XRN · Chiron Real Estate Inc.

Chiron Real Estate Inc. is a net-lease medical REIT that acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems. Chiron Real Estate Inc. was established on March 18, 2011 and is based in Bethesda, United States.

Cap structure and valuation

Cap structure
SP	$34.32
SO	13.2M
Options	0.1M
Warrants	0.0M
FD SO	13.4M
MC	$458.9M

Cash	$8.2M
Total debt	$1.2M
EV	$451.9M

TTM Multiples
EV / Revenue	3.0x
EV / EBITDA	—
MC / Net Income	—
EV / FCF	40.3x
MC / FCF	40.9x

MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-05-05. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative.

Financial statements

	3/31/26	12/31/25	9/30/25	6/30/25
Total Revenue	38.06	38.39	37.23	37.97
Revenue YoY %	10.0%	9.2%	8.7%	10.9%

SG&A	5.09	5.49	4.86	6.03

Interest Expense	7.23	8.40	8.18	8.01
Pretax Income	1.65	(6.15)	(5.06)	0.58
Net Income	1.65	(6.15)	(5.06)	0.58
Net Margin %	4.3%	(16.0%)	(13.6%)	1.5%

Diluted EPS	-$0.06	-$0.56	-$0.45	-$0.01
Basic EPS	-$0.06	-$0.56	-$0.45	-$0.01
Diluted Avg Shares	13.2	-0.0	13.4	66.9
Basic Avg Shares	13.2	-0.0	13.4	66.9

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Total Revenue	151.65	148.21	138.78	141.05	137.28
Revenue YoY %	2.3%	6.8%	(1.6%)	2.7%	—

SG&A	21.47	20.00	21.12	16.85	16.55

Interest Expense	31.82	31.75	28.69	30.89	25.23
Pretax Income	(8.97)	(6.88)	6.69	21.73	20.00
Net Income	(8.97)	(6.88)	6.69	21.73	20.00
Net Income to Common	—	(6.88)	6.69	21.73	20.00
Net Margin %	(5.9%)	(4.6%)	4.8%	15.4%	14.6%

Diluted EPS	-$1.08	-$0.91	$0.01	$0.23	$0.20
Basic EPS	-$1.08	-$0.91	$0.01	$0.23	$0.20
Diluted Avg Shares	13.2	13.4	65.9	65.5	65.5
Basic Avg Shares	13.2	13.4	65.9	65.5	65.5

	3/31/26	12/31/25	9/30/25	6/30/25
Cash & Equivalents	8.18	9.08	7.12	6.58

Goodwill	5.90	5.90	5.90	5.90
Total Assets	1,238.02	1,242.46	1,273.24	1,296.96

Long-term Debt	—	1.15	1.15	14.16
Total Liabilities	717.37	712.40	767.41	771.94

Retained Earnings	(360.64)	(349.96)	(332.57)	(316.51)
Total Equity	520.65	530.07	505.83	525.02

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Cash & Equivalents	8.18	9.08	6.82	1.28	4.02

Goodwill	5.90	5.90	5.90	5.90	5.90
Total Assets	1,238.02	1,242.46	1,256.49	1,267.70	1,393.26

Long-term Debt	—	1.15	14.42	—	—
Total Liabilities	717.37	712.40	700.57	661.89	744.20

Retained Earnings	(360.64)	(349.96)	(293.74)	(238.98)	(198.71)
Total Equity	520.65	530.07	555.92	605.81	649.07

	3/31/26	12/31/25	9/30/25	6/30/25
Net Income	1.65	(6.15)	(5.06)	0.58
D&A	11.09	11.20	11.21	11.31
Stock-Based Comp	1.23	1.41	1.21	1.73
Operating Cash Flow	13.35	21.63	17.57	22.14

CapEx	(2.15)	—	—	—
Investing Cash Flow	(9.84)	6.75	(0.70)	(39.23)

Dividends Paid	(10.94)	(1.46)	(1.46)	(1.46)
Financing Cash Flow	(4.44)	(26.33)	(16.25)	18.72

Free Cash Flow	11.21	—	—	—

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Net Income	(8.97)	(6.88)	6.69	21.73	20.00
D&A	44.80	44.02	40.43	41.27	40.01
Stock-Based Comp	5.57	4.50	5.10	4.24	4.68
Operating Cash Flow	74.69	73.61	70.05	68.44	76.54

