Balance Sheet AREIT, Inc.

Equities

AREIT

PHY1001D1010

Commercial REITs

Delayed Philippines S.E. Other stock markets 08:18:26 08/07/2025 am IST			5-day change	1st Jan Change
41.10 ^PHP	0.00%		-0.24%	+8.30%

09/06	AREIT, Inc. stellar results, fueled by property expansion
14/05	AREIT, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2025	CI

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Published financial data: AREIT, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Rental Revenues	149.57Cr	250.69Cr	380.75Cr	543.89Cr	756.21Cr
Interest and Investment Income, Total (Revenue Block)	15Cr	19Cr	22Cr	45Cr	116.2Cr
Other Revenues, Total	31Cr	62Cr	104.3Cr	125.06Cr	153.5Cr
Total Revenues	195.16Cr	331.65Cr	507.28Cr	714.03Cr	1.03TCr
Property Expenses	59Cr	82Cr	135.98Cr	197.85Cr	265.97Cr
Selling General & Admin Expenses, Total	4.95Cr	10Cr	7.95Cr	13Cr	9.13Cr
Other Operating Expenses	-	10.5T	10.5T	-	-
Total Operating Expenses	63Cr	92Cr	143.93Cr	210.48Cr	275.1Cr
Operating Income (REIT / Utility Template)	131.68Cr	239.72Cr	363.36Cr	503.55Cr	750.82Cr
Interest Expense, Total	-6.54Cr	-17Cr	-23Cr	-24Cr	-32Cr
Interest and Investment Income	7.87Cr	5.7Cr	3.43Cr	13Cr	17Cr
Net Interest Expenses	1.33Cr	-11Cr	-19Cr	-10Cr	-14Cr
Other Non Operating Income (Expenses)	36.61L	-1.54Cr	-26.15L	2.68T	2L
EBT, Excl. Unusual Items	133.38Cr	226.88Cr	343.66Cr	493.24Cr	736.36Cr
Asset Writedown	-	16Cr	-55Cr	9.93Cr	-4.34Cr
EBT, Incl. Unusual Items	133.38Cr	243.33Cr	288.77Cr	503.16Cr	732.02Cr
Income Tax Expense	11Cr	48.47T	1L	10.67L	31.14L
Earnings From Continuing Operations	122.72Cr	243.33Cr	288.76Cr	503.05Cr	731.71Cr
Net Income to Company	122.72Cr	243.33Cr	288.76Cr	503.05Cr	731.71Cr
Net Income - (IS)	122.72Cr	243.33Cr	288.76Cr	503.05Cr	731.71Cr
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	122.72Cr	243.33Cr	288.76Cr	503.05Cr	731.71Cr
Net Income to Common Excl. Extra Items	122.72Cr	243.33Cr	288.76Cr	503.05Cr	731.71Cr
Per Share Items
Net EPS - Basic	1.23	1.64	1.91	2.6	2.62
Basic EPS - Continuing Operations	1.23	1.64	1.91	2.6	2.62
Basic Weighted Average Shares Outstanding	100Cr	147.94Cr	151.03Cr	193.25Cr	278.92Cr
Net EPS - Diluted	1.23	1.64	1.91	2.6	2.62
Diluted EPS - Continuing Operations	1.23	1.64	1.91	2.6	2.62
Diluted Weighted Average Shares Outstanding	100Cr	147.94Cr	151.03Cr	193.25Cr	278.92Cr
Normalized Basic EPS	0.84	0.96	1.42	1.6	1.65
Normalized Diluted EPS	0.84	0.96	1.42	1.6	1.65
Dividend Per Share	1.32	1.77	1.98	2.15	2.28
