Safehold Inc. New Financial Ratios — SAFE Stock

Profitability (USD)

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	- -	4.44	- -	3.3	3.83	4.8	4.78	7.08	-2.51	4.62	4.82
Return on Assets (%)	- -	4.41	- -	1.37	1.56	2.05	1.89	2.61	-0.89	1.57	1.62
Return on Capital (%)	- -	9.97	- -	3.44	3.05	4.45	4.09	5.06	- -	4.61	4.67
Return on Invested Capital (%)	- -	4.44	- -	1.53	2.14	2.03	1.75	2.69	- -	1.31	1.45
Gross Margin (%)	98.83	96.04	- -	96.78	97.14	98.4	98.58	98.85	98.68	98.84	98.77
EBITDA Margin (%)	49.5	46.78	- -	47.45	51.43	43.92	41.41	54.58	-18.39	27.17	28.99
Operating Margin (%)	69.73	68.33	- -	56.95	71.64	77.71	78.09	81.01	76.53	78.51	80.75
Incremental Operating Margin (%)	- -	60.13	- -	- -	88.36	86.85	79.95	87.56	61.83	131.74	121.99
Pretax Margin (%)	30.79	30.42	- -	24	36.11	38.27	39.23	53.52	-14.99	30.1	30.49
Profit Margin (%)	28.81	30.42	- -	23.61	29.65	38.15	39.1	50.1	-15.59	28.92	29.69
Net Income to Common Margin (%)	28.81	30.42	- -	23.61	29.65	38.15	39.1	50.1	-15.59	28.92	29.69
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	3.13	2.49
Dvd Payout Ratio (%)	- -	- -	- -	90.07	41.8	53.62	48.85	27.4	-85.01	47.07	44.36
Sustainable Growth Rate (%)	- -	4.44	- -	0.33	2.23	2.23	2.44	5.14	-4.65	2.45	2.68

Credit (USD)

Credit Ratios API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	- -	- -	307	544	1,379	1,690	2,703	3,527	3,970	4,228	4,492
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	- -	- -	307	544	1,379	1,690	2,703	3,527	3,970	4,228	4,492
Total Debt/EBITDA	- -	- -	- -	23.05	28.71	24.76	34.9	23.9	-61.24	42.56	40.19
Net Debt/EBITDA	- -	- -	- -	22.36	28.11	23.84	34.45	23.73	-60.7	42.37	39.95
Total Debt/EBIT	- -	- -	- -	45.57	38.15	30.09	41.29	26	-51.51	48.55	44.52
Net Debt/EBIT	- -	- -	- -	44.2	37.36	28.97	40.76	25.82	-51.06	48.33	44.24
EBITDA to Interest Expense	1.27	1.23	- -	1.53	1.61	1.06	0.97	1.14	-0.36	0.5	0.54
EBITDA-CapEx/Interest Expense	1.27	1.23	- -	1.53	-44.08	-6.31	-14.69	1.14	-0.36	0.5	0.54
EBIT to Interest Expense	1.79	1.8	- -	1.84	2.24	1.88	1.83	1.7	1.49	1.45	1.51
Interest Expense	7	8	- -	15	30	64	80	129	181	198	207
Common Equity/Total Assets	99.84	98.99	48.86	36.27	42.54	42.98	37.25	36.6	34.07	33.97	33.22
Long-Term Debt/Equity (%)	- -	- -	86.27	152.22	126.11	122.38	160.4	162.93	172.94	178.09	184.09
Long-Term Debt/Capital (%)	- -	- -	46.32	60.35	55.77	55.03	61.6	61.97	63.36	64.04	64.8
Long-Term Debt/Total Assets (%)	- -	- -	42.15	55.52	53.72	52.68	59.86	60.28	60.63	61.28	61.96
Total Debt/Equity (%)	- -	- -	86.27	152.22	126.11	122.38	160.4	162.93	172.94	178.09	184.09
Total Debt/Capital (%)	- -	- -	46.32	60.35	55.77	55.03	61.6	61.97	63.36	64.04	64.8
Total Debt/Total Assets (%)	- -	- -	42.15	55.52	53.72	52.68	59.86	60.28	60.63	61.28	61.96
Net Debt to Equity	-0.02	- -	39.01	147.62	123.5	117.84	158.31	161.75	171.44	177.3	182.97
Net Debt/Capital (%)	-0.02	- -	28.06	59.62	55.13	53.99	61.21	61.74	63	63.84	64.61
EBITDA	9	10	- -	24	48	68	77	148	-65	99	112
EBITDA-CapEx	9	10	- -	24	-1,317	-406	-1,171	148	-65	99	112
Operating Income (Loss)	13	15	- -	28	67	121	146	219	270	287	311

