Safehold Inc (SAFE) - Net Assets
Based on the latest financial reports, Safehold Inc (SAFE) has net assets worth $2.44 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($7.25 Billion) and total liabilities ($4.81 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how resilient are Safehold Inc's assets to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.44 Billion |
| % of Total Assets | 33.66% |
| Annual Growth Rate | 3.34% |
| 5-Year Change | 44.78% |
| 10-Year Change | 1483.4% |
| Growth Volatility | 53.26 |
Safehold Inc - Net Assets Trend (1998–2025)
This chart illustrates how Safehold Inc's net assets have evolved over time, based on quarterly financial data. Also explore SAFE total asset value for the complete picture of this company's asset base.
Annual Net Assets for Safehold Inc (1998–2025)
The table below shows the annual net assets of Safehold Inc from 1998 to 2025. For live valuation and market cap data, see market value of Safehold Inc.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $2.44 Billion | +2.77% |
| 2024-12-31 | $2.37 Billion | +3.41% |
| 2023-12-31 | $2.30 Billion | +60.89% |
| 2022-12-31 | $1.43 Billion | -15.33% |
| 2021-12-31 | $1.69 Billion | +22.00% |
| 2020-12-31 | $1.38 Billion | +26.34% |
| 2019-12-31 | $1.09 Billion | +205.94% |
| 2018-12-31 | $357.36 Million | +0.40% |
| 2017-12-31 | $355.94 Million | +130.99% |
| 2016-12-31 | $154.09 Million | +6.99% |
| 2015-12-31 | $144.03 Million | -88.32% |
| 2014-12-31 | $1.23 Billion | -5.28% |
| 2013-12-31 | $1.30 Billion | -0.89% |
| 2012-12-31 | $1.31 Billion | -16.55% |
| 2011-12-31 | $1.57 Billion | -7.14% |
| 2010-12-31 | $1.69 Billion | -11.54% |
| 2009-12-31 | $1.92 Billion | -31.11% |
| 2008-12-31 | $2.78 Billion | -5.85% |
| 2007-12-31 | $2.95 Billion | -2.39% |
| 2006-12-31 | $3.03 Billion | +13.20% |
| 2005-12-31 | $2.67 Billion | +2.22% |
| 2004-12-31 | $2.61 Billion | +2.66% |
| 2003-12-31 | $2.55 Billion | +18.45% |
| 2002-12-31 | $2.15 Billion | +14.17% |
| 2001-12-31 | $1.88 Billion | -1.03% |
| 2000-12-31 | $1.90 Billion | -0.50% |
| 1999-12-31 | $1.91 Billion | +90.50% |
| 1998-12-31 | $1.00 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Safehold Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 16653700000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $165.74 Million | 6.88% |
| Common Stock | $717.00K | 0.03% |
| Other Comprehensive Income | $42.59 Million | 1.77% |
| Other Components | $2.20 Billion | 91.32% |
| Total Equity | $2.41 Billion | 100.00% |
Safehold Inc Competitors by Market Cap
The table below lists competitors of Safehold Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Yuhuan CNC Machine Tool Co Ltd
SHE:002903
|
$1.06 Billion |
|
Appotronics Corp Ltd
SHG:688007
|
$1.06 Billion |
|
Metsa Board Oyj B
HE:METSB
|
$1.06 Billion |
|
Ningbo Donly Co Ltd
SHE:002164
|
$1.06 Billion |
|
Norion Bank
ST:NORION
|
$1.06 Billion |
|
Gilat Satellite Networks Ltd
TA:GILT
|
$1.06 Billion |
|
BioPharma Credit PLC
LSE:BPCR
|
$1.06 Billion |
|
Jeju Semiconductor Corp
KQ:080220
|
$1.06 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Safehold Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,344,018,000 to 2,408,311,000, a change of 64,293,000 (2.7%).
- Net income of 114,469,000 contributed positively to equity growth.
- Dividend payments of 50,924,000 reduced retained earnings.
