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Safehold (SAFE) Financials

Safehold logo
$15.03 -0.02 (-0.13%)
Closing price 05/28/2025 03:59 PM Eastern
Extended Trading
$15.01 -0.02 (-0.13%)
As of 08:32 AM Eastern
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Annual Income Statements for Safehold

Annual Income Statements for Safehold

This table shows Safehold's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015 12/31/2014
Net Income / (Loss) Attributable to Common Shareholders
106 -55 135 73 -66 292 -65 111 44 -53 -34
Consolidated Net Income / (Loss)
107 -55 145 73 -31 334 -18 180 100 -6.16 16
Net Income / (Loss) Continuing Operations
107 -55 145 73 -116 -156 -18 52 82 -115 -74
Total Pre-Tax Income
110 -53 145 73 -116 -155 -18 51 72 -107 -70
Total Operating Income
87 -77 136 65 -17 -302 114 247 -3.98 85 85
Total Gross Profit
361 348 267 184 107 -166 435 443 361 429 449
Total Revenue
366 353 270 187 330 274 924 771 560 496 462
Operating Revenue
366 353 270 187 330 12 924 771 560 496 462
Total Cost of Revenue
4.22 4.65 3.11 2.66 224 178 489 329 200 67 13
Operating Cost of Revenue
4.22 4.65 3.11 2.66 224 178 489 329 200 67 13
Total Operating Expenses
274 425 132 119 123 136 321 195 365 343 365
Selling, General & Admin Expense
57 86 49 30 101 112 98 120 90 88 95
Depreciation Expense
9.95 9.94 9.61 9.56 7.33 7.18 59 49 52 62 74
Other Operating Expenses / (Income)
208 183 73 80 8.87 6.48 17 -5.83 209 183 162
Impairment Charge
0.00 145 0.00 0.00 5.79 11 147 32 14 11 35
Total Other Income / (Expense), net
23 24 9.06 7.90 -99 53 -131 -196 76 -193 -155
Interest & Investment Income
23 24 9.06 6.28 39 42 63 13 77 32 95
Income Tax Expense
3.45 1.72 0.00 0.00 0.09 0.37 0.82 -0.95 -10 7.64 3.91
Net Income / (Loss) Attributable to Noncontrolling Interest
0.85 0.41 9.26 0.23 12 -0.45 14 4.53 4.89 -3.72 -0.70
Basic Earnings per Share
$1.48 ($0.82) $2.17 $1.32 ($0.87) $1.61 ($0.95) $1.56 $0.60 ($0.62) ($0.40)
Weighted Average Basic Shares Outstanding
71.37M 66.69M 62.39M 55.25M 75.68M 64.70M 67.96M 71.02M 73.45M 84.99M 85.03M
Diluted Earnings per Share
$1.48 ($0.82) $2.17 $1.32 ($0.87) $1.61 ($0.95) $1.56 $0.60 ($0.62) ($0.40)
Weighted Average Diluted Shares Outstanding
71.45M 66.69M 62.39M 55.26M 75.68M 64.70M 67.96M 71.02M 73.84M 84.99M 85.03M
Weighted Average Basic & Diluted Shares Outstanding
71.45M 71.08M 86.84M 69.02M 75.68M 77.49M 68.16M 0.00 0.00 9K 15K
Cash Dividends to Common per Share
$0.71 $0.71 $0.70 $0.67 $0.43 $0.39 $0.18 - - - -

Quarterly Income Statements for Safehold

This table shows Safehold's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders
29 26 19 30 31 41 -123 22 4.68 22 66
Consolidated Net Income / (Loss)
29 26 20 30 31 41 -123 22 4.72 22 75
Net Income / (Loss) Continuing Operations
29 26 20 30 31 41 -123 22 4.72 22 75
Total Pre-Tax Income
30 27 21 30 32 43 -123 23 4.72 24 75
Total Operating Income
25 23 16 24 25 35 -130 16 2.45 19 73
Total Gross Profit
94 99 83 88 91 104 84 85 75 73 71
Total Revenue
98 92 91 90 93 103 86 86 78 73 72
Operating Revenue
98 92 91 90 93 103 86 86 78 73 72
Total Cost of Revenue
3.45 -7.39 8.16 1.67 1.79 -1.19 1.34 1.06 3.45 0.84 0.87
Operating Cost of Revenue
1.16 1.06 1.05 1.04 1.08 1.43 1.00 1.01 1.21 0.84 0.87
Other Cost of Revenue
2.30 - 7.11 0.63 0.71 - 0.34 0.05 2.24 - -
Total Operating Expenses
69 77 67 64 67 69 214 69 72 144 -38
Selling, General & Admin Expense
16 14 14 13 16 17 20 20 29 13 16
Depreciation Expense
2.20 2.49 2.48 2.49 2.49 2.49 2.52 2.53 2.40 2.40 2.41
Other Operating Expenses / (Income)
50 60 50 49 49 50 47 46 41 - 0.00
Total Other Income / (Expense), net
4.99 4.86 4.74 6.47 6.91 7.71 7.45 6.81 2.26 96 -33
Interest & Investment Income
4.99 4.86 4.74 6.47 6.91 7.71 7.45 6.81 2.26 - 2.24
Income Tax Expense
0.88 1.40 0.66 0.91 0.47 1.14 0.06 0.53 0.00 - 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest
0.05 0.04 0.62 -0.11 0.30 0.27 0.12 -0.02 0.03 -0.12 9.31
Basic Earnings per Share
$0.41 $0.36 $0.27 $0.42 $0.43 $0.62 ($1.81) $0.35 $0.07 $0.35 $1.04
Weighted Average Basic Shares Outstanding
71.52M 71.37M 71.44M 71.44M 71.17M 66.69M 67.98M 63.94M 63.67M 62.39M 63.39M
Diluted Earnings per Share
$0.41 $0.36 $0.27 $0.42 $0.43 $0.62 ($1.81) $0.35 $0.07 $0.35 $1.04
Weighted Average Diluted Shares Outstanding
71.64M 71.45M 71.54M 71.46M 71.24M 66.69M 67.98M 63.94M 63.67M 62.39M 63.39M
Weighted Average Basic & Diluted Shares Outstanding
71.72M 71.45M 71.44M 71.44M 71.44M 71.08M 71.07M 63.97M 63.94M 86.84M 86.70M
Cash Dividends to Common per Share
$0.18 $0.18 $0.18 $0.18 $0.18 $0.20 $0.18 $0.18 $0.18 $0.31 $0.13

