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Financials · ARE

Alexandria Real Estate Equities Inc. (ARE) financials

For the twelve months ended Sep 30, 2026, Alexandria Real Estate Equities Inc. reported $2.76B of revenue and -$1.43B of net income.

Revenue, TTM
$2.76B
Revenue growth, YoY
-9.9%
Net income, TTM
-$1.43B
Net margin
-51.8%
EPS, diluted, TTM
-$8.42
Cash
$508.86M
Total debt
$12.90B
P/S
2.82
Market cap
$7.78B
Annual revenue$3.03B
FY2016FY2025
Annual net income-$1.43B
FY2016FY2025

ARE revenue and earnings growth

ARE revenueQ3 2026$671.18M

Quarter YoY
-10.7%
QoQ
+1.3%
FY YoY
-2.9%
5Y CAGR
+9.9%
10Y CAGR
+13.6%

ARE revenue was $671.18M in fiscal Q3 2026 (ended Sep 30, 2026), down 10.7% from a year earlier and up 1.3% from the prior quarter. For the full fiscal 2025 it was $3.03B, down 2.9% from fiscal 2024. Compound annual growth was +9.9% over 5 years and +13.6% over 10 years. It rose in 9 of the last 10 fiscal years.

ARE net incomeQ3 2026-$637.69M

ARE net income was -$637.69M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$232.75M a year earlier. For the full fiscal 2025 it was -$1.43B, compared with $322.95M in fiscal 2024.

ARE EPSQ3 2026-$3.74

ARE diluted EPS was -$3.74 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$1.38 a year earlier. For the full fiscal 2025 it was -$8.44, compared with $1.80 in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$3.03B$3.12B$2.89B$2.59B$2.11B$1.89B$1.53B$1.33B$1.13B$921.71M
Selling, general and admin$117.05M$168.36M$199.35M$177.28M$151.46M$133.34M$108.82M$90.41M$75.01M$63.88M
Interest expense$226.70M$185.84M$74.20M$94.20M$142.16M$171.61M$173.68M$157.50M$128.65M$106.95M
Net income-$1.43B$322.95M$103.64M$521.66M$571.25M$770.96M$363.17M$379.31M$169.09M-$65.90M
EPS, basic-$8.44$1.80$0.54$3.18$3.83$6.03$3.13$3.53$1.59-$1.99
EPS, diluted-$8.44$1.80$0.54$3.18$3.82$6.01$3.12$3.52$1.58-$1.99
Diluted shares170.3M172.1M170.9M161.7M147.5M126.5M112.5M103.3M92.1M76.1M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$549.06M$559.85M$660.77M$857.98M$415.23M$597.71M$242.69M$272.13M$277.19M$141.37M
Total assets$34.08B$37.53B$36.77B$35.52B$30.22B$22.83B$18.39B$14.46B$12.10B$10.35B
Total 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
Shareholders' equity$15.47B$22.38B$22.61B$22.67B$19.02B$13.43B$10.15B$7.88B$6.47B$5.37B

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow$1.41B$1.50B$1.63B$1.29B$1.01B$882.51M$683.86M$570.34M$450.88M$393.49M
Investing cash flow$362.10M-$1.51B-$2.50B-$5.08B-$7.11B-$3.28B-$3.64B-$2.16B-$1.74B-$1.50B
Financing cash flow-$1.78B-$93.31M$674.16M$4.23B$5.92B$2.75B$2.93B$1.59B$1.42B$1.09B
Dividends paid$911.45M$898.60M$847.50M$757.70M$656.00M$533.00M$451.20M$385.80M$321.80M$262.80M
Share repurchases$208.19M$50.11M$0$0------
Stock-based compensation$41.12M$59.63M$82.86M$57.74M$48.67M$43.50M$43.64M$35.02M$25.61M$25.43M
Depreciation and amortization$1.35B$1.20B$1.09B$1.00B$821.06M$698.10M$544.61M$477.66M$416.78M$313.39M

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY-2.9%8.0%11.5%22.5%12.1%23.1%15.4%17.7%22.4%9.3%
Net income growth, YoY-211.6%-80.1%-8.7%-25.9%112.3%-4.3%124.3%--
EPS growth, YoY-233.3%-83.0%-16.8%-36.4%92.6%-11.4%122.8%--
Net margin-47.2%10.4%3.6%20.1%27.0%40.9%23.7%28.6%15.0%-7.1%
Return on equity-9.2%1.4%0.5%2.3%3.0%5.7%3.6%4.8%2.6%-1.2%
Return on assets-4.2%0.9%0.3%1.5%1.9%3.4%2.0%2.6%1.4%-0.6%
Debt to equity0.800.550.500.450.460.560.670.690.740.78

Source: XBRL data Alexandria Real Estate Equities Inc. files with the SEC, latest filing dated Oct 26, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ARE peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ARE$2.76B-9.9%-$1.43B-51.8%$7.78B
WELL$13.79B+39.2%$1.67B12.1%$181.69B
PLD$8.95B+6.7%$3.71B41.5%$123.66B
EQIX$10.06B+11.1%$1.65B16.4%$103.94B
AMT$11.01B+5.3%$3.31B30.1%$88.29B
SPG$7.15B+16.2%$4.51B63.0%$75.61B
DLR$6.34B+12.6%$1.38B21.7%$68.43B
PSA$5.03B+5.2%$1.90B37.8%$62.77B
O$6.21B+10.8%$1.36B21.8%$56.62B

ARE FAQ

7 questions
  • What is ARE revenue?
    Alexandria Real Estate Equities Inc. (ARE) reported $2.76B of revenue for the twelve months ended Sep 30, 2026. That is down 9.9% from the year before. Revenue for fiscal 2025 was $3.03B.
  • Is ARE profitable?
    No. Alexandria Real Estate Equities Inc. reported a net loss of $1.43B for the twelve months ended Sep 30, 2026.
  • How much cash and debt does ARE have?
    Alexandria Real Estate Equities Inc. reported $508.86M in cash and cash equivalents and $12.90B of debt on its most recent balance sheet in SEC filings.
  • How fast is ARE revenue growing?
    Alexandria Real Estate Equities Inc.'s revenue changed -2.9% in fiscal 2025, to $3.03B. Its compound annual growth rate was +9.9% over 5 years and +13.6% over 10 years.
  • What is ARE earnings per share?
    Diluted earnings per share were -$8.42 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did ARE last report financial results?
    The latest statements here come from Alexandria Real Estate Equities Inc.'s 10-Q filed on Oct 26, 2026, covering the period ended Sep 30, 2026.
  • Where does this ARE financial data come from?
    Quantisnow builds these statements from the structured XBRL data Alexandria Real Estate Equities Inc. files with the SEC. It is provided for information only and is not investment advice.