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Safehold Inc (SAFE) Financial History

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

REAL ESTATE · REIT - DIVERSIFIED · DATA UPDATED 2026-09-17

Safehold Inc (SAFE) operates in the REIT - DIVERSIFIED industry and is headquartered in New York, United States with about 72 employees. Its market capitalization is roughly $931 million. In the fiscal year ended 2025-12-31, SAFE reported $386M in revenue and $114M in net income.

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.

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

SAFE 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	$413M	$386M	$366M	$353M	$270M	$187M	$159M	$93M	$50M	$679M	$22M	$19M	$462M	$391M	$400M	$88M	$543M	$960M	$287M	$827M	$563M
Gross Profit	$390M	$364M	$361M	$348M	$267M	$184M	$156M	$91M	$48M	$156M	$21M	$18M	$61M	($33M)	($106M)	$88M	$543M	$960M	$287M	$827M	$563M
Gross Margin %	94.3%	94.3%	98.8%	98.7%	98.9%	98.6%	98.4%	97.1%	96.8%	23.0%	96.0%	98.8%	13.3%	-8.4%	-26.6%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Operating Income (EBIT)	$205M	$308M	$87M	($77M)	$136M	$65M	$56M	$36M	$12M	$7M	$15M	$6M	($39M)	($156M)	($287M)	$218M	$51M	($604M)	$331M	$239M	$375M
Operating Margin %	49.7%	79.8%	23.8%	-21.9%	50.2%	35.0%	35.4%	38.7%	24.0%	1.0%	68.3%	30.8%	-8.5%	-39.9%	-71.6%	247.8%	9.3%	-62.9%	115.2%	28.9%	66.6%
Net Income	$116M	$114M	$106M	($55M)	$135M	$73M	$59M	$28M	$12M	$176M	$7M	$5M	$1M	($112M)	($240M)	($22M)	$80M	($769M)	($197M)	$239M	$375M
Net Margin %	28.1%	29.7%	28.9%	-15.6%	50.1%	39.1%	37.4%	29.6%	23.6%	25.9%	30.4%	28.8%	0.2%	-28.6%	-59.9%	-25.1%	14.7%	-80.1%	-68.5%	28.9%	66.6%
EBITDA	$338M	$333M	$320M	$140M	$286M	$165M	$136M	$75M	$39M	$17M	$18M	$16M	$34M	($136M)	($283M)	($169M)	($277M)	($1.1B)	($523M)	$131M	$852M
Earnings Per Share (EPS)	$1.62	$1.59	$1.48	$-0.82	$10.49	$6.36	$4.90	$2.15	$0.64	$15.46	$0.36	$0.29	$0.06	$-8.23	$-17.91	$-1.55	$5.34	$-48.01	$-9.38	$11.69	$20.16
Shares Outstanding (M)	72M	72M	71M	67M	13M	11M	12M	13M	18M	11M	18M	18M	14M	14M	13M	14M	15M	16M	21M	20M	19M

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

SAFE 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
Total Revenue	$115M	$105M	$98M	$96M	$94M	$98M	$92M	$91M
Gross Profit	$100M	$103M	$92M	$95M	$93M	$97M	$91M	$90M
Gross Margin %	87.2%	98.2%	94.3%	98.6%	99.1%	98.8%	98.9%	98.9%
Operating Income (EBIT)	$28M	$73M	$79M	$25M	$24M	$25M	$23M	$16M
Operating Margin %	24.6%	69.7%	81.0%	25.9%	25.5%	25.9%	24.6%	17.5%
Net Income	$30M	$29M	$28M	$29M	$28M	$29M	$26M	$19M
Net Margin %	26.3%	27.6%	28.5%	30.4%	29.8%	30.1%	28.3%	21.3%
EBITDA	$86M	$85M	$84M	$84M	$83M	$83M	$81M	$74M
Earnings Per Share (EPS)	$0.42	$0.40	$0.39	$0.41	$0.39	$0.41	$0.36	$0.27
Shares Outstanding (M)	72M	72M	72M	72M	72M	72M	71M	72M