Annual Cash Flow Statements for Safehold

This table details how cash moves in and out of Safehold's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015 12/31/2014
Net Change in Cash & Equivalents
-30 -1.65 9.87 -58 -202 -622 297 323 -383 239 -42
Net Cash From Operating Activities
38 15 65 27 22 -46 -24 102 29 -58 -10
Net Cash From Continuing Operating Activities
38 15 65 27 22 -46 -24 102 29 -119 14
Net Income / (Loss) Continuing Operations
107 -55 145 73 -31 334 -18 180 100 -6.16 16
Consolidated Net Income / (Loss)
107 -55 145 73 -31 334 -18 180 100 -6.16 -16
Depreciation Expense
9.95 9.94 9.61 9.56 58 58 59 50 54 65 -74
Amortization Expense
9.74 9.59 7.69 6.20 -17 -28 -26 -42 -61 5.75 29
Non-Cash Adjustments To Reconcile Net Income
-95 45 -133 -23 39 -370 -12 -95 -67 -175 71
Changes in Operating Assets and Liabilities, net
6.31 5.67 36 -39 -27 -40 -27 8.95 2.70 -8.59 -5.10
Net Cash From Investing Activities
-212 -577 -1,146 -1,288 31 -398 779 263 465 184 160
Net Cash From Continuing Investing Activities
-212 -577 -1,146 -1,286 31 -398 779 263 465 184 160
Purchase of Property, Plant & Equipment
0.00 -13 0.00 0.00 -41 -358 -148 -128 -212 -170 -147
Acquisitions
-10 -141 -0.01 -39 -260 -657 -95 -224 -58 - -
Purchase of Investments
0.00 -8.78 0.00 - - - - - - -12 -
Sale of Property, Plant & Equipment
5.76 1.63 0.00 0.00 209 445 412 314 436 363 404
Divestitures
0.00 3.21 0.00 0.00 - - - - 44 0.00 0.00
Sale and/or Maturity of Investments
63 12 136 0.00 259 489 41 50 597 201 76
Other Investing Activities, net
-272 -431 -1,281 -1,246 -136 -317 569 252 -342 -199 -173
Net Cash From Financing Activities
145 560 1,091 1,203 -255 -179 -458 -41 -878 113 -191
Net Cash From Continuing Financing Activities
145 560 1,091 1,203 -255 -179 -458 -41 -878 113 -191
Repayment of Debt
-2,032 -155 -1,010 -844 -930 -1,523 -954 -1,969 -1,454 -435 -1,491
Repurchase of Common Equity
-18 0.00 0.00 - -55 -68 -8.30 -46 -99 -70 0.00
Payment of Dividends
-52 -47 -51 -36 -71 -73 -105 -75 -62 -60 -51
Issuance of Debt
2,272 577 1,830 1,848 803 1,487 712 2,289 716 551 1,351
Issuance of Common Equity
29 192 328 243 0.50 2.81 14 0.01 - - -
Other Financing Activities, net
-54 -8.10 -6.16 -8.71 -2.72 -4.48 -116 -0.72 21 127 0.00

Quarterly Cash Flow Statements for Safehold

This table details how cash moves in and out of Safehold's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents
8.87 -7.14 2.24 -17 -7.57 7.28 -2.96 -5.86 -0.10 -45 -18
Net Cash From Operating Activities
8.90 7.90 8.26 25 -3.06 23 1.80 -2.66 -6.81 13 5.48
Net Cash From Continuing Operating Activities
8.90 7.90 8.26 25 -3.06 23 1.80 -2.66 -6.81 13 5.48
Net Income / (Loss) Continuing Operations
29 26 20 30 31 41 -123 22 4.72 22 75
Consolidated Net Income / (Loss)
29 26 20 30 31 41 -123 22 4.72 22 75
Depreciation Expense
2.20 2.49 2.48 2.49 2.49 2.49 2.52 2.53 2.40 2.40 2.41
Amortization Expense
2.63 2.53 2.43 2.33 2.44 2.41 2.41 2.40 2.37 1.92 1.94
Non-Cash Adjustments To Reconcile Net Income
-23 -26 -21 -24 -24 -41 122 -29 -7.50 -44 -54
Changes in Operating Assets and Liabilities, net
-2.00 2.57 4.00 14 -15 18 -2.68 -0.85 -8.80 30 -21
Net Cash From Investing Activities
-7.00 -21 -54 -62 -75 -127 -94 -86 -270 -98 -197
Net Cash From Continuing Investing Activities
-7.00 -21 -54 -62 -75 -127 -94 -86 -270 -101 -197
Acquisitions
-3.68 -0.43 - -0.43 -9.19 -19 -15 -18 -89 -0.01 -
Sale of Property, Plant & Equipment
1.21 0.62 1.81 - - - - - - - -
Sale and/or Maturity of Investments
11 1.38 - 33 29 12 - - 0.00 - 136
Other Investing Activities, net
-16 -23 -56 -98 -95 -109 -68 -69 -184 -101 -332
Net Cash From Financing Activities
6.97 6.43 48 20 70 111 89 83 277 40 173
Net Cash From Continuing Financing Activities
6.97 6.43 48 20 70 110 90 83 277 40 173
Repayment of Debt
-193 -1,162 -495 -45 -330 -5.13 -145 -0.01 -4.61 -0.03 -125
Payment of Dividends
-13 -13 -13 -13 -13 -13 -11 -0.01 -23 -20 -11
Issuance of Debt
216 1,181 598 75 417 119 100 78 280 60 310
Other Financing Activities, net
-2.92 -0.31 -48 -1.47 -3.65 -0.03 -6.25 -1.82 0.00 -19 -0.38

Annual Balance Sheets for Safehold

This table presents Safehold's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015 12/31/2014
Total Assets
6,899 6,548 5,851 4,841 4,862 5,085 5,014 4,731 4,826 5,598 5,463
Total Current Assets
128 141 20 672 786 307 932 658 329 711 1,451
Cash & Equivalents
8.35 19 20 340 99 307 932 658 329 711 472
Note & Lease Receivable
112 112 0.00 333 687 - - - - - -
Inventories, net
7.23 9.71 0.00 - - - - - - - 979
Plant, Property, & Equipment, net
695 704 707 287 -18 581 598 860 946 1,002 -460
Plant, Property & Equipment, gross
741 744 741 - - 1,761 - - - - -
Accumulated Depreciation
46 40 34 21 18 234 - - - - 460
Total Noncurrent Assets
6,077 5,704 5,124 3,903 4,094 4,206 3,484 3,213 3,551 3,885 7,268
Long-Term Investments
250 310 180 1,297 1,098 908 304 321 214 254 354
Noncurrent Note & Lease Receivables
5,499 5,058 4,630 88 9.04 1,257 999 1,313 1,462 1,620 1,492
Goodwill
0.00 0.00 0.00 - - - - - - - -
Intangible Assets
209 211 218 - - - - - - - -
Noncurrent Deferred & Refundable Income Taxes
5.22 7.62 0.00 - - - - - - - -
Other Noncurrent Operating Assets
114 117 96 217 759 2,041 2,181 1,579 1,875 2,010 5,421
Total Liabilities & Shareholders' Equity
6,899 6,548 5,851 4,841 4,862 5,085 5,014 4,731 4,826 5,598 5,463
Total Liabilities
4,525 4,253 3,686 3,777 3,797 3,847 3,950 3,817 3,761 4,486 4,204
Total Current Liabilities
145 135 100 1,205 1,186 424 316 238 212 215 181
Accounts Payable
145 135 100 237 195 424 316 238 212 215 181
Total Noncurrent Liabilities
4,380 4,118 3,586 2,572 2,612 3,423 3,634 3,579 3,549 4,271 4,023
Long-Term Debt
4,317 4,054 3,521 2,572 2,612 3,387 3,609 3,476 3,390 4,119 4,023
Other Noncurrent Operating Liabilities
63 64 65 - - 36 22 102 159 152 0.00
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
0.00 19 19 - - - - - 5.03 11 11
Total Equity & Noncontrolling Interests
2,374 2,277 2,146 1,063 1,064 1,238 1,064 914 1,060 1,101 1,248
Total Preferred & Common Equity
2,344 2,231 2,142 851 871 1,040 863 880 1,017 1,059 1,197
Total Common Equity
2,344 2,231 2,142 851 871 1,040 863 880 1,017 1,059 1,197
Common Stock
2,193 2,185 1,987 3,100 3,241 3,285 3,352 3,353 3,602 3,689 3,745
Retained Earnings
102 48 151 -2,227 -2,317 -2,206 -2,472 -2,471 -2,581 -2,625 -2,556
Accumulated Other Comprehensive Income / (Loss)
49 -1.34 3.28 -22 -53 -39 -17 -2.48 -4.22 -4.85 -0.97
Noncontrolling Interest
30 45 4.06 212 193 198 201 35 43 42 51