Payout Ratio	77.73	71.24	100.85	80.86	79.5
Supplemental Items
EBITDA	152Cr	239.72Cr	363.36Cr	503.57Cr	750.85Cr
EBITA	131.68Cr	239.72Cr	363.36Cr	503.55Cr	750.82Cr
EBIT	131.68Cr	239.72Cr	363.36Cr	503.55Cr	750.82Cr
EBITDAR	-	256.62Cr	389.57Cr	545.73Cr	809.59Cr
Total Revenues (As Reported)	195.16Cr	331.65Cr	507.28Cr	714.03Cr	1.03TCr
Effective Tax Rate - (Ratio)	7.99	0	0	0.02	0.04
Total Current Taxes	17Cr	-	-	-	-
Total Deferred Taxes	-6.72Cr	-	-	-	-
Normalized Net Income	83Cr	141.8Cr	214.79Cr	308.27Cr	460.22Cr
Interest on Long-Term Debt	5.15Cr	6.3Cr	8.18Cr	8.41Cr	8.67Cr
Supplemental Operating Expense Items
General and Administrative Expenses	4.95Cr	10Cr	7.95Cr	13Cr	9.13Cr
Net Rental Expense, Total	-	17Cr	26Cr	42Cr	59Cr
Imputed Operating Lease Interest Expense	-	7.75Cr	9.96Cr	18Cr	39Cr
Imputed Operating Lease Depreciation	-	9.15Cr	16Cr	24Cr	20Cr
Maintenance & Repair Expenses, Total	-	8.33Cr	17Cr	27Cr	36Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Gross Property Plant And Equipment	938.86Cr	5.01TCr	6.09TCr	32.86L	9.76TCr
Accumulated Depreciation	-108.48Cr	-19.19L	-20.09L	-22.32L	-25.23L
Net Property Plant And Equipment	830.38Cr	5.01TCr	6.09TCr	10.53L	9.76TCr
Total Real Estate Assets	830.38Cr	5.01TCr	6.09TCr	10.53L	9.76TCr
Cash And Equivalents	5.9Cr	9.2Cr	6.28Cr	4.18Cr	7.12Cr
Accounts Receivable, Total	14Cr	41Cr	82Cr	159.79Cr	137.16Cr
Other Receivables	1.71Cr	32Cr	33Cr	62Cr	279.11Cr
Notes Receivable (Collected)	222.55Cr	60Cr	77Cr	293.68Cr	-
Other Current Assets, Total	28Cr	10Cr	15Cr	16Cr	32Cr
Deferred Tax Assets Long-Term (Collected)	-	-	-	-	-
Other Long-Term Assets, Total	360.24Cr	489.89Cr	467.62Cr	8.79TCr	2.11TCr
Total Assets	1.46TCr	5.65TCr	6.77TCr	9.33TCr	12TCr
Liabilities
Current Portion of Long-Term Debt	-	-	297.77Cr	-	-
Current Portion of Leases	3.43Cr	4.3Cr	5.03Cr	5.42Cr	-
Short-Term Borrowings	-	95Cr	40Cr	309.57Cr	213.81Cr
Long-Term Debt	-	295.75Cr	-	-	-
Long-Term Leases	84Cr	111.1Cr	113.63Cr	116.26Cr	124.83Cr
Accounts Payable, Total	2.69Cr	9.9Cr	8.91Cr	38Cr	82Cr
Accrued Expenses, Total	18Cr	42Cr	88Cr	142.75Cr	7.79Cr
Current Income Taxes Payable	5.44Cr	-	9.08Cr	20Cr	9.8Cr
Unearned Revenue, Current	4.55Cr	29Cr	24Cr	32Cr	15Cr
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	39Cr	46Cr	30Cr	45Cr	222.73Cr
Unearned Revenue Non Current	36Cr	71Cr	65Cr	110.66Cr	118.22Cr
Deferred Tax Liability Non-Current	-	-	-	-	-
Other Non Current Liabilities	36Cr	58Cr	81Cr	166.66Cr	191.52Cr
Total Liabilities	229.23Cr	761.59Cr	761.31Cr	986.25Cr	985.22Cr
