FrontView REIT, Inc. (FVR) vs Safehold Inc. (SAFE)

FrontView REIT, Inc. and Safehold Inc. are both Reit Diversified companies. Safehold Inc. is the larger, with a market value of $752.8M against $568.2M — 1.3× the size. FrontView REIT, Inc. has negative trailing earnings, so its P/E is not meaningful; Safehold Inc. trades at 6.4×. Safehold Inc. grew revenue faster over the last twelve months: 16.5% against 7.89%. Safehold Inc. has the higher net margin (26.2% vs 0.00%) and the higher return on invested capital (5.49% vs 0.00%). Both pay a dividend; Safehold Inc. yields more (6.67% vs 4.52%). Across the 19 metrics below, Safehold Inc. leads on 17 and FrontView REIT, Inc. on 2.

Valuation

Metric FVR SAFE Reit Diversified median
P/E n/m 6.42 22.49
P/S 6.54 1.70 2.94
P/B 0.81 0.28 0.94
Price to free cash flow 10.78 n/m 8.81
EV/EBITDA 15.33 5.29 12.28
EV/Sales 10.82 4.02 6.39
Earnings yield (0.42%) 15.57% 1.18%
Free cash flow yield 9.28% (17.65%) 2.24%

Profitability

Metric FVR SAFE Reit Diversified median
Gross margin 0.00% 89.81% 74.61%
Operating margin 0.00% 73.05% 31.87%
Net margin 0.00% 26.17% 0.20%
Free cash flow margin 0.00% 9.92% 4.96%
Return on equity 0.00% 4.56% 1.07%
Return on assets 0.00% 1.56% 0.04%
Return on invested capital 0.00% 5.49% 2.71%

Growth

Metric FVR SAFE Reit Diversified median
Revenue growth (TTM) 7.89% 16.47% 3.37%
EPS growth (last fiscal year) (15.79%) 7.43% (13.25%)
Revenue growth, 5-year CAGR — 3.53% 4.83%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric FVR SAFE Reit Diversified median
Debt to equity 0.54 1.81 1.03
Current ratio 0.00 34.05 1.25
Net debt to EBITDA 6.09 3.00 5.88

Dividend

Metric FVR SAFE Reit Diversified median
Dividend yield 4.52% 6.67% 6.60%
Payout ratio 28.67 0.43 1.59

Size

Metric FVR SAFE Reit Diversified median
Market cap 568.19m 752.78m 777.86m

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