Filing Flows › Safehold (SAFE) › How it makes money
How Safehold (SAFE) makes money
Safehold (SAFE) made $119M of revenue in the third quarter 2026 (Q3 2026). Ground Leases brought in $101M (85%); Hotel Operations brought in $18.0M (15%). Of every dollar of revenue, 25¢ was left as operating profit, 24¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Ground Leases | $101M | 84.8% | +2% | — |
| Hotel Operations | $18.0M | 15.2% | +13% | — |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $119M | 100.0% |
| Operating profit | $29.3M | 24.7% |
| Income tax | $1.5M | 1.3% |
| Net earnings | $28.8M | 24.3% |
| Operating cash flow | $5.5M | 4.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $119M | +23% |
| Q2 2026 | $115M | +22% |
| Q1 2026 | $111M | +14% |
| Q4 2025 | $97.9M | +6% |
| Q3 2025 | $96.2M | +6% |
| Q2 2025 | $93.8M | +4% |
| Q1 2025 | $97.7M | +5% |
From Safehold's 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Safehold make money?
Safehold (SAFE) made $119M of revenue in the third quarter 2026 (Q3 2026). Ground Leases brought in $101M (85%); Hotel Operations brought in $18.0M (15%). Of every dollar of revenue, 25¢ was left as operating profit, 24¢ was left as net earnings.
What is Safehold's biggest business?
Ground Leases: $101M in the third quarter 2026, 85% of revenue.
What is Safehold's profit margin?
Net earnings were $28.8M, 24.3% of revenue, in the third quarter 2026; the operating margin was 24.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.