Nuveen Global Cities REIT, Inc.

EDGAR

Annual consolidated revenue for 2025: about USD 212M, using the latest reported figures. The previous period, 2024, was about USD 206.2M.

Watchlist

Latest quarter

Revenue

56.8 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

91.45%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: 51960000 USD Source
  • Revenue: 56817000 USD Source

Operating cash flow

21.9 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 40598000 USD Source
  • Operating Cash Flow: 18691000 USD Source
Cash and cash equivalents
50 million USD Source
Exact value

49995000 USD

Long-term debt including current maturities
270 million USD Source
Exact value

270000000 USD

Shares outstanding
202 million shares Source
Exact value

202399000 shares

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

217 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 53485000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 212036000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 158340000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 52737000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 56817000 USD · 2026-04-01 – 2026-06-30 Source

Net income

9.81 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: 5510000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: -9619000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 467000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 1915000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 12466000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

78.1 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 55694000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 36934000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 74479000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 55694000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 18691000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 40598000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 18691000 USD · 2026-01-01 – 2026-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

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

Latest filing recorded: 2026-10-22.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 8 of 11 periods available· newest 2025-12-31
  • Operating income: 6 of 11 periods available· newest 2025-12-31
  • Net income: 8 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 8 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 4 of 11 periods available· newest 2021-12-31
  • Total assets: 8 of 11 periods available· newest 2025-12-31
  • Total liabilities: 8 of 11 periods available· newest 2025-12-31
  • current assets: No compatible figures in this window
  • current liabilities: No compatible figures in this window
  • Cash and cash equivalents: 8 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 2 of 11 periods available· newest 2021-12-31
  • Shares outstanding: 4 of 11 periods available· 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

    +2.8%

    Prior period

    USD 206.21 million

    –

    Current period

    USD 212.04 million

    –

    Exact inputs and evidence

    212036000 − 206210000 = 5826000 USD

    206210000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    212036000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    −USD 8.06 million

    Prior period

    −USD 1.56 million

    –

    Current period

    −USD 9.62 million

    –

    Exact inputs and evidence

    -9619000 − -1560000 = -8059000 USD

    -1560000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -9619000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Operating cash flow

    +8.4%

    Prior period

    USD 68.68 million

    –

    Current period

    USD 74.48 million

    –

    Exact inputs and evidence

    74479000 − 68680000 = 5799000 USD

    68680000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    74479000 USD · 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 USD 212.04 million 100% of revenue
  • Operating costs Derived USD 67.4 million 32% of revenue
  • Operating income USD 144.64 million 68% of revenue
  • Tax, interest and other Derived USD 154.26 million 73% of revenue
  • Net income −USD 9.62 million −4.5% of revenue

Cash

  • Operating cash flow USD 74.48 million 35% 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
  • 2018 Net loss: net income was −33% of revenue.
  • 2019 Not shown: operating income or net income is not reported.
  • 2020 Not shown: operating income or net income is not reported.
  • 2021 Net income was higher than operating income, so the split is not drawn.
  • 2022 Net loss: net income was −41% of revenue.
  • 2023 Net loss: net income was −6.4% of revenue.
  • 2024 Net loss: net income was −0.8% of revenue.
  • 2025 Net loss: net income was −4.5% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2018 2018-01-01 – 2018-12-3115878000 5498000 Derived 10380000 15547000 Derived -5167000 -186152000 Derived
Source
2019 2019-01-01 – 2019-12-3132263000 UnavailableUnavailableUnavailable5704000 -88311000 Derived
Source
2020 2020-01-01 – 2020-12-3139247000 UnavailableUnavailableUnavailable725000 -68962000 Derived
Source
2021 2021-01-01 – 2021-12-3158520000 -6746000 Derived 65266000 46163000 Derived 19103000 -479344000 Derived
Source
2022 2022-01-01 – 2022-12-31130683000 70177000 Derived 60506000 114616000 Derived -54110000 Unavailable
Source
2023 2023-01-01 – 2023-12-31201919000 58755000 Derived 143164000 155996000 Derived -12832000 Unavailable
Source
2024 2024-01-01 – 2024-12-31206210000 52048000 Derived 154162000 155722000 Derived -1560000 Unavailable
Source
2025 2025-01-01 – 2025-12-31212036000 67397000 Derived 144639000 154258000 Derived -9619000 Unavailable
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 212M 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.229.0M171.7M114.5M57.2M0.0201820222025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Revenue15878000
2019Revenue32263000
2020Revenue39247000
2021Revenue58520000
2022Revenue130683000
2023Revenue201919000
2024Revenue206210000
2025Revenue212036000

Revenue growth

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

2.8% 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.133%100%67%33%0%201820222025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2018Year over yearNo prior comparable period
2019Year over year103.2%
2020Year over year21.6%
2021Year over year49.1%
2022Year over year123.3%
2023Year over year54.5%
2024Year over year2.1%
2025Year over year2.8%

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 68.2% 2025
Net margin -4.5% 2025
Free cash flow margin -819.1% 2021
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.214%-158%-530%-903%-1,275%201820222025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2018Operating margin65.4%
2019-12-31Operating marginNot reported
2020-12-31Operating marginNot reported
2021Operating margin111.5%
2022Operating margin46.3%
2023Operating margin70.9%
2024Operating margin74.8%
2025Operating margin68.2%
2018Net margin-32.5%
2019Net margin17.7%
2020Net margin1.8%
2021Net margin32.6%
2022Net margin-41.4%
2023Net margin-6.4%
2024Net margin-0.8%
2025Net margin-4.5%
2018Free cash flow margin-1,172.4%
2019Free cash flow margin-273.7%
2020Free cash flow margin-175.7%
2021Free cash flow margin-819.1%
2022Free cash flow marginNot reported
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.