Quarterly Balance Sheets for Safehold

This table presents Safehold's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 3/31/2025 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets
6,929 6,815 6,769 6,674 6,443 6,419 6,291 3,522
Total Current Assets
136 136 135 134 131 14 20 1,527
Cash & Equivalents
17 16 13 11 11 14 20 1,336
Note & Lease Receivable
113 112 112 112 112 - - 177
Inventories, net
5.89 7.78 9.65 11 7.22 - - 12
Plant, Property, & Equipment, net
693 696 698 702 706 -37 -36 339
Plant, Property & Equipment, gross
741 741 741 743 745 - - -
Accumulated Depreciation
48 45 43 42 39 37 36 -
Total Noncurrent Assets
6,101 5,983 5,936 5,838 5,607 6,442 6,306 1,635
Long-Term Investments
246 246 243 275 287 267 243 1,605
Noncurrent Note & Lease Receivables
5,545 5,422 5,322 5,190 4,919 4,765 4,683 1.04
Intangible Assets
207 210 211 213 213 214 216 -
Noncurrent Deferred & Refundable Income Taxes
4.35 6.71 6.61 6.74 7.17 6.23 - -
Other Noncurrent Operating Assets
98 97 153 153 181 1,040 1,007 29
Total Liabilities & Shareholders' Equity
6,929 6,815 6,769 6,674 6,443 6,419 6,291 3,522
Total Liabilities
4,548 4,497 4,387 4,325 4,125 4,166 4,092 1,825
Total Current Liabilities
144 139 133 119 123 120 126 144
Accounts Payable
144 139 133 119 123 120 126 141
Total Noncurrent Liabilities
4,404 4,359 4,254 4,206 4,002 4,047 3,966 1,681
Long-Term Debt
4,341 4,296 4,191 4,143 3,938 3,982 3,902 1,681
Other Noncurrent Operating Liabilities
63 63 63 64 64 64 64 -
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest
0.00 0.00 0.00 19 19 19 19 -
Total Equity & Noncontrolling Interests
2,381 2,318 2,382 2,330 2,299 2,234 2,179 1,698
Total Preferred & Common Equity
2,351 2,288 2,313 2,283 2,264 2,199 2,152 1,680
Total Common Equity
2,351 2,288 2,313 2,283 2,264 2,199 2,152 1,680
Common Stock
2,196 2,191 2,192 2,191 2,184 2,035 2,032 3,458
Retained Earnings
119 89 83 66 19 155 144 -1,773
Accumulated Other Comprehensive Income / (Loss)
35 7.69 38 26 61 9.12 -24 -4.90
Noncontrolling Interest
30 30 70 46 35 34 27 17

Annual Metrics And Ratios for Safehold

This table displays calculated financial ratios and metrics derived from Safehold's official financial filings.

