Alexandria Real Estate Equities

Real Estate Office REITs Pasadena, California Last filing Jan 26, 2026 · FY2025

                    Revenue
                    FY2025
                
$2.9B
                    3y CAGR +4.5%
                    
                    P27
                    
                    n/a
                    
                    Net income
                    FY2025
                
$-1.4B
                    Net margin -49.4%
                    
                    P3
                    
                    n/a
                    
                    Total assets
                    FY2025
                
$34.1B
                    ROA -4.2%
                    
                    P3
                    
                    n/a
                    
                    Operating cash flow
                    FY2025
                
$1.4B
                    
                    n/a

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

20 accounts · 1 year

Total assets $34.1B

Total liabilities $14.9B

Shareholders equity $15.5B

Account	2025	Trend
Assets
Cash and Cash Equivalents	19.0%
Accounts Receivable	0.2%
Prepaid Expenses	1.2%
Other Current Assets	57.4%
Property,Plant and Equipment	2.4%
Operating Lease Assets	24.1%
Long Term Investments	12.3%
Other Noncurrent Assets	57.4%
Total Assets	1177.6%
Liabilities
Operating Lease Liabilities	12.5%
Total Current Liabilities	515.7%
Long Term Debt	1.4%
Operating Lease Liabilities Noncurrent	12.5%
Total Liabilities	515.7%
Equity
Common Stock	0.1%
Additional Paid In Capital	535.5%
Accumulated Other Comprehensive Income	-1.0%
Noncontrolling Interest	125.3%
Total Stockholders Equity	534.5%
Total Liabilitiesand Equity	1177.6%

Income Statement

Revenue, expense, and profitability

15 accounts · 1 year

Revenue $2.9B

Operating income $2.9B

Net income $-1.4B

Account	2025	Trend
IncomeStatement
Revenues Total Revenue	100.0%
Expenses Cost of Revenue	166.5%
Expenses Selling,General and Administrative	4.0%
Expenses Depreciation and Amortization	46.7%
Expenses Share Based Compensation	1.4%
Expenses Operating Expenses	166.5%
Other Income Expense Operating Income	99.8%
Other Income Expense Interest Expense	7.8%
Other Income Expense Other Income/expense	-1.9%
net Income net Income	-49.4%
net Income Comprehensive Income	-48.8%
Earnings Per Share Basic Eps	-0.0%
Earnings Per Share Diluted Eps	-0.0%
Earnings Per Share Weighted Average Shares Basic	5.9%
Earnings Per Share Weighted Average Shares Diluted	5.9%

Cash Flow Statement

Operating, investing, and financing flows

19 accounts · 1 year

Operating cash flow $1.4B

Investing cash flow $362.1M

Financing cash flow $-1.8B

Account	2025	Trend
CashFlow
Operating Activities net Income	-49.4%
Operating Activities Depreciation and Amortization	46.7%
Operating Activities Stock Based Compensation	1.4%
Operating Activities Changes In Operating Assets and Liabilities	-4.1%
Operating Activities net Cash From Operating Activities	48.9%
Investing Activities Purchases of Investments	8.2%
Investing Activities Other Investing Activities	0.3%
Investing Activities net Cash From Investing Activities	12.5%
Financing Activities Proceeds From Debt	19.0%
Financing Activities Repayment of Debt	5.3%
Financing Activities Repurchase of Common Stock	7.2%
Financing Activities Dividends Paid	31.5%
Financing Activities Proceeds From Stock Issuance	0.0%
Financing Activities Tax Withholding On Stock Based Compensation	0.8%
Financing Activities net Cash From Financing Activities	-61.6%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%
Cash Reconciliation net Change In Cash	-0.2%
Cash Reconciliation Cash At Beginning of Period	19.1%
Cash Reconciliation Cash At End of Period	19.1%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 1 year

Ratio	2025
Profitability
Gross margin	-66.5%
Operating margin	+99.8%
Net margin	-49.4%
FCF margin	—
Growth
Revenue CAGR (3y)	+4.5%
Returns
ROE	-9.2%
ROA	-4.2%
ROIC	+19.3%
Liquidity
Current ratio	—
Quick ratio	0.04x
Leverage
D/E	0.96x
Interest coverage	12.75x
Efficiency
Asset turnover	0.08x
Cash conversion cycle	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

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Alexandria Real Estate Equities

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Margins, returns, liquidity, leverage, efficiency

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