A Business at a Glance
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Item 1. Business Explanatory Note for Purposes of the "Safe Harbor Provisions" of Section 21E of the Securities Exchange Act of 1934, as amended Certain statements in this report, other than purely historical information, including estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are included with respect to, among other things, Star Holdings (“we,” “our” and/or the “Company”) current business strategy, portfolio management, prospects and liquidity.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|---|
| Revenue | 110M | 110M | 113M | 123M | 124M |
| Net Income | -64M | -64M | -87M | -196M | -36M |
| EPS | $-4.90 | $-4.90 | $-6.51 | $-14.74 | $-2.73 |
| Free Cash Flow | -61M | -61M | -67M | -32M | -49M |
| ROIC | -7.7% | -12.3% | -16.0% | -32.5% | 0.6% |
| Gross Margin | 54.9% | 54.9% | 57.0% | 49.1% | 48.9% |
| Debt/Equity | 1.07 | 1.07 | 0.67 | 0.47 | - |
| Dividends/Share | $0.00 | - | - | - | - |
| Operating Income | -46M | -46M | -71M | -194M | 5.7M |
| Operating Margin | -41.6% | -41.6% | -62.7% | -157.9% | 4.6% |
| ROE | -25.5% | -22.3% | -26.7% | -47.7% | - |
| Shares Outstanding | 13M | 13M | 13M | 13M | 13M |
| Metric | 2022 | 2023 | |||
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 124M | 123M | 113M | 110M | 110M |
| Gross Margin | 48.9% | 49.1% | 57.0% | 54.9% | 54.9% |
| R&D | N/A | N/A | N/A | N/A | N/A |
| SG&A | 11M | 36M | 21M | 15M | 15M |
| EBIT | 5.7M | -194M | -71M | -46M | -46M |
| Op. Margin | 4.6% | -157.9% | -62.7% | -41.6% | -41.6% |
| Net Income | -36M | -196M | -87M | -64M | -64M |
| Net Margin | -29.3% | -159.6% | -76.6% | -58.3% | -58.3% |
| Non-Recurring | 14M | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||
| ROIC | 0.6% | -32.5% | -16.0% | -12.3% | -7.7% |
| ROE | N/A | -47.7% | -26.7% | -22.3% | -25.5% |
| ROA | -3.6% | -29.3% | -14.3% | -10.9% | -11.3% |
| Cash Flow | |||||
| Op. Cash Flow | -27M | -19M | -31M | -12M | -12M |
| Free Cash Flow | -49M | -32M | -67M | -61M | -61M |
| Owner Earnings | -44M | -25M | -36M | -17M | -17M |
| CapEx | 22M | 13M | 35M | 49M | 49M |
| Maint. CapEx | 4.9M | 4.6M | 4.3M | 5.2M | 5.2M |
| Growth CapEx | 17M | 8.5M | 31M | 44M | 44M |
| D&A | 4.9M | 4.6M | 4.3M | 5.2M | 5.2M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 8.0M | 8.0M |
| Buyback Yield | N/A | N/A | N/A | 7.7% | 7.2% |
| Stock-Based Comp | 12M | 1.8M | N/A | N/A | N/A |
| Debt Repayment | 0 | 70M | 0 | 4.5M | 4.5M |
| Balance Sheet | |||||
| Net Debt | N/A | 92M | 147M | 169M | 219M |
| Cash & Equiv. | 4.2M | 51M | 35M | 50M | 50M |
| Long-Term Debt | N/A | 193M | 217M | 269M | 269M |
| Debt/Equity | N/A | 0.47 | 0.67 | 1.07 | 1.07 |
| Interest Coverage | 0.1 | -93.0 | -4.5 | -2.5 | -2.5 |
| Equity | N/A | 412M | 324M | 252M | 252M |
| Total Assets | 1.0B | 669M | 609M | 570M | 570M |
| Total Liabilities | N/A | 235M | 264M | 304M | 304M |
| Intangibles | N/A | 180K | 127K | 102K | 102K |
| Retained Earnings | N/A | -196M | -283M | -347M | -347M |
| Working Capital | -16M | -20M | -24M | -8.8M | -8.8M |
| Current Assets | 17M | 22M | 22M | 27M | 27M |
| Current Liabilities | 33M | 42M | 46M | 36M | 36M |
| Per Share Data | |||||
| EPS | -2.73 | -14.74 | -6.51 | -4.90 | -4.90 |
| Owner EPS | -3.31 | -1.88 | -2.67 | -1.29 | -1.29 |
| Book Value | N/A | 30.89 | 24.34 | 19.20 | 19.20 |
| Cash Flow/Share | -2.05 | -1.41 | -2.35 | -0.89 | -4.50 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 13.3M | 13.3M | 13.3M | 13.1M | 13.1M |
| Valuation | |||||
| P/E Ratio | N/A | N/A | N/A | N/A | -1.7 |
| P/FCF | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 0.5 | 0.4 | 0.4 | 0.4 |
| Price/Sales | N/A | 1.5 | 1.5 | 0.9 | 1.0 |
| FCF Yield | N/A | -16.0% | -53.7% | -58.9% | -55.0% |
| Market Cap | N/A | 198M | 124M | 103M | 110M |
| Avg. Price | N/A | 14.17 | 12.45 | 7.86 | 8.42 |
| Year-End Price | N/A | 14.88 | 9.30 | 7.87 | 8.42 |
Star Holdings passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 52.5%. Total shareholder yield (buybacks) is 7.2%.
Star Holdings (STHO) has a 5-year average return on invested capital (ROIC) of -15.1%. This is below average and may indicate limited pricing power.
Star Holdings (STHO) has a market capitalization of $110M. It is classified as a small-cap stock.
Star Holdings (STHO) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 7.20%.
Star Holdings (STHO) operates in the Lessors Of Real Property, Nec industry, within the Real Estate sector.
Star Holdings (STHO) reported annual revenue of $110 million in its most recent fiscal year, based on SEC EDGAR filings.
Star Holdings (STHO) has a net profit margin of -58.3%. The company is currently unprofitable.
Star Holdings (STHO) generated $-61 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Star Holdings (STHO) has a debt-to-equity ratio of 1.07. This indicates moderate leverage.
Star Holdings (STHO) reported earnings per share (EPS) of $-4.90 in its most recent fiscal year.
Star Holdings (STHO) has a return on equity (ROE) of -22.3%. A negative ROE may indicate losses or negative equity.
Star Holdings (STHO) has a 5-year average gross margin of 52.5%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 4 years of financial data for Star Holdings (STHO), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Star Holdings (STHO) has a book value per share of $19.20, based on its most recent annual SEC filing.