Filing Flows › Safehold (SAFE) › Q2 2026 › vs Q2 2025
Safehold (SAFE) Q2 2026 vs Q2 2025 (year over year)
Safehold's revenue rose $20.8M (+22%) from $93.8M in Q2 2025 to $115M in Q2 2026. Operating margin 24.6% against 25.5% (-0.8 pts).
Safehold, Q2 2026: revenue $115M (+22% year over year), operating margin 24.6%, net earnings $30.2M, operating cash flow $34.6M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 24.6% | 25.5% | -0.8 pts |
| Net margin | 26.3% | 29.8% | -3.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $115M | $93.8M | $20.8M | +22% |
| Other income, net | $3.9M | $4.9M | −$1.1M | -21% |
| Operating profit | $28.3M | $23.9M | $4.3M | +18% |
| Costs & expenses | $86.4M | $69.9M | $16.5M | +24% |
| Pre-tax earnings | $32.1M | $28.8M | $3.3M | +11% |
| Cost of revenue | $770K | $881K | −$111K | -13% |
| General & admin | $14.3M | $13.0M | $1.4M | +11% |
| Other operating costs | $71.3M | $56.1M | $15.2M | +27% |
| Net earnings | $30.2M | $27.9M | $2.2M | +8% |
| Minority interests | $568K | $22K | $546K | 26× |
| Income tax | $1.4M | $862K | $532K | +62% |
| Depreciation & amortization | $1.8M | $2.1M | −$278K | -13% |
| Share-based compensation | $3.4M | $3.1M | $308K | +10% |
| Working capital & other | $759K | $5.2M | −$4.4M | -85% |
| Operating cash flow | $34.6M | $28.0M | $6.6M | +24% |
Questions
How much did Safehold's revenue grow year over year in Q2 2026?
Safehold's revenue rose $20.8M (+22%) from $93.8M in Q2 2025 to $115M in Q2 2026. Operating margin 24.6% against 25.5% (-0.8 pts).