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6Mar 31, 2023·SEC
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Safehold Inc. (SAFE) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Safehold Inc. (SAFE) stock price & volume — 10-year historical chart
Safehold Inc. (SAFE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Safehold Inc. (SAFE) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Apr 30, 2026 | $0.40vs $0.43-7.0% | $111Mvs $97M+14.9% |
| Q1 2026 | Feb 11, 2026 | $0.42vs $0.42+0.0% | $98Mvs $95M+3.0% |
| Q4 2025 | Nov 5, 2025 | $0.41vs $0.40+2.5% | $96Mvs $96M+0.7% |
| Q3 2025 | Aug 5, 2025 | $0.39vs $0.39+0.0% | $94Mvs $95M-1.2% |
Safehold Inc. (SAFE) competitors in Net Lease and Ground Lease REITs — business model, growth, and fundamentals comparison
Safehold Inc. (SAFE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Safehold Inc. (SAFE) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 679.2M | 49.72M | 93.4M | 158.73M | 187.01M | 270.31M | 352.58M | 365.69M | 385.55M |
| Revenue Growth % | 3023.77% | -92.68% | 87.83% | 69.95% | 17.82% | 44.54% | 30.43% | 3.72% | 5.43% |
| Property Operating Expenses | 523.22M | 1.6M | 2.67M | 2.48M | 2.66M | 3.11M | 4.65M | 4.22M | 21.85M |
| Net Operating Income (NOI) | 155.98M▲ 0% | 48.12M▼ 69.1% | 90.72M▲ 88.5% | 156.25M▲ 72.2% | 184.35M▲ 18.0% | 267.2M▲ 44.9% | 347.93M▲ 30.2% | 361.46M▲ 3.9% | 363.7M▲ 0.6% |
| NOI Margin % | 22.97% | 96.78% | 97.14% | 98.44% | 98.58% | 98.85% | 98.68% | 98.84% | 94.33% |
| Operating Expenses | 142.09M | 19.8M | 54.58M | 100.07M | 118.89M | 131.57M | 425M | 274.38M | 56.12M |
| G&A Expenses | 98.88M | 10.66M | 14.44M | 22.73M | 28.75M | 38.61M | 65.44M | 54.92M | 0 |
| EBITDA | 498.19M | 675.22M | 48.03M | 68.27M | 77.45M | 147.55M | -64.83M | 99.34M | 316.13M |
| EBITDA Margin % | 73.35% | 1357.93% | 51.43% | 43.01% | 41.41% | 54.58% | -18.39% | 27.17% | 81.99% |
| Depreciation & Amortization | 491.57M | 663.28M | 11.89M | 12.08M | 11.99M | 11.92M | 12.24M | 12.26M | 8.55M |
| D&A / Revenue % | 72.38% | 1333.93% | 12.73% | 7.61% | 6.41% | 4.41% | 3.47% | 3.35% | 2.22% |
| Operating Income | 6.62M▲ 0% | 11.94M▲ 80.4% | 36.14M▲ 202.8% | 56.18M▲ 55.5% | 65.46M▲ 16.5% | 135.63M▲ 107.2% | -77.08M▼ 156.8% | 87.08M▲ 213.0% | 307.58M▲ 253.2% |
| Operating Margin % | 0.97% | 24% | 38.7% | 35.4% | 35% | 50.17% | -21.86% | 23.81% | 79.78% |
| Interest Expense | 194.69M | 15.39M | 29.87M | 64.35M | 79.71M | 128.97M | 181.01M | 198.04M | 206.69M |
| Interest Coverage | 0.04x | 1.78x | 2.13x | 1.92x | 1.92x | 2.12x | 0.71x | 1.56x | 1.57x |
| Non-Operating Income | -10.3M | -15.39M | -27.45M | -67.66M | -87.6M | -138.02M | -205.24M | -221.02M | -16.66M |
| Pretax Income | 50.9M▲ 0% | 11.94M▼ 76.6% | 33.73M▲ 182.6% | 59.49M▲ 76.4% | 73.36M▲ 23.3% | 144.68M▲ 97.2% | -52.85M▼ 136.5% | 110.06M▲ 308.3% | 117.56M▲ 6.8% |
| Pretax Margin % | 7.49% | 24% | 36.11% | 37.48% | 39.23% | 53.52% | -14.99% | 30.1% | 30.49% |
| Income Tax | -948K | 0 | 0 | 0 | 0 | 0 | 1.72M | 3.44M | 2.93M |
| Effective Tax Rate % | -1.86% | 0% | 0% | 0% | 0% | 0% | -3.25% | 3.13% | 2.49% |
