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, 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… About this business →
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Latest financial statements
From 10-Q filed Jun 11, 2026 (period ending Apr 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations (Unaudited)
| Description | Three months ended April 30 2026 | Three months ended April 30 2025 | Nine months ended April 30 2026 | Nine months ended April 30 2025 |
|---|---|---|---|---|
| Revenues | ||||
| Rental income | 5,314,751 | 5,632,151 | 15,777,647 | 16,814,724 |
| Total revenues | 5,314,751 | 5,632,151 | 15,777,647 | 16,814,724 |
| Expenses | ||||
| Real estate operating expenses | 3,999,990 | 3,822,276 | 12,204,787 | 11,700,830 |
| Administrative and general expenses | 1,164,625 | 1,239,480 | 3,680,364 | 3,784,108 |
| Depreciation | 471,707 | 457,285 | 1,414,646 | 1,346,625 |
| Total expenses | 5,636,322 | 5,519,041 | 17,299,797 | 16,831,563 |
| Income/(Loss) from operations | (321,571) | 113,110 | (1,522,150) | (16,839) |
| Other income (expenses): | ||||
| Dividend and interest income | 5,930 | 7,979 | 18,300 | 16,406 |
| Interest expense, net of capitalized interest | 6,778 | (11,305) | – | (60,807) |
| Total other income (expenses) | 12,708 | (3,326) | 18,300 | (44,401) |
| Income/(Loss) before income taxes | (308,863) | 109,784 | (1,503,850) | (61,240) |
| Income taxes provision (benefit) | (92,000) | 23,000 | (444,000) | (17,000) |
| Net income/(loss) | (216,863) | 86,784 | (1,059,850) | (44,240) |
| Income/(Loss) per common share, basic and diluted | (.11) | .04 | (.53) | (.02) |
| Dividends per share | – | – | – | – |
| Average common shares outstanding, basic and diluted | 2,015,780 | 2,015,780 | 2,015,780 | 2,015,780 |
Consolidated Balance Sheets (Unaudited)
| Description | April 30 2026 | July 31 2025 |
|---|---|---|
| ASSETS | ||
| Property and Equipment-at cost: | ||
| Land | 6,067,805 | 6,067,805 |
| Buildings held for leasing: | ||
| Buildings, improvements, and fixtures | 83,236,067 | 81,018,716 |
| Construction in progress | 4,915,132 | 3,270,919 |
| 88,151,199 | 84,289,635 | |
| Accumulated depreciation | (42,901,908) | (41,603,389) |
| Buildings net | 45,249,291 | 42,686,246 |
| Property and equipment-net | 51,317,096 | 48,754,051 |
| Cash and cash equivalents | 2,110,713 | 748,597 |
| Restricted cash | 1,030,852 | 1,010,148 |
| Receivables, net | 3,947,460 | 3,959,730 |
| Prepaids and other assets | 1,718,405 | 3,294,901 |
| Deferred charges, net | 3,179,342 | 3,517,817 |
| Operating lease right-of-use assets | 26,917,308 | 26,764,182 |
| TOTAL ASSETS | 90,221,176 | 88,049,426 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Liabilities: | ||
| Mortgages payable | 6,131,664 | 3,235,561 |
| Accounts payable and accrued expenses | 3,004,924 | 2,891,074 |
| Security deposits payable | 1,148,929 | 1,092,225 |
| Operating lease liabilities | 24,643,612 | 24,034,669 |
| Deferred income taxes | 3,590,000 | 4,034,000 |
| Total Liabilities | 38,519,129 | 35,287,529 |
| Shareholders’ Equity: | ||
| Common stock, par value $1 each share (shares-5,000,000 authorized; 2,178,297 issued and 2,015,780 outstanding) | 2,178,297 | 2,178,297 |
| Additional paid in capital | 3,346,245 | 3,346,245 |
| Retained earnings | 47,465,357 | 48,525,207 |
| 52,989,899 | 54,049,749 | |
| Common stock held in treasury, at cost 162,517 shares at April 30, 2026 and July 31, 2025 | (1,287,852) | (1,287,852) |
| Total shareholders’ equity | 51,702,047 | 52,761,897 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 90,221,176 | 88,049,426 |
Consolidated Statements of Cash Flows (Unaudited)
| Description | Nine months ended April 30 2026 | Nine months ended April 30 2025 |
|---|---|---|
| Cash Flows From Operating Activities: | ||
| Net loss | (1,059,850) | (44,240) |
| Adjustments to reconcile net (loss) to net cash provided by operating activities: | ||
| Bad debt expense | 15,073 | 6,289 |
| Provision (benefit) for deferred income taxes | (444,000) | (17,000) |
| Depreciation | 1,414,646 | 1,346,625 |
| Loss on fixed asset disposal | 167,700 | – |
| Amortization of deferred charges | 542,311 | 377,443 |
| Operating lease expense in excess of cash payments | 455,818 | 622,991 |
| Deferred finance costs included in interest expense | 1,165 | 16,519 |
| Changes in Operating Assets and Liabilities: | ||
| Receivables | (2,803) | 29,757 |
| Deferred costs | (203,836) | (277,252) |
| Prepaid expenses and other assets | 1,576,496 | 1,347,557 |
| Accounts payable and accrued expenses | 113,850 | (68,172) |
| Security deposits payable | 56,704 | 7,334 |
| Cash provided by operating activities | 2,633,274 | 3,347,851 |
| Cash Flows From Investing Activities: | ||
| Acquisition of property and equipment | (4,145,391) | (1,723,076) |
| Cash (used) in investing activities | (4,145,391) | (1,723,076) |
| Cash Flows From Financing Activities: | ||
| Proceeds mortgage | 6,200,000 | – |
| Payments mortgage financing cost | (69,501) | – |
| Payments mortgages | (3,235,562) | (615,073) |
| Cash provided (used) in financing activities | 2,894,937 | (615,073) |
| Increase in cash, cash equivalents and restricted cash | 1,382,820 | 1,009,702 |
| Cash, cash equivalents and restricted cash at beginning of period | 1,758,745 | 2,285,601 |
| Cash, cash equivalents and restricted cash at end of period | 3,141,565 | 3,295,303 |
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 23, 2025. 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, 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.
The Company has 28 full
time employees and has a contract, expiring November 30, 2025, with a union covering rates of pay, hours of employment and other conditions
of employment for approximately 21% of its employees. The Company considers that its labor relations with its employees and union are
good.
Executive Officers of the Registrant
The following information
is furnished with respect to each executive officer of the Registrant (each of whose position is reviewed annually but each of whom has
a three-year employment agreement, effective August 1, 2011 and renewed every three years thereafter through 2023: expiring July 31, 2026.
Name
Age
Business Experience During
the Past Five Years
First Became
Such Officer
or Director
Lloyd J. Shulman
83
President
November, 1978
Chairman
of the Board and Chief Executive Officer
November, 1996
Ward N. Lyke, Jr.
74
Vice President
February, 1984
Chief Financial Officer and Treasurer
January, 2024
George Silva
75
Vice President-Operations
March, 1995
All of the above mentioned
officers have been appointed as such by the directors and have been employed as executive officers of the Company during the past five
years.
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Our website is https://www.jwmays.com.
Information found on our website is not incorporated by reference into this annual report on Form 10-K. 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, 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.
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 potential significant volatility.