Vesta Real Estate Corporation SAB de CV
NYSE:VTMX
Income Statement
Earnings Waterfall
Vesta Real Estate Corporation SAB de CV
Income Statement
Vesta Real Estate Corporation SAB de CV
| Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-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 |
25
|
31
|
25
|
25
|
25
|
25
|
24
|
24
|
23
|
23
|
23
|
22
|
22
|
39
|
39
|
40
|
23
|
24
|
24
|
22
|
20
|
18
|
16
|
17
|
20
|
23
|
28
|
32
|
35
|
38
|
40
|
40
|
39
|
39
|
38
|
39
|
39
|
41
|
47
|
49
|
0
|
50
|
45
|
45
|
45
|
46
|
46
|
45
|
44
|
45
|
45
|
45
|
42
|
44
|
0
|
0
|
|
| Revenue |
50
N/A
|
51
+2%
|
52
+2%
|
52
+1%
|
52
-1%
|
52
+1%
|
54
+3%
|
56
+4%
|
59
+5%
|
61
+5%
|
64
+4%
|
66
+4%
|
69
+4%
|
72
+3%
|
74
+3%
|
76
+3%
|
79
+3%
|
81
+3%
|
84
+4%
|
87
+3%
|
91
+4%
|
95
+5%
|
100
+5%
|
105
+5%
|
109
+4%
|
115
+5%
|
121
+5%
|
127
+5%
|
133
+5%
|
138
+4%
|
177
+29%
|
179
+1%
|
144
-20%
|
182
+26%
|
184
+1%
|
186
+1%
|
150
-19%
|
188
+26%
|
192
+2%
|
196
+2%
|
161
-18%
|
203
+26%
|
210
+3%
|
214
+2%
|
178
-17%
|
228
+28%
|
245
+7%
|
256
+4%
|
214
-16%
|
275
+28%
|
236
-14%
|
243
+3%
|
252
+4%
|
259
+3%
|
263
+2%
|
272
+3%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(7)
|
(6)
|
(6)
|
(6)
|
(4)
|
(3)
|
(3)
|
(3)
|
(4)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(6)
|
(6)
|
(8)
|
(9)
|
(8)
|
(11)
|
(13)
|
(13)
|
(10)
|
(12)
|
(10)
|
(11)
|
(11)
|
(13)
|
(14)
|
(14)
|
(11)
|
(15)
|
(17)
|
(20)
|
(18)
|
(23)
|
(21)
|
(22)
|
(25)
|
(25)
|
(26)
|
(27)
|
|
| Gross Profit |
43
N/A
|
45
+3%
|
46
+2%
|
46
+1%
|
48
+3%
|
49
+2%
|
51
+4%
|
52
+3%
|
55
+5%
|
58
+5%
|
60
+4%
|
63
+4%
|
66
+5%
|
68
+3%
|
70
+3%
|
73
+4%
|
75
+3%
|
77
+3%
|
80
+4%
|
83
+3%
|
86
+4%
|
91
+5%
|
95
+5%
|
100
+5%
|
104
+5%
|
110
+5%
|
116
+5%
|
121
+5%
|
127
+5%
|
131
+3%
|
169
+29%
|
171
+1%
|
136
-20%
|
171
+26%
|
172
+0%
|
173
+1%
|
140
-19%
|
177
+26%
|
182
+3%
|
185
+2%
|
150
-19%
|
190
+27%
|
196
+3%
|
201
+2%
|
167
-17%
|
214
+28%
|
228
+7%
|
236
+4%
|
196
-17%
|
252
+29%
|
215
-15%
|
221
+3%
|
228
+3%
|
234
+3%
|
237
+2%
|
244
+3%
|
|
| Operating Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(3)
|
(9)
|
(3)
|
(5)
|
(6)
|
(8)
|
(8)
|
(7)
|
(6)
|
(6)
|
(9)
|
(9)
|
(7)
|
(8)
|
(7)
|
(8)
|
(9)
|
(10)
|
(10)
|
(9)
|
(10)
|
(11)
|
(11)
|
(12)
|
(13)
|
(13)
|
(14)
|
(15)
|
(15)
|
(16)
|
(21)
|
(22)
|
(18)
|
(22)
|
(22)
|
(22)
|
(17)
|
(22)
|
(24)
|
(25)
|
(21)
|
(27)
|
(28)
|
(28)
|
(23)
|
(31)
|
(33)
|
(33)
|
(29)
|
(35)
|
(31)
|
(33)
|
(32)
|
(32)
|
(30)
|
(31)
|
|
| Selling, General & Administrative |