| Net Income | 175.68M▲ 0% | 11.74M▼ 93.3% | 27.69M▲ 135.9% | 59.29M▲ 114.1% | 73.12M▲ 23.3% | 135.42M▲ 85.2% | -54.97M▼ 140.6% | 105.76M▲ 292.4% | 114.47M▲ 8.2% |
| Net Margin % | 25.87% | 23.61% | 29.65% | 37.36% | 39.1% | 50.1% | -15.59% | 28.92% | 29.69% |
| Net Income Growth % | 2555.81% | -93.32% | 135.89% | 114.11% | 23.32% | 85.2% | -140.59% | 292.39% | 8.23% |
| Funds From Operations (FFO) | 667.26M▲ 0% | 675.02M▲ 1.2% | 39.58M▼ 94.1% | 71.38M▲ 80.3% | 85.11M▲ 19.2% | 147.34M▲ 73.1% | -42.73M▼ 129.0% | 118.02M▲ 376.2% | 123.02M▲ 4.2% |
| FFO Margin % | 98.24% | 1357.54% | 42.38% | 44.97% | 45.51% | 54.51% | -12.12% | 32.27% | 31.91% |
| FFO Growth % | 99.06% | 1.16% | -94.14% | 80.33% | 19.24% | 73.12% | -129% | 376.19% | 4.23% |
| FFO per Share | 58.72 | 37.05 | 3.07 | 1.37 | 1.52 | 2.34 | -0.64 | 1.65 | 1.71 |
| FFO Payout Ratio % | 0.43% | 1.62% | 41.99% | 78.68% | 42.24% | 28.63% | -107.74% | 42.86% | 41.4% |
| EPS (Diluted) | 9.75▲ 0% | 0.64▼ 93.4% | 23.29▲ 3539.1% | 1.17▼ 95.0% | 1.32▲ 12.8% | 2.17▲ 64.4% | -0.82▼ 137.8% | 1.48▲ 280.5% | 1.59▲ 7.4% |
| EPS Growth % | 2608.33% | -93.44% | 3539.06% | -94.98% | 12.82% | 64.39% | -137.79% | 280.49% | 7.43% |
| EPS (Basic) | 9.75 | 0.64 | 28.17 | 1.17 | 1.32 | 2.17 | -0.82 | 1.48 | 1.60 |
| Diluted Shares Outstanding | 11.36M | 18.22M | 12.91M | 51.97M | 56.15M | 62.91M | 66.69M | 71.45M | 71.79M |
Safehold Inc. (SAFE) 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 | 728.51M | 979.74M | 2.57B | 3.21B | 4.52B | 5.85B | 6.55B | 6.9B | 7.25B |
| Asset Growth % | 367.99% | 34.49% | 161.96% | 25.03% | 40.72% | 29.57% | 11.92% | 5.36% | 5.07% |
| Real Estate & Other Assets | 450K | 2.42M | 678.2M | 1.97M | 723.86M | 743.52M | 756.14M | 769.16M | 74.06M |
| PP&E (Net) | 860.31M | 602.07M | 29.66M | 28.55M | 27.43M | 26.31M | 34.94M | 30.35M | 0 |
| Investment Securities | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Total Current Assets | 176.82M | 49.36M | 503.75M | 2.07B | 954.16M | 1.58B | 1.97B | 2.18B | 2.43B |
| Cash & Equivalents | 168.21M | 16.42M | 22.7M | 56.95M | 29.62M | 20.07M | 18.76M | 8.35M | 21.7M |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Other Current Assets | 4.51M | 9.81M | 24.08M | 34.31M | 8.9M | 28.32M | 30.07M | 8.77M | 0 |
| Intangible Assets | 138.72M | 262.53M | 242.84M | 242.17M | 224.18M | 217.79M | 211.11M | 208.73M | 204.02M |
| Total Liabilities | 372.58M | 622.38M | 1.47B | 1.83B | 2.83B | 3.69B | 4.25B | 4.53B | 4.81B |
| Total Debt | 307.07M | 543.97M | 1.38B | 1.69B | 2.7B | 3.53B | 3.97B | 4.23B | 4.49B |
| Net Debt | 138.86M | 527.55M | 1.36B | 1.63B | 2.67B | 3.51B | 3.95B | 4.22B | 4.47B |
| Long-Term Debt | 307.98M | 543.97M | 1.37B | 1.68B | 2.7B | 3.52B | 3.95B | 4.22B | 4.49B |
| Short-Term Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 5.85M | 5.73M | 5.61M | 5.47M | 15.75M | 10.37M | 5.62M |
| Total Current Liabilities | 6.02M | 8.92M | 19.11M | 31.49M | 48.89M | 80.35M | 101.14M | 117.51M | 136.3M |
| Accounts Payable | 1.35M | 23.14M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue | -3.58B | -376.82M | 0 | 27M | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 58.58M | 67.71M | 75.38M | 105.72M | 78.53M | 79.13M | 181.38M | 180.03M | 181.58M |
