Cash flow Alexandria Real Estate Equities, Inc.

Equities

ARE

US0152711091

Commercial REITs

Market Closed - Nyse Other stock markets 04:00:02 2025-07-09 pm EDT			5-day change	1st Jan Change
77.07 ^USD	+0.06%		+3.46%	-20.99%

Jun. 12	Trump’s trade rhetoric rekindles market jitters
Jun. 12	Baird Adjusts Price Target on Alexandria Real Estate Equities to $102 From $129	MT

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Published financial data: ALEXANDRIA REAL ESTATE EQUITIES, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Rental Revenues	1.88B	2.11B	2.58B	2.84B	3.05B
Tenant Reimbursements	-	-	-	-	-
Interest and Investment Income, Total (Revenue Block)	-	-	-	-	-
Gain (Loss) on Sale of Investments, Total (Rev)	-	-	-	-	-
Other Revenues, Total	23.22M	18.16M	13.57M	44.22M	73.75M
Total Revenues	1.9B	2.13B	2.59B	2.89B	3.12B
Property Expenses	530M	624M	783M	859M	909M
Selling General & Admin Expenses, Total	133M	151M	177M	199M	168M
Depreciation & Amortization - (IS) - (Collected)	698M	821M	1B	1.09B	1.2B
Total Operating Expenses	1.36B	1.6B	1.96B	2.15B	2.28B
Operating Income (REIT / Utility Template)	540M	530M	627M	735M	843M
Interest Expense, Total	-172M	-142M	-94.2M	-74.2M	-186M
Interest and Investment Income	421M	259M	-	-	-
Net Interest Expenses	250M	117M	-94.2M	-74.2M	-186M
EBT, Excl. Unusual Items	789M	648M	533M	660M	658M
Gain (Loss) on Sale of Investments	-7.64M	-	-332M	-195M	-53.12M
Gain (Loss) on Sale of Assets	154M	127M	538M	277M	129M
Asset Writedown	-48.08M	-52.68M	-64.97M	-461M	-223M
Other Unusual Items	-60.67M	-67.25M	-3.32M	-	-
EBT, Incl. Unusual Items	827M	654M	671M	281M	511M
Earnings From Continuing Operations	827M	654M	671M	281M	511M
Earnings Of Discontinued Operations	-	-	-	-	-
Net Income to Company	827M	654M	671M	281M	511M
Minority Interest	-56.21M	-83.04M	-149M	-177M	-188M
Net Income - (IS)	771M	571M	522M	104M	323M
Preferred Dividend and Other Adjustments	10.17M	7.85M	8.39M	11.2M	13.39M
Net Income to Common Incl Extra Items	761M	563M	513M	92.44M	310M
Net Income to Common Excl. Extra Items	761M	563M	513M	92.44M	310M
Per Share Items
Net EPS - Basic	6.03	3.83	3.18	0.54	1.8
Basic EPS - Continuing Operations	6.03	3.83	3.18	0.54	1.8
Basic Weighted Average Shares Outstanding	126M	147M	162M	171M	172M
Net EPS - Diluted	6.01	3.82	3.18	0.54	1.8
Diluted EPS - Continuing Operations	6.01	3.82	3.18	0.54	1.8
Diluted Weighted Average Shares Outstanding	126M	147M	162M	171M	172M
Normalized Basic EPS	3.47	2.19	1.14	1.38	1.3
Normalized Diluted EPS	3.46	2.18	1.14	1.38	1.3
Dividend Per Share	4.24	4.48	4.72	4.96	5.19
Payout Ratio	69.13	114.83	145.26	817.73	278.23
Supplemental Items
EBITDA	1.18B	1.3B	1.55B	1.73B	1.96B
EBITA	588M	622M	722M	802M	866M
EBIT	540M	530M	627M	735M	843M
EBITDAR	1.2B	1.32B	1.59B	1.77B	2B
Total Revenues (As Reported)	1.89B	2.11B	2.59B	2.89B	3.12B
Normalized Net Income	437M	322M	184M	235M	223M
Interest Capitalized	126M	171M	279M	364M	331M
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
General and Administrative Expenses	133M	151M	177M	199M	168M
