Q3 2026 Revenue up 1% year over year to $40.0M · 37¢ of every $1 of revenue lost · operating margin 58.4%
Strawberry Fields REIT made $40.0M in Q3 2026 (+0.7% Y/Y). Operating margin 58.4%, net loss $14.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Revenue$40.0M
Year over year+0.7%
Operating margin58.4%
Net earnings−$14.8M
Operating cash flow$13.5M
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 $40.0M in Q3 2026, up 1% year over year and roughly flat from the previous quarter.
Operating profit was $23.4M, a 58.4% margin (up 1.8 points year over year). Of the extra revenue versus Q3 2025, 322% reached operating profit, above the 57% margin then. Total costs fell 4% while revenue rose 1%. The fastest-growing cost line was General & admin (+28%). The quarter ended with a net loss of $14.8M, after a profit of $8.9M the previous quarter. Minority interests bore $11.1M of it: to shareholders the quarter was a loss of $3.6M. Net interest and other expense of $38.1M was the main reason.
Operating cash flow was $13.5M (down 35% year over year). Non-cash charges added back $11.1M of depreciation and amortization. Working capital and other items added $17.1M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 5, 2026
$40.0M
+0.7%
58.4%
−$14.8M
$13.5M
Q2 2026
10-Q
Aug 6, 2026
$40.0M
+6%
53.7%
$2.2M
$24.2M
Q1 2026
10-Q
May 8, 2026
$40.0M
+7%
55.4%
$2.3M
$17.5M
Q4 2025
10-K
Mar 19, 2026
$40.1M
+32%
52.4%
$2.0M
$20.6M
Q3 2025
10-Q
Nov 6, 2025
$39.7M
+35%
56.6%
$2.0M
$20.7M
Q2 2025
10-Q
Aug 8, 2025
$37.9M
+29%
54.5%
$2.0M
$29.8M
Q1 2025
10-Q
May 9, 2025
$37.3M
+34%
54.1%
$1.6M
$19.0M
Charts
Latest (Q3 2026): Y/Y +1%, Q/Q 0%.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 −$14.8M, Operating cash flow $13.5M.+5.6% since FY2022: more shares outstanding (issuance, stock pay); earlier years scaled for the 2-for-1 split before FY2025.Cash $31.8M, short-term investments —, long-term debt $795M 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 a self-managed and self-administered real estate company that specializes in the acquisition, ownership and triple-net leasing of skilled nursing facilities and other post-acute healthcare properties. As of December 31, 2025, our portfolio consisted of 133 healthcare properties with an aggregate of 15,602 licensed beds. We hold fee title to 132 of these properties and hold one property under a long-term lease. These properties are located across Arkansas, Illinois, Indiana, Kansas, Kentucky, Missouri, Ohio, Oklahoma, Tennessee and Texas. Our 133 properties comprise 143 healthcare facilities, consisting of 131 skilled nursing facilities, 10 assisted living facilities and 2 long-term acute care hospitals.
In its own words, from its 10-K, filed Mar 19, 2026.
Strawberry Fields REIT against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +0.7% against the peers' median +11%. Operating margin: 58.4% against the peers' median 20.6%.