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Amrep (AXR) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Sep 11, 2026 · Amrep (AXR) Q1 FY27 earnings results →

Q1 FY27 Revenue down 66% year over year to $6.1M · 5¢ of every $1 of revenue kept as net profit · operating margin -2.7%

Amrep made $6.1M in Q1 FY27 (-66% Y/Y): Home sale $4.9M, Other $997K, Land sale $173K. Operating margin -2.7%, net earnings $276K. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 11, 2026.

Revenue$6.1M
Year over year-66%
Operating margin-2.7%
Net earnings$276K
Operating cash flow−$3.6M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $6.1M in Q1 FY27, down 66% year over year and down 45% from the previous quarter. Home sale was the largest line at 81% of revenue. Land sale lost $7.3M year over year (down 98%), 62% of the total change.

Operating costs exceeded revenue by $163K, an operating margin of -2.7%. Total costs fell 47% while revenue fell 66%. The fastest-growing cost line was General & admin (+30%). Net earnings were $276K, down 94% year over year. The effective tax rate was 3.2%. Non-operating items added $448K, 157% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was −$3.6M. Non-cash charges added back $78K of depreciation and $121K of share-based compensation. Working capital and other items used $4.1M. Capital expenditures of $4K exceeded it, leaving free cash flow of −$3.6M.

Quarterly history

Amrep revenue by quarterAmrep revenue by quarter$7.5MQ3 FY25$11.2MQ4 FY25$17.9MQ1 FY26$9.4MQ2 FY26$14.6MQ3 FY26$11.0MQ4 FY26$6.1MQ1 FY27
Amrep net earnings by quarterAmrep net earnings by quarter$717KQ3 FY25$3.9MQ4 FY25$4.7MQ1 FY26$1.2MQ2 FY26$3.1MQ3 FY26$1.2MQ4 FY26$276KQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QSep 11, 2026$6.1M-66%-2.7%$276K−$3.6M
Q4 FY2610-KJul 24, 2026$11.0M-1%19.2%$1.2M$2.2M
Q3 FY2610-QMar 12, 2026$14.6M+94%20.6%$3.1M$5.4M
Q2 FY2610-QDec 12, 2025$9.4M-21%11.9%$1.2M−$4.3M
Q1 FY2610-QSep 9, 2025$17.9M-6%34.4%$4.7M$9.5M
Q4 FY2510-KJul 25, 2025$11.2M-43%31.7%$3.9M$3.0M
Q3 FY2510-QMar 7, 2025$7.5M-41%5.7%$717K−$3.2M

Charts

Amrep: revenue growth, year over year and quarter over quarterAmrep: revenue growth, year over year and quarter over quarterY/YQ/Q-41%Q3 FY25-43%+49%Q4 FY25-6%+60%Q1 FY26-21%-47%Q2 FY26+94%+55%Q3 FY26-1%-24%Q4 FY26-66%-45%Q1 FY27
Latest (Q1 FY27): Y/Y -66%, Q/Q -45%.
Amrep: where the cash came from (+) and went (−), TTM to Q1 FY27Amrep: where the cash came from (+) and went (−), TTM to Q1 FY27Cash drawn (+) / kept (−)$374KOperating cash flow−$281KCapital spending−$86KNet borrowing (+) / repaid (−)−$14KOther financing$7K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Amrep: profit against cash, quarter by quarterAmrep: profit against cash, quarter by quarterNet incomeOperating cash flow$4.0M−$182KQ2 FY25$717K−$3.2MQ3 FY25$3.9M$3.0MQ4 FY25$4.7M$9.5MQ1 FY26$1.2M−$4.3MQ2 FY26$3.1M$5.4MQ3 FY26$1.2M$2.2MQ4 FY26$276K−$3.6MQ1 FY27
Latest (Q1 FY27): Net income $276K, Operating cash flow −$3.6M.
Amrep: diluted shares by fiscal yearAmrep: diluted shares by fiscal year0MFY210MFY220MFY235MFY245MFY255MFY26
+69281.2% since FY21: more shares outstanding (issuance, stock pay).
Amrep: long-term debt falling due (FY26)Amrep: long-term debt falling due (FY26)$8K2027$9K2028$1K2029
Cash $52.3M, short-term investments $0, long-term debt $18K at 2026-04-30.
Amrep in its industry: growth against margin (5 companies, SIC 6552)Amrep in its industry: growth against margin (5 companies, SIC 6552)revenue growth, year over year →↑ operating marginmedian -3%median -3%JOEPRSIKANPILALAXR (-66%, -3%)
Land Subdividers & Developers (No Cemeteries); dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Amrep

AMREP Corporation was organized in 1961 as an Oklahoma corporation and, through its subsidiaries, is primarily engaged in two business segments: land development and homebuilding. The Company has no foreign sales or activities outside the United States. The Company conducts a substantial portion of its business in Rio Rancho, New Mexico (“Rio Rancho”) and certain adjoining areas of Sandoval County, New Mexico. Rio Rancho is the third largest city in New Mexico with a population of approximately 112,500. As of April 30, 2025, the Company owned approximately 16,600 acres in Sandoval County, New Mexico. The Company offers for sale both developed and undeveloped real property to national, regional and local homebuilders, commercial and industrial property developers and others.

In its own words, from its annual report, filed Jul 25, 2025.

Amrep against its Land Subdividers & Developers (No Cemeteries) peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -66% against the peers' median -3%. Operating margin: -2.7% against the peers' median -2.7%.

CompanyQuarterRevenueY/YOp. margin
AXR AmrepQ1 FY27$6.1M-66%-2.7%
JOE ST JOEQ3 2026$156M-3%39.4%
PRSI Portsmouth SquareQ4 FY26$14.2M+15%14.4%
KANP Kaanapali Land LLCQ2 2026$620K+65%-229.7%
ILAL International Land AllianceQ2 2026$142K-82%n/m

Source: Amrep 10-Q on SEC EDGAR · CIK 6207 · Land Subdividers & Developers (No Cemeteries)

13F: who owns AXR and who is buying

Largest holders of AXR (13F)Largest holders of AXR (13F)Robotti Robert$13.2MDimensional Fund Advisors LP$5.0MCerity Partners LLC$4.2MTruffle Hound Capital, LLC$4.0MVanguard Capital Management LLC$3.6MJB Capital Partners LP$3.6MCresset Asset Management, LLC$3.3MVanguard Group$3.2MRenaissance Technologies LLC$2.9MBridgeway Capital Management, LLC$2.8M
Funds' net buying of AXR by quarter (13F)Funds' net buying of AXR by quarter (13F)−$2.8M2024-09−$4.9M2024-12$1.5M2025-03$1.3M2025-06$851K2025-09−$1.2M2025-12−$1.2M2026-03−$1.9M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on AXR

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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中文版：Amrep（AXR）财报

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