ValueScreener company report

Sunrise Realty Trust, Inc. (SUNS)

Name: Sunrise Realty Trust, Inc. (SUNS) filed financial figures
Creator: ValueScreener

NASDAQ / Real Estate / REIT - Residential

Share price

6.39 USD Market dataClose of Oct 16, 2026

Market capitalisation

86.4M USD Market dataClose of Oct 16, 2026

Market data: Oct 16, 2026
Filed accounts: FY2025, filed Mar 12, 2026
Ratios computed: Oct 16, 2026
Filed years: 2, FY2024 to FY2025

Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means

SEC filingFiled with the SEC: Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement: What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data: Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener: Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.

Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Quality

Return on equity

6.7% Computed

From the FY2025 filing

Read quality

Financial strength

Debt to equity

n/a Computed

From the FY2025 filing

Why n/a

The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.

Read financial strength

Valuation

Price to book

0.45x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Dividend yield

18.8% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, by fiscal year

Revenue Net income3 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.

Named tests met: 2 of 30 Which tests

The business, and the score behind its five axes

The reading, in brief

Is it good

Return on equity was 6.7% in FY2025, in the band labelled "Likely below the cost of equity" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on shareholders' money below the usual cost of equity.

Today, against the Real Estate sector (221 companies), 6.7% sits at the 62nd percentile; the middle half of that group runs from -4.0% to 9.5%.

Year by year against peers: Whether Sunrise Realty Trust, Inc.'s return on equity stayed above the median of the Real Estate sector, year by year. (FY2023 to FY2025, 3 fiscal years of Sunrise Realty Trust, Inc. with a comparable figure)
What could explain it: What in Sunrise Realty Trust, Inc.'s filed statements could explain the movements. (2 readings drawn from the statement lines Sunrise Realty Trust, Inc. filed)
What to check next: What to check next on Sunrise Realty Trust, Inc., and where in its filings. (2 questions for Sunrise Realty Trust, Inc.)
In one paragraph: One paragraph on Sunrise Realty Trust, Inc.'s returns, cash, balance sheet and price. (2 of sixteen figures read for Sunrise Realty Trust, Inc.)

These are SUNS’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research SUNSPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Mar 12, 2026, accession 0001628280-26-017017.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Sunrise Realty Trust, Inc: returns on capital and margins, each with its source
Figure	Value, source and document
Return on invested capital, after tax Why n/a No operating income line is filed for this year.	n/a ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Return on equity	6.7% ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Return on capital employed, pre-tax Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Return on assets	3.9% ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Gross margin Why n/a No gross profit line is filed for this year.	n/a ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Operating margin Why n/a No operating income line is filed for this year.	n/a ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Net margin	56.3% ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017

SUNS 56.3%

-34.2%395.1%

Net margin: SUNS against the 3 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Sunrise Realty Trust, Inc: leverage, liquidity and distress, each with its source
Figure	Value, source and document
Debt to equity Why n/a The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.	n/a ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Current ratio Why n/m A property trust presents an unclassified balance sheet: buildings are long-lived assets and mortgage debt is drawn against them, so there is no split between current and non-current for a current ratio to divide. Look at net debt to EBITDA and interest coverage instead.	n/m ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Quick ratio Why n/m A property trust presents an unclassified balance sheet: buildings are long-lived assets and mortgage debt is drawn against them, so there is no split between current and non-current for a current ratio to divide. Look at net debt to EBITDA and interest coverage instead.	n/m ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Interest coverage Why n/a No operating income line is filed for this year.	n/a ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Altman Z-score Why n/m Altman's Z-Score rewards working capital and asset turnover, neither of which a property trust has. It reads distress for healthy REITs by construction, so we do not show it.	n/m ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Net debt Why n/a The FY2025 balance sheet carries no net debt we could read.	n/a ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017

Total assets Total liabilities Shareholders’ equity

The balance sheet, line by line

Financial health

What Sunrise Realty Trust, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 12, 2026, 0001628280-26-017017).

Sunrise Realty Trust, Inc: balance sheet position
Total assets	310.2M FiledFY2025 10-K, filed Mar 12, 2026
Total liabilities	128.3M FiledFY2025 10-K, filed Mar 12, 2026
Shareholders' equity	182.0M FiledFY2025 10-K, filed Mar 12, 2026
Cash	6.4M FiledFY2025 10-K, filed Mar 12, 2026
Total debt	n/a FiledFY2025 10-K, filed Mar 12, 2026
Net debt	n/a
Current ratio	n/m
Debt to equity	n/a

