The full income statement, balance sheet, and cash-flow statement for Alexandria Real Estate Equities (ARE), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 3.03B-2.9% | 3.12B+8.0% | 2.89B+11.5% | 2.59B+22.5% | 2.11B+12.1% | ||
| Lease income | 2.89B-3.8% | 3.01B+7.2% | 2.80B+10.6% | 2.53B+21.8% | 2.08B+12.2% | |
| Selling, general & administrative | 117M-30.5% | 168M-15.5% | 199M+12.5% | 177M+17.0% | 151M+13.6% | |
| General & administrative | 117M-30.5% | 168M-15.5% | 199M+12.5% | 177M+17.0% | 151M+13.6% | |
| Provision for credit losses | 295K | — | — | — | — | |
| Interest expense | 227M+22.0% | 186M+150.4% | 74.2M-21.2% | 94.2M-33.7% | 142M-17.2% | |
| Equity-method income | -9.63M-236.4% | 7.06M+620.3% | 980K+51.9% | 645K-94.7% | 12.3M+50.4% | |
| Gain (loss) on equity securities | -56.3M-6.1% | -53.1M+72.8% | -195M+41.1% | -332M-227.9% | 259M-38.4% | |
| -1.43B-542.7% | 323M+211.6% | 104M-80.1% | 522M-8.7% | 571M-25.9% | ||
| Net income to non-controlling interest | 213M+13.3% | 188M+5.9% | 177M+19.0% | 149M+79.5% | 83.0M+47.7% | |
| Preferred dividends | — | — | — | — | 0.00 | |
| Net income to common | -1.44B-564.5% | 310M+234.9% | 92.4M-82.0% | 513M-8.9% | 563M-26.9% | |
| -$8.44-568.9% | $1.80+233.3% | $0.54-83.0% | $3.18-16.8% | $3.82-36.4% | ||
| EPS (basic) | -$8.44-568.9% | $1.80+233.3% | $0.54-83.0% | $3.18-17.0% | $3.83-36.5% | |
| Weighted-avg shares (basic) | 170M-1.0% | 172M+0.7% | 171M+5.7% | 162M+10.0% | 147M+16.5% | |
| Weighted-avg shares (diluted) | 170M-1.0% | 172M+0.7% | 171M+5.7% | 162M+9.6% | 147M+16.6% | |
| Dividends per share | $4.68-9.8% | $5.19+4.6% | $4.96+5.1% | $4.72+5.4% | $4.48+5.7% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Cash & equivalents | 549M-0.6% | 552M-10.7% | 618M-25.1% | 825M+128.4% | 361M-36.4% | |
| 34.1B-9.2% | 37.5B+2.1% | 36.8B+3.5% | 35.5B+17.6% | 30.2B+32.4% | ||
| Property, plant & equipment | 70.3M+77.7% | 39.6M+48.9% | 26.6M+14.6% | 23.2M-12.3% | 26.4M-15.1% | |
| Operating lease right-of-use | 698M-8.7% | 764M+48.0% | 516M-7.5% | 558M+17.7% | 474M+41.2% | |
| Short-term & current debt | 353M | 0.00-100.0% | 100.0M | 0.00-100.0% | 270M+170.0% | |
| 14.9B-1.3% | 15.1B+6.9% | 14.1B+10.2% | 12.8B+14.8% | 11.2B+19.2% | ||
| Long-term debt | 12.0B-1.6% | 12.2B+9.2% | 11.2B+10.4% | 10.2B+19.2% | 8.52B+14.2% | |
| Operating lease liability (total) | 361M-28.9% | 507M+32.4% | 383M-5.9% | 407M-6.5% | 435M+25.7% | |
| 15.5B-13.5% | 17.9B-3.2% | 18.5B-2.6% | 19.0B+17.2% | 16.2B+38.1% | ||
| Common stock | 1.71M-1.0% | 1.72M+0.2% | 1.72M+0.7% | 1.71M+8.0% | 1.58M+15.6% | |
| Additional paid-in capital | 15.5B-13.6% | 17.9B-3.0% | 18.5B-2.7% | 19.0B+17.3% | 16.2B+38.1% | |
| Accumulated other comprehensive income | -29.4M+36.4% | -46.3M-191.0% | -15.9M+23.6% | -20.8M-185.3% | -7.29M-10.1% | |
