SAFE
Safehold Inc
NYSE: SAFE · REAL ESTATE · REIT - DIVERSIFIED
$16.02
+1.33% today
Updated 2026-04-30
Market cap
$1.15B
P/E ratio
10.06
P/S ratio
2.84x
EPS (TTM)
$1.59
Dividend yield
4.50%
52W range
$12 – $17
Volume
0.3M
Safehold Inc (SAFE) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $562.78M | $827.48M | $287.38M | $959.52M | $542.64M | $88.00M | $400.47M | $390.79M | $462.03M | $18.57M | $21.74M | $679.20M | $49.72M | $93.40M | $158.73M | $187.01M | $270.31M | $352.58M | $365.69M | $385.55M |
| Revenue growth (YoY) | — | +47.0% | -65.3% | +233.9% | -43.4% | -83.8% | +355.1% | -2.4% | +18.2% | -96.0% | +17.1% | +3023.8% | -92.7% | +87.8% | +70.0% | +17.8% | +44.5% | +30.4% | +3.7% | +5.4% |
| Cost of revenue | — | — | — | — | — | — | $506.92M | $423.67M | $400.71M | $217000.00 | $861000.00 | $523.22M | $1.60M | $2.67M | $2.48M | $2.66M | $3.11M | $4.65M | $4.22M | $21.85M |
| Gross profit | $562.78M | $827.48M | $287.38M | $959.52M | $542.64M | $88.00M | $-106.45M | $-32.88M | $61.32M | $18.35M | $20.88M | $155.98M | $48.12M | $90.72M | $156.25M | $184.35M | $267.20M | $347.93M | $361.46M | $363.70M |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | -26.6% | -8.4% | 13.3% | 98.8% | 96.0% | 23.0% | 96.8% | 97.1% | 98.4% | 98.6% | 98.8% | 98.7% | 98.8% | 94.3% |
| R&D | — | — | — | — | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.00 | $0.00 | — | — |
| SG&A | $96.43M | $165.18M | $159.10M | $127.04M | $109.53M | $200.76M | $80.86M | $92.11M | $88.81M | $2.26M | $2.88M | $98.88M | $10.66M | $14.44M | $22.73M | $28.75M | $38.61M | $65.44M | $54.92M | $54.34M |
| Operating income | $374.83M | $238.96M | $331.02M | $-603.74M | $50.66M | $218.09M | $-286.80M | $-155.97M | $-39.34M | $5.72M | $14.86M | $6.62M | $11.94M | $36.14M | $56.18M | $65.46M | $135.63M | $-77.08M | $87.08M | $307.58M |
| Operating margin | 66.6% | 28.9% | 115.2% | -62.9% | 9.3% | 247.8% | -71.6% | -39.9% | -8.5% | 30.8% | 68.3% | 1.0% | 24.0% | 38.7% | 35.4% | 35.0% | 50.2% | -21.9% | 23.8% | 79.8% |
| EBITDA | $851.87M | $130.97M | $-523.12M | $-1.05B | $-277.06M | $-168.93M | $-282.88M | $-135.53M | $34.23M | $16.12M | $18.01M | $16.57M | $38.98M | $75.48M | $135.92M | $165.05M | $285.57M | $140.41M | $320.36M | $332.80M |
| EBITDA margin | 151.4% | 15.8% | -182.0% | -109.9% | -51.1% | -192.0% | -70.6% | -34.7% | 7.4% | 86.8% | 82.8% | 2.4% | 78.4% | 80.8% | 85.6% | 88.3% | 105.6% | 39.8% | 87.6% | 86.3% |
| EBIT | $818.09M | $238.96M | $-620.49M | $-1.15B | $-340.31M | $-232.86M | $-352.23M | $-206.79M | $-39.34M | $12.65M | $-310.57M | $-475.00M | $-624.30M | $63.60M | $123.84M | $153.06M | $273.65M | $128.16M | $308.10M | $324.25M |
| Interest expense | $429.81M | $627.72M | $660.28M | $481.12M | $315.99M | $344.79M | $355.10M | $266.23M | $224.48M | $7.23M | $8.24M | $194.69M | $15.39M | $29.87M | $64.35M | $79.71M | $128.97M | $181.01M | $198.04M | $206.69M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $374.83M | $238.96M | $-196.79M | $-768.78M | $79.68M | $-22.06M | $-239.93M | $-111.95M | $873000.00 | $5.35M | $6.62M | $175.68M | $11.74M | $27.69M | $59.29M | $73.12M | $135.42M | $-54.97M | $105.76M | $114.47M |
| Net income growth (YoY) | — | -36.2% | -182.4% | -290.7% | +110.4% | -127.7% | -987.4% | +53.3% | +100.8% | +512.7% | +23.7% | +2555.8% | -93.3% | +135.9% | +114.1% | +23.3% | +85.2% | -140.6% | +292.4% | +8.2% |
| Profit margin | 66.6% | 28.9% | -68.5% | -80.1% | 14.7% | -25.1% | -59.9% | -28.6% | 0.2% | 28.8% | 30.4% | 25.9% | 23.6% | 29.7% | 37.4% | 39.1% | 50.1% | -15.6% | 28.9% | 29.7% |