Alexander & Baldwin, Inc.(ALEX)Earnings, Financials & Key Ratios

ALEX•NYSE•REIT / Real Estate

$20.84

$1.52B mkt cap·23.4× P/E·Price updated Apr 24, 2026

SectorReal Estate IndustryDiversified REITs Sub-IndustryRetail-Oriented Diversified REITs

AboutAlexander & Baldwin, Inc. (A&B) is Hawai'i's premier commercial real estate company and the largest owner of grocery-anchored, neighborhood shopping centers in the state. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, ten industrial assets and four office properties, as well as 154 acres of ground leases. These core assets comprise nearly 72% of A&B's total assets. A&B's non-core assets include renewable energy generation facilities, approximately 27,000 acres of agricultural and conservation land and a vertically integrated paving business. A&B is achieving its strategic objective of becoming a Hawai'i-focused commercial real estate company by expanding and strengthening its Hawai'i CRE portfolio and monetizing non-core assets. Over its 150-year history, A&B has evolved with the state's economy and played a leadership role in the development of the agricultural, transportation, tourism, construction, residential and commercial real estate industries.Show more

Revenue$207M-12.7%
FFO$103M+6.4%
FFO/Share1.41+5.9%
FFO Payout63.79%-4.9%
FFO per Share1.41+5.9%
NOI Margin46.5%+2.2%
FFO Margin49.84%+21.8%
ROE6.5%+7.7%
ROA3.88%+6.4%
Debt/Assets30.49%+7.2%
Net Debt/EBITDA5.74+50.8%
Book Value/Share13.51-2.0%

Technical→

ALEX Key Insights

Alexander & Baldwin, Inc. (ALEX) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Strong 5Y profit CAGR of 63.1%
✓FFO growing 6.4% TTM
✓Sustainable FFO payout ratio of 63.8%
✓Healthy dividend yield of 4.3%
✓Trading near 52-week high

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

ALEX Price & Volume

Alexander & Baldwin, Inc. (ALEX) stock price & volume — 10-year historical chart

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ALEX Growth Metrics

Alexander & Baldwin, Inc. (ALEX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-7.94%

5 Years1.66%

3 Years-3.58%

TTM-12.66%

Profit CAGR

10 Years8.13%

5 Years63.12%

3 Years-

TTM6.83%

EPS CAGR

10 Years5.12%

5 Years62.98%

3 Years-

TTM4.98%

Return on Capital

10 Years4.26%

5 Years5.3%

3 Years4.78%

Last Year4.5%

ALEX Recent Earnings

Alexander & Baldwin, Inc. (ALEX) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 5/12 qtrs (42%)●Beat Revenue 9/12 qtrs (75%)

Q2 2026Latest

Mar 19, 2026

EPS

$0.30

Est $0.13

+130.8%

Revenue

$51M

Est $49M

+3.6%

Q2 2026

Mar 12, 2026

EPS

$0.05

Est $0.13

-60.1%

Revenue

$51M

Est $49M

+3.6%

Q4 2025

Oct 30, 2025

EPS

$0.20

Est $0.28

-28.6%

Revenue

$50M

Est $50M

+0.5%

Q3 2025

Jul 24, 2025

EPS

$0.35

Est $0.39

-10.3%

Revenue

$52M

Est $51M

+0.5%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Mar 19, 2026	$0.30vs $0.13+130.8%	$51Mvs $49M+3.6%
Q2 2026	Mar 12, 2026	$0.05vs $0.13-60.1%	$51Mvs $49M+3.6%
Q4 2025	Oct 30, 2025	$0.20vs $0.28-28.6%	$50Mvs $50M+0.5%
Q3 2025	Jul 24, 2025	$0.35vs $0.39-10.3%	$52Mvs $51M+0.5%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
UEUrban Edge PropertiesDirect Competitor	2.78B	22.05	29.80	6.06%	22.2%	7.8%	1.21
WHLRWheeler Real Estate Investment Trust, Inc.Direct Competitor	127.21M	1.19	-0.03	-4.02%	11.86%	12.47%	5.11
NXRTNexPoint Residential Trust, Inc.Direct Competitor	757.54M	29.85	-23.69	-3.24%	-12.67%	-10.13%	5.18
PECOPhillips Edison & Company, Inc.Direct Competitor	5.07B	40.28	45.26	10.72%	15.61%	4.46%	0.96
KIMKimco Realty CorporationProduct Competitor	16.05B	23.80	28.67	5.06%	28.51%	5.81%	0.82
REGRegency Centers CorporationProduct Competitor	14.48B	79.08	28.04	3.39%	37.4%	9%	0.83
BRXBrixmor Property Group Inc.Product Competitor	9.29B	30.29	24.23	6.73%	31.99%	14.85%	1.95
SITCSITE Centers Corp.Product Competitor	294.84M	5.62	1.66	-62.67%	72.14%	12.2%