Net Rental Expense, Total	19.99M	25.43M	32.87M	34.34M	38.96M
Imputed Operating Lease Interest Expense	6.35M	7.43M	9.91M	10.81M	13.18M
Imputed Operating Lease Depreciation	13.63M	18M	22.96M	23.52M	25.78M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	20.2M	-
Stock-Based Comp., Other (Total)	43.5M	48.67M	57.74M	62.66M	59.63M
Total Stock-Based Compensation	43.5M	48.67M	57.74M	82.86M	59.63M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Gross Property Plant And Equipment	21.05B	27.93B	35.03B	37.3B	38.53B
Accumulated Depreciation	-3.18B	-3.77B	-4.35B	-4.98B	-5.48B
Net Property Plant And Equipment	17.87B	24.16B	30.68B	32.32B	33.06B
Land Held For Development Or Sale	739M	1.47B	-	-	-
Total Real Estate Assets	18.61B	25.63B	30.68B	32.32B	33.06B
Cash And Equivalents	569M	361M	825M	618M	552M
Accounts Receivable, Total	768M	917M	990M	1.1B	1.23B
Investment In Debt and Equity Securities	1.61B	1.88B	1.62B	1.45B	1.48B
Other Intangibles, Total	462M	610M	616M	462M	305M
Notes Receivable (Collected)	3.42M	13.09M	19.88M	15.84M	121M
Restricted Cash	29.17M	53.88M	32.78M	42.58M	7.7M
Other Current Assets, Total	81.53M	201M	49.1M	56.83M	55.34M
Trading Asset Securities, Total	-	-	-	-	-
Deferred Charges Long-Term	297M	422M	548M	540M	535M
Other Long-Term Assets, Total	394M	131M	153M	167M	184M
Total Assets	22.83B	30.22B	35.52B	36.77B	37.53B
Liabilities
Current Portion of Long-Term Debt	3.42M	3.59M	30K	32K	34K
Current Portion of Leases	18.9M	48.5M	24.07M	22.61M	-
Long-Term Debt	7.56B	8.79B	10.16B	11.32B	12.24B
Long-Term Leases	327M	386M	383M	360M	507M
Accounts Payable, Total	285M	513M	390M	524M	535M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	151M	184M	209M	222M	230M
Unearned Revenue Non Current	281M	339M	468M	564M	703M
Other Non Current Liabilities	758M	923M	1.21B	1.14B	909M
Total Liabilities	9.38B	11.19B	12.84B	14.15B	15.13B
Preferred Stock Redeemable	-	-	-	-	-
Preferred Stock Convertible	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	1.37M	1.58M	1.71M	1.72M	1.72M
Additional Paid In Capital	11.73B	16.2B	18.99B	18.49B	17.93B
Comprehensive Income and Other	-6.62M	-7.29M	-20.81M	-15.9M	-46.25M
Total Common Equity	11.73B	16.19B	18.97B	18.47B	17.89B
Minority Interest	1.72B	2.84B	3.71B	4.15B	4.51B
Total Equity	13.44B	19.03B	22.68B	22.62B	22.4B
Total Liabilities And Equity	22.83B	30.22B	35.52B	36.77B	37.53B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	137M	160M	173M	175M	173M
ECS Total Common Shares Outstanding	137M	158M	171M	172M	172M
Book Value / Share	85.78	102.44	111.11	107.45	103.88
Tangible Book Value	11.26B	15.58B	18.36B	18.01B	17.58B
Tangible Book Value Per Share	82.4	98.58	107.51	104.76	102.11
Total Debt	7.91B	9.23B	10.57B	11.7B	12.75B
Net Debt	7.34B	8.87B	9.74B	11.08B	12.2B
Debt Equivalent Oper. Leases	160M	203M	263M	275M	312M
Minority Interest, Total (Incl. Fin. Div)	1.72B	2.84B	3.71B	4.15B	4.51B
Equity Method Investments, Total	332M	38.48M	38.44M	37.78M	39.87M
Account Code - Inventory Valuation	3	-	3	3	3
Land - (BS)	2.55B	3.78B	4.28B	4.39B	3.86B
Buildings, Total	13.36B	16.31B	18.61B	20.32B	20.38B
