Last 47 quarters of trend data · Real Estate · REIT - Office
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -5.61 | 200.19 | 5.53 | — | — | — | — | — | 30.92 | 116.97 | 33.22 | 13.84 | 192.50 | 290.40 | 165.25 | 77.48 | 16.45 | 21.45 | — | 118.60 | 71.29 |
| — | — | — | — | — | — | — | — | -83.9% | -59.7% | -79.9% | -82.1% | +1069.9% | +1253.6% | — | -34.7% | -76.9% | +23.1% | — | +767.7% | +12.3% | |
| P/S Ratio | 2.78 | 3.13 | 3.26 | 2.76 | 4.82 | 4.19 | 5.31 | 5.50 | 6.58 | 6.66 | 7.33 | 7.30 | 6.04 | 6.88 | 7.79 | 9.05 | 8.62 | 9.13 | 12.99 | 14.97 | 13.14 |
| — | -25.4% | -38.6% | -49.7% | -26.8% | -37.1% | -27.6% | -24.7% | +8.9% | -3.2% | -5.9% | -19.3% | -29.9% | -24.6% | -40.0% | -39.5% | -34.4% | -30.1% | +10.0% | +15.8% | +41.9% | |
| P/B Ratio | 0.42 | 0.52 | 0.45 | 0.44 | 0.67 | 0.57 | 0.72 | 0.75 | 0.90 | 0.89 | 0.97 | 0.96 | 0.75 | 0.85 | 0.95 | 1.06 | 1.07 | 1.14 | 1.58 | 1.81 | 1.71 |
| — | -8.6% | -37.0% | -41.9% | -25.4% | -36.0% | -26.4% | -21.8% | +19.5% | +4.2% | +3.0% | -9.7% | -29.3% | -25.6% | -40.1% | -41.2% | -37.6% | -30.3% | +3.1% | +1.9% | +4.5% | |
| P/FCF | 5.84 | — | 11.12 | 6.67 | 8.18 | 6.71 | 18.96 | 15.30 | 10.70 | 12.21 | 16.24 | 145.28 | 10.23 | 10.13 | 17.55 | 15.01 | 15.60 | 17.26 | 41.65 | 34.46 | — |
| — | — | -41.4% | -56.4% | -23.6% | -45.0% | +16.8% | -89.5% | +4.6% | +20.6% | -7.4% | +867.6% | -34.4% | -41.3% | -57.9% | -56.4% | — | — | — | +0.3% | — | |
| EV / EBITDA | 138.10 | 16.93 | 12.86 | — | 14.74 | 13.18 | 14.79 | 14.78 | 16.65 | 16.40 | 17.36 | 18.75 | 16.74 | 17.80 | 19.53 | 20.22 | 20.37 | 20.98 | 26.76 | 30.28 | 17.58 |
| — | +28.5% | -13.1% | — | -11.5% | -19.7% | -14.8% | -21.1% | -0.5% | -7.9% | -11.1% | -7.3% | -17.8% | -15.1% | -27.0% | -33.2% | +15.8% | -22.7% | +5.9% | +13.3% | -7.5% | |
| EV / EBIT | — | 101.69 | 30.94 | — | — | — | 80.30 | 183.14 | 32.29 | 57.86 | 32.73 | — | 88.37 | 49.80 | 59.30 | 74.99 | 20.33 | 25.23 | — | 80.33 | 70.30 |
| — | — | -61.5% | — | — | — | +145.3% | — | -63.5% | +16.2% | -44.8% | — | +334.7% | +97.4% | — | -6.6% | -71.1% | +25.1% | — | +409.6% | +40.5% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.9% | 74.0% | 66.6% | 69.2% | 67.5% | 69.6% | 69.5% | 68.5% | 69.9% | 71.2% | 71.1% | 70.0% | 69.2% | 69.9% | 69.9% | 69.3% | 69.4% | 69.4% | 70.4% | 69.4% | 69.9% |
| — | +6.3% | -4.2% | +1.0% | -3.5% | -2.3% | -2.2% | -2.2% | +1.0% | +1.9% | +1.7% | +1.0% | -0.2% | +0.8% | -0.7% | -0.2% | -0.7% | -3.2% | -1.1% | -1.3% | -5.8% | |
| Operating Margin | -40.5% | 3.1% | 15.9% | -213.6% | 17.3% | 18.7% | 19.4% | 21.0% | 26.4% | 26.8% | 26.8% | 23.6% | 24.7% | 24.6% | 24.4% | 23.1% | 23.0% | 24.8% | 24.4% | 20.5% | 63.0% |
| — | -83.2% | -17.9% | -1118.8% | -34.5% | -30.4% | -27.7% | -11.2% | +6.9% | +9.2% | +10.1% | +2.2% | +7.4% | -1.1% | -0.3% | +12.5% | -63.6% | -7.5% | -7.1% | -17.0% | +80.9% | |
| Net Margin | -48.2% | 1.5% | 59.4% | -143.4% | -31.6% | -14.5% | -1.2% | -8.2% | 21.6% | 6.2% | 22.6% | -11.9% | 3.4% | 12.8% | 11.3% | 8.2% | 52.5% | 42.5% | -24.4% | 13.0% | 18.7% |
| — | +110.6% | +5035.9% | -1658.4% | -246.1% | -334.7% | -105.3% | +31.5% | +531.2% | -51.6% | +99.4% | -245.9% | -93.5% | -69.9% | +146.4% | -37.4% | +180.2% | -43.9% | -1539.3% | -86.4% | +25.5% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -6.9% | 0.1% | 2.1% | -5.4% | -1.1% | -0.5% | -0.0% | -0.3% | 0.7% | 0.2% | 0.8% | -0.4% | 0.1% | 0.4% | 0.3% | 0.2% | 1.7% | 1.3% | -0.8% | 0.4% | 0.6% |
