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JBG Smith Properties vs Safehold: JBGS and SAFE compared
JBG Smith Properties is the larger company: $132M of revenue in its latest quarter (Q3 2026) against $119M for Safehold (Q3 2026). Safehold is growing faster (+23% against +7% a year earlier). Safehold is more profitable, with an operating margin of 24.7% against 5.7%.
Where the money goes: JBGS and SAFE
JBG Smith Properties (JBGS) · Q3 2026
JBG Smith Properties, Q3 2026: revenue $132M (+7% year over year), operating margin 5.7%, net loss $100M, operating cash flow $18.7M. The chart follows the revenue to costs, profit and cash.
Safehold (SAFE) · Q3 2026
Safehold, Q3 2026: revenue $119M (+23% year over year), operating margin 24.7%, net earnings $28.8M, operating cash flow $5.5M. The chart follows the revenue to costs, profit and cash.
| JBG Smith Properties (JBGS) | Safehold (SAFE) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $132M | $119M |
| Revenue growth, Y/Y | +7% | +23% |
| Operating margin | 5.7% | 24.7% |
| Net earnings | −$100M | $28.8M |
| Net margin | -75.7% | 24.3% |
| Operating cash flow | $18.7M | $5.5M |
Where the revenue comes from
Safehold
- Ground Leases: $101M (85%)
- Hotel Operations: $18.0M (15%)
Questions
Which is bigger, JBG Smith Properties or Safehold?
JBG Smith Properties is the larger company: $132M of revenue in its latest quarter (Q3 2026) against $119M for Safehold (Q3 2026).
Is JBG Smith Properties or Safehold growing faster?
Safehold is growing faster (+23% against +7% a year earlier).
Which is more profitable, JBG Smith Properties or Safehold?
Safehold is more profitable, with an operating margin of 24.7% against 5.7%.
More: JBG Smith Properties earnings · how JBG Smith Properties makes money · Safehold earnings · how Safehold makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 6, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.