Safehold (SAFE) Operating Margin (2015 - 2026)
Safehold (SAFE) reported Operating Margin of 23.05% for Q1 2026, down 286.0% year-over-year from 12.39% in Q1 2025, and up 131.02% quarter-over-quarter from 74.3% in Q4 2025.
Safehold (SAFE) Operating Margin (2015 - 2026) Analysis & Trends
Safehold (SAFE) has 12 years of Operating Margin data on file, last reported at 23.05% in Q1 2026.
- Operating Margin for Q1 2026 came in at 23.05%, down 286.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 0.41% (down 2331.0% YoY), and the FY2025 annual result was 0.36%, down 2346.0% from the prior year.
- Operating Margin grew to 23.05% in Q1 2026 per SAFE's latest filing, from 74.3% in the prior quarter.
- Over five years, Operating Margin peaked at 102.02% in Q3 2022 and troughed at 152.22% in Q3 2023.
- A 5-year average of 15.27% and a median of 25.87% in 2025 frame the typical range for Operating Margin.
- The sharpest annual moves came in 2022 and 2024: Operating Margin slumped 49269 bps in 2022, then soared 16972 bps in 2024.
- A 5-year view of Operating Margin shows it stood at 64.05% in 2022, then tumbled by 47 bps to 33.86% in 2023, then decreased by 27 bps to 24.63% in 2024, then plunged by 402 bps to 74.3% in 2025, then surged by 131 bps to 23.05% in 2026.
- Business Quant data shows SAFE's Operating Margin at 23.05% in Q1 2026, 74.3% in Q4 2025, and 25.87% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vici Properties | 29.26 Bn | 28.78 Bn | 1.01 Bn | 97.70% |
| 2 | Broadstone Net Lease | 3.95 Bn | 4.05 Bn | - | - |
| 3 | American Assets Trust | 1.46 Bn | 1.40 Bn | - | 21.09% |
| 4 | Safehold | 1.13 Bn | 1.14 Bn | 109.54 Mn | 23.05% |
| 5 | Empire State Realty Trust | 916.51 Mn | 1.65 Bn | - | 15.48% |
| 6 | JBG SMITH Properties | 880.19 Mn | 1.38 Bn | - | - |
| 7 | CTO Realty Growth | 672.82 Mn | 672.82 Mn | 31.01 Mn | 25.00% |
| 8 | Gladstone Commercial | 608.72 Mn | 778.76 Mn | - | - |
| 9 | AH Realty Trust | 540.92 Mn | 723.25 Mn | - | 22.22% |
| 10 | One Liberty Properties | 510.56 Mn | 490.30 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 23.05% |
| Dec 31, 2025 | -74.30% |
| Sep 30, 2025 | 25.87% |
| Jun 30, 2025 | 25.49% |
| Mar 31, 2025 | 25.90% |
| Dec 31, 2024 | 24.63% |
| Sep 30, 2024 | 17.50% |
| Jun 30, 2024 | 26.69% |
| Mar 31, 2024 | 26.38% |
| Dec 31, 2023 | 33.86% |
| Sep 30, 2023 | -152.22% |
| Jun 30, 2023 | 18.48% |
| Mar 31, 2023 | 3.13% |
| Dec 31, 2022 | 64.05% |
| Sep 30, 2022 | 102.02% |
| Jun 30, 2022 | 31.53% |
| Mar 31, 2022 | 37.49% |
| Dec 31, 2021 | 556.73% |
| Sep 30, 2021 | 25.64% |
| Jun 30, 2021 | -87.22% |