Machinery, Total	31.13M	26.43M	23.19M	26.56M	39.56M
Full Time Employees	470	559	593	568	552

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	771M	571M	522M	104M	323M
Depreciation, Depletion & Amortization	593M	674M	833M	933M	1.09B
Amortization of Goodwill and Intangible Assets - (CF)	48.16M	91.82M	95.15M	67.27M	23.02M
Total Depreciation, Depletion & Amortization	641M	766M	928M	1B	1.12B
Amortization of Deferred Charges, Total	10.49M	11.44M	13.93M	16.69M	18.44M
(Gain) Loss On Sale of Asset - (CF)	-154M	-127M	-538M	-277M	-129M
(Gain) Loss on Sale of Investments - (CF)	7.64M	-	-	-	53.12M
Total Asset Writedown	48.08M	52.68M	64.97M	461M	223M
(Income) Loss On Equity Investments - (CF)	-9.88M	8.1M	2.73M	2.28M	-4.08M
Stock-Based Compensation (CF)	43.5M	48.67M	57.74M	82.86M	59.63M
Change in Accounts Receivable	2.8M	-44K	-273K	-102K	1.77M
Change in Accounts Payable	-1.12M	60.93M	77.85M	111M	-56.82M
Change in Other Net Operating Assets (Collected)	-72.06M	-156M	-200M	-109M	-145M
Other Operating Activities	-405M	-226M	366M	239M	44.46M
Cash from Operations	883M	1.01B	1.29B	1.63B	1.5B
Acquisition of Real Estate Assets, Total	-4.02B	-7.52B	-6.19B	-3.68B	-2.67B
Sale of Real Estate Assets, Total	747M	191M	994M	1.2B	1.22B
Net Sale / Acquisition of Real Estate Assets	-3.27B	-7.33B	-5.19B	-2.49B	-1.45B
Investment in Marketable and Equity Securities, Total	-16.72M	388M	-45.58M	-6.73M	-63.44M
Other Investing Activities, Total	7.41M	-162M	156M	-5.58M	3.86M
Cash from Investing	-3.28B	-7.11B	-5.08B	-2.5B	-1.51B
Short Term Debt Issued, Total	23.54B	30.95B	14.64B	10.48B	13.01B
Long-Term Debt Issued, Total	4.4B	5.27B	3.02B	1.06B	1.03B
Total Debt Issued	27.94B	36.23B	17.67B	11.54B	14.04B
Short Term Debt Repaid, Total	-23.44B	-30.78B	-14.91B	-10.38B	-13.11B
Long-Term Debt Repaid, Total	-3.7B	-4.19B	-1.38B	-30K	-32K
Total Debt Repaid	-27.14B	-34.97B	-16.29B	-10.38B	-13.11B
Issuance of Common Stock	2.32B	3.53B	2.35B	104M	27.1M
Repurchase of Common Stock	-21.32M	-34.34M	-47.29M	-24.59M	-113M
Repurchase of Preferred Stock	-	-	-	-	-
Common Dividends Paid	-533M	-656M	-758M	-847M	-899M
Preferred Dividends Paid	-	-	-	-	-
Common & Preferred Stock Dividends Paid	-533M	-656M	-758M	-847M	-899M
Other Financing Activities, Total	192M	1.82B	1.31B	286M	-38.03M
Cash from Financing	2.75B	5.92B	4.23B	674M	-93.32M
Foreign Exchange Rate Adjustments	311K	-1.71M	-887K	-1.29M	-1.44M
Net Change in Cash	355M	-182M	443M	-197M	-101M
Supplemental Items
Cash Interest Paid	161M	139M	63.19M	46.58M	160M
Net Debt Issued / Repaid	797M	1.26B	1.37B	1.16B	929M
Levered Free Cash Flow	942M	1.03B	1.33B	1.54B	1.42B
Unlevered Free Cash Flow	1.04B	1.1B	1.37B	1.57B	1.52B
Change In Net Working Capital	-16.93M	41.91M	4.54M	-24.88M	186M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	1.64	1.25	1.19	1.27	1.42
Return on Total Capital	1.75	1.34	1.27	1.36	1.52
Return On Equity %	7.01	4.03	3.22	1.24	2.27
Return on Common Equity	7.39	4.04	2.92	0.49	1.7
Margin Analysis
Gross Profit Margin %	72.11	70.68	69.76	70.24	70.89
SG&A Margin	7.01	7.12	6.85	6.91	5.39
EBITDA Margin %	62.09	60.98	60.04	60.1	62.76
