per diluted share (EPS) in fiscal year 2025. This represents an increase of 31.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$50.5M

YoY-13.0%

5Y CAGR+3.4%

Whitestone generated $50.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 13.0% from the prior year.

Cash & Debt

$4.9M

YoY-6.4%

5Y CAGR-28.3%

10Y CAGR+6.6%

Whitestone held $4.9M in cash against $649.4M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

51M

YoY+0.8%

5Y CAGR+3.8%

10Y CAGR+6.6%

Whitestone had 51M shares outstanding in fiscal year 2025. This represents an increase of 0.8% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

31.0%

YoY+7.1pp

5Y CAGR+25.9pp

Whitestone's net profit margin was 31.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.1 percentage points from the prior year.

Return on Equity

10.9%

YoY+2.5pp

5Y CAGR+9.1pp

10Y CAGR+8.1pp

Whitestone's ROE was 10.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$2.3M

YoY-14.1%

5Y CAGR+1.8%

10Y CAGR+5.3%

Whitestone spent $2.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 14.1% from the prior year.

Capital Expenditures

$300K

YoY+50.0%

Whitestone invested $300K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 50.0% from the prior year.

WSR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$160.9M+4.3%	$154.3M+5.0%	$147.0M+5.4%	$139.4M+11.2%	$125.4M+6.3%	$117.9M
Cost of Revenue	N/A	N/A	N/A	N/A	$90.9M+3.1%	$88.2M
Gross Profit	N/A	N/A	N/A	N/A	$34.5M+15.9%	$29.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$21.2M-8.5%	$23.2M+12.3%	$20.7M+14.3%	$18.1M-20.2%	$22.6M+6.2%	$21.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$33.7M-1.1%	$34.0M+3.6%	$32.9M+20.9%	$27.2M+10.7%	$24.6M-4.7%	$25.8M
Income Tax	$482K+7.1%	$450K0.0%	$450K+6.6%	$422K+9.6%	$385K+1.6%	$379K
Net Income	$49.9M+35.3%	$36.9M+92.4%	$19.2M-45.6%	$35.3M+192.7%	$12.0M+99.7%	$6.0M
EPS (Diluted)	$0.95+31.9%	$0.72+89.5%	$0.38-46.5%	$0.71+173.1%	$0.26+85.7%	$0.14

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$43.9M+7.0%	$41.0M+8.3%	$37.9M-0.3%	$38.0M-6.9%	$40.8M+5.7%	$38.6M+2.6%	$37.6M+1.3%	$37.2M
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	N/A	$5.3M+8.1%	$4.9M-9.6%	$5.4M	N/A	$4.9M-25.5%	$6.6M+6.0%	$6.2M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	$8.7M+4.4%	$8.3M+2.4%	$8.1M	N/A	$8.5M-3.2%	$8.8M+3.2%	$8.5M
Income Tax	N/A	$131K+39.4%	$94K-26.0%	$127K	N/A	$118K+31.1%	$90K-24.4%	$119K
Net Income	$22.8M+24.6%	$18.3M+262.7%	$5.1M+36.6%	$3.7M-78.7%	$17.3M+127.4%	$7.6M+194.1%	$2.6M-72.2%	$9.3M
EPS (Diluted)	$0.43+22.9%	$0.35+250.0%	$0.10+42.9%	$0.07-78.8%	$0.33+120.0%	$0.15+200.0%	$0.05-72.2%	$0.18

