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Safehold Inc.

SAFE Clue Score48
United States Fiscal year ends December CIK 0001095651
$12.00 -0.83% Close, 9 Oct 2026
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Price $12.00 −83.44% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 22 Jun 2017. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue455.2Net income95.3EPS, diluted0.60Fiscal year 2017Revenue679.2 +49.2%Net income175.7 +84.3%EPS, diluted1.56 +160.0%Fiscal year 2018Revenue798.1 +17.5%Net income−32.3 −118.4%EPS, diluted−0.95 −160.9%Fiscal year 2019Revenue273.7 −65.7%Net income324.0EPS, diluted4.51Fiscal year 2020Revenue324.1 +18.4%Net income−42.4 −113.1%EPS, diluted−0.87 −119.3%Fiscal year 2021Revenue187.0 −42.3%Operating income65.5Net income73.1EPS, diluted1.32Fiscal year 2022Revenue270.3 +44.5%Operating income135.6Net income135.4 +85.2%EPS, diluted2.17 +64.4%Fiscal year 2023Revenue352.6 +30.4%Operating income−77.1Net income−55.0 −140.6%EPS, diluted−0.82 −137.8%Fiscal year 2024Revenue365.7 +3.7%Operating income87.1Net income105.8EPS, diluted1.48Fiscal year 2025Revenue385.6 +5.4%Operating income100.9Net income114.5 +8.2%EPS, diluted1.59 +7.4%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 455.2 679.2 798.1 273.7 324.1 187.0 270.3 352.6 365.7 385.6
Growth +49.2% +17.5% −65.7% +18.4% −42.3% +44.5% +30.4% +3.7% +5.4%
Operating income n/a n/a n/a n/a n/a 65.5 135.6 −77.1 87.1 100.9
Net income 95.3 175.7 −32.3 324.0 −42.4 73.1 135.4 −55.0 105.8 114.5
Growth +84.3% −118.4% −113.1% +85.2% −140.6% +8.2%
EPS, diluted 0.60 1.56 −0.95 4.51 −0.87 1.32 2.17 −0.82 1.48 1.59
Growth +160.0% −160.9% −119.3% +64.4% −137.8% +7.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Net margin20.9%Fiscal year 2017Net margin25.9%Fiscal year 2018Net margin−4.0%Fiscal year 2019Net margin118.4%Fiscal year 2020Net margin−13.1%Fiscal year 2021Operating margin35.0%Net margin39.1%Fiscal year 2022Operating margin50.2%Net margin50.1%Fiscal year 2023Operating margin−21.9%Net margin−15.6%Fiscal year 2024Operating margin23.8%Net margin28.9%Fiscal year 2025Operating margin26.2%Net margin29.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin n/a n/a n/a n/a n/a 35.0% 50.2% −21.9% 23.8% 26.2%
Net margin 20.9% 25.9% −4.0% 118.4% −13.1% 39.1% 50.1% −15.6% 28.9% 29.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow29.5Buybacks−99.3Dividends paid0.0Fiscal year 2017Operating cash flow101.5Buybacks−45.9Dividends paid0.0Fiscal year 2018Operating cash flow−24.1Buybacks−8.3Dividends paid−12.2Fiscal year 2019Operating cash flow−45.6Buybacks−68.3Dividends paid−25.1Fiscal year 2020Operating cash flow21.9Buybacks−54.6Dividends paid−32.7Fiscal year 2021Operating cash flow26.9Buybacks−122.6Dividends paid−34.8Fiscal year 2022Operating cash flow64.9Dividends paid−30.2Fiscal year 2023Operating cash flow15.4Dividends paid−46.0Fiscal year 2024Operating cash flow37.9Dividends paid−50.6Fiscal year 2025Operating cash flow47.8Dividends paid−50.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 29.5 101.5 −24.1 −45.6 21.9 26.9 64.9 15.4 37.9 47.8
Buybacks −99.3 −45.9 −8.3 −68.3 −54.6 −122.6 n/a n/a n/a n/a
Dividends paid 0.0 0.0 −12.2 −25.1 −32.7 −34.8 −30.2 −46.0 −50.6 −50.9

