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Page: Company Financials

Golden Ventures Leasehold Real Estate Investment Trust

Ticker: GVREIT.BK | Industry: REIT - Office | Sector: Real Estate
$6.50 0.00 (0.00%)
As of: 2026-01-27

Master Data Export

Enterprise Value

Metric 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016
Stock Price 6.52 5.89 7.39 9.23 10.43 13.18 16.50 14.63 14.28 13.40
Market Capitalization 5,309.78M 4,797.14M 6,019.34M 7,516.53M 8,494.29M 10,734.99M 13,443.77M 11,916.56M 11,630.49M 8,881.32M
(-) Cash & Equivalents 64.35M 73.07M 201.40M 83.02M 55.05M 47.15M 82.42M 121.77M 115.04M 276.78M
(+) Total Debt 2,708.16M 2,739.07M 2,783.22M 2,807.92M 2,832.93M 2,210.44M 1,997.68M 1,998.56M 2,000.00M 1,500.00M
Enterprise Value 7,953.59M 7,463.13M 8,601.16M 10,241.43M 11,272.17M 12,898.27M 15,359.03M 13,793.35M 13,515.46M 10,104.54M

Income Statement

Metric TTM TTM-1 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30 2020-09-30 2019-09-30 2018-09-30 2017-09-30 2016-09-30
Revenue 1,122M 1,147M 1,122M 1,134M 1,161M 1,131M 1,113M 1,179M 1,209M 1,136M 1,083M 540M
Cost of Revenue 302M 310M 302M 311M 308M 283M 278M 354M 348M 311M 287M 161M
Gross Profit 820M 838M 820M 822M 853M 847M 835M 825M 861M 825M 796M 378M
Gross Profit Margin 73.1% 73.0% 73.1% 72.6% 73.5% 74.9% 75.0% 69.9% 71.2% 72.6% 73.5% 70.1%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 35M 22M 35M 22M 29M 10M 4M 4M 4M 4M 3M 0M
Operating Expenses 35M 12M 35M 22M 29M 10M 4M 4M 4M 4M 3M 200M
Operating Income (EBIT) 784M 826M 784M 800M 824M 838M 831M 820M 857M 821M 793M 178M
Operating Income Margin 69.9% 72.0% 69.9% 70.6% 71.0% 74.1% 74.7% 69.6% 70.9% 72.2% 73.2% 33.0%
Interest Income 1M 2M 1M 2M 2M 0M 0M 0M 1M 1M 1M 0M
Interest Expense 101M 103M 101M 103M 105M 105M 108M 73M 73M 59M 74M 0M
Net Interest Income -101M -102M -101M -102M -103M -105M -108M -73M -71M -58M -72M 0M
Unusual Items -516M -266M -516M -241M -155M -90M -18M 0M 102M 296M -73M 213M
EBT Excluding Unusual Items 684M 724M 684M 699M 721M 733M 723M 748M 786M 763M 720M 178M
Pre-Tax Income 168M 458M 168M 458M 566M 643M 705M 747M 888M 1,059M 647M 391M
Pre-Tax Margin 15.0% 39.9% 15.0% 40.4% 48.7% 56.8% 63.4% 63.4% 73.5% 93.2% 59.8% 72.4%
Income Tax Expense 0M 0M 0M 0M 0M 0M 0M 47M 46M 0M 0M 375M
Net Income 168M 458M 168M 458M 566M 643M 705M 747M 888M 1,059M 647M 244M
Net Income Margin 15.0% 39.9% 15.0% 40.4% 48.7% 56.8% 63.4% 63.4% 73.5% 93.2% 59.8% 45.3%
Depreciation & Amortization 0M -203M 0M -813M -154M 288M 14M 462M 448M 396M 391M 203M
EBITDA 784M 623M 784M -12M 671M 1,126M 845M 1,282M 1,305M 1,216M 1,183M 381M
EBITDA Margin 69.9% 54.3% 69.9% -1.1% 57.8% 99.6% 76.0% 108.7% 107.9% 107.1% 109.3% 70.7%
NOPAT 784M 826M 784M 800M 824M 838M 831M 769M 813M 821M 793M 7M
NOPAT Margin 69.9% 72.0% 69.9% 70.6% 71.0% 74.1% 74.7% 65.2% 67.2% 72.2% 73.2% 1.3%
Owner's Earnings 168M 255M 168M -355M 412M 931M 719M 1,209M 1,336M 1,455M 1,038M 448M
Owner's Earnings Margin 15.0% 22.2% 15.0% -31.3% 35.5% 82.3% 64.6% 102.5% 110.5% 128.0% 95.8% 83.0%
EPS (Basic) 0.21 0.56 0.21 0.56 0.69 0.79 0.87 0.92 1.09 1.30 0.79 0.30
EPS (Diluted) 0.21 0.56 0.21 0.56 0.69 0.79 0.87 0.92 1.09 1.30 0.79 0.30
Shares (Basic) 815M 815M 815M 815M 815M 815M 815M 815M 815M 815M 815M 815M
Shares (Diluted) 815M 815M 815M 815M 815M 815M 815M 815M 815M 815M 815M 815M

