Aureus
AExcellent

Alexandria Real Estate Equities(ARE)

A

Financial data as of Dec 31, 2025Improving · Real Estate

FCF Margin48.0%Free Cash Flow / Revenue
Cash Conversion-98.9%Operating CF / Net Income
Free Cash Flow$1.4B
Revenue$2.9B
Net Cash-$12.2BNet debt position
Debt / FCF9.0xElevated debt burden
Current Ratio0.43Tight short-term liquidity
YoY FCF Growth+13.9%5 of 5 quarters positive

How This Grade Was Calculated

Base grade from FCF margin, adjusted by financial health factors

BaseA
→
-1High debt-to-FCF ratio (9.0x)
→
+0.5Healthy FCF margin with manageable debt (48.0%, 9.0x)
→
-1Current ratio below 1.0 (0.43)
→
+0.5Modest YoY FCF growth (13.9% YoY)
→
+0.5Highly consistent quarterly FCF
→
FinalA

Analysis Summary

Strengths

  • Exceptional FCF margin (48.0%)
  • Highly consistent quarterly FCF
  • FCF trend is improving

Concerns

  • Heavy debt position ($12.2B)
  • High debt-to-FCF ratio (9.0x)
  • Current ratio below 1.0 — tight short-term liquidity

Financial Breakdown

Key financials compared side by side

Margin Composition

FCF Margin48.0%
Net Margin-48.5%
Operating CF Margin48.0%
CapEx Ratio0.0%

Balance Sheet Health

Debt, liquidity, and leverage snapshot

Net Cash-$12.2BNet debt position
Debt / FCF9.0xElevated debt burden
Current Ratio0.43Tight liquidity
Debt / Equity0.82Low leverage

Quarterly FCF Trend

+13.9% YoYImproving (+13.9%)

Free cash flow per quarter

Sector Comparison — Real Estate

FCF Margin ranked against sector peers

View all →

Detailed Metrics

Company NameAlexandria Real Estate Equities
SectorReal Estate
Free Cash Flow$1.4B
Revenue$2.9B
Net Income-$1.4B
Operating Cash Flow$1.4B
Capital Expenditure$0
FCF Margin48.0%
Cash Conversion Rate-98.9%
Net Margin-48.5%
Total Debt$12.8B
Total Cash$549.1M
Net Cash-$12.2B
Current Ratio0.43
Debt / Equity0.82
Debt / FCF9.0x
YoY FCF Growth+13.9%
Positive Quarters5 of 5
Trend DirectionImproving
Report DateDec 31, 2025
GradeA
Data SourceYahoo Finance