Getty Realty Corp. Financial Statements — GTY Stock

Income Statement	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Sales/Revenue/Turnover	78	94	96	103	100	111	115	120	136	141	147	155	166	186	203
+ Sales & Services Revenue	78	94	96	103	100	111	115	120	136	141	147	155	166	186	203
- Cost of Revenue	10	16	29	29	24	25	23	22	24	25	24	22	22	24	15
+ Cost of Goods & Services	10	16	29	29	24	25	23	22	24	25	24	22	22	24	15
Gross Profit	68	78	67	73	76	86	92	98	112	116	124	133	144	162	189
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	23	51	39	31	34	41	36	33	43	46	49	59	40	70	81
+ Selling, General & Admin	8	21	16	20	16	17	14	14	15	15	17	20	21	24	25
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	14	31	23	10	19	24	21	19	28	31	31	39	19	47	56
Operating Income (Loss)	46	27	28	43	42	45	57	65	70	70	75	74	104	92	108
- Non-Operating (Income) Loss	5	18	15	15	21	6	17	18	22	20	6	11	14	32	37
+ Interest Expense, Net	5	5	7	8	7	11	13	18	22	25	26	25	28	32	39
+ Interest Expense	5	5	10	12	10	14	17	18	22	25	26	25	28	32	39
- Interest Income	- -	- -	3	3	3	4	4	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	13	7	7	15	-5	4	- -	-1	-5	-20	-13	-13	- -	-3
Pretax Income	41	9	14	27	20	39	40	47	48	50	69	63	90	60	71
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	41	9	14	27	20	39	40	47	48	50	69	63	90	60	71
- Net Extraordinary Losses (Gains)	-11	-4	1	-43	-3	2	1	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	11	4	-1	43	3	-2	-1	2	-1	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	-22	-7	3	-85	-6	4	3	-2	1	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	52	12	12	70	23	37	38	47	48	50	69	63	90	60	71
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	52	12	12	70	23	37	38	47	48	50	69	63	90	60	71
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	52	12	12	70	23	37	38	47	48	50	69	63	90	60	71
Basic Weighted Avg Shares	28	33	33	33	33	33	34	37	40	41	42	45	47	50	- -
Basic EPS, GAAP	1.85	0.38	0.37	2.1	0.69	1.11	1.14	1.28	1.19	1.21	1.65	1.4	1.93	1.2	- -
Basic EPS from Cont Ops	1.46	0.27	0.41	0.82	0.61	1.18	1.18	1.28	1.19	1.21	1.65	1.4	1.93	1.2	- -
Diluted Weighted Avg Shares	28	33	33	33	33	33	34	37	40	41	42	45	47	50	- -
Diluted EPS, GAAP	1.85	0.38	0.37	2.1	0.69	1.11	1.14	1.28	1.19	1.21	1.65	1.4	1.92	1.2	- -
Diluted EPS from Cont Ops	1.46	0.27	0.41	0.82	0.61	1.18	1.18	1.28	1.19	1.21	1.65	1.4	1.92	1.2	- -
EBITDA	54	36	39	52	52	60	75	86	95	98	109	114	150	143	168
EBITDA Margin (%)	69.22	38.8	40.25	50.69	52.36	54.61	65.18	71.4	70.08	69.51	74.23	73.64	90.42	77	82.66
EBITA	46	27	28	43	42	45	57	65	70	70	75	74	104	92	108
EBIT	46	27	28	43	42	45	57	65	70	70	75	74	104	92	108
Gross Margin (%)	87.17	83.44	70.17	71.42	76.21	77.81	79.87	81.41	82.63	82.24	84.04	85.81	86.98	87.2	92.69
Operating Margin (%)	58.4	28.5	29.47	41.45	41.82	40.63	49.05	53.86	51.09	49.56	51.1	47.71	63.06	49.38	52.95
Profit Margin (%)	65.98	13.29	12.95	68.09	23.44	33.77	33.32	39.27	35.05	35.35	47.09	40.45	54.38	32.37	34.94
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.87	1.91	0.25	0.73	0.86	1.05	1.07	1.07	1.26	1.39	1.49	1.58	1.67	1.74	- -
Depreciation Expense	8	10	10	10	11	15	19	21	26	28	34	40	45	51	60

