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Stratus Properties Inc.

STRS

Stratus Properties Inc. • NASDAQ
$22.15 ▼ -2.59% (-0.59)
Market Cap $178.36 M
52w High $26.98
52w Low $15.10
Dividend Yield 0%
P/E -21.93
Volume 3.38K
Outstanding Shares 8.05M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.969M ▼ $5.938M ▲ $-4.978M ▼ -100.181% ▼ $-0.62 ▼ $-5.507M ▼
Q2-2025 $11.605M ▲ $-1.443M ▼ $260K ▲ 2.24% ▲ $0.032 ▲ $-4.383M ▼
Q1-2025 $5.043M ▼ $3.851M ▲ $-2.875M ▼ -57.01% ▼ $-0.36 ▼ $-2.401M ▼
Q4-2024 $10.295M ▲ $3.282M ▲ $-507K ▼ -4.925% ▼ $-0.063 ▼ $-6K ▲
Q3-2024 $8.891M $1.737M $-364K -4.094% $-0.045 $-1.78M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $55.04M ▼ $572.562M ▼ $240.476M ▲ $185.791M ▼
Q2-2025 $59.387M ▲ $574.821M ▲ $236.497M ▼ $191.908M ▲
Q1-2025 $12.006M ▼ $534.581M ▲ $241.998M ▲ $191.459M ▼
Q4-2024 $20.178M ▲ $532.606M ▲ $235.039M ▲ $194.705M ▼
Q3-2024 $19.638M $523.18M $223.045M $196.367M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.978M ▼ $-14.161M ▼ $1.742M ▼ $2.359M ▼ $-4.86M ▼ $-15.075M ▼
Q2-2025 $-2.295M ▲ $-1.684M ▲ $10.504M ▲ $38.606M ▲ $47.426M ▲ $-4.318M ▲
Q1-2025 $-3.757M ▼ $-13.495M ▼ $-4.693M ▲ $9.991M ▼ $-8.197M ▼ $-18.022M ▼
Q4-2024 $-1.908M ▲ $-3.438M ▼ $-6.515M ▼ $10.771M ▲ $818K ▼ $-9.612M ▼
Q3-2024 $-3.381M $-686K $1.517M $5.544M $6.375M $-7.506M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Real Estate
Real Estate
 $10.00M ▲$0 ▼$10.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Stratus looks like a classic, project‑driven real estate developer: results are small in normal years and can swing sharply when it sells major properties. Over the past few years, revenue has been modest and somewhat uneven, with thin gross margins and operating results hovering around break‑even or small losses. The one standout year in this period appears to be driven by a large gain from asset sales rather than from steady, recurring income. More recently, net results appear to have improved back toward roughly break‑even after a couple of loss‑making years, but profitability still looks fragile and highly dependent on the timing of project completions and sales, not on stable rental or service income.

Balance Sheet

Balance Sheet The balance sheet shows a relatively stable asset base, supported by a solid, steady level of shareholders’ equity. Debt is meaningful but not extreme for a property developer and has risen compared with some prior years, though it remains below earlier peak levels. Cash on hand is modest, which is common for a company that constantly reinvests in projects, but it does leave less of a cushion if markets slow or project timelines slip. Overall, the company appears asset‑rich and equity‑supported, but it relies on ongoing financing discipline and successful project execution to keep leverage at comfortable levels.

Cash Flow

Cash Flow Cash flow paints a more demanding picture than the income statement. Operating cash flow has been consistently negative in recent years, showing that day‑to‑day operations and development activities are consuming cash rather than generating it. Free cash flow is more deeply negative, reflecting continued spending on new projects and capital investments. This pattern is typical for a growth‑oriented developer but means the business depends heavily on external funding or property sales at good prices to replenish cash. The key risk is timing: if project sales are delayed or markets weaken, the strain on cash and financing could increase.

Competitive Edge

Competitive Edge Stratus occupies a focused niche: high‑quality, sustainable, and wellness‑oriented developments in and around Austin, one of the country’s more dynamic real estate markets. Its strengths include long experience with local regulations, a track record of entitling complex sites, and the ability to create distinctive, high‑amenity communities that can command premium pricing. The land bank and mixed‑use capabilities give it flexibility across cycles. On the other hand, the business is relatively small and heavily concentrated in a single metro area and sector, so it is more exposed to local downturns, shifts in demand, or regulatory changes than a larger, more diversified real estate group would be.

Innovation and R&D

Innovation and R&D Instead of lab‑style R&D, Stratus innovates through project design and development practices. It has leaned into green building, targeting energy‑efficient and even net‑zero‑capable homes, extensive preserved green space, and wellness‑oriented community layouts. Third‑party certifications in energy efficiency and sustainability support these claims and help differentiate its properties. The company also experiments with adaptive reuse and historic preservation, integrating older structures into modern projects to create unique offerings. The main questions going forward are whether buyers will continue to pay a premium for these sustainable, wellness‑centric communities and whether Stratus can scale this approach across future developments without cost overruns or delays.

Summary

Stratus is an asset‑rich, niche real estate developer whose results are inherently “lumpy”: profitability depends on when major projects are completed and sold, not on smooth, recurring income streams. Its finances show thin routine margins, periodic large gains from property monetizations, and ongoing negative cash flow as it reinvests heavily in new developments. The balance sheet carries a reasonable but meaningful level of debt, supported by a stable equity base, while cash levels require careful management. Strategically, the company’s deep Austin roots, sustainability focus, and high‑amenity, wellness‑oriented projects give it a distinctive competitive identity in a strong market, but also tie its fortunes closely to that region and to real estate cycles. Future performance will hinge on execution: delivering complex, environmentally advanced projects on time and at attractive prices, while managing leverage and cash needs through inevitably volatile market conditions.

NEWS

November 20, 2025 · 4:15 PM UTC

Stratus Properties Inc. Completes Sale of Lantana Place – Retail for $57.5 Million

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November 12, 2025 · 8:15 AM UTC

Stratus Properties Inc. Reports Third-Quarter and Nine-Month 2025 Results

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