Metric 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020 12/31/2019 12/31/2018 12/31/2017 12/31/2016 12/31/2015 12/31/2014
Growth Metrics
- - - - - - - - - - -
Revenue Growth
3.72% 30.43% 44.54% -43.40% 20.72% -70.38% 19.82% 0.00% 12.99% 7.36% 18.23%
EBITDA Growth
285.53% -137.63% 88.30% 240.44% 126.02% -162.50% -42.50% 21.07% -106.84% 287.31% -59.18%
EBIT Growth
212.98% -156.83% 107.19% 489.07% 86.15% -206.78% -54.01% 13.75% -104.67% 0.80% 93.15%
NOPAT Growth
256.35% -139.78% 107.19% 655.81% 94.43% -365.41% -68.39% 164.31% -107.61% 0.80% 93.15%
Net Income Growth
295.39% -137.71% 97.23% 337.76% -109.23% 1,924.32% -110.17% 79.88% 1,727.12% -139.05% 114.17%
EPS Growth
280.49% -137.79% 97.23% 337.76% -109.23% 269.47% -160.90% 160.00% 196.77% -55.00% 78.14%
Operating Cash Flow Growth
145.96% -76.27% 140.93% 22.99% 147.97% -89.10% -123.76% 244.34% 150.64% -463.03% 94.27%
Free Cash Flow Firm Growth
44.39% 87.36% -853.07% -71.41% 1,236.46% -467.60% -93.11% 2,101.49% -88.52% 224.73% -479.49%
Invested Capital Growth
6.84% 9.76% 696.66% -44.56% -63.67% -0.61% 0.81% -12.78% -8.30% -41.18% 52.65%
Revenue Q/Q Growth
-2.96% 9.18% 9.13% -16.35% 309.25% -64.49% -0.90% 258.72% 8.92% 9.63% 1.95%
EBITDA Q/Q Growth
-10.21% 21.84% -11.90% 172.60% 104.95% -131.46% -46.58% 178.52% -103.74% 1,142.94% -67.06%
EBIT Q/Q Growth
-12.34% 16.74% -7.34% 140.26% 96.76% -146.37% -53.61% 189.38% -101.65% 870.40% -3.28%
NOPAT Q/Q Growth
-12.87% 16.74% -7.34% 157.51% 96.76% -180.90% -67.96% 191.69% -102.68% 870.40% -3.28%
Net Income Q/Q Growth
-12.60% 26.60% 8.40% -37.57% 45.70% 26.01% -120.36% 2.21% -17.04% 78.08% 155.76%
EPS Q/Q Growth
-12.43% 24.77% 8.40% -37.57% 45.70% -38.31% -195.96% 25.81% -1.64% 22.50% 58.33%
Operating Cash Flow Q/Q Growth
-28.60% 205.74% 77.38% 15.41% -8.78% 27.93% 31.05% -29.47% 108.06% 33.04% 74.48%
Free Cash Flow Firm Q/Q Growth
-10.42% 89.48% -297.70% 38.87% 2,921.95% -135.19% 110.29% 1.80% -31.30% 126,895.05% -660.89%
Invested Capital Q/Q Growth
1.29% 1.06% 1,209.27% -73.82% -61.06% -1.68% -8.45% 13.54% -2.65% -2.11% 66.56%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
98.84% 98.68% 98.85% 98.58% 32.26% -60.48% 47.03% 57.40% 64.40% 86.42% 97.22%
EBITDA Margin
29.20% -16.32% 56.58% 43.43% 7.22% -33.50% 15.87% 33.08% -1.91% 31.52% 8.74%
Operating Margin
23.81% -21.86% 50.17% 35.00% -5.09% -110.29% 12.31% 32.06% -0.71% 17.21% 18.33%
EBIT Margin
23.81% -21.86% 50.17% 35.00% -5.09% -44.37% 12.31% 32.06% -0.71% 17.21% 18.33%
Profit (Net Income) Margin
29.15% -15.48% 53.52% 39.23% -9.34% 122.15% -1.98% 23.37% 17.87% -1.24% 3.41%
Tax Burden Percent
96.87% 103.25% 100.00% 100.00% 26.55% -215.41% 104.65% 354.02% 139.63% 5.73% -22.44%
Interest Burden Percent
126.39% 68.56% 106.68% 112.06% 690.75% 127.79% -15.40% 20.58% -1,800.85% -125.84% -82.98%
Effective Tax Rate
3.13% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -1.86% -14.17% 0.00% 0.00%
Return on Invested Capital (ROIC)
1.35% -0.94% 4.39% 6.78% -0.51% -6.16% 2.32% 6.88% -0.11% 1.04% 0.99%
ROIC Less NNEP Spread (ROIC-NNEP)
1.93% -0.96% 5.01% -1.24% -2.12% 17.79% -1.70% 4.20% 3.38% -0.40% 0.06%
Return on Net Nonoperating Assets (RNNOA)
3.21% -1.51% 4.57% 0.11% -2.17% 35.21% -4.18% 11.33% 9.32% -1.56% 0.24%
Return on Equity (ROE)
4.57% -2.45% 8.96% 6.90% -2.68% 29.05% -1.85% 18.21% 9.20% -0.52% 1.23%
Cash Return on Invested Capital (CROIC)
-5.26% -10.24% -151.00% 64.12% 92.90% -5.56% 1.51% 20.53% 8.55% 52.89% -40.69%
Operating Return on Assets (OROA)
1.30% -1.24% 2.54% 1.35% -0.34% -2.41% 2.33% 5.18% -0.08% 1.54% 1.53%
Return on Assets (ROA)
1.59% -0.88% 2.71% 1.51% -0.62% 6.62% -0.38% 3.77% 1.92% -0.11% 0.28%
Return on Common Equity (ROCE)
4.47% -2.40% 8.31% 5.58% -2.23% 24.02% -1.63% 17.45% 8.78% -0.49% 1.16%
Return on Equity Simple (ROE_SIMPLE)
4.55% -2.45% 6.76% 8.62% -3.54% 32.13% -2.12% 20.49% 9.86% -0.58% 1.32%
Net Operating Profit after Tax (NOPAT)
84 -54 136 65 -12 -211 80 252 -4.55 60 59
NOPAT Margin
23.07% -15.30% 50.17% 35.00% -3.56% -77.20% 8.62% 32.66% -0.81% 12.05% 12.83%
Net Nonoperating Expense Percent (NNEP)
-0.57% 0.02% -0.61% 8.02% 1.62% -23.95% 4.02% 2.68% -3.49% 1.44% 0.92%
Return On Investment Capital (ROIC_SIMPLE)
1.26% -0.85% 2.39% - - - - - - - -
Cost of Revenue to Revenue
1.16% 1.32% 1.15% 1.42% 67.74% 64.85% 52.97% 42.60% 35.60% 13.58% 2.78%
SG&A Expenses to Revenue
15.56% 24.51% 18.05% 15.84% 30.70% 40.82% 10.62% 15.54% 16.04% 17.67% 20.48%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
75.03% 120.54% 48.67% 63.57% 37.36% 49.81% 34.73% 25.34% 65.11% 69.21% 78.89%
Earnings before Interest and Taxes (EBIT)
87 -77 136 65 -17 -121 114 247 -3.98 85 85
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
107 -58 153 81 24 -92 147 255 -11 156 40
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
0.68 0.88 1.15 6.23 3.62 2.37 1.87 2.16 2.06 2.28 2.35
Price to Tangible Book Value (P/TBV)
0.75 0.97 1.28 6.23 3.62 2.37 1.87 2.16 2.06 2.28 2.35
Price to Revenue (P/Rev)
4.39 5.57 9.14 28.38 9.54 9.02 1.75 2.46 3.74 4.86 6.10
Price to Earnings (P/E)
15.17 0.00 18.24 72.58 0.00 8.47 0.00 17.12 47.64 0.00 0.00
Dividend Yield
3.83% 7.24% 0.00% 7.35% 12.30% 12.32% 16.02% 5.38% 0.00% 0.00% 0.00%
Earnings Yield
6.59% 0.00% 5.48% 1.38% 0.00% 11.81% 0.00% 5.84% 2.10% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)
0.89 0.96 1.06 9.37 3.83 1.42 1.22 1.30 1.28 1.32 0.84
Enterprise Value to Revenue (EV/Rev)
15.57 16.32 21.51 34.51 14.41 17.68 4.53 5.75 8.90 11.32 13.15
Enterprise Value to EBITDA (EV/EBITDA)
53.33 0.00 38.02 79.47 199.54 0.00 28.56 17.37 0.00 35.93 150.52
Enterprise Value to EBIT (EV/EBIT)
65.38 0.00 42.87 98.60 0.00 0.00 36.84 17.92 0.00 65.81 71.75
Enterprise Value to NOPAT (EV/NOPAT)
67.50 0.00 42.87 98.60 0.00 0.00 52.63 17.59 0.00 94.01 102.51
Enterprise Value to Operating Cash Flow (EV/OCF)
150.41 373.77 89.66 239.79 217.51 0.00 0.00 43.64 169.21 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 10.43 2.20 0.00 80.86 5.90 14.27 1.84 0.00
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
1.82 1.77 1.63 2.42 2.45 2.74 3.39 3.80 3.18 3.70 3.19
Long-Term Debt to Equity
1.82 1.77 1.63 2.42 2.45 2.74 3.39 3.80 3.18 3.70 3.19
Financial Leverage
1.67 1.58 0.91 -0.09 1.02 1.98 2.46 2.70 2.76 3.86 3.67
Leverage Ratio
