Safehold Inc. (SAFE) P/E Ratio History
Deep ValueTrading at 9.6x · 5th percentile of 5-year range · Significant discount to historical valuation · Data 1990–2025
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P/E Ratio Analysis
As of June 21, 2026, Safehold Inc. (SAFE) trades at a price-to-earnings ratio of 9.6x, with a stock price of $15.34 and trailing twelve-month earnings per share of $1.59.
The current P/E is 76% below its 5-year average of 40.3x. Over the past five years, SAFE's P/E has ranged from a low of 8.6x to a high of 91.4x, placing the current valuation at the 5th percentile of its historical range.
Compared to the Real Estate sector median P/E of 24.1x, SAFE trades at a 60% discount to its sector peers. The sector includes 174 companies with P/E ratios ranging from 0.7x to 195.6x.
The PEG ratio of 1.52 (P/E divided by 7% EPS growth) suggests a fair valuation relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, SAFE trades at a notable discount to the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our SAFE DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
SAFE Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
SAFE P/E vs Peers
Net Lease and Ground Lease REITs peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $2B | 234.1 | 3.95 | +151%Best | |
| $2B | 24.2 | - | +8% | |
| $3B | 22.5 | - | +2% | |
| $56B | 51.5 | - | +19% | |
| $9B | 21.7Lowest | 1.95 | -4% | |
| $6B | 22.9 | 0.96Best | +11% | |
| $9B | 41.4 | - | -1% | |
| $16B | 33.8 | - | +1% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
SAFE Historical P/E Data (1990–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q4 | Dec 31 2025 | $13.69 | $1.60 | 8.6x | -84% |
| FY2025 Q3 | - | $15.49 | $1.57 | 9.9x | -81% |
| FY2025 Q2 | Jun 30 2025 | $15.56 | $1.43 | 10.9x | -80% |
| FY2025 Q1 | Mar 31 2025 | $18.72 | $1.46 | 12.8x | -76% |
| FY2024 Q4 | - | $18.48 | $1.48 | 12.5x | -76% |
| FY2024 Q3 | Sep 30 2024 | $26.23 | $1.70 | 15.4x | -71% |
| FY2022 Q1 | - | $55.45 | $0.61 | 91.4x | +72% |
| FY2021 Q4 | Dec 31 2021 | $79.85 | $0.96 | 83.3x | +57% |
| FY2021 Q3 | - | $71.89 | $1.27 | 56.6x | +7% |
| FY2021 Q2 | Jun 30 2021 | $78.50 | $1.17 | 67.1x | +26% |
| FY2021 Q1 | Mar 31 2021 | $70.10 | $1.13 | 62.0x | +17% |
| FY2020 Q4 | - | $72.49 | $1.17 | 62.0x | +17% |
| FY2020 Q3 | Sep 30 2020 | $62.10 | $1.28 | 48.5x | -9% |
| FY2020 Q2 | - | $57.49 | $1.15 | 50.0x | -6% |
| FY2020 Q1 | - | $63.23 | $1.09 | 58.0x | +9% |
| FY2019 Q4 | - | $40.30 | $1.09 | 37.0x | -30% |
| FY2019 Q3 | Sep 30 2019 | $30.50 | $0.95 | 32.1x | -40% |
| FY2019 Q2 | Jun 30 2019 | $30.20 | $0.91 | 33.2x | -38% |
| FY2019 Q1 | Mar 31 2019 | $21.81 | $0.82 | 26.6x | -50% |
| FY2018 Q4 | Dec 31 2018 | $18.81 | $0.66 | 28.5x | -46% |
| FY2018 Q3 | Sep 30 2018 | $18.73 | $0.28 | 66.9x | +26% |
| FY2018 Q2 | Jun 30 2018 | $18.97 | $0.13 | 145.5x | +174% |