| Total Equity | 390.48M▲ 0% | 357.36M▼ 8.5% | 1.09B▲ 205.9% | 1.38B▲ 26.3% | 1.69B▲ 22.0% | 2.16B▲ 28.4% | 2.3B▲ 6.1% | 2.37B▲ 3.4% | 2.44B▲ 2.8% |
| Equity Growth % | 98% | -8.48% | 205.94% | 26.34% | 22% | 28.45% | 6.05% | 3.41% | 2.77% |
| Shareholders Equity | 355.94M | 355.35M | 1.09B | 1.38B | 1.68B | 2.14B | 2.23B | 2.34B | 2.41B |
| Minority Interest | 34.55M | 2.01M | 1.49M | 2.18M | 2.92M | 23.07M | 64.42M | 30.01M | 31.57M |
| Common Stock | 182K | 183K | 478K | 532K | 566K | 624K | 711K | 714K | 717K |
| Additional Paid-in Capital | 364.92M | 370.53M | 1.13B | 1.41B | 1.66B | 1.99B | 2.18B | 2.19B | 2.2B |
| Retained Earnings | -9.25M | -8.49M | -2.15M | 23.95M | 59.37M | 151.23M | 47.58M | 102.47M | 165.74M |
| Preferred Stock | 16K | 16K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | 39.74% | 1.37% | 1.56% | 2.05% | 1.89% | 2.61% | -0.89% | 1.57% | 1.62% |
| Return on Equity (ROE) | 59.79% | 3.14% | 3.82% | 4.79% | 4.77% | 7.04% | -2.46% | 4.53% | 4.76% |
| Debt / Assets | 42.15% | 55.52% | 53.72% | 52.68% | 59.86% | 60.28% | 60.63% | 61.28% | 61.96% |
| Debt / Equity | 0.79x | 1.52x | 1.26x | 1.22x | 1.60x | 1.63x | 1.73x | 1.78x | 1.84x |
| Net Debt / EBITDA | 0.28x | 0.78x | 28.23x | 23.93x | 34.52x | 23.77x | - | 42.48x | 14.14x |
| Book Value per Share | 34.36 | 19.62 | 84.71 | 26.58 | 30.01 | 34.41 | 34.42 | 33.23 | 33.99 |
Safehold Inc. (SAFE) 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 | 80.21M | -24.13M | -1.96M | 61.76M | 26.92M | 64.85M | 15.39M | 37.85M | 47.81M |
| Operating CF Growth % | 1363.72% | -130.08% | 91.86% | 3246.05% | -56.41% | 140.93% | -76.27% | 145.96% | 26.31% |
| Operating CF / Revenue % | 11.81% | -48.52% | -2.1% | 38.91% | 14.39% | 23.99% | 4.37% | 10.35% | 12.4% |
| Net Income | 56.79M | -18.33M | 33.73M | -116.64M | 73.36M | 144.68M | -54.56M | 105.76M | 114.63M |
| Depreciation & Amortization | 49.93M | 58.7M | 11.89M | 7.33M | 11.99M | 11.92M | 12.24M | 10.45M | 10.86M |
| Stock-Based Compensation | 18.81M | 873K | 1.58M | 0 | 1.75M | 1.55M | 23.23M | 13.76M | 12.55M |
| Other Non-Cash Items | -14.48M | -52.75M | -25.13M | 180.6M | -42.66M | -124.41M | 27.37M | -105.44M | -100.68M |
| Working Capital Changes | -7.08M | -29.31M | -24.03M | -9.53M | -11.6M | 31.12M | 7.11M | 13.33M | 10.46M |
| Cash from Investing | 269.49M | 778.86M | -1.52B | -8.2M | -1.29B | -1.15B | -576.57M | -212.37M | -237.18M |
| Acquisitions (Net) | -224.22M | 13.61M | -127.97M | 496K | -39.45M | -7K | -149.94M | -10.05M | -28.88M |
| Purchase of Investments | -224.22M | -94.58M | -1.36B | -260.12M | -2.08M | -1.28B | -316.75M | -304.28M | -182.53M |
| Sale of Investments | 887.66M | 189.04M | 250K | 428.72M | 111.43M | 0 | 9.19M | 45.17M | 6.34M |
| Other Investing | -11.27M | 859.83M | 1.34B | -120.54M | -109.9M | 134.71M | -119.07M | 56.79M | -32.1M |
| Cash from Financing | -20.73M | -457.94M | 1.55B | -255.47M | 1.2B | 1.09B | 559.53M | 144.89M | 202.98M |
| Dividends Paid | -48.44M | -10.93M | -16.62M | -56.16M | -35.95M | -42.19M | -46.04M | -50.59M | -50.92M |
