Also trades as: 0LHS.L (LSE) · $vol 0M

$35.61

-0.09 (-0.25%)

Pre-Market: $35.80 (+0.20, +0.55%)

Weekly Expected Move ±2.7%

$34 $35 $36 $37 $38

NYSE · Real Estate · REIT - Residential · Tech Score Buy · Power 68 · $11.4B mcap · 289M float · 1.27% daily turnover · Short 26% of daily vol

Credit Risk of going bust: not rated, financial company (lending is its business) Bonds: $124.1M held by 197 funds, 68 bp over Treasuries → details ▾

Not rated: lending and leverage are a financial company's business, which the model misreads.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.

Revenue Segmentation

By Product / Service

By Geography

Revenue by Segment (5-Year Trend)

Income Trends

Revenue

$1.7B +2.4% ▲

5Y CAGR: +6.6%

Gross Profit

$438M +5.1% ▲

5Y CAGR: +15.3%

Operating Income

$322M +13.3% ▲

5Y CAGR: +5.3%

Net Income

$378M +321.6% ▲

5Y CAGR: +42.5%

EPS (Diluted)

$1.13 +334.6% ▲

5Y CAGR: +41.4%

EBITDA

$1.0B +0.2% ▲

5Y CAGR: +2.3%

Profit Margins

Year-over-Year Growth

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$1.3B	$1.5B	$1.6B	$1.7B	$1.7B
YoY Growth	+4.0%	+17.6%	+7.3%	+2.7%	+2.4%
Cost of Revenue	$1.1B	$1.2B	$1.2B	$1.3B	$1.3B
Gross Profit	$228M	$331M	$393M	$417M	$438M
Gross Margin	17.7%	21.8%	24.1%	24.9%	25.6%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$58M	$64M	$70M	$84M	$116M
Operating Expenses	-$40M	$80M	-$242M	$132M	$116M
Operating Income	$268M	$251M	$635M	$285M	$322M
Operating Margin	20.8%	16.5%	39.0%	17.0%	18.8%
Interest Expense	$186M	$163M	$181M	$208M	$0
Income Before Tax	$162M	$93M	$477M	$97M	$405M
Tax Expense	$1M	$349K	$2M	$879K	$835K
Net Income	$150M	$87M	$444M	$90M	$378M
Net Margin	11.6%	5.7%	27.3%	5.4%	22.1%
EPS (Diluted)	$0.48	$0.26	$1.34	$0.26	$1.13
EBITDA	$969M	$935M	$1.3B	$1.0B	$1.0B
Shares Outstanding	302M	323M	329M	330M	331M

Line Item	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2
Revenue	$420M	$423M	$422M	$425M	$432M	$433M	$426M	$425M
Cost of Revenue	$318M	$309M	$310M	$310M	$137M	$316M	$164M	$143M
Gross Profit	$103M	$114M	$112M	$116M	$295M	$117M	$262M	$282M
Gross Margin	24.4%	27.0%	26.6%	27.2%	68.2%	27.0%	61.5%	66.4%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$21M	$25M	$19M	$20M	$23M	$31M	$19M	$19M
Operating Expenses	$33M	$48M	-$10M	$38M	$218M	$31M	$32M	$190M
Operating Income	$70M	$66M	$122M	$77M	$76M	$86M	$230M	$92M
Operating Margin	16.6%	15.7%	29.0%	18.2%	17.7%	19.8%	54.0%	21.7%
Interest Expense	$50M	$80M	$48M	$49M	$51M	$50M	$49M	$48M
Income Before Tax	$24M	-$5M	$82M	$40M	$44M	$238M	$203M	$74M
Tax Expense	-$156K	$312K	$158K	$258K	$382K	$37K	$455K	$429K
Net Income	$23M	-$5M	$77M	$38M	$40M	$223M	$190M	$69M
Net Margin	5.4%	-1.2%	18.2%	8.9%	9.4%	51.5%	44.6%	16.2%
EPS (Diluted)	$0.06	$-0.02	$0.23	$0.11	$0.11	$0.67	$0.57	$0.22
EBITDA	$248M	$229M	$298M	$260M	$216M	$406M	$417M	$279M
Shares Outstanding	331M	331M	332M	332M	357M	333M	330M	325M

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