Alexandria Real Estate Equities, Inc.
Real EstateNYSE:ARE · New York Stock Exchange
+$0.40 today
Vol 1.00M · Avg 2.34M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$2.9B of revenue converted into -$1.0B of net income for the selected period. Gross margin is 68.2% and net margin is -32.5%, showing how much revenue survives after costs and taxes. EPS is $-6.27, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.0B -2.6% | $3.0B +7.3% | $2.8B +10.3% | $2.6B +22.2% | $2.1B | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $922.6M +1.5% | $909.3M +5.8% | $859.2M +9.7% | $783.2M +25.6% | $623.6M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $2.0B -4.3% | $2.1B +7.9% | $2.0B +10.6% | $1.8B +20.8% | $1.5B | $8.9B | $7.6B | $6.2B |
| Gross Margin | 68.9% -1.2pp | 70.2% +0.4pp | 69.8% +0.2pp | 69.6% -0.8pp | 70.4% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $117.0M -30.5% | $168.4M -15.5% | $199.4M +12.5% | $177.3M +17.0% | $151.5M | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $3.3B +137.1% | $1.4B +6.0% | $1.3B +9.6% | $1.2B +21.3% | $972.5M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $1.4B +12.3% | $1.2B +10.0% | $1.1B +9.1% | $1.0B +22.1% | $821.1M | $374.2M | $1.2B | $631.8M |
| EBITDA | $360.4M -81.0% | $1.9B +31.1% | $1.4B -18.0% | $1.8B +9.2% | $1.6B | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 12.1% -50.1pp | 62.3% +11.3pp | 51.0% -17.6pp | 68.6% -8.1pp | 76.7% | 5.6% | 46.3% | 42.0% |
| Operating Income | -$1.2B -256.2% | $769.7M +11.5% | $690.4M +12.5% | $613.5M +19.8% | $512.2M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | -40.5% -65.7pp | 25.2% +0.9pp | 24.3% +0.5pp | 23.8% -0.5pp | 24.3% | 16.6% | 24.1% | 22.0% |
| Interest Income | $0 | $0 | $0 | $0 | $0 | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $226.7M +22.0% | $185.8M +150.4% | $74.2M -21.2% | $94.2M -33.7% | $142.2M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$14.5M +94.4% | -$259.0M +36.8% | -$409.5M -815.4% | $57.2M -59.7% | $142.1M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | -$1.2B -338.2% | $510.7M +81.8% | $281.0M -58.1% | $670.7M +2.5% | $654.3M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | -41.0% -57.7pp | 16.7% +6.9pp | 9.9% -16.2pp | 26.0% -5.0pp | 31.0% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $1.3B | -$1.6B | $745.2M |
| Net Income | -$1.4B -543.0% | $322.9M +211.6% | $103.6M -80.1% | $521.7M -8.7% | $571.2M | $4.9B | $4.8B | $4.7B |
| Net Margin | -48.2% -58.7pp | 10.6% +6.9pp | 3.6% -16.6pp | 20.3% -6.8pp | 27.1% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | -$8 -568.9% | $2 +233.3% | $1 -83.0% | $3 -17.0% | $4 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | -$8 -568.9% | $2 +233.3% | $1 -83.0% | $3 -16.8% | $4 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $170.4M -1.0% | $172.1M +0.7% | $170.9M +5.7% | $161.7M +10.0% | $146.9M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $170.4M -1.0% | $172.1M +0.7% | $170.9M +5.7% | $161.7M +9.6% | $147.5M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
AvalonBay Communities, Inc.
NYSE:AVB
$26.53B
Essex Property Trust, Inc.
NYSE:ESS
$18.23B
Mid-America Apartment Communities, Inc.
NYSE:MAA
$16.17B
Regency Centers Corporation
NASDAQ:REG
$14.70B
BXP, Inc.
NYSE:BXP
$10.57B
Vornado Realty Trust
NYSE:VNO
$7.20B
Kilroy Realty Corporation
NYSE:KRC
$4.46B
SL Green Realty Corp.
NYSE:SLG
$3.64B
Highwoods Properties, Inc.
NYSE:HIW
$3.29B
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does ARE generate?
Alexandria Real Estate Equities, Inc. (ARE) reported $2.97B of revenue in fiscal 2025.
Is ARE profitable?
Alexandria Real Estate Equities, Inc. (ARE) reported -$1,430,535,000.00 of net income, with a net margin of -48.2%.
Explore More
Continue the stock analysis
Jump to another research area for this company.