| Common Dividends | -2.85M | -10.93M | -16.62M | 0 | -35.95M | -42.19M | -46.04M | -50.59M | -50.92M |
| Debt Issuance (Net) | 1000K | 1000K | 1000K | -1000K | 1000K | 1000K | 1000K | 1000K | 1000K |
| Share Repurchases | -285.93M | -8.3M | 0 | -54.56M | 0 | 0 | 0 | -5.1M | 0 |
| Other Financing | 5.65M | -1.39M | 217.58M | -26.45M | -22.71M | -998K | 26.63M | -63M | -234.43M |
| Net Change in Cash | 328.94M▲ 0% | 296.81M▼ 9.8% | 22.36M▼ 92.5% | -208.54M▼ 1032.8% | -57.95M▲ 72.2% | 9.87M▲ 117.0% | -1.65M▼ 116.7% | -29.62M▼ 1695.3% | 13.62M▲ 146.0% |
| Exchange Rate Effect | -28K | 19K | 0 | -6.63M | -124K | 0 | 0 | 0 | 0 |
| Cash at Beginning | 328.74M | 677.73M | 24.43M | 307.17M | 96.47M | 38.52M | 48.39M | 46.74M | 17.12M |
| Cash at End | 657.69M | 974.54M | 46.78M | 98.63M | 38.52M | 48.39M | 46.74M | 17.12M | 30.74M |
| Free Cash Flow | -78.25M▲ 0% | -213.17M▼ 172.4% | -1.37B▼ 541.1% | 5M▲ 100.4% | -1.22B▼ 24496.9% | 64.85M▲ 105.3% | 15.39M▼ 76.3% | 37.85M▲ 146.0% | 47.81M▲ 26.3% |
| FCF Growth % | 53.46% | -172.4% | -541.12% | 100.37% | -24496.86% | 105.31% | -76.27% | 145.96% | 26.31% |
| FCF / Revenue % | -11.52% | -428.7% | -1463.28% | 3.15% | -652.93% | 23.99% | 4.37% | 10.35% | 12.4% |
Safehold Inc. (SAFE) 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 | 18.43 | 58.72 | 37.05 | 3.07 | 1.37 | 1.52 | 2.34 | -0.64 | 1.65 | 1.71 |
| FFO Payout Ratio | 15.31% | 0.43% | 1.62% | 41.99% | 78.68% | 42.24% | 28.63% | -107.74% | 42.86% | 41.4% |
| NOI Margin | 96.04% | 22.97% | 96.78% | 97.14% | 98.44% | 98.58% | 98.85% | 98.68% | 98.84% | 94.33% |
| Net Debt / EBITDA | 9.38x | 0.28x | 0.78x | 28.23x | 23.93x | 34.52x | 23.77x | - | 42.48x | 14.14x |
| Debt / Assets | 2280.01% | 42.15% | 55.52% | 53.72% | 52.68% | 59.86% | 60.28% | 60.63% | 61.28% | 61.96% |
| Interest Coverage | 1.80x | 0.04x | 1.78x | 2.13x | 1.92x | 1.92x | 2.12x | 0.71x | 1.56x | 1.57x |
| Book Value / Share | 10.84 | 34.36 | 19.62 | 84.71 | 26.58 | 30.01 | 34.41 | 34.42 | 33.23 | 33.99 |
| Revenue Growth | 17.12% | 3023.77% | -92.68% | 87.83% | 69.95% | 17.82% | 44.54% | 30.43% | 3.72% | 5.43% |
Safehold Inc. (SAFE) SEC filings — annual & quarterly reports (10-K, 10-Q)
Mar 31, 2023·SEC
Mar 9, 2023·SEC
Mar 2, 2023·SEC
Safehold Inc. (SAFE) stock FAQ — growth, dividends, profitability & financials explained
Safehold Inc. (SAFE) reported $385.6M in revenue for fiscal year 2025. This represents a 192676% increase from $0.2M in 1996.
Safehold Inc. (SAFE) grew revenue by 5.4% over the past year. This is steady growth.
Yes, Safehold Inc. (SAFE) is profitable, generating $114.5M in net income for fiscal year 2025 (29.7% net margin).
Yes, Safehold Inc. (SAFE) pays a dividend with a yield of 4.70%. This makes it attractive for income-focused investors.
Safehold Inc. (SAFE) has a return on equity (ROE) of 4.8%. This is below average, suggesting room for improvement.
Safehold Inc. (SAFE) generated Funds From Operations (FFO) of $124.3M in the trailing twelve months. FFO is the primary profitability metric for REITs.
Safehold Inc. (SAFE) offers a 4.70% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.
Safehold Inc. (SAFE) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates