ALEXANDRIA REAL ESTATE EQUITIES, INC. ARE

Real estate SIC 6798 - Real Estate Investment Trusts NAICS Real Estate and Rental and Leasing › Real Estate › Lessors of Real Estate derived NYSE

We are a Maryland corporation formed in October 1994 that has elected to be taxed as a REIT for federal income tax

purposes. Alexandria Real Estate Equities, Inc. (NYSE: ARE), 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. Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative Megacampus™ ecosystems

Last close 43.02 2026-10-23
Market cap $7.50B 2026-06-30 share count
52-week range 39.41 - 78.00

Valuation FY2025 figures against the last close

P/S2.5x
P/E—
P/FCF5.3x
EV/EBITDA—
Dividend yield12.2%
Diluted EPS-8.44

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $3.03B$3.12B$2.89B$2.59B$2.11B$1.89B$1.53B$1.33B$1.13B$921.7M
SG&A $117.0M$168.4M$199.4M$177.3M$151.5M$133.3M$108.8M$90.4M$75.0M$63.9M
Total operating expenses $4.82B$2.69B$2.69B$2.13B$1.86B$1.64B$1.33B$1.11B$949.7M$975.1M
Interest expense $226.7M$185.8M$74.2M$94.2M$142.2M$171.6M$173.7M$157.5M$128.6M$107.0M
Net income -$1.43B$322.9M$103.6M$521.7M$571.2M$771.0M$363.2M$379.3M$169.1M-$65.9M
EPS, basic -8.441.800.543.183.836.033.133.531.59-1.99
EPS, diluted -8.441.800.543.183.826.013.123.521.58-1.99
Shares, diluted (wtd. avg.) 170.3M172.1M170.9M161.7M147.5M126.5M112.5M103.3M92.1M76.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $549.1M$552.1M$660.8M$858.0M$415.2M$597.7M$242.7M$272.1M$277.2M$141.4M
Property, plant and equipment $70.3M$39.6M$26.6M$23.2M$26.4M$31.1M$23.0M$14.8M$11.1M$12.8M
Total assets $34.08B$37.53B$36.77B$35.52B$30.22B$22.83B$18.39B$14.46B$12.10B$10.35B
Long-term debt $12.40B$12.24B$11.32B$10.16B$8.79B$7.56B$6.78B$5.48B$4.76B$4.16B
Total liabilities $14.93B$15.13B$14.15B$12.84B$11.19B$9.38B$8.22B$6.57B$5.62B$4.97B
Total equity $15.47B$17.89B$22.61B$22.67B$19.02B$13.43B$10.15B$7.88B$6.47B$5.37B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.41B$1.50B$1.63B$1.29B$1.01B$882.5M$683.9M$570.3M$450.9M$393.5M
Stock-based compensation $41.1M$59.6M$82.9M$57.7M$48.7M$43.5M$43.6M$35.0M$25.6M$25.4M
Investing cash flow $362.1M-$1.51B-$2.50B-$5.08B-$7.11B-$3.28B-$3.64B-$2.16B-$1.74B-$1.50B
Financing cash flow -$1.78B-$93.3M$674.2M$4.23B$5.92B$2.75B$2.93B$1.59B$1.42B$1.09B
Dividends paid $911.5M$898.6M$847.5M$757.7M$656.0M$533.0M$447.0M$380.6M$312.1M$240.3M
Buybacks $208.2M$50.1M$0$0——————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001035443-26-000013.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B Revenue, FY2016: 921.7M Net income, FY2016: -65.9M Revenue, FY2017: 1.1B Net income, FY2017: 169.1M Revenue, FY2018: 1.3B Net income, FY2018: 379.3M Revenue, FY2019: 1.5B Net income, FY2019: 363.2M Revenue, FY2020: 1.9B Net income, FY2020: 771M Revenue, FY2021: 2.1B Net income, FY2021: 571.2M Revenue, FY2022: 2.6B Net income, FY2022: 521.7M Revenue, FY2023: 2.9B Net income, FY2023: 103.6M Revenue, FY2024: 3.1B Net income, FY2024: 322.9M Revenue, FY2025: 3B Net income, FY2025: -1.4B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $921.7M $1.13B $1.33B $1.53B $1.89B $2.11B $2.59B $2.89B $3.12B $3.03B
Gross profit — — — — — — — — — —
Net income -$65.9M $169.1M $379.3M $363.2M $771.0M $571.2M $521.7M $103.6M $322.9M -$1.43B

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Material agreement signed Item 1.01
  • New debt or obligation Item 2.03
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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