Filing Flows › Safehold (SAFE) › Q3 2026 › vs Q3 2025
Safehold (SAFE) Q3 2026 vs Q3 2025 (year over year)
Safehold's revenue rose $22.5M (+23%) from $96.2M in Q3 2025 to $119M in Q3 2026. Operating margin 24.7% against 25.9% (-1.2 pts).
Safehold, Q3 2026: revenue $119M (+23% year over year), operating margin 24.7%, net earnings $28.8M, operating cash flow $5.5M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 24.7% | 25.9% | -1.2 pts |
| Net margin | 24.3% | 30.5% | -6.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $119M | $96.2M | $22.5M | +23% |
| Other income, net | $3.5M | $4.7M | −$1.1M | -24% |
| Operating profit | $29.3M | $24.9M | $4.4M | +18% |
| Costs & expenses | $89.4M | $71.3M | $18.1M | +25% |
| Pre-tax earnings | $32.8M | $29.5M | $3.3M | +11% |
| Cost of revenue | $786K | $1.4M | −$611K | -44% |
| General & admin | $14.3M | $13.1M | $1.2M | +9% |
| Other operating costs | $74.3M | $56.8M | $17.5M | +31% |
| Net earnings | $28.8M | $29.3M | −$475K | -2% |
| Minority interests | $2.5M | $36K | $2.5M | 71× |
| Income tax | $1.5M | $215K | $1.3M | +590% |
| Operating cash sources | $34.7M | $34.5M | $171K | +0.5% |
| Depreciation & amortization | $1.9M | $2.1M | −$237K | -11% |
| Share-based compensation | $4.0M | $3.1M | $883K | +28% |
| Working capital & other | $29.2M | $35.9M | −$6.7M | -19% |
| Operating cash flow | $5.5M | −$1.4M | $6.9M | — |
Questions
How much did Safehold's revenue grow year over year in Q3 2026?
Safehold's revenue rose $22.5M (+23%) from $96.2M in Q3 2025 to $119M in Q3 2026. Operating margin 24.7% against 25.9% (-1.2 pts).