UMH PROPERTIES, INC. (UMH) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues [+]	195.8	186.1	163.6	146.6	129.6	112.6	99.2	81.5
Homebuilding								6.8
Lease / rental					113.8	101.8	90.7	74.8
Net interest income	-26.4	-19.2	-18.3	-17.8	-16.0	-15.9	-15.4	-14.1
Revenue growth	5.2%	13.8%	11.6%	13.1%	15.0%	13.5%	21.7%	14.1%
Cost of goods sold [+]	75.7	68.0	63.2	61.7	64.7	56.3	49.1	42.1
Homebuilding costs								5.1
Other direct costs					52.9	47.8	42.6	37.0
Gross profit	120.1	118.1	100.4	84.9	64.9	56.3	50.1	39.4
Gross margin	61.4%	63.4%	61.4%	57.9%	50.1%	50.0%	50.5%	48.3%
Selling, general and administrative [+]	28.0	21.5	16.0	15.1	14.7	12.7	10.9	10.1
Sales and marketing	5.3	4.8	4.9	5.1	3.8	3.1	2.9	2.8
General and administrative [+]	22.7	16.7	11.1	10.0	10.9	9.6	8.0	7.3
Wages and related expenses	3.7	2.6
General and administrative expenses	19.0	14.1	11.1	10.0	10.9	9.6	8.0	7.3
Other operating expenses	60.7	12.8	50.0	18.6	41.1	-9.6	17.0	16.1
EBITDA [+]	31.5	83.8	34.5	51.2	9.2	53.2	45.5	32.0
EBITDA growth	-62.4%	142.9%	-32.7%	455.9%	-82.7%	16.9%	42.1%	101.2%
EBITDA margin	16.1%	45.0%	21.1%	34.9%	7.1%	47.2%	45.9%	39.3%
Depreciation and amortization	48.8	45.1	41.7	36.8	31.7	27.6	23.2	18.9
EBIT [+]	-17.3	38.6	-7.2	14.4	-22.5	25.7	22.3	13.1
EBIT growth	-144.7%	-634.7%	-150.2%	-164.0%	-187.6%	15.1%	69.7%	1649.9%
EBIT margin	-8.8%	20.8%	-4.4%	9.8%	-17.3%	22.8%	22.5%	16.1%
Non-recurring items							0.1	1.0
Interest expense, net [+]	-4.1	-3.4	-2.9	-2.6	14.1	13.7	13.5	10.7
Interest expense					16.4	15.7	15.1	12.5
Interest income	4.1	3.4	2.9	2.6	2.3	2.0	1.6	1.8
Other income (expense), net [+]	8.2	9.1	9.4	10.7	0.4	0.7	2.8	0.6
Unrealized gain (loss) on marketable securities	6.4	2.3			0.0	1.7
Realized gain (loss) on investments							2.3	0.2
Other non-operating income	1.2	0.6	0.7	0.6	0.4	0.7	0.5	0.4
Other	1.2	0.6	0.7	0.6	0.4	0.7	2.8	0.6
Pre-tax income	-5.0	51.1	5.1	27.8	-36.2	12.7	11.5	2.1
Income taxes	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Tax rate	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Minority interest	0.1
Earnings from continuing ops	-36.3	21.2	-29.8	2.6	-56.5	-7.7	-2.6	-6.1
Earnings from discontinued ops				0.0	0.0	0.0
Net income	-36.3	21.2	-29.8	2.6	-56.5	-7.7	-2.6	-6.1
Net margin	-18.5%	11.4%	-18.2%	1.8%	-43.6%	-6.8%	-2.6%	-7.5%

Basic EPS [+]	($0.67)	$0.46	($0.72)	$0.06	($1.53)	($0.24)	($0.09)	($0.24)
Growth	-245.3%	-163.8%	-1217.9%	-104.2%	552.4%	154.4%	-60.9%	60.0%
Diluted EPS [+]	($0.67)	$0.45	($0.72)	$0.06	($1.53)	($0.23)	($0.09)	($0.24)
Growth	-248.8%	-162.3%	-1226.2%	-104.2%	552.4%	154.2%	-60.9%	60.0%

Dividends per share [+]	$0.80	$0.76	$0.72	$0.72	$0.72	$0.72	$0.72	$0.72
Growth	5.3%	5.6%	0.0%	0.0%	0.0%	0.0%	0.0%	12.3%

Shares outstanding (basic) [+]	54.4	46.3	41.4	39.9	36.9	32.7	27.8	25.9
Growth	17.5%	11.8%	3.7%	8.2%	12.8%	17.5%	7.2%	15.3%
Shares outstanding (diluted) [+]	54.4	47.4	41.4	40.2	36.9	32.7	27.8	25.9
Growth	14.7%	14.6%	3.0%	9.0%	12.8%	17.6%	7.2%	15.3%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.