# EXCHANGERIGHT INCOME FUND · Edgar & Edgarette company card

> Exchangeright Income Fund grew revenue 7.7% in FY2025 to $93 million, operating margin 43.4% against a 24.7% median for real estate investment trusts, equity 26.5% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1771514 · fiscal year ended 2025-12-31 · 4 audited years read · [page](https://www.pops4.com/boards/company/1771514) · [JSON](https://www.pops4.com/boards/company/1771514.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $93M |
| Revenue growth, 1 year | 7.7% |
| Revenue growth per year | 11.8% |
| Operating margin | 43.4% (prior year 42.8%) |
| Net margin | 3.1% |
| Operating cash flow | $44M |
| Capital spending | — |
| Free cash flow | — |
| Cash | $11M |
| Long-term debt | $672M |
| Total assets | $1.2B |
| Total equity | $328M |
| Equity ÷ assets | 26.5% |
| Return on equity | 0.9% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Piotroski F: 4 of 9 (middling)
- Health Harbor boat: Sound ship · one warning sign · revenue is hard to predict: its 80% range is ±33%
- Cash Compass: Cash cow later · growing fast, and already turning revenue into cash

## Edgarette's reading

Exposure: revenue $92.9M (FY2025), total debt $672.2M. Experience: revenue up 7.7% on the year, up 11.8% a year over 3 years; operating margin 43.4%, up from 42.8%. Soundness: equity 26.5% of assets, return on equity 0.9%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $70.4M and $138.5M next year (method v4.1: its own 3-year record of growth weighed at 40% against $50M–100M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $72.3M to $135.2M. A statistical range, not company guidance. Against peers (79 filers, $50M+ revenue, real estate investment trusts): operating margin 43.4% against a 24.7% median; growth 7.7% against 3.7%.

Range logged 2026-09-29, receipt f8ea6bc99b232888, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 2, latest 2026-10-14 ([filing](https://www.sec.gov/Archives/edgar/data/1771514/000119312526421092/0001193125-26-421092-index.htm))

## Recent filings

- 10-Q · filed 2026-10-29 · [filing](https://www.sec.gov/Archives/edgar/data/1771514/000119312526437509/0001193125-26-437509-index.htm)
- 8-K · filed 2026-10-23 · 3.02 Unregistered Sales of Equity Securities · [filing](https://www.sec.gov/Archives/edgar/data/1771514/000119312526429611/0001193125-26-429611-index.htm)
- 8-K · filed 2026-10-22 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1771514/000119312526428771/0001193125-26-428771-index.htm)
- 8-K · filed 2026-10-14 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1771514/000119312526421092/0001193125-26-421092-index.htm)
- 8-K · filed 2026-10-07 · 1.01 Entry into a Material Definitive Agreement; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1771514/000119312526417006/0001193125-26-417006-index.htm)
- 8-K · filed 2026-10-06 · 3.02 Unregistered Sales of Equity Securities · [filing](https://www.sec.gov/Archives/edgar/data/1771514/000119312526415738/0001193125-26-415738-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001771514.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1771514

## Cite

POPS4, Edgar & Edgarette: EXCHANGERIGHT INCOME FUND company card, from the company's own SEC filings, accessed 2026-11-05, https://www.pops4.com/boards/company/1771514. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.