RTL · Necessity Retail REIT, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $106.70M | $113.59M | - | $116.18M | $116.93M | $94.94M | - | $91.92M | $81.58M | $79.19M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $14.74M | $10.49M | - | $8.50M | $8.39M | $6.83M | - | $5.59M | $3.54M | $6.45M |
| Total Operating Expenses | $124.51M | $103.67M | - | $136.10M | $153.46M | $81.20M | - | $73.74M | $62.73M | $63.92M |
| D&A | $59.47M | $54.18M | - | $57.49M | $46.57M | $37.69M | - | $32.76M | $32.43M | $32.32M |
| Operating Income | ($12.34M) | $21.71M | - | ($18.31M) | ($23.09M) | $67.31M | - | $18.65M | $18.86M | $15.56M |
| Interest Expense | $35.95M | $34.67M | - | $32.40M | $28.33M | $23.74M | - | $19.23M | $20.36M | $19.33M |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | ($53.47M) | ($18.76M) | - | ($56.47M) | ($56.26M) | $39.93M | - | ($6.41M) | ($7.41M) | ($9.41M) |
| EPS - Basic | ($0.40) | ($0.14) | - | ($0.43) | ($0.43) | $0.31 | - | ($0.06) | ($0.07) | ($0.08) |
| EPS - Diluted | ($0.40) | ($0.14) | - | ($0.43) | ($0.43) | $0.31 | - | ($0.06) | ($0.07) | - |
Balance Sheet
| Line item | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $59.17M | $43.09M | $70.80M | $41.15M | $69.43M | $82.11M | $214.85M | $98.99M | $137.14M | $84.21M |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Current Assets | - | - | - | - | - | - | - | - | - | - |
| Total Assets | $4.34B | $4.46B | $4.59B | $4.65B | $4.69B | $4.33B | $3.81B | $3.70B | $3.67B | $3.61B |
| Current Liabilities | - | - | - | - | - | - | - | - | - | - |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $2.87B | $2.91B | $3.00B | $3.01B | $2.97B | $2.53B | $2.10B | $1.92B | $1.92B | $1.92B |
| Stockholders' Equity | $1.44B | $1.52B | $1.56B | $1.63B | $1.65B | $1.73B | $1.70B | $1.77B | $1.71B | $1.66B |
| Retained Earnings | ($1.57B) | ($1.48B) | ($1.44B) | ($1.37B) | ($1.29B) | ($1.20B) | ($1.22B) | ($1.15B) | ($1.12B) | ($1.09B) |
Cash Flow
| Line item | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | - | $18.09M | - | - | - | $45.10M | - | - | - | $34.42M |
| Investing Cash Flow | - | $2.33M | - | - | - | ($545.39M) | - | - | - | ($37.52M) |
| Financing Cash Flow | - | ($46.65M) | - | - | - | $360.68M | - | - | - | ($11.77M) |
| CapEx | - | $12.26M | - | - | - | $786.31M | - | - | - | $37.15M |
| Free Cash Flow | - | $5.83M | - | - | - | ($741.21M) | - | - | - | ($2.73M) |
Ratios
| Metric | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 | Q2 '21 | Q1 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | - | - | - | - | - | - | - | - | - | - |
| Operating margin | -11.6% | 19.1% | - | -15.8% | -19.8% | 70.9% | - | 20.3% | 23.1% | 19.6% |
| EBITDA margin | 44.2% | 66.8% | - | 33.7% | 20.1% | 110.6% | - | 55.9% | 62.9% | 60.5% |
| Net margin | -50.1% | -16.5% | - | -48.6% | -48.1% | 42.1% | - | -7.0% | -9.1% | -11.9% |
| Free cash flow margin | - | 5.1% | - | - | - | -780.7% | - | - | - | -3.4% |
| FCF / Net income | - | -0.31 | - | - | - | -18.56 | - | - | - | 0.29 |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 13.8% | 9.2% | - | 7.3% | 7.2% | 7.2% | - | 6.1% | 4.3% | 8.1% |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -1.2% | -0.4% | - | -1.2% | -1.2% | 0.9% | - | -0.2% | -0.2% | -0.3% |
| Return on equity | -3.7% | -1.2% | - | -3.5% | -3.4% | 2.3% | - | -0.4% | -0.4% | -0.6% |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | - | - | - | - | - | - | - | - | - | - |
| Quick ratio | - | - | - | - | - | - | - | - | - | - |
| Cash ratio | - | - | - | - | - | - | - | - | - | - |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -0.3x | 0.6x | - | -0.6x | -0.8x | 2.8x | - | 1.0x | 0.9x | 0.8x |
| Equity multiplier | 3.02 | 2.94 | 2.93 | 2.86 | 2.84 | 2.50 | 2.24 | 2.09 | 2.14 | 2.18 |
| Liabilities / Assets | 0.66 | 0.65 | 0.65 | 0.65 | 0.63 | 0.58 | 0.55 | 0.52 | 0.52 | 0.53 |
| Efficiency | ||||||||||
| Asset turnover | 0.02 | 0.03 | - | 0.02 | 0.02 | 0.02 | - | 0.02 | 0.02 | 0.02 |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | - | - | - | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -8.7% | 19.6% | - | 26.4% | 43.3% | 19.9% | - | 17.1% | 8.9% | 6.2% |
| Revenue CAGR (3y) | 12.5% | 15.1% | - | 16.8% | 13.9% | 9.9% | - | 7.1% | 4.7% | 4.1% |
| Revenue CAGR (5y) | 8.5% | 10.1% | - | 10.7% | 10.3% | 10.7% | - | 15.5% | 13.0% | 12.6% |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 46.6% | -67.7% | - | - | - | 332.7% | - | 12.9% | 3418.5% | 15.3% |
| Net income growth (YoY) | 5.0% | - | - | -781.5% | -659.7% | - | - | 9.7% | 66.0% | -2.8% |
| EPS growth (YoY) | 7.0% | - | - | -616.7% | -514.3% | - | - | 14.3% | 65.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | -27050.5% | - | - | - | 93.1% |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -13.0% | -12.5% | -7.9% | -7.9% | -3.7% | 4.8% | 1.8% | 11.2% | 5.8% | -0.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-12-31.
Business segments
$335.16M totalSingle Tenant Properties$218.94M · 65.3%
Multi Tenant Properties$116.21M · 34.7%
Peer comparison
Same SIC group: Real Estate Investment Trusts
Comparing Necessity Retail REIT against the 5 most active filers in the same SIC group.