Q3 2026 Revenue up 11% year over year to $74.1M · 4¢ of every $1 of revenue kept as net profit · operating margin 4.2%
UMH Properties made $74.1M in Q3 2026 (+11% Y/Y). Operating margin 4.2%, net earnings $3.1M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
Revenue$74.1M
Year over year+11%
Operating margin4.2%
Net earnings$3.1M
Operating cash flow$16.4M
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 $74.1M in Q3 2026, up 11% year over year and up 3% from the previous quarter.
Operating profit was $3.1M, a 4.2% margin (down 9.7 points year over year). Operating profit fell $6.2M even though revenue rose $7.2M versus Q3 2025, so costs grew faster than sales. Total costs grew 23% against revenue growth of 11%. The fastest-growing cost line was General & admin (+25%). Net earnings were −$2.1M. The effective tax rate was 0.0%.
Operating cash flow was $16.4M (down 30% year over year), 530% of net income including minority interests. Non-cash charges added back $18.5M of depreciation and $943K of share-based compensation. Working capital and other items used $6.1M. Capital expenditures of $33.5M exceeded it, leaving free cash flow of −$17.0M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 2, 2026
$74.1M
+11%
4.2%
$3.1M
$16.4M
Q2 2026
10-Q
Aug 5, 2026
$71.6M
+8%
13.3%
$4.4M
$24.8M
Q1 2026
10-Q
Apr 30, 2026
$65.8M
+8%
11.7%
$2.6M
$20.8M
Q4 2025
10-K
Feb 25, 2026
$67.0M
+8%
6.8%
$4.6M
$21.3M
Q3 2025
10-Q
Nov 3, 2025
$66.9M
+10%
13.9%
$4.2M
$23.4M
Q2 2025
10-Q
Aug 6, 2025
$66.6M
+10%
11.4%
$2.5M
$24.4M
Q1 2025
10-Q
May 1, 2025
$61.2M
+6%
7.9%
$4.8M
$12.8M
Charts
Latest (Q3 2026): Y/Y +11%, Q/Q +3%.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 $3.1M, Operating cash flow $16.4M.+104.6% since FY2020: more shares outstanding (issuance, stock pay).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
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
UMH Properties, Inc., a Maryland corporation, and its subsidiaries (“we”, “our”, “us” or “the Company”) operates as a real estate investment trust (“REIT”) deriving its income primarily from real estate rental operations. As of June 30, 2026, the Company operated a portfolio of 145 manufactured home communities, of which 142 are majority owned and are included in our consolidated operations with the remaining three owned through our joint ventures with Nuveen Real Estate, in which the Company has a 40% interest. Of the 142 majority owned communities, 140 are owned 100% by the Company with the remaining two owned by the Company’s Opportunity Zone Fund, in which the Company has a 77% interest. The Company’s portfolio of 145 communities contains approximately 27,100 developed homesites, of which 11,200 contain rental homes that are leased to residents.
In its own words, from its 10-Q, filed Aug 5, 2026.
UMH Properties against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +11%. Operating margin: 4.2% against the peers' median 15.9%.