Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $178 | $202 | $257 | $261 | $261 |
| Gross Profit | $172 | $193 | $247 | $252 | $252 |
| Operating Income | $8 | $30 | $14 | $84 | $20 |
| Net Income | $4 | -$0 | -$14 | $41 | -$11 |
Over the past five years, CENTERSPACE’s revenue and gross profit have trended upward through 2022, with revenue increasing from about 178 million USD in 2020 to nearly 257 million USD in 2022—a growth of roughly 44% over the period—while gross profit grew at a similar pace. However, after 2022, revenue plateaued with a modest increase to 261 million USD in 2023 and remained virtually flat at 261 million USD in 2024. This steady gross profit level suggests that the company managed to maintain its cost of goods sold even as sales volume increased initially, before reaching a point of saturation in subsequent years. In contrast, operating income and net income exhibited significant volatility. Operating income jumped from 8.34 million USD in 2020 to nearly 30 million USD in 2021 (an increase of over 260%), then fell sharply by more than 50% to 13.86 million USD in 2022, only to surge dramatically to 84.45 million USD in 2023—a swing exceeding 500% compared to the prior period. However, this performance was not sustained as operating income declined to 20.48 million USD in 2024. A similar inconsistency is evident in net income; after a positive 4.44 million USD in 2020, the company recorded a near break-even result in 2021, plunged to a loss of over 14 million USD in 2022, rebounded to 41.33 million USD in 2023, and then fell back to a negative 11.33 million USD in 2024. These marked year-over-year fluctuations, particularly those exceeding 20%, indicate possible operational or market-driven drivers affecting profitability. Overall, while CENTERSPACE has grown its top-line figures steadily until 2022, the stark swings in operating and net income raise concerns about consistent cost management and profitability sustainability in an industry that might be susceptible to rapid market or operational shifts.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.