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	0.1	- -	27.49	1.76	1.19	1.74	0.61	0.25	0.28	0.13	0.17
Current Ratio	29.49	8.01	28.89	5.3	26.36	23.4	19.52	19.62	19.51	18.56	17.88
Quick Ratio	29.49	8.01	28.16	4.24	25.02	22.19	19.29	19.21	19.21	18.48	17.81
CFO/Avg Current Liab	- -	6.39	- -	1.75	-0.14	1.38	0.66	1	0.17	0.35	0.38
Common Equity/Total Assets	99.84	98.99	48.86	36.27	42.54	42.98	37.25	36.6	34.07	33.97	33.22
Long-Term Debt/Equity (%)	- -	- -	86.27	152.22	126.11	122.38	160.4	162.93	172.94	178.09	184.09
Long-Term Debt/Capital (%)	- -	- -	46.32	60.35	55.77	55.03	61.6	61.97	63.36	64.04	64.8
Long-Term Debt/Total Assets (%)	- -	- -	42.15	55.52	53.72	52.68	59.86	60.28	60.63	61.28	61.96
Total Debt/Equity (%)	- -	- -	86.27	152.22	126.11	122.38	160.4	162.93	172.94	178.09	184.09
Total Debt/Capital (%)	- -	- -	46.32	60.35	55.77	55.03	61.6	61.97	63.36	64.04	64.8
Total Debt/Total Assets (%)	- -	- -	42.15	55.52	53.72	52.68	59.86	60.28	60.63	61.28	61.96
CFO/Total Liabilities	2,213.66	347.72	- -	2.17	-0.13	1.95	0.95	1.76	0.36	0.84	0.99
CFO/CapEx	- -	- -	- -	- -	- -	0.08	0.02	- -	- -	- -	- -
Altman's Z-Score	- -	- -	- -	2.32	5.29	8.41	6.42	2.35	0.8	0.76	0.75

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	2.34	- -	3.65	2.29	2.05	1.78	2.03	2.14	1.87	1.71
Days Sales Outstanding	- -	155.93	- -	99.96	159.14	178.02	205.53	179.71	170.24	195.04	213.89
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	2,001	2,149	12,035	24,106	28,256	11,161	1,663	1,320	982
- Cash & Cash Equivalents	- -	- -	168	16	23	57	30	20	19	8	22
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	2	1	2	3	23	64	30	32
+ Total Debt	- -	- -	307	544	1,379	1,690	2,703	3,527	3,970	4,228	4,492
Enterprise Value	- -	- -	2,140	2,678	13,393	25,741	30,933	14,691	5,669	5,562	5,482
Total Capital	144	154	663	901	2,472	3,072	4,388	5,691	6,266	6,602	6,931
Total Debt/Capital (%)	- -	- -	46.32	60.35	55.77	55.03	61.6	61.97	63.36	64.04	64.8
Total Debt / EV	- -	- -	0.14	0.2	0.1	0.07	0.09	0.24	0.7	0.76	0.82
EV/Sales	- -	- -	- -	53.86	143.4	165.62	165.4	54.35	16.08	15.21	14.22
EV/EBITDA	- -	- -	- -	113.5	278.84	377.08	399.41	99.57	- -	55.99	49.05
EV/EBIT	- -	- -	- -	224.37	370.56	458.16	472.54	108.32	- -	63.88	54.33
EV/Cash Flow to Firm	- -	- -	- -	92.61	479.94	257.25	290.11	75.8	- -	24.22	21.98
EV/Free Cash Flow to Firm	- -	- -	- -	92.61	- -	- -	- -	75.8	- -	24.22	21.98
Diluted Market Cap	- -	- -	1,250	2,142	7,810	22,969	27,580	11,161	1,561	1,320	983
Diluted Enterprise Value	- -	- -	1,389	2,671	9,168	24,605	30,256	14,691	5,567	5,563	5,482
EV per Share	- -	- -	117.63	146.54	280.29	483.81	546.33	235.45	79.76	77.86	76.39
TTM Sales	19	22	- -	50	93	155	187	270	353	366	386
TTM EBITDA	9	10	- -	24	48	68	77	148	-65	99	112
TTM Operating Income	13	15	- -	28	67	121	146	219	270	287	311
TTM Cash Flow to Firm	12	14	- -	29	28	100	107	194	- -	230	249
TTM Free Cash Flow to Firm	12	14	- -	29	-1,337	-374	-1,141	194	- -	230	249

