A Business at a Glance
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NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP
NEN
$56.50
+0.00%
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN) has a 5-year average return on invested capital (ROIC) of 6.3%. This is below average and may indicate limited pricing power.
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN) does not currently pay a regular dividend.
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN) operates in the Operators Of Apartment Buildings industry, within the Real Estate sector.
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN) reported annual revenue of $89 million in its most recent fiscal year, based on SEC EDGAR filings.
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN) has a net profit margin of 6.8%. This is a modest margin.
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN) generated $28 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
New England Realty Associates Limited Partnership (“NERA” or the “Partnership”), a Massachusetts Limited Partnership, was formed on August 12, 1977 as the successor to five real estate limited partnerships (collectively, the “Colonial Partnerships”), which filed for protection under Chapter XII of the Federal Bankruptcy Act in September 1974. The bankruptcy proceedings were terminated in late 1984. In July 2004, the General Partner extended the termination date of the Partnership until 2057. The authorized capital of the Partnership is represented by three classes of partnership units (“Units”). There are two categories of limited partnership interests (“Class A Units” and “Class B Units”) and one category of general partnership interests (the “General Partnership Units”).
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 89M | 89M | 81M | 74M | 68M | 63M |
| Net Income | 6.0M | 6.0M | 16M | 8.5M | 3.7M | -2.7M |
| EPS | $0.00 | - | - | - | - | - |
| Free Cash Flow | 28M | 28M | 32M | 24M | 22M | 16M |
| ROIC | 5.0% | 5.6% | 7.7% | 5.9% | 6.7% | 5.7% |
| Gross Margin | 48.3% | 48.3% | 54.3% | 50.3% | 59.5% | 48.5% |
| Debt/Equity | 0.00 | -7.16 | -6.54 | -6.30 | -6.92 | -7.77 |
| Dividends/Share | $0.00 | $0.00 | - | - | - | - |
| Operating Income | 21M | 21M | 25M | 19M | 18M | 14M |
| Operating Margin | 23.9% | 23.9% | 31.5% | 25.3% | 26.5% | 22.7% |
| ROE | 0.0% | -8.8% | -24.5% | -13.5% | -6.8% | 6.0% |
| Shares Outstanding | 0M | - | - | - | - | - |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 43M | 45M | 50M | 53M | 58M | 60M | 62M | 63M | 68M | 74M | 81M | 89M | 89M |
| Gross Margin | 60.2% | 61.4% | 58.8% | 58.7% | 57.3% | 52.9% | 56.2% | 48.5% | 59.5% | 50.3% | 54.3% | 48.3% | 48.3% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 2.2M | 2.1M | 2.1M | 2.0M | 2.2M | 2.5M | 2.2M | 2.5M | 2.7M | 2.9M | 2.9M | 3.1M | 3.1M |
| EBIT | 11M | 13M | 13M | 14M | 15M | 17M | 15M | 14M | 18M | 19M | 25M | 21M | 21M |
| Op. Margin | 26.0% | 28.3% | 26.8% | 26.8% | 25.7% | 28.6% | 24.1% | 22.7% | 26.5% | 25.3% | 31.5% | 23.9% | 23.9% |
| Net Income | 1.0M | 3.8M | 5.0M | 6.9M | 4.2M | 6.5M | 1.4M | -2.7M | 3.7M | 8.5M | 16M | 6.0M | 6.0M |
| Net Margin | 2.4% | 8.3% | 10.0% | 13.1% | 7.2% | 10.8% | 2.3% | -4.3% | 5.5% | 11.4% | 19.4% | 6.8% | 6.8% |
| Non-Recurring | 0 | 0 | 104K | 0 | 0 | 0 | 0 | 0 | 0 | 971K | 0 | 400K | 400K |
| Returns on Capital | |||||||||||||
| ROIC | 7.0% | 7.5% | 6.9% | 14.5% | 14.4% | 7.4% | 5.7% | 5.7% | 6.7% | 5.9% | 7.7% | 5.6% | 5.0% |
| ROE | -4.2% | -13.0% | -15.2% | -20.0% | -11.8% | -17.8% | -3.6% | 6.0% | -6.8% | -13.5% | -24.5% | -8.8% | 0.0% |
