Mackenzie Realty Capital, Inc. (MKZR) vs Safehold Inc. (SAFE)

Mackenzie Realty Capital, Inc. and Safehold Inc. are both Reit Diversified companies. Safehold Inc. is the larger, with a market value of $817.9M against $3.6M — 229.1× the size. Mackenzie Realty Capital, Inc. has negative trailing earnings, so its P/E is not meaningful; Safehold Inc. trades at 7.0×. Safehold Inc. grew revenue faster over the last twelve months: 12.2% against −9.30%. Safehold Inc. has the higher net margin (27.7% vs −95.5%) and the higher return on invested capital (5.53% vs −12.1%). Only Safehold Inc. pays a dividend (6.24%). Across the 19 metrics below, Safehold Inc. leads on 12 and Mackenzie Realty Capital, Inc. on 7.

Valuation

Metric MKZR SAFE Reit Diversified median
P/E n/m 7.00 23.03
P/S 0.13 1.93 3.18
P/B 0.03 0.31 0.87
Price to free cash flow n/m n/m 8.43
EV/EBITDA n/m 5.25 11.70
EV/Sales 0.19 4.20 6.34
Earnings yield (694.49%) 14.29% 1.01%
Free cash flow yield (497.86%) (17.23%) 0.16%

Profitability

Metric MKZR SAFE Reit Diversified median
Gross margin 59.60% 92.63% 77.09%
Operating margin (78.04%) 75.61% 33.33%
Net margin (95.49%) 27.69% 2.62%
Free cash flow margin (62.27%) (33.27%) 3.11%
Return on equity (22.12%) 4.61% 3.13%
Return on assets (8.11%) 1.59% 0.35%
Return on invested capital (12.11%) 5.53% 2.80%

Growth

Metric MKZR SAFE Reit Diversified median
Revenue growth (TTM) (9.30%) 12.15% 5.49%
EPS growth (last fiscal year) 62.18% 7.43% (6.42%)
Revenue growth, 5-year CAGR 5.78% 3.53% 4.83%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric MKZR SAFE Reit Diversified median
Debt to equity 0.13 1.77 1.13
Current ratio 0.08 34.36 1.47
Net debt to EBITDA (0.27) 3.00 5.88

Dividend

Metric MKZR SAFE Reit Diversified median
Dividend yield 0.00% 6.24% 6.39%
Payout ratio — 0.44 1.41

Size

Metric MKZR SAFE Reit Diversified median
Market cap 3.57m 817.93m 795.07m

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