A
AMREP CORP.
AXRCIK 0000006207NYSENon-AcceleratedSmaller ReportingLand Subdividers & Developers (No Cemeteries)OklahomaFY ends Apr 30
Period
FY 2025
Revenue
$49.69M
Net Income
$12.72M
Total Assets
$133.78M
Equity
$129.96M
Shares Out
5.27M
Op. Cash Flow
$10.24M
Business
AMREP CORP. develops real estate and builds homes through its subsidiaries, operating primarily as a land developer and homebuilder. It offers developed and undeveloped residential, commercial and industrial real property, entitlements, infrastructure installation, site planning, water and utility coordination, community amenities, landscaping services and single‑family detached and attached homes (both built‑to‑order and speculative). The company’s key business segments are land development and homebuilding. It conducts substantially all of its operations in the United States, concentrated in Rio Rancho and Sandoval County, New Mexico, marketing both directly and through brokers to national, regional and local builders and end buyers.
Summary from filing dated 2025-07-25
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 | FY 2023 2023-04-30 | FY 2022 2022-04-30 | FY 2021 2021-04-30 |
|---|---|---|---|---|---|---|
| Total revenues | 50 | 51 | 49 | 59 | 40 | |
| General and administrative expenses | 7 | 7 | 5 | 5 | 5 | |
| Total costs and expenses | 38 | 44 | 43 | 38 | 31 | |
| Operating income | 12 | 8 | 6 | 21 | 9 | |
| Interest income, net | 2 | 823,000 | 8,000 | 2,000 | −40,000 | |
| Other expense | −4,000 | — | — | — | — | |
| Income before income taxes | 14 | 8 | 8 | 22 | 10 | |
| Provision for income taxes | 1 | 2 | −14 | 6 | 3 | |
| Net income | 13 | 7 | 22 | 16 | 7 | |
| Earnings per share - basic (in dollars per share) | 2.39 | 1.26 | 4.13 | 2.21 | 0.95 | |
| Earnings per share - diluted (in dollars per share) | 2.37 | 1.25 | 4.11 | 2.21 | 0.95 | |
| Weighted average number of common shares outstanding - basic (in shares) | 5 | 5 | 5,282 | 7,170 | 7,743 | |
| Weighted average number of common shares outstanding - diluted (in shares) | 5 | 5 | 5,307 | 7,193 | 7,773 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 | FY 2023 2023-04-30 | FY 2022 2022-04-30 | FY 2021 2021-04-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 39 | 30 | 20 | 16 | 25 | |
| Restricted cash | 455,000 | 547,000 | — | — | — | |
| Real estate inventory | 67 | 66 | 66 | 67 | 56 | |
| Investment assets, net | 15 | 13 | 14 | 9 | 14 | |
| Other assets | 3 | 3 | 3 | 2 | 645,000 | |
| Income taxes receivable, net | 317,000 | 27,000 | — | — | — | |
| Deferred income taxes, net | 9 | 11 | 12 | 958,000 | 3 | |
| TOTAL ASSETS | 134 | 123 | 116 | 95 | 97 | |
| Accounts payable and accrued expenses | 4 | 5 | 5 | 6 | 4 | |
| Notes payable | 26,000 | 35,000 | 44,000 | 2 | 3 | |
| TOTAL LIABILITIES | 4 | 5 | 5 | 12 | 8 | |
| Commitments and Contingencies (Note 13) | — | — | — | — | — | |
| Common stock, $.10 par value; shares authorized - 20,000,000; shares issued - 5,287,449 at April 30, 2025 and 5,271,309 at April 30, 2024 | 528,000 | 526,000 | 526,000 | 524,000 | 730,000 | |
| Capital contributed in excess of par value | 33 | 33 | 33 | 32 | 45 | |
| Retained earnings | 96 | 83 | 77 | 55 | 48 | |
| Accumulated other comprehensive income, net | — | 1 | 1 | −5 | −5 | |
| TOTAL SHAREHOLDERS' EQUITY | 130 | 118 | 111 | 83 | 89 | |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 134 | 123 | 116 | 95 | 97 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-04-30 | FY 2024 2024-04-30 | FY 2023 2023-04-30 | FY 2022 2022-04-30 | FY 2021 2021-04-30 |
|---|---|---|---|---|---|---|
| Depreciation | 179,000 | 149,000 | 63,000 | 225,000 | 554,000 | |
| Stock-based compensation | 423,000 | 317,000 | 238,000 | 217,000 | 132,000 | |
| Deferred income tax provision | 839,000 | 1 | −14 | 2 | 2 | |
| Net periodic pension cost | — | 260,000 | −283,000 | −490,000 | −36,000 | |
| Excess pension funds transfer | — | 547,000 | 0 | — | — | |
| Real estate inventory | −767,000 | −358,000 | — | — | — | |
| Investment assets, net | −2 | 1 | — | — | — | |
| Other assets | 544,000 | 567,000 | −1 | 113,000 | 339,000 | |
| Accounts payable and accrued expenses | −1 | −42,000 | −1 | 1 | 1 | |
| Taxes payable, net | −290,000 | 15,000 | −4 | 4 | 152,000 | |
| Net cash provided by operating activities | 10 | 11 | 6 | 15 | 13 | |
| Capital expenditures for property and equipment | −583,000 | −457,000 | −131,000 | −1 | −5,000 | |
| Proceeds from the sale of property and equipment | 30,000 | — | — | — | — | |
| Net cash used in investing activities | −553,000 | −457,000 | −131,000 | −1 | −5,000 | |
| Debt payments | −9,000 | −9,000 | −2 | −8 | −7 | |
| Net cash used in financing activities | −9,000 | −9,000 | −2 | −23 | −5 | |
| Increase in cash, cash equivalents and restricted cash | 10 | 10 | 4 | −9 | 7 | |
| Income taxes refunded, net | 157,000 | 308,000 | 134,000 | 3,000 | 153,000 |
Filings
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