Edwyn
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $1,053 | $844 | $827 | $914 | $886 |
| Gross Profit | N/A | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | $606 | $599 | $731 |
| Net Income | $371 | $450 | -$78 | -$565 | $22 |
Over the past five years, SL GREEN REALTY CORP’s revenue shows noticeable volatility. In 2020, revenue stood at approximately 1,052.7 million USD, but it experienced a decline of roughly 20% to 844 million USD in 2021, with further marginal decline to 826.7 million USD in 2022. Although there was a recovery in 2023, with revenues rising to 913.7 million USD, the 2024 figure of 886.3 million USD indicates that revenue levels have not rebounded fully to those of the pre-decline period. Notably, gross profit figures have consistently been reported as zero across the period, suggesting that the company’s revenue model and cost structure—typical for REITs predominantly earning through rental income—do not emphasize traditional gross margin measures. Operating and net income trends exhibit significant fluctuations during this period. Operating income was reported as zero in both 2020 and 2021, then emerged robustly in 2022 at 605.6 million USD. It remained relatively stable in 2023 at 598.7 million USD before increasing to 730.6 million USD in 2024. However, net income paints a contrasting picture: starting positive with 371.1 million USD in 2020 and rising to 449.8 million USD in 2021, it sharply swung negative in 2022 to –78.1 million USD and further deteriorated to –564.6 million USD in 2023, before a modest recovery to 22.0 million USD in 2024. These swings, particularly the over 100% decline in net income from 2021 to 2022 and an even steeper drop into 2023, could be driven by changes in operating expenses, valuation adjustments, or shifts in rental market conditions. Overall, while the recovery in operating income and partial net income rebound in 2024 indicates some underlying resilience, the significant volatility raises questions about short-term sustainability and the impact of prevailing market conditions on their financial stability.
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.