| ROA | 0.6% | 2.0% | 2.5% | 3.3% | 1.8% | 2.4% | 0.5% | -0.8% | 1.0% | 2.2% | 4.0% | 1.3% | 1.2% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 12M | 14M | 19M | 24M | 26M | 22M | 17M | 16M | 22M | 24M | 32M | 28M | 28M |
| Free Cash Flow | 6.2M | 7.1M | 14M | 18M | 22M | 22M | 17M | 16M | 22M | 24M | 32M | 28M | 28M |
| Owner Earnings | 1.5M | 3.2M | 6.7M | 10M | 10M | 7.8M | -959K | -888K | 5.2M | 7.4M | 15M | 4.4M | 4.4M |
| CapEx | 5.6M | 6.7M | 5.2M | 5.8M | 4.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 10M | 11M | 12M | 13M | 16M | 15M | 18M | 17M | 16M | 17M | 17M | 23M | 23M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 10M | 11M | 12M | 13M | 16M | 15M | 18M | 17M | 16M | 17M | 17M | 23M | 23M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 2.7M | 3.4M | 1.6M | 43K | 0 | 4.1M | 394K | 450K | 5.3M | 3.9M | 1.7M | 821K | 821K |
| Buyback Yield | 63.8% | 74.8% | 28.7% | 0.6% | N/A | 67.5% | 8.1% | 6.8% | 75.0% | 55.4% | 19.9% | 0.0% | 0.0% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 25M | 24M | 15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 182M | 220M | 229M | 36M | 242M | 300M | 302M | 287M | 365M | 393M | 391M | 504M | 504M |
| Cash & Equiv. | 14M | 10M | 7.5M | 7.2M | 9.1M | 7.5M | 19M | 96M | 50M | 18M | 18M | 27M | 27M |
| Long-Term Debt | 196M | 205M | 219M | 41M | 233M | 291M | 304M | 383M | 414M | 411M | 409M | 531M | 531M |
| Debt/Equity | -7.16 | -7.47 | -6.90 | -1.22 | -7.06 | -8.14 | -7.74 | -7.77 | -6.92 | -6.30 | -6.54 | -7.16 | 0.00 |
| Interest Coverage | 1.1 | 1.3 | 1.3 | 1.3 | 1.2 | 1.4 | 1.1 | 1.0 | 1.2 | 1.2 | 1.6 | 1.1 | 1.1 |
| Equity | -27M | -31M | -34M | -35M | -36M | -38M | -41M | -49M | -60M | -65M | -62M | -74M | -74M |
| Total Assets | 178M | 201M | 191M | 227M | 247M | 294M | 292M | 357M | 392M | 386M | 394M | 505M | 505M |
| Total Liabilities | 205M | 232M | 225M | 262M | 283M | 332M | 333M | 406M | 452M | 451M | 456M | 580M | 580M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 677K | 334K | 2.7M | 2.7M |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Current Liabilities | 3.1M | 4.6M | 4.1M | 3.3M | N/A | N/A | N/A | N/A | N/A | 5.7M | 9.0M | 0 | 0 |
| Per Share Data | |||||||||||||
| EPS | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Owner EPS | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Book Value | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Cash Flow/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 |
| Shares Out. | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0M |
| Valuation | |||||||||||||
| P/E Ratio | 4.1 | 1.2 | 1.1 | 1.0 | 1.3 | 0.9 | 3.4 | N/A | 1.9 | 0.8 | 0.5 | N/A | N/A |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | 1.5 | N/A | 1.2 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 23.6 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | 0.1 | 0.1 | 0.1 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | 148.2% | 155.2% | 240.7% | 260.6% | 409.4% | 374.1% | 360.4% | 238.6% | 303.3% | 341.0% | 380.6% | N/A | N/A |
| Market Cap | 4.2M | 4.6M | 5.7M | 6.8M | 5.3M | 6.0M | 4.8M | 6.6M | 7.1M | 7.1M | 8.4M | 0 | 0 |
| Avg. Price | 33.13 | 35.06 | 41.82 | 51.68 | 51.56 | 47.66 | 41.91 | 48.57 | 66.51 | 62.75 | 68.88 | 0.00 | 56.50 |
| Year-End Price | 33.97 | 37.21 | 46.20 | 56.27 | 43.59 | 49.98 | 41.02 | 56.97 | 61.48 | 61.39 | 72.64 | 0.00 | 56.50 |
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 6.3% with a gross margin of 52.2%.
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN) has a return on equity (ROE) of -8.8%. A negative ROE may indicate losses or negative equity.
NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN) has a 5-year average gross margin of 52.2%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
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