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iStar Inc.

EDGAR
SAFE Quarterly report (10-Q) · filed 2026-07-31

Annual consolidated revenue for 2025: about Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 385.6M, using the latest reported figures. The previous period, 2024, was about Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 365.7M.

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Watchlist

Latest quarter

Revenue

115 million Unit_Standard_USD_DoCZm8sOCkiq5n46WdeMrQ

2026 Q2 · Unit_Standard_USD_DoCZm8sOCkiq5n46WdeMrQ

Exact inputs and evidence
  • Revenue: 114646000 Unit_Standard_USD_DoCZm8sOCkiq5n46WdeMrQ Source

Operating margin

24.65%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: 28256000 Unit_Standard_USD_DoCZm8sOCkiq5n46WdeMrQ Source
  • Revenue: 114646000 Unit_Standard_USD_DoCZm8sOCkiq5n46WdeMrQ Source
Cash and cash equivalents
15.9 million Unit_Standard_USD_DoCZm8sOCkiq5n46WdeMrQ Source
Exact value

15922000 Unit_Standard_USD_DoCZm8sOCkiq5n46WdeMrQ

Long-term debt including current maturities
4.65 billion Unit_Standard_USD_DoCZm8sOCkiq5n46WdeMrQ Source
Exact value

4653713000 Unit_Standard_USD_DoCZm8sOCkiq5n46WdeMrQ

Shares outstanding
71.1 million Unit_Standard_shares_f-69p4EMA0SUZ-PAhF_yvw Source
Exact value

71057000 Unit_Standard_shares_f-69p4EMA0SUZ-PAhF_yvw

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-07-31.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 3 of 11 periods available· newest 2025-12-31
  • Operating income: 3 of 11 periods available· newest 2025-12-31
  • Net income: 3 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 3 of 11 periods available· newest 2025-12-31
  • capital expenditure: No compatible figures in this window
  • Total assets: Multiple units; comparison withheld· newest 2025-12-31
  • Total liabilities: Multiple units; comparison withheld· newest 2025-12-31
  • current assets: No compatible figures in this window
  • current liabilities: No compatible figures in this window
  • Cash and cash equivalents: Multiple units; comparison withheld· newest 2025-12-31
  • Long-term debt including current maturities: Multiple units; comparison withheld· newest 2025-12-31
  • Shares outstanding: Multiple units; comparison withheld· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +5.4%

    Prior period

    Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 365.69 million

    –

    Current period

    Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 385.55 million

    –

    Exact inputs and evidence

    385552000 − 365685000 = 19867000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA

    365685000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA · 2024-01-01 – 2024-12-31

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    385552000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA · 2025-01-01 – 2025-12-31

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  • Net income

    +8.2%

    Prior period

    Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 105.76 million

    –

    Current period

    Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 114.47 million

    –

    Exact inputs and evidence

    114469000 − 105763000 = 8706000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA

    105763000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA · 2024-01-01 – 2024-12-31

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    114469000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +26.3%

    Prior period

    Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 37.86 million

    –

    Current period

    Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 47.81 million

    –

    Exact inputs and evidence

    47814000 − 37855000 = 9959000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA

    37855000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA · 2024-01-01 – 2024-12-31

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    47814000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA · 2025-01-01 – 2025-12-31

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Comparable inputs unavailable for: Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 385.55 million 100% of revenue
  • Operating costs Derived Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 284.65 million 74% of revenue
  • Operating income Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 100.9 million 26% of revenue
  • Tax, interest and other Derived −Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 13.57 million −3.5% of revenue
  • Net income Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 114.47 million 30% of revenue

Cash

  • Operating cash flow Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 47.81 million 12% of revenue
  • Capital expenditure Unavailable An input is unavailable.
  • Free cash flow Derived Unavailable An input is unavailable.

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2023 Operating loss: operating costs were 122% of revenue.
  • 2024 Net income was higher than operating income, so the split is not drawn.
  • 2025 Net income was higher than operating income, so the split is not drawn.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2023 2023-01-01 – 2023-12-31352578000 429653000 Derived -77075000 -22102000 Derived -54973000 Unavailable
Source
2024 2024-01-01 – 2024-12-31365685000 278602000 Derived 87083000 -18680000 Derived 105763000 Unavailable
Source
2025 2025-01-01 – 2025-12-31385552000 284654000 Derived 100898000 -13571000 Derived 114469000 Unavailable
Source

Amounts are exact, in Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 385.6M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.416.4M312.3M208.2M104.1M0.0202320242025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA)Source evidence
2023Revenue352578000
2024Revenue365685000
2025Revenue385552000

Revenue growth

Change in revenue from the same financial period one year earlier.

5.4% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.5.9%4.4%2.9%1.5%0.0%202320242025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2023Year over yearNo prior comparable period
2024Year over year3.7%
2025Year over year5.4%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 26.2% 2025
Net margin 29.7% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.34%19%4%-11%-26%202320242025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2023Operating margin-21.9%
2024Operating margin23.8%
2025Operating margin26.2%
2023Net margin-15.6%
2024Net margin28.9%
2025Net margin29.7%
2023Free cash flow marginNot reported
2024Free cash flow marginNot reported
2025Free cash flow marginNot reported

Operating cash flow

Cash generated by the company’s normal business operations.

Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 47.8M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.51.6M38.7M25.8M12.9M0.0202320242025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA)Source evidence
2023Operating cash flow15391000
2024Operating cash flow37855000
2025Operating cash flow47814000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

Not enough comparable data to show this history.
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA)Source evidence
2023Free cash flowUnavailable
2024Free cash flowUnavailable
2025Free cash flowUnavailable

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

Not enough comparable data to show this history.
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2023-12-31Liabilities / assetsNot reportedNo source recorded
2024-12-31Liabilities / assetsNot reportedNo source recorded
2025-12-31Liabilities / assetsNot reportedNo source recorded

Current assets to current liabilities

Current assets divided by current liabilities.

Not enough comparable data to show this history.
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2023-12-31Current assets / current liabilitiesNot reportedNo source recorded
2024-12-31Current assets / current liabilitiesNot reportedNo source recorded
2025-12-31Current assets / current liabilitiesNot reportedNo source recorded

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2023 2023-01-01 – 2023-12-31
−Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 54.97 million
Exact value

Exact value: -54973000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA

2023-01-01 – 2023-12-31: -54973000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA Inspect Net Income Open source
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Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 15.39 million
Exact value

Exact value: 15391000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA

2023-01-01 – 2023-12-31: 15391000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2024 2024-01-01 – 2024-12-31
Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 105.76 million
Exact value

Exact value: 105763000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA

2024-01-01 – 2024-12-31: 105763000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA Inspect Net Income Open source
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Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 37.86 million
Exact value

Exact value: 37855000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA

2024-01-01 – 2024-12-31: 37855000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

2025 2025-01-01 – 2025-12-31
Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 114.47 million
Exact value

Exact value: 114469000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA

2025-01-01 – 2025-12-31: 114469000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA Inspect Net Income Open source
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Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA 47.81 million
Exact value

Exact value: 47814000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA

2025-01-01 – 2025-12-31: 47814000 Unit_Standard_USD_ntuAqBuDyEy5QsxbM68tTA Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

298 filings · 9,166 latest values · 9,166 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001095651, 1095651, SAFE, edgar:1095651

Also known as ISTAR FINANCIAL INC, ISTAR INC., STARWOOD FINANCIAL INC, Safehold Inc., Safehold Inc., iStar Inc., iStar Inc.