2.88 2.78 3.31 4.56 4.32 4.39 4.93 4.83 4.79 4.66 4.32
Compound Leverage Factor
3.64 1.91 3.53 5.11 29.84 5.61 -0.76 0.99 -86.23 -5.87 -3.58
Debt to Total Capital
64.52% 63.85% 61.93% 70.75% 71.05% 73.23% 77.23% 79.18% 76.10% 78.74% 76.16%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
64.52% 63.85% 61.93% 70.75% 71.05% 73.23% 77.23% 79.18% 76.10% 78.74% 76.16%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.45% 1.01% 0.41% 5.83% 5.26% 4.27% 4.30% 0.79% 1.08% 1.01% 1.18%
Common Equity to Total Capital
35.03% 35.14% 37.66% 23.42% 23.69% 22.50% 18.47% 20.04% 22.82% 20.25% 22.66%
Debt to EBITDA
40.44 -70.46 23.03 31.67 109.48 -36.94 24.60 13.63 -316.93 26.34 99.65
Net Debt to EBITDA
38.02 -64.74 21.72 11.52 59.34 -23.69 16.18 9.79 -266.15 20.17 79.18
Long-Term Debt to EBITDA
40.44 -70.46 23.03 31.67 109.48 -36.94 24.60 13.63 -316.93 26.34 99.65
Debt to NOPAT
51.18 -75.15 25.96 39.29 -221.76 -16.03 45.33 13.80 -745.28 68.94 67.86
Net Debt to NOPAT
48.12 -69.05 24.49 14.29 -120.19 -10.28 29.81 9.91 -625.87 52.78 53.93
Long-Term Debt to NOPAT
51.18 -75.15 25.96 39.29 -221.76 -16.03 45.33 13.80 -745.28 68.94 67.86
Altman Z-Score
0.33 0.30 0.54 0.15 -0.21 -0.27 -0.04 0.01 -0.27 -0.09 0.16
Noncontrolling Interest Sharing Ratio
2.02% 1.96% 7.28% 19.05% 16.98% 17.32% 11.91% 4.18% 4.65% 4.87% 5.14%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
0.88 1.05 0.20 0.56 0.66 0.72 2.95 2.76 1.55 3.31 8.02
Quick Ratio
0.83 0.97 0.20 0.56 0.66 0.72 2.95 2.76 1.55 3.31 2.61
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-328 -589 -4,661 619 2,165 -190 52 752 350 3,046 -2,442
Operating Cash Flow to CapEx
0.00% 134.45% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 15.59 -1.12 0.27 3.59 215.92 13.54 -9.77
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.16 -0.27 -0.12 0.48 18.21 -0.26 -0.04
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 1.37 0.24 1.23 1.37 156.27 0.60 0.99
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.05 0.06 0.05 0.04 0.07 0.05 0.19 0.16 0.11 0.09 0.08
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover
0.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.52 0.50 0.54 0.00 0.00 0.46 1.27 0.85 0.58 0.00 0.00
Accounts Payable Turnover
0.03 0.04 0.02 0.01 0.72 0.48 1.77 1.46 0.94 0.34 0.07
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)
732.07 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
12,076.32 9,212.27 19,780.95 29,584.67 505.02 761.49 206.66 249.74 390.01 1,071.83 4,999.32
Cash Conversion Cycle (CCC)
-11,344.25 -9,212.27 -19,780.95 -29,584.67 -505.02 -761.49 -206.66 -249.74 -390.01 -1,071.83 -4,999.32
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
6,433 6,021 5,486 689 1,242 3,419 3,440 3,412 3,911 4,266 7,251
Invested Capital Turnover
0.06 0.06 0.09 0.19 0.14 0.08 0.27 0.21 0.14 0.09 0.08
Increase / (Decrease) in Invested Capital
412 535 4,797 -554 -2,177 -21 28 -500 -354 -2,986 2,501
Enterprise Value (EV)
5,694 5,753 5,814 6,454 4,760 4,839 4,190 4,431 4,990 5,617 6,076
Market Capitalization
1,605 1,963 2,470 5,307 3,151 2,470 1,616 1,899 2,095 2,411 2,817
Book Value per Share
$32.81 $31.40 $24.70 $12.25 $11.77 $16.74 $12.69 $12.90 $14.28 $12.49 $14.05
Tangible Book Value per Share
$29.89 $28.43 $22.19 $12.25 $11.77 $16.74 $12.69 $12.90 $14.28 $12.49 $14.05
Total Capital
6,691 6,350 5,686 3,635 3,676 4,625 4,673 4,391 4,455 5,231 5,282
Total Debt
4,317 4,054 3,521 2,572 2,612 3,387 3,609 3,476 3,390 4,119 4,023
Total Long-Term Debt
4,317 4,054 3,521 2,572 2,612 3,387 3,609 3,476 3,390 4,119 4,023
Net Debt
4,059 3,725 3,321 935 1,416 2,172 2,373 2,497 2,847 3,154 3,197
Capital Expenditures (CapEx)
-5.76 11 0.00 0.00 -169 -87 -264 -186 -224 -193 -257
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-25 -13 -100 -872 -499 -424 -316 -238 -212 -215 798
Debt-free Net Working Capital (DFNWC)
-17 6.07 -80 -533 -400 -117 616 420 117 496 1,270
Net Working Capital (NWC)
-17 6.07 -80 -533 -400 -117 616 420 117 496 1,270
Net Nonoperating Expense (NNE)
-22 0.61 -9.06 -7.90 19 -546 98 72 -105 66 44
Net Nonoperating Obligations (NNO)
4,059 3,725 3,321 -375 178 2,181 2,375 2,497 2,847 3,154 5,992
Total Depreciation and Amortization (D&A)
20 20 17 16 41 30 33 7.81 -6.71 71 -44
Debt-free, Cash-free Net Working Capital to Revenue
-6.95% -3.60% -37.13% -466.44% -150.93% -155.05% -34.22% -30.86% -37.75% -43.31% 172.73%
Debt-free Net Working Capital to Revenue
-4.66% 1.72% -29.70% -284.85% -121.08% -42.82% 66.60% 54.42% 20.91% 100.05% 274.90%
Net Working Capital to Revenue
-4.66% 1.72% -29.70% -284.85% -121.08% -42.82% 66.60% 54.42% 20.91% 100.05% 274.90%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$1.48 ($0.82) $30.75 $6.88 ($4.25) $22.02 ($4.64) $7.62 $2.93 ($3.03) ($1.95)
Adjusted Weighted Average Basic Shares Outstanding
71.37M 66.69M 12.92M 14.71M 15.50M 13.25M 13.92M 14.55M 15.04M 15.58M 17.48M
Adjusted Diluted Earnings per Share
$1.48 ($0.82) $30.75 $6.88 ($4.25) $18.21 ($4.64) $7.62 $2.69 ($3.03) ($1.95)
Adjusted Weighted Average Diluted Shares Outstanding
71.45M 66.69M 12.92M 14.71M 15.50M 16.52M 13.92M 14.55M 20.17M 15.58M 17.48M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($3.03) ($1.95)
Adjusted Weighted Average Basic & Diluted Shares Outstanding
71.45M 71.08M 13.89M 14.14M 15.13M 15.87M 13.96M 0.00 0.00 17.41M 17.41M
Normalized Net Operating Profit after Tax (NOPAT)
84 48 95 46 -7.72 -204 183 196 7.35 67 84
Normalized NOPAT Margin
23.07% 13.56% 35.12% 24.50% -2.34% -74.40% 19.76% 25.38% 1.31% 13.53% 18.08%
Pre Tax Income Margin
30.10% -14.99% 53.52% 39.23% -35.17% -56.71% -1.89% 6.60% 12.80% -21.65% -15.21%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 -0.12 -0.72 0.59 1.18 -2.46 0.38 0.34
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 -0.08 -1.25 0.41 1.20 -2.81 0.27 0.24
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 1.09 -0.20 1.94 2.07 135.59 1.24 1.37
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 1.13 -0.73 1.77 2.09 135.25 1.12 1.27
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
48.32% -85.57% 35.07% 49.07% -231.18% 21.70% -575.50% 41.43% 61.98% -979.32% 325.53%
Augmented Payout Ratio
65.61% -85.57% 35.07% 49.07% -408.04% 42.13% -620.81% 66.91% 161.13% -2,108.30% 325.53%