Multiples (USD)

Valuation Multiples API ChatGPT

	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	158.32	-5.71	-52.4	-22.59	172.1	101.39	34.88	20.55
EV/EBIT	- -	- -	- -	224.37	370.56	458.16	472.54	108.32	- -	63.88	54.33
Enterprise Value	- -	- -	2,140	2,678	13,393	25,741	30,933	14,691	5,669	5,562	5,482
Low Price	- -	- -	107.94	97.31	103.31	242.81	414.75	147.78	15	17.91	12.76
EV/Sales	- -	- -	- -	53.86	143.4	165.62	165.4	54.35	16.08	15.21	14.22
EV/EBITDA	- -	- -	- -	113.5	278.84	377.08	399.41	99.57	- -	55.99	49.05
Price/Earnings	- -	- -	- -	182.43	282.03	387.3	377.08	82.41	- -	12.47	8.57
Price/Earnings Average	- -	- -	- -	173.41	197.55	304.37	361.66	124.16	- -	14.41	9.81
Price/Earnings High	- -	- -	- -	195.62	300.99	403.01	449.99	232.26	- -	19.43	12.23
Price/Earnings Low	- -	- -	- -	151.01	115.68	207.57	313.38	68.09	- -	12.09	7.99
Price/Book Value	- -	- -	5.62	6.05	11.02	17.48	16.8	5.21	0.75	0.56	0.41
Price/Book Value Average	- -	- -	5.98	5.75	7.72	13.74	16.11	7.85	2.06	0.65	0.47
Price/Book Value High	- -	- -	6.39	6.48	11.76	18.19	20.04	14.69	7.32	0.88	0.58
Price/Book Value Low	- -	- -	5.52	5	4.52	9.37	13.96	4.31	0.48	0.55	0.38
Price/Tangible Book Value	- -	- -	9.21	23.15	14.18	21.2	19.38	5.8	0.82	0.62	0.45
Price/Tangible Book Value Average	- -	- -	9.8	22	9.93	16.66	18.59	8.74	2.27	0.71	0.51
Price/Tangible Book Value High	- -	- -	10.47	24.82	15.13	22.06	23.13	16.35	8.08	0.96	0.64
Price/Tangible Book Value Low	- -	- -	9.04	19.16	5.81	11.36	16.11	4.79	0.53	0.6	0.42
Price/Sales	- -	- -	- -	43.07	83.62	147.75	147.44	41.29	4.43	3.61	2.55
Price/Sales Average	- -	- -	- -	40.94	58.58	116.12	141.41	62.2	12.21	4.17	2.91
Price/Sales High	- -	- -	- -	46.19	89.25	153.75	175.95	116.36	43.46	5.62	3.63
Price/Sales Low	- -	- -	- -	35.65	34.3	79.19	122.53	34.11	2.84	3.5	2.37
Price/Cash Flow	- -	- -	- -	158.32	-3,978.68	643.07	1,024.38	172.09	101.39	34.84	20.53
Price/Cash Flow Average	- -	- -	- -	150.49	-2,786.9	505.38	982.49	259.27	279.69	40.25	23.48
Price/Cash Flow High	- -	- -	- -	169.77	-4,246.22	669.16	1,222.46	485.01	995.52	54.3	29.28
Price/Cash Flow Low	- -	- -	- -	131.05	-1,631.95	344.65	851.32	142.18	65	33.77	19.13
Price/Free Cash Flow Average	- -	- -	- -	150.49	-4	-41.18	-21.66	259.28	279.69	40.3	23.51
Price/Free Cash Flow High	- -	- -	- -	169.77	-6.1	-54.52	-26.95	485.02	995.52	54.36	29.32
Price/Free Cash Flow Low	- -	- -	- -	131.05	-2.34	-28.08	-18.77	142.18	65	33.8	19.16
EV/Sales Average	- -	- -	- -	51.72	104.8	132.41	159.22	75.27	24.37	15.77	14.58
EV/Sales High	- -	- -	- -	56.98	152.06	171.91	194.62	129.43	57.68	17.23	15.3
EV/Sales Low	- -	- -	- -	46.42	67.39	93.64	139.88	47.17	14.39	15.1	14.04
EV/EBITDA Average	- -	- -	- -	109	203.78	301.47	384.49	137.89	- -	58.06	50.32
EV/EBITDA High	- -	- -	- -	120.08	295.69	391.4	469.95	237.12	- -	63.42	52.8
EV/EBITDA Low	- -	- -	- -	97.81	131.04	213.21	337.77	86.42	- -	55.58	48.45
EV/EBIT Average	- -	- -	- -	215.48	270.81	366.29	454.89	150.01	- -	66.23	55.73
EV/EBIT High	- -	- -	- -	237.39	392.95	475.56	556	257.95	- -	72.34	58.48
EV/EBIT Low	- -	- -	- -	193.37	174.15	259.06	399.61	94.01	- -	63.41	53.67
Last Price	- -	- -	110	117.56	251.87	453.06	499.06	178.88	23.4	18.48	13.69
High Price	- -	- -	125	126.06	268.81	471.44	595.56	504.13	229.75	28.8	19.53
Enterprise Value Average	- -	- -	2,267	2,572	9,788	20,580	29,777	20,345	8,594	5,767	5,623
Enterprise Value High	- -	- -	2,413	2,833	14,202	26,719	36,397	34,986	20,336	6,300	5,901
Enterprise Value Low	- -	- -	2,102	2,308	6,294	14,555	26,159	12,751	5,072	5,522	5,415

