Income From Rentals was Alexandria Real Estate Equities’s largest product and service line in fiscal 2025, bringing in $8.84B of $9.19B (96%).
| Product and Service | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income From Rentals | $7.73B | $8.53B | $9.15B | $8.84B | ||||||
| Rental Revenues | — | — | — | — | ||||||
| Tenant Recoveries | — | — | — | — | ||||||
| Other Income | $69.41M | $193.95M | $290.15M | $355.18M | ||||||
| Total | $7.80B | $8.72B | $9.44B | $9.19B |
Alexandria Real Estate Equities brought in $9.19B from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was down 2.6% from $9.44B in fiscal 2024. Income From Rentals was the largest at $8.84B (96.1%), ahead of Other Income at $355.18M (3.9%).
Compared with fiscal 2024, Other Income grew 22.4% to $355.18M, while Income From Rentals fell 3.4% to $8.84B. From fiscal 2022 to 2025, combined revenue from these lines grew from $7.80B to $9.19B, a compound annual growth rate of 5.6%. Income From Rentals' share of the total fell from 99.1% to 96.1%.
Reportable Segment, Aggregation Before Other Operating was Alexandria Real Estate Equities’s largest segment in fiscal 2025, bringing in $8.39B of $8.97B (94%).
| Segment | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|
| Reportable Segment, Aggregation Before Other Operating | $7.33B | $8.06B | $8.69B | $8.39B |
| Other Operating | $404.65M | $537.79M | $566.53M | $573.82M |
| Total | $7.74B | $8.59B | $9.26B | $8.97B |
Alexandria Real Estate Equities brought in $8.97B from its two segments in fiscal 2025, the year ended December 31, 2025. That was down 3.1% from $9.26B in fiscal 2024. Reportable Segment, Aggregation Before Other Operating was the largest at $8.39B (93.6%), ahead of Other Operating at $573.82M (6.4%).
Compared with fiscal 2024, Other Operating grew 1.3% to $573.82M, while Reportable Segment, Aggregation Before Other Operating fell 3.4% to $8.39B. From fiscal 2022 to 2025, combined revenue from these segments grew from $7.74B to $8.97B, a compound annual growth rate of 5.1%. Reportable Segment, Aggregation Before Other Operating's share of the total fell from 94.8% to 93.6%.
Combined Non- Guarantor Subsidiaries was Alexandria Real Estate Equities’s largest revenue line in fiscal 2017, bringing in $3.40B of $3.44B (99%).
| Legal Entity | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Combined Non- Guarantor Subsidiaries | $2.20B | $2.54B | $2.77B | $3.40B | ||||
| Real Estate Revenue, Net | — | — | — | — | ||||
| Alexandria Real Estate Equities, Inc. (Issuer) | $36.02M | $38.83M | $31.82M | $45.71M | ||||
| Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary) | -$9.83M | -$615.00K | $441.00K | -$7.73M | ||||
| Eliminations | — | — | — | — | ||||
| Total | $2.22B | $2.58B | $2.81B | $3.44B |
Alexandria Real Estate Equities brought in $3.44B from its three revenue lines in fiscal 2017, the year ended December 31, 2017. That was up 22.5% from $2.81B in fiscal 2016. Combined Non- Guarantor Subsidiaries was the largest at $3.40B (98.9%), ahead of Alexandria Real Estate Equities, Inc. (Issuer) at $45.71M (1.3%).
From fiscal 2014 to 2017, combined revenue from these revenue lines grew from $2.22B to $3.44B, a compound annual growth rate of 15.6%. Combined Non- Guarantor Subsidiaries' share held steady at about 98.9%.
The total is net of Alexandria Real Estate Equities, L.P. (Guarantor Subsidiary), which took $7.73M off revenue in fiscal 2017.
Alexandria Real Estate Equities (ARE) reports its revenue by product and service, by segment and by legal entity. In fiscal 2025, Income From Rentals was its largest product and service line, bringing in $8.84B (96.1% of the total), followed by Other Income at $355.18M (3.9%).
Income From Rentals was Alexandria Real Estate Equities' largest product and service line in fiscal 2025, bringing in $8.84B, or 96.1% of the $9.19B total across its two product and service lines.
Reportable Segment, Aggregation Before Other Operating was Alexandria Real Estate Equities' largest segment in fiscal 2025, bringing in $8.39B, or 93.6% of the $8.97B total across its two segments.
Combined Non- Guarantor Subsidiaries was Alexandria Real Estate Equities' largest revenue line in fiscal 2017, bringing in $3.40B, or 98.9% of the $3.44B total across its three revenue lines.
Other Income grew faster than Income From Rentals in fiscal 2025, up 22.4% from $290.15M to $355.18M. Income From Rentals fell 3.4% to $8.84B.
Every figure comes from Alexandria Real Estate Equities' annual financial filings, as reported. Each line keeps the name Alexandria Real Estate Equities gives it, and years follow its fiscal calendar.
Alexandria Real Estate Equities' revenue by product and service goes back to fiscal 2016, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.