Quarterly Metrics And Ratios for Safehold

This table displays calculated financial ratios and metrics derived from Safehold's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics
- - - - - - - - - - -
Revenue Growth
4.79% -10.83% 6.01% 4.94% 19.00% 40.42% 19.34% 32.02% 29.76% 175.50% -57.64%
EBITDA Growth
2.07% -30.53% 116.59% 38.83% 308.55% 67.80% -261.71% -16.28% -73.17% -74.96% 127.30%
EBIT Growth
2.90% -35.14% 112.19% 51.60% 901.96% 79.89% -278.06% -22.63% -89.16% -83.58% 239.49%
NOPAT Growth
1.42% -36.76% 116.85% 50.56% 886.97% 75.08% -224.64% -24.43% -89.16% -83.45% 239.37%
Net Income Growth
-5.22% -37.09% 116.24% 33.67% 557.95% 91.25% -262.95% -2.64% -81.07% 139.98% -42.45%
EPS Growth
-4.65% -41.94% 114.92% 20.00% 514.29% 77.14% -274.04% -2.78% -81.07% 139.98% -42.45%
Operating Cash Flow Growth
390.50% -65.75% 359.26% 1,031.84% 55.03% 81.52% -67.18% -112.04% -127.70% -59.87% -86.37%
Free Cash Flow Firm Growth
33.22% 22.10% 93.28% 93.76% 93.38% 89.50% -346.43% -327.59% -489.13% -812.33% 293.16%
Invested Capital Growth
4.10% 6.84% 6.61% 6.09% 6.32% 9.76% 1,321.96% 1,088.67% 822.52% 696.66% -84.07%
Revenue Q/Q Growth
6.32% 1.29% 0.90% -3.56% -9.53% 20.41% -0.12% 9.36% 6.76% 2.33% 10.50%
EBITDA Q/Q Growth
8.99% 32.94% -27.85% -2.35% -25.82% 131.75% -703.67% 187.36% -69.53% -69.40% 212.53%
EBIT Q/Q Growth
11.83% 42.53% -33.85% -2.41% -29.52% 126.78% -922.81% 545.03% -87.35% -73.49% 257.53%
NOPAT Q/Q Growth
14.41% 39.72% -33.99% -3.89% -30.57% 137.24% -689.64% 530.07% -87.35% -73.49% 257.53%
Net Income Q/Q Growth
12.78% 30.70% -32.49% -4.75% -25.15% 133.74% -655.59% 368.85% -78.24% -71.25% 231.96%
EPS Q/Q Growth
13.89% 33.33% -35.71% -2.33% -30.65% 134.25% -617.14% 400.00% -78.24% -71.25% 231.96%
Operating Cash Flow Q/Q Growth
12.70% -4.41% -66.63% 908.06% -113.29% 1,181.93% 167.71% 61.00% -153.62% 131.76% -75.16%
Free Cash Flow Firm Q/Q Growth
41.12% -3.27% -11.45% 1.45% 31.19% 91.09% -3.54% -4.54% -8.86% -309.12% -4.37%
Invested Capital Q/Q Growth
0.41% 1.29% 0.55% 1.80% 3.05% 1.06% 0.07% 2.01% 6.39% 1,209.27% -16.35%
Profitability Metrics
- - - - - - - - - - -
Gross Margin
96.46% 108.04% 91.00% 98.15% 98.08% 101.16% 98.44% 98.76% 95.60% 98.86% 98.79%
EBITDA Margin
30.84% 30.09% 22.92% 32.06% 31.66% 38.62% -146.46% 24.23% 9.22% 32.32% 108.09%
Operating Margin
25.90% 24.63% 17.50% 26.69% 26.38% 33.86% -152.22% 18.48% 3.13% 26.43% 102.02%
EBIT Margin
25.90% 24.63% 17.50% 26.69% 26.38% 33.86% -152.22% 18.48% 3.13% 26.43% 102.02%
Profit (Net Income) Margin
30.11% 28.39% 22.00% 32.88% 33.29% 40.24% -143.58% 25.81% 6.02% 29.54% 105.15%
Tax Burden Percent
97.09% 94.89% 96.80% 97.01% 98.50% 97.33% 100.04% 97.68% 100.00% 90.50% 100.00%
Interest Burden Percent
119.73% 121.47% 129.85% 126.96% 128.11% 122.10% 94.28% 143.00% 192.18% 123.51% 103.07%
Effective Tax Rate
2.91% 5.11% 3.20% 2.99% 1.50% 2.67% 0.00% 2.32% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)
1.47% 1.37% 1.04% 1.57% 1.59% 2.02% -10.79% 1.73% 0.28% 2.31% 16.57%
ROIC Less NNEP Spread (ROIC-NNEP)
1.59% 1.49% 1.16% 1.73% 1.77% 2.23% -13.48% 2.25% 0.46% 2.47% 18.15%
Return on Net Nonoperating Assets (RNNOA)
2.67% 2.49% 1.91% 2.86% 2.91% 3.53% -7.92% 1.49% 0.29% 2.25% 1.87%
Return on Equity (ROE)
4.14% 3.86% 2.95% 4.42% 4.50% 5.55% -18.71% 3.22% 0.57% 4.57% 18.45%
Cash Return on Invested Capital (CROIC)
-2.68% -5.26% -4.82% -6.45% -6.76% -10.24% -175.75% -165.53% -157.31% -151.00% 154.64%
Operating Return on Assets (OROA)
1.41% 1.34% 0.99% 1.50% 1.50% 1.93% -9.87% 1.14% 0.17% 1.34% 6.07%
Return on Assets (ROA)
1.64% 1.54% 1.25% 1.85% 1.89% 2.29% -9.31% 1.59% 0.33% 1.49% 6.26%
Return on Common Equity (ROCE)
4.06% 3.78% 2.90% 4.31% 4.39% 5.44% -18.38% 3.16% 0.51% 4.24% 17.01%
Return on Equity Simple (ROE_SIMPLE)
4.47% 0.00% 5.33% -0.90% -1.24% 0.00% -3.28% 5.63% 5.79% 0.00% 7.94%
Net Operating Profit after Tax (NOPAT)
25 21 15 23 24 34 -91 15 2.45 19 73
NOPAT Margin
25.15% 23.37% 16.94% 25.90% 25.98% 32.95% -106.55% 18.05% 3.13% 26.43% 102.02%
Net Nonoperating Expense Percent (NNEP)
-0.12% -0.12% -0.12% -0.16% -0.18% -0.21% 2.68% -0.52% -0.18% -0.16% -1.57%
Return On Investment Capital (ROIC_SIMPLE)
0.37% 0.32% - - - 0.54% - - - 0.34% -
Cost of Revenue to Revenue
3.54% -8.04% 9.00% 1.85% 1.92% -1.16% 1.56% 1.24% 4.40% 1.14% 1.21%
SG&A Expenses to Revenue
16.69% 15.59% 15.68% 14.06% 16.86% 16.55% 23.41% 23.57% 37.22% 17.48% 21.79%
R&D to Revenue
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue
70.56% 83.42% 73.50% 71.45% 71.70% 67.30% 250.66% 80.28% 92.47% 196.52% -52.69%
Earnings before Interest and Taxes (EBIT)
25 23 16 24 25 35 -130 16 2.45 19 73
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
30 28 21 29 30 40 -125 21 7.22 24 77
Valuation Ratios
- - - - - - - - - - -
Price to Book Value (P/BV)
0.69 0.68 1.00 0.72 0.78 0.88 0.66 0.90 1.15 1.15 1.42
Price to Tangible Book Value (P/TBV)
0.76 0.75 1.10 0.80 0.86 0.97 0.73 1.08 1.38 1.28 1.42
Price to Revenue (P/Rev)
4.39 4.39 6.04 4.51 4.87 5.57 4.63 6.43 8.55 9.14 9.64
Price to Earnings (P/E)
15.57 15.17 18.84 0.00 0.00 0.00 0.00 17.33 21.38 18.24 19.78
Dividend Yield
3.78% 3.83% 2.70% 3.67% 3.44% 7.24% 8.48% 8.27% 0.00% 0.00% 11.70%
Earnings Yield
6.42% 6.59% 5.31% 0.00% 0.00% 0.00% 0.00% 5.77% 4.68% 5.48% 5.06%
Enterprise Value to Invested Capital (EV/IC)
0.89 0.89 1.00 0.90 0.92 0.96 0.87 0.96 1.05 1.06 2.73
Enterprise Value to Revenue (EV/Rev)
15.49 15.57 16.83 15.28 15.54 16.32 16.07 18.58 21.33 21.51 4.62
Enterprise Value to EBITDA (EV/EBITDA)
53.40 53.33 53.33 0.00 0.00 0.00 0.00 44.45 46.15 38.02 6.59
Enterprise Value to EBIT (EV/EBIT)
65.31 65.38 63.83 0.00 0.00 0.00 0.00 51.81 53.26 42.87 7.82
Enterprise Value to NOPAT (EV/NOPAT)
67.71 67.50 65.50 0.00 0.00 0.00 0.00 51.81 53.26 42.87 7.82
Enterprise Value to Operating Cash Flow (EV/OCF)
115.10 150.41 119.60 121.97 298.34 373.77 1,030.86 658.72 183.86 89.66 31.31
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.49
Leverage & Solvency
- - - - - - - - - - -
Debt to Equity
1.82 1.82 1.85 1.76 1.76 1.77 1.70 1.77 1.78 1.63 0.99
Long-Term Debt to Equity
1.82 1.82 1.85 1.76 1.76 1.77 1.70 1.77 1.78 1.63 0.99
Financial Leverage
1.68 1.67 1.66 1.65 1.65 1.58 0.59 0.66 0.62 0.91 0.10
Leverage Ratio
2.88 2.88 2.86 2.85 2.85 2.78 2.48 2.58 2.60 3.31 3.01
Compound Leverage Factor