(3)
|
(3)
|
(3)
|
(6)
|
(6)
|
(8)
|
(8)
|
(7)
|
(6)
|
(6)
|
(7)
|
(8)
|
(7)
|
(8)
|
(8)
|
(9)
|
(9)
|
(10)
|
(10)
|
(9)
|
(10)
|
(11)
|
(11)
|
(12)
|
(13)
|
(14)
|
(14)
|
(15)
|
(14)
|
(16)
|
(21)
|
(22)
|
(16)
|
(21)
|
(21)
|
(21)
|
(16)
|
(21)
|
(22)
|
(24)
|
(19)
|
(27)
|
(29)
|
(29)
|
(22)
|
(31)
|
(32)
|
(33)
|
(28)
|
(35)
|
(30)
|
(31)
|
(30)
|
(31)
|
(30)
|
(31)
|
|
| 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
|
(1)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(2)
|
0
|
0
|
0
|
(1)
|
(0)
|
(1)
|
(1)
|
(2)
|
(2)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
|
| Other Operating Expenses |
0
|
(6)
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
0
|
0
|
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
|
2
|
0
|
2
|
(0)
|
(1)
|
0
|
0
|
2
|
2
|
|
| Operating Income |
40
N/A
|
36
-11%
|
42
+18%
|
41
-4%
|
42
+3%
|
41
-1%
|
43
+3%
|
45
+7%
|
49
+8%
|
51
+5%
|
52
+0%
|
54
+5%
|
58
+8%
|
60
+3%
|
63
+5%
|
65
+3%
|
66
+2%
|
68
+3%
|
71
+4%
|
74
+4%
|
76
+3%
|
80
+5%
|
84
+5%
|
88
+5%
|
91
+4%
|
97
+6%
|
101
+5%
|
107
+5%
|
112
+5%
|
116
+3%
|
148
+28%
|
149
+1%
|
119
-21%
|
149
+26%
|
149
+0%
|
150
+1%
|
122
-19%
|
154
+26%
|
158
+2%
|
160
+1%
|
129
-19%
|
163
+26%
|
168
+3%
|
172
+3%
|
143
-17%
|
182
+27%
|
195
+7%
|
203
+4%
|
167
-18%
|
217
+30%
|
183
-16%
|
188
+3%
|
196
+4%
|
202
+3%
|
207
+3%
|
214
+3%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
(31)
|
(29)
|
(32)
|
(15)
|
8
|
15
|
9
|
2
|
80
|
33
|
44
|
35
|
(6)
|
(62)
|
(68)
|
(80)
|
(32)
|
(24)
|
(33)
|
(17)
|
25
|
36
|
55
|
56
|
67
|
61
|
48
|
48
|
17
|
(38)
|
(44)
|
(49)
|
67
|
31
|
24
|
32
|
6
|
(8)
|
(10)
|
(19)
|
113
|
(63)
|
(56)
|
(56)
|
150
|
144
|
145
|
147
|
217
|
(38)
|
(33)
|
(35)
|
236
|
(45)
|
(35)
|
(33)
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(1)
|
(1)
|
0
|
0
|
(1)
|
(1)
|
(1)
|
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(1)
|
(2)
|
(1)
|
(2)
|
(2)
|
(2)
|
(2)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(2)
|
(3)
|
(3)
|
(2)
|
(2)
|
(2)
|
(2)
|
(2)
|
|
| Total Other Income |
24
|
32
|
31
|
10
|
0
|
14
|
7
|
23
|
(0)
|
18
|
27
|
22
|
(0)
|
43
|
67
|
65
|
1
|
7
|
(13)
|
0
|
1
|
57
|
29
|
15
|
0
|
(57)
|
(22)
|
(7)
|
0
|
55
|
94
|
88
|
1
|
33
|
(1)
|
(11)
|
0
|
4
|
73
|
94
|
14
|
217
|
202
|
240
|
(1)
|
10
|
19
|
51
|
0
|
357
|
366
|
295
|
(3)
|
150
|
57
|
38
|
|
| Pre-Tax Income |
33
N/A
|
39
+18%
|
41
+6%
|
36
-14%
|
49
+37%
|
70
+44%
|
59
-16%
|
70
+19%
|
128
+82%
|
101
-21%
|
123
+22%
|
111
-9%
|
51
-54%
|
40
-23%
|
61
