Q3 2026 Revenue up 11% year over year to $18.6M · 14¢ of every $1 of revenue kept as net profit · operating margin 16.6%
FrontView REIT made $18.6M in Q3 2026 (+11% Y/Y). Operating margin 16.6%, net earnings $2.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Revenue$18.6M
Year over year+11%
Operating margin16.6%
Net earnings$2.5M
Operating cash flow$11.1M
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 $18.6M in Q3 2026, up 11% year over year and up 3% from the previous quarter.
Operating profit was $3.1M, a 16.6% margin (down 16.7 points year over year). Operating profit fell $2.5M even though revenue rose $1.8M versus Q3 2025, so costs grew faster than sales. Total costs grew 39% against revenue growth of 11%. The fastest-growing cost line was Other operating costs (+40%). Net earnings were $2.5M, down 37% year over year. The effective tax rate was 3.5%.
Operating cash flow was $11.1M (up 35% year over year), 372% of net income including minority interests. Non-cash charges added back $8.4M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items used $1.8M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 5, 2026
$18.6M
+11%
16.6%
$2.5M
$11.1M
Q2 2026
10-Q
Aug 6, 2026
$18.0M
+3%
8.9%
$1.2M
$11.4M
Q1 2026
10-Q
May 7, 2026
$18.2M
+12%
2.6%
$320K
$7.1M
Q4 2025
10-K
Feb 25, 2026
$16.5M
+9%
-31.7%
−$5.2M
$16.5M
Q3 2025
10-Q
Nov 13, 2025
$16.8M
+16%
33.3%
$4.0M
$8.3M
Q2 2025
10-Q
Aug 14, 2025
$17.6M
+20%
-24.7%
−$4.5M
$9.3M
Q1 2025
10-Q
May 15, 2025
$16.2M
+6%
-7.6%
−$1.3M
$8.1M
Charts
Latest (Q3 2026): Y/Y +11%, Q/Q +3%.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 $3.0M, Operating cash flow $11.1M.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
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
FrontView is an internally managed net-lease real estate investment trust (“REIT”) focused on acquiring, owning, and managing properties with frontage that are leased to a diversified tenant base. Our real estate-first investment strategy is centered around highly visible properties in prominent retail corridors with strong underlying real estate fundamentals. We target properties along high-traffic roads that offer strong consumer visibility and adaptable building formats capable of supporting various businesses over time. As of June 30, 2026, FrontView owned a diversified portfolio of 316 direct frontage properties across 35 U.S.
In its own words, from its 8-K, filed Aug 6, 2026.
FrontView REIT against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +11%. Operating margin: 16.6% against the peers' median 16.6%.