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash328.7Total debt3,389.9Net cash (debt)−3,061.2Shareholders’ equity1,016.6Debt to equity3.33Fiscal year 2017Cash657.7Total debt3,476.4Net cash (debt)−2,818.7Shareholders’ equity879.7Debt to equity3.95Fiscal year 2018Cash931.8Total debt3,609.1Net cash (debt)−2,677.3Shareholders’ equity863.0Debt to equity4.18Fiscal year 2019Cash307.2Total debt3,387.1Net cash (debt)−3,079.9Shareholders’ equity1,040.4Debt to equity3.26Fiscal year 2020Cash98.6Total debt2,569.3Net cash (debt)−2,470.6Shareholders’ equity871.0Debt to equity2.95Fiscal year 2021Cash29.6Total debt2,572.2Net cash (debt)−2,542.6Shareholders’ equity851.3Debt to equity3.02Fiscal year 2022Cash20.1Total debt3,521.4Net cash (debt)−3,501.3Shareholders’ equity2,141.5Debt to equity1.64Fiscal year 2023Cash18.8Total debt4,054.4Net cash (debt)−4,035.6Shareholders’ equity2,231.3Debt to equity1.82Fiscal year 2024Cash8.3Total debt4,317.4Net cash (debt)−4,309.1Shareholders’ equity2,344.0Debt to equity1.84Fiscal year 2025Cash21.7Total debt4,585.9Net cash (debt)−4,564.2Shareholders’ equity2,408.3Debt to equity1.90
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 328.7 657.7 931.8 307.2 98.6 29.6 20.1 18.8 8.3 21.7
Total debt 3,389.9 3,476.4 3,609.1 3,387.1 2,569.3 2,572.2 3,521.4 4,054.4 4,317.4 4,585.9
Net cash (debt) −3,061.2 −2,818.7 −2,677.3 −3,079.9 −2,470.6 −2,542.6 −3,501.3 −4,035.6 −4,309.1 −4,564.2
Shareholders’ equity 1,016.6 879.7 863.0 1,040.4 871.0 851.3 2,141.5 2,231.3 2,344.0 2,408.3
Debt to equity 3.33 3.95 4.18 3.26 2.95 3.02 1.64 1.82 1.84 1.90

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Balance sheet

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Assets
328.7 657.7 931.8 307.2 98.6 29.6 20.1 18.8 8.3 21.7
n/a n/a n/a n/a n/a n/a n/a 1.0 0.6 0.5
4,825.5 4,731.1 5,014.3 5,085.1 4,861.8 4,840.5 5,850.9 6,548.3 6,899.4 7,249.3
Growth −2.0% +6.0% +1.4% −4.4% −0.4% +20.9% +11.9% +5.4% +5.1%
Liabilities
3,389.9 3,476.4 3,609.1 3,387.1 2,569.3 2,572.2 3,521.4 4,054.4 4,317.4 4,585.9
calc 3,389.9 3,476.4 3,609.1 3,387.1 2,569.3 2,572.2 3,521.4 4,054.4 4,317.4 4,585.9
3,760.8 3,816.8 3,950.2 3,847.1 3,797.4 3,777.3 3,686.3 4,252.6 4,525.4 4,809.4
Equity
−2,581.5 −2,470.6 −2,472.1 −2,205.8 −2,317.0 −2,227.2 151.2 47.6 102.5 165.7
1,016.6 879.7 863.0 1,040.4 871.0 851.3 2,141.5 2,231.3 2,344.0 2,408.3
Growth −13.5% −1.9% +20.6% −16.3% −2.3% +151.6% +4.2% +5.1% +2.7%
Per share and net cash
calc −3,061.2 −2,818.7 −2,677.3 −3,079.9 −2,470.6 −2,542.6 −3,501.3 −4,035.6 −4,309.1 −4,564.2
72.0 68.2 68.1 77.8 74.0 68.9 62.4 71.1 71.4 71.8
calc 14.11 12.89 12.68 13.37 11.78 12.36 34.32 31.39 32.81 33.56

Lines marked calc are worked out here from filed figures; point at one for how.