Safehold Inc. New (SAFE) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Safehold Inc. New

NYSE•Real Estate•REIT - Diversified

$14.03-0.33(-0.02%)Pre-market

Market Cap

$1.00B

P/E

8.6x

P/S

2.4x

P/B

0.4x

Safehold Inc. is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, affordable housing, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Safehold Inc. was incorporated in 2016 and is based in New York, United States.

How this company scores

WeakMetricSide Score: 51/100

Grade capped at D — Interest coverage below 1× (0.5x) — earnings cannot cover interest. Strongest: Growth (20/25); weakest: Cash & Earnings Quality (3/25).

Profitability19/25

Growth20/25

Balance Sheet & Red Flags9/25

Cash & Earnings Quality3/25

Strengths

Strong marginsProfit converts from growthConsistent growthImproving margins

Grade capped at D

Interest coverage below 1× (0.5x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 8.6x5y range 7.1x – 81.6x

Currently near its 14-quarter median.

P/S · 2.4x5y range 2.4x – 166.1x

Currently below its 20-quarter median.

P/B · 0.4x5y range 0.4x – 10.3x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.

Cash Burn

Red Flag

The last 5 consecutive quarters had negative FCF — the company is burning cash and may need external funding.

Price & Volume

Market Cap $1.00B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $419.53M
Q. Revenue: $114.65M
TTM EBITDA: $113.40M
TTM Op. Income: $105.48M
Q. Op. Income: $28.26M
TTM Net Income: $116.17M
Q. Net Income: $30.16M
EPS: $0.42
Shares Out.: $71.46M

$419.53M in TTM revenue grew 12.1% YoY, reaching $114.65M last quarter. TTM EBITDA of $113.40M and TTM operating income of $105.48M show growth is flowing through to the bottom line. TTM net income of $116.17M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 99.3%
EBITDA Margin: 26.3%
Op. Margin: 24.6%
Net Margin: 26.3%

Op. margin of 24.6% is down 0.8% YoY — costs are rising relative to revenue. Net margin at 26.3% and gross margin of 99.3% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 3% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 8.6x
P/S Ratio: 2.4x
P/B Ratio: 0.4x

At 8.6x P/E, the stock trades below typical market levels. P/S of 2.4x and P/B of 0.4x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has risen for 2 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $7.52B
Cash: $15.92M
Long-Term Debt: $4.65B
Book Value: $2.44B
D/E Ratio: 1.9
Debt/EBITDA: 154.6

With $7.52B in assets and $4.65B in long-term debt, D/E is 1.9and book value is $2.44B — moderate leverage. Over the past year, debt/equity is up 2% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $34.63M
TTM Free Cash Flow: $-249.15M
FCF Margin: -59.4%
FCF / Net Income: -2.1

TTM FCF of $-249.15M on $34.63M in operating cash flow. The FCF / Net Income ratio of -2.1x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 5 consecutive quarters — a weakening trend.