Alexandria Real Estate Equities, Inc. (ARE) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 3, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ARE SEC filings page.
Alexandria Real Estate Equities, Inc. (ARE) reported $2.8B in revenue over the twelve months to Jun 30, 2026, down 8.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
The numbers show an asset-heavy business where operating cash generation persisted in FY2025 despite an accounting loss and rising leverage.
Operating cash flow remained roughly stable from FY2024 to FY2025 while net income swung to a$1.4B loss, so the earnings collapse was not mirrored in cash generation. With depreciation and amortization at$1.4B in FY2025, reported profit is a poor standalone gauge of the asset base's cash-producing operation.
Debt-to-equity rose from 0.6x in FY2023 to 0.8x in FY2025, showing leverage increased over two years rather than merely fluctuating with one annual result. Total equity ended FY2025 at
Operating cash flow was
Financial Health Signals
Scored against REITs for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Alexandria Real Estate Equities, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
FFO Margin measures funds from operations against revenue, and funds from operations is net income with property depreciation added back, since a building written down a little further every year on paper is often worth more rather than less. Alexandria Real Estate Equities, Inc. scores 79/100 on it among other REITs.
FFO Growth follows the three-year path of funds from operations, which is net income with property depreciation added back. Alexandria Real Estate Equities, Inc. scores 44/100 on it among other REITs.
Not available for Alexandria Real Estate Equities, Inc., and counted as zero in the overall score.
Not available for Alexandria Real Estate Equities, Inc., and counted as zero in the overall score.
AFFO Margin takes funds from operations, subtracts the spending a REIT needs just to keep its properties in working order, and measures what is left against revenue. Alexandria Real Estate Equities, Inc. scores 80/100 on it among other REITs.
Dividend coverage measures funds from operations against the dividends actually paid, and a figure above 1 means the payout came out of operations. Alexandria Real Estate Equities, Inc. scores 61/100 on it among other REITs.
Alexandria Real Estate Equities, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Alexandria Real Estate Equities, Inc. reported a net loss of $1.4B while generating $1.4B in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Alexandria Real Estate Equities, Inc. generated $662.8M in revenue in Q2 2026. This represents a decrease of 13.0% from the same quarter a year earlier. Against the prior quarter it is down 1.2%.
Alexandria Real Estate Equities, Inc. reported -$72.8M in net income in Q2 2026. This represents an increase of 32.0% from the same quarter a year earlier. Against the prior quarter it is down 120.1%.
Alexandria Real Estate Equities, Inc. earned -$0.43 per diluted share (EPS) in Q2 2026. This represents an increase of 32.8% from the same quarter a year earlier. Against the prior quarter it is down 120.5%.
Not reported for Q2 2026.
Cash & Balance Sheet
Alexandria Real Estate Equities, Inc. held $470.4M in cash against $12.8B in long-term debt as of Q2 2026.
Alexandria Real Estate Equities, Inc. paid $0.72 per share in dividends in Q2 2026. This represents a decrease of 45.5% from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Margins & Returns
Alexandria Real Estate Equities, Inc.'s net profit margin was -11.0% in Q2 2026, showing the share of revenue converted to profit. This is up 3.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 64.9 percentage points.
Alexandria Real Estate Equities, Inc.'s ROE was -0.5% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.8 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Alexandria Real Estate Equities, Inc. repurchased no shares in Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
ARE Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $662.8M-13.0% | $671.0M-11.5% | $754.4M-4.4% | $751.9M-5.0% | $762.0M-0.6% | $758.2M-1.4% | $788.9M+4.2% | $791.6M+10.9% |
| SG&A Expenses | $36.9M+26.5% | $34.7M+13.1% | $28.0M-14.4% | $29.2M-33.5% | $29.1M-34.7% | $30.7M-34.8% | $32.7M-44.8% | $43.9M-4.4% |
| Interest Expense | $64.3M+16.4% | $64.6M+26.9% | $65.7M+18.0% | $54.9M+26.0% | $55.3M+20.8% | $50.9M+24.6% | $55.7M+74.1% | $43.5M+281.6% |
| Net Income | -$72.8M+32.0% | $361.7M+4145.8% | -$1.1B-1636.5% | -$232.8M-238.6% | -$107.0M-329.1% | -$8.9M-105.2% | -$62.2M+29.6% | $167.9M+592.0% |
| EPS (Basic) | -$0.43+32.8% | $2.10+3100.0% | -$6.35-1571.1% | -$1.38-243.8% | -$0.64-356.0% | -$0.07-107.2% | -$0.38+29.6% | $0.96+638.5% |
| EPS (Diluted) | -$0.43+32.8% | $2.10+3100.0% | -$6.35-1571.1% | -$1.38-243.8% | -$0.64-356.0% | -$0.07-107.2% | -$0.38+29.6% | $0.96+638.5% |
| Diluted Shares (Avg) | 171M+0.3% | 171M+0.2% | N/A | 170M-1.1% | 170M-1.1% | 171M-0.8% | N/A | 172M+0.7% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Income Tax.
