Safehold Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	72.07	71.06	71.29	66.82	67.67
Other Revenue	35.07	43.87	47.68	10.29	6.8
Total Revenue	404.44	388.66	361.62	279.37	193.29
Revenue Growth (YoY	4.06%	7.48%	29.44%	44.53%	21.77%
Property Expenses	4.76	4.22	4.65	3.11	2.66
Selling, General & Administrative	54.34	54.92	68.57	38.61	28.75
Depreciation & Amortization	8.55	9.95	9.94	9.61	9.56
Other Operating Expenses	1.86	1.98	17.86	0.39	0.87
Total Operating Expenses	76.07	80.56	103.72	51.73	41.85
Operating Income	328.37	308.1	257.89	227.64	151.45
Interest Expense	-206.69	-198.04	-165.82	-128.97	-79.71
EBT Excluding Unusual Items	121.69	110.06	92.07	98.67	71.74
Merger & Restructuring Charges	-	-	-	-7.7	-
Impairment of Goodwill	-	-	-145.37	-	-
Gain (Loss) on Sale of Investments	-1.9	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	0.45	55.81	1.83
Other Unusual Items	-2.22	-	-	-2.1	-0.22
Pretax Income	117.56	110.06	-52.85	144.68	73.36
Income Tax Expense	2.93	3.45	1.72	-	-
Earnings From Continuing Operations	114.63	106.62	-54.57	144.68	73.36
Minority Interest in Earnings	-0.16	-0.85	-0.41	-9.26	-0.23
Net Income	114.47	105.76	-54.97	135.42	73.12
Net Income to Common	114.47	105.76	-54.97	135.42	73.12
Net Income Growth	8.23%	-	-	85.20%	23.32%
Basic Shares Outstanding	72	71	67	62	55
Diluted Shares Outstanding	72	71	67	62	55
Shares Change (YoY)	0.47%	7.14%	6.88%	12.90%	9.01%
EPS (Basic)	1.60	1.48	-0.82	2.17	1.32
EPS (Diluted)	1.59	1.48	-0.82	2.17	1.32
EPS Growth	7.43%	-	-	64.39%	12.84%
Dividend Per Share	0.708	0.708	0.708	0.701	0.672
Dividend Growth	-	-	1.00%	4.28%	4.60%
Operating Margin	81.19%	79.27%	71.32%	81.48%	78.35%
Profit Margin	28.30%	27.21%	-15.20%	48.48%	37.83%
EBITDA	339.23	320.36	270.13	239.56	163.43
EBITDA Margin	83.88%	82.43%	74.70%	85.75%	84.55%
D&A For Ebitda	10.86	12.26	12.24	11.92	11.99
EBIT	328.37	308.1	257.89	227.64	151.45
EBIT Margin	81.19%	79.27%	71.32%	81.48%	78.35%
Effective Tax Rate	2.50%	3.13%	-	-	-
Revenue as Reported	385.55	365.69	352.58	270.31	187.01

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q