Q3 2026 Revenue up 24% year over year to $46.9M · 11¢ of every $1 of revenue lost · operating margin 24.7%
CTO Realty Growth made $46.9M in Q3 2026 (+24% Y/Y): Income Properties $38.5M, Commercial Loans and Investments $6.9M, Management Services $1.5M. Operating margin 24.7%, net loss $5.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 27, 2026.
Revenue$46.9M
Year over year+24%
Operating margin24.7%
Net earnings−$5.2M
Operating cash flow$24.6M
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 $46.9M in Q3 2026, up 24% year over year and up 7% from the previous quarter. Income Properties was the largest line at 82% of revenue. Income Properties added $5.0M year over year (up 15%), 55% of the total change.
Gross margin was 75.3%, down 0.1 points from Q3 2025. Operating profit was $11.6M, a 24.7% margin (down 1.9 points year over year). Of the extra revenue versus Q3 2025, 17% reached operating profit, below the 27% margin then. Operating expenses grew 29% against revenue growth of 24%. The fastest-growing cost line was Other operating costs (+31%). The quarter ended with a net loss of $5.2M, after a profit of $15.1M the previous quarter. Net interest and other expense of $17.4M was the main reason.
Operating cash flow was $24.6M (down 20% year over year). Non-cash charges added back $17.4M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items added $11.2M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Oct 27, 2026
$46.9M
+24%
24.7%
−$5.2M
$24.6M
Q2 2026
10-Q
Jul 28, 2026
$43.8M
+16%
30.2%
$15.1M
$20.0M
Q1 2026
10-Q
Apr 28, 2026
$41.2M
+15%
25.0%
$6.2M
$14.6M
Q4 2025
10-K
Feb 19, 2026
$38.3M
+7%
75.1%
$28.3M
$6.3M
Q3 2025
10-Q
Oct 28, 2025
$37.8M
+19%
26.6%
$2.9M
$26.1M
Q2 2025
10-Q
Jul 29, 2025
$37.6M
+30%
-33.7%
−$23.4M
$21.9M
Q1 2025
10-Q
May 1, 2025
$35.8M
+27%
22.0%
$2.3M
$10.3M
Charts
Latest (Q3 2026): Y/Y +24%, Q/Q +7%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income −$5.2M, Operating cash flow $24.6M.+128.8% since FY2020: more shares outstanding (issuance, stock pay).Cash $6.5M, short-term investments —, long-term debt $616M at 2025-12-31.Real Estate Investment Trusts; 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
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
The terms “us,” “we,” “our,” and “the Company” as used in this report refer to CTO Realty Growth, Inc. together with our consolidated subsidiaries. We are a publicly traded, self-managed equity REIT that focuses on the ownership, management, and repositioning of high-quality retail and mixed-use properties located primarily in what we believe to be faster growing, business-friendly markets exhibiting accommodative business tax policies, outsized relative job and population growth, and where retail demand exceeds supply. We have pursued our investment strategy by investing primarily through fee simple ownership of our properties, commercial loans and preferred equity .
In its own words, from its 10-Q, filed Apr 28, 2026.
CTO Realty Growth against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +24% against the peers' median +14%. Operating margin: 24.7% against the peers' median 20.6%.