Orion Office REIT Inc. ONL

2.51 (0.01) (0.40%) as of 25 Sep
Market cap
$143.8M
P/E
0.0×

Insider Decisions

in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 6.46%

Capital & Financial Ratios

Market Cap 143.75
Revenue 142.92
Net Income (93.81)
Free Cash Flow 68.21
Net Debt 370.27
Current Ratio 4.11
Debt/Equity 0.68
P/E ratio 0.00
P/S ratio 1.00
P/B ratio 0.23
Past 5Y EPS Growth —
This Y EPS Growth 100.81%
Next Y EPS Growth (1,400.00%)
Next 5Y EPS Growth 39.37%
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate 0.40
Annual Dividend Yield 8.23%
total individual payouts
2027 Powerpack
2026 0.11
0.02
0.02
0.02
2025 0.11
0.02
0.02
0.02
0.02
2024 0.40
0.10
0.10
0.10
0.10
2023 0.40
0.10
0.10
0.10
0.10
2022 0.40
0.10
0.10
0.10
0.10
2020 Powerpack
2019 Powerpack
2018 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 22 57 61 64
Receivables 25 23 35 41
Inventory — — — —
Other — — — —
47 80 96 105
2023 2024 2025 Q'26
Payables 30 32 40 25
ST’ Debt — — — —
Other — — — —
30 32 40 25
in millions of $

Compound Annual Growth

10y 5y 3y
Sales — 22.52% (10.81%)
Cash Flow — (11.04%) (40.90%)
Earnings — 0.00% 0.00%
Book Value — 4.67% (13.82%)

Revenue

Mar Jun Sep Dec Year
’26 36 34 — — —
’25 38 37 37 35 148
’24 47 40 39 38 165
’23 50 52 49 44 195
’22 53 53 52 50 208
’21 13 13 13 41 80
’20 — — — — 53
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 (8) 16 — — —
’25 (2) 12 6 9 24
’24 11 17 14 12 54
’23 11 32 26 20 89
’22 28 24 34 28 114
’21 11 10 8 27 56
’20 — — — 42 42
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 (26) 67 — — —
’25 (8) 24 10 17 43
’24 7 15 (25) 6 2
’23 8 29 33 21 92
’22 26 26 49 34 134
’21 11 10 8 17 46
’20 — — — 42 42
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 (0.24) 0.42 — — —
’25 (0.17) (0.45) (1.23) (0.64) (2.48)
’24 (0.47) (0.60) (0.18) (0.59) (1.84)
’23 (0.16) (0.28) (0.29) (0.29) (1.02)
’22 (0.17) (0.27) (0.94) (0.33) (1.72)
’21 0.08 0.08 (0.03) (0.97) (0.84)
’20 — — — — (0.03)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
— — — — — 16.85 8.29 4.41 3.01 1.46

Analyst estimates 2026–2028

Powerpack
Low Price
— — — — — 19.27 18.80 9.75 5.91 4.25
High Price
— — — — — 26 35 38 40 37
Employees
— — — 0 0 3 6 5 4 4
Revenue/Emp
— — — 53 53 80 208 195 165 148
Revenue
— — — 88.97% 89.21% 83.18% 70.44% 68.84% 60.48% 56.09%
Gross Margin
— — — 15 (2) (47) (97) (57) (103) (139)
EBT
— — — 28.59% (3.55%) (59.33%) (46.73%) (29.15%) (62.33%) (94.16%)
EBT Margin
— — — 15 (2) (47) (97) (57) (103) (139)
Net Income
— — — 26 26 45 136 113 105 62
Depreciation
— — — 0.94 0.94 1.41 3.67 3.46 2.95 2.63
Revenue/Sh
— — — 0.27 (0.03) (0.84) (1.72) (1.02) (1.84) (2.48)
Earnings/Sh
— — — 0.71 0.75 0.99 2.02 1.58 0.97 0.42
Cash Flow/Sh
— — — (0.01) (0.01) (0.18) 0.36 0.05 (0.93) 0.35
Capex/Sh
— — — 0.70 0.74 0.82 2.37 1.63 0.04 0.77
Free CF/Sh
— — — 0.00 8.78 19.22 17.23 15.72 13.69 11.11
Book Value/Sh
— — — 57 57 57 57 56 56 56
Shares
— — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00
PE Ratio
— — — 0.00 0.00 13.26 2.27 1.67 1.26 0.86
PS Ratio
— — — 1,064,002.54 1,064,002.54 0.97 0.48 0.37 0.27 0.20
PB Ratio
— — — 0.00 0.00 20.63 5.54 4.85 4.95 4.78
EV/Sales
— — — 15.36 15.36 35.61 8.58 10.33 403.89 16.25
EV/FCF
— — — 40 42 56 114 89 54 24
Op' Cash Flow
— — — (1) 0 (10) 20 3 (52) 20
Capex
— — — 39 42 46 134 92 2 43
FCF
— — — — 7 (325) 16 17 48 56
Working Cap'
— — — — 37 617 701 469 490 464
Total Debt
— — — — 37 588 680 446 433 403
Net Debt
— — — 0 497 1,088 976 887 765 625
Sh' Equity
— — — 5.59% (0.70%) (4.12%) (5.85%) (3.83%) (7.46%) (11.11%)
ROA
— — — 0.00% 0.12% (1.46%) (2.56%) (1.27%) (3.61%) (5.87%)
ROIC
— — — 0.00% (0.24%) (5.99%) (9.45%) (6.15%) (12.47%) (20.05%)
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Orion Office REIT Inc. (ONL) key facts

