Principal Credit Real Estate Income Trust earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 7, 2026
Q2 2026 Revenue up 27% year over year to $6.4M · 30¢ of every $1 of revenue kept as net profit · operating margin 30.3%
Principal Credit Real Estate Income Trust made $6.4M in Q2 2026 (+27% Y/Y). Operating margin 30.3%, net earnings $2.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 7, 2026.
Revenue$6.4M
Year over year+27%
Operating margin30.3%
Net earnings$2.0M
Operating cash flow$2.6M
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 $6.4M in Q2 2026, up 27% year over year and down 4% from the previous quarter.
Operating profit was $2.0M, a 30.3% margin (up 22.1 points year over year). Of the extra revenue versus Q2 2025, 111% reached operating profit, above the 8% margin then. Total costs fell 3% while revenue rose 27%. Net earnings were $2.0M, up 387% year over year. The effective tax rate was 0.0%.
Operating cash flow was $2.6M (up 286% year over year), 132% of net earnings. Working capital and other items added $617K.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q2 2026
10-Q
Aug 7, 2026
$6.4M
+27%
30.3%
$2.0M
$2.6M
Q1 2026
10-Q
May 13, 2026
$6.7M
+59%
28.1%
$1.9M
$2.7M
Q4 2025
10-K
Mar 26, 2026
$7.2M
+294%
25.0%
$1.8M
$1.8M
Q3 2025
10-Q
Nov 10, 2025
$8.0M
—
33.7%
$2.7M
$1.7M
Q2 2025
10-Q
Aug 11, 2025
$5.1M
—
8.3%
$401K
$666K
Q1 2025
10-Q
May 8, 2025
$4.2M
—
-22.9%
−$971K
−$305K
Q4 2024
10-K
Mar 26, 2025
$1.8M
—
39.6%
$546K
$1.8M
Charts
Latest (Q2 2026): Y/Y +27%, Q/Q -4%.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 $2.0M, Operating cash flow $2.6M.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
PFG · Stated in 10-K (named, share not stated) · source
About Principal Credit Real Estate Income Trust
The following description of our business should be read in conjunction with the financial statements and notes thereto appearing elsewhere in this Annual Report on Form 10‑K for the year ended December 31, 2025. In addition to historical data, this description contains forward‑looking statements about our business, operations and financial performance based on current expectations that involve risks and uncertainties. Our actual results may differ materially from those in this description as a result of various factors, including but not limited to those the factors set forth in “Item 1A- Risk Factors” and elsewhere in this Annual Report on Form 10‑K.
In its own words, from its 10-K, filed Mar 26, 2026.
Principal Credit Real Estate Income Trust against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +27% against the peers' median +14%. Operating margin: 30.3% against the peers' median 20.6%.