Preferred Stock Redeemable	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	1.09TCr	1.58TCr	1.83TCr	2.44TCr	3.28TCr
Additional Paid In Capital	79Cr	1.13TCr	2TCr	3.63TCr	5.64TCr
Retained Earnings	129.61Cr	2.25TCr	2.24TCr	2.34TCr	2.49TCr
Treasury Stock	-67Cr	-67Cr	-67Cr	-67Cr	-67Cr
Total Common Equity	1.23TCr	4.89TCr	6.01TCr	8.34TCr	11TCr
Total Equity	1.23TCr	4.89TCr	6.01TCr	8.34TCr	11TCr
Total Liabilities And Equity	1.46TCr	5.65TCr	6.77TCr	9.33TCr	12TCr
Supplemental Items
ECS Total Shares Outstanding on Filing Date	102.57Cr	150.89Cr	176.1Cr	236.86Cr	320.99Cr
ECS Total Common Shares Outstanding	102.57Cr	150.89Cr	176.1Cr	236.86Cr	320.99Cr
Book Value / Share	12.03	32.4	34.11	35.21	35.32
Tangible Book Value	1.23TCr	4.89TCr	6.01TCr	8.34TCr	11TCr
Tangible Book Value Per Share	12.03	32.4	34.11	35.21	35.32
Total Debt	87Cr	506Cr	456.29Cr	431.25Cr	338.64Cr
Net Debt	81Cr	496.8Cr	450.01Cr	427.07Cr	331.53Cr
Debt Equivalent Oper. Leases	-	135.17Cr	209.63Cr	337.27Cr	469.94Cr
Account Code - Inventory Valuation	3	3	3	-	3
Buildings, Total	853.16Cr	-	-	-	-
Machinery, Total	18.89L	22.29L	26.08L	32.86L	35.06L
Accumulated Allowance for Doubtful Accounts (Supple)	-	3.75Cr	6.04Cr	12Cr	15Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	122.72Cr	243.33Cr	288.76Cr	503.05Cr	731.71Cr
Depreciation, Depletion & Amortization	23Cr	42.04T	90.63T	2L	3L
Total Depreciation, Depletion & Amortization	23Cr	42.04T	90.63T	2L	3L
Total Asset Writedown	-	-16Cr	55Cr	-9.93Cr	4.34Cr
Change in Accounts Receivable	6.07Cr	-68Cr	-34Cr	-83Cr	-8.82Cr
Change in Accounts Payable	28Cr	1.58Cr	53Cr	96Cr	85Cr
Change in Other Net Operating Assets (Collected)	-9.72Cr	49Cr	9.44Cr	146.41Cr	8.29Cr
Other Operating Activities	-17Cr	3.9Cr	21Cr	1.54Cr	-91Cr
Cash from Operations	152.73Cr	212.95Cr	393.34Cr	653.78Cr	729.91Cr
Acquisition of Real Estate Assets, Total	-148.38Cr	-501.95Cr	-8.18Cr	-20Cr	-134.77Cr
Sale of Real Estate Assets, Total	-	-	-	-	3.9Cr
Net Sale / Acquisition of Real Estate Assets	-148.38Cr	-501.95Cr	-8.18Cr	-20Cr	-130.88Cr
Other Investing Activities, Total	-34Cr	88Cr	-18Cr	-173.49Cr	122.05Cr
Cash from Investing	-182.71Cr	-413.76Cr	-26Cr	-193.68Cr	-8.82Cr
Short Term Debt Issued, Total	-	3.44TCr	30Cr	300Cr	-
Long-Term Debt Issued, Total	-	295.75Cr	-	-	-
Total Debt Issued	-	3.73TCr	30Cr	300Cr	-
Short Term Debt Repaid, Total	-	-3.35TCr	-89Cr	-330Cr	-100Cr
Long-Term Debt Repaid, Total	-3.28Cr	-3.72Cr	-4.92Cr	-5.39Cr	-5.52Cr