| FY2017 Q3 | Sep 30 2017 | $18.64 | $0.01 | 1792.3x | +3275% |
| FY2017 Q2 | Jun 30 2017 | $19.15 | $0.10 | 187.4x | +253% |
| FY2017 Q1 | Mar 31 2017 | $57.44 | $0.41 | 140.1x | +164% |
| FY2016 Q4 | Dec 31 2016 | $60.21 | $0.36 | 167.1x | +215% |
| FY2016 Q3 | Sep 30 2016 | $52.23 | $1.45 | 36.0x | -32% |
| FY2016 Q2 | - | $46.68 | $0.96 | 48.7x | -8% |
| FY2011 Q1 | - | $44.68 | $9.66 | 4.6x | -91% |
| FY2010 Q4 | Dec 31 2010 | $38.06 | $4.18 | 9.1x | -83% |
| FY2008 Q2 | Jun 30 2008 | $64.30 | $5.31 | 12.1x | -77% |
| FY2008 Q1 | Mar 31 2008 | $68.29 | $9.12 | 7.5x | -86% |
| FY2007 Q4 | Dec 31 2007 | $126.80 | $9.81 | 12.9x | -76% |
| FY2007 Q3 | Sep 30 2007 | $165.45 | $18.23 | 9.1x | -83% |
| FY2007 Q2 | Jun 30 2007 | $215.78 | $18.67 | 11.6x | -78% |
| FY2007 Q1 | Mar 31 2007 | $227.95 | $18.23 | 12.5x | -76% |
| FY2006 Q4 | Dec 31 2006 | $232.77 | $18.36 | 12.7x | -76% |
| FY2006 Q3 | Sep 30 2006 | $202.98 | $17.84 | 11.4x | -79% |
| FY2006 Q2 | Jun 30 2006 | $183.75 | $15.40 | 11.9x | -78% |
| FY2006 Q1 | Mar 31 2006 | $186.33 | $14.78 | 12.6x | -76% |
| FY2005 Q4 | Dec 31 2005 | $173.53 | $13.90 | 12.5x | -76% |
| FY2005 Q3 | Sep 30 2005 | $196.80 | $16.67 | 11.8x | -78% |
| FY2005 Q2 | - | $202.44 | $18.17 | 11.1x | -79% |
| FY2005 Q1 | - | $200.45 | $18.54 | 10.8x | -80% |
| FY2004 Q4 | Dec 31 2004 | $220.31 | $13.28 | 16.6x | -69% |
| FY2004 Q3 | - | $200.69 | $11.01 | 18.2x | -66% |
| FY2004 Q2 | Jun 30 2004 | $194.70 | $10.89 | 17.9x | -66% |
| FY2004 Q1 | Mar 31 2004 | $205.90 | $10.58 | 19.5x | -63% |
| FY2003 Q4 | Dec 31 2003 | $189.35 | $16.22 | 11.7x | -78% |
| FY2003 Q3 | - | $189.59 | $14.79 | 12.8x | -76% |
| FY2003 Q2 | Jun 30 2003 | $177.67 | $13.79 | 12.9x | -76% |
| FY2003 Q1 | Mar 31 2003 | $141.99 | $12.35 | 11.5x | -78% |
| FY2002 Q4 | - | $136.54 | $12.03 | 11.3x | -79% |
| FY2002 Q3 | Sep 30 2002 | $135.90 | $12.76 | 10.7x | -80% |
| FY2002 Q2 | Jun 30 2002 | $138.73 | $13.20 | 10.5x | -80% |
| FY2002 Q1 | Mar 31 2002 | $140.67 | $14.45 | 9.7x | -82% |
| FY2001 Q4 | Dec 31 2001 | $121.45 | $14.39 | 8.4x | -84% |
| FY2001 Q3 | Sep 30 2001 | $120.23 | $14.23 | 8.4x | -84% |
| FY2001 Q2 | Jun 30 2001 | $137.27 | $14.23 | 9.6x | -82% |
| FY2001 Q1 | Mar 31 2001 | $112.30 | $13.98 | 8.0x | -85% |
| FY2000 Q4 | Dec 31 2000 | $95.83 | $13.86 | 6.9x | -87% |
| FY2000 Q3 | Sep 30 2000 | $109.22 | $4.53 | 24.1x | -55% |
| FY2000 Q2 | Jun 30 2000 | $101.92 | $4.06 | 25.1x | -53% |
| FY2000 Q1 | Mar 31 2000 | $85.79 | $3.47 | 24.7x | -53% |
| FY1999 Q4 | Dec 31 1999 | $82.14 | $2.88 | 28.5x | -46% |
| FY1999 Q3 | - | $135.99 | $10.63 | 12.8x | -76% |
| FY1999 Q2 | Jun 30 1999 | $301.79 | $10.07 | 30.0x | -44% |
| FY1999 Q1 | Mar 31 1999 | $237.30 | $9.70 | 24.5x | -54% |
| FY1998 Q4 | - | $292.06 | $6.85 | 42.6x | -20% |
| FY1998 Q3 | Sep 30 1998 | $272.59 | $4.33 | 63.0x | +19% |