| Non-controlling interest | 3.63B-19.2% | 4.49B+8.6% | 4.14B+11.7% | 3.70B+30.6% | 2.83B+66.1% | |
| Total equity incl. non-controlling | 19.1B-14.7% | 22.4B-1.0% | 22.6B-0.3% | 22.7B+19.2% | 19.0B+41.6% | |
| Total liabilities & equity | 34.1B-9.2% | 37.5B+2.1% | 36.8B+3.5% | 35.5B+17.6% | 30.2B+32.4% | |
| Common shares issued | 171M-1.0% | 172M+0.2% | 172M+0.7% | 171M+8.0% | 158M+15.6% | |
| Common shares outstanding | 171M-1.0% | 172M+0.2% | 172M+0.7% | 171M+8.0% | 158M+15.6% | |
| Shares outstanding (cover) | 173M+0.1% | 173M-1.1% | 175M+1.1% | 173M+8.2% | 160M+17.0% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.41B-6.0% | 1.50B-7.7% | 1.63B+26.0% | 1.29B+28.1% | 1.01B+14.5% | ||
| Depreciation & amortization | 1.35B+12.3% | 1.20B+10.0% | 1.09B+9.1% | 1.00B+22.1% | 821M+17.6% | |
| Share-based compensation | 41.1M-31.0% | 59.6M-28.0% | 82.9M+43.5% | 57.7M+18.6% | 48.7M+11.9% | |
| 362M+124.0% | -1.51B+39.6% | -2.50B+50.8% | -5.08B+28.5% | -7.11B-116.8% | ||
| Capital expenditure | 1.87B-22.8% | 2.42B-29.1% | 3.42B+3.4% | 3.31B+58.3% | 2.09B+44.6% | |
| Free cash flow | -457M+50.2% | -918M+48.6% | -1.79B+11.2% | -2.01B-86.4% | -1.08B-91.9% | |
| Acquisitions | — | 0.00 | 0.00 | 0.00 | — | |
| Purchases of investments | 239M+1.0% | 236M+24.7% | 189M-22.0% | 243M-40.5% | 409M+133.9% | |
| Sales/maturities of investments | 169M-2.8% | 174M-5.2% | 183M-7.5% | 198M-53.3% | 425M+200.8% | |
| -1.78B-1811.6% | -93.3M-113.8% | 674M-84.1% | 4.23B-28.5% | 5.92B+115.1% | ||
| Long-term debt issued | 549M-45.1% | 999M+0.3% | 996M-44.4% | 1.79B+2.8% | 1.74B+2.7% | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00-100.0% | 27.1M-73.9% | 104M-95.6% | 2.35B-33.5% | 3.53B+52.4% | |
| Common stock repurchased | 208M+315.5% | 50.1M | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 911M+1.4% | 899M+6.0% | 847M+11.8% | 758M+15.5% | 656M+23.1% | |
| FX effect on cash | 1.56M+208.4% | -1.44M-11.4% | -1.29M-45.5% | -887K+48.2% | -1.71M-650.5% | |
| Net change in cash | -6.09M+94.0% | -101M+48.8% | -197M-144.5% | 443M+342.6% | -182M-151.4% | |
| Interest paid | 204M+27.5% | 160M+243.6% | 46.6M-26.3% | 63.2M-54.7% | 139M-13.6% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 8.48B-49.8% | 16.9B-23.4% | 22.0B-7.8% | 23.9B-33.0% | 35.7B+46.4% | |
| P/E | — | 52.3×-41.5% | 89.4×+102.8% | 44.1×-29.4% | 62.4×+97.6% | |
| P/S | 2.8×-48.3% | 5.4×-31.2% | 7.9×-17.8% | 9.6×-43.2% | 16.9×+30.6% | |
| P/B | 0.5×-41.9% | 0.9×-20.2% | 1.2×-12.8% | 1.4×-38.4% | 2.2×+6.0% | |
| Earnings yield | — | 1.9%+71.0% | 1.1%-50.7% | 2.3%+41.6% | 1.6%-49.4% | |
| Dividend yield | 9.6%+79.7% | 5.3%+36.0% | 3.9%+20.8% | 3.2%+61.3% | 2.0%-15.5% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
Source: ARE’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all ARE filings on SEC EDGAR → Not investment advice.