Compare ALEX vs Peers

Alexander & Baldwin, Inc. (ALEX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs UE

Most directly comparable listed peer for ALEX.

Scale Benchmark

vs CBRE

Larger-name benchmark to compare ALEX against a more recognizable public peer.

Peer Set

Compare Top 5

vs UE, WHLR, NXRT, PECO

ALEX Income Statement

Alexander & Baldwin, Inc. (ALEX) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Revenue	425.5M	644.4M	435.2M	190.3M	254M	230.55M	208.84M	236.64M	206.67M
Revenue Growth %	9.81%	51.45%	-32.46%	-56.27%	33.47%	-9.23%	-9.42%	13.31%	-12.66%
Property Operating Expenses	302M	382.4M	340.9M	126.2M	134.9M	132.92M	106.53M	129M	110.57M
Net Operating Income (NOI)	123.5M▲ 0%	262M▲ 112.1%	94.3M▼ 64.0%	64.1M▼ 32.0%	119.1M▲ 85.8%	97.63M▼ 18.0%	102.31M▲ 4.8%	107.65M▲ 5.2%	96.11M▼ 10.7%
NOI Margin %	29.02%	40.66%	21.67%	33.68%	46.89%	42.35%	48.99%	45.49%	46.5%
Operating Expenses	94.7M	89.2M	108.6M	21.7M	33.7M	-18.09M	37.68M	27.88M	28.13M
G&A Expenses	70.2M	61.2M	62M	33.7M	36.6M	35.87M	34.5M	29.82M	0
EBITDA	412.4M	215.6M	36.2M	84.9M	125M	153.74M	101.4M	116.08M	86.24M
EBITDA Margin %	96.92%	33.46%	8.32%	44.61%	49.21%	66.68%	48.55%	49.05%	41.73%
Depreciation & Amortization	383.6M	42.8M	50.5M	42.5M	39.6M	38.02M	36.8M	36.31M	0
D&A / Revenue %	90.15%	6.64%	11.6%	22.33%	15.59%	16.49%	17.62%	15.34%	0%
Operating Income	28.8M▲ 0%	172.8M▲ 500.0%	-14.3M▼ 108.3%	42.4M▲ 396.5%	85.4M▲ 101.4%	115.72M▲ 35.5%	64.6M▼ 44.2%	79.77M▲ 23.5%	67.98M▼ 14.8%
Operating Margin %	6.77%	26.82%	-3.29%	22.28%	33.62%	50.19%	30.93%	33.71%	32.89%
Interest Expense	25.6M	35.3M	33.1M	30.3M	26.3M	21.99M	23M	25.52M	21.73M
Interest Coverage	1.13x	4.90x	-0.43x	1.40x	3.25x	5.26x	2.81x	3.13x	3.13x
Non-Operating Income	-6.7M	190.4M	-8.5M	-6.7M	-16.2M	74.92M	821K	-9.93M	-18.26M
Pretax Income	9.9M▲ 0%	-52.9M▼ 634.3%	-38.9M▲ 26.5%	18.9M▲ 148.6%	75.4M▲ 298.9%	18.81M▼ 75.1%	40.84M▲ 117.1%	64.18M▲ 57.1%	64.52M▲ 0.5%
Pretax Margin %	2.33%	-8.21%	-8.94%	9.93%	29.69%	8.16%	19.56%	27.12%	31.22%
Income Tax	-218.2M	16.3M	-2M	-400K	0	-18.25M	35K	174K	-69K
Effective Tax Rate %	-2204.04%	-30.81%	5.14%	-2.12%	0%	-97.02%	0.09%	0.27%	-0.11%
Net Income	228.3M▲ 0%	-69.2M▼ 130.3%	-36.4M▲ 47.4%	5.6M▲ 115.4%	35.4M▲ 532.1%	-50.66M▼ 243.1%	29.8M▲ 158.8%	60.54M▲ 103.1%	64.67M▲ 6.8%
Net Margin %	53.65%	-10.74%	-8.36%	2.94%	13.94%	-21.97%	14.27%	25.58%	31.29%
Net Income Growth %	2338.24%	-130.31%	47.4%	115.38%	532.14%	-243.1%	158.83%	103.14%	6.83%
Funds From Operations (FFO)	611.9M▲ 0%	-26.4M▼ 104.3%	14.1M▲ 153.4%	48.1M▲ 241.1%	75M▲ 55.9%	-12.63M▼ 116.8%	66.6M▲ 627.1%	96.85M▲ 45.4%	103.01M▲ 6.4%
FFO Margin %	143.81%	-4.1%	3.24%	25.28%	29.53%	-5.48%	31.89%	40.93%	49.84%
FFO Growth %	91.34%	-104.31%	153.41%	241.13%	55.93%	-116.85%	627.11%	45.42%	6.36%
FFO per Share	11.55	-0.37	0.20	0.66	1.03	-0.17	0.91	1.33	1.41
FFO Payout Ratio %	1.68%	-593.18%	354.61%	28.69%	62.13%	-456.67%	96.55%	67.09%	63.79%
EPS (Diluted)	4.34▲ 0%	-0.98▼ 122.6%	-0.51▲ 48.0%	0.08▲ 115.2%	0.48▲ 520.2%	-0.70▼ 245.8%	0.41▲ 158.6%	0.83▲ 102.4%	0.89▲ 7.2%
EPS Growth %	2166.67%	-122.58%	47.96%	115.18%	520.15%	-245.83%	158.57%	102.44%	7.23%
EPS (Basic)	4.68	-0.98	-0.51	0.08	0.48	-0.70	0.41	0.83	0.89
Diluted Shares Outstanding	53M	70.6M	72.2M	72.4M	72.6M	72.6M	72.8M	72.75M	73.05M