Debt to equity: FY2025: The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.
Current ratio: FY2025: A property trust presents an unclassified balance sheet: buildings are long-lived assets and mortgage debt is drawn against them, so there is no split between current and non-current for a current ratio to divide. Look at net debt to EBITDA and interest coverage instead.
Interest cover: FY2025: No operating income line is filed for this year.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Sunrise Realty Trust, Inc: what the market charges, each with its source
Figure	Value, source and document
Price to earnings Why n/m GAAP earnings for a property trust are charged with depreciation on buildings that are generally appreciating, so a P/E built on them overstates how expensive the trust is. Use price to FFO.	n/m ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
P/E on trailing twelve months	6.66x ComputedClose of Oct 16, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book	0.45x ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Price to sales	3.78x ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Enterprise value to EBIT Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Enterprise value to EBITDA Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Price to earnings over growth Why n/m GAAP earnings for a property trust are charged with depreciation on buildings that are generally appreciating, so a P/E built on them overstates how expensive the trust is. Use price to FFO.	n/m ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Diluted earnings per share	0.93 USD FiledFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Graham number	17.26 USD ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017

We publish no fair value or price target of our own. Value SUNS on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Sunrise Realty Trust, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Sunrise Realty Trust, Inc: valuation
Share price	6.39 USD
Market capitalisation	86.4M USD
Enterprise value to EBITDA	n/a
Graham number	17.26 USD
Diluted earnings per share, FY2025	0.93 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since May 7, 2025: low 6.03x, median 8.77x, high 11.15x, latest 6.66x. 364 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Sunrise Realty Trust, Inc

Same industry (REIT - Residential) and size band (Micro, 50M to 300M), nearest in market value and net margin. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Sunrise Realty Trust, Inc: cash generation and what is paid out, each with its source
Figure	Value, source and document
Free cash flow yield Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Free cash flow Why n/a The FY2025 filing carries no free cash flow we could read.	n/a ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Free cash flow margin Why n/a No free cash flow, and no operating cash flow and capital expenditure pair, is filed for this year.	n/a ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Dividend yield	18.8% ComputedClose of Oct 16, 2026 · FY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Payout ratio Why n/m A REIT pays out of funds from operations, not GAAP earnings. A payout ratio on earnings reads far above 100% for a perfectly safe distribution. Use the FFO payout ratio.	n/m ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017

Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Sunrise Realty Trust, Inc.: the eight ratios, with the fiscal year and filing date behind each.
Figure	Value	Year	As of
	n/m	FY2025	Oct 16, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaShare price / earnings per share. Where the filing states no earnings per share this listing can be priced on, which is every 20-F and 40-F filer because theirs is stated per ordinary share, it is market capitalisation / net income: the same multiple, undiluted. As ofThe close on Oct 16, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	0.45x	FY2025	Oct 16, 2026
FormulaMarket capitalisation / shareholders equity As ofThe close on Oct 16, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	n/a	FY2025	Oct 16, 2026
n/a The filed income statement reports no operating income.
Formula(Market capitalisation + total debt - cash) / operating income, or over the filing's own EBIT (income before tax + interest expense) where the filer tags no operating line, as Johnson & Johnson does not in any of its ten filed years. As ofThe close on Oct 16, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	n/a	FY2025	Oct 16, 2026
n/a The filed cash flow statement reports neither free cash flow nor the operating cash flow and capital spending it is built from.
FormulaFree cash flow per share / share price x 100 As ofThe close on Oct 16, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	n/a	FY2025	Mar 12, 2026
n/a No operating income line is filed for this year.
FormulaVendor trailing-twelve-month return on invested capital where one is published, which uses after-tax operating profit over total assets less current liabilities. Otherwise our own recompute: NOPAT / (shareholders equity + total debt - cash) x 100, where NOPAT is the filed operating profit after tax, or the filing's own EBIT after tax where the filer tags no operating line. As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	18.8%	FY2025	Oct 16, 2026
FormulaCommon dividends paid in the latest filed year / market capitalisation x 100. n/a where the filing cannot support it: a special or first-year payment, a total that mixes preferred dividends, or a cash-flow statement over 15 months old. As ofThe close on Oct 16, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	n/a	FY2025	Mar 12, 2026
n/a The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	n/m	FY2025	Mar 12, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	3.78x	FY2025	Oct 16, 2026
FormulaMarket capitalisation / revenue As ofThe close on Oct 16, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	n/m	FY2025	Oct 16, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Oct 16, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	n/m	FY2025	Oct 16, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
Formula1.2 x working capital/assets + 1.4 x retained earnings/assets + 3.3 x EBIT/assets + 0.6 x market value of equity/total liabilities + 1.0 x revenue/assets As ofThe close on Oct 16, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	n/m	FY2025	Mar 12, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaAn eight-variable index of year-on-year changes in receivables, gross margin, asset quality, revenue, depreciation, overheads, leverage and accruals As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab
	n/m	FY2025	Mar 12, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
FormulaOne point each for: positive return on assets, positive operating cash flow, rising return on assets, operating cash flow above net income, falling leverage, rising current ratio, no new shares issued, rising gross margin, rising asset turnover. As ofThe filing date of the statements below, for FY2025. Form10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itIncome statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tabForm10-KFiledMar 12, 2026PeriodFY2025Accession0001628280-26-017017What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001628280-26-017017, leaves this page and opens in a new tab