3.44 3.50 3.71 3.61 3.65 3.39 2.34 3.69 5.01 4.09 3.10
Debt to Total Capital
64.58% 64.52% 64.96% 63.75% 63.82% 63.85% 62.94% 63.87% 63.96% 61.93% 49.75%
Short-Term Debt to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital
64.58% 64.52% 64.96% 63.75% 63.82% 63.85% 62.94% 63.87% 63.96% 61.93% 49.75%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
0.45% 0.45% 0.45% 1.06% 1.00% 1.01% 0.86% 0.86% 0.76% 0.41% 0.51%
Common Equity to Total Capital
34.97% 35.03% 34.59% 35.19% 35.18% 35.14% 36.19% 35.27% 35.27% 37.66% 49.74%
Debt to EBITDA
40.43 40.44 36.12 -154.09 -117.51 -70.46 -53.49 30.83 29.29 23.03 9.68
Net Debt to EBITDA
37.98 38.02 33.92 -144.65 -109.38 -64.74 -49.43 28.65 27.31 21.72 -7.26
Long-Term Debt to EBITDA
40.43 40.44 36.12 -154.09 -117.51 -70.46 -53.49 30.83 29.29 23.03 9.68
Debt to NOPAT
51.27 51.18 44.37 -127.99 -107.72 -75.15 -60.77 35.93 33.80 25.96 11.48
Net Debt to NOPAT
48.16 48.12 41.66 -120.15 -100.27 -69.05 -56.16 33.39 31.51 24.49 -8.61
Long-Term Debt to NOPAT
51.27 51.18 44.37 -127.99 -107.72 -75.15 -60.77 35.93 33.80 25.96 11.48
Altman Z-Score
0.30 0.29 0.38 0.31 0.33 0.36 0.21 0.36 0.42 0.48 0.69
Noncontrolling Interest Sharing Ratio
2.02% 2.02% 1.81% 2.65% 2.45% 1.96% 1.78% 1.80% 9.47% 7.28% 7.82%
Liquidity Ratios
- - - - - - - - - - -
Current Ratio
0.94 0.88 0.98 1.02 1.13 1.05 1.06 0.12 0.16 0.20 10.62
Quick Ratio
0.90 0.83 0.92 0.95 1.04 0.97 1.00 0.12 0.16 0.20 10.54
Cash Flow Metrics
- - - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-230 -391 -378 -339 -344 -501 -5,630 -5,437 -5,201 -4,778 2,285
Operating Cash Flow to CapEx
0.00% 0.00% 0.00% 0.00% 0.00% 1,019.99% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 64.42
Operating Cash Flow to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.15
Operating Cash Flow Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.15
Efficiency Ratios
- - - - - - - - - - -
Asset Turnover
0.05 0.05 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.05 0.06
Accounts Receivable Turnover
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover
0.71 0.50 1.75 0.00 0.00 0.00 0.70 0.00 0.00 0.00 0.00
Fixed Asset Turnover
0.53 0.52 0.54 0.00 0.00 0.50 0.62 0.00 0.00 0.54 0.77
Accounts Payable Turnover
0.04 0.03 0.10 0.05 0.05 0.04 0.05 0.05 0.04 0.02 0.18
Days Sales Outstanding (DSO)
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)
511.84 732.07 208.49 0.00 0.00 0.00 522.70 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)
8,135.78 12,076.32 3,637.03 7,306.34 7,841.93 9,212.27 7,205.57 7,655.72 10,139.96 19,780.95 2,048.63
Cash Conversion Cycle (CCC)
-7,623.95 -11,344.25 -3,428.54 -7,306.34 -7,841.93 -9,212.27 -6,682.86 -7,655.72 -10,139.96 -19,780.95 -2,048.63
Capital & Investment Metrics
- - - - - - - - - - -
Invested Capital
6,459 6,433 6,351 6,316 6,205 6,021 5,958 5,954 5,836 5,486 419
Invested Capital Turnover
0.06 0.06 0.06 0.06 0.06 0.06 0.10 0.10 0.09 0.09 0.16
Increase / (Decrease) in Invested Capital
255 412 394 363 369 535 5,539 5,453 5,204 4,797 -2,211
Enterprise Value (EV)
5,734 5,694 6,341 5,678 5,710 5,753 5,189 5,742 6,148 5,814 1,145
Market Capitalization
1,626 1,605 2,278 1,675 1,789 1,963 1,496 1,988 2,464 2,470 2,388
Book Value per Share
$32.90 $32.81 $32.03 $32.38 $32.08 $31.40 $35.40 $34.40 $33.79 $24.70 $26.50
Tangible Book Value per Share
$30.00 $29.89 $29.08 $29.42 $29.10 $28.43 $32.07 $28.70 $27.95 $22.19 $26.50
Total Capital
6,723 6,691 6,613 6,573 6,491 6,350 6,256 6,235 6,100 5,686 3,378
Total Debt
4,341 4,317 4,296 4,191 4,143 4,054 3,938 3,982 3,902 3,521 1,681
Total Long-Term Debt
4,341 4,317 4,296 4,191 4,143 4,054 3,938 3,982 3,902 3,521 1,681
Net Debt
4,078 4,059 4,034 3,934 3,856 3,725 3,639 3,701 3,638 3,321 -1,260
Capital Expenditures (CapEx)
-1.21 -0.62 -1.81 0.00 0.00 2.26 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-26 -25 -18 -11 4.21 -13 -3.68 -120 -126 -100 48
Debt-free Net Working Capital (DFNWC)
-8.27 -17 -2.90 2.74 15 6.07 7.80 -106 -106 -80 1,383
Net Working Capital (NWC)
-8.27 -17 -2.90 2.74 15 6.07 7.80 -106 -106 -80 1,383
Net Nonoperating Expense (NNE)
-4.85 -4.61 -4.59 -6.28 -6.81 -7.50 32 -6.65 -2.26 -2.28 -2.24
Net Nonoperating Obligations (NNO)
4,078 4,059 4,034 3,934 3,856 3,725 3,639 3,701 3,638 3,321 -1,279
Total Depreciation and Amortization (D&A)
4.83 5.02 4.92 4.82 4.93 4.90 4.93 4.93 4.77 4.32 4.35
Debt-free, Cash-free Net Working Capital to Revenue
-6.91% -6.95% -4.90% -2.87% 1.15% -3.60% -1.14% -38.76% -43.78% -37.13% 19.21%
Debt-free Net Working Capital to Revenue
-2.23% -4.66% -0.77% 0.74% 4.22% 1.72% 2.42% -34.14% -36.72% -29.70% 558.46%
Net Working Capital to Revenue
-2.23% -4.66% -0.77% 0.74% 4.22% 1.72% 2.42% -34.14% -36.72% -29.70% 558.46%
Earnings Adjustments
- - - - - - - - - - -
Adjusted Basic Earnings per Share
$0.41 $0.36 $0.27 $0.42 $0.43 $0.62 ($1.81) $0.35 $0.07 $2.19 $0.68
Adjusted Weighted Average Basic Shares Outstanding
71.52M 71.37M 71.44M 71.44M 71.17M 66.69M 67.98M 63.94M 63.67M 9.98M 17.50M
Adjusted Diluted Earnings per Share
$0.41 $0.36 $0.27 $0.42 $0.43 $0.62 ($1.81) $0.35 $0.07 $2.19 $0.68
Adjusted Weighted Average Diluted Shares Outstanding
71.64M 71.45M 71.54M 71.46M 71.24M 66.69M 67.98M 63.94M 63.67M 9.98M 17.59M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.36 $0.00 $0.00 $0.00 $0.62 $0.00 $0.00 $0.00 $2.19 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
71.72M 71.45M 71.44M 71.44M 71.44M 71.08M 71.07M 63.97M 63.94M 13.89M 17.76M
Normalized Net Operating Profit after Tax (NOPAT)
25 21 15 23 24 34 11 15 1.72 14 12
Normalized NOPAT Margin
25.15% 23.37% 16.94% 25.90% 25.98% 32.95% 12.37% 18.05% 2.19% 18.50% 16.93%
Pre Tax Income Margin
31.01% 29.91% 22.73% 33.89% 33.79% 41.34% -143.51% 26.43% 6.02% 32.64% 105.15%
Debt Service Ratios
- - - - - - - - - - -
EBIT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.06
NOPAT to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.06
EBIT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.06
NOPAT Less CapEx to Interest Expense
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.06
Payout Ratios
- - - - - - - - - - -
Dividend Payout Ratio
49.00% 48.32% 42.58% -239.08% -130.16% -85.57% -71.26% 42.93% 51.18% 35.07% 36.59%
Augmented Payout Ratio
49.00% 65.61% 42.58% -239.08% -130.16% -85.57% -71.26% 42.93% 51.18% 35.07% 36.59%