Balance Sheet

Metric MRQ MRQ-1 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30 2020-09-30 2019-09-30 2018-09-30 2017-09-30 2016-09-30
Cash & Cash Equivalents 54.73M 58.38M 54.73M 78.97M 209.73M 40.47M 55.56M 37.16M 52.88M 91.00M 134.65M 113.58M
Short-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 54.73M 58.38M 54.73M 78.97M 209.73M 40.47M 55.56M 37.16M 52.88M 91.00M 134.65M 113.58M
Net Receivables 18.21M 21.86M 18.21M 17.75M 17.52M 11.48M 21.27M 33.44M 17.96M 15.10M 24.71M 196.50M
Inventory 0.00M 0.00M 0.00M 0.00M 229.76M -1,265.74M 0.00M 0.24M 16.69M 17.11M 21.53M 25.03M
Other Current Assets 0.00M 0.00M 0.00M 0.00M -229.09M 1,265.77M 0.04M -0.20M 0.00M 0.00M 0.00M 0.00M
Total Current Assets 72.94M 80.24M 72.94M 96.72M 227.91M 51.98M 76.87M 70.65M 87.54M 123.21M 180.90M 335.10M
Property, Plant & Equipment 0.00M 0.00M 0.00M 0.00M 10,730.72M 10,889.54M 10,988.79M 10,197.80M 10,181.00M 10,066.50M 9,756.00M 9,814.00M
Goodwill 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Long-Term Investments 1,285.56M 1,314.32M 1,285.56M 1,251.28M 1,145.66M 1,265.74M 0.00M 1,060.05M 943.01M 773.71M 521.22M 250.04M
Tax Assets 0.00M 0.00M 0.00M 0.00M 0.00M 12,212.53M 12,200.03M 11,348.11M 11,259.26M 11,041.18M 10,561.51M 10,537.58M
Other Non-Current Assets 10,008.83M 10,586.85M 10,008.83M 10,540.19M 4.94M 3.46M 1,131.35M 16.76M 45.98M 10,142.52M 9,861.85M 9,950.38M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -5.40M 0.00M 0.00M
Total Non-Current Assets 11,294.39M 11,901.17M 11,294.39M 11,791.47M 11,881.32M 24,371.26M 24,320.17M 22,622.72M 22,429.26M 32,018.51M 30,700.58M 30,552.00M
Total Assets 11,367.33M 11,981.41M 11,367.33M 11,888.19M 12,109.23M 24,423.23M 24,397.04M 22,693.37M 22,516.79M 32,141.71M 30,881.48M 30,887.10M
Accounts Payable 0.00M 18.36M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 17.12M 15.62M 17.20M
Short-Term Debt 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Tax Payables 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Revenue 35.32M 313.12M 35.32M 30.76M 36.78M 35.52M 27.94M 24.88M 23.32M 19.42M 14.29M 8.58M
Other Current Liabilities 0.00M 0.00M 0.00M 0.00M -10.43M 0.00M 0.00M 0.00M -23.32M -19.42M -51.20M -38.34M
Total Current Liabilities 35.32M 331.48M 35.32M 30.76M 26.35M 35.52M 27.94M 24.88M 0.00M 17.12M -21.29M -12.56M
Long-Term Debt 1,999.43M 1,999.35M 1,999.43M 1,999.09M 1,998.76M 1,998.44M 1,998.14M 1,997.84M 1,997.55M 1,997.55M 2,000.00M 2,000.00M
Capital Lease Obligations 678.00M 727.77M 678.00M 706.47M 751.16M 794.12M 801.92M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 0.00M -320.59M -316.73M 0.00M -313.57M -326.09M -2,272.64M -286.41M -260.18M
Other Non-Current Liabilities 288.55M 16.90M 288.55M 299.13M 327.75M 284.72M -10.72M 3.80M 5.76M 5.43M 330.18M 296.26M
Total Non-Current Liabilities 2,965.98M 2,744.02M 2,965.98M 3,004.69M 2,757.07M 2,760.56M 2,789.35M 1,688.07M 1,677.23M -269.66M 2,043.77M 2,036.07M
Total Liabilities 3,001.30M 3,075.50M 3,001.30M 3,035.45M 2,783.42M 2,796.07M 2,817.28M 1,712.95M 1,677.23M -252.54M 2,022.48M 2,023.51M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 802.71M 602.02M 169.53M 76.02M
Common Stock 8,046.15M 8,046.15M 8,046.15M 8,046.15M 8,046.15M 8,046.15M 8,046.15M 8,046.15M 8,046.15M 8,046.15M 8,046.15M 8,148.00M
Retained Earnings 224.97M 817.25M 224.97M 708.81M 889.37M 963.76M 943.93M 883.38M 802.71M 602.02M 169.53M 76.02M
Accumulated OCI 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 8,648.17M 8,215.68M 8,224.02M
Minority Interest 0.00M 0.00M 0.00M 0.00M 0.00M 2,752.10M 2,744.50M 1,960.68M 1,944.67M 1,906.55M 1,865.35M 1,886.43M
Total Shareholders’ Equity 8,271.12M 8,863.40M 8,271.12M 8,754.96M 8,935.52M 9,009.91M 8,990.08M 8,929.53M 9,651.57M 17,898.35M 16,600.90M 16,524.07M
Total Equity 8,271.12M 8,863.40M 8,271.12M 8,754.96M 8,935.52M 11,762.01M 11,734.58M 10,890.21M 11,596.24M 19,804.90M 18,466.25M 18,410.49M
Total Liabilities & Equity 11,272.42M 11,938.90M 11,272.42M 11,790.41M 11,718.94M 14,558.08M 14,551.87M 12,603.16M 13,273.47M 19,552.36M 20,488.72M 20,434.01M
Tangible Assets 11,367.33M 11,981.41M 11,367.33M 11,888.19M 12,109.23M 24,423.23M 24,397.04M 22,693.37M 22,516.79M 32,141.71M 30,881.48M 30,887.10M
Tangible Equity 8,271.12M 8,863.40M 8,271.12M 8,754.96M 8,935.52M 11,762.01M 11,734.58M 10,890.21M 11,596.24M 19,804.90M 18,466.25M 18,410.49M
Tangible Book Value 8,271.12M 8,863.40M 8,271.12M 8,754.96M 8,935.52M 11,762.01M 11,734.58M 10,890.21M 11,596.24M 19,804.90M 18,466.25M 18,410.49M
Total Investments 1,285.56M 1,314.32M 1,285.56M 1,251.28M 2,291.32M 1,265.74M 0.00M 1,060.05M 943.01M 773.71M 521.22M 250.04M
Net Debt 1,944.70M 1,940.97M 1,944.70M 1,920.13M 1,789.03M 1,957.98M 1,942.58M 1,960.68M 1,944.67M 1,906.55M 1,865.35M 1,886.42M

