Safehold Inc. (SAFE) FY2025 10-K Annual Report
Safehold Inc. (SAFE) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 12, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Safehold Inc. FY2025 10-K Analysis
Business Overview
- • Core business model: Real estate investment trust specializing in ground leases
- • Emphasis on portfolio management and business strategy updates in current year
Management Discussion & Analysis
- • Revenue $385.6M, up $19.9M YoY; interest income from sales-type leases $286.1M vs $264.3M; operating lease income $72.1M vs $71.1M
- • Net income $114.6M, up $8.0M YoY; provision for credit losses down to $6.6M from $9.5M; operating margin approx. 26.1% (net income/revenue)
Risk Factors
- • Regulatory/legal risk: Potential adverse environmental liability under changing enforcement of environmental laws affecting real estate assets
- • Geopolitical/macroeconomic threat: 41% revenues from multifamily, 35% from office; office demand decline post-COVID risks rent reductions and defaults
Safehold Inc. FY2025 Key Financial MetricsXBRL
Revenue
$386M
▲ +5.4% YoY
Net Income
$114M
▲ +8.2% YoY
Operating Margin
26.2%
▲ +236bp YoY
Net Margin
29.7%
▲ +77bp YoY
ROE
4.8%
▲ +24bp YoY
Total Assets
$7.2B
▲ +5.1% YoY
EPS (Diluted)
$1.59
▲ +7.4% YoY
Operating Cash Flow
$48M
▲ +26.3% YoY
Source: XBRL data from Safehold Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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