Alexandria Real Estate - Public Comps and Valuation Multiples

Alexandria Real Estate Overview

About Alexandria Real Estate

Alexandria Real Estate Equities Inc is an urban office real estate investment trust (REIT). It is engaged in the business of providing space for lease to life science, agtech, and technology tenants. The company has established a market presence in key locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle, Texas, and Canada. The Company is a life science real estate investment trust focused on developing, redeveloping, and operating properties that provide space for lease to tenants in the life science industry.

Founded

1994

HQ

Employees

514

Website

are.com

Sectors

Buildings & Property

Financials

LTM Revenue $2.5B

LTM EBITDA $1.9B

EV

$20.9B

Valuation Multiples

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Alexandria Real Estate Financials

As of January 2026, Alexandria Real Estate reported last 12-month revenue of $2.5B and EBITDA of $1.9B.

In the same period, Alexandria Real Estate generated $1.5B in LTM gross profit and -$319M in net income.

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Alexandria Real Estate P&L

In the most recent fiscal year, Alexandria Real Estate reported revenue of $2.9B and EBITDA of $360M.

Alexandria Real Estate expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue	$2.5B	XXX	$2.9B	XXX	XXX	XXX
Gross Profit	$1.5B	XXX	$2.0B	XXX	XXX	XXX
Gross Margin	62%	XXX	69%	XXX	XXX	XXX
EBITDA	$1.9B	XXX	$360M	XXX	XXX	XXX
EBITDA Margin	79%	XXX	12%	XXX	XXX	XXX
EBIT	$449M	XXX	$555M	XXX	XXX	XXX
EBIT Margin	18%	XXX	19%	XXX	XXX	XXX
Net Profit	-$319M	XXX	-$1.4B	XXX	XXX	XXX
Net Margin	-13%	XXX	-49%	XXX	XXX	XXX
Net Debt	XXX	XXX	$11.9B	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Alexandria Real Estate including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $2.5B. EBITDA for the last twelve months was $1.9B. In the most recent fiscal year, Alexandria Real Estate achieved $2.9B in revenue and $360M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2026)	Next Fiscal Year (2027)	Two Years Forward (2028)
Total Revenue	$2.5B	Analyst estimates available to subscribers	$2.9B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$1.5B	Analyst estimates available to subscribers	$2.0B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	62.3% gross margin	Analyst estimates available to subscribers	68.7% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$1.9B	Analyst estimates available to subscribers	$360M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	78.9% EBITDA margin	Analyst estimates available to subscribers	12.2% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$449M	Analyst estimates available to subscribers	$555M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	18.3% EBIT margin	Analyst estimates available to subscribers	18.8% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$319M	Analyst estimates available to subscribers	-$1.4B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-13.0% net profit margin	Analyst estimates available to subscribers	-48.5% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$11.9B	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Alexandria Real Estate

This financial data table provides comprehensive performance metrics for Alexandria Real Estate, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Alexandria Real Estate generated $2.5B in revenue over the last twelve months.
The company achieved $1.9B in EBITDA over the last twelve months.
Gross profit for the last twelve months was $1.5B.
Net income over the last twelve months reached -$319M.

Fiscal Year Performance

In the most recent fiscal year, Alexandria Real Estate reported $2.9B in total revenue.
Fiscal year EBITDA was $360M.
The company maintained a gross profit margin of 68.7% in the most recent fiscal year.
EBITDA margin for the fiscal year was 12.2%.
Net profit margin reached -48.5% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Alexandria Real Estate. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Alexandria Real Estate Stock Performance

Alexandria Real Estate has current market cap of $8.7B, and EV of $20.9B.

Market Cap Evolution

Alexandria Real Estate Stock Data

As of February 13, 2026, Alexandria Real Estate's stock price is $50.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$20.9B	$8.7B	XXX	XXX	XXX	XXX	$-1.85

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Alexandria Real Estate Valuation Multiples

Alexandria Real Estate's trades at 8.5x EV/Revenue multiple, and 10.8x EV/EBITDA.

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Alexandria Real Estate Financial Valuation Multiples

As of February 13, 2026, Alexandria Real Estate has market cap of $8.7B and EV of $20.9B.

Equity research analysts estimate Alexandria Real Estate's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Alexandria Real Estate has a P/E ratio of -27.4x.

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Market cap (current)	$8.7B	XXX	$8.7B	XXX	XXX	XXX
EV (current)	$20.9B	XXX	$20.9B	XXX	XXX	XXX
EV/Revenue	8.5x	XXX	8.5x	XXX	XXX	XXX
EV/EBITDA	10.8x	XXX	10.8x	XXX	XXX	XXX
EV/EBIT	46.7x	XXX	46.7x	XXX	XXX	XXX
EV/Gross Profit	13.7x	XXX	n/a	XXX	XXX	XXX
P/E	-27.4x	XXX	-27.4x	XXX	XXX	XXX
EV/FCF	25.1x	XXX	25.1x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Alexandria Real Estate Margins & Growth Rates

Alexandria Real Estate's last 12 month revenue growth is -25%

Alexandria Real Estate's revenue per employee in the last FY averaged $5.7M, while opex per employee averaged $2.9M for the same period.

Alexandria Real Estate's rule of 40 is 37% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Alexandria Real Estate's rule of X is 16% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Alexandria Real Estate Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2026	FY 2027	FY 2028
Revenue Growth	-25%	XXX	-16%	XXX	XXX	XXX
EBITDA Margin	79%	XXX	79%	XXX	XXX	XXX
EBITDA Growth	-18%	XXX	1%	XXX	XXX	XXX
Rule of 40	37%	XXX	54%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	16%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$5.7M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$2.9M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	50%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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