  • Orion Office REIT Inc. (ONL) is a Reit Office company in the Real Estate sector, listed on the New York Stock Exchange.
  • Orion Office REIT Inc.’s revenue for fiscal 2025 (year ended December 2025) was $147.6 million, down 10.4% from fiscal 2024.
  • Orion Office REIT Inc. reported a net loss of $139.3 million, or a loss of $2.48 per share, for fiscal 2025.
  • As of September 25, 2026, ONL traded at $2.51, a market capitalization of $143.8 million.
  • Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 1.0× sales.
  • Orion Office REIT Inc. pays an annual dividend of $0.40 per share, a yield of 8.23%.
  • Return on equity was −20.1% and debt-to-equity 0.68.

Source: company filings (standardised) and stockrow calculations.

Orion Office REIT Inc. (ONL) Latest News

News by impact score

Fine-tune

14 Aug

3 transcript

Orion Properties (ONL) held its Q2 2026 earnings call covering quarterly financial results and outlook. Quarterly earnings call delivers financial updates with moderate short-term effects on share price and sentiment.

8 Aug

3

Orion Office REIT Inc. (ONL) held its Q2 earnings call and presented operational and financial highlights. Q2 earnings call highlights typically provide moderate insight into financial results and outlook without indicating major strategic shifts.

3 transcript

Orion Office REIT Inc. (ONL) reported its Q2 2025 earnings, highlighting challenges in the current market environment. The company is navigating various operational hurdles while focusing on strategic initiatives to enhance performance. Key metrics were discussed, showcasing both the difficulties faced and the steps being taken to address them. Management emphasized a commitment to long-term growth despite short-term obstacles. Current challenges and strategic initiatives may moderately influence financial performance and competitive positioning.

7 Aug

4

Orion Office REIT Inc. (ONL) Q2 2026 earnings call highlighted ongoing strategic review progress alongside operational updates. Strategic review progress signals major moves that could reshape company trajectory and investor views.

3 transcript

Orion Properties Inc. released Q2 2026 earnings call summary covering financial results and outlook for Orion Office REIT Inc. Earnings call data directly informs quarterly performance metrics and investor outlook.

6 Aug

4

Orion Properties Inc. reported its financial results for the second quarter of 2025, highlighting key metrics such as revenue growth and occupancy rates. The company experienced an increase in net income compared to the previous quarter, driven by strategic leasing initiatives and improved operational efficiencies. Management expressed optimism about future performance, citing ongoing demand for office space and plans for further expansion. The results reflect a positive trend in the commercial real estate sector, positioning Orion favorably in the market. Significant revenue growth and strategic initiatives indicate a strong potential for future performance.

3

Orion Properties Inc. reports second quarter 2026 results for Orion Office REIT Inc. (ONL). Quarterly results release supplies key financial data that can shift short-term investor views and trading activity.