Investing Cash Flow	(43.02)	(60.40)	(45.94)	67.62	(137.25)

Stock Issuance	—	—	10.90	—	9.90
Stock Buyback	—	(6.00)	—	—	—
Dividends Paid	(15.31)	(5.82)	(5.82)	(5.82)	(5.82)
Financing Cash Flow	(28.30)	(10.26)	(21.89)	(143.79)	62.41

	3/31/26	12/31/25	9/30/25	6/30/25
Current Ratio	—	—	—	—
Quick Ratio	—	—	—	—
Debt / Equity	1.38	1.34	1.52	1.47
EBITDA Margin %	—	—	—	—
Working Capital	—	—	—	—
Net Debt	—	(7.93)	(5.97)	7.58
ROE %	0.3%	(1.2%)	(1.0%)	0.1%
ROA %	0.1%	(0.5%)	(0.4%)	0.0%

	LTM	12/31/25	12/31/24	12/31/23	12/31/22
Current Ratio	—	—	—	—	—
Quick Ratio	—	—	—	—	—
Debt / Equity	1.38	1.34	1.26	1.09	1.15
EBITDA Margin %	—	—	—	—	—
Working Capital	—	—	—	—	—
Net Debt	—	(7.93)	7.61	—	—
ROE %	(1.7%)	(1.3%)	1.2%	3.6%	3.1%
ROA %	(0.7%)	(0.6%)	0.5%	1.7%	1.4%

Insider activity (last 2 years)