ALEX Balance Sheet

Alexander & Baldwin, Inc. (ALEX) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Total Assets	2.23B	2.23B	2.08B	2.04B	1.88B	1.79B	1.65B	1.67B	1.66B
Asset Growth %	3.47%	-0.27%	-6.33%	-2.32%	-7.67%	-4.92%	-7.89%	1.47%	-0.65%
Real Estate & Other Assets	254.1M	70M	1.49B	1.47B	1.55B	1.55B	1.54B	1.57B	1.47B
PP&E (Net)	1.15B	1.32B	146.2M	129.4M	24.9M	5.4M	1.7M	0	15.07M
Investment Securities	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Current Assets	309.1M	404.2M	222.6M	229.1M	234.9M	174.1M	55.87M	54.06M	100.57M
Cash & Equivalents	68.9M	11.4M	15.2M	57.2M	65.4M	33.3M	13.52M	33.44M	11.3M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	101.7M	223.5M	200K	200K	32.8M	127.8M	14.22M	236K	8.51M
Intangible Assets	46.9M	59.8M	74.9M	61.9M	51.6M	43.6M	36.3M	31.18M	25.68M
Total Liabilities	1.58B	1.02B	955.6M	939.9M	813.2M	751.6M	643.23M	666.89M	672.34M
Total Debt	631.2M	778.1M	726.2M	705.5M	537.3M	477.1M	465.06M	474.84M	505.93M
Net Debt	562.3M	766.7M	711M	648.3M	471.9M	443.8M	451.55M	441.4M	494.63M
Long-Term Debt	585.2M	778.6M	704.6M	687.1M	505.8M	447.2M	438.96M	449.84M	491.58M
Short-Term Borrowings	46M	39M	0	0	25M	25M	25M	25M	0
Capital Lease Obligations	0	0	21.6M	18.4M	6.5M	4.9M	1.1M	0	14.35M
Total Current Liabilities	926.8M	129.4M	128.7M	126.3M	237.7M	281.4M	194.29M	209.47M	99.41M
Accounts Payable	43.3M	34.2M	17.8M	9.8M	3.4M	4.5M	5.84M	4.53M	12.42M
Deferred Revenue	6.6M	5.9M	7.9M	66.9M	68.3M	68.8M	70.35M	72.46M	12.36M
Other Liabilities	68.1M	108.9M	33.1M	41.2M	-5.3M	18.1M	8.87M	7.58M	67M
Total Equity	651.1M▲ 0%	1.21B▲ 85.6%	1.13B▼ 6.6%	1.1B▼ 2.9%	1.07B▼ 2.7%	1.04B▼ 2.9%	1B▼ 3.2%	1B▲ 0.1%	987.2M▼ 1.6%
Equity Growth %	-46.33%	85.58%	-6.59%	-2.89%	-2.69%	-2.9%	-3.16%	0.05%	-1.63%
Shareholders Equity	646.4M	1.2B	1.13B	1.1B	1.07B	1.04B	1B	1B	987.2M
Minority Interest	4.7M	5.7M	3.6M	0	0	0	0	0	0
Common Stock	1.16B	1.79B	1.8B	1.81B	1.81B	1.81B	1.81B	1.81B	1.81B
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0
Retained Earnings	-473M	-538.9M	-626.2M	-649.4M	-663.2M	-774.5M	-809.33M	-814.17M	-825.43M
Preferred Stock	0	0	0	0	0	0	0	0	0
Return on Assets (ROA)	10.41%	-3.11%	-1.69%	0.27%	1.81%	-2.76%	1.74%	3.65%	3.88%
Return on Equity (ROE)	24.49%	-7.44%	-3.12%	0.5%	3.27%	-4.82%	2.92%	6.03%	6.5%
Debt / Assets	28.29%	34.97%	34.84%	34.65%	28.58%	26.69%	28.25%	28.43%	30.49%
Debt / Equity	0.97x	0.64x	0.64x	0.64x	0.50x	0.46x	0.46x	0.47x	0.51x
Net Debt / EBITDA	1.36x	3.56x	19.64x	7.64x	3.78x	2.89x	4.45x	3.80x	5.74x
Book Value per Share	12.28	17.11	15.63	15.14	14.69	14.27	13.78	13.79	13.51