Balance Sheet	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Total Current Assets	19	64	128	141	101	128	124	146	184	159	189	178	104	179	107
+ Cash, Cash Equivalents & STI	6	8	17	12	3	4	13	20	47	22	55	25	9	3	9
+ Cash & Cash Equivalents	6	8	17	12	3	4	13	20	47	22	55	25	9	3	9
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	6	44	54	51	60	77	67	70	74	75	59	65	89	171	94
+ Accounts Receivable, Net	4	36	42	34	39	51	37	36	37	3	4	4	4	5	3
+ Notes Receivable, Net	- -	- -	- -	29	34	48	33	32	- -	31	11	15	34	112	29
+ Loans Receivable, Net	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	8	12	-12	-13	-23	-3	1	38	41	44	47	50	54	62
+ Inventories	- -	- -	25	- -	- -	- -	1	- -	- -	- -	1	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	25	- -	- -	- -	1	- -	- -	- -	1	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	7	12	32	79	38	47	44	56	62	63	73	88	6	4	4
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	408	571	512	541	587	769	753	927	978	1,052	1,161	1,289	1,458	1,643	1,866
+ Property, Plant & Equip, Net	360	479	420	444	491	675	661	838	- -	22	25	21	18	15	12
+ Property, Plant & Equip	505	616	527	540	590	782	782	971	- -	22	25	21	18	15	12
- Accumulated Depreciation	144	137	107	96	100	107	121	133	- -	- -	- -	- -	- -	- -	- -
+ LT Investments & Receivables	21	93	92	97	96	94	92	90	86	82	77	- -	- -	- -	- -
+ LT Investments	21	93	92	97	96	94	92	90	86	82	77	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	27	- -	- -	- -	- -	- -	- -	- -	892	948	1,059	1,267	1,440	1,628	1,854
+ Total Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	74	100	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	74	100	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	27	- -	- -	- -	- -	- -	- -	- -	892	948	1,059	1,267	1,366	1,528	1,854
Total Assets	427	635	641	682	688	897	877	1,073	1,162	1,212	1,350	1,467	1,562	1,822	1,974
+ Payables & Accruals	32	35	49	66	64	89	73	76	77	77	64	65	64	72	72
+ Accounts Payable	18	35	45	57	51	73	64	63	62	61	47	46	44	47	45
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	14	- -	4	8	12	16	10	13	14	16	17	19	21	25	27
+ ST Debt	- -	148	150	58	25	142	124	155	120	20	25	60	70	10	82
+ ST Borrowings	- -	148	150	58	25	142	124	155	120	20	25	60	70	10	82
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	15	-148	-150	-58	-25	-142	-124	-155	-120	-20	-25	-60	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	15	-148	-150	-58	-25	-142	-124	-155	-120	-20	-25	-60	- -	- -	- -
Total Current Liabilities	47	35	49	66	64	89	73	76	77	77	64	65	134	82	154
+ LT Debt	65	171	172	158	125	317	299	379	444	495	577	609	645	763	836
+ LT Borrowings	65	171	172	158	125	317	299	379	444	469	549	584	623	746	822
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	26	29	25	21	17	14
+ Other LT Liabilities	- -	58	46	43	92	84	75	64	60	51	48	48	23	22	21
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	58	46	43	92	84	75	64	60	51	48	48	23	22	21
Total Noncurrent Liabilities	65	228	218	201	217	401	373	443	504	546	625	656	668	785	857
Total Liabilities	112	263	268	267	280	490	446	519	581	622	690	722	802	867	1,012
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	368	461	462	463	464	465	486	605	639	657	723	819	823	1,054	1,089
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	1
+ Additional Paid in Capital	368	461	461	462	463	464	486	605	638	656	723	818	822	1,053	1,088
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-52	-89	-89	-48	-57	-58	-55	-52	-57	-67	-63	-74	-63	-94	-125
+ Other Equity	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-4	-2
Equity Before Minority Interest	315	372	373	415	407	407	431	554	581	589	660	745	760	956	962
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	315	372	373	415	407	407	431	554	581	589	660	745	760	956	962
Total Liabilities & Equity	427	635	641	682	688	897	877	1,073	1,162	1,212	1,350	1,467	1,562	1,822	1,974
Shares Outstanding	30	33	33	33	33	33	34	40	41	41	44	47	47	54	55
Capital Leases - Total	- -	- -	- -	- -	- -	- -	- -	- -	- -	26	29	25	21	17	14