Date Filed	Reporter	Relationship	Trans. Date	Code	Shares	Price	Total Value
2026-05-13	Wittman Lori	Director	2026-05-12	P	2,940	$33.85	$99,515
2026-05-13	Marston Ronald	Director	2026-05-12	P	189	$34.05	$6,435
2026-05-13	Marston Ronald	Director	2026-05-12	P	1,011	$34.06	$34,434
2026-05-13	Marston Ronald	Director	2026-05-12	P	300	$34.14	$10,242
2026-05-13	Barber Jamie Allen	Officer (General Counsel and Secretary)	2026-05-12	P	1,481	$33.50	$49,614
2026-05-12	Holley Danica	Officer (COO)	2026-05-12	P	1,490	$33.99	$50,645
2026-05-12	Decker Mark Okey Jr	Director, Officer (CEO and President)	2026-05-12	P	1,000	$33.74	$33,740
2026-05-12	Decker Mark Okey Jr	Director, Officer (CEO and President)	2026-05-12	P	4,000	$33.99	$135,960
2026-05-12	KIERNAN ROBERT J	Officer (CFO and Treasurer)	2026-05-11	P	3,000	$33.49	$100,470
2026-05-11	Crowley Paula	Director	2026-05-11	P	1,000	$34.00	$34,000
2026-05-11	Cole Henry	Director	2026-05-11	P	8	$33.35	$267
2026-05-11	Cole Henry	Director	2026-05-11	P	575	$34.31	$19,731
2026-02-25	Barber Jamie Allen	Officer (General Counsel and Secretary)	2026-02-24	A	5,539	—	$0
2026-02-25	Barber Jamie Allen	Officer (General Counsel and Secretary)	2026-02-24	A	2,025	—	$0
2026-02-25	KIERNAN ROBERT J	Officer (CFO and Treasurer)	2026-02-24	A	10,385	—	$0
2026-02-25	KIERNAN ROBERT J	Officer (CFO and Treasurer)	2026-02-24	A	3,492	—	$0
2026-02-25	Holley Danica	Officer (COO)	2026-02-24	A	5,816	—	$0
2026-02-25	Holley Danica	Officer (COO)	2026-02-24	A	2,270	—	$0
2026-02-25	Leon Alfonzo	Officer (CIO)	2026-02-24	A	10,385	—	$0
2026-02-25	Leon Alfonzo	Officer (CIO)	2026-02-24	A	3,273	—	$0
2026-02-25	Decker Mark Okey Jr	Director, Officer (CEO and President)	2026-02-24	A	16,616	—	$0
2026-02-25	Decker Mark Okey Jr	Director, Officer (CEO and President)	2026-02-24	A	4,702	—	$0
2025-12-08	Decker Mark Okey Jr	Director, Officer (CEO and President)	2025-12-05	P	10,000	$32.51	$325,100
2025-11-17	KIERNAN ROBERT J	Officer (CFO and Treasurer)	2025-11-14	P	3,000	$31.91	$95,730
2025-11-17	Decker Mark Okey Jr	Director, Officer (CEO and President)	2025-11-14	P	4,093	$32.41	$132,654
2025-11-17	Decker Mark Okey Jr	Director, Officer (CEO and President)	2025-11-14	P	5,907	$32.70	$193,159
2025-08-26	Cypher Matthew	Director	2025-08-26	P	1,350	$7.38	$9,960
2025-08-18	Barber Jamie Allen	Officer (General Counsel and Secretary)	2025-08-15	S	(130,000)	$6.62	-$861,068
2025-08-18	Decker Mark Okey Jr	Director, Officer (CEO and President)	2025-08-15	P	13,871	$6.84	$94,878
2025-08-18	Decker Mark Okey Jr	Director, Officer (CEO and President)	2025-08-15	P	17,023	$6.87	$116,948
2025-08-08	Barber Jamie Allen	Officer (General Counsel and Secretary)	2025-08-07	M	130,000	—	$0
2025-08-08	Barber Jamie Allen	Officer (General Counsel and Secretary)	2025-08-07	M	(130,000)	—	$-0
2025-08-08	Barber Jamie Allen	Officer (General Counsel and Secretary)	2025-08-07	M	130,000	—	$0
2025-08-08	Barber Jamie Allen	Officer (General Counsel and Secretary)	2025-08-07	M	(130,000)	—	$-0
2025-06-25	Decker Mark Okey Jr	Director, Officer (CEO and President)	2025-06-25	P	30,757	$6.47	$198,862
2025-06-25	Decker Mark Okey Jr	Director, Officer (CEO and President)	2025-06-25	P	8,072	$6.56	$52,981
2025-06-25	Decker Mark Okey Jr	Director, Officer (CEO and President)	2025-06-25	P	18,503	$6.54	$120,991
2025-06-25	Decker Mark Okey Jr	Director, Officer (CEO and President)	2025-06-24	P	100,000	$6.53	$652,700
2025-06-25	Decker Mark Okey Jr	Director, Officer (CEO and President)	2025-06-24	P	2,668	$6.37	$16,994
2025-06-25	Decker Mark Okey Jr	Director, Officer (CEO and President)	2025-06-23	A	158,730	—	$0
2025-05-15	Wittman Lori	Director	2025-05-14	A	11,518	—	$0
2025-05-15	Marston Ronald	Director	2025-05-14	A	11,518	—	$0
2025-05-15	Cypher Matthew	Director	2025-05-14	A	11,518	—	$0
2025-05-15	Crowley Paula	Director	2025-05-14	A	11,518	—	$0
2025-05-15	Cole Henry	Director	2025-05-14	A	11,518	—	$0
2025-02-27	Barber Jamie Allen	Officer (General Counsel and Secretary)	2025-02-26	A	24,570	—	$0
2025-02-27	Barber Jamie Allen	Officer (General Counsel and Secretary)	2025-02-26	A	7,826	—	$0
2025-02-27	Holley Danica	Officer (Chief Operating Officer)	2025-02-26	A	25,799	—	$0
2025-02-27	Holley Danica	Officer (Chief Operating Officer)	2025-02-26	A	8,770	—	$0
2025-02-27	Leon Alfonzo	Officer (Chief Investment Officer)	2025-02-26	A	46,069	—	$0
2025-02-27	Leon Alfonzo	Officer (Chief Investment Officer)	2025-02-26	A	12,650	—	$0
2025-02-27	KIERNAN ROBERT J	Officer (CFO and Treasurer)	2025-02-26	A	46,069	—	$0
2025-02-27	KIERNAN ROBERT J	Officer (CFO and Treasurer)	2025-02-26	A	13,493	—	$0
2025-02-27	Busch Jeffrey	Director, Officer (Chairman, President and CEO)	2025-02-26	A	23,613	—	$0
2024-05-16	Marston Ronald	Director	2024-05-15	A	9,316	—	$0
2024-05-16	Crowley Paula	Director	2024-05-15	A	9,316	—	$0
2024-05-16	Wittman Lori	Director	2024-05-15	A	9,316	—	$0
2024-05-16	Cypher Matthew	Director	2024-05-15	A	9,316	—	$0
2024-05-16	Cole Henry	Director	2024-05-15	A	9,316	—	$0