Safehold Inc. (SAFE) Financial Statements
Industry: Real Estate Investment Trusts
In fiscal 2025, Safehold reported revenue of $385.6M, up 5.4% from $365.7M the year before. Net income was $114.5M (a 29.7% net margin), or $1.59 per diluted share. Gross margin was 98.8% and operating margin was 26.2%. Operating activities generated $47.8M of cash. At fiscal year end, Safehold held $7.25B in total assets against $4.81B in total liabilities, including $21.7M of cash and equivalents.
Open the full interactive Safehold financials → Quarterly statements, key ratios, valuation history and price charts.
Safehold Key Stats
| Share Price | $11.97 |
|---|---|
| Market Cap | $856.8M |
| P/E Ratio | 7.5 |
| Dividend Yield | 5.97% |
| Revenue YoY Growth | +5.4% |
| 52-Week Range | $11.77 – $16.92 |
| Shares Outstanding | 71.5 million (basic, 2026 Q2) |
Safehold Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $530.9M | $308.6M | $158.1M | $352.6M | $365.7M | $385.6M |
| Cost of Goods Sold | $598.0M | $472.8M | $308.9M | $4.7M | $4.2M | $4.8M |
| Gross Profit | -$67.0M | -$164.2M | -$150.8M | $347.9M | $361.5M | $380.8M |
| Operating Income | -$226.0M | -$303.0M | -$177.6M | -$77.1M | $87.1M | $100.9M |
| Pre-Tax Income | -$30.6M | $16.5M | -$196.7M | -$52.8M | $110.1M | $117.6M |
| Income Tax | $235,000 | -$118,000 | $567,000 | $1.7M | $3.4M | $2.9M |
| Net Income | -$42.4M | $132.5M | $421.3M | -$55.0M | $105.8M | $114.5M |
| Diluted EPS | -$5.44 | $9.44 | $30.75 | -$0.82 | $1.48 | $1.59 |
Safehold Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $96.2M | $97.9M | $110.9M | $114.6M |
| Net Income | $29.3M | $27.9M | $28.9M | $30.2M |
| Diluted EPS | $0.41 | $0.39 | $0.40 | $0.42 |
Safehold Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $98.6M | $339.6M | $1.44B | $18.8M | $8.3M | $21.7M |
| Total Assets | $4.86B | $4.84B | $3.25B | $6.55B | $6.90B | $7.25B |
| Total Long-Term Debt | $3.29B | $2.57B | $1.68B | $4.05B | $4.32B | $4.59B |
| Total Liabilities | $3.80B | $3.78B | $1.83B | $4.25B | $4.53B | $4.81B |
| Shareholders' Equity | $871.0M | $851.3M | $1.41B | $2.23B | $2.34B | $2.41B |
Safehold Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $21.9M | -$20.3M | $47.7M | $15.4M | $37.9M | $47.8M |
| Cash From Investing | $31.2M | $514.0M | $2.79B | -$576.6M | -$212.4M | -$237.2M |
| Cash From Financing | -$255.0M | -$250.1M | -$1.78B | $559.5M | $144.9M | $203.0M |
| Free Cash Flow | — | — | $14.4M | — | — | — |
| Dividends Paid | — | — | — | $46.0M | $50.6M | $50.9M |
Figures from Safehold's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Safehold financials page for every line item.
Safehold Company Profile
| Ticker | SAFE |
|---|---|
| Exchange | NYSE |
| Industry | Real Estate Investment Trusts |
| Headquarters | New York, New York |
| Incorporated in | Maryland |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001095651 |
Frequently Asked Questions
What was Safehold's revenue in fiscal 2025?
Safehold (SAFE) reported revenue of $385.6M for fiscal 2025.
What is Safehold's annual revenue history?
Safehold's annual revenue by fiscal year: 2020: $530.9M; 2021: $308.6M; 2022: $158.1M; 2023: $352.6M; 2024: $365.7M; 2025: $385.6M.
What was Safehold's net income in fiscal 2025?
Safehold reported net income of $114.5M for fiscal 2025.
What was Safehold's earnings per share (EPS) in fiscal 2025?
Safehold's diluted EPS was $1.59 for fiscal 2025 (adjusted for any later stock splits).
What was Safehold's revenue last quarter?
In its most recent reported quarter (2026 Q2), Safehold reported revenue of $114.6M.
How much debt does Safehold have?
Safehold reported $4.59B of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Safehold are outstanding?
Safehold reported a weighted average of 71.5 million basic shares outstanding in 2026 Q2.
What is Safehold's market cap?
Based on its latest closing price, Safehold (SAFE) has a market capitalization of about $856.8M.
When does Safehold's fiscal year end?
Safehold's fiscal year end, as registered with the SEC, is December 31.
Where is Safehold headquartered?
Safehold lists its business address in New York, New York in its SEC filings.