Q2 2026 Revenue up 6% year over year to $12.9M · 8¢ of every $1 of revenue lost · operating margin -18.2%
Transcontinental Realty Investors made $12.9M in Q2 2026 (+6% Y/Y). Operating margin -18.2%, net loss $1.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.
Revenue$12.9M
Year over year+6%
Operating margin-18.2%
Net earnings−$1.0M
Operating cash flow−$2.4M
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 $12.9M in Q2 2026, up 6% year over year and up 4% from the previous quarter.
Operating costs exceeded revenue by $2.3M, an operating margin of -18.2%. Total costs grew 17% against revenue growth of 6%. The fastest-growing cost line was Other operating costs (+19%). The quarter ended with a net loss of $1.0M, after a profit of $324K the previous quarter. Non-operating items added $1.2M, -104% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$2.4M. Non-cash charges added back $3.7M of depreciation and amortization. Working capital and other items used $5.1M. Capital expenditures of $6.9M exceeded it, leaving free cash flow of −$9.3M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q2 2026
10-Q
Aug 6, 2026
$12.9M
+6%
-18.2%
−$1.0M
−$2.4M
Q1 2026
10-Q
May 7, 2026
$12.3M
+3%
-15.9%
$324K
−$2.9M
Q4 2025
10-K
Mar 12, 2026
$12.1M
+2%
-28.9%
$8.4M
−$711K
Q3 2025
10-Q
Nov 6, 2025
$12.8M
+11%
-10.9%
$884K
$8.2M
Q2 2025
10-Q
Aug 7, 2025
$12.2M
+3%
-6.8%
$324K
−$2.9M
Q1 2025
10-Q
May 8, 2025
$12.0M
+0.9%
-5.3%
$4.8M
−$7.4M
Q4 2024
10-K
Mar 20, 2025
$11.8M
-12%
-14.3%
$296K
−$15.7M
Charts
Latest (Q2 2026): Y/Y +6%, Q/Q +4%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q2 2026): Net income −$1.0M, Operating cash flow −$2.4M.+0.0% since FY2020: more shares outstanding (issuance, stock pay).Cash $14.1M, short-term investments $75.0M, long-term debt $211M 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
Transcontinental Realty Investors, Inc. (the “Company”), a Nevada Corporation, is a fully integrated externally managed real estate company. We operate high quality multifamily and commercial properties throughout the Southern United States. We also invest in mortgage notes receivable and in land that is either held for appreciation or development. As used herein, the terms “TCI”, “the Company”, “We”, “Our”, or “Us” refer to the Company. As of December 31, 2025, we owned approximately 84.6% of the common stock of Income Opportunity Realty Investors, Inc. (“IOR”), a Nevada Corporation, whose common stock is listed and traded on the New York Stock Exchange American under the symbol “IOR”. Accordingly, we include IOR’s financial results in our consolidated financial statements. IOR’s primary business is investing in mortgage loans and real estate.
In its own words, from its 10-K, filed Mar 12, 2026.
Transcontinental Realty Investors against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +6% against the peers' median +11%. Operating margin: -18.2% against the peers' median 15.9%.