ARE Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $34.6B-8.0% | $34.2B-9.1% | $34.1B-9.2% | $37.4B-2.9% | $37.6B-0.6% | $37.6B-0.3% | $37.5B+2.1% | $38.5B+4.6% |
| Cash & Equivalents | $470.4M-9.6% | $418.7M-12.1% | $549.1M-0.6% | $579.5M+3.0% | $520.5M-7.2% | $476.4M-34.0% | $552.1M-10.7% | $562.6M+5.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $7.7M+22.2% | $7.4M+7.1% | $6.7M+4.1% | $6.4M-8.2% | $6.3M-8.1% | $6.9M-8.0% | $6.4M-21.9% | $7.0M+1.2% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $15.5B-2.7% | $14.8B-5.1% | $14.9B-1.3% | $16.3B+3.0% | $15.9B+4.6% | $15.6B+4.4% | $15.1B+6.9% | $15.8B+12.2% |
| Long-Term Debt | $12.8B-3.6% | $12.5B-4.4% | $12.4B+1.3% | $13.6B+7.1% | $13.3B+7.0% | $13.1B+7.2% | $12.2B+8.2% | $12.7B+13.3% |
| Total Equity | $15.6B-9.4% | $15.7B-9.9% | $15.5B-13.5% | $16.6B-8.7% | $17.2B-5.9% | $17.5B-5.1% | $17.9B-3.2% | $18.2B-2.2% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Non-Current Liabilities, Retained Earnings.
ARE Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $337.0M-26.8% | $196.6M-5.4% | $312.4M+13.9% | $433.5M-9.2% | $460.2M+11.8% | $207.9M-39.0% | $274.2M-36.0% | $477.4M+14.2% |
| Depreciation & Amortization | $304.4M-12.1% | $305.4M-10.7% | $322.1M-2.4% | $340.2M+15.7% | $346.1M+19.1% | $342.1M+19.0% | $330.1M+15.7% | $294.0M+9.1% |
| Stock-Based Compensation | N/A | $11.0M+9.6% | N/A | N/A | N/A | $10.1M-41.2% | N/A | N/A |
| Investing Cash Flow | -$409.7M-9.3% | -$584.8M+10.7% | $1.8B+303.3% | -$407.9M+16.5% | -$374.9M+34.6% | -$654.8M+26.8% | $446.3M+214.4% | -$488.5M+27.8% |
| Financing Cash Flow | $125.0M+407.2% | $258.0M-30.4% | -$2.1B-190.3% | $30.8M+23.3% | -$40.7M-924.8% | $370.8M-40.6% | -$738.7M-1438.4% | $24.9M+118.7% |
| Dividends Paid | $123.8M-45.5% | $123.8M-46.2% | $227.0M-0.1% | $227.2M-0.1% | $227.2M+2.3% | $230.0M+3.7% | $227.2M+6.0% | $227.4M+6.0% |
| Share Buybacks | $0 | $0-100.0% | $0-100.0% | $0 | $0 | $208.2M | $50.1M | $0 |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
ARE Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -11.0%+3.1pp | 53.9%+55.1pp | -143.3% | -30.9%-52.2pp | -14.0%-20.1pp | -1.2%-23.4pp | -7.9%+3.8pp | 21.2%+17.8pp |
| Return on Equity | -0.5%+0.1pp | 2.3%+2.4pp | -7.0%-6.6pp | -1.4%-2.3pp | -0.6%-0.9pp | -0.1%-1.0pp | -0.3%+0.1pp | 0.9%+0.8pp |
| Return on Assets | -0.2%+0.1pp | 1.1%+1.1pp | -3.2%-3.0pp | -0.6%-1.1pp | -0.3%-0.4pp | 0.0%-0.5pp | -0.2%+0.1pp | 0.4%+0.4pp |
| Debt-to-Equity | 0.820.0x | 0.800.0x | 0.80+0.1x | 0.82+0.1x | 0.77+0.1x | 0.75+0.1x | 0.68+0.1x | 0.70+0.1x |
| Asset Turnover | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.020.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Alexandria Real Estate Equities, Inc. ARE | FY2025 | $3.0B | -$1.4B | -47.2% | $7.3B | 44/100 |
| BXP, Inc. BXP | FY2025 | $3.5B | $276.8M | 8.0% | $9.2B | 41/100 |
| Vornado Realty Trust VNO | FY2025 | $1.8B | $937.0M | 51.8% | $6.0B | 59/100 |
| Kilroy Realty Corp. KRC | FY2025 | $1.1B | $303 | 0.0% | $3.9B | 34/100 |
| Cousins Properties Inc. CUZ | FY2025 | $993.8M | $40.5M | 4.1% | $4.4B | 71/100 |
| SL Green Realty Corp. SLG | FY2025 | $1.0B | -$96.9M | -9.7% | $3.3B | 27/100 |
