Alexandria Real Estate Eq Inc Financials

ARE

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

3/9

Alexandria Real Estate Eq Inc passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-0.99x

For every $1 of reported earnings, Alexandria Real Estate Eq Inc generates $-0.99 in operating cash flow ($1.4B OCF vs -$1.4B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

This page shows Alexandria Real Estate Eq Inc (ARE) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$3.0B

YoY-2.9%

5Y CAGR+9.9%

Alexandria Real Estate Eq Inc generated $3.0B in revenue in fiscal year 2025. This represents a decrease of 2.9% from the prior year.

EBITDA

N/A

Free Cash Flow

N/A

Net Income

-$1.4B

YoY-542.7%

Alexandria Real Estate Eq Inc reported -$1.4B in net income in fiscal year 2025. This represents a decrease of 542.7% from the prior year.

EPS (Diluted)

$-8.44

YoY-568.9%

Alexandria Real Estate Eq Inc earned $-8.44 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 568.9% from the prior year.

Cash & Debt

$549.1M

YoY-0.6%

5Y CAGR-0.7%

10Y CAGR+15.9%

Alexandria Real Estate Eq Inc held $549.1M in cash against $12.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

$4.68

YoY-9.8%

5Y CAGR+2.0%

Alexandria Real Estate Eq Inc paid $4.68 per share in dividends in fiscal year 2025. This represents a decrease of 9.8% from the prior year.

Shares Outstanding

173M

YoY+0.1%

5Y CAGR+4.9%

10Y CAGR+9.0%

Alexandria Real Estate Eq Inc had 173M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-47.2%

YoY-57.6pp

5Y CAGR-88.1pp

Alexandria Real Estate Eq Inc's net profit margin was -47.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 57.6 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

$208.2M

YoY+315.5%

Alexandria Real Estate Eq Inc spent $208.2M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 315.5% from the prior year.

Capital Expenditures

N/A

ARE Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$3.0B-2.9%	$3.1B+8.0%	$2.9B+11.5%	$2.6B+22.5%	$2.1B+12.1%	$1.9B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$117.0M-30.5%	$168.4M-15.5%	$199.4M+12.5%	$177.3M+17.0%	$151.5M+13.6%	$133.3M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$226.7M+22.0%	$185.8M+150.4%	$74.2M-21.2%	$94.2M-33.7%	$142.2M-17.2%	$171.6M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$1.4B-542.7%	$322.9M+211.6%	$103.6M-80.1%	$521.7M-8.7%	$571.2M-25.9%	$771.0M
EPS (Diluted)	$-8.44-568.9%	$1.80+233.3%	$0.54-83.0%	$3.18-16.8%	$3.82-36.4%	$6.01

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$754.4M+0.3%	$751.9M-1.3%	$762.0M+0.5%	$758.2M-3.9%	$788.9M-0.3%	$791.6M+3.2%	$766.7M-0.3%	$769.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$28.0M-4.1%	$29.2M+0.3%	$29.1M-5.0%	$30.7M-6.3%	$32.7M-25.5%	$43.9M-1.5%	$44.6M-5.2%	$47.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$65.7M+19.7%	$54.9M-0.8%	$55.3M+8.7%	$50.9M-8.6%	$55.7M+27.8%	$43.5M-4.9%	$45.8M+12.1%	$40.8M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$1.1B-364.4%	-$232.8M-117.5%	-$107.0M-1097.0%	-$8.9M+85.6%	-$62.2M-137.1%	$167.9M+259.6%	$46.7M-72.6%	$170.5M
EPS (Diluted)	$-6.35-360.1%	$-1.38-115.6%	$-0.64-814.3%	$-0.07+81.6%	$-0.38-139.6%	$0.96+284.0%	$0.25-74.2%	$0.97

ARE Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$34.1B-9.2%	$37.5B+2.1%	$36.8B+3.5%	$35.5B+17.6%	$30.2B+32.4%	$22.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$549.1M-0.6%	$552.1M-10.7%	$618.2M-25.1%	$825.2M+128.4%	$361.3M-36.4%	$568.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$6.7M+4.1%	$6.4M-21.9%	$8.2M+7.8%	$7.6M+3.2%	$7.4M+0.6%	$7.3M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$14.9B-1.3%	$15.1B+6.9%	$14.1B+10.2%	$12.8B+14.8%	$11.2B+19.2%	$9.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$12.4B+1.3%	$12.2B+8.2%	$11.3B+11.4%	$10.2B+15.6%	$8.8B+16.2%	$7.6B
Total Equity	$15.5B-13.5%	$17.9B-3.2%	$18.5B-2.6%	$19.0B+17.2%	$16.2B+38.1%	$11.7B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$34.1B-8.8%	$37.4B-0.7%	$37.6B+0.1%	$37.6B+0.2%	$37.5B-2.5%	$38.5B+1.7%	$37.8B+0.4%	$37.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$549.1M-5.2%	$579.5M+11.3%	$520.5M+9.3%	$476.4M-13.7%	$552.1M-1.9%	$562.6M+0.3%	$561.0M-22.3%	$722.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$6.7M+4.1%	$6.4M+2.3%	$6.3M-8.8%	$6.9M+7.3%	$6.4M-8.2%	$7.0M+2.3%	$6.8M-8.7%	$7.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$14.9B-8.2%	$16.3B+2.3%	$15.9B+1.8%	$15.6B+3.1%	$15.1B-4.2%	$15.8B+4.0%	$15.2B+1.6%	$14.9B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$12.4B-8.8%	$13.6B+2.3%	$13.3B+1.6%	$13.1B+6.9%	$12.2B-3.5%	$12.7B+2.2%	$12.4B+1.7%	$12.2B
Total Equity	$15.5B-7.0%	$16.6B-3.1%	$17.2B-1.7%	$17.5B-2.4%	$17.9B-1.8%	$18.2B-0.2%	$18.3B-0.8%	$18.4B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ARE Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.4B-6.0%	$1.5B-7.7%	$1.6B+26.0%	$1.3B+28.1%	$1.0B+14.5%	$882.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$362.1M+124.0%	-$1.5B+39.6%	-$2.5B+50.8%	-$5.1B+28.5%	-$7.1B-116.8%	-$3.3B
Financing Cash Flow	-$1.8B-1811.6%	-$93.3M-113.8%	$674.2M-84.1%	$4.2B-28.5%	$5.9B+115.1%	$2.8B
Dividends Paid	$911.5M+1.4%	$898.6M+6.0%	$847.5M+11.9%	$757.7M+15.5%	$656.0M+23.1%	$533.0M
Share Buybacks	$208.2M+315.5%	$50.1M	$0	$0	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$312.4M-27.9%	$433.5M-5.8%	$460.2M+121.3%	$207.9M-24.2%	$274.2M-42.6%	$477.4M+15.9%	$411.8M+20.7%	$341.2M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$1.8B+541.2%	-$407.9M-8.8%	-$374.9M+42.7%	-$654.8M-246.7%	$446.3M+191.4%	-$488.5M+14.8%	-$573.6M+35.9%	-$894.9M
Financing Cash Flow	-$2.1B-7074.2%	$30.8M+175.6%	-$40.7M-111.0%	$370.8M+150.2%	-$738.7M-3061.4%	$24.9M+728.5%	-$4.0M-100.6%	$624.4M
Dividends Paid	$227.0M-0.1%	$227.2M0.0%	$227.2M-1.2%	$230.0M+1.2%	$227.2M-0.1%	$227.4M+2.4%	$222.1M+0.1%	$221.8M
Share Buybacks	$0	$0	$0-100.0%	$208.2M+315.5%	$50.1M	$0	$0	$0

