What is Safehold's net debt?

Safehold (SAFE) reported net debt of $4.68B in Q1 2026.

How has Safehold's net debt changed year-over-year?

Safehold's net debt increased by 8.1% year-over-year, from $4.33B to $4.68B.

What is the long-term trend for Safehold's net debt?

Over 5 years (2020 to 2025), Safehold's net debt has grown at a 11.5% compound annual growth rate (CAGR), from $2.65B to $4.57B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Safehold SAFE Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Cabot CorporationCBT

1.1×-0.3×

Travel + LeisureTNL

6×+1.6×

UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

TDA

USA TODAY Co., Inc.TDAY

8.8×+4.2×

Resolute Holdings Management RHLD

11.8×+10.5×

Other financials

Income statement

See full

Revenue$110.9M+13.5%

Gross profit$109.5M+13.5%

Operating income$25.5M+1.0%

Net income$28.9M-1.7%

EPS (diluted)$0.40-2.4%

Balance sheet

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Cash & equivalents$19.3M+11.6%

Total debt$4.7B+8.1%

Total equity$2.4B+3.3%

Total assets$7.4B+6.5%

Cash flow

See full

Operating cash flow-$8.6M-197%

Valuation

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Market cap$1.13B+2.4%

Enterprise value$5.81B+6.9%

P/E9.9×-0.6×

P/S2.8×-0.1×

Profitability

See full

Gross margin98.8%-0.1pp

Operating margin25.4%+1.6pp

Net margin28.6%+0.4pp

FCF margin-13.2%—

Returns & leverage

See full

Return on equity4.8%+0.3pp

Debt / equity1.9×+0.1×

Where this comes from

Calculated from Safehold’s reported figures.

$4.7Btotal debt−$19.3Mcash and equivalents=$4.68B

The official record: Safehold’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Safehold's net debt?: Safehold (SAFE) reported net debt of $4.68B in Q1 2026.
How has Safehold's net debt changed year-over-year?: Safehold's net debt increased by 8.1% year-over-year, from $4.33B to $4.68B.
What is the long-term trend for Safehold's net debt?: Over 5 years (2020 to 2025), Safehold's net debt has grown at a 11.5% compound annual growth rate (CAGR), from $2.65B to $4.57B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.