NASDAQ: MAYS
MAYS J W INCCIK 0000054187 · SIC 6512 · Operators of Apartment Buildings
J.W. Mays, Inc. (the “Company” or “Registrant”) with executive offices at Nine Bond Street, Brooklyn, New York 11201, owns and operates a number of commercial real estate properties, which are described in Item 2 “Properties”. The Company’s business was founded in 1924 and incorporated under the… About this business →
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Latest financial statements
From 10-K filed Oct 22, 2026 (period ending Jul 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations
| Description | Years ended July 31, 2026 | Years ended July 31, 2025 |
|---|---|---|
| Revenues | ||
| Rental income | 21,094,506 | 22,469,710 |
| Total revenues | 21,094,506 | 22,469,710 |
| Expenses | ||
| Real estate operating expenses | 16,107,979 | 15,655,276 |
| Administrative and general expenses | 4,963,853 | 5,168,751 |
| Depreciation | 1,899,239 | 1,800,015 |
| Total expenses | 22,971,071 | 22,624,042 |
| Loss from operations | (1,876,565) | (154,332) |
| Other income (expenses) | ||
| Dividend and interest income | 24,416 | 26,836 |
| Interest expense, net of capitalized interest | (122,387) | (67,744) |
| Total other income (expenses) | (97,971) | (40,908) |
| Loss before income tax | (1,974,536) | (195,240) |
| Income tax provision (benefit) | (575,000) | (59,000) |
| Net loss | (1,399,536) | (136,240) |
| Loss per common share, basic and diluted | (.69) | (.07) |
| Weighted average common shares outstanding, basic and diluted | 2,015,780 | 2,015,780 |
Consolidated Balance Sheets
| Description | July 31 2026 | July 31 2025 |
|---|---|---|
| Property and Equipment-at cost: | ||
| Land | 6,067,805 | 6,067,805 |
| Buildings held for leasing: | ||
| Buildings, improvements, and fixtures | 84,271,245 | 81,018,716 |
| Construction in progress | 6,239,707 | 3,270,919 |
| 90,510,952 | 84,289,635 | |
| Accumulated depreciation | (43,386,501) | (41,603,389) |
| Buildings net | 47,124,451 | 42,686,246 |
| Property and equipment-net | 53,192,256 | 48,754,051 |
| Cash and cash equivalents | 2,074,964 | 748,597 |
| Restricted cash | 1,031,031 | 1,010,148 |
| Receivables, net | 4,239,207 | 3,959,730 |
| Prepaids and other assets | 3,491,731 | 3,294,901 |
| Deferred charges, net | 3,740,194 | 3,517,817 |
| Operating lease right-of-use assets | 26,436,022 | 26,764,182 |
| TOTAL ASSETS | 94,205,405 | 88,049,426 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Liabilities: | ||
| Mortgages payable | 9,485,431 | 3,235,561 |
| Accounts payable and accrued expenses | 4,469,638 | 2,891,074 |
| Security deposits payable | 1,142,073 | 1,092,225 |
| Operating lease liabilities | 24,286,902 | 24,034,669 |
| Deferred income taxes | 3,459,000 | 4,034,000 |
| Total liabilities | 42,843,044 | 35,287,529 |
| Shareholders’ Equity: | ||
| Common stock, par value $1 each share (shares-5,000,000 authorized; 2,178,297 issued 2,015,780 outstanding) | 2,178,297 | 2,178,297 |
| Additional paid in capital | 3,346,245 | 3,346,245 |
| Retained earnings | 47,125,671 | 48,525,207 |
| 52,650,213 | 54,049,749 | |
| Common stock held in treasury, at cost 162,517 shares at July 31, 2026 and July 31, 2025 | (1,287,852) | (1,287,852) |
| Total Shareholders’ Equity | 51,362,361 | 52,761,897 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 94,205,405 | 88,049,426 |
Consolidated Statements of Cash Flows
| Description | Years ended July 31, 2026 | Years ended July 31, 2025 |
|---|---|---|
| Cash Flows From Operating Activities: | ||
| Net loss | (1,399,536) | (136,240) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Bad debt expense | 61,820 | 38,512 |
| Provision (benefit) for deferred income tax | (575,000) | (59,000) |
| Depreciation | 1,899,239 | 1,800,015 |
| Loss on fixed asset disposal | 167,700 | — |
| Amortization of deferred charges | 731,515 | 506,044 |
| Operating lease expense in excess of cash payments | 580,393 | 827,562 |
| Deferred finance costs included in interest expense | 9,798 | 16,519 |
| Changes in Operating Assets and Liabilities: | ||
| Receivables | (341,297) | (416,017) |
| Deferred costs | (953,892) | (443,276) |
| Prepaid expenses and other assets | (196,830) | (246,857) |
| Accounts payable and accrued expenses | 1,578,564 | 619,111 |
| Security deposits payable | 49,848 | 14,261 |
| Cash provided by operating activities | 1,612,322 | 2,520,634 |
| Cash Flows From Investing Activities: | ||
| Acquisition of property and equipment | (6,505,143) | (2,392,286) |
| Cash (used) in investing activities | (6,505,143) | (2,392,286) |
| Cash Flows From Financing Activities: | ||
| Proceeds mortgages | 9,786,549 | — |
| Payments mortgages | (3,271,477) | — |
| Payments financing costs | (275,001) | (655,204) |
| Cash provided (used) in financing activities | 6,240,071 | (655,204) |
| Increase (decrease) in cash, cash equivalents and restricted cash | 1,347,250 | (526,856) |
| Cash, cash equivalents and restricted cash at beginning of year | 1,758,745 | 2,285,601 |
| Cash, cash equivalents and restricted cash at end of year | 3,105,995 | 1,758,745 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About MAYS J W INC
Source: Item 1 (Business) from the 10-K filed October 22, 2026. Description as filed by the company with the SEC.
