Real Estate · Office REITs · US stock · price as of 16 Oct 2026
Key indicators
Price
$41.62
52-week range
$38.32 – $74.06
Market cap
$7.1B
P/E (trailing)
–
EV / EBITDA
–
Free-cash-flow yield
18.0%
Dividend yield
6.9%
Revenue (last 12 months)
$2.8B
Revenue growth (3y a year)
5.3%
Operating margin
–
Return on invested capital
–
Net debt / EBITDA
–
Fair value
Fair value is not shown for this company.
X-Ray Score
57/ 100 · Low confidence · ahead of 72% of sector peers
Valuation70
Growth18
Profitability95
Financial health28
Dividends68
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Alexandria Real Estate Equities is a real estate investment trust that owns and develops laboratory and office campuses for life science, technology and agricultural research tenants. Its properties are clustered in innovation hubs such as Boston, San Francisco and San Diego. The company earns most of its revenue from rent paid under long-term leases, along with reimbursement of operating costs, and it sometimes sells assets to fund new development.
Revenue over the last twelve months was $2.8 billion, and it grew 5.3% a year over the past three years. Shareholders receive a dividend, yielding 6.9%. These readings summarise reported results and do not forecast future performance. The figures describe past results only and are drawn from the latest reported period.
StocksXray gives Alexandria Real Estate Equities, Inc. an X-Ray Score of 57 out of 100 (low confidence), ahead of 72% of the S&P 500 stocks in its sector. Its strongest lens is profitability (95) and its weakest is growth (18).
XStocksXray
Alexandria Real Estate Equities, Inc. (ARE)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$177.81
$119.80
$108.89
$87.73
$46.85
$41.62
Market cap
$26.2B
$19.4B
$18.6B
$15.1B
$8.0B
$7.1B
P/E
46.5×
37.7×
201.6×
48.7×
–
–
EV / revenue
17.7×
12.5×
11.6×
10.0×
7.8×
8.1×
EV / EBITDA
–
–
–
–
–
–
Price / free cash flow
26.0×
15.0×
11.4×
10.0×
5.6×
5.6×
Free-cash-flow yield
3.9%
6.7%
8.8%
10.0%
17.7%
18.0%
Price / book
1.6×
1.0×
1.0×
0.8×
0.5×
0.5×
Dividend yield
2.52%
3.94%
4.56%
5.92%
9.99%
6.92%
Fundamentals checklist ● 1 Good · ● 1 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−6.7%Good
Risk models
Piotroski F-Score5 of 9Bad
Growth
Revenue growth (3y)5.3%Average
Growth consistency40%Bad
XStocksXray
Alexandria Real Estate Equities, Inc. (ARE)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
2,114
2,589
2,886
3,116
3,027
2,840
Gross profit
–
–
–
–
–
–
Operating income
–
–
–
–
–
–
Net income
571
522
104
323
-1,430
-1,025
Diluted EPS ($)
3.82
3.18
0.54
1.80
-8.44
-6.01
Free cash flow
1,010
1,294
1,631
1,505
1,414
1,279
Gross margin
–
–
–
–
–
–
Operating margin
–
–
–
–
–
–
Net margin
27.0%
20.1%
3.6%
10.4%
−47.2%
−36.1%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
30,219
35,523
36,771
37,527
34,082
34,632
Cash
361
825
618
552
549
470
Total debt
8,792
10,160
11,316
12,244
12,401
12,813
Equity
16,190
18,972
18,471
17,889
15,470
15,554
Dividend per share ($)
4.48
4.72
4.96
5.19
4.68
3.48
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.