14 May

3

Orion Office REIT Inc. (ONL) released highlights from its Q1 earnings call, detailing financial results, occupancy rates, leasing activity, and forward guidance. Q1 earnings highlights cover financial performance and outlook, moderately influencing investor sentiment and stock trajectory.

8 May

4

Orion Properties Inc. released Q1 2026 earnings call summary detailing financial performance, operational updates, and outlook for Orion Office REIT Inc. (ONL). Q1 earnings call summary provides key financial metrics and forward guidance that significantly influence ONL's valuation and investor sentiment.

7 May

3

Orion Properties Inc. announced First Quarter 2026 results. Quarterly earnings announcements affect financial performance and investor sentiment.

3 earnings

Orion Properties Inc. reported its first quarter 2025 results, highlighting the leasing of 380,000 square feet and an additional 73,000 square feet post-quarter, the sale of three vacant properties for $19.1 million, and a declared dividend for the second quarter. The company reaffirmed its 2025 outlook, with total revenues of $38.0 million and a net loss of $9.4 million. Orion's strategy focuses on increasing portfolio concentration towards dedicated-use assets, aiming for higher renewal prospects and stabilized cash flow. The company also announced pending sales agreements for two properties totaling $27.3 million. The leasing and sales activities, along with the strategic shift towards dedicated-use assets, are expected to moderately influence Orion's financial performance and market positioning.

6 Mar

4

Orion Office REIT Inc. (ONL) Q4 2025 earnings call highlights strategies for navigating market volatility amid operational challenges. Q4 earnings highlights detail strategic responses to market volatility, likely significantly influencing ONL's financial trajectory and investor sentiment.

4 transcript

Orion Office REIT Inc. (ONL) Q4 2025 earnings call transcript released, covering financial results, operations, and outlook. Q4 2025 earnings transcript discloses financial performance and guidance impacting ONL's stock trajectory.

4

Orion Office REIT Inc. (ONL) released Q4 earnings call highlights detailing financial performance, operational updates, and forward guidance. Q4 earnings call highlights disclose key financial results and strategic outlook, poised to significantly sway investor sentiment and stock trajectory.

4

Orion Properties Inc. released summary of Q4 2025 earnings call highlighting financial results, occupancy rates, and future outlook for Orion Office REIT Inc. (ONL). Q4 earnings call summary discloses financial performance and guidance directly influencing ONL's valuation and investor sentiment.

5 Mar

4

Orion Properties Inc. announced fourth quarter and full year 2025 financial results. Quarterly and annual earnings results directly affect financial performance, dividends, and investor sentiment for the REIT.

3

Orion Office REIT Inc. has officially changed its name to Orion Properties and has reported its financial results for the fourth quarter and full year of 2024. The company aims to enhance its brand identity and market presence with this rebranding initiative, alongside the release of its financial performance metrics. The name change and financial results may moderately influence investor sentiment and market positioning.

19 Feb

4

Orion Office REIT Inc. (ONL) secured a new $215 million revolving credit facility and extended its $355 million CMBS loan, positioning the company for continued execution of its business plan. New $215 million revolving facility and $355 million CMBS loan extension provide enhanced liquidity and financial flexibility to drive strategic growth.

27 Jan

3

Orion Office REIT Inc. (ONL) has announced the tax treatment of its dividends for 2025, providing clarity on how these payments will be classified for tax purposes. This announcement is crucial for investors as it impacts the net income they will receive from their investments in the company. The tax treatment of dividends can moderately influence investor sentiment and financial performance.

26 Jan

4

Orion Office REIT Inc. has initiated a strategic options review process aimed at maximizing stockholder value. The company is exploring various alternatives, which may include asset sales, mergers, or other strategic partnerships. This decision reflects Orion's commitment to enhancing shareholder returns and optimizing its portfolio amidst changing market conditions. The strategic options review process could significantly impact Orion's future performance and investor sentiment.

23 Jan

3

Orion Office REIT Inc. (ONL) has seen a significant shift in its investment landscape as a fund divested from a $6.5 million position. This decision comes amidst a backdrop of a steel stock that has surged 47% over the past year, indicating potential market volatility and changing investor sentiments. The implications of this divestment could affect ONL's market performance and investor confidence moving forward. The divestment from a significant position may moderately influence investor sentiment and market dynamics for ONL.

