NEN Financials NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP
15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 12.5% per year over the past 5 years.
Net income has grown faster than revenue (33.5% vs 12.5% per year).
Operating margin has contracted, at 2682.5% in the latest year.
Financial health
Total debt ($531M) exceeds cash ($27M); net debt is $504M.
Total debt has grown slower than revenue (8.6% vs 12.5% per year).
Operating income covered interest expense 1.1× in the latest year.
Total debt is 12× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$795854
$6M
0.0%
2682.5%
—
$531M
$27M
2024
$769586
$16M
0.0%
3296.7%
—
$409M
$18M
2023
$588975
$8M
0.0%
3194.5%
—
$411M
$18M
2022
$733064
$4M
0.0%
2467.5%
—
$414M
$50M
2021
$462862
-$3M
0.0%
3077.1%
—
—
$96M
2020
$441159
$1M
0.0%
3393.1%
—
—
$19M
2019
$465140
$7M
0.0%
3713.2%
—
—
$8M
2018
$478330
$4M
0.0%
3118.8%
—
—
$9M
2017
$457167
$7M
0.0%
3094.0%
—
—
$7M
2016
$433385
$5M
0.0%
3059.6%
—
—
$7M
2015
—
$4M
—
—
—
—
$10M
2014
—
$1M
—
—
—
$196M
$14M
2013
—
$6M
—
—
—
$199M
$14M
2012
—
$4M
—
—
—
$138M
$7M
2011
—
$9M
—
—
—
—
$4M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$204663
-$4M
0.0%
731.0%
—
$530M
$26M
Dec '25
$205587
-$1M
0.0%
1608.9%
—
$531M
$27M
Sep '25
$195375
-$521828
0.0%
2428.3%
—
$514M
$13M
Jun '25
$202117
$4M
0.0%
3494.8%
—
$514M
$17M
Mar '25
$192774
$4M
0.0%
3233.6%
—
$408M
$31M
Dec '24
$189710
$4M
0.0%
3484.6%
—
$409M
$18M
Sep '24
$187902
$4M
0.0%
3443.6%
—
$409M
$15M
Jun '24
$209007
$4M
0.0%
3128.2%
—
$410M
$13M
Mar '24
$182967
$3M
0.0%
3143.6%
—
$411M
$29M
Dec '23
$172621
$2M
0.0%
2737.7%
—
$411M
$18M
Sep '23
$157322
$2M
0.0%
3114.2%
—
$412M
$16M
Jun '23
$136073
$2M
0.0%
3482.2%
—
$413M
$56M
Mar '23
$122959
$2M
0.0%
3620.2%
—
$414M
$25M
Dec '22
$402603
$2M
0.0%
1276.6%
—
$414M
$50M
Sep '22
$103868
$995224
0.0%
4391.0%
—
$415M
$59M
Jun '22
$106191
$242985
0.0%
4342.1%
—
$415M
$133M
Mar '22
$120403
$342418
0.0%
3136.9%
—
$373M
$92M
Dec '21
$125882
-$3M
0.0%
2469.7%
—
—
$96M
Sep '21
$114180
-$75385
0.0%
3110.2%
—
$283M
$25M
Jun '21
$114128
$569891
0.0%
3668.9%
—
$284M
$23M
Valuation over time
How the market has priced NEN against its own fundamentals since 2023-04 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 58.9× (Apr '23) to 30.4× (Jun '26).
The price-to-sales ratio has fallen from 299.2× (Apr '23) to 230.3× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is NEN growing its revenue and profit?
Over the past 5 years, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP's revenue has grown 12.5% per year, and net income grown 33.5% per year. These are computed facts, not advice.
How much debt does NEN have?
As of FY2025, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP reported $531M of total debt against $27M of cash; operating income covered interest expense 1.1×.
What is NEN's profit margin?
In FY2025, gross margin was —, operating margin 2682.5%, and net margin 757.8%.
What is NEN's P/E ratio?
As of Jun '26, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP traded at a price-to-earnings ratio of about 30.4× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.