EBITA Margin %	30.92	29.26	27.89	27.78	27.74
EBIT Margin %	28.39	24.94	24.21	25.45	27
Income From Continuing Operations Margin %	43.5	30.77	25.9	9.73	16.35
Net Income Margin %	40.55	26.86	20.14	3.59	10.34
Net Avail. For Common Margin %	40.01	26.5	19.82	3.2	9.91
Normalized Net Income Margin	22.99	15.13	7.1	8.16	7.15
Levered Free Cash Flow Margin	49.54	48.3	51.28	53.26	45.46
Unlevered Free Cash Flow Margin	54.62	51.94	53.02	54.29	48.59
Asset Turnover
Asset Turnover	0.09	0.08	0.08	0.08	0.08
Fixed Assets Turnover	0.12	0.1	0.09	0.09	0.1
Receivables Turnover (Average Receivables)	2.57	2.5	2.7	2.72	2.61
Short Term Liquidity
Current Ratio	3.16	2.06	3.08	2.38	2.58
Quick Ratio	2.92	1.71	2.91	2.23	2.34
Operating Cash Flow to Current Liabilities	1.93	1.35	2.08	2.12	1.97
Days Sales Outstanding (Average Receivables)	142.29	145.89	135.1	134.08	140.03
Average Days Payable Outstanding	167.05	233.68	210.46	194.18	213.18
Long Term Solvency
Total Debt/Equity	58.83	48.48	46.58	51.71	56.93
Total Debt / Total Capital	37.04	32.65	31.78	34.09	36.28
LT Debt/Equity	58.66	48.2	46.48	51.61	56.93
Long-Term Debt / Total Capital	36.94	32.46	31.71	34.02	36.28
Total Liabilities / Total Assets	41.11	37.02	36.15	38.48	40.31
EBIT / Interest Expense	3.15	3.73	6.66	9.9	4.54
EBITDA / Interest Expense	7	9.3	16.85	23.84	10.76
(EBITDA - Capex) / Interest Expense	7	9.3	16.85	23.84	10.76
Total Debt / EBITDA	6.59	6.98	6.66	6.61	6.38
Net Debt / EBITDA	6.11	6.71	6.14	6.26	6.1
Total Debt / (EBITDA - Capex)	6.59	6.98	6.66	6.61	6.38
Net Debt / (EBITDA - Capex)	6.11	6.71	6.14	6.26	6.1
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	23.35	12.28	21.78	11.47	8.2
Gross Profit, 1 Yr. Growth %	25.12	10.22	20.2	12.24	9.21
EBITDA, 1 Yr. Growth %	23.33	10.54	19.92	11.58	12.99
EBITA, 1 Yr. Growth %	27.31	7.22	16.08	11.04	8.05
EBIT, 1 Yr. Growth %	21.98	-0.34	18.23	17.17	14.81
Earnings From Cont. Operations, 1 Yr. Growth %	104.72	-20.9	2.51	-58.1	81.76
Net Income, 1 Yr. Growth %	112.29	-25.9	-8.68	-80.13	211.61
Diluted EPS Before Extra, 1 Yr. Growth %	92.63	-36.44	-16.88	-82.99	233.15
Normalized Net Income, 1 Yr. Growth %	75.73	-25.6	-42.82	27.97	-5.19
Net Property, Plant and Equip., 1 Yr. Growth %	18.19	35.16	19.67	5.37	2.27
Accounts Receivable, 1 Yr. Growth %	10.9	19.46	7.87	11.02	12.41
Total Assets, 1 Yr. Growth %	24.13	32.38	17.55	3.51	2.06
Common Equity, 1 Yr. Growth %	32.26	38.07	17.19	-2.64	-3.15
Tangible Book Value, 1 Yr. Growth %	31.21	38.32	17.82	-1.89	-2.36
Cash From Operations, 1 Yr. Growth %	29.05	14.47	28.13	25.98	-7.73
Levered Free Cash Flow, 1 Yr. Growth %	59.34	9.6	29.55	15.77	-7.64
Unlevered Free Cash Flow, 1 Yr. Growth %	50.41	6.83	24.3	14.14	-3.15
Dividend Per Share, 1 Yr. Growth %	6	5.66	5.36	5.08	4.64
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	19.34	17.45	16.94	16.51	9.82
Gross Profit, 2 Yr. CAGR %	19.9	17.1	15.1	16.15	10.71
EBITDA, 2 Yr. CAGR %	18.45	16.38	15.13	15.67	12.28
EBITA, 2 Yr. CAGR %	21.51	16.07	11.56	13.53	9.54
EBIT, 2 Yr. CAGR %	18.28	9.47	8.55	17.7	15.98