+53%
|
47
-22%
|
34
-28%
|
50
+48%
|
24
-52%
|
56
+130%
|
100
+80%
|
172
+72%
|
166
-3%
|
157
-5%
|
158
+0%
|
100
-37%
|
126
+27%
|
147
+16%
|
128
-13%
|
131
+3%
|
196
+49%
|
187
-4%
|
185
-1%
|
211
+14%
|
170
-19%
|
170
0%
|
128
-25%
|
149
+17%
|
219
+47%
|
234
+7%
|
256
+9%
|
317
+24%
|
313
-1%
|
354
+13%
|
292
-18%
|
335
+15%
|
357
+7%
|
400
+12%
|
382
-5%
|
532
+39%
|
513
-4%
|
445
-13%
|
426
-4%
|
304
-29%
|
227
-25%
|
217
-5%
|
|
| Net Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(20)
|
(18)
|
(17)
|
(10)
|
(8)
|
(8)
|
(10)
|
(19)
|
(38)
|
(39)
|
(37)
|
(40)
|
(27)
|
(30)
|
(47)
|
(52)
|
(38)
|
(39)
|
(36)
|
(34)
|
(55)
|
(56)
|
(27)
|
(22)
|
(32)
|
(20)
|
(54)
|
(48)
|
(35)
|
(52)
|
(56)
|
(74)
|
(51)
|
(101)
|
(137)
|
(113)
|
(61)
|
(68)
|
(11)
|
(57)
|
(82)
|
(94)
|
(110)
|
(94)
|
(48)
|
(36)
|
(35)
|
(63)
|
(65)
|
(91)
|
(89)
|
(45)
|
(203)
|
(191)
|
(195)
|
(212)
|
|
| Income from Continuing Operations |
13
|
21
|
24
|
26
|
41
|
62
|
48
|
51
|
89
|
63
|
86
|
71
|
24
|
10
|
14
|
(5)
|
(4)
|
12
|
(12)
|
22
|
45
|
116
|
139
|
135
|
126
|
80
|
73
|
98
|
93
|
79
|
140
|
113
|
135
|
110
|
33
|
57
|
67
|
81
|
208
|
177
|
174
|
223
|
203
|
261
|
244
|
299
|
323
|
337
|
317
|
442
|
424
|
400
|
223
|
113
|
32
|
5
|
|
| Net Income (Common) |
13
N/A
|
21
+56%
|
24
+15%
|
26
+8%
|
41
+59%
|
62
+52%
|
48
-22%
|
51
+5%
|
89
+76%
|
63
-30%
|
86
+37%
|
71
-17%
|
24
-66%
|
10
-61%
|
14
+43%
|
(5)
N/A
|
(4)
+23%
|
12
N/A
|
(12)
N/A
|
22
N/A
|
45
+106%
|
116
+157%
|
139
+20%
|
135
-3%
|
126
-7%
|
80
-36%
|
73
-9%
|
98
+35%
|
93
-5%
|
79
-15%
|
140
+77%
|
113
-19%
|
135
+19%
|
110
-18%
|
33
-70%
|
57
+74%
|
67
+17%
|
81
+21%
|
208
+156%
|
177
-15%
|
174
-1%
|
223
+28%
|
203
-9%
|
261
+28%
|
244
-7%
|
299
+23%
|
323
+8%
|
337
+4%
|
317
-6%
|
442
+39%
|
424
-4%
|
400
-6%
|
223
-44%
|
113
-49%
|
32
-72%
|
5
-85%
|
|
| EPS (Diluted) |
0.06
N/A
|
0.09
+50%
|
0.1
+11%
|
0.07
-30%
|
0.14
+100%
|
0.13
-7%
|
0.09
-31%
|
0.09
N/A
|
0.2
+122%
|
0.12
-40%
|
0.17
+42%
|
0.14
-18%
|
0.05
-64%
|
0.01
-80%
|
0.01
N/A
|
-0.02
N/A
|
-0.01
+50%
|
0.02
N/A
|
-0.02
N/A
|
0.04
N/A
|
0.07
+75%
|
0.18
+157%
|
0.22
+22%
|
0.21
-5%
|
0.21
N/A
|
0.13
-38%
|
0.12
-8%
|
0.17
+42%
|
0.16
-6%
|
0.13
-19%
|
0.24
+85%
|
0.19
-21%
|
0.23
+21%
|
0.19
-17%
|
0.05
-74%
|
0.1
+100%
|
0.12
+20%
|
0.14
+17%
|
0.3
+114%
|
0.27
-10%
|
0.25
-7%
|
0.32
+28%
|
0.29
-9%
|
0.38
+31%
|
0.36
-5%
|
0.44
+22%
|
0.37
-16%
|
0.35
-5%
|
0.41
+17%
|
0.49
+20%
|
0.47
-4%
|
0.44
-6%
|
0.25
-43%
|
0.13
-48%
|
0.04
-69%
|
0.01
-75%
|
|