Total Debt Repaid	-3.28Cr	-3.35TCr	-94Cr	-335.39Cr	-105.52Cr
Issuance of Common Stock	122.32Cr	-	-	-	-
Repurchase of Common Stock	-	-	-	-	-
Repurchase of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-95Cr	-173.34Cr	-291.22Cr	-406.76Cr	-581.73Cr
Preferred Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-95Cr	-173.34Cr	-291.22Cr	-406.76Cr	-581.73Cr
Other Financing Activities, Total	-	-3.59Cr	-15Cr	-20Cr	-31Cr
Cash from Financing	24Cr	204.11Cr	-369.96Cr	-462.2Cr	-718.15Cr
Net Change in Cash	-6.32Cr	3.3Cr	-2.93Cr	-2.1Cr	2.94Cr
Supplemental Items
Cash Interest Paid	-	8.1Cr	10Cr	9.48Cr	17Cr
Cash Income Tax Paid (Refund)	19Cr	48.47T	1L	10.67L	31.14L
Net Debt Issued / Repaid	-3.28Cr	381.03Cr	-64Cr	-35Cr	-105.52Cr
Levered Free Cash Flow	68Cr	307.07Cr	181.14Cr	94Cr	504.29Cr
Unlevered Free Cash Flow	72Cr	317.7Cr	195.43Cr	109.11Cr	524.25Cr
Change In Net Working Capital	33Cr	-167.87Cr	32Cr	205.63Cr	-55Cr

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	6.18	3.27	3.66	3.91	4.34
Return on Total Capital	6.85	3.42	3.83	4.13	4.59
Return On Equity %	10.61	5.96	5.3	7.01	7.44
Return on Common Equity	10.61	5.96	5.3	7.01	7.44
Margin Analysis
Gross Profit Margin %	70.01	75.4	73.19	72.29	74.08
SG&A Margin	2.54	3.12	1.57	1.77	0.89
EBITDA Margin %	77.88	72.28	71.63	70.52	73.19
EBITA Margin %	67.47	72.28	71.63	70.52	73.18
EBIT Margin %	67.47	72.28	71.63	70.52	73.18
Income From Continuing Operations Margin %	62.88	73.37	56.92	70.45	71.32
Net Income Margin %	62.88	73.37	56.92	70.45	71.32
Net Avail. For Common Margin %	62.88	73.37	56.92	70.45	71.32
Normalized Net Income Margin	42.71	42.76	42.34	43.17	44.86
Levered Free Cash Flow Margin	34.82	92.59	35.71	13.21	49.15
Unlevered Free Cash Flow Margin	36.91	95.79	38.53	15.28	51.1
Asset Turnover
Asset Turnover	0.15	0.07	0.08	0.09	0.09
Fixed Assets Turnover	0.27	0.08	0.09	8.64T	0.12
Receivables Turnover (Average Receivables)	9.04	9.35	6.2	4.43	7.33
Short Term Liquidity
Current Ratio	3.72	0.67	0.43	0.9	0.83
Quick Ratio	0.3	0.36	0.24	0.38	0.77
Operating Cash Flow to Current Liabilities	2.09	0.94	0.78	1.1	1.33
Days Sales Outstanding (Average Receivables)	40.5	39.03	58.85	82.31	49.92
Average Days Payable Outstanding	17.73	28.18	25.25	42.84	82.08
Long Term Solvency
Total Debt/Equity	7.07	10.35	7.6	5.17	2.99
Total Debt / Total Capital	6.6	9.38	7.06	4.92	2.9
LT Debt/Equity	6.79	8.32	1.89	1.39	1.1
Long-Term Debt / Total Capital	6.34	7.54	1.76	1.33	1.07
Total Liabilities / Total Assets	15.67	13.48	11.25	10.57	8