16 Dec

4

Kawa Capital Management is advocating for greater accountability and transparency from the board of Orion Office REIT Inc. The investment firm has expressed concerns regarding the company's governance practices and is pushing for changes to enhance shareholder value. Kawa's actions indicate a desire for improved oversight and strategic direction at Orion Properties, which could influence the company's future operations and investor relations. Increased accountability and transparency demands from a significant investor can lead to strategic shifts that impact the company's governance and market perception.

19 Nov

3

Orion Office REIT Inc. has confirmed the receipt of director nominees for its upcoming annual meeting. The company is preparing to address shareholder interests and governance matters as it moves forward with its strategic initiatives. This development highlights the ongoing engagement with stakeholders and the importance of board composition in guiding the company's future direction. The nomination of directors may influence governance and shareholder sentiment, but it is not expected to fundamentally alter the company's trajectory.

8 Nov

3 transcript

Orion Office REIT Inc. (ONL) reported its Q3 2025 earnings, highlighting challenges in the current market environment. The company is navigating various obstacles, including fluctuating demand and operational adjustments. Management emphasized strategic initiatives aimed at stabilizing performance and enhancing portfolio value. Despite the hurdles, there are signs of resilience and potential for recovery in the upcoming quarters. Moderate challenges and strategic initiatives may influence financial performance and market positioning.

6 Nov

4

Orion Properties Inc. reported its third quarter 2025 results, highlighting significant revenue growth and improved occupancy rates across its portfolio. The company attributed its success to strategic acquisitions and effective property management. Additionally, Orion announced plans for further expansion and investment in sustainable practices, aiming to enhance long-term value for shareholders. Overall, the results exceeded market expectations, reflecting a positive outlook for the company's future performance. The reported revenue growth and strategic expansion plans are likely to significantly impact future performance and investor sentiment.

28 Jul

3

Orion Properties Inc.'s Board of Directors has unanimously rejected a revised acquisition proposal from Kawa Capital Management, which offered $2.75 per share. The Board determined that the proposal significantly undervalues the company and is not in the best interests of its stockholders. This decision follows a review process with independent financial and legal advisors. The Board remains open to evaluating other proposals that appropriately value the company. Orion Properties is a real estate investment trust focused on a diversified portfolio of office properties across the U.S. The rejection of the acquisition proposal indicates ongoing strategic considerations that may influence investor sentiment and the company's market positioning.

17 Jul

4

Orion Properties Inc. confirmed receipt of a revised unsolicited, non-binding indication of interest from Kawa Capital Management to acquire all outstanding shares not owned by Kawa for $2.75 per share, up from a previous offer of $2.50 per share that was rejected. The Orion Board of Directors will review this new proposal in consultation with legal and financial advisors. Orion shareholders are advised to take no action at this time. A potential acquisition at a higher price could significantly impact Orion's market position and investor sentiment.

9 Jul

3

Orion Office REIT Inc.'s Board of Directors has unanimously rejected an unsolicited proposal from Kawa Capital Management, stating that the offer undervalues the company and does not align with its strategic goals. The board emphasized its commitment to maximizing shareholder value and will continue to pursue its existing business plan. The rejection of the proposal may influence market sentiment and investor confidence but is not expected to fundamentally alter the company's trajectory.

20 Jun

4

Orion Properties Inc. confirmed receipt of an unsolicited, non-binding indication of interest from Kawa Capital Management to acquire all outstanding shares not owned by Kawa for $2.50 per share. Kawa currently owns approximately 9.7% of Orion's shares. The Board of Directors will review the proposal with its advisors to determine the best course of action for the company and its shareholders. Orion will not comment further until the review is complete, and shareholders do not need to take any action at this time. The unsolicited acquisition proposal could significantly influence Orion's strategic direction and investor sentiment.

10 Apr

4

Orion Properties Inc. announced 2025 highlights, including 425,000 square feet of leasing and the sale of three vacant properties for $19.1 million. The company maintains strong liquidity of approximately $243.9 million. A new 15.7-year lease was signed for 46,000 square feet in Parsippany, New Jersey, and a 10.0-year lease for 160,000 square feet in Buffalo, New York. Orion will release its first quarter 2025 results on May 7, 2025, and host a webcast on May 8, 2025. The leasing momentum and property sales indicate a significant strategic shift that could enhance future performance.

stockrow.com/ONL · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com