Capital Metrics

Metric MRQ MRQ-1 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30 2020-09-30 2019-09-30 2018-09-30 2017-09-30 2016-09-30
Working Capital -57.3M -293.8M -57.3M -31.8M 105.5M -71.5M -13.1M -54.7M -15.1M 32.5M 111.6M 281.5M
Total Capital 10,948.6M 11,590.5M 10,948.6M 11,460.5M 11,685.4M 11,802.5M 11,790.1M 10,927.4M 10,846.4M 10,645.7M 10,215.7M 10,224.0M
Capital Employed 11,237.1M 11,607.4M 11,237.1M 11,759.7M 11,986.8M 12,087.2M 12,107.1M 11,219.9M 11,154.9M 10,943.4M 10,494.7M 10,481.9M
Invested Capital 10,893.8M 11,532.1M 10,893.8M 11,381.6M 11,475.7M 11,762.0M 11,734.6M 10,890.2M 10,793.5M 10,554.7M 10,081.0M 10,110.4M

Cash Flow Statement

Metric TTM TTM-1 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30 2020-09-30 2019-09-30 2018-09-30 2017-09-30 2016-09-30
Net Income 167.76M 457.67M 167.76M 457.67M 565.72M 642.74M 705.21M 747.18M 888.30M 1,059.23M 647.33M 244.28M
Depreciation & Amortization 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 14.15M 30.11M 30.02M 30.02M 30.02M 15.88M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -1.00M 3.16M -8.83M 3.16M 7.79M -0.23M 30.74M 6.87M 14.88M 38.01M 205.21M -10,072.56M
Accounts Receivable -0.79M 0.14M -0.79M 0.14M -6.04M 9.80M 12.16M -15.70M -3.00M 5.50M -7.06M -195.94M
Inventory 0.00M 0.00M 0.00M 0.00M -7.56M 0.00M 3.11M 27.90M 15.55M 5.78M 187.62M 0.00M
Accounts Payable -2.53M 14.41M -2.46M 14.41M 7.56M 4.67M 1.38M 7.18M -12.12M 1.50M -1.58M 17.20M
Other Working Capital 2.32M -11.39M -5.58M -11.39M 13.83M -14.70M 17.19M -12.52M 14.45M 25.23M 26.23M -9,893.82M
Other Non-Cash Items 567.52M 294.36M 597.84M 194.24M 383.05M 66.55M 60.40M -60.57M -211.11M -473.72M -139.44M 306.94M
Net Cash from Operating Activities 734.27M 755.20M 756.77M 655.07M 956.57M 709.06M 810.50M 723.59M 722.10M 623.51M 743.12M -9,715.96M
Capital Expenditures (PPE) 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Acquisitions (Net) 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments -473.89M -472.99M -473.89M -472.99M -76.12M -710.30M -1,742.16M -1,247.88M -1,054.49M -0.01M 0.00M 0.00M
Sales / Maturities of Investments 440.00M 312.00M 440.00M 312.00M 201.29M 577.50M 1,681.67M 1,355.90M 1,208.01M 243.60M 0.00M 0.00M
Other Investing Activities 56.39M 0.00M 33.89M 160.99M 0.00M 0.00M 0.00M -216.04M -307.04M 0.00M 0.00M 0.00M
Net Cash from Investing Activities 22.50M -160.99M 0.00M 0.00M 125.17M -132.80M -60.49M -108.02M -153.52M -243.59M 0.00M 0.00M
Net Debt Issuance 0.00M 0.00M -56.84M -74.84M -74.84M -38.84M -74.84M 0.00M 0.00M 0.00M 0.00M 2,000.00M