- Other comprehensive income decreased equity by 6,400,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $114.47 Million | +4.75% |
| Dividends Paid | $50.92 Million | -2.11% |
| Other Comprehensive Income | $-6.40 Million | -0.27% |
| Other Changes | $7.15 Million | +0.3% |
| Total Change | $- | 2.74% |
Book Value vs Market Value Analysis
This analysis compares Safehold Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.45x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has increased from 0.04x to 0.45x over the analyzed period, suggesting growing market confidence.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1989-12-31 | $431.71 | $15.13 | x |
| 1990-12-31 | $426.81 | $15.13 | x |
| 1991-12-31 | $422.88 | $15.13 | x |
| 1992-12-31 | $366.95 | $15.13 | x |
| 1993-12-31 | $24.53 | $15.13 | x |
| 1994-12-31 | $22.57 | $15.13 | x |
| 1995-12-31 | $21.59 | $15.13 | x |
| 1996-12-31 | $15.70 | $15.13 | x |
| 1997-12-31 | $21.23 | $15.13 | x |
| 1998-12-31 | $136.35 | $15.13 | x |
| 1999-12-31 | $186.39 | $15.13 | x |
| 2000-12-31 | $129.88 | $15.13 | x |
| 2001-12-31 | $126.79 | $15.13 | x |
| 2002-12-31 | $136.62 | $15.13 | x |
| 2003-12-31 | $145.01 | $15.13 | x |
| 2004-12-31 | $136.45 | $15.13 | x |
| 2005-12-31 | $134.49 | $15.13 | x |
| 2006-12-31 | $160.63 | $15.13 | x |
| 2007-12-31 | $141.81 | $15.13 | x |
| 2008-12-31 | $113.86 | $15.13 | x |
| 2009-12-31 | $100.28 | $15.13 | x |
| 2010-12-31 | $110.47 | $15.13 | x |
| 2011-12-31 | $107.71 | $15.13 | x |
| 2012-12-31 | $92.47 | $15.13 | x |
| 2013-12-31 | $91.43 | $15.13 | x |
| 2014-12-31 | $86.84 | $15.13 | x |
| 2015-12-31 | $7.92 | $15.13 | x |
| 2016-12-31 | $8.47 | $15.13 | x |
| 2017-12-31 | $31.32 | $15.13 | x |
| 2018-12-31 | $19.62 | $15.13 | x |
| 2019-12-31 | $84.71 | $15.13 | x |
| 2020-12-31 | $114.07 | $15.13 | x |
| 2021-12-31 | $146.63 | $15.13 | x |
| 2022-12-31 | $110.48 | $15.13 | x |
| 2023-12-31 | $33.46 | $15.13 | x |
| 2024-12-31 | $32.81 | $15.13 | x |
| 2025-12-31 | $33.55 | $15.13 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Safehold Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 4.75%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 29.69%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 3.01x
- Recent ROE (4.75%) is below the historical average (6.31%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1989 | 7.73% | 87.18% | 0.08x | 1.05x | $-1.00 Million |
| 1990 | 10.80% | 88.68% | 0.12x | 1.04x | $350.00K |
| 1991 | 11.14% | 88.89% | 0.12x | 1.04x | $490.00K |
| 1992 | -1.34% | -9.62% | 0.13x | 1.07x | $-4.24 Million |
| 1993 | 148.00% | 77.08% | 1.78x | 1.08x | $3.45 Million |
| 1994 | -13.04% | 0.00% | 0.00x | 1.04x | $-530.00K |
| 1995 | -4.55% | -100.00% | 0.05x | 1.00x | $-320.00K |
| 1996 | -37.50% | -300.00% | 0.04x | 3.56x | $-760.00K |
| 1998 | 6.17% | 71.82% | 0.04x | 2.12x | $-37.17 Million |
| 1999 | 2.16% | 22.41% | 0.05x | 2.12x | $-141.23 Million |