ALEX Cash Flow Statement

Alexander & Baldwin, Inc. (ALEX) cash flow — operating, investing & free cash flow history

Line item	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	-1.3M	309.9M	157.6M	63.1M	124.2M	34M	67.1M	97.99M	79.51M
Operating CF Growth %	-101.17%	23938.46%	-49.14%	-59.96%	96.83%	-72.62%	97.35%	46.04%	-18.86%
Operating CF / Revenue %	-0.31%	48.09%	36.21%	33.16%	48.9%	14.75%	32.13%	41.41%	38.47%
Net Income	230.5M	-69.8M	-38.4M	5.2M	35.8M	-49.5M	33M	60.54M	64.67M
Depreciation & Amortization	41.4M	42.8M	50.5M	42.5M	39.6M	38M	36.8M	36.31M	38.34M
Stock-Based Compensation	4.4M	4.7M	5.4M	5.8M	5.9M	4.9M	6.1M	4.79M	5.91M
Other Non-Cash Items	-28M	200.3M	-8.3M	7.3M	33.8M	80.4M	4M	-8.08M	-23.16M
Working Capital Changes	-50.6M	115.3M	102.7M	2.3M	9.1M	-21.7M	-12.8M	4.43M	-6.25M
Cash from Investing	-3.9M	-104.7M	-240.4M	12M	96.5M	44.6M	7.1M	-16.11M	-45.51M
Acquisitions (Net)	-8.6M	-22.6M	-3.3M	-1M	-18.1M	-500K	-9.5M	-306K	-208K
Purchase of Investments	-41.9M	-22.6M	-3.3M	0	0	-500K	0	0	0
Sale of Investments	1000K	1000K	1000K	0	0	1000K	0	0	0
Other Investing	55.8M	214M	16.9M	33.6M	144.9M	-5.9M	38.3M	34.97M	6.93M
Cash from Financing	96.1M	-73.5M	-136.7M	-33.1M	-207.1M	-115.2M	-94.9M	-61.96M	-56.14M
Dividends Paid	-10.3M	-156.6M	-50M	-13.8M	-46.6M	-57.7M	-64.3M	-64.98M	-65.71M
Common Dividends	-10.3M	-156.6M	-50M	-13.8M	-46.6M	-57.7M	-64.3M	-64.98M	-65.71M
Debt Issuance (Net)	1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	1000K
Share Repurchases	-7.2M	-1.5M	-1M	-600K	-1.3M	-7.3M	-5.4M	-2.98M	-5.75M
Other Financing	-500K	-700K	-7.4M	-1.3M	-1.4M	11M	-15.1M	0	0
Net Change in Cash	90.9M▲ 0%	131.7M▲ 44.9%	-219.5M▼ 266.7%	42M▲ 119.1%	13.6M▼ 67.6%	-36.6M▼ 369.1%	-20.7M▲ 43.4%	19.92M▲ 196.2%	-22.13M▼ 211.1%
Exchange Rate Effect	0	0	0	0	0	0	0	0	0
Cash at Beginning	12.3M	103.2M	234.9M	15.4M	57.4M	71M	34.4M	13.75M	33.67M
Cash at End	103.2M	234.9M	15.4M	57.4M	71M	34.4M	13.7M	33.67M	11.54M
Free Cash Flow	-43.8M▲ 0%	13.8M▲ 131.5%	-97.5M▼ 806.5%	42.5M▲ 143.6%	93.9M▲ 120.9%	12.3M▼ 86.9%	35.9M▲ 191.9%	47.21M▲ 31.5%	27.28M▼ 42.2%
FCF Growth %	-793.88%	131.51%	-806.52%	143.59%	120.94%	-86.9%	191.87%	31.52%	-42.22%
FCF / Revenue %	-10.29%	2.14%	-22.4%	22.33%	36.97%	5.33%	17.19%	19.95%	13.2%