Long-Term Debt Issuance 0.00M 0.00M -56.84M -74.84M -74.84M -38.84M -74.84M 0.00M 0.00M 0.00M 0.00M 2,000.00M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -101.85M 8,148.00M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 8,148.00M
Common Stock Repurchased 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M -101.85M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -651.57M -638.20M -651.57M -638.20M -639.87M -612.72M -644.67M -666.50M -687.62M -626.69M -553.81M -168.26M
Common Dividends Paid -491.46M -638.20M -651.57M -638.20M -639.87M -612.72M -644.67M -666.50M -687.62M -626.69M -553.81M -168.26M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities -129.44M -74.84M -72.60M -72.80M -72.60M -72.60M -72.60M -72.80M -72.60M -40.48M -66.38M -150.21M
Net Cash from Financing Activities -781.00M -713.04M -781.00M -785.83M -787.31M -724.15M -792.10M -739.30M -760.22M -667.16M -722.04M 9,829.53M
Effect of FX on Cash 3.58M -1.58M 0.00M 0.00M 0.00M 132.80M 60.49M 108.02M 153.52M 0.00M 0.00M 0.00M
Net Change in Cash -20.65M -130.76M -24.24M -130.76M 169.26M -15.09M 18.39M -15.72M -38.12M -43.65M 21.08M 113.58M
Cash at Beginning of Period 272.08M 475.40M 78.97M 209.73M 40.47M 55.56M 37.16M 52.88M 91.00M 134.65M 113.58M 0.00M
Cash at End of Period 251.42M 344.64M 54.73M 78.97M 209.73M 40.47M 55.56M 37.16M 52.88M 91.00M 134.65M 113.58M
Operating Cash Flow 734.27M 755.20M 756.77M 655.07M 956.57M 709.06M 810.50M 723.59M 722.10M 623.51M 743.12M -9,715.96M
Capital Expenditure 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Free Cash Flow 734.27M 755.20M 756.77M 655.07M 956.57M 709.06M 810.50M 723.59M 722.10M 623.51M 743.12M -9,715.96M

Free Cash Flow

Metric TTM TTM-1 2025-09-30 2024-09-30 2023-09-30 2022-09-30 2021-09-30 2020-09-30 2019-09-30 2018-09-30 2017-09-30 2016-09-30
EBITDA 784.22M 613.44M 784.22M -12.18M 670.51M 1,126.18M 845.16M 1,282.02M 1,304.73M 1,216.43M 1,183.34M 581.69M
(-) Tax Adjustment 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 80.94M 67.49M 0.00M 0.00M 203.59M
(-) Change In Working Capital -1.00M 3.16M -8.83M 3.16M 7.79M -0.23M 30.74M 6.87M 14.88M 38.01M 205.21M -10,072.56M
(-) Capital Expenditure 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Unlevered Free Cash Flow 785.22M 610.28M 793.05M -15.34M 662.72M 1,126.41M 814.42M 1,194.21M 1,222.35M 1,178.42M 978.13M 10,450.66M
(-) Net Interest Income After Taxes -100.64M -101.63M -100.64M -101.63M -103.14M -104.99M -107.78M -68.16M -67.68M -57.81M -72.26M 0.00M
Net Debt Issuance 0.00M 0.00M -56.84M -74.84M -74.84M -38.84M -74.84M 0.00M 0.00M 0.00M 0.00M 2,000.00M
Levered Free Cash Flow 885.86M 711.90M 836.85M 11.45M 691.02M 1,192.56M 847.36M 1,262.37M 1,290.04M 1,236.23M 1,050.39M 12,450.66M