Frequently Asked Questions About Safehold's Financials

When does Safehold's fiscal year end?

According to the most recent income statement we have on file, Safehold's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Safehold's net income changed over the last 10 years?

Over the last 10 years, Safehold's net income changed from $15.77 million in 2014 to $106.62 million in 2024, a change of 576.3%. Find out what analysts predict for Safehold in the coming months.

What is Safehold's operating income?
Safehold's total operating income in 2024 was $87.08 million, based on the following breakdown:
  • Total Gross Profit: $361.46 million
  • Total Operating Expenses: $274.38 million
How has Safehold revenue changed over the last 10 years?

Over the last 10 years, Safehold's total revenue changed from $462.03 million in 2014 to $365.69 million in 2024, a change of -20.9%.

How much debt does Safehold have?

Safehold's total liabilities were at $4.53 billion at the end of 2024, a 6.4% increase from 2023, and a 7.7% increase since 2014.

How much cash does Safehold have?

In the past 10 years, Safehold's cash and equivalents has ranged from $8.35 million in 2024 to $931.75 million in 2018, and is currently $8.35 million as of their latest financial filing in 2024.

How has Safehold's book value per share changed over the last 10 years?

Over the last 10 years, Safehold's book value per share changed from 14.05 in 2014 to 32.81 in 2024, a change of 133.5%.



This page (NYSE:SAFE) was last updated on 5/29/2025 by MarketBeat.com Staff
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