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Alexandria Real Estate Equities Inc (ARE) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

REAL ESTATE · Office REITs · DATA UPDATED 2026-09-19

Alexandria Real Estate Equities Inc (ARE) operates in the Office REITs industry and is headquartered in Pasadena, United States with about 514 employees. Its market capitalization is roughly $9 billion. In the fiscal year ended 2025-12-31, ARE reported $3.0B in revenue and ($1.4B) in net income.

Alexandria Real Estate Equities, Inc., an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. With our founding in 1994, Alexandria pioneered the life science real estate niche.

Interactive charts & full statements → Open the ARE valuation workbench →

ARE Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$2.8B	$3.0B	$3.0B	$2.8B	$2.6B	$2.1B	$1.9B	$1.5B	$1.3B	$1.1B	$898M	$820M	$727M	$631M	$586M	$510M	$487M	$491M	($79M)	$317M	$245M
Gross Profit	$1.9B	$2.0B	$2.1B	$2.0B	$1.8B	$1.5B	$1.4B	$1.1B	$946M	$799M	$619M	$558M	$508M	$442M	$412M	$341M	$355M	$371M	($193M)	$218M	$245M
Gross Margin %	67.8%	68.9%	70.2%	69.8%	69.6%	70.5%	71.9%	70.9%	71.3%	71.0%	69.0%	68.1%	69.8%	70.0%	70.2%	66.9%	72.9%	75.5%	245.4%	68.7%	100.0%
Operating Income (EBIT)	($1.3B)	($1.2B)	$770M	$690M	$613M	$530M	$532M	$443M	$422M	$181M	$41M	$137M	$181M	$131M	$103M	$195M	$205M	$216M	$202M	$182M	$145M
Operating Margin %	-45.7%	-40.5%	25.2%	24.3%	23.8%	25.1%	28.2%	28.9%	31.8%	16.1%	4.6%	16.7%	24.9%	20.8%	17.6%	38.2%	42.0%	43.9%	-255.9%	57.5%	59.0%
Net Income	($990M)	($1.4B)	$323M	$104M	$522M	$571M	$771M	$363M	$379M	$169M	($66M)	$144M	$102M	$136M	$102M	$131M	$135M	$135M	$116M	$94M	$73M
Net Margin %	-35.3%	-48.1%	10.6%	3.6%	20.2%	27.0%	40.9%	23.7%	28.6%	15.0%	-7.3%	17.6%	14.0%	21.6%	17.4%	25.8%	27.8%	27.4%	-147.6%	29.6%	29.9%
EBITDA	—	$360M	$1.9B	$1.4B	$1.8B	$1.4B	$1.2B	$987M	$900M	$611M	$264M	$407M	$323M	$324M	$290M	$294M	$206M	$323M	$312M	$275M	$223M
Earnings Per Share (EPS)	$-6.04	$-8.40	$1.88	$0.61	$3.23	$3.87	$6.10	$3.23	$3.67	$1.84	$-0.87	$2.02	$1.43	$2.00	$1.64	$2.22	$2.80	$3.49	$3.64	$3.12	$2.88
Shares Outstanding (M)	—	170M	172M	171M	162M	147M	126M	113M	103M	92M	76M	72M	71M	68M	62M	59M	48M	39M	32M	30M	25M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ARE Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$643M	$671M	$754M	$736M	$737M	$743M	$763M	$776M	$755M
Gross Profit	$436M	$447M	$522M	$497M	$513M	$517M	$523M	$542M	$538M
Gross Margin %	67.8%	66.6%	69.2%	67.5%	69.6%	69.5%	68.5%	69.9%	71.2%
Operating Income (EBIT)	$95M	$107M	($1.6B)	$127M	$138M	$144M	$160M	$205M	$203M
Operating Margin %	14.8%	15.9%	-213.5%	17.3%	18.7%	19.4%	21.0%	26.4%	26.8%
Net Income	($73M)	$398M	($1.1B)	($233M)	($107M)	($9M)	($62M)	$168M	$47M
Net Margin %	-11.3%	59.4%	-143.4%	-31.6%	-14.5%	-1.2%	-8.2%	21.6%	6.2%
EBITDA	—	$477M	($608M)	$197M	$339M	$432M	$370M	$551M	$431M
Earnings Per Share (EPS)	$-0.43	$2.11	$-6.35	$-1.37	$-0.63	$-0.05	$-0.36	$0.98	$0.27
Shares Outstanding (M)	—	188M	170M	170M	170M	171M	172M	172M	172M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ARE Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$1.3B	$1.4B	$1.5B	$1.6B	$1.3B	$1.0B	$883M	$684M	$570M	$450M	$393M	$343M	$334M	$313M	$306M	$247M	$219M	$206M	$233M	$185M	$128M
Capital Expenditures (CapEx)	—	$1.9B	$2.7B	$2.5B	$6.2B	$7.3B	$3.3B	$3.5B	$1.9B	$1.6B	$1.4B	$683M	$544M	$561M	$555M	$735M	$717M	$446M	$549M	$950M	$978M
Free Cash Flow (FCF)	($2.1B)	($457M)	($1.2B)	($858M)	($4.9B)	($6.3B)	($2.4B)	($2.8B)	($1.4B)	($1.1B)	($1.0B)	($341M)	($210M)	($249M)	($249M)	($488M)	($498M)	($240M)	($316M)	($765M)	($850M)
FCF Margin %	-76.0%	-15.4%	-38.3%	-30.2%	-189.9%	-299.1%	-126.6%	-182.4%	-103.5%	-98.1%	-116.3%	-41.6%	-28.9%	-39.4%	-42.6%	-95.7%	-102.2%	-48.9%	401.1%	-241.2%	-346.3%
Dividends Paid	—	$911M	$899M	$847M	$758M	$656M	$533M	$451M	$386M	$322M	$263M	$243M	$228M	$195M	$154M	$137M	$100M	$119M	$126M	$103M	$88M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ARE Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$337M	$197M	$312M	$433M	$460M	$208M	$274M	$477M	$412M
Capital Expenditures (CapEx)	—	$0M	$1.9B	$1.5B	$1.1B	$646M	$2.7B	$2.1B	$0M
Free Cash Flow (FCF)	$337M	$197M	($1.6B)	($1.1B)	($621M)	($438M)	($2.4B)	($1.7B)	$412M
FCF Margin %	52.4%	29.3%	-206.6%	-150.2%	-84.2%	-58.9%	-314.1%	-213.5%	54.5%
Dividends Paid	—	$124M	$227M	$227M	$227M	$230M	$227M	$227M	$222M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

