Orion Properties Inc. (ONL)
Orion Properties Inc. is an investment firm concentrating its expertise on acquiring, owning, and managing a varied collection of essential corporate headquarters and vital office properties situated in premier suburban markets nationwide. This portfolio is predominantly secured by single-tenant net leases with financially robust tenants. The company's seasoned leadership team employs a rigorous, market-tested investment framework that directs their strategic capital deployment across both their existing holdings and prospective acquisitions.
Sector: Real Estate Investment Trusts
Industry: REIT - Office
Orion Properties Inc.
NYSE:ONLReal Estate · REIT - Office
+2.74%$2.25
AH Close$2.25+0.00%vs close
AH Close$2.25+0.00%vs close
Mkt Cap$128.35M
Float52.3M
O/S57.04M
Inst Own48.9%
SI4.8%
Div Yield3.56%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$147.65M
Net Income-$139.31M
Total Assets$1.17B
Free Cash Flow-$28.12M
Debt & Equity
Debt 44%
Equity 56%
Total Debt$482.41M
Total Equity$623.21M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in ONL's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$1.17B
Liabilities$545.99M
Accounts Receivable$35.33M
Accounts Payable$2.81M
Inventory$0
PP&E (Net)$21.26M
Goodwill$0
Intangible Assets$75.95M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $147.65M | $164.86M | $195.04M | $208.12M | $79.73M | $53.47M | $53.47M | $54.66M |
| YoY Growth | -10.4% | -15.5% | -6.3% | 161.0% | 49.1% | 0.0% | -2.2% | - |
| Cost of Revenue | $64.83M | $65.15M | $60.78M | $61.52M | $13.41M | $5.77M | $5.9M | $5.38M |
| Gross Profit | $82.82M | $99.71M | $134.26M | $146.6M | $66.32M | $47.7M | $47.57M | $49.28M |
| Gross Margin | 56.1% | 60.5% | 68.8% | 70.4% | 83.2% | 89.2% | 89.0% | 90.1% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $20.31M | $20.09M | $18.72M | $15.91M | $3.83M | $2.05M | $2.04M | $3.12M |
| Other | $64.67M | $100.82M | $109.11M | $131.37M | $43.92M | $25.95M | $26.92M | $28.03M |
| Total Operating Expenses | $84.98M | $120.91M | $127.83M | $147.28M | $47.75M | $28M | $28.97M | $31.15M |
| Operating Income (EBIT) | -$2.17M | -$21.2M | $6.43M | -$676K | $18.57M | $19.7M | $18.6M | $18.13M |
| Operating Margin | -1.5% | -12.9% | 3.3% | -0.3% | 23.3% | 36.8% | 34.8% | 33.2% |
| Interest Expense | $31.51M | $32.64M | $29.67M | $30.17M | $4.27M | $2.93M | $3.32M | $3.37M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$136.86M | -$81.56M | -$63.28M | -$96.59M | -$65.87M | -$21.6M | -$3.32M | -$3.37M |
| Income Before Tax (EBT) | -$139.03M | -$102.76M | -$56.85M | -$97.26M | -$47.31M | -$1.9M | $15.28M | $14.76M |
| Income Tax Expense | $259K | $214K | $456K | $212K | $157K | $0 | $0 | $0 |
| Net Income | -$139.31M | -$103.01M | -$57.3M | -$97.49M | -$47.48M | -$1.9M | $15.28M | $14.76M |
| Net Income Margin | -94.4% | -62.5% | -29.4% | -46.8% | -59.6% | -3.6% | 28.6% | 27.0% |
| Supplementary Data | ||||||||
| EPS | -2.48 | -1.84 | -1.02 | -1.72 | -0.79 | -0.09 | 0.22 | 0.27 |
| Diluted EPS | -2.48 | -1.84 | -1.02 | -1.72 | -0.79 | -0.09 | 0.22 | 0.27 |
