Last 47 quarters of trend data · Real Estate · REIT - Diversified
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Safehold Inc.'s quarterly P/E stands at 8.8x, down 31.6% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 68.9% YoY to 16.7x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 9.70 | 8.78 | 9.45 | 9.97 | 11.41 | 12.83 | 24.29 | 11.48 | 11.98 | 10.09 | — | 16.95 | — |
| — | -31.6% | -61.1% | -13.1% | -4.7% | +27.2% | — | -32.3% | — | — | — | — | — | |
| P/S Ratio | 2.87 | 2.51 | 2.89 | 2.98 | 3.43 | 3.59 | 5.17 | 3.83 | 3.94 | 4.04 | 3.54 | 4.43 | 5.97 |
| — | -30.1% | -44.1% | -22.4% | -12.8% | -11.0% | +46.3% | -13.4% | -34.1% | -34.2% | -38.3% | -47.6% | -55.3% | |
| P/B Ratio | 0.45 | 0.40 | 0.46 | 0.46 | 0.56 | 0.56 | 0.81 | 0.58 | 0.62 | 0.72 | 0.52 | 0.67 | 0.85 |
| — | -27.5% | -43.2% | -19.7% | -9.9% | -23.3% | +55.1% | -14.1% | -26.5% | -12.9% | -31.9% | -36.9% | -46.4% | |
| P/FCF | 23.16 | 19.97 | — | 9.97 | 37.66 | 41.80 | 56.78 | 13.92 | — | 22.06 | 1800.63 | — | — |
| — | -52.2% | — | -28.3% | — | +89.5% | -96.8% | — | — | -37.7% | +2301.0% | — | — | |
| EV / EBITDA | 17.64 | 16.75 | 50.95 | 51.23 | 49.64 | 53.91 | 80.12 | 50.52 | 49.85 | 36.99 | — | 72.68 | 265.81 |
| — | -68.9% | -36.4% | +1.4% | -0.4% | +45.8% | — | -30.5% | -81.2% | -37.6% | — | +25.1% | +345.5% | |
| EV / EBIT | 18.13 | 16.75 | 16.83 | 17.03 | 17.26 | 17.80 | 21.50 | 17.18 | 17.20 | 15.58 | — | 20.03 | 31.65 |
| — | -5.9% | -21.7% | -0.9% | +0.4% | +14.2% | — | -14.2% | -45.6% | -30.0% | — | -22.1% | +4.0% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Safehold Inc.'s operating margin was 81.0% in Q4 2025, up 55.2 pp QoQ and up 56.4 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 39.6% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 4.6% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 94.3% | 94.3% | 98.5% | 99.1% | 98.8% | 98.8% | 98.8% | 98.8% | 98.8% | 98.6% | 98.8% | 98.8% | 98.5% |
| — | -4.6% | -0.3% | +0.2% | -0.0% | +0.2% | +0.0% | +0.0% | +0.4% | -0.3% | +0.0% | -0.1% | -0.4% | |
| Operating Margin | 79.8% | 81.0% | 25.9% | 25.5% | 25.9% | 24.6% | 17.5% | 26.7% | 26.4% | 33.9% | -152.2% | 18.5% | 3.1% |
| — | +229.0% | +47.8% | -4.5% | -1.8% | -27.3% | +111.5% | +44.5% | +742.0% | +28.1% | -249.2% | -41.4% | -91.6% | |
| Net Margin | 29.7% | 28.5% | 30.5% | 29.8% | 30.1% | 28.3% | 21.3% | 33.0% | 33.0% | 40.0% | -143.7% | 25.8% | 6.0% |
| — | +0.5% | +42.9% | -9.8% | -8.8% | -29.1% | +114.8% | +27.7% | +451.5% | +34.6% | -255.9% | -26.1% | -85.5% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.8% | 1.1% | 1.2% | 1.2% | 1.2% | 1.1% | 0.8% | 1.3% | 1.3% | 1.8% | -5.4% | 1.0% | 0.2% |
| — | +3.3% | +47.5% | -6.9% | -6.7% | -37.8% | +115.3% | +26.1% | +516.6% | +76.5% | -271.1% | -10.4% | -84.0% | |
| ROA | 1.6% | 0.4% | 0.4% | 0.4% | 0.4% | 0.4% | 0.3% | 0.4% | 0.5% | 0.6% | -1.9% | 0.3% | 0.1% |
| — | +2.0% | +44.8% | -9.5% | -8.6% | -40.1% | +114.9% | +26.8% | +502.9% | +69.3% | -264.0% | -17.6% | -85.0% | |
| ROIC | 3.4% | 0.9% | 0.3% | 0.3% | 0.3% | 0.3% | 0.2% | 0.3% | 0.3% | 0.4% | -1.6% | 0.2% | 0.0% |
| — | +234.2% | +49.9% | -4.0% | -1.5% | -38.1% | +111.7% | +45.4% | +832.3% | +61.7% | -255.0% | -35.9% | -91.4% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Safehold Inc.'s Debt/EBITDA ratio is 55.2x, down from 163.2x last quarter — elevated, raising questions about debt serviceability. Debt/Equity has risen for 5 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.84 | 1.84 | 1.83 | 1.81 | 1.79 | 1.78 | 1.82 | 1.72 | 1.73 | 1.73 | 1.71 | 1.78 | 1.78 |
| — | +3.4% | +0.6% | +5.1% | +3.3% | +3.0% | +6.4% | -3.0% | -3.2% | +6.1% | +5.6% | +11.4% | +24.1% | |
| Debt / EBITDA | 14.21 | 55.17 | 163.19 | 163.47 | 151.40 | 164.58 | 222.20 | 151.63 | 146.73 | 104.61 | — | 211.32 | 722.45 |
| — | -66.5% | -26.6% | +7.8% | +3.2% | +57.3% | — | -28.2% | -79.7% | -33.7% | — | +51.1% | +533.8% | |
| Current Ratio | 17.86 | 17.86 | 46.93 | 18.16 | 18.85 | 18.56 | 19.11 | 19.87 | 22.26 | 19.51 | 47.96 | 49.12 | 45.93 |
| — | -3.8% | +145.5% | -8.6% | -15.3% | -4.9% | -60.1% | -59.6% | -51.5% | -0.6% | +123.0% | +129.5% | +114.8% | |
| Quick Ratio | 17.86 | 17.86 | 46.93 | 18.16 | 18.85 | 18.56 | 19.11 | 19.87 | 22.26 | 19.51 | 47.96 | 49.12 | 45.93 |
| — | -3.8% | +145.5% | -8.6% | -15.3% | -4.9% | -60.1% | -59.6% | -51.5% | -0.6% | +123.0% | +129.5% | +114.8% | |
| Interest Coverage | 1.57 | 1.55 | 1.56 | 1.56 | 1.60 | 1.55 | 1.41 | 1.62 | 1.65 | 1.90 | -1.64 | 1.49 | 1.12 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 47 years · Updated daily
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Safehold Inc.'s current P/E is 9.7x. The average P/E over the last 4 quarters is 9.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Safehold Inc.'s current operating margin is 79.8%. Margins have been expanding 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 Safehold Inc.'s business trajectory between earnings reports.