Alexandria Real Estate Equities, Inc. (ARE) vs SL Green Realty Corporation (SLG)

Alexandria Real Estate Equities, Inc. and SL Green Realty Corporation are both Reit Office companies. Alexandria Real Estate Equities, Inc. is the larger, with a market value of $9.1B against $3.9B — 2.3× the size. SL Green Realty Corporation grew revenue faster over the last twelve months: 8.46% against −8.40%. SL Green Realty Corporation has the higher net margin (−18.4% vs −36.3%) and the lower return on invested capital (0.34% vs 1.06%). Both pay a dividend; SL Green Realty Corporation yields more (6.74% vs 4.37%). Across the 20 metrics below, Alexandria Real Estate Equities, Inc. leads on 13 and SL Green Realty Corporation on 7.

Valuation

Metric ARE SLG Reit Office median
P/E n/m n/m 38.94
P/S 3.00 3.47 2.92
P/B 0.44 0.86 0.78
Price to free cash flow 4.96 n/m 14.22
EV/EBITDA 11.58 23.66 12.77
EV/Sales 7.35 7.36 7.03
Earnings yield (12.14%) (5.33%) (3.43%)
Free cash flow yield 20.14% (10.90%) 5.85%

Profitability

Metric ARE SLG Reit Office median
Gross margin 68.20% 46.91% 60.53%
Operating margin 18.87% 4.47% 16.84%
Net margin (36.32%) (18.35%) (8.23%)
Free cash flow margin 60.45% (37.83%) 16.39%
Return on equity (5.05%) (4.67%) (2.66%)
Return on assets (2.86%) (1.65%) (0.95%)
Return on invested capital 1.06% 0.34% 1.32%

Growth

Metric ARE SLG Reit Office median
Revenue growth (TTM) (8.40%) 8.46% 1.08%
EPS growth (last fiscal year) (568.89%) (2,112.50%) —
Revenue growth, 5-year CAGR 9.93% (0.96%) 4.37%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ARE SLG Reit Office median
Debt to equity 0.67 1.00 1.20
Current ratio 0.19 3.10 2.43
Net debt to EBITDA 6.02 9.87 6.91

Dividend

Metric ARE SLG Reit Office median
Dividend yield 4.37% 6.74% 6.16%
Payout ratio 1.43 0.87 1.38

Size

Metric ARE SLG Reit Office median
Market cap 9.08b 3.89b 1.39b

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