Company Analysis

Safehold Inc. (SAFE)

NYSE: SAFE · Real Estate Investment Trusts · New York, NY · filing with the SEC since 1999
Grade4.9
◀ Past 3.1● Present 5.2▶ Future 6.1

The grade of Safehold Inc.

Nine metrics read from its own filings, by tense
Headline grade
4.9/10
◀ Past3.125% of the headline
● Present5.245% of the headline
▶ Future6.130% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

All nine metrics read as filed from the record.

◀ Past

What did they actually do?

3.1/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed
2.0/10

Has it survived what it has been through?

2 warning events since 2017; the latest 2022-08-25.

weight 45% of this tense · 20th percentile among 174 sector filers · read for itself

From the record

Safehold Inc.'s filings since 2017 show 2 warning events of 2 kinds: a notice about its exchange listing (8-K item 3.01, the latest 2022-08-25); an auditor change (8-K item 4.01, the latest 2017-11-28) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
2.6/10

What has it actually done, year after year?

-1.8% a year over 10 filed years; profitable in 7 of 10.

weight 33% of this tense · 26th percentile among 156 sector filers · read for its customers

From the record

Safehold Inc.'s 10 filed years say what it did: revenue went from $455 million in fiscal 2016 to $386 million in fiscal 2025, down 1.8% a year; it rose in 7 of 9 years; the deepest fall was 77% from fiscal 2018 to fiscal 2021; net income was positive in 7 of 10 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span-1.8%bottom 13% of its family
  • the share of years revenue rosetop 49% of its family
  • the share of filed years with a profitbottom 32% of its family
  • the deepest fall from a revenue peak76.6%bottom 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
6.2/10

How has it treated the people who own it?

Share count grew 4.8% a year. 100% of cash flow returned. Insiders: 1 sales, 0 purchases.

weight 22% of this tense · 62nd percentile among 156 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Safehold Inc.'s diluted share count grew about 4.8% a year, and dividends and buybacks returned about 100% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 1 sale and 0 purchases of their own stock on the open market in the year to 2026-11-12 (their Form 4 filings).

What it rests on

  • the share count over the yearsbottom 33% of its family
  • cash returned against operating cash flowtop 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

5.2/1045% of the headline grade · 3 of 3 filed

Financial health

as filed
4.0/10

Is it financially healthy right now?

ROE 5%: 5¢ of profit per shareholder dollar. Leverage 66%: owes 66¢ per asset dollar.

weight 45% of this tense · 40th percentile among 171 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Safehold Inc. earned about 5 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 5 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 66 cents per dollar of assets, and net share issuance: its share count grew 0.5% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 40% of its family
  • return on equitybottom 48% of its family
  • gross profit against assetsbottom 12% of its family
  • the share count against the year beforetop 42% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
6.3/10

How strong is its position in its industry?

top 37% of 157 in its family; net margin 29.7%.

weight 33% of this tense · 63rd percentile among 157 sector filers · read for its customers

From the record

Safehold Inc.'s standing among 157 graded names in its industry family: revenue of $386 million in fiscal 2025 ranks in the bottom 40% by size; a net margin of 29.7% ranks in the top 28%; revenue growth of 12.6% a year over the last 3 filed years ranks in the top 22% (its annual reports).

What it rests on

  • revenue against the family$386Mbottom 40% of its family
  • net margin29.7%top 28% of its family
  • three-year revenue growth12.6%top 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
5.8/10

What are the people in charge doing?

top 42% of 160 in its family for leadership; chief executive since 2006.

weight 22% of this tense · 58th percentile among 160 sector filers · read for its shareholders

From the record

Safehold Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Sugarman, Jay (CHAIRMAN AND CEO, as filed), filing under that title since 2006-03-03, 20.7 years (top 9% of its family); the 8 officers and directors filing in the last fifteen months have been on the record a median of 10 years (top 24%); 7 officer or director changes were reported on Form 8-K since 2023-11-13, against the 8 people in charge now (bottom 7%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge7 in three years among 8 peoplebottom 7% of its family
  • the median years the people in charge have filed10.0 yearstop 24% of its family
  • the chief executive's years on the record20.7 yearstop 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

6.1/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
4.3/10

How much room does it have to grow?

bottom 43% of 146 in its family for room to expand.

weight 22% of this tense · 43rd percentile among 146 sector filers · read for itself

From the record

Safehold Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $22 million against debt of $4.6 billion leaves -63% of its assets as net cash, bottom 11% of its family; cash from operations less capital spending is 12.4% of revenue (bottom 24%); a gross margin of 98.8% (top 7%) (its annual report).

What it rests on

  • cash less debt against assets-63.0%bottom 11% of its family
  • cash from operations less capital spending against revenue12.4%bottom 24% of its family
  • gross margin98.8%top 7% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
7.9/10

What could actually drive growth from here?

top 21% of 153 in its family for growth drivers.

weight 33% of this tense · 79th percentile among 153 sector filers · read for its customers

From the record

Safehold Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 12.6% a year over the last three filed years against -1.8% over all 10, speeding up (top 6% of its family); the newest year grew 5.4% (top 37%) (its annual reports). Safehold Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+14.4 points a yeartop 6% of its family
  • the newest year's revenue growth5.4%top 37% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
5.8/10

Did its newest year beat what its own record pointed to?

top 42% of 150 in its family for expectations against reality.

weight 45% of this tense · 58th percentile among 150 sector filers · read for its shareholders

From the record

Safehold Inc.'s newest year against its own record: revenue of $386 million in fiscal 2025 came in 9.3% below the $425 million its prior three years' pace pointed to (bottom 22% of its family); net income of $114 million against a prior three-year average of $62 million (top 25%); a net margin of 29.7% against 21.1% before (top 25%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-9.3%bottom 22% of its family
  • net income against the prior three years' average+84%top 25% of its family
  • net margin against its prior average+8.5 pointstop 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton SAFE · research, not advice