USD 74.5M 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.97.1M72.8M48.5M24.3M0.0201820222025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Operating cash flow6335000
2019Operating cash flow12076000
2020Operating cash flow16545000
2021Operating cash flow20832000
2022Operating cash flow89868000
2023Operating cash flow77840000
2024Operating cash flow68680000
2025Operating cash flow74479000

Free cash flow

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

USD -479.3M 2021
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.38.3M-100.7M-239.7M-378.7M-517.7M201820222025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Free cash flow-186152000
2019Free cash flow-88311000
2020Free cash flow-68962000
2021Free cash flow-479344000
2022Free cash flowUnavailable
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.

36.3% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.41%31%20%10%0%201820222025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2018Liabilities / assets23.3%
2019Liabilities / assets37.7%
2020Liabilities / assets35.8%
2021Liabilities / assets34.5%
2022Liabilities / assets31.1%
2023Liabilities / assets33.7%
2024Liabilities / assets36.4%
2025Liabilities / assets36.3%

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
2018-12-31Current assets / current liabilitiesNot reportedNo source recorded
2019-12-31Current assets / current liabilitiesNot reportedNo source recorded
2020-12-31Current assets / current liabilitiesNot reportedNo source recorded
2021-12-31Current assets / current liabilitiesNot reportedNo source recorded
2022-12-31Current assets / current liabilitiesNot reportedNo source recorded
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
2018 2018-01-01 – 2018-12-31
−USD 5.17 million
Exact value

Exact value: -5167000 USD

2018-01-01 – 2018-12-31: -5167000 USD Inspect Net Income Open source
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USD 6.34 million
Exact value

Exact value: 6335000 USD

2018-01-01 – 2018-12-31: 6335000 USD Inspect Operating Cash Flow Open source
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USD 192.49 million
Exact value

Exact value: 192487000 USD

2018-01-01 – 2018-12-31: 192487000 USD Inspect Capital Expenditure Open source
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−USD 186.15 million
Calculation and evidence

6335000 − 192487000 USD

Exact free cash flow: -186152000 USD

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2019 2019-01-01 – 2019-12-31
USD 5.7 million
Exact value

Exact value: 5704000 USD

2019-01-01 – 2019-12-31: 5704000 USD Inspect Net Income Open source
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USD 12.08 million
Exact value

Exact value: 12076000 USD

2019-01-01 – 2019-12-31: 12076000 USD Inspect Operating Cash Flow Open source
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USD 100.39 million
Exact value

Exact value: 100387000 USD

2019-01-01 – 2019-12-31: 100387000 USD Inspect Capital Expenditure Open source
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−USD 88.31 million
Calculation and evidence

12076000 − 100387000 USD

Exact free cash flow: -88311000 USD

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2020 2020-01-01 – 2020-12-31
USD 725,000
Exact value

Exact value: 725000 USD

2020-01-01 – 2020-12-31: 725000 USD Inspect Net Income Open source
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USD 16.55 million
Exact value

Exact value: 16545000 USD

2020-01-01 – 2020-12-31: 16545000 USD Inspect Operating Cash Flow Open source
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USD 85.51 million
Exact value

Exact value: 85507000 USD

2020-01-01 – 2020-12-31: 85507000 USD Inspect Capital Expenditure Open source
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−USD 68.96 million
Calculation and evidence

16545000 − 85507000 USD

Exact free cash flow: -68962000 USD

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2021 2021-01-01 – 2021-12-31
USD 19.1 million
Exact value

Exact value: 19103000 USD

2021-01-01 – 2021-12-31: 19103000 USD Inspect Net Income Open source
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USD 20.83 million
Exact value

Exact value: 20832000 USD

2021-01-01 – 2021-12-31: 20832000 USD Inspect Operating Cash Flow Open source
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USD 500.18 million
Exact value

Exact value: 500176000 USD

2021-01-01 – 2021-12-31: 500176000 USD Inspect Capital Expenditure Open source
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−USD 479.34 million
Calculation and evidence

20832000 − 500176000 USD

Exact free cash flow: -479344000 USD

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2022 2022-01-01 – 2022-12-31
−USD 54.11 million
Exact value

Exact value: -54110000 USD

2022-01-01 – 2022-12-31: -54110000 USD Inspect Net Income Open source
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USD 89.87 million
Exact value

Exact value: 89868000 USD

2022-01-01 – 2022-12-31: 89868000 USD 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.

2023 2023-01-01 – 2023-12-31
−USD 12.83 million
Exact value

Exact value: -12832000 USD

2023-01-01 – 2023-12-31: -12832000 USD Inspect Net Income Open source
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USD 77.84 million
Exact value

Exact value: 77840000 USD

2023-01-01 – 2023-12-31: 77840000 USD 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
−USD 1.56 million
Exact value

Exact value: -1560000 USD

2024-01-01 – 2024-12-31: -1560000 USD Inspect Net Income Open source
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USD 68.68 million
Exact value

Exact value: 68680000 USD

2024-01-01 – 2024-12-31: 68680000 USD 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
−USD 9.62 million
Exact value

Exact value: -9619000 USD

2025-01-01 – 2025-12-31: -9619000 USD Inspect Net Income Open source
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USD 74.48 million
Exact value

Exact value: 74479000 USD

2025-01-01 – 2025-12-31: 74479000 USD 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.

44 filings · 4,134 latest values · 4,134 originally reported values

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

Identifiers: 0001711799, 1711799, N/A, NUVEEN, edgar:1711799

Also known as Nuveen Global Cities REIT, Inc.