| — | +113.0% | +5232.5% | -1846.5% | -246.7% | -338.0% | -105.4% | +29.2% | +593.8% | -48.0% | +119.0% | -257.8% | -93.5% | -70.5% | +145.0% | -40.6% | +165.6% | -46.1% | -1426.6% | -87.9% | -10.2% | |
| ROA | -4.0% | 0.0% | 1.2% | -3.0% | -0.6% | -0.3% | -0.0% | -0.2% | 0.4% | 0.1% | 0.5% | -0.2% | 0.1% | 0.2% | 0.2% | 0.2% | 1.0% | 0.8% | -0.5% | 0.3% | 0.4% |
| — | +112.5% | +5005.0% | -1748.5% | -241.1% | -330.2% | -105.2% | +31.9% | +565.7% | -49.4% | +113.0% | -254.7% | -93.5% | -70.3% | +145.3% | -39.0% | +174.7% | -44.1% | -1503.3% | -87.1% | -3.9% | |
| ROIC | -2.7% | 0.1% | 0.3% | -3.7% | 0.3% | 0.3% | 0.3% | 0.3% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 1.0% |
| — | -80.0% | -18.4% | -1171.6% | -36.9% | -32.4% | -30.2% | -12.2% | +11.9% | +12.4% | +16.5% | +8.3% | +7.5% | -0.9% | -1.3% | +10.2% | -64.2% | -7.5% | -9.9% | -22.1% | +38.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.67 | 0.67 | 0.67 | 0.67 | 0.66 | 0.63 | 0.61 | 0.57 | 0.59 | 0.56 | 0.55 | 0.52 | 0.51 | 0.51 | 0.53 | 0.47 | 0.51 | 0.52 | 0.53 | 0.48 | 0.57 |
| — | +6.4% | +8.7% | +17.0% | +12.5% | +11.2% | +10.5% | +10.1% | +15.2% | +11.2% | +5.2% | +11.0% | -0.8% | -2.7% | -0.8% | -3.9% | -9.4% | -8.3% | -11.7% | -17.6% | -14.1% | |
| Debt / EBITDA | 86.11 | 38.90 | 31.24 | — | 29.86 | 28.23 | 27.69 | 26.02 | 26.76 | 25.96 | 25.70 | 26.77 | 27.55 | 27.43 | 29.04 | 25.26 | 26.95 | 26.62 | 27.44 | 25.82 | 17.71 |
| — | +37.8% | +12.8% | — | +11.6% | +8.8% | +7.8% | -2.8% | -2.9% | -5.4% | -11.5% | +6.0% | +2.2% | +3.0% | +5.9% | -2.2% | +52.2% | -5.6% | -5.3% | -4.7% | -20.5% | |
| Current Ratio | 0.43 | 0.11 | 0.29 | 0.43 | 0.27 | 0.29 | 0.42 | 0.40 | 0.30 | 0.33 | 0.47 | 0.39 | 0.36 | 0.60 | 0.69 | 0.58 | 0.49 | 0.38 | 0.78 | 0.41 | 0.30 |
| — | -62.6% | -31.9% | +7.6% | -9.2% | -11.0% | -11.1% | +2.5% | -17.0% | -45.0% | -31.4% | -32.9% | -26.4% | +58.9% | -11.7% | +42.7% | +65.3% | -12.0% | +12.5% | -35.7% | -41.6% | |
| Quick Ratio | 0.43 | 0.11 | 0.29 | 0.43 | 0.27 | 0.29 | 0.42 | 0.40 | 0.30 | 0.33 | 0.47 | 0.39 | 0.36 | 0.60 | 0.69 | 0.58 | 0.49 | 0.38 | 0.78 | 0.41 | 0.30 |
| — | -62.6% | -31.9% | +7.6% | -9.2% | -11.0% | -11.1% | +2.5% | -17.0% | -45.0% | -31.4% | -32.9% | -26.4% | +58.9% | -11.7% | +42.7% | +65.3% | -12.0% | +12.5% | -35.7% | -41.6% | |
| Interest Coverage | -4.37 | 0.85 | 2.65 | -14.16 | -2.61 | -0.12 | 1.76 | 0.71 | 5.90 | 3.05 | 6.37 | -0.33 | 6.98 | 8.83 | 9.85 | 6.44 | 17.68 | 13.75 | -2.99 | 3.86 | 3.81 |
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Includes 30+ ratios · 47 years · Updated daily
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Quick answers to the most common questions about buying ARE stock.
Alexandria Real Estate Equities, Inc.'s current P/E is -5.6x. The average P/E over the last 2 quarters is 102.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Alexandria Real Estate Equities, Inc.'s current operating margin is -40.5%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Alexandria Real Estate Equities, Inc.'s business trajectory between earnings reports.