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

SAFE 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)	$37M	$48M	$38M	$15M	$48M	$27M	$36M	($2M)	($24M)	$80M	$5M	$5M	($10M)	($180M)	($192M)	($32M)	($47M)	$76M	$419M	$561M	$434M
Capital Expenditures (CapEx)	$0M	$0M	$0M	$7M	$23M	$1.2B	$57M	$1.4B	$189M	$158M	$174M	$170M	$143M	$212M	$83M	$64M	$43M	$21M	$103M	$45M	$0M
Free Cash Flow (FCF)	$37M	$48M	$38M	$8M	$25M	($1.2B)	($21M)	($1.4B)	($213M)	($78M)	($168M)	($165M)	($153M)	($392M)	($275M)	($96M)	($90M)	$56M	$316M	$517M	$434M
FCF Margin %	8.9%	12.4%	10.3%	2.3%	9.1%	-652.9%	-13.3%	-1461.0%	-428.7%	-11.5%	-773.3%	-887.3%	-33.1%	-100.4%	-68.7%	-109.0%	-16.6%	5.8%	109.8%	62.4%	77.2%
Dividends Paid	$51M	$51M	$51M	$46M	$54M	$36M	$32M	$17M	$11M	$48M	$51M	$51M	$51M	$49M	$42M	$42M	$42M	$42M	$318M	$477M	$412M

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

SAFE 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
Cash from Operations (CFO)	$35M	($9M)	$12M	($1M)	$28M	$9M	$8M	$8M
Free Cash Flow (FCF)	$35M	($9M)	$12M	($1M)	$28M	$9M	$8M	$8M
FCF Margin %	30.2%	-8.2%	12.6%	-1.5%	29.8%	9.1%	8.6%	9.1%
Dividends Paid	$13M	$13M	$13M	$13M	$13M	$13M	$13M	$13M

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

SAFE 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	$7.5B	$7.2B	$6.9B	$6.5B	$3.3B	$4.5B	$3.2B	$2.6B	$980M	$729M	$156M	$144M	$5.4B	$5.6B	$6.2B	$7.5B	$9.2B	$12.8B	$15.3B	$15.8B	$11.1B
Cash & Cash Equivalents	$16M	$22M	$8M	$19M	$1.4B	$30M	$57M	$23M	$16M	$168M	$329M	$0M	$472M	$514M	$256M	$357M	$505M	$225M	$497M	$105M	$106M
Total Liabilities	$4.9B	$4.8B	$4.5B	$4.3B	$1.8B	$2.8B	$1.8B	$1.5B	$622M	$373M	$2M	$0M	$4.2B	$4.3B	$4.8B	$5.9B	$7.5B	$10.9B	$12.5B	$12.9B	$8.0B
Total Debt (Short + Long-Term)	$4.6B	$4.5B	$4.2B	$4.0B	$4.8B	$4.0B	$1.7B	$1.4B	$919M	$806M	$3.5B	$0M	$0M	$22M	$545M	$1.6B	$2.6B	$0M	$0M	$2.0B	$430M
Total Shareholders' Equity	$2.4B	$2.4B	$2.3B	$2.2B	$1.4B	$1.7B	$1.4B	$1.1B	$357M	$356M	$154M	$144M	$1.2B	$1.2B	$1.2B	$1.5B	$1.6B	$1.6B	$2.4B	$2.9B	$3.0B

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 SAFE viewer.

Other Companies in REIT - DIVERSIFIED

WPC · W P Carey Inc — $15 billion
GNL · Global Net Lease, Inc. — $2 billion
AAT · American Assets Trust Inc — $2 billion
ESRT · Empire State Realty Trust Inc — $1 billion
JBGS · JBG SMITH Properties — $867 million
CTO · CTO Realty Growth Inc — $781 million

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