| Weighted Average OS | 56.23M | 55.90M | 56.18M | 56.63M | 56.63M | 54.17M | 54.17M | 54.17M |
| EBITDA | -$48.76M | $30.7M | $81.92M | $64.28M | $882K | $26.98M | $45.52M | $46.16M |
| EBITDA Margin | -33.0% | 18.6% | 42.0% | 30.9% | 1.1% | 50.5% | 85.1% | 84.5% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $22.36M | $15.6M | $22.47M | $20.64M | $29.32M | $0 | $0 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $22.36M | $15.6M | $22.47M | $20.64M | $29.32M | $0 | $0 |
| Accounts Receivable | $35.33M | $22.83M | $24.66M | $21.64M | $17.92M | $8.08M | $8.27M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | -$2.13M | $51.24M | $34.73M | $37.17M | -$47.23M | $3.92M | $4.78M |
| Total Current Assets | $57.7M | $91.81M | $83.18M | $80.76M | $50.96M | $12.24M | $13.04M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $21.26M | $22.22M | $26.6M | $26.42M | $30.96M | $7.63M | $541.78M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $75.95M | $95.94M | $126.36M | $202.83M | $298.11M | $28.68M | $37.38M |
| Long-Term Investments | $958.52M | $11.82M | $13.55M | $15.82M | $18.63M | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | -$979.78M | $1.11B | $1.17B | $1.25B | $1.36B | $497.88M | $0 |
| Total Long-Term Assets | $75.95M | $1.24B | $1.34B | $1.49B | $1.71B | $534.19M | $579.16M |
| Other Assets | $1.04B | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $1.17B | $1.34B | $1.42B | $1.57B | $1.76B | $546.43M | $592.2M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $2.81M | $1.16M | $1.61M | $1.79M | $1.8M | $12K | $921K |
| Short-Term Debt | $92M | $119M | $116M | $173.81M | $616.85M | $0 | $31.99M |
| Current Income Tax Payable | $0 | $0 | $0 | $10.19M | $10.32M | $436K | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | -$41.43M | $0 | $0 | $0 | $0 | $0 | -$1 |
| Total Current Liabilities | $92M | $156.22M | $152.06M | $205.64M | $634.23M | $848K | $32.91M |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $371.96M | $371.22M | $352.86M | $352.17M | $172.49M | $37.05M | $38.16M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $63.58M | $23.13M | $23.94M | $23.34M | -$156.13M | $4.19M | $13.13M |
| Total Long-Term Liabilities | $453.99M | $414.95M | $384.87M | $389.57M | $36.96M | $48.47M | $51.29M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $545.99M | $571.17M | $536.93M | $595.22M | $671.19M | $49.31M | $84.2M |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $56K | $56K | $56K | $57K | $57K | $0 | $508.01M |
| Retained Earnings | -$528.48M | -$384.35M | -$258.81M | -$178.91M | -$58.72M | $0 | $0 |
| Comprehensive Income & Other | -$5K | -$15K | -$264K | $6.31M | $299K | $0 | $0 |
| Other Stockholders' Equity | $1.15B | $1.15B | $1.14B | $1.15B | $1.15B | $497.12M | $0 |
| Total Equity | $623.21M | $763.92M | $885.62M | $974.47M | $1.09B | $497.12M | $508.01M |
| Minority Interest | $1.3M | $1.34M | $1.38M | $1.39M | $1.37M | $0 | $0 |
| Total Liabilities and Equity | $1.17B | $1.34B | $1.42B | $1.57B | $1.76B | $546.43M | $592.2M |
| Supplementary Data | |||||||