Net Debt	59	311	306	204	147	455	410	514	518	467	519	619	685	753	895
Net Debt to Equity	18.66	83.43	82.02	49.14	36.17	111.98	95.1	92.77	89.05	79.28	78.65	83.09	90.12	78.78	93.08
Tangible Common Equity Ratio	73.73	58.6	58.19	60.83	59.2	45.33	49.12	51.61	50.02	48.64	48.88	50.79	46.08	49.67	48.75
Current Ratio	0.4	1.84	2.6	2.15	1.59	1.44	1.69	1.91	2.4	2.08	2.93	2.72	0.77	2.19	0.7
Cash Conversion Cycle	-695.42	-542.22	39.48	-4,339.53	-703.17	-775.47	-900.48	-952.93	-871.68	-847.45	-793.06	-785.84	-750.84	-685.46	-1,123.21
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Cash Flow Statement	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
+ Net Income	52	12	16	71	23	37	38	47	48	50	69	63	90	60	71
+ Depreciation & Amortization	8	10	10	10	11	15	19	21	26	28	34	40	45	51	60
+ Non-Cash Items	- -	49	26	-52	13	19	8	10	3	5	4	-9	-9	4	-1
+ Stock-Based Compensation	- -	1	1	1	1	1	1	1	2	2	3	4	5	6	6
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	20	30	-7	22	17	13	9	6	4	4	4	4	5	4
+ Other Non-Cash Adj	- -	29	-5	-45	-9	- -	-6	- -	-5	-2	-3	-17	-18	-7	-11
+ Chg in Non-Cash Work Cap	-3	-11	-36	15	-18	-22	-28	-19	-10	-6	-25	-8	-33	-10	- -
+ (Inc) Dec in Accts Receiv	- -	-15	-16	21	-1	-2	-2	-1	- -	-1	-1	- -	-1	-1	3
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	-8	- -	4	- -	- -	- -	-1	-1	-1	-1	-2	-2	1
+ Inc (Dec) in Accts Payable	- -	6	-3	10	-5	4	-2	1	2	8	-13	-1	-2	- -	1
+ Inc (Dec) in Other	-3	-2	-9	-16	-16	-23	-25	-20	-11	-13	-9	-6	-28	-6	-5
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	57	61	16	44	29	50	37	59	66	77	83	87	93	105	131
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	6	3	10	66	20	7	4	3	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	6	3	10	66	20	7	4	3	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	-1	-2	- -	- -	-1	-8	-215	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	-1	-2	- -	- -	-1	-8	-215	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	-65	2	-6	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	3	2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	-68	- -	-6	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-5	-131	-6	-67	3	-211	17	4	-79	-83	-127	-170	-139	-311	-200
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	1	-193	4	-7	24	-205	13	-209	-79	-83	-127	-170	-139	-311	-200
+ Dividends Paid	-52	-63	-8	-24	-29	-35	-36	-39	-51	-57	-63	-71	-78	-87	-100
+ Net Cash From Debt	-221	212	4	-107	-66	313	-39	110	30	-76	84	69	120	5	147
+ Cash From Debt	327	495	8	361	6	447	16	320	290	275	455	350	280	661	311
+ Repayments of Debt	-548	-283	-4	-468	-72	-134	-55	-210	-260	-351	-371	-281	-160	-656	-164
+ Cash (Repurchase) of Equity	108	92	- -	- -	- -	- -	15	117	30	14	63	92	- -	225	31
+ Increase in Capital Stock	108	92	- -	- -	- -	- -	15	118	30	14	63	92	- -	226	31
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	-1	- -	- -	- -	-1	- -	-1	- -
+ Other Financing Activities	110	-107	-6	90	33	-122	19	-30	31	99	-7	-38	-10	57	1
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-55	134	-10	-42	-62	156	-41	157	41	-19	78	52	31	199	78
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	3	2	9	-5	-9	1	9	8	28	-25	33	-31	-15	-6	8
Capital Expenditures	- -	-1	-2	- -	- -	-1	-8	-215	- -	- -	- -	- -	- -	- -	- -
EBITDA	54	36	39	52	52	60	75	86	95	98	109	114	150	143	168
EBITDA Margin (%)	69.22	38.8	40.25	50.69	52.36	54.61	65.18	71.4	70.08	69.51	74.23	73.64	90.42	77	82.66
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow	57	60	14	44	29	49	29	-156	66	77	83	87	93	105	131
Free Cash Flow to Firm	62	65	24	55	39	63	45	-138	89	101	109	111	121	137	170
Free Cash Flow to Equity	-158	275	28	3	-17	368	-6	-44	96	1	167	156	213	110	278
Free Cash Flow per Basic Share	2.04	1.81	0.43	1.31	0.88	1.47	0.85	-4.23	1.65	1.87	1.97	1.94	1.99	2.11	- -
Price/Free Cash Flow	7.41	3.93	18.36	7.81	12.19	7.13	12.58	2.5	12.82	13.24	11.13	13.89	15.12	13.07	- -
Cash Flow to Net Income	1.1	4.88	1.28	0.62	1.25	1.33	0.96	1.26	1.39	1.54	1.19	1.38	1.03	1.75	1.84

Getty Realty Corp.

Income Statement

Balance Sheet

Cash Flow Statement