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.

Alexandria Real Estate Eq Inc Financials

ARE

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

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).

Rhea AI ARE FY2025 2026-04-27

Alexandria’s real-estate cash engine stayed productive while balance-sheet leverage rose and GAAP earnings turned sharply negative.

Most recently, operating cash flow was $1.41B while net income was -$1.43B, showing that the reported loss did not turn into a comparable cash drain. That divergence fits a property owner with heavy depreciation, but it matters more because debt-to-equity also climbed over the last two years, so weaker accounting results are arriving as the equity cushion gets thinner.

The cash-flow statement changed shape: investing cash flow swung to an inflow of $362M while financing cash flow was -$1.78B. That points to asset recycling or a pause in expansion, with internal sources helping fund capital allocation and liability reduction instead of fresh outside financing.

Even after the loss, dividends paid of $911M remained below operating cash flow of $1.41B, so the payout appears tied more to property cash generation than to GAAP earnings. The pressure point is the capital structure: total assets fell to $34.1B as long-term debt edged up to $12.4B, leaving less balance-sheet support behind essentially the same cash-producing base.

Financial Health Signals

Financial Health Score 42/100

Scored as: REITs peer group

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 Eq 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

FFO Growth

AFFO Margin

Dividend Cov.

Piotroski F-Score Partial

3/7

Alexandria Real Estate Eq 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.

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.

Key Financial Metrics

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Earnings & Revenue

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

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 & Balance Sheet

Free Cash Flow

N/A

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.

Margins & Returns

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

-9.2%

YoY-11.1pp

5Y CAGR-15.8pp

10Y CAGR-12.9pp

Alexandria Real Estate Eq Inc's ROE was -9.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 11.1 percentage points from the prior year.

Capital Allocation

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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$671.0M-11.1%	$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
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	$34.7M+23.8%	$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
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$64.6M-1.7%	$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
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$361.7M+133.5%	-$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
EPS (Diluted)	$2.10	N/A	$-1.38-115.6%	$-0.64-814.3%	$-0.07	N/A	$0.96+284.0%	$0.25

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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$34.2B+0.3%	$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
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$418.7M-23.7%	$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
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$7.4M+10.3%	$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
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$14.8B-0.8%	$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
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$12.5B+1.0%	$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
Total Equity	$15.7B+1.7%	$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
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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$196.6M-37.1%	$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
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	-$584.8M-132.5%	$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
Financing Cash Flow	$258.0M+112.0%	-$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
Dividends Paid	$123.8M-45.5%	$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
Share Buybacks	$0	$0	$0	$0-100.0%	$208.2M+315.5%	$50.1M	$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	-9.2%-11.1pp	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	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
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	53.9%+197.2pp	-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%
Return on Equity	2.3%+9.3pp	-7.0%-5.6pp	-1.4%-0.8pp	-0.6%-0.6pp	-0.1%+0.3pp	-0.3%-1.3pp	0.9%+0.7pp	0.3%
Return on Assets	1.1%+4.2pp	-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%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.800.0	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
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%.

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 return on equity (ROE)?

Alexandria Real Estate Eq 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 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 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 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.

How financially healthy is Alexandria Real Estate Eq Inc?

Alexandria Real Estate Eq Inc (ARE) scores 42 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.