Firm Capital Apartment Real Estate Investment Trust
OTC:FCAFF
Income Statement
Earnings Waterfall
Firm Capital Apartment Real Estate Investment Trust
Income Statement
Firm Capital Apartment Real Estate Investment Trust
| Apr-2008 | Jul-2008 | Oct-2008 | Jan-2009 | Apr-2009 | Jul-2009 | Oct-2009 | Jan-2010 | Apr-2010 | Jul-2010 | Oct-2010 | Jan-2011 | Apr-2011 | Jul-2011 | Oct-2011 | Jan-2012 | Apr-2012 | Jul-2012 | Oct-2012 | Jan-2013 | Apr-2013 | Jul-2013 | Oct-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
2
|
3
|
3
|
3
|
2
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
2
|
0
|
1
|
1
|
2
|
2
|
2
|
2
|
2
|
3
|
3
|
4
|
4
|
5
|
5
|
5
|
5
|
5
|
5
|
4
|
3
|
3
|
0
|
0
|
|
| Revenue |
0
N/A
|
0
+33%
|
0
N/A
|
0
-25%
|
0
-33%
|
0
-50%
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
2
N/A
|
5
+106%
|
7
+50%
|
10
+30%
|
9
-2%
|
9
-6%
|
8
-6%
|
4
-54%
|
3
-31%
|
2
-38%
|
1
-57%
|
5
+560%
|
5
+5%
|
5
+4%
|
5
+2%
|
5
-11%
|
4
-5%
|
4
-3%
|
4
-2%
|
4
+1%
|
4
+1%
|
4
+0%
|
4
+2%
|
4
+0%
|
4
N/A
|
4
-1%
|
4
-3%
|
4
0%
|
4
0%
|
4
+6%
|
5
+18%
|
6
+14%
|
7
+17%
|
9
+26%
|
10
+17%
|
12
+15%
|
13
+13%
|
13
+3%
|
13
-3%
|
12
-7%
|
11
-8%
|
10
-12%
|
9
-12%
|
7
-14%
|
6
-14%
|
6
-9%
|
6
-1%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(2)
|
(4)
|
(6)
|
(8)
|
(8)
|
(8)
|
(8)
|
(1)
|
0
|
2
|
3
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(4)
|
(5)
|
(5)
|
(6)
|
(7)
|
(7)
|
(7)
|
(7)
|
(7)
|
(6)
|
(5)
|
(5)
|
(4)
|
(4)
|
(4)
|
|
| Gross Profit |
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
0
N/A
|
1
N/A
|
1
+78%
|
2
+38%
|
2
-13%
|
1
-31%
|
0
-60%
|
0
-38%
|
2
+738%
|
3
+12%
|
3
+24%
|
4
+8%
|
3
-24%
|
3
+1%
|
3
+2%
|
3
-6%
|
2
-12%
|
2
+2%
|
2
-1%
|
3
+6%
|
2
-5%
|
2
+1%
|
2
-1%
|
2
0%
|
2
-2%
|
2
-6%
|
2
-3%
|
2
-7%
|
2
-2%
|
2
-5%
|
2
+7%
|
3
+26%
|
3
+18%
|
3
+12%
|
4
+24%
|
5
+13%
|
5
+15%
|
6
+16%
|
6
0%
|
6
-9%
|
5
-13%
|
4
-15%
|
3
-17%
|
3
-9%
|
3
-18%
|
2
-20%
|
2
-8%
|
2
-2%
|
|
| Operating Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(3)
|
(4)
|
(6)
|
(6)
|
(5)
|
(5)
|
(2)
|
(1)
|
(0)
|
1
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
|
| Selling, General & Administrative |
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(2)
|
(3)
|
(4)
|
(4)
|
(3)
|
(2)
|
(2)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
