One Liberty Properties, Inc. (OLP) vs Safehold Inc. (SAFE)

One Liberty Properties, Inc. and Safehold Inc. are both Reit Diversified companies. Safehold Inc. is the larger, with a market value of $876.7M against $490.6M — 1.8× the size. Safehold Inc. trades at the lower P/E: 7.6× against 14.1×. Safehold Inc. grew revenue faster over the last twelve months: 12.2% against 9.52%. One Liberty Properties, Inc. has the higher net margin (32.0% vs 27.7%) and the lower return on invested capital (4.51% vs 5.53%). Both pay a dividend; One Liberty Properties, Inc. yields more (8.91% vs 3.44%). Across the 22 metrics below, Safehold Inc. leads on 16 and One Liberty Properties, Inc. on 6.

Valuation

Metric OLP SAFE Reit Diversified median
P/E 14.14 7.57 23.72
P/S 4.57 2.09 3.28
P/B 1.56 0.33 0.87
Price to free cash flow n/m n/m 9.21
EV/EBITDA 10.42 5.45 11.57
EV/Sales 9.53 4.36 6.64
Earnings yield 7.07% 13.21% 1.04%
Free cash flow yield (10.82%) (15.93%) 0.16%

Profitability

Metric OLP SAFE Reit Diversified median
Gross margin 80.20% 92.63% 77.09%
Operating margin 57.05% 75.61% 33.33%
Net margin 32.03% 27.69% 2.62%
Free cash flow margin (49.38%) (33.27%) 3.11%
Return on equity 10.93% 4.61% 3.13%
Return on assets 3.99% 1.59% 0.35%
Return on invested capital 4.51% 5.53% 2.80%

Growth

Metric OLP SAFE Reit Diversified median
Revenue growth (TTM) 9.52% 12.15% 5.49%
EPS growth (last fiscal year) (17.86%) 7.43% —
Revenue growth, 5-year CAGR 3.49% 3.53% 4.83%
Net income growth, 5-year CAGR (1.58%) 0.00% 0.00%

Health

Metric OLP SAFE Reit Diversified median
Debt to equity 1.73 1.77 1.13
Current ratio 1.62 34.36 1.47
Net debt to EBITDA 6.25 3.00 5.88

Dividend

Metric OLP SAFE Reit Diversified median
Dividend yield 8.91% 3.44% 7.13%
Payout ratio 1.37 7.14 1.37

Size

Metric OLP SAFE Reit Diversified median
Market cap 490.63m 876.71m 729.58m

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