Saturday 31 October 2026 Export ARE’s income statement to Excel — free account

Alexandria Real Estate Equities, Inc.

Alexandria Real Estate Equities, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.0 billion, down 2.88% from fiscal 2024. In the quarter to June 2026, revenue fell 13.0%, EPS grew 32.8%, free cash flow fell 158.1% and total debt fell 3.62%, each against the same quarter a year earlier. Member of the S&P 500; insiders bought in the last twelve months.

40.15 0.45 −1.11%

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Market cap: $7.1B
P/E: 0.0×
Fwd P/E: 0.0×
Dividend yield: 7.17%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Segments Filings

Alexandria Real Estate Equities, Inc. (ARE) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2024: revenue by segment, and margins
Reportable Segment, Aggregation before Other Operating Segment	2,928	93.94%
Other Operating Segment	189	6.06%
Gross margin		70.82%
Operating margin		26.84%
Pre-tax margin		12.01%

Revenue by product or service $m

Line	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Rental revenues	—	—	—	—	—	863 76.52%	674 73.11%
Tenant recoveries	—	—	—	—	—	259 22.97%	224 24.27%
Also reported: a second breakdown of the same revenue
Income from rentals	2,576 99.50%	2,108 99.72%	—	—	—	—	—
Other income	13 0.50%	6 0.28%	7 0.39%	14 0.94%	13 0.96%	6 0.51%	24 2.63%
Income from rentals	—	—	—	—	—	1,122	—
Revenue	2,589	2,114	1,886	1,531	1,327	1,128	922

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022
Reportable Segment, Aggregation before Other Operating Segment	2,835 93.68%	2,928 93.94%	2,706 93.79%	2,454 94.79%
Other Operating Segment	191 6.32%	189 6.06%	179 6.21%	135 5.21%
Revenue	3,027	3,116	2,886	2,589

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022
Reportable Segment, Aggregation before Other Operating Segment	‡	‡	‡	‡
Operating income	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
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	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
2Q24 tenant rents and receivables collected	Q3 FY2026	99.9%	99.9%	—
AFFO a share	Q4 FY2025	$2.16	$2.39	−9.62%
FFO a share	Q3 FY2026	$1.54	$2.22	−30.63%
Lease renewals and re-leasing of space	Q3 FY2026	785.1K	354.4K	+121.54%
Leases with contractual annual rent escalations	Q3 FY2026	97.0%	97.0%	—
Leasing of development and redevelopment space	Q2 FY2026	68.8K	131.8K	−47.81%
Leasing of previously vacant space	Q3 FY2026	451.0K	256.6K	+75.72%
Occupancy – current-period average	Q3 FY2026	88.1%	—	—
Occupancy of operating properties in North America	Q3 FY2026	87.1%	90.6%	—
Operating occupancy including leased but not yet delivered space	Q3 FY2026	90.8%	—	—
Operating properties	Q2 FY2026	36.0M	—	—
Percentage of annual rental revenue in effect from investment-grade or publicly traded large cap tenants	Q3 FY2026	57.0%	53.0%	—
Percentage of annual rental revenue in effect from mega campuses	Q3 FY2026	80.0%	77.0%	—
Placed into service	Q2 FY2026	426.9K	217.8K	+96.04%
Rental rate increase	Q3 FY2026	−2.40%	15.2%	—
Rental rate increase (cash basis)	Q3 FY2026	−3.30%	6.10%	—
Total leasing activity	Q3 FY2026	1.2M	1.2M	+5.52%
Weighted-average remaining lease term: All tenants	Q3 FY2026	7.70	7.50	+2.67%
Weighted-average remaining lease term: Top 20 tenants	Q3 FY2026	10.00	9.40	+6.38%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023
2Q24 tenant rents and receivables collected	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
AFFO a share	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
FFO a share	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Lease renewals and re-leasing of space	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Leases with contractual annual rent escalations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Leasing of development and redevelopment space	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Leasing of previously vacant space	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Occupancy – current-period average	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Occupancy of operating properties in North America	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating occupancy including leased but not yet delivered space	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating properties	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Percentage of annual rental revenue in effect from investment-grade or publicly traded large cap tenants	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Percentage of annual rental revenue in effect from mega campuses	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Placed into service	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Rental rate increase	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Rental rate increase (cash basis)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total leasing activity	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Weighted-average remaining lease term: All tenants	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Weighted-average remaining lease term: Top 20 tenants	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.