Cohen & Steers Income Opportunities REIT earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026
Q2 2026 Revenue up 76% year over year to $13.7M · 19¢ of every $1 of revenue kept as net profit · operating margin 19.1%
Cohen & Steers Income Opportunities REIT made $13.7M in Q2 2026 (+76% Y/Y). Operating margin 19.1%, net earnings $2.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
Revenue$13.7M
Year over year+76%
Operating margin19.1%
Net earnings$2.7M
Operating cash flow$2.7M
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 $13.7M in Q2 2026, up 75% year over year and up 17% from the previous quarter.
Operating profit was $2.6M, a 19.1% margin (up 12.8 points year over year). Of the extra revenue versus Q2 2025, 36% reached operating profit, above the 6% margin then. Total costs grew 52% against revenue growth of 75%. The fastest-growing cost line was General & admin (+52%). Net earnings were $2.7M, up 902% year over year ($2.6M including minority interests, which bore $45K of losses). The effective tax rate was 0.0%.
Operating cash flow was $2.7M (up 15% year over year), 103% of net earnings. Non-cash charges added back $7.2M of depreciation and amortization and $47K of share-based compensation. Working capital and other items used $7.2M. Capital expenditures of $826K left free cash flow of $1.9M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q2 2026
10-Q
Aug 12, 2026
$13.7M
+76%
19.1%
$2.7M
$2.7M
Q1 2026
10-Q
May 14, 2026
$11.7M
+58%
-13.3%
−$1.6M
$3.1M
Q4 2025
10-K
Mar 17, 2026
$9.9M
+184%
-32.4%
−$3.2M
$3.1M
Q3 2025
10-Q
Nov 12, 2025
$8.4M
+254%
-1.9%
−$163K
$3.6M
Q2 2025
10-Q
Aug 13, 2025
$7.8M
+449%
6.3%
$265K
$2.3M
Q1 2025
10-Q
May 13, 2025
$7.4M
+641%
-5.3%
−$397K
$2.3M
Q4 2024
10-K
Mar 13, 2025
$3.5M
—
-51.3%
−$1.8M
$1.3M
Charts
Latest (Q2 2026): Y/Y +76%, Q/Q +17%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q2 2026): Net income $2.6M, Operating cash flow $2.7M.+28660.0% since FY2023: more shares outstanding (issuance, stock pay); earlier years scaled for the 3-for-1 split before FY2025.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
CNS · Stated in 10-K (named, share not stated) · source
FMCC · Stated in 10-K (named, share not stated) · source
About Cohen & Steers Income Opportunities REIT
References herein to “Cohen & Steers Income Opportunities REIT, Inc.,” the “Company,” “we,” “us,” or “our” refer to Cohen & Steers Income Opportunities REIT, Inc., a Maryland corporation, together with its consolidated subsidiaries, including Cohen & Steers Income Opportunities REIT Operating Partnership, L.P. (“CNSREIT OP” or the “Operating Partnership”), a Delaware limited partnership of which we are the general partner, unless the context requires otherwise. We are a Maryland corporation formed on July 18, 2022. We were formed primarily to acquire high-quality, stabilized real estate assets primarily within the United States (“U.S.”). We also invest, to a lesser extent, in real estate equity (including listed REITs), preferred equity and debt instruments.
In its own words, from its 10-K, filed Mar 17, 2026.
Cohen & Steers Income Opportunities REIT against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +76% against the peers' median +14%. Operating margin: 19.1% against the peers' median 19.1%.