ARE Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-47.2%-57.6pp	10.4%+6.8pp	3.6%-16.6pp	20.2%-6.9pp	27.0%-13.9pp	40.9%
Return on Equity	N/A	1.8%+1.3pp	0.6%-2.2pp	2.8%-0.8pp	3.5%-3.0pp	6.6%
Return on Assets	-4.2%-5.1pp	0.9%+0.6pp	0.3%-1.2pp	1.5%-0.4pp	1.9%-1.5pp	3.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.80+0.1	0.68+0.1	0.61+0.1	0.540.0	0.54-0.1	0.65
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-143.3%-112.3pp	-30.9%-16.9pp	-14.0%-12.9pp	-1.2%+6.7pp	-7.9%-29.1pp	21.2%+15.1pp	6.1%-16.1pp	22.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	0.9%+0.7pp	0.3%-0.7pp	0.9%
Return on Assets	-3.2%-2.5pp	-0.6%-0.3pp	-0.3%-0.3pp	-0.0%+0.1pp	-0.2%-0.6pp	0.4%+0.3pp	0.1%-0.3pp	0.4%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.80-0.0	0.82+0.0	0.77+0.0	0.75+0.1	0.68-0.0	0.70+0.0	0.68+0.0	0.66
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Alexandria Real Estate Eq Inc's annual revenue?

Alexandria Real Estate Eq Inc (ARE) reported $3.0B in total revenue for fiscal year 2025. This represents a -2.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Alexandria Real Estate Eq Inc's revenue growing?

Alexandria Real Estate Eq Inc (ARE) revenue declined by 2.9% year-over-year, from $3.1B to $3.0B in fiscal year 2025.

Is Alexandria Real Estate Eq Inc profitable?

No, Alexandria Real Estate Eq Inc (ARE) reported a net income of -$1.4B in fiscal year 2025, with a net profit margin of -47.2%.

What is Alexandria Real Estate Eq Inc's earnings per share (EPS)?

Alexandria Real Estate Eq Inc (ARE) reported diluted earnings per share of $-8.44 for fiscal year 2025. This represents a -568.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Alexandria Real Estate Eq Inc have?

As of fiscal year 2025, Alexandria Real Estate Eq Inc (ARE) had $549.1M in cash and equivalents against $12.4B in long-term debt.

What is Alexandria Real Estate Eq Inc's net profit margin?

Alexandria Real Estate Eq Inc (ARE) had a net profit margin of -47.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Alexandria Real Estate Eq Inc pay dividends?

Yes, Alexandria Real Estate Eq Inc (ARE) paid $4.68 per share in dividends during fiscal year 2025.

What is Alexandria Real Estate Eq Inc's operating cash flow?

Alexandria Real Estate Eq Inc (ARE) generated $1.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Alexandria Real Estate Eq Inc's total assets?

Alexandria Real Estate Eq Inc (ARE) had $34.1B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Alexandria Real Estate Eq Inc buy back shares?

Yes, Alexandria Real Estate Eq Inc (ARE) spent $208.2M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Alexandria Real Estate Eq Inc have outstanding?

Alexandria Real Estate Eq Inc (ARE) had 173M shares outstanding as of fiscal year 2025.

What is Alexandria Real Estate Eq Inc's debt-to-equity ratio?

Alexandria Real Estate Eq Inc (ARE) had a debt-to-equity ratio of 0.80 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Alexandria Real Estate Eq Inc's return on assets (ROA)?

Alexandria Real Estate Eq Inc (ARE) had a return on assets of -4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Alexandria Real Estate Eq Inc's Piotroski F-Score?

Alexandria Real Estate Eq Inc (ARE) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Alexandria Real Estate Eq Inc's earnings high quality?

Alexandria Real Estate Eq Inc (ARE) has an earnings quality ratio of -0.99x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.