| 2000 | 12.17% | 72.32% | 0.07x | 2.26x | $38.80 Million |
| 2001 | 12.86% | 72.94% | 0.07x | 2.45x | $51.13 Million |
| 2002 | 10.03% | 59.46% | 0.06x | 2.77x | $574.00K |
| 2003 | 12.10% | 71.74% | 0.06x | 2.76x | $50.63 Million |
| 2004 | 10.61% | 55.85% | 0.06x | 2.94x | $14.92 Million |
| 2005 | 11.77% | 58.94% | 0.06x | 3.49x | $43.25 Million |
| 2006 | 12.55% | 66.60% | 0.05x | 3.70x | $76.14 Million |
| 2007 | 8.24% | 28.88% | 0.05x | 5.47x | $-50.99 Million |
| 2008 | -8.24% | -68.48% | 0.02x | 6.40x | $-435.73 Million |
| 2009 | -47.88% | -80.12% | 0.07x | 7.98x | $-929.34 Million |
| 2010 | 4.83% | 14.68% | 0.06x | 5.57x | $-85.13 Million |
| 2011 | -1.44% | -25.07% | 0.01x | 4.92x | $-174.90 Million |
| 2012 | -19.37% | -59.91% | 0.07x | 4.96x | $-363.82 Million |
| 2013 | -9.00% | -28.65% | 0.07x | 4.54x | $-236.28 Million |
| 2014 | 0.07% | 0.19% | 0.08x | 4.61x | $-117.28 Million |
| 2015 | 3.71% | 28.81% | 0.13x | 1.00x | $-9.05 Million |
| 2016 | 4.29% | 30.42% | 0.14x | 1.01x | $-8.79 Million |
| 2017 | 49.36% | 25.87% | 0.93x | 2.05x | $140.09 Million |
| 2018 | 3.29% | 23.61% | 0.05x | 2.74x | $-24.00 Million |
| 2019 | 2.53% | 29.65% | 0.04x | 2.35x | $-81.64 Million |
| 2020 | 4.29% | 37.36% | 0.05x | 2.32x | $-78.84 Million |
| 2021 | 4.34% | 39.10% | 0.04x | 2.68x | $-95.40 Million |
| 2022 | 9.49% | 50.10% | 0.08x | 2.28x | $-7.27 Million |
| 2023 | -2.46% | -15.59% | 0.05x | 2.93x | $-278.10 Million |
| 2024 | 4.51% | 28.92% | 0.05x | 2.94x | $-128.64 Million |
| 2025 | 4.75% | 29.69% | 0.05x | 3.01x | $-126.36 Million |
Industry Comparison
This section compares Safehold Inc's net assets metrics with peer companies in the REIT - Diversified industry.
Industry Context
- Industry: REIT - Diversified
- Average net assets among peers: $729,558,951
- Average return on equity (ROE) among peers: -2.52%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Safehold Inc (SAFE) | $2.44 Billion | 7.73% | 1.97x | $1.06 Billion |
| American Assets Trust Inc (AAT) | $1.19 Billion | 3.72% | 1.52x | $1.29 Billion |
| Armada Hflr Pr (AHH) | $455.89 Million | 3.77% | 1.78x | $487.33 Million |
| Broadstone Net Lease Inc (BNL) | $2.74 Billion | 3.74% | 0.68x | $3.79 Billion |
| CTO Realty Growth Inc (CTO) | $117.81 Million | 4.10% | 0.47x | $623.55 Million |
| Empire State Realty Trust Inc (ESRT) | $1.98 Billion | 2.64% | 0.96x | $966.25 Million |
| FrontView REIT, Inc. (FVR) | $522.68 Million | -4.25% | 0.57x | $294.35 Million |
| Generation Income Properties Inc (GIPR) | $680.82K | -22.20% | 0.02x | $1.40 Million |
| Global Net Lease, Inc. (GNL) | $-796.00K | 0.00% | 0.00x | $1.98 Billion |
| Gladstone Commercial Corporation (GOOD) | $266.80 Million | 2.23% | 2.48x | $588.44 Million |
| Medalist Diversified Reit Inc (MDRR) | $23.00 Million | -18.98% | 3.02x | $12.40 Million |
About Safehold Inc
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 highe… Read more