NLCP NewLake Capital Partners, Inc.

Overview and Growth

Fiscal 2025 results for NewLake Capital Partners, Inc. combined $51.07M of revenue with net income of $26.32M and an operating cash inflow of $42.46M. At $51.07M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 1.9% from $50.13M in fiscal 2024, increasing the company’s operating scale. On a per-share basis, diluted EPS was $1.28, which connects the reported earnings outcome with the company’s diluted share count. The per-share result recorded a 0.8% increase from fiscal 2024 diluted EPS of $1.27. Diluted shares averaged 20.99M; this is the reported share base over which the company’s diluted per-share earnings were spread. Diluted shares moved 0.1% from 20.96M in fiscal 2024, leaving the current share base higher year over year. Total assets stood at $420.83M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. The revenue-to-assets relationship was 0.12x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

Operations produced $27.25M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 53.4% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. Net income came to $26.32M, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 51.5% of revenue, connecting the absolute net income figure with the company’s top-line scale. EBITDA was $42.77M, supplying an additional view of reported operating earnings before interest, taxes, depreciation, and amortization. Return on period-end equity was 6.7%, relating annual net income to the equity capital on the balance sheet. The net-income-to-assets relationship measured 6.3%, showing earnings relative to the full balance sheet. The company moved from fiscal 2024 net income of $26.11M to $26.32M, with the current outcome ending above that comparison.

Liquidity and Capital Structure

The company held $420.83M of assets against $26.14M of liabilities and $394.69M of equity, revealing how the asset base was financed. Reported cash and equivalents were $23.94M, separating immediately recognizable cash resources from the rest of the current-asset base. The equity-to-assets relationship was 93.8%, placing book capital against the total resource base. Relative to total assets, liabilities measured 6.2%, complementing the separate equity-based view of the company’s capital structure. The cash-to-assets relationship was 5.7%, comparing reported cash and equivalents with the full positive asset balance. Total assets were 2.5% lower than fiscal 2024 assets of $431.54M, measuring the company’s own balance-sheet change. Book equity was 2.3% lower than fiscal 2024 equity of $403.97M, showing how shareholder capital changed year over year. Cash and equivalents were 18.4% higher than fiscal 2024 cash of $20.21M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was $42.46M, a reported cash inflow that can be compared directly with net income and capital spending. The operating-cash-flow-to-net-income relationship was 1.61x, comparing cash generated by operations with the bottom-line earnings result. Operating cash flow of $42.46M finished below fiscal 2024 operating cash flow of $43.35M, showing the year-over-year direction of cash generation.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.