NCM · Financial Statements

MacKenzie Realty Capital, Inc. (MKZR) Financial Statements

$1.14 NCM: MKZR Market Cap $2.57M

MacKenzie Realty Capital, Inc. most recently reported annual revenue of $20.0M, a net loss of $18.0M. Revenue grew at an average annual rate of 27.2% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

MacKenzie Realty Capital, Inc.: Revenue rose from $12.0M in 2019 to $20.0M in 2026, a change of +66.7% over 7 years; net profit was positive in 2 of 8 reported years; operating margin moved from 47.4% to -16.2%, a shift of -63.6 percentage points; the most recent year shows a net loss of $18.0M.

Income Statement — 8 Years (USD millions)

Metric	2019	2020	2021	2022	2023	2024	2025	2026
Revenue	$12.0M	$9.0M	$6.0M	$10.0M	$15.0M	$16.0M	$22.0M	$20.0M
Operating Expenses	$6.0M	$5.0M	$6.0M	$27.0M	$35.0M	$26.0M	$27.0M	$23.0M
Operating Profit	$6.0M	$3.0M	$0	$-17.0M	$-20.0M	$-10.0M	$-5.0M	$-3.0M
Operating Margin	47.4%	39.7%	-6.6%	-160.2%	-131.6%	-63.0%	-24.6%	-16.2%
Other Income	$-3.0M	$-15.0M	$-6.0M	$21.0M	$16.0M	$-1.0M	$-19.0M	$-11.0M
Interest	$0	$0	$1.0M	$2.0M	$7.0M	$6.0M	$9.0M	$10.0M
Depreciation	$0	$0	$2.0M	$5.0M	$5.0M	$7.0M	$11.0M	$9.0M
Profit Before Tax	$3.0M	$-12.0M	$-9.0M	$4.0M	$-4.0M	$-11.0M	$-24.0M	$-14.0M
Tax	$-460,000	$0	$0	$0	$0	$0	$0	$0
Net Profit	$3.0M	$-12.0M	$0	$5.0M	$-4.0M	$-12.0M	$-26.0M	$-18.0M
EPS	$2.20	$-8.80	$0.20	$3.40	$-3.60	$-10.00	$-18.66	$-9.54
Dividend Payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

Metric	Sep '23	Dec '23	Mar '24	Jun '24	Sep '24	Dec '24	Mar '25	Jun '25	Sep '25	Dec '25	Mar '26	Jun '26
Revenue	$4.0M	$4.0M	$4.0M	$5.0M	$5.0M	$8.0M	$4.0M	$5.0M	$5.0M	$5.0M	$5.0M	$5.0M
Operating Expenses	$6.0M	$6.0M	$7.0M	$7.0M	$12.0M	$6.0M	$10.0M	$8.0M	$13.0M	$6.0M	$5.0M	$-1.0M
Operating Profit	$-2.0M	$-2.0M	$-3.0M	$-3.0M	$-7.0M	$3.0M	$-6.0M	$-4.0M	$-8.0M	$-2.0M	$0	$6.0M
Operating Margin	-63.4%	-65.9%	-65.7%	-58.1%	-150.3%	31.2%	-136.4%	-75.6%	-176.8%	-41.0%	6.0%	117.4%
Interest	$1.0M	$1.0M	$2.0M	$2.0M	$2.0M	$2.0M	$3.0M	$2.0M	$2.0M	$3.0M	$2.0M	$3.0M
Profit Before Tax	$-4.0M	$-2.0M	$-3.0M	$-3.0M	$-7.0M	$-4.0M	$-6.0M	$-6.0M	$-4.0M	$-4.0M	$-1.0M	$-5.0M
Tax	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Net Profit	$-4.0M	$-2.0M	$-3.0M	$-3.0M	$-8.0M	$-5.0M	$-7.0M	$-7.0M	$-4.0M	$-5.0M	$-2.0M	$-7.0M
EPS	$-3.50	$-1.50	$-2.60	$-2.17	$-6.10	$-3.90	$-4.70	$-4.76	$-2.20	$-2.97	$-0.98	$-3.39

Over the 8 years reported for MacKenzie Realty Capital, Inc., cash stood at $4.0M in the latest year, shareholders' equity was $0, current assets covered current liabilities 0.03 times.