WSR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.2B+3.2%	$1.1B+1.9%	$1.1B+0.9%	$1.1B+0.1%	$1.1B+5.5%	$1.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$4.9M-6.4%	$5.2M+14.3%	$4.6M-25.9%	$6.2M-60.8%	$15.7M-39.0%	$25.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$37.4M+10.7%	$33.8M+10.6%	$30.6M+19.6%	$25.6M+14.2%	$22.4M-2.7%	$23.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$707.4M+2.4%	$690.8M-0.4%	$693.6M+2.3%	$678.3M-3.5%	$703.1M-0.5%	$706.7M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$649.4M+2.7%	$632.5M-1.2%	$640.5M+2.3%	$626.0M-2.7%	$643.6M-0.1%	$644.2M
Total Equity	$458.1M+4.6%	$438.2M+5.9%	$413.7M-1.1%	$418.4M+6.5%	$392.8M+18.3%	$332.1M
Retained Earnings	-$183.6M+10.7%	-$205.6M+5.3%	-$217.0M-2.2%	-$212.4M+5.2%	-$224.0M	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$1.2B+2.2%	$1.1B-0.8%	$1.2B+2.6%	$1.1B-0.7%	$1.1B+2.0%	$1.1B-2.4%	$1.1B+1.7%	$1.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$4.9M-28.6%	$6.8M+28.6%	$5.3M-4.7%	$5.6M+6.9%	$5.2M+106.2%	$2.5M-21.6%	$3.2M-48.0%	$6.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$37.4M+9.8%	$34.1M+4.9%	$32.5M-4.0%	$33.9M+0.1%	$33.8M+3.9%	$32.5M+5.2%	$30.9M-0.4%	$31.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$707.4M+0.9%	$701.2M-2.9%	$722.5M+4.7%	$690.1M-0.1%	$690.8M+0.5%	$687.6M-4.0%	$716.5M+3.2%	$694.4M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$649.4M	N/A	N/A	N/A	$632.5M	N/A	N/A	N/A
Total Equity	$458.1M+4.2%	$439.5M+2.8%	$427.5M-0.8%	$431.0M-1.6%	$438.2M+4.4%	$419.5M+0.3%	$418.3M-0.8%	$421.6M
Retained Earnings	-$183.6M+7.8%	-$199.1M+5.4%	-$210.6M-0.9%	-$208.8M-1.6%	-$205.6M+4.9%	-$216.0M+0.6%	-$217.4M-1.7%	-$213.8M

WSR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$50.8M-12.8%	$58.2M+22.3%	$47.6M+7.1%	$44.4M-5.5%	$47.0M+10.0%	$42.8M
Capital Expenditures	$300K+50.0%	$200K+100.0%	$100K0.0%	$100K-66.7%	$300K	$0
Free Cash Flow	$50.5M-13.0%	$58.0M+22.2%	$47.5M+7.1%	$44.3M-5.2%	$46.7M+9.3%	$42.8M
Investing Cash Flow	-$21.3M-33.0%	-$16.0M+55.9%	-$36.3M-440.9%	-$6.7M+92.6%	-$91.2M-1316.6%	-$6.4M
Financing Cash Flow	-$37.5M-19.1%	-$31.5M-142.2%	-$13.0M+72.5%	-$47.3M-246.3%	$32.3M+224.2%	-$26.0M
Dividends Paid	$27.4M+11.5%	$24.6M+3.7%	$23.7M+3.2%	$23.0M+18.8%	$19.3M-23.3%	$25.2M
Share Buybacks	$2.3M-14.1%	$2.6M+403.0%	$525K-2.2%	$537K-22.3%	$691K-66.7%	$2.1M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$15.9M-11.8%	$18.0M+30.0%	$13.8M+349.1%	$3.1M-83.0%	$18.1M+10.4%	$16.4M+33.6%	$12.3M+6.4%	$11.5M
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	$5.6M-75.9%	$23.4M+150.4%	-$46.4M-1085.0%	-$3.9M-223.6%	$3.2M-77.1%	$13.8M+148.7%	-$28.4M-520.4%	-$4.6M
Financing Cash Flow	-$21.0M+47.3%	-$39.8M-280.6%	$22.1M+1627.2%	$1.3M+115.2%	-$8.4M+72.8%	-$30.9M-334.3%	$13.2M+346.0%	-$5.4M
Dividends Paid	$6.9M-1.7%	$7.0M0.0%	$7.0M+1.9%	$6.8M+9.6%	$6.2M-1.6%	$6.3M+1.1%	$6.3M+5.1%	$6.0M
Share Buybacks	$0-100.0%	$758K	$0-100.0%	$1.5M	$0	$0-100.0%	$1.2M-16.9%	$1.4M