Where Alexandria Real Estate Equities, Inc. Ranks
Frequently Asked Questions
What is Alexandria Real Estate Equities, Inc.'s annual revenue?
Alexandria Real Estate Equities, 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 Equities, Inc.'s revenue growing?
Alexandria Real Estate Equities, Inc. (ARE) revenue declined by 2.9% year-over-year, from $3.1B to $3.0B in fiscal year 2025.
Is Alexandria Real Estate Equities, Inc. profitable?
No, Alexandria Real Estate Equities, Inc. (ARE) reported a net income of -$1.4B in fiscal year 2025, with a net profit margin of -47.2%.
How much debt does Alexandria Real Estate Equities, Inc. have?
As of fiscal year 2025, Alexandria Real Estate Equities, Inc. (ARE) had $549.1M in cash and equivalents against $12.4B in long-term debt.
What is Alexandria Real Estate Equities, Inc.'s net profit margin?
Alexandria Real Estate Equities, 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 Equities, Inc. pay dividends?
Yes, Alexandria Real Estate Equities, Inc. (ARE) paid $4.68 per share in dividends during fiscal year 2025.
What is Alexandria Real Estate Equities, Inc.'s return on equity (ROE)?
Alexandria Real Estate Equities, Inc. (ARE) has a return on equity of -9.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Alexandria Real Estate Equities, Inc.'s operating cash flow?
Alexandria Real Estate Equities, 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 Equities, Inc.'s total assets?
Alexandria Real Estate Equities, Inc. (ARE) had $34.1B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Alexandria Real Estate Equities, Inc.'s debt-to-equity ratio?
Alexandria Real Estate Equities, 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 Equities, Inc.'s return on assets (ROA)?
Alexandria Real Estate Equities, 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 Equities, Inc.'s P/E ratio?
Alexandria Real Estate Equities, Inc. (ARE) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $7.3B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Alexandria Real Estate Equities, Inc.'s price-to-sales ratio?
Alexandria Real Estate Equities, Inc. (ARE) trades at 2.6x sales, its market capitalization divided by revenue of $2.8B revenue, trailing 12 months to June 30, 2026. The market capitalization is $7.3B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Alexandria Real Estate Equities, Inc.'s Piotroski F-Score?
Alexandria Real Estate Equities, Inc. (ARE) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Alexandria Real Estate Equities, Inc.'s earnings high quality?
Alexandria Real Estate Equities, Inc. (ARE) reported a net loss of $1.4B while generating $1.4B in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.
How financially healthy is Alexandria Real Estate Equities, Inc.?
Alexandria Real Estate Equities, Inc. (ARE) scores 44 out of 100 on our Financial Health Score, indicating moderate standing within its REITs peer group. The score is a 0-100 composite of six dimensions (FFO Margin, FFO Growth, Leverage, Interest Cov., AFFO Margin, Dividend Cov.), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.