Filing Flows › SL Green Realty (SLG) › Q4 2025
SL Green Realty (SLG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 17, 2026
SL Green Realty (SLG) reported revenue of $276M for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and +13% from the quarter before. Operating margin was 64.2%, net loss $104M (37.5% of revenue).
SL Green Realty, Q4 2025: revenue $276M (+12% year over year), operating margin 64.2%, net loss $104M, operating cash flow $28.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $276M | +13% | +12% |
| Operating profit | $177M | -15% | — |
| Net earnings | −$104M | -463% | — |
| Operating cash flow | $28.5M | — | -51% |
What changed
Revenue was $276.5M in Q4 2025, up 12% year over year and up 13% from the previous quarter.
Operating profit was $177.4M, a 64.2% margin (up 4.4 points year over year). Of the extra revenue versus a year earlier, 99% reached operating profit, above the 60% margin then. Total costs grew 0% against revenue growth of 12%. The quarter ended with a net loss of $103.7M, after a profit of $35.2M the previous quarter. Minority interests bore $2.9M of it: to shareholders the quarter was a loss of $100.8M. Net interest and other expense of $281.1M was the main reason.
Operating cash flow was $28.5M (down 51% year over year). Non-cash charges added back $69.7M of depreciation and amortization. Working capital and other items added $62.5M. Capital expenditures of $161.3M exceeded it, leaving free cash flow of −$132.8M.
Questions
What was SL Green Realty's revenue in the fourth quarter 2025?
SL Green Realty (SLG) reported revenue of $276M for the fourth quarter 2025 (Q4 2025), +12% from a year earlier and +13% from the quarter before.
Was SL Green Realty profitable in the fourth quarter 2025?
Operating profit was $177M (64.2% of revenue) and net loss $104M.
Source: SL Green Realty 10-K on SEC EDGAR.