Seritage Growth Properties

SRG

SRGSeritage Growth Properties US flag

New York Stock Exchange

2.78

USD

-0.05

- -

156.58MMarket Cap

Income Statement (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	- -	249	241	215	169	116	117	107	21	18	18
+ Sales & Services Revenue	- -	249	241	215	169	116	117	107	21	18	18
- Cost of Revenue	- -	65	65	71	81	78	80	66	27	20	16
+ Cost of Goods & Services	- -	65	65	71	81	78	80	66	27	20	16
Gross Profit	- -	183	176	144	88	39	36	41	-7	-3	2
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	- -	195	290	262	144	125	93	89	60	43	38
+ Selling, General & Admin	- -	17	28	35	39	29	42	48	46	30	32
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	- -	177	262	227	105	96	51	41	14	13	6
Operating Income (Loss)	- -	-11	-115	-118	-56	-86	-57	-47	-67	-46	-36
- Non-Operating (Income) Loss	- -	79	6	-4	35	66	-18	72	88	106	32
+ Interest Expense, Net	- -	63	69	82	88	88	99	49	28	22	19
+ Interest Expense	- -	64	70	90	95	91	108	87	45	25	20
- Interest Income	- -	- -	1	8	7	3	9	38	17	3	2
+ Other Non-Op (Income) Loss	- -	16	-63	-86	-53	-21	-117	23	60	84	13
Pretax Income	- -	-91	-121	-115	-90	-153	-39	-120	-155	-152	-68
- Income Tax Expense (Benefit)	- -	1	- -	- -	- -	- -	- -	- -	- -	2	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	- -	-91	-121	-115	-91	-153	-39	-120	-155	-154	-68
- Net Extraordinary Losses (Gains)	- -	-79	-94	-83	-62	-96	-22	-92	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	-79	-94	-83	-62	-96	-22	-92	- -	- -	- -
Income (Loss) Incl. MI	- -	-12	-27	-32	-28	-57	-17	-28	-155	-154	-68
- Minority Interest	- -	39	47	41	31	48	11	46	- -	- -	- -
Net Income, GAAP	- -	-52	-74	-73	-59	-105	-28	-74	-155	-154	-68
- Preferred Dividends	- -	- -	- -	5	5	5	5	5	5	5	5
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	- -	-52	-74	-78	-64	-110	-33	-79	-160	-158	-73
EBIT	- -	-11	-115	-118	-56	-86	-57	-47	-67	-46	-36
EBITDA	- -	165	147	108	48	8	-5	-6	-52	-32	-30
EBITDA Margin (%)	- -	66.38	60.94	50.19	28.62	6.8	-4.59	-5.68	-252.38	-184.34	-164.97
EBITA	- -	-11	-115	-118	-56	-86	-57	-47	-67	-46	-36
Gross Margin (%)	- -	73.78	72.88	66.87	52.13	33.1	31.21	38.61	-31.91	-15.05	9.7
Operating Margin (%)	- -	-4.57	-47.53	-55	-33.1	-74.07	-48.62	-44.29	-322.87	-259.85	-200.32
Profit Margin (%)	- -	-20.73	-30.6	-34.21	-35.22	-90.15	-24.12	-69.07	-745.52	-871.27	-374.73
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	1.25	1.01	1.12	0.63	0.13	0.12	0.1	0.09	0.09	0.09
Depreciation Expense	- -	176	261	226	104	94	51	41	15	13	6
Basic Weighted Avg Shares	- -	31	34	36	36	38	42	50	56	56	56
Basic EPS, GAAP	- -	-1.64	-2.19	-2.2	-1.77	-2.87	-0.78	-1.59	-2.85	-2.82	-1.3
Basic EPS from Cont Ops	- -	-2.9	-3.57	-3.23	-2.49	-3.99	-0.92	-2.42	-2.76	-2.73	-1.21
Diluted Weighted Avg Shares	- -	31	34	36	36	38	42	50	56	56	56
Diluted EPS, GAAP	- -	-1.64	-2.19	-2.2	-1.77	-2.87	-0.78	-1.59	-2.85	-2.82	-1.3
Diluted EPS from Cont Ops	- -	-2.9	-3.57	-3.23	-2.49	-3.99	-0.92	-2.42	-2.76	-2.73	-1.21

Balance Sheet (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	188	178	468	603	267	262	143	642	201	106	75
+ Cash, Cash Equivalents & STI	63	52	242	533	139	144	107	133	134	85	48
+ Cash & Cash Equivalents	63	52	242	533	139	144	107	133	134	85	48
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	10	23	31	37	54	47	29	41	12	8	4
+ Accounts Receivable, Net	10	23	31	37	54	47	29	41	12	8	4
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	116	103	196	33	73	72	7	467	55	13	23
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	2,645	2,534	2,308	2,273	2,484	2,386	2,271	1,200	773	572	319
+ Property, Plant & Equip, Net	1,639	1,645	1,715	- -	- -	- -	- -	- -	- -	- -	- -
+ Property, Plant & Equip	1,668	1,735	1,854	- -	- -	- -	- -	- -	- -	- -	- -
- Accumulated Depreciation	29	90	139	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments & Receivables	427	425	283	399	445	457	499	383	196	190	156
+ LT Investments	427	425	283	399	445	457	499	383	196	190	156
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	579	464	310	1,875	2,039	1,929	1,773	817	576	382	163
+ Total Intangible Assets	579	464	310	124	68	19	15	2	1	1	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Intangible Assets	579	464	310	124	68	19	15	2	1	1	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	- -	- -	1,751	1,971	1,911	1,758	815	575	381	163
Total Assets	2,833	2,712	2,776	2,876	2,751	2,649	2,414	1,842	974	678	394
+ Payables & Accruals	78	83	66	128	109	147	109	89	51	32	13
+ Accounts Payable	14	16	10	28	- -	- -	- -	- -	- -	- -	- -
+ Accrued Taxes	25	24	17	14	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	39	43	40	85	109	147	109	89	51	32	13
+ ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Borrowings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	1	6	15	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	1	6	15	4	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	-4	- -	- -	- -	- -	- -	- -	- -
Total Current Liabilities	80	89	81	128	109	147	109	89	51	32	13
+ LT Debt	1,142	1,167	1,346	1,598	1,598	1,619	1,460	1,030	360	240	48
+ LT Borrowings	1,142	1,167	1,346	1,598	1,598	1,599	1,439	1,030	360	240	48
+ LT Finance Leases	- -	- -	- -	- -	- -	20	21	- -	- -	- -	- -
+ Other LT Liabilities	41	33	28	- -	- -	- -	- -	- -	- -	- -	- -
+ Accrued Liabilities	10	4	3	17	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	31	28	26	-17	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Liabilities	1,184	1,199	1,374	1,598	1,598	1,619	1,460	1,030	360	240	48
Total Liabilities	1,263	1,288	1,455	1,726	1,707	1,766	1,569	1,119	411	272	61
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	925	926	1,116	1,125	1,150	1,178	1,241	1,361	1,362	1,363	1,363
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	1	1	1	1
+ Additional Paid in Capital	925	926	1,116	1,125	1,150	1,177	1,241	1,360	1,362	1,363	1,363
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-38	-121	-230	-344	-419	-529	-554	-641	-800	-959	-1,032
+ Other Equity	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Equity Before Minority Interest	887	805	887	781	731	649	688	720	562	404	331
+ Minority/Non Controlling Interest	683	620	434	370	312	234	157	2	1	1	1
Total Equity	1,570	1,424	1,321	1,150	1,043	883	845	723	563	406	333
Total Liabilities & Equity	2,833	2,712	2,776	2,876	2,751	2,649	2,414	1,842	974	678	394
Shares Outstanding	32	32	36	36	37	39	44	56	56	56	56
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	20	21	- -	- -	- -	- -
Net Debt	1,080	1,115	1,104	1,065	1,459	1,455	1,333	896	226	155	- -
Net Debt to Equity	68.76	78.27	83.58	92.59	139.86	164.85	157.76	124.03	40.13	38.15	-0.12
Tangible Common Equity Ratio	43.97	42.7	40.99	37.3	36.35	32.85	34.59	39.17	57.79	59.81	84.5
Current Ratio	2.36	2.01	5.78	4.73	2.45	1.79	1.31	7.18	3.97	3.3	5.61
Cash Conversion Cycle	- -	-59.38	-30.75	-39.04	35.46	158.29	118.37	120.36	472	208.58	115.88

Cash Flow Statement (USD)

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	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	- -	-91	-121	-115	-91	-153	-39	-120	-155	-154	-68
+ Depreciation & Amortization	- -	176	261	226	104	94	51	41	15	13	6
+ Non-Cash Items	- -	-7	-47	-61	-61	-19	-115	-10	80	94	20
+ Stock-Based Compensation	- -	1	7	7	7	-3	2	3	3	1	- -
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Asset Impairment Charge	- -	- -	- -	- -	- -	64	96	127	107	88	19
+ Other Non-Cash Adj	- -	-8	-54	-69	-67	-80	-212	-140	-30	5	1
+ Chg in Non-Cash Work Cap	- -	19	-34	5	-11	30	-34	-29	7	-7	7
+ (Inc) Dec in Accts Receiv	- -	- -	-5	- -	3	10	6	-11	13	5	2
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	6	-8	-10	-5	- -	-4	3	6	1	-1
+ Inc (Dec) in Accts Payable	- -	12	-21	15	-8	21	-36	-21	-11	-13	6
+ Inc (Dec) in Other	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	- -	97	60	55	-58	-47	-136	-118	-53	-54	-35
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	51	210	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	51	210	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	-66	-243	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	-66	-243	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	-2	-4	- -	- -	- -	- -	-1	- -
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	-2	-4	- -	- -	- -	- -	-1	- -
+ Net Change in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Dec in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc in LT Investment	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Acq & Div	- -	-9	219	-27	-54	-43	-39	30	-13	-9	8
+ Cash from Divestitures	- -	- -	257	- -	- -	20	- -	56	- -	- -	8
+ Cash for Acq of Subs	- -	-9	-38	-27	-54	-63	-39	-26	-13	-9	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	13	10	-303	-245	86	299	556	746	136	191
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	- -	-62	37	-119	-299	43	261	586	733	127	198
+ Dividends Paid	- -	-39	-34	-40	-23	-5	-5	-5	-5	-5	-5
+ Net Cash From Debt	- -	20	174	244	- -	20	-160	-432	-670	-120	-190
+ Cash From Debt	- -	20	310	1,600	- -	20	- -	- -	- -	- -	- -
+ Repayments of Debt	- -	- -	-136	-1,356	- -	- -	-160	-432	-670	-120	-190
+ Other Financing Activities	- -	-31	41	-23	-10	- -	4	- -	- -	- -	-4
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	- -	-50	181	180	-36	15	-161	-437	-675	-125	-199
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	- -	-16	278	116	-394	11	-37	31	5	-52	-35
EBITDA	- -	165	147	108	48	8	-5	-6	-52	-32	-30
EBITDA Margin (%)	- -	66.38	60.94	50.19	28.62	6.8	-4.59	-5.68	-252.38	-184.34	-164.97
Free Cash Flow	- -	31	-183	55	-58	-47	-136	-118	-53	-54	-35
Net Cash Paid for Acquisitions	- -	9	-219	27	54	43	39	-30	13	9	-8
Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Equity	- -	51	42	505	-63	-32	-301	-555	-728	-178	-230
Free Cash Flow per Basic Share	- -	0.99	-5.43	1.54	-1.58	-1.24	-3.21	-2.37	-0.94	-0.95	-0.62
Price/Free Cash Flow	- -	8.21	4.52	20.94	-25.31	-11.88	-4.14	-4.99	-9.89	-4.33	-5.24
Cash Flow to Net Income	- -	-1.89	-0.81	-0.75	0.97	0.45	4.83	1.59	0.34	0.35	0.51
Capital Expenditures	- -	-66	-243	- -	- -	- -	- -	- -	- -	- -	- -