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 $876.7M against $540.6M — 1.6× the size. Safehold Inc. trades at the lower P/E: 7.6× against 596×. Safehold Inc. grew revenue faster over the last twelve months: 12.2% against 6.61%. Safehold Inc. has the higher net margin (27.7% vs 1.15%) and the higher return on invested capital (5.53% vs 1.05%). Across the 19 metrics below, Safehold Inc. leads on 15 and FrontView REIT, Inc. on 4.

Valuation

Metric FVR SAFE Reit Diversified median
P/E 596.33 7.57 23.72
P/S 5.88 2.09 3.28
P/B 0.77 0.33 0.87
Price to free cash flow 9.44 n/m 9.21
EV/EBITDA 14.52 5.45 11.57
EV/Sales 10.52 4.36 6.64
Earnings yield 0.17% 13.21% 1.04%
Free cash flow yield 10.60% (15.93%) 0.16%

Profitability

Metric FVR SAFE Reit Diversified median
Gross margin 86.69% 92.63% 77.09%
Operating margin 20.49% 75.61% 33.33%
Net margin 1.15% 27.69% 2.62%
Free cash flow margin 62.31% (33.27%) 3.11%
Return on equity 0.15% 4.61% 3.13%
Return on assets 0.09% 1.59% 0.35%
Return on invested capital 1.05% 5.53% 2.80%

Growth

Metric FVR SAFE Reit Diversified median
Revenue growth (TTM) 6.61% 12.15% 5.49%
EPS growth (last fiscal year) 77.08% 7.43% —
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 0.62 1.77 1.13
Current ratio 0.57 34.36 1.47
Net debt to EBITDA 6.09 3.00 5.88

Dividend

Metric FVR SAFE Reit Diversified median
Dividend yield — 3.44% 7.13%
Payout ratio — 7.14 1.37

Size

Metric FVR SAFE Reit Diversified median
Market cap 540.59m 876.71m 729.58m

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