Safehold Inc. (SAFE)

Safehold Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Rental Revenue	71.8	71.06	71.29	66.82	67.67	72.34
Other Revenue	35.24	43.87	47.68	10.29	6.8	4.55
Total Revenue	398.97	388.66	361.62	279.37	193.29	158.73
Revenue Growth (YoY	2.96%	7.48%	29.44%	44.53%	21.77%	70.69%
Property Expenses	4.49	4.22	4.65	3.11	2.66	2.48
Selling, General & Administrative	54.05	54.92	59.07	38.61	28.75	22.73
Depreciation & Amortization	8.92	9.95	9.94	9.61	9.56	9.43
Other Operating Expenses	2.22	1.98	2.86	0.39	0.87	0.24
Total Operating Expenses	76.4	80.56	79.22	51.73	41.85	34.89
Operating Income	322.57	308.1	282.39	227.64	151.45	123.84
Interest Expense	-204.53	-198.04	-165.82	-128.97	-79.71	-64.35
EBT Excluding Unusual Items	118.04	110.06	116.57	98.67	71.74	59.49
Merger & Restructuring Charges	-	-	-23.6	-7.7	-	-
Impairment of Goodwill	-	-	-145.37	-	-	-
Gain (Loss) on Sale of Assets	-	-	0.45	55.81	1.83	-
Other Unusual Items	-	-	-0.9	-2.1	-0.22	-
Pretax Income	116.14	110.06	-52.85	144.68	73.36	59.49
Income Tax Expense	3.36	3.45	1.72	-	-	-
Earnings From Continuing Operations	112.78	106.62	-54.57	144.68	73.36	59.49
Minority Interest in Earnings	-0.14	-0.85	-0.41	-9.26	-0.23	-0.19
Net Income	112.63	105.76	-54.97	135.42	73.12	59.29
Net Income to Common	112.63	105.76	-54.97	135.42	73.12	59.29
Net Income Growth	-6.84%	-	-	85.20%	23.32%	114.11%
Basic Shares Outstanding	72	71	67	62	55	51
Diluted Shares Outstanding	72	71	67	62	55	51
Shares Change (YoY)	0.52%	7.14%	6.88%	12.90%	9.01%	63.50%
EPS (Basic)	1.57	1.48	-0.82	2.17	1.32	1.17
EPS (Diluted)	1.57	1.48	-0.82	2.17	1.32	1.17
EPS Growth	-7.42%	-	-	64.39%	12.84%	31.44%
Dividend Per Share	0.708	0.708	0.708	0.701	0.672	0.643
Dividend Growth	-	-	1.00%	4.28%	4.60%	4.00%
Operating Margin	80.85%	79.27%	78.09%	81.48%	78.35%	78.02%
Profit Margin	28.23%	27.21%	-15.20%	48.48%	37.83%	37.35%
EBITDA	333.8	320.36	294.63	239.56	163.43	135.92
EBITDA Margin	83.67%	82.43%	81.48%	85.75%	84.55%	85.63%
D&A For Ebitda	11.23	12.26	12.24	11.92	11.99	12.08
EBIT	322.57	308.1	282.39	227.64	151.45	123.84
EBIT Margin	80.85%	79.27%	78.09%	81.48%	78.35%	78.02%
Effective Tax Rate	2.90%	3.13%	-	-	-	-
Revenue as Reported	379.55	365.69	352.58	270.31	187.01	155.43

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q