ARE Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$34.6B	$34.1B	$37.5B	$36.8B	$35.5B	$30.2B	$22.8B	$18.4B	$14.5B	$12.1B	$10.4B	$8.9B	$8.1B	$7.5B	$7.2B	$6.6B	$5.9B	$5.5B	$5.1B	$4.6B	$3.6B
Cash & Cash Equivalents	$470M	$549M	$552M	$618M	$825M	$361M	$569M	$190M	$234M	$254M	$125M	$125M	$86M	$58M	$141M	$79M	$91M	$71M	$71M	$8M	$3M
Total Liabilities	$15.5B	$14.9B	$15.1B	$14.1B	$12.8B	$11.2B	$9.4B	$8.2B	$6.6B	$5.6B	$5.0B	$4.6B	$4.2B	$3.6B	$3.6B	$3.1B	$2.9B	$3.1B	$3.4B	$3.1B	$2.2B
Total Debt (Short + Long-Term)	$13.2B	$12.4B	$12.2B	$11.3B	$10.5B	$8.8B	$7.6B	$6.8B	$5.5B	$4.8B	$4.2B	$4.0B	$956M	$913M	$1.3B	$2.8B	$2.6B	$2.7B	$4.3B	$2.6B	$2.0B
Total Shareholders' Equity	$15.6B	$15.5B	$17.9B	$18.5B	$22.7B	$19.0B	$11.7B	$8.9B	$7.3B	$6.0B	$4.9B	$4.0B	$3.8B	$3.9B	$3.4B	$3.4B	$2.9B	$2.3B	$1.7B	$1.5B	$1.4B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive ARE viewer.

ARE Metric Deep Dives

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