Earnings From Cont. Operations, 2 Yr. CAGR %	43.3	27.25	-9.95	-34.47	-12.74
Net Income, 2 Yr. CAGR %	42.57	25.42	-17.74	-57.41	-21.32
Diluted EPS Before Extra, 2 Yr. CAGR %	30.67	10.65	-27.32	-62.4	-24.73
Normalized Net Income, 2 Yr. CAGR %	46.15	13.72	-34.77	-14.46	10.15
Net Property, Plant and Equip., 2 Yr. CAGR %	22.5	26.39	31	12.29	3.81
Accounts Receivable, 2 Yr. CAGR %	15.15	15.1	13.52	9.43	11.71
Total Assets, 2 Yr. CAGR %	25.62	28.19	24.75	10.31	2.78
Common Equity, 2 Yr. CAGR %	26.93	35.13	27.2	6.81	-2.9
Tangible Book Value, 2 Yr. CAGR %	25.71	34.72	27.66	7.52	-2.13
Cash From Operations, 2 Yr. CAGR %	24.39	21.54	21.1	27.05	7.81
Levered Free Cash Flow, 2 Yr. CAGR %	51.29	31.82	19.27	22.47	3.41
Unlevered Free Cash Flow, 2 Yr. CAGR %	44.17	26.47	15.24	19.11	5.14
Dividend Per Share, 2 Yr. CAGR %	6.62	5.83	5.51	5.22	4.86
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	18.96	16.79	18.88	15.09	13.67
Gross Profit, 3 Yr. CAGR %	19.49	16.36	18.13	14.14	13.79
EBITDA, 3 Yr. CAGR %	18.49	15.5	17.55	13.93	14.77
EBITA, 3 Yr. CAGR %	23.44	16.04	16.07	11.39	11.67
EBIT, 3 Yr. CAGR %	20.04	11.19	12.32	11.35	16.73
Earnings From Cont. Operations, 3 Yr. CAGR %	62.1	17.55	18.4	-30.22	-7.92
Net Income, 3 Yr. CAGR %	65.82	14.62	12.83	-48.77	-17.31
Diluted EPS Before Extra, 3 Yr. CAGR %	56.1	2.76	0.58	-55.21	-22.2
Normalized Net Income, 3 Yr. CAGR %	69.68	16.27	-9.57	-18.34	-11.47
Net Property, Plant and Equip., 3 Yr. CAGR %	20.38	26.58	26.58	21.83	8.85
Accounts Receivable, 3 Yr. CAGR %	16.68	16.57	12.64	12.68	10.42
Total Assets, 3 Yr. CAGR %	23.55	27.84	24.54	17.22	7.49
Common Equity, 3 Yr. CAGR %	25.9	30.54	28.86	16.36	3.38
Tangible Book Value, 3 Yr. CAGR %	24.78	29.78	28.83	16.94	4.12
Cash From Operations, 3 Yr. CAGR %	25.09	20.99	23.7	22.71	14.2
Levered Free Cash Flow, 3 Yr. CAGR %	29.59	35.65	30.97	18.09	11.47
Unlevered Free Cash Flow, 3 Yr. CAGR %	27.42	30.26	25.74	14.87	11.17
Dividend Per Share, 3 Yr. CAGR %	7.11	6.3	5.67	5.37	5.03
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	17.61	18.2	18.05	16.68	15.17
Gross Profit, 5 Yr. CAGR %	18.62	18.5	17.58	16.28	15.1
EBITDA, 5 Yr. CAGR %	17.9	17.72	16.98	15.57	15.41
EBITA, 5 Yr. CAGR %	17.51	18.44	18.23	15.03	13.41
EBIT, 5 Yr. CAGR %	15.47	14.81	14.98	13.75	13.77
Earnings From Cont. Operations, 5 Yr. CAGR %	41.43	67.38	28.13	-6.95	4.8
Net Income, 5 Yr. CAGR %	39.83	54.02	25.27	-22.86	-2.32
Diluted EPS Before Extra, 5 Yr. CAGR %	29.82	13.93	14.98	-31.27	-10.43
Normalized Net Income, 5 Yr. CAGR %	35.33	31.06	15.5	2.84	-2.15
Net Property, Plant and Equip., 5 Yr. CAGR %	19.17	22.22	24.52	22.1	16.93
Accounts Receivable, 5 Yr. CAGR %	21.41	19.09	15.41	13.66	12.27
Total Assets, 5 Yr. CAGR %	20.78	23.89	24.03	20.51	15.33
Common Equity, 5 Yr. CAGR %	26.58	28.18	26.42	20.48	15.07
Tangible Book Value, 5 Yr. CAGR %	25.86	27.62	25.92	20.37	15.42
Cash From Operations, 5 Yr. CAGR %	20.83	20.75	23.48	23.38	17.08
Levered Free Cash Flow, 5 Yr. CAGR %	20.13	14.13	25.14	30.16	19.16
Unlevered Free Cash Flow, 5 Yr. CAGR %	19.2	13.54	22.29	25.68	17.06
Dividend Per Share, 5 Yr. CAGR %	6.81	6.76	6.47	5.87	5.35