Safehold Inc. (SAFE) Stock Analysis
Real Estate · REIT - Diversified · NYSE
Safehold Inc. (SAFE) posted $385.55M in revenue for fiscal 2025 (up 5.4% year over year), at a 29.7% net margin, and has compounded revenue about 3.5%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Safehold Inc.
Safehold Inc. has grown revenue from $455.19M to $385.55M over the last 10 fiscal years, compounding about 3.5% a year. The most recent year was up 5.4%, so growth is actually accelerating.
Net margin sits at 29.7%, up 0.8 points year over year on a 98.8% gross margin. It carries about $4.59B of total debt.
The one thing worth a second look in the filings is reported earnings run ahead of cash.
Synthesised from Safehold Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Safehold Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $455.19M | $679.20M | $798.12M | $273.70M | $324.10M | $187.01M | $270.31M | $352.58M | $365.69M | $385.55M |
| Gross profit | — | — | — | — | — | $184.35M | $267.20M | $347.93M | $361.46M | $380.79M |
| Net income | $95.31M | $175.68M | $-32.26M | $324.04M | $-42.44M | $73.12M | $135.42M | $-54.97M | $105.76M | $114.47M |
| Net margin | 20.9% | 25.9% | -4.0% | 118.4% | -13.1% | 39.1% | 50.1% | -15.6% | 28.9% | 29.7% |
Source: Safehold Inc. SEC filings (10-K). 17 years of history available in the interactive view.
Safehold Inc.: 3 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Reported earnings run ahead of cashOver 3 years net income totalled $165.3M but operating cash flow only $101.1M — earnings aren't fully backed by cash, an accruals flag worth investigating.
- Heavy debt loadTotal debt of $4585.9M is 95.9× last year's operating cash flow — it would take years of cash flow to clear.
- Net margin shrinkingNet margin fell from 50.1% to 29.7% over ~3 years — profitability is compressing.
Explore 17 years of Safehold Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Safehold Inc. financial history by metric
Compare Safehold Inc. with peers
About Safehold Inc.
Safehold Inc. is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, affordable housing, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Safehold Inc. was incorporated in 2016 and is based in New York, United States.
Safehold Inc. — frequently asked questions
What is Safehold Inc.'s revenue?
Safehold Inc. (SAFE) reported revenue of $385.55M for fiscal year 2025, up 5.4% from the prior year, according to its SEC filings.
Is Safehold Inc. profitable?
Yes. SAFE earned net income of $114.47M in fiscal 2025, a net margin of 29.7%.
What is SAFE's P/E ratio?
Safehold Inc. trades at a price-to-earnings ratio of about 10.0 based on the latest data in our nightly-refreshed cache.
How fast is Safehold Inc. growing?
SAFE's revenue grew at roughly 3.5% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Safehold Inc. have?
As of fiscal year 2025, SAFE carried roughly $4.59B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Safehold Inc.'s gross margin?
SAFE's gross margin was 98.8% in fiscal 2025 — gross profit of $380.79M on revenue of $385.55M.
What is Safehold Inc.'s market cap?
Safehold Inc. (SAFE) has a market capitalization of about $1.13B, based on the latest data in our nightly-refreshed cache.
When does Safehold Inc.'s fiscal year end?
SAFE's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
Where does this data come from?
All figures are computed from Safehold Inc.'s official SEC filings (10-K and 10-Q), covering 17 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.