ALEX Key Ratios

Alexander & Baldwin, Inc. (ALEX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
FFO per Share	6.47	11.55	-0.37	0.2	0.66	1.03	-0.17	0.91	1.33	1.41
FFO Payout Ratio	3.85%	1.68%	-593.18%	354.61%	28.69%	62.13%	-456.67%	96.55%	67.09%	63.79%
NOI Margin	30.71%	29.02%	40.66%	21.67%	33.68%	46.89%	42.35%	48.99%	45.49%	46.5%
Net Debt / EBITDA	1.34x	1.36x	3.56x	19.64x	7.64x	3.78x	2.89x	4.45x	3.80x	5.74x
Debt / Assets	23.89%	28.29%	34.97%	34.84%	34.65%	28.58%	26.69%	28.25%	28.43%	30.49%
Interest Coverage	2.05x	1.13x	4.90x	-0.43x	1.40x	3.25x	5.26x	2.81x	3.13x	3.13x
Book Value / Share	24.56	12.28	17.11	15.63	15.14	14.69	14.27	13.78	13.79	13.51
Revenue Growth	-18.04%	9.81%	51.45%	-32.46%	-56.27%	33.47%	-9.23%	-9.42%	13.31%	-12.66%

ALEX SEC Filings & Documents

Alexander & Baldwin, Inc. (ALEX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Mar 17, 2026·SEC

Material company update

Mar 10, 2026·SEC

Material company update

Feb 25, 2026·SEC

10-K Annual Reports

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 29, 2024·SEC

FY 2023

Mar 1, 2023·SEC

10-Q Quarterly Reports

FY 2025

Oct 31, 2025·SEC

FY 2025

Jul 25, 2025·SEC

FY 2025

Apr 25, 2025·SEC

ALEX Frequently Asked Questions

Alexander & Baldwin, Inc. (ALEX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Alexander & Baldwin, Inc. (ALEX) reported $206.7M in revenue for fiscal year 2025. This represents a 85% decrease from $1.40B in 2009.

Alexander & Baldwin, Inc. (ALEX) saw revenue decline by 12.7% over the past year.

Yes, Alexander & Baldwin, Inc. (ALEX) is profitable, generating $64.7M in net income for fiscal year 2025 (31.3% net margin).

Dividend & Returns

Yes, Alexander & Baldwin, Inc. (ALEX) pays a dividend with a yield of 4.32%. This makes it attractive for income-focused investors.

Alexander & Baldwin, Inc. (ALEX) has a return on equity (ROE) of 6.5%. This is below average, suggesting room for improvement.

Industry Metrics

Alexander & Baldwin, Inc. (ALEX) generated Funds From Operations (FFO) of $103.0M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Alexander & Baldwin, Inc. (ALEX) offers a 4.32% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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Alexander & Baldwin, Inc. (ALEX) financial analysis — history, returns, DCA and operating performance tools

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Alexander & Baldwin, Inc.(ALEX)Earnings, Financials & Key Ratios

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