Filing Flows › SL Green Realty (SLG) › Q3 2025
SL Green Realty (SLG) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 3, 2025
SL Green Realty (SLG) reported revenue of $245M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +1% from the quarter before. Operating margin was 85.5%, net earnings $28.6M (11.7% of revenue).
SL Green Realty, Q3 2025: revenue $245M (+7% year over year), operating margin 85.5%, net earnings $28.6M, operating cash flow −$6.8M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $245M | +1% | +7% |
| Operating profit | $209M | +62% | +40% |
| Net earnings | $28.6M | — | — |
| Operating cash flow | −$6.8M | -112% | — |
What changed
Revenue was $244.8M in Q3 2025, up 7% year over year and up 1% from the previous quarter.
Operating profit was $209.3M, a 85.5% margin (up 20.4 points year over year). Of the extra revenue versus a year earlier, 395% reached operating profit, above the 65% margin then. Total costs fell 56% while revenue rose 7%. The fastest-growing cost line was SG&A (+13%). Net earnings were $28.6M. The effective tax rate was -0.3%.
Operating cash flow was −$6.8M. Non-cash charges added back $64.9M of depreciation and amortization. Working capital and other items used $106.9M. Capital expenditures of −$2.1M exceeded it, leaving free cash flow of −$4.7M.
Questions
What was SL Green Realty's revenue in the third quarter 2025?
SL Green Realty (SLG) reported revenue of $245M for the third quarter 2025 (Q3 2025), +7% from a year earlier and +1% from the quarter before.
Was SL Green Realty profitable in the third quarter 2025?
Operating profit was $209M (85.5% of revenue) and net earnings $28.6M.
Source: SL Green Realty 10-Q on SEC EDGAR.