Balance Sheet — 8 Years (USD millions)

Metric	2019	2020	2021	2022	2023	2024	2025	2026
Total Assets	—	$104.0M	$139.0M	$183.0M	$213.0M	$233.0M	$236.0M	$235.0M
Current Assets	—	$10.0M	$10.0M	$27.0M	$19.0M	$14.0M	$6.0M	$4.0M
Cash	—	$9.0M	$5.0M	$7.0M	$17.0M	$12.0M	$4.0M	$4.0M
Inventory	—	$0	$0	$0	$0	$0	$0	$0
Receivables	—	$1.0M	$2.0M	$1.0M	$1.0M	$1.0M	$2.0M	$0
Fixed Assets	—	$0	$0	$0	$0	$0	$0	$0
Capital Work in Progress	$0	$0	$0	$0	$0	$0	$0	$0
Investments	$0	$94.0M	$71.0M	$58.0M	$22.0M	$6.0M	$4.0M	$218.0M
Other Assets	—	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	—	$1.0M	$41.0M	$78.0M	$102.0M	$125.0M	$142.0M	$156.0M
Current Liabilities	—	$1.0M	$1.0M	$6.0M	$4.0M	$5.0M	$5.0M	$148.0M
Borrowings	$0	$0	$40.0M	$69.0M	$95.0M	$118.0M	$135.0M	$149.0M
Other Liabilities	—	$1.0M	$2.0M	$9.0M	$7.0M	$7.0M	$7.0M	$7.0M
Equity	—	$0	$0	$0	$0	$0	$0	$0
Reserves	—	$103.0M	$97.0M	$98.0M	$99.0M	$82.0M	$60.0M	$44.0M

For MacKenzie Realty Capital, Inc., operating cash flow was positive in 2 of 8 reported years; free cash flow in the latest year was negative at $3.0M; free cash flow was positive in 2 of 8 years; financing activities used $2.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 8 Years (USD millions)

Metric	2019	2020	2021	2022	2023	2024	2025	2026
Operating Cash Flow	$-22.0M	$-2.0M	$1.0M	$5.0M	$-7.0M	$-1.0M	$-2.0M	$-3.0M
Investing Cash Flow	$0	$0	$-21.0M	$-31.0M	$5.0M	$0	$-19.0M	$-9.0M
Financing Cash Flow	$-4.0M	$-6.0M	$0	$-2.0M	$-3.0M	$-2.0M	$0	$-2.0M
Net Cash Flow	$-7.0M	$8.0M	$-1.0M	$1.0M	$9.0M	$-5.0M	$-9.0M	$0
Free Cash Flow	$-22.0M	$-2.0M	$1.0M	$5.0M	$-7.0M	$-1.0M	$-2.0M	$-3.0M

Valuation & Return Ratios

Metric	Value
PEG Ratio	0.00
EV / EBITDA	30.99
FCF Yield	-109.61%
Quick Ratio	0.03
Interest Coverage	-0.32
Return 1Y	-73.61%
Return 3Y	—
Return 5Y	—

MacKenzie Realty Capital, Inc. (MKZR) financials — frequently asked questions

What is MacKenzie Realty Capital, Inc.'s annual revenue?

MacKenzie Realty Capital, Inc. (MKZR) reported annual revenue of $20.0M in its most recent fiscal year.

What is MacKenzie Realty Capital, Inc.'s net profit?

MacKenzie Realty Capital, Inc. (MKZR) reported a net loss of $18.0M in its most recent fiscal year.

What is MKZR EV/EBITDA?

MacKenzie Realty Capital, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 30.99.

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