Shares Outstanding	18	18	18	18	48	53	57	62	71	71	72
Diluted Weighted Avg Shares	18	18	11	18	31	51	55	62	67	71	72
Basic Weighted Avg Shares	18	18	11	18	31	51	55	62	67	71	72
Revenue per Share	1.02	1.2	- -	2.73	3.01	3.07	3.38	4.33	5.29	5.12	5.38
EBITDA per Share	0.51	0.56	- -	1.3	1.55	1.35	1.4	2.36	-0.97	1.39	1.56
Operating Income per Share	0.71	0.82	- -	1.55	2.16	2.38	2.64	3.51	4.05	4.02	4.34
Basic EPS, GAAP	0.29	0.36	- -	0.64	0.89	1.17	1.32	2.17	-0.82	1.48	1.6
Basic EPS from Cont Ops	0.31	0.36	- -	0.66	1.09	1.17	1.33	2.32	-0.82	1.49	1.6
Diluted EPS, GAAP	0.29	0.36	- -	0.64	0.89	1.17	1.32	2.17	-0.82	1.48	1.59
Diluted EPS from Cont Ops	0.31	0.36	- -	0.66	1.09	1.17	1.33	2.32	-0.82	1.49	1.6
Dividend per Share	- -	- -	- -	0.6	0.54	0.63	0.65	0.68	0.69	0.71	0.71
Cash Flow per Share	0.28	0.3	- -	0.74	-0.06	0.7	0.49	1.04	0.23	0.53	0.67
Free Cash Flow per Basic Share	0.28	0.3	- -	0.74	-44.07	-8.65	-22.1	1.04	0.23	0.53	0.67
Cash & Equivalents per Share	- -	- -	9.25	0.9	0.48	1.07	0.52	0.32	0.4	0.22	0.33
Book Value per Share	7.92	8.47	19.57	19.44	22.85	25.92	29.71	34.32	31.39	32.81	33.56
Tangible Book Value per Share	7.91	6.67	11.94	5.08	17.77	21.37	25.75	30.83	28.42	29.89	30.72

Safehold Inc. New

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)