EBIT / Interest Expense	20.13	14.1	15.89	21.25	23.51
EBITDA / Interest Expense	23.58	14.1	15.89	21.25	23.51
(EBITDA - Capex) / Interest Expense	23.58	14.1	15.89	21.25	23.51
Total Debt / EBITDA	0.57	2.11	1.26	0.86	0.45
Net Debt / EBITDA	0.53	2.07	1.24	0.85	0.44
Total Debt / (EBITDA - Capex)	0.57	2.11	1.26	0.86	0.45
Net Debt / (EBITDA - Capex)	0.53	2.07	1.24	0.85	0.44
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	24.86	62.9	52.96	40.76	43.68
Gross Profit, 1 Yr. Growth %	21.23	57.09	48.49	39.02	47.22
EBITDA, 1 Yr. Growth %	16.61	55.42	51.58	38.59	49.1
EBITA, 1 Yr. Growth %	18.33	55.42	51.57	38.58	49.1
EBIT, 1 Yr. Growth %	18.33	55.42	51.57	38.58	49.1
Earnings From Cont. Operations, 1 Yr. Growth %	-2.71	-61.16	18.67	74.21	45.45
Net Income, 1 Yr. Growth %	-2.71	-61.16	18.67	74.21	45.45
Diluted EPS Before Extra, 1 Yr. Growth %	-4.51	-73.85	16.24	36.15	0.78
Normalized Net Income, 1 Yr. Growth %	-14.28	45.5	51.47	43.52	49.29
Net Property, Plant and Equip., 1 Yr. Growth %	34.1	71.57	21.55	75.98	24.69
Accounts Receivable, 1 Yr. Growth %	-26.01	211.85	102.45	86.84	98.37
Total Assets, 1 Yr. Growth %	22.01	60.98	19.79	37.8	32.11
Common Equity, 1 Yr. Growth %	14.24	49.01	22.88	38.85	35.92
Tangible Book Value, 1 Yr. Growth %	14.24	49.01	22.88	38.85	35.92
Cash From Operations, 1 Yr. Growth %	75.81	39.43	77.94	66.21	11.64
Capital Expenditures, 1 Yr. Growth %	-	-	-	-	-
Levered Free Cash Flow, 1 Yr. Growth %	-27.24	391.19	-41.01	-47.89	177.96
Unlevered Free Cash Flow, 1 Yr. Growth %	-23.5	376.99	-38.48	-44.17	167.15
Dividend Per Share, 1 Yr. Growth %	-	34.09	11.86	8.59	6.05
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	50.18	40.84	57.85	46.73	42.21
Gross Profit, 2 Yr. CAGR %	41.3	37.76	52.73	43.67	43.06
EBITDA, 2 Yr. CAGR %	41.78	35.61	53.49	44.94	43.75
EBITA, 2 Yr. CAGR %	39.14	35.61	53.49	44.93	43.75
EBIT, 2 Yr. CAGR %	39.14	35.61	53.49	44.93	43.75
Earnings From Cont. Operations, 2 Yr. CAGR %	51.16	-18.95	-32.11	43.78	59.19
Net Income, 2 Yr. CAGR %	51.16	-18.95	-32.11	43.78	59.19
Diluted EPS Before Extra, 2 Yr. CAGR %	-37.6	-34.11	-44.86	25.8	17.14
Normalized Net Income, 2 Yr. CAGR %	39.96	13.98	48.46	47.44	46.38
Net Property, Plant and Equip., 2 Yr. CAGR %	0.7	40.47	44.41	-99.54	40.27T
Accounts Receivable, 2 Yr. CAGR %	-73.54	-	151.26	98.4	26.64
Total Assets, 2 Yr. CAGR %	12.4	35.42	38.87	28.48	34.93
Common Equity, 2 Yr. CAGR %	8.4	36.51	35.32	30.62	37.38
Tangible Book Value, 2 Yr. CAGR %	8.4	36.51	35.32	30.62	37.38