| FY1998 Q2 | - | $238.51 | $1.98 | 120.5x | +127% |
| FY1997 Q4 | Dec 31 1997 | $178.88 | $0.37 | 483.5x | +810% |
| FY1995 Q1 | Mar 31 1995 | $16.43 | $17.14 | 1.0x | -98% |
| FY1994 Q2 | - | $38.33 | $28.27 | 1.4x | -97% |
| FY1994 Q1 | - | $34.68 | $27.29 | 1.3x | -98% |
| FY1993 Q4 | Dec 31 1993 | $29.21 | $148.52 | 0.2x | -100% |
| FY1993 Q3 | - | $423.48 | $88.67 | 4.8x | -91% |
| FY1993 Q2 | Jun 30 1993 | $324.91 | $175.52 | 1.9x | -97% |
| FY1993 Q1 | Mar 31 1993 | $277.45 | $264.33 | 1.0x | -98% |
| FY1992 Q4 | - | $489.19 | $242.06 | 2.0x | -96% |
| FY1992 Q3 | Sep 30 1992 | $470.94 | $288.17 | 1.6x | -97% |
| FY1992 Q2 | - | $481.89 | $299.30 | 1.6x | -97% |
| FY1992 Q1 | - | $492.84 | $321.56 | 1.5x | -97% |
| FY1991 Q4 | - | $467.29 | $337.15 | 1.4x | -97% |
| FY1991 Q3 | Sep 30 1991 | $456.34 | $340.10 | 1.3x | -97% |
| FY1991 Q2 | Jun 30 1991 | $441.73 | $340.10 | 1.3x | -98% |
| FY1991 Q1 | Mar 31 1991 | $401.58 | $328.97 | 1.2x | -98% |
| FY1990 Q4 | Dec 31 1990 | $328.56 | $302.25 | 1.1x | -98% |
Average P/E for displayed period: 53.1x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
36+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
SAFE — Frequently Asked Questions
Quick answers to the most common questions about buying SAFE stock.
What is SAFE's P/E ratio?
Safehold Inc. (SAFE) trailing twelve-month P/E ratio is 9.6x, based on TTM diluted EPS of $1.59. The 5-year average P/E is 40.3x and the historical range spans 8.6x to 91.4x.
Is SAFE stock overvalued or undervalued?
SAFE trades at 9.6x P/E, below its 5-year average of 40.3x. At the 5th percentile of its historical range (8.6x–91.4x), the stock is priced at a discount to its own history.
Is SAFE stock expensive?
No, SAFE is not expensive on a historical basis. The current P/E of 9.6x is below the 5-year average of 40.3x and sits at the 5th percentile of its valuation range.
What is SAFE's historical P/E range?
Over the past 5 years, SAFE's P/E ratio has ranged from 8.6x to 91.4x, with a median of 37.0x and an average of 40.3x. The current P/E of 9.6x places the stock at the 5th percentile of this range. Full historical data spans 1990–2025.
How does SAFE's P/E compare to the S&P 500?
SAFE trades at 9.6x P/E versus the S&P 500 median of 24.4x. The 61% discount to the market suggests lower growth expectations or perceived higher risk.
How does SAFE's valuation compare to Real Estate peers?
Safehold Inc. P/E of 9.6x compares to the Real Estate sector median of 24.1x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is SAFE's PEG ratio?
SAFE PEG ratio is 1.52, based on a P/E of 9.6x and EPS growth of 7.4%. A PEG between 1 and 2 suggests valuation aligns with growth expectations — typically considered fair.
What is SAFE's earnings yield?
SAFE earnings yield is 10.37%, the inverse of its 9.6x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.