|
| Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Other Operating Expenses |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(1)
|
(2)
|
(2)
|
(2)
|
(3)
|
0
|
0
|
0
|
2
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Operating Income |
0
N/A
|
(0)
N/A
|
(0)
-100%
|
(0)
-50%
|
(0)
N/A
|
(0)
-33%
|
(0)
N/A
|
(0)
-25%
|
(0)
-120%
|
(0)
-27%
|
(0)
-7%
|
(0)
+7%
|
(0)
+50%
|
(0)
+29%
|
(0)
+20%
|
(0)
N/A
|
(0)
+25%
|
(0)
+33%
|
(0)
N/A
|
(0)
N/A
|
(0)
-50%
|
(0)
-133%
|
(0)
N/A
|
(0)
-171%
|
(1)
-632%
|
(2)
-57%
|
(4)
-91%
|
(5)
-8%
|
(5)
-7%
|
(5)
-4%
|
1
N/A
|
2
+99%
|
3
+89%
|
4
+34%
|
1
-83%
|
1
+14%
|
1
+17%
|
1
-5%
|
1
-23%
|
1
-4%
|
1
+3%
|
1
+7%
|
1
-27%
|
1
+14%
|
1
+6%
|
1
+11%
|
0
-74%
|
0
-60%
|
0
N/A
|
(0)
N/A
|
0
N/A
|
0
-40%
|
0
-72%
|
0
+600%
|
1
+131%
|
1
+57%
|
2
+81%
|
3
+21%
|
3
+20%
|
4
+20%
|
4
-6%
|
3
-11%
|
3
-17%
|
2
-19%
|
2
-29%
|
1
-18%
|
1
-48%
|
0
-83%
|
0
-28%
|
0
+46%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
(0)
|
(5)
|
(5)
|
(19)
|
(18)
|
(2)
|
(4)
|
9
|
9
|
(2)
|
0
|
0
|
(0)
|
(0)
|
(1)
|
2
|
3
|
4
|
5
|
5
|
4
|
7
|
5
|
3
|
3
|
3
|
3
|
4
|
5
|
7
|
7
|
(7)
|
(12)
|
(21)
|
(26)
|
(17)
|
(15)
|
(10)
|
(6)
|
(6)
|
(3)
|
(3)
|
(2)
|
0
|
(6)
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Gain/Loss on Disposition of Assets |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(19)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
0
|
(19)
|
(19)
|
(19)
|
0
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
1
|
3
|
3
|
3
|
(1)
|
(4)
|
(3)
|
(3)
|
(1)
|
1
|
1
|
3
|
3
|
2
|
1
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
(0)
|
0
|
0
|
|
| Pre-Tax Income |
0
N/A
|
(0)
N/A
|
(0)
-100%
|
(0)
-50%
|
(0)
N/A
|
(0)
-33%
|
(0)
N/A
|
(0)
-25%
|
(0)
-120%
|
(0)
-27%
|
(0)
-7%
|
(0)
+7%
|
(0)
+50%
|
(0)
-29%
|
(0)
+11%
|
(0)
N/A
|
(0)
N/A
|
(0)
+63%
|
(0)
N/A
|
(0)
N/A
|
(0)
N/A
|
(0)
-133%
|
(0)
N/A
|
(1)
-1 143%
|
(1)
-48%
|
(3)
-96%
|
(10)
-279%
|
(10)
-2%
|
(24)
-144%
|
(24)
+1%
|
(20)
+15%
|
(22)
-7%
|
(7)
+67%
|
(6)
+17%
|
(2)
+72%
|
1
N/A
|
1
+11%
|
0
-95%
|
(0)
N/A
|
(0)
-1 400%
|
2
N/A
|
4
+106%
|
4
+11%
|
6
+43%
|
5
-11%
|
5
-10%
|
7
+46%
|
6
-10%
|
6
-1%
|
6
+1%
|
6
-9%
|
2
-73%
|
1
-42%
|
3
+217%
|
4
+56%
|
7
+59%
|
(4)
N/A
|
(8)
-98%
|
(15)
-82%
|
(19)
