Q3 2026 Revenue up 24% year over year to $30.3M · 19¢ of every $1 of revenue kept as net profit · operating margin 39.3%
Postal Realty Trust made $30.3M in Q3 2026 (+24% Y/Y). Operating margin 39.3%, net earnings $5.6M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Revenue$30.3M
Year over year+24%
Operating margin39.3%
Net earnings$5.6M
Operating cash flow$12.8M
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 $30.3M in Q3 2026, up 24% year over year and up 6% from the previous quarter.
Operating profit was $11.9M, a 39.3% margin (up 1.7 points year over year). Of the extra revenue versus Q3 2025, 46% reached operating profit, above the 38% margin then. Total costs grew 21% against revenue growth of 24%. The fastest-growing cost line was General & admin (+36%). Net earnings were $5.6M, up 47% year over year. The effective tax rate was 0.2%.
Operating cash flow was $12.8M (up 17% year over year), 183% of net income including minority interests. Non-cash charges added back $8.9M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $5.0M. Capital expenditures of $773K left free cash flow of $12.0M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 3, 2026
$30.3M
+24%
39.3%
$5.6M
$12.8M
Q2 2026
10-Q
Aug 4, 2026
$28.6M
+22%
39.5%
$5.1M
$14.1M
Q1 2026
10-Q
May 5, 2026
$26.6M
+20%
34.7%
$3.8M
$10.9M
Q4 2025
10-K
Feb 24, 2026
$26.0M
+22%
39.2%
$4.6M
$11.3M
Q3 2025
10-Q
Nov 4, 2025
$24.3M
+24%
37.6%
$3.8M
$10.9M
Q2 2025
10-Q
Aug 4, 2025
$23.4M
+29%
37.3%
$3.6M
$11.4M
Q1 2025
10-Q
May 1, 2025
$22.1M
+28%
28.4%
$2.1M
$10.8M
Charts
Latest (Q3 2026): Y/Y +24%, Q/Q +6%.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 $7.0M, Operating cash flow $12.8M.+73.6% since FY2020: more shares outstanding (issuance, stock pay); earlier years scaled for the 2-for-1 split before FY2021.Cash $1.5M, short-term investments —, long-term debt $361M 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
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
We are an internally managed REIT with a focus on acquiring and managing properties leased primarily to the USPS, ranging from last-mile post offices to industrial facilities. We believe that we are the largest owner and manager, measured by net leasable square footage, of properties that are leased to the USPS. We were organized in the state of Maryland on November 19, 2018 and commenced operations upon completion of our initial public offering ("IPO") on May 17, 2019 and the related formation transactions. Our Class A common stock trades on the New York Stock Exchange under the symbol “PSTL”. We elected to qualify to be taxed as a REIT for U.S. federal income tax purposes, commencing with our short tax year ended December 31, 2019.
In its own words, from its 10-K, filed Feb 24, 2026.
Postal Realty Trust 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: 39.3% against the peers' median 20.6%.