WSR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	27.5%+2.3pp	25.2%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	31.0%+7.1pp	23.9%+10.9pp	13.1%-12.3pp	25.3%+15.7pp	9.6%+4.5pp	5.1%
Return on Equity	10.9%+2.5pp	8.4%+3.8pp	4.6%-3.8pp	8.4%+5.4pp	3.1%+1.3pp	1.8%
Return on Assets	4.3%+1.0pp	3.3%+1.5pp	1.7%-1.5pp	3.2%+2.1pp	1.1%+0.5pp	0.6%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.42-0.0	1.44-0.1	1.55+0.1	1.50-0.1	1.64-0.3	1.94
FCF Margin	31.4%-6.2pp	37.6%+5.3pp	32.3%+0.5pp	31.8%-5.5pp	37.3%+1.0pp	36.3%

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	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	52.0%+7.3pp	44.7%+31.3pp	13.3%+3.6pp	9.7%-32.7pp	42.4%+22.7pp	19.7%+12.8pp	6.9%-18.2pp	25.1%
Return on Equity	5.0%+0.8pp	4.2%+3.0pp	1.2%+0.3pp	0.9%-3.1pp	4.0%+2.1pp	1.8%+1.2pp	0.6%-1.6pp	2.2%
Return on Assets	1.9%+0.3pp	1.6%+1.2pp	0.4%+0.1pp	0.3%-1.2pp	1.5%+0.8pp	0.7%+0.5pp	0.2%-0.6pp	0.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.42-0.2	1.60-0.1	1.69+0.1	1.60+0.2	1.44-0.2	1.64-0.1	1.71+0.1	1.65
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Whitestone's annual revenue?

Whitestone (WSR) reported $160.9M in total revenue for fiscal year 2025. This represents a 4.3% 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 Whitestone's revenue growing?

Whitestone (WSR) revenue grew by 4.3% year-over-year, from $154.3M to $160.9M in fiscal year 2025.

Is Whitestone profitable?

Yes, Whitestone (WSR) reported a net income of $49.9M in fiscal year 2025, with a net profit margin of 31.0%.

How much debt does Whitestone have?

As of fiscal year 2025, Whitestone (WSR) had $4.9M in cash and equivalents against $649.4M in long-term debt.

What is Whitestone's net profit margin?

Whitestone (WSR) had a net profit margin of 31.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Whitestone's return on equity (ROE)?

Whitestone (WSR) has a return on equity of 10.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Whitestone's free cash flow?

Whitestone (WSR) generated $50.5M in free cash flow during fiscal year 2025. This represents a -13.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Whitestone's operating cash flow?

Whitestone (WSR) generated $50.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Whitestone's total assets?

Whitestone (WSR) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Whitestone's capital expenditures?

Whitestone (WSR) invested $300K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does Whitestone buy back shares?

Yes, Whitestone (WSR) spent $2.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Whitestone have outstanding?

Whitestone (WSR) had 51M shares outstanding as of fiscal year 2025.

What is Whitestone's debt-to-equity ratio?

Whitestone (WSR) had a debt-to-equity ratio of 1.42 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Whitestone's return on assets (ROA)?

Whitestone (WSR) had a return on assets of 4.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Whitestone's Piotroski F-Score?

Whitestone (WSR) has a Piotroski F-Score of 6 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 Whitestone's earnings high quality?

Whitestone (WSR) has an earnings quality ratio of 1.02x, 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.

How financially healthy is Whitestone?

Whitestone (WSR) scores 62 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.