ITEM 1. BUSINESS.
J.W. Mays, Inc. (the “Company”
or “Registrant”) with executive offices at Nine Bond Street, Brooklyn, New York 11201, owns and operates a number of commercial
real estate properties, which are described in Item 2 “Properties”. The Company’s business was founded in 1924 and incorporated
under the laws of the State of New York on July 6, 1927.
In fiscal 2026, the Company
began evaluating strategic opportunities to potentially sell or divest one or more of its real estate properties to manage its liquidity
needs. The determination of whether a particular property should be sold or otherwise disposed of will be made after consideration of
relevant factors, including, but not limited to prevailing macro-economic and real estate market conditions, alternative investment opportunities,
tax implications and considerations specific to the condition, value, and financial performance of the property to be sold.
The Company has commenced
a process to actively market 25 Elm Place in Brooklyn, New York (“Elm Place”) for sale to unaffiliated third-party prospective
buyers. Throughout, the Company has continued to lease and operate Elm Place as usual and has engaged existing tenants regarding a review
of their current leases, which may include renewal, modification and/or relocation, subject to board approval. There can be no assurances
when the sale of Elm Place will take place or if a sale will take place at all. In addition, the Company entered into new secured loans
in fiscal 2026 with existing lenders with respect to the Fishkill, NY and Circleville, OH properties. See “2026 Annual Report to
Shareholders - Management Discussion & Analysis - Liquidity and Capital Resources.”
Read full description ↓
Human Capital
The Company has 26 full
time employees and has a contract, expiring November 30, 2028, with a union covering rates of pay, hours of employment and other conditions
of employment for approximately 19% of its employees. The Company considers that its labor relations with its employees and union are
good.
Available Information
We make our filings with
the U.S. Securities and Exchange Commission (“SEC”) including our annual report on Form 10-K, quarterly reports on Form 10-Q,
current reports on Form 8-K, and any amendments and exhibits to those reports filed or furnished pursuant to Section 13(a) or 15(d) of
the Securities Exchange Act of 1934, as amended (“Exchange Act”), available free of charge on or through our website at www.jwmays.com,
as soon as reasonably practicable after we electronically file such material with, or furnish it to, the SEC. The SEC maintains a website
that contains reports, proxy and information statements, and other information regarding our filings at http://www.sec.gov. The information
contained on the website referenced in this Form 10-K is not incorporated by reference into this filing. Further, the Company’s
references to website URLs are intended to be inactive textual references only.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
This Annual Report on Form
10-K may contain forward-looking statements which include assumptions about future market conditions, operations and financial results.
These statements are based on current expectations and are subject to risks and uncertainties. They are made pursuant to safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. The Company’s actual results, performance or achievements in the future
could differ significantly from the results, performance or achievements discussed or implied in such forward-looking statements herein
and in prior filings by the Company. The Company assumes no obligation to update these forward-looking statements or to advise of changes
in the assumptions on which they were based.
Factors that could cause
or contribute to such differences include, but are not limited to, changes in the competitive environment of the Company, general economic
and business conditions, industry trends, changes in government rules and regulations and environmental rules and regulations. Statements
concerning interest rates and other financial instrument fair values and their estimated contribution to the Company’s future results
of operations are based upon market information as of a specific date. This market information is often a function of significant judgment
and estimation. Further, market interest rates are subject to potentially significant volatility.