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Centerspace key statistics and ratios

In fiscal 2025, Centerspace had return on equity of 2.3%, an operating margin of 23.6% and debt equal to 146.5% of equity. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2012Apr 20122013Apr 20132014Apr 20142015Apr 20152016Apr 20162017Apr 20172018Apr 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Gross margin——————96.7%96.7%96.7%95.7%96.1%96.4%96.5%96.5%96.6%
Operating margin>999%308.6%46.4%50.5%16.7%−18.8%−14.0%58.7%19.0%14.8%5.4%32.3%7.8%23.6%56.1%
Net margin253.7%97.2%−16.3%27.1%49.5%27.1%68.8%42.4%2.5%−0.0%−5.5%15.8%−4.3%6.2%35.4%
Free-cash-flow margin704.5%195.8%82.3%104.5%31.2%23.7%21.9%26.2%33.5%41.0%35.8%34.3%15.9%23.5%89.2%
Return on equity1.9%4.9%−2.2%3.9%11.3%7.4%20.1%12.8%0.7%−0.0%−1.9%5.7%−1.5%2.3%12.0%
Return on assets0.5%1.4%−0.7%1.2%3.8%2.7%8.1%5.6%0.3%−0.0%−0.7%2.1%−0.6%0.9%4.9%
Asset turnover0.000.010.040.050.080.100.120.130.120.120.130.130.140.140.14
Debt to equity251.2%172.9%172.3%100.8%131.3%102.2%116.6%105.2%116.7%111.4%138.7%129.8%128.5%146.5%106.4%
Interest cover (operating income ÷ interest)1.1x1.3x1.1x1.3x0.9xn/mn/m3.6x1.2x1.0x0.4x2.3x0.5x1.4x3.5x
Capital spending as % of revenue>999%100.0%32.1%24.0%18.5%25.7%10.6%11.3%0.9%0.6%0.0%0.0%21.7%12.5%−59.0%
Free cash flow ÷ net income277.7%201.5%—385.5%63.0%87.6%31.9%61.9%>999%——216.6%—376.0%251.9%
Dividends ÷ net income444.2%142.8%—189.8%83.4%129.0%28.8%41.8%789.1%——105.8%—298.7%56.7%
Dividends and buybacks ÷ free cash flow160.0%70.9%61.3%49.2%209.6%159.1%117.2%104.6%58.8%46.5%80.0%61.8%121.4%84.8%22.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Moat

59 /100

Moderate moat

How hard Centerspace's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.5% of total assets over 7 years.

  • Pricing power 20 / 20

    Gross margin has been a median 96.5%, moving by 0.3 percentage points (standard deviation) across 7 years.

  • Durability 11 / 20

    Operating margin has been a median 31.5%; its worst year was 1.8%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 5 of 6 years, at a median 32.9% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 23.1% over five years; stock-based pay has been a median 1.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Centerspace's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Centerspace.