SAFESafehold Inc.
Real Estate Investment Trusts
- Revenue
- $386M
- 5.4% YoY
- Operating margin
- 26.2%
- 9.9% YoY
- EBITDA
- $109M
- 13% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 42.4×
- $4.6B net debt
- AI in 10-K
- —
Red flags 2 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashFired42% of net incomeCash flow under 80% of net income
- Dilutive SBCClear3% of revenueOver 10% of revenue
- Payouts exceed cash flowFired363% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear2% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $187M | $270M | $353M | $366M | $386M | 5.4% |
| Operating income | $65M | $136M | −$77M | $87M | $101M | 16% |
| Net income | $73M | $135M | −$55M | $106M | $114M | 8.2% |
| Operating cash flow | $27M | $65M | $15M | $38M | $48M | 26% |
| Stock-based comp | $2M | $2M | $23M | $14M | $13M | 8.8% |
| Buybacks | $123M | — | — | — | — | |
| Dividends | $35M | $30M | $46M | $51M | $51M | 0.7% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $138K · 1
- Net
- −$138K
Pay vs performance
No pay-versus-performance disclosure yet.