Centerspace (CSR) intrinsic value & 10-year financials
Centerspace (CSR) has a Graham intrinsic value of $21.00 per share. At $56.04 on Oct 17, 2026, the stock trades 167% above that value. Over the last 10 fiscal years revenue shrank 7.2% a year to $273.7M, with an average return on invested capital of 2.9%.
- Graham intrinsic value
- $21.00
- Share price (Oct 17, 2026)
- $56.04
- Price vs Graham value
- 167% above
- Market cap
- $940.1M
- Revenue (FY2025)
- $273.7M
- Revenue growth (10-yr CAGR)
- -7.2%
- ROIC (10-yr avg)
- 2.9%
- Free cash flow (FY2025)
- —
CSR 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $273.7M | $17.1M | $1.02 | — | 23.6% | 1.0% |
| FY2024 | $261.0M | -$11.3M | -$1.27 | — | 7.8% | -0.7% |
| FY2023 | $261.3M | $41.3M | $2.32 | — | 32.3% | 2.5% |
| FY2022 | $256.7M | -$14.1M | -$1.35 | $91.9M | 5.4% | -0.8% |
| FY2021 | $201.7M | -$29.0K | -$0.47 | $82.8M | 14.8% | -0.0% |
| FY2020 | $178.0M | $4.4M | -$0.15 | $59.6M | 4.7% | 0.7% |
| FY2019 | $185.8M | $78.7M | $6.00 | — | 6.1% | 7.1% |
| FY2018 | $169.7M | $116.8M | $8.71 | — | -14.0% | 10.6% |
| FY2017 | $160.1M | $43.3M | $2.58 | — | -8.6% | 3.5% |
| FY2016 | $536.7M | $72.0M | — | — | 7.4% | 5.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
CENTERSPACE is facing top-line stagnation, with revenue contracting over the decade.
CENTERSPACE has historically struggled to out-earn its cost of capital, averaging just 3.2% ROIC.
Over the decade, CENTERSPACE shows that management has aggressively returned capital to shareholders by retiring 87.8% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, CENTERSPACE is modeled at 7.7% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $21.00 per share.