Cash From Operations, 2 Yr. CAGR %	197.11	56.57	60.48	71.97	36.22
Levered Free Cash Flow, 2 Yr. CAGR %	-5.95	79.24	70.22	-44.58	66.93
Unlevered Free Cash Flow, 2 Yr. CAGR %	-2.49	81.57	71.3	-41.39	63.78
Dividend Per Share, 2 Yr. CAGR %	16.06	-	22.47	10.21	7.31
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	40.87	56.49	44.77	51.93	45.71
Gross Profit, 3 Yr. CAGR %	35.21	54.03	41.25	48.01	44.85
EBITDA, 3 Yr. CAGR %	36.75	46.9	40.74	48.35	46.31
EBITA, 3 Yr. CAGR %	34.02	52.18	40.74	48.35	46.31
EBIT, 3 Yr. CAGR %	34.02	52.18	40.74	48.35	46.31
Earnings From Cont. Operations, 3 Yr. CAGR %	40.05	65.47	-7.97	-7.05	44.34
Net Income, 3 Yr. CAGR %	40.05	65.47	-7.97	-7.05	44.34
Diluted EPS Before Extra, 3 Yr. CAGR %	-35.73	-19.59	-20.38	-25.47	16.84
Normalized Net Income, 3 Yr. CAGR %	34.05	49.36	25.31	46.79	48.06
Net Property, Plant and Equip., 3 Yr. CAGR %	92.96	82.88	33.86	-96.7	24.9
Accounts Receivable, 3 Yr. CAGR %	-32	-41.34	-	130.68	50.05
Total Assets, 3 Yr. CAGR %	94.24	69.61	30	38.51	29.68
Common Equity, 3 Yr. CAGR %	589.89	66.98	31.81	36.48	32.36
Tangible Book Value, 3 Yr. CAGR %	589.89	66.98	31.81	36.48	32.36
Cash From Operations, 3 Yr. CAGR %	53.64	130.89	65.43	62.37	48.91
Levered Free Cash Flow, 3 Yr. CAGR %	14.03	58.7	23.75	14.69	17.98
Unlevered Free Cash Flow, 3 Yr. CAGR %	16.06	61.25	26.58	17.89	18.17
Dividend Per Share, 3 Yr. CAGR %	-62.95	21.78	-	17.66	8.81
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	32.04	48.68	52.51	43.74
Gross Profit, 5 Yr. CAGR %	-	36.1	46.37	49.8	41.97
EBITDA, 5 Yr. CAGR %	-	33.79	43.63	46.11	41.93
EBITA, 5 Yr. CAGR %	-	36.02	46.04	49.24	41.93
EBIT, 5 Yr. CAGR %	-	36.02	46.04	49.24	41.93
Earnings From Cont. Operations, 5 Yr. CAGR %	-	42.25	45.24	56.43	14.58
Net Income, 5 Yr. CAGR %	-	42.25	45.24	56.43	14.58
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-16.25	-3.83	-7.09
Normalized Net Income, 5 Yr. CAGR %	-	34.18	44.07	48.59	33.35
Net Property, Plant and Equip., 5 Yr. CAGR %	-	110.95	120.95	-83.35	30.91
Accounts Receivable, 5 Yr. CAGR %	-	59.13	12.92	-4.49	-
Total Assets, 5 Yr. CAGR %	-	96.14	102.32	51.78	31.95
Common Equity, 5 Yr. CAGR %	-	326.18	337.27	51.36	34.01
Tangible Book Value, 5 Yr. CAGR %	-	326.18	337.27	51.36	34.01
Cash From Operations, 5 Yr. CAGR %	-	41.24	56.34	106.76	53.06
Levered Free Cash Flow, 5 Yr. CAGR %	-	-	31.64	4.19	39.46
Unlevered Free Cash Flow, 5 Yr. CAGR %	-	-	33.5	7.57	40.32
Dividend Per Share, 5 Yr. CAGR %	-	-40.74	-40.23	17.02	-