-31%
|
(11)
+44%
|
(11)
0%
|
(9)
+19%
|
(5)
+41%
|
(6)
-19%
|
(4)
+38%
|
(3)
+9%
|
(2)
+36%
|
1
N/A
|
(6)
N/A
|
|
| Net Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
1
|
0
|
(0)
|
(0)
|
(0)
|
0
|
1
|
0
|
1
|
0
|
0
|
(1)
|
(1)
|
0
|
0
|
1
|
1
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
1
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Income from Continuing Operations |
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(2)
|
(9)
|
(9)
|
(23)
|
(23)
|
(20)
|
(22)
|
(8)
|
(6)
|
(1)
|
2
|
2
|
1
|
(0)
|
(0)
|
1
|
3
|
4
|
6
|
6
|
6
|
7
|
7
|
7
|
7
|
6
|
2
|
1
|
3
|
4
|
6
|
(5)
|
(9)
|
(14)
|
(19)
|
(10)
|
(10)
|
(9)
|
(5)
|
(6)
|
(4)
|
(3)
|
(2)
|
1
|
(6)
|
|
| Net Income (Common) |
0
N/A
|
(0)
N/A
|
(0)
-100%
|
(0)
-50%
|
(0)
N/A
|
(0)
-33%
|
(0)
N/A
|
(0)
-25%
|
(0)
-120%
|
(0)
-27%
|
(0)
-7%
|
(0)
+7%
|
(0)
+50%
|
(0)
-29%
|
(0)
+11%
|
(0)
N/A
|
(0)
N/A
|
(0)
+63%
|
(0)
N/A
|
(0)
N/A
|
(0)
N/A
|
(0)
-133%
|
(0)
N/A
|
(1)
-743%
|
(1)
-80%
|
(2)
-113%
|
(9)
-310%
|
(9)
-1%
|
(23)
-147%
|
(23)
+1%
|
(20)
+13%
|
(22)
-10%
|
(9)
+59%
|
(10)
-6%
|
(6)
+39%
|
(4)
+39%
|
(2)
+44%
|
(1)
+61%
|
1
N/A
|
2
+31%
|
3
+74%
|
5
+68%
|
6
+11%
|
7
+28%
|
7
-1%
|
6
-18%
|
7
+20%
|
6
-9%
|
6
+0%
|
7
+3%
|
6
-16%
|
2
-73%
|
1
-42%
|
3
+217%
|
4
+36%
|
6
+67%
|
(5)
N/A
|
(9)
-86%
|
(14)
-64%
|
(19)
-32%
|
(10)
+45%
|
(10)
0%
|
(9)
+15%
|
(5)
+41%
|
(6)
-19%
|
(4)
+38%
|
(3)
+9%
|
(2)
+36%
|
1
N/A
|
(6)
N/A
|
|
| EPS (Diluted) |
0.5
N/A
|
-0.5
N/A
|
-1
-100%
|
-1.5
-50%
|
-1.5
N/A
|
-2
-33%
|
-2
N/A
|
-2.5
-25%
|
-5.5
-120%
|
-7
-27%
|
-7.5
-7%
|
-7
+7%
|
-3.5
+50%
|
-4.5
-29%
|
-4
+11%
|
-4
N/A
|
-4
N/A
|
-1.5
+63%
|
-1.5
N/A
|
-1.5
N/A
|
-1.5
N/A
|
-3.5
-133%
|
-3.5
N/A
|
-0.33
+91%
|
-0.57
-73%
|
-1.19
-109%
|
-5
-320%
|
-4.81
+4%
|
-11.87
-147%
|
-11.75
+1%
|
-10.32
+12%
|
-11.23
-9%
|
-4.42
+61%
|
-4.63
-5%
|
-2.68
+42%
|
-0.83
+69%
|
-0.43
+48%
|
-0.15
+65%
|
0.27
N/A
|
0.22
-19%
|
0.38
+73%
|
0.65
+71%
|
0.7
+8%
|
0.77
+10%
|
0.68
-12%
|
0.59
-13%
|
1.01
+71%
|
0.88
-13%
|
0.76
-14%
|
0.83
+9%
|
0.71
-14%
|
0.19
-73%
|
0.12
-37%
|
0.38
+217%
|
0.5
+32%
|
0.85
+70%
|
-0.6
N/A
|
-1.13
-88%
|
-1.86
-65%
|
-2.45
-32%
|
-1.34
+45%
|
-1.35
-1%
|
-1.15
+15%
|
-0.67
+42%
|
-0.8
-19%
|
-0.5
+38%
|
-0.45
+10%
|
-0.29
+36%
|
0.07
N/A
|
-0.75
N/A
|
|