Safehold Inc
Research Safehold Inc (SAFE) on Bullrun: valuation model: 29.2% undervalued, market cap USD 1.10B, P/E 9.6, dividend yield 4.6%. Explore financials, valuation history, model signals, and stock context.
Key Metrics
- TickerSAFE
- ExchangeNYSE
- CountryUnited States
- SectorReal Estate
- IndustryREIT-Diversified
- CurrencyUSD
- Valuation signal29.2% undervalued
- Market capUSD 1.10B
- P/E9.6
- Dividend yield4.6%
- Financial periodQ2 2026
- RevenueUSD 114.65M
- Net incomeUSD 30.16M
- Free cash flowUSD 34.63M
- Gross margin87.2%
Valuation Snapshot
Bullrun's latest valuation model marks Safehold Inc as 29.2% undervalued; latest market cap is USD 1.10B; P/E is 9.6; dividend yield is 4.6%.
Peer valuation comparison
Latest P/E is 9.57x versus a Real Estate sector median of 14.84x (35.5% below).
Latest dividend yield is 4.63% versus a Real Estate sector median of 4.71%.
Five-year financial history
| Year | Revenue | Net income | Free cash flow | Gross margin | Diluted EPS | Cash | Total debt | Equity |
|---|---|---|---|---|---|---|---|---|
| FY2025 | USD 385.55M | USD 114.47M | USD 47.81M | 98.8% | 1.59 | USD 21.71M | USD 4.59B | USD 2.41B |
| FY2024 | USD 365.69M | USD 105.76M | USD 37.86M | 98.8% | 1.48 | USD 8.35M | USD 4.32B | USD 2.34B |
| FY2023 | USD 352.58M | -USD 54.97M | n/a | 98.7% | -0.82 | USD 18.76M | USD 4.05B | USD 2.23B |
| FY2022 | USD 270.31M | USD 135.42M | n/a | 98.8% | 2.17 | USD 20.07M | USD 3.52B | USD 2.14B |
Valuation history
| Year | Snapshot date | Market cap | P/E | Dividend yield | Annual dividend/share |
|---|---|---|---|---|---|
| 2026 | 2026-08-25 | USD 1.10B | 9.6 | 4.6% | 0.71 |
| 2025 | 2025-12-31 | USD 982.34M | 8.6 | 5.3% | 0.72 |
| 2024 | 2024-12-31 | USD 1.32B | 12.3 | 3.9% | 0.72 |
| 2023 | 2023-12-29 | USD 1.66B | n/a | 2.3% | 0.54 |
| 2022 | 2022-12-30 | USD 2.97B | n/a | 4.9% | 2.34 |
| 2021 | 2021-12-31 | USD 7.12B | 15.3 | 2.4% | 3.03 |
Dividend history
Latest trailing dividend snapshot: annual dividend/share 0.71 USD, yield 4.6%.
| Year | Dividends/share |
|---|---|
| FY2025 | 0.71 USD |
| FY2024 | 0.71 USD |
| FY2023 | 0.71 USD |
| FY2022 | 0.7 USD |
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 higher returns with less risk.
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Frequently asked questions
Is Safehold Inc overvalued or undervalued?
Bullrun's valuation model currently marks Safehold Inc as 29.2% undervalued.
What is Safehold Inc's market cap?
Safehold Inc's market capitalization is USD 1.10B.
What is Safehold Inc's P/E ratio?
Safehold Inc's price-to-earnings (P/E) ratio is 9.6.
Does Safehold Inc pay a dividend?
Safehold Inc has a dividend yield of 4.6%.
What does Safehold Inc do?
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.