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 2 filed fiscal years on record, FY2024 to FY2025, from SEC EDGAR. Prices as of Oct 16, 2026. Ratios recomputed Oct 16, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

3 fiscal years, FY2023 to FY2025. 2 read from the annual reports Sunrise Realty Trust, Inc filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

Sunrise Realty Trust, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
Year	Revenue	Operating income	Net income	EPS, diluted	Free cash flow	Operating margin	Return on equity	Filing
FY2025	21.6M	n/a	12.1M	0.93	n/a	n/a	6.7%	10-K, Mar 12, 20260001628280-26-017017
FY2024	10.6M	n/a	6.9M	1.00	n/a	n/a	6.0%	10-K, Mar 6, 20250002012706-25-000004
FY2023	734.2K	703.9K	703.9K	0.10	244.6K	95.9%	2.3%	Market data, supplied Oct 15, 2026accession n/a

Revenue, compound annual growth FY2023 to FY2025: 442.0%
Earnings, compound annual growth FY2023 to FY2025: 315.3%
Earnings per share, compound annual growth FY2023 to FY2025: 205.0%
Free cash flow: Fewer than two filed years carry free cash flow.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Sunrise Realty Trust, Inc: accounting screens and published tests, each with its source
Figure	Value, source and document
Beneish M-score Why n/m The Beneish M-Score is built on gross margin, receivables and asset quality indices estimated on non-financial firms. Those inputs are not defined here.	n/m ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Piotroski F-score Why n/m 2 of the nine Piotroski signals are undefined for an equity REIT: signal 6 (rising current ratio), signal 8 (rising gross margin). We do not publish a partial score under the full score's name.	n/m ComputedFY2025 10-K, filed Mar 12, 2026, 0001628280-26-017017
Named tests met	2 of 30 Computed
Beta	0.65 ComputedClose of Oct 16, 2026

The named tests

Of 30 tests value investors published: 2 met, 9 not met, 19 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)

Meets: P/E times P/B (Benjamin Graham); Cheapest quarter on P/B (David Dreman)
Does not: Large cap, low P/E; High returns and growth; Gross margin, turnover (Robert Novy-Marx); Dividends and buybacks; Low beta, profitable; High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy)
Not measured: Defensive investor (Benjamin Graham); Deep value; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); EV/EBITDA and coverage; High yield, low payout; ROIC at or above WACC; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); Book or below, low debt (Walter Schloss); Cash-covered dividend; Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.

Figures we could not read(21)

Current Ratio: A property trust presents an unclassified balance sheet: buildings are long-lived assets and mortgage debt is drawn against them, so there is no split between current and non-current for a current ratio to divide. Look at net debt to EBITDA and interest coverage instead.
Debt to Equity: The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.
Positive Earnings Streak: We hold 3 profitable filed years in a row; the test needs 10.
Piotroski F-Score: 2 of the nine Piotroski signals are undefined for an equity REIT: signal 6 (rising current ratio), signal 8 (rising gross margin). We do not publish a partial score under the full score's name.
P/E Ratio: GAAP earnings for a property trust are charged with depreciation on buildings that are generally appreciating, so a P/E built on them overstates how expensive the trust is. Use price to FFO.
EV/EBIT: We do not hold this figure for this company, so there is nothing to show.
Return on Invested Capital: No operating income line is filed for this year.
Altman Z-Score: Altman's Z-Score rewards working capital and asset turnover, neither of which a property trust has. It reads distress for healthy REITs by construction, so we do not show it.
Beneish M-Score: The Beneish M-Score is built on gross margin, receivables and asset quality indices estimated on non-financial firms. Those inputs are not defined here.
PEG Ratio: GAAP earnings for a property trust are charged with depreciation on buildings that are generally appreciating, so a P/E built on them overstates how expensive the trust is. Use price to FFO.
Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
Rev Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
Gross Margin: No gross profit line is filed for this year.
EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
Interest Coverage: No operating income line is filed for this year.
Payout Ratio: A REIT pays out of funds from operations, not GAAP earnings. A payout ratio on earnings reads far above 100% for a perfectly safe distribution. Use the FFO payout ratio.
Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
Price To Ncav: Net current asset value needs current assets, which an unclassified balance sheet does not report.
Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
Dividend Coverage Ratio: Distribution coverage for a REIT is measured against funds from operations, not against free cash flow computed after acquisition capital expenditure.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

Value it in the DCF workbench

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

What this cannot tell you

21 figures could not be read on this company, among them Current Ratio, Debt to Equity, Positive Earnings Streak. Each blank in the table above names the rest, with its reason. 19 named tests come back incomplete because of them, which is neither met nor missed.
We hold 2 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

Monitor my portfolio How this is computed

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Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Four questions, at a glance

Quality

Financial strength

Valuation

Cash generation

Revenue and net income, by fiscal year

The reading, in brief

Financial health

Valuation

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The filed figures

Ten years of filed figures

The named tests

What this cannot tell you

Margin Notes