| Total Debt | $482.41M | $510.82M | $476.93M | $540.05M | $809.95M | $44.27M | $70.14M |
| Net Debt | $460.04M | $495.22M | $454.46M | $519.41M | $780.63M | $44.27M | $70.14M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | -$139.29M | -$102.98M | -$57.3M | -$97.47M | -$47.46M | -$1.9M | $15.28M | $14.76M |
| Depreciation & Amortization | $58.75M | $100.82M | $109.11M | $131.37M | $43.92M | $25.95M | $26.92M | $28.03M |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $53.7M | $0 | $0 | $0 |
| Stock-Based Compensation | $3.9M | $3.76M | $2.73M | $1.76M | $65K | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | $1.28M | $2.55M | $1.34M | $2.25M | -$5.02M | $613K | -$280K | -$34K |
| Inventory | $0 | $0 | $0 | -$2.25M | $5.02M | $0 | $0 | -$8.25M |
| Accounts Payable | -$2.07M | -$3.12M | $1.2M | $6.8M | $11.55M | -$191K | -$706K | $600K |
| Other Working Capital | $0 | $0 | $0 | $2.25M | -$5.02M | $0 | $0 | $8.25M |
| Total Working Capital Change | -$787K | -$577K | $2.54M | $9.05M | $6.54M | $422K | -$986K | $566K |
| Other Non-Cash Items | $101.01M | $53.24M | $32.01M | $69.53M | -$647K | $17.85M | -$1.23M | -$1.35M |
| Net Cash from Operating | $23.58M | $54.26M | $89.09M | $114.23M | $56.11M | $42.33M | $39.99M | $42.01M |
| Investing Activities | ||||||||
| Capital Expenditures | -$51.69M | -$22.58M | -$18.44M | -$11.62M | -$9.92M | -$464K | -$536K | -$2.39M |
| Acquisitions | $0 | $987K | $0 | $2.25M | -$2.35M | $0 | $0 | $0 |
| Purchases of Investments | -$8.33M | $0 | $0 | -$34.1M | -$2.48M | $0 | $0 | $0 |
| Sales of Investments | $77.15M | $0 | $0 | $34.1M | $133K | $0 | $0 | $0 |
| Other Investing Activities | -$350K | -$29.67M | $23.73M | $31.85M | $2.35M | $0 | $0 | -$2.39M |
| Net Cash from Investing | $16.78M | -$51.26M | $5.29M | $22.48M | -$12.26M | -$464K | -$536K | -$2.39M |
| Financing Activities | ||||||||
| Debt Repaid | $27.01M | -$21M | $59M | $26K | -$314.23M | $32.68M | $968K | $916K |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock Repurchases | -$569K | -$170K | -$5.11M | -$20K | $0 | $0 | $0 | $0 |
| Dividends Paid | -$8.97M | -$22.36M | -$22.58M | -$16.99M | -$587.16M | -$8.99M | -$37.62M | -$48.64M |
| Other Financing Activities | -$338K | -$1.5M | -$5.8M | -$583K | -$10.51M | $0 | $0 | $0 |
| Net Cash from Financing | -$36.89M | -$3.02M | -$92.49M | -$110.72M | -$18.44M | -$41.67M | -$38.59M | -$49.56M |
| Forex Effect | $41.57M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $45.04M | -$28K | $1.89M | $25.99M | $25.4M | $196K | $869K | -$9.94M |
| Supplementary Data | ||||||||
| Operating Cash Flow | $23.58M | $54.26M | $89.09M | $114.23M | $56.11M | $42.33M | $39.99M | $42.01M |
| Capital Expenditure | -$51.69M | -$22.58M | -$18.44M | -$11.62M | -$9.92M | -$464K | -$536K | -$2.39M |
| Free Cash Flow | -$28.12M | $31.68M | $70.65M | $102.61M | $46.19M | $41.86M | $39.46M | $39.62M |
| Cash at Beginning | $15.6M | $57.2M | $55.31M | $29.32M | $3.92M | $3.72M | $2.85M | $12.79M |
| Cash at End | $60.64M | $57.17M | $57.2M | $55.31M | $29.32M | $3.92M | $3.72M | $2.85M |