Q3 2026 Revenue up 35% year over year to $72.1M · 38¢ of every $1 of revenue kept as net profit · operating margin 38.0%
Alexanders made $72.1M in Q3 2026 (+35% Y/Y). Operating margin 38.0%, net earnings $27.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
Revenue$72.1M
Year over year+35%
Operating margin38.0%
Net earnings$27.4M
Operating cash flow$16.9M
Drawing the Sankey…
Open the interactive Sankey →click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $72.1M in Q3 2026, up 35% year over year and up 32% from the previous quarter.
Operating profit was $27.4M, a 38.0% margin (up 26.9 points year over year). Of the extra revenue versus Q3 2025, 115% reached operating profit, above the 11% margin then. Total costs fell 6% while revenue rose 35%. The fastest-growing cost line was General & admin (+47%). Net earnings were $27.4M, up 359% year over year. The effective tax rate was 0.0%.
Operating cash flow was $16.9M, 62% of net earnings. Non-cash charges added back $9.6M of depreciation and amortization. Working capital and other items used $20.1M.
Quarterly history
Quarter
Form
Filed
Revenue
Y/Y
Op. margin
Net earnings
Op. cash flow
Q3 2026
10-Q
Nov 2, 2026
$72.1M
+35%
38.0%
$27.4M
$16.9M
Q2 2026
10-Q
Aug 3, 2026
$54.7M
+6%
284.0%
$155M
$6.2M
Q1 2026
10-Q
May 4, 2026
$53.4M
-3%
8.7%
$4.7M
$6.8M
Q4 2025
10-K
Feb 9, 2026
$53.3M
-5%
7.2%
$3.8M
$23.4M
Q3 2025
10-Q
Nov 3, 2025
$53.4M
-4%
11.2%
$6.0M
−$9.3M
Q2 2025
10-Q
Aug 4, 2025
$51.6M
-3%
11.9%
$6.1M
$43.6M
Q1 2025
10-Q
May 5, 2025
$54.9M
-11%
22.4%
$12.3M
$15.7M
Charts
Latest (Q3 2026): Y/Y +35%, Q/Q +32%.From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.Latest (Q3 2026): Net income $27.4M, Operating cash flow $16.9M.+0.3% since FY2020: more shares outstanding (issuance, stock pay).Cash $128M, short-term investments —, long-term debt — at 2025-12-31.Real Estate Investment Trusts; dot size is quarterly revenue; dashed lines are the industry's medians.
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Alexander’s, Inc. (NYSE: ALX) is a real estate investment trust (“REIT”), incorporated in Delaware, engaged in leasing, managing, developing and redeveloping its properties. All references to “we,” “us,” “our,” “Company” and “Alexander’s” refer to Alexander’s, Inc. and its consolidated subsidiaries. We are managed by, and our properties are leased and developed by, Vornado Realty Trust (“Vornado”) (NYSE: VNO). • 731 Lexington Avenue, a 1,080,000 square foot multi-use building, comprising the entire block bounded by Lexington Avenue, East 59 th Street, Third Avenue and East 58 th Street in Manhattan. The building contains 952,000 and 128,000 of rentable square feet of office and retail space, respectively. Bloomberg L.P. (“Bloomberg”) occupies all of the office space.
In its own words, from its 10-K, filed Feb 9, 2026.
Alexanders against its Real Estate Investment Trusts peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +35% against the peers' median +14%. Operating margin: 38.0% against the peers' median 20.6%.