NYSE · Financial Statements

Alexandria Real Estate Equities, Inc. (ARE) Financial Statements

$43.02 NYSE: ARE Market Cap $7.50B

Alexandria Real Estate Equities, Inc. most recently reported annual revenue of $3.0B, a net loss of $1.4B. Revenue grew at an average annual rate of 9.4% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Alexandria Real Estate Equities, Inc.: Revenue rose from $898.0M in 2016 to $3.0B in 2025, a change of +230.8% over 9 years; net profit was positive in 8 of 10 reported years; operating margin moved from 4.6% to -40.5%, a shift of -45.0 percentage points; the most recent year shows a net loss of $1.4B.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$898.0M$1.1B$1.3B$1.5B$1.9B$2.1B$2.6B$2.8B$3.0B$3.0B
Operating Expenses$857.0M$944.0M$905.0M$1.1B$664.0M$1.6B$2.0B$2.2B$2.3B$4.2B
Operating Profit$41.0M$181.0M$422.0M$418.0M$1.2B$512.0M$613.0M$690.0M$770.0M$-1.2B
Operating Margin4.6%16.1%31.8%27.6%65.0%24.3%23.8%24.3%25.2%-40.5%
Other Income$-316.0M$-535.0M$-461.0M$-14.0M$-403.0M$142.0M$57.0M$-409.0M$-259.0M$-14.0M
Interest$107.0M$129.0M$157.0M$174.0M$172.0M$142.0M$94.0M$74.0M$186.0M$227.0M
Depreciation$656.0M$888.0M$941.0M$545.0M$641.0M$821.0M$1.0B$1.1B$1.2B$1.4B
Profit Before Tax$-50.0M$194.0M$403.0M$404.0M$827.0M$654.0M$671.0M$281.0M$511.0M$-1.2B
Tax$-32.3M$12.9M$-28.4M$0$0$0$0$0$0$0
Net Profit$-66.0M$169.0M$517.0M$363.0M$771.0M$571.0M$522.0M$104.0M$323.0M$-1.4B
EPS$-0.87$1.58$5.01$1.59$4.67$3.82$3.18$0.54$1.80$-8.44
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$708.0M$743.0M$756.0M$755.0M$776.0M$763.0M$743.0M$737.0M$736.0M$754.0M$671.0M$796.0M
Operating Expenses$533.0M$567.0M$553.0M$553.0M$571.0M$603.0M$599.0M$600.0M$609.0M$2.4B$564.0M$771.0M
Operating Profit$174.0M$175.0M$203.0M$203.0M$205.0M$160.0M$144.0M$138.0M$127.0M$-1.6B$107.0M$25.0M
Operating Margin24.7%23.6%26.8%26.8%26.4%21.0%19.4%18.7%17.3%-213.6%15.9%3.1%
Interest$11.0M$32.0M$41.0M$46.0M$44.0M$56.0M$51.0M$55.0M$55.0M$66.0M$65.0M$64.0M
Profit Before Tax$68.0M$-43.0M$219.0M$94.0M$214.0M$-16.0M$39.0M$-62.0M$-198.0M$-995.0M$171.0M$55.0M
Tax$0$0$0$0$0$0$0$0$0$0$0$16.4M
Net Profit$24.0M$-88.0M$171.0M$47.0M$168.0M$-62.0M$-9.0M$-107.0M$-233.0M$-1.1B$398.0M$12.0M
EPS$0.13$-0.54$0.97$0.25$0.96$-0.38$-0.07$-0.64$-1.38$-6.35$2.10$0.07

Over the 10 years reported for Alexandria Real Estate Equities, Inc., borrowings increased from $4.2B in 2016 to $12.8B in 2025, cash stood at $549.0M in the latest year, shareholders' equity was $2.0M, current assets covered current liabilities 0.43 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$10.4B$12.1B$14.5B$18.4B$22.8B$30.2B$35.5B$36.8B$37.5B$34.1B
Current Assets$202.0M$348.0M$348.0M$336.0M$728.0M$707.0M$974.0M$782.0M$784.0M$940.0M
Cash$125.0M$254.0M$234.0M$190.0M$569.0M$361.0M$825.0M$618.0M$552.0M$549.0M
Inventory$0$0$0$0$0$0$0$0$0$0
Receivables$48.0M$49.0M$49.0M$51.0M$49.0M$91.0M$67.0M$64.0M$168.0M$324.0M
Fixed Assets$96.0M$108.0M$229.0M$744.0M$983.0M$1.3B$1.3B$1.1B$1.3B$1.1B
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$393.0M$634.0M$1.1B$1.5B$1.9B$1.9B$1.7B$1.5B$1.5B$1.5B
Other Assets$0$0$0$0$0$0$0$0$0$0
Total Liabilities$5.0B$5.6B$6.6B$8.2B$9.4B$11.2B$12.8B$14.1B$15.1B$14.9B
Current Liabilities$703.0M$741.0M$1.1B$1.3B$1.1B$1.7B$1.7B$2.0B$2.0B$2.2B
Borrowings$4.2B$4.9B$5.5B$7.0B$7.9B$9.2B$10.6B$11.7B$12.8B$12.8B
Other Liabilities$749.0M$768.0M$1.1B$1.2B$1.5B$2.0B$2.3B$2.5B$2.4B$2.2B
Equity$1.0M$1.0M$1.0M$1.0M$1.0M$2.0M$2.0M$2.0M$2.0M$2.0M
Reserves$4.9B$6.0B$7.3B$8.9B$11.7B$16.2B$19.0B$18.5B$17.9B$15.5B

For Alexandria Real Estate Equities, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was $1.4B; free cash flow was positive in 6 of 10 years; financing activities used $1.0B in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$393.0M$450.0M$570.0M$684.0M$883.0M$1.0B$1.3B$1.6B$1.5B$1.4B
Investing Cash Flow$-2.9B$-3.3B$-4.1B$-3.6B$-3.3B$-14.4B$-5.1B$-2.5B$-1.5B$362.0M
Financing Cash Flow$-82.0M$-136.0M$-37.0M$880.0M$171.0M$1.8B$1.3B$262.0M$-151.0M$-1.0B
Net Cash Flow$0$129.0M$-5.0M$-29.0M$355.0M$-182.0M$443.0M$-197.0M$-101.0M$-6.0M
Free Cash Flow$-1.0B$-1.1B$-1.4B$684.0M$883.0M$-6.3B$1.3B$1.6B$1.5B$1.4B

Valuation & Return Ratios

MetricValue
PEG Ratio0.00
EV / EBITDA49.44
FCF Yield10.07%
Quick Ratio0.11
Interest Coverage-5.42
Return 1Y-39.14%
Return 3Y-44.78%
Return 5Y-70.34%

Alexandria Real Estate Equities, Inc. (ARE) financials — frequently asked questions

What is Alexandria Real Estate Equities, Inc.'s annual revenue?

Alexandria Real Estate Equities, Inc. (ARE) reported annual revenue of $3.0B in its most recent fiscal year.

What is Alexandria Real Estate Equities, Inc.'s net profit?

Alexandria Real Estate Equities, Inc. (ARE) reported a net loss of $1.4B in its most recent fiscal year.

What is ARE EV/EBITDA?

Alexandria Real Estate Equities, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 49.44.

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