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Side-by-side financial comparison of Allstate (ALL) and Alexandria Real Estate Equities (ARE). Click either name above to swap in a different company.
Allstate is the larger business by last-quarter revenue ($922.0M vs $671.0M, roughly 1.4× Alexandria Real Estate Equities). Allstate runs the higher net margin — 266.6% vs 59.4%, a 207.2% gap on every dollar of revenue. On growth, Allstate posted the faster year-over-year revenue change (7.2% vs -11.5%). Over the past eight quarters, Alexandria Real Estate Equities's revenue compounded faster (-6.4% CAGR vs -75.8%).
The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. The company operates through Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability segments. The Allstate Protection segment offers private passenger auto and homeowners insurance; specialty auto products, including motorcycle, trailer, motor home, and off-road vehicle insurance; other personal ...
Alexandria Real Estate Equities, Inc. (NYSE:ARE), an S&P 500® urban office real estate investment trust (REIT), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $31.9 billion as of December 31, 2020, and an asset base in North America of 49.7 million square feet (SF). The asset base in North America includes 31.9...
ALL vs ARE — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $922.0M | $671.0M |
| Net Profit | $2.5B | $398.4M |
| Gross Margin | — | — |
| Operating Margin | -1400.3% | — |
| Net Margin | 266.6% | 59.4% |
| Revenue YoY | 7.2% | -11.5% |
| Net Profit YoY | — | 740.6% |
| EPS (diluted) | $9.25 | $2.10 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $922.0M | $671.0M | ||
| Q4 25 | $17.3B | $754.4M | ||
| Q3 25 | $17.3B | $751.9M | ||
| Q2 25 | $16.6B | $762.0M | ||
| Q1 25 | $16.5B | $758.2M | ||
| Q4 24 | $16.5B | $788.9M | ||
| Q3 24 | $16.6B | $791.6M | ||
| Q2 24 | $15.7B | $766.7M |
| Q1 26 | $2.5B | $398.4M | ||
| Q4 25 | $3.8B | $-1.1B | ||
| Q3 25 | $3.7B | $-232.8M | ||
| Q2 25 | $2.1B | $-107.0M | ||
| Q1 25 | $595.0M | $-8.9M | ||
| Q4 24 | $1.9B | $-62.2M | ||
| Q3 24 | $1.2B | $167.9M | ||
| Q2 24 | $331.0M | $46.7M |
| Q1 26 | -1400.3% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 266.6% | 59.4% | ||
| Q4 25 | 22.1% | -143.3% | ||
| Q3 25 | 21.7% | -31.0% | ||
| Q2 25 | 12.7% | -14.0% | ||
| Q1 25 | 3.6% | -1.2% | ||
| Q4 24 | 11.7% | -7.9% | ||
| Q3 24 | 7.2% | 21.2% | ||
| Q2 24 | 2.1% | 6.1% |
| Q1 26 | $9.25 | $2.10 | ||
| Q4 25 | $14.24 | $-6.35 | ||
| Q3 25 | $13.95 | $-1.38 | ||
| Q2 25 | $7.76 | $-0.64 | ||
| Q1 25 | $2.11 | $-0.07 | ||
| Q4 24 | $7.07 | $-0.38 | ||
| Q3 24 | $4.33 | $0.96 | ||
| Q2 24 | $1.13 | $0.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $418.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $31.6B | $19.4B |
| Total Assets | $124.0B | $34.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $418.7M | ||
| Q4 25 | $4.9B | $549.1M | ||
| Q3 25 | $8.7B | $579.5M | ||
| Q2 25 | $9.6B | $520.5M | ||
| Q1 25 | $6.5B | $476.4M | ||
| Q4 24 | $4.5B | $552.1M | ||
| Q3 24 | $7.0B | $562.6M | ||
| Q2 24 | $5.3B | $561.0M |
| Q1 26 | — | — | ||
| Q4 25 | $7.5B | $12.4B | ||
| Q3 25 | $8.1B | $13.6B | ||
| Q2 25 | $8.1B | $13.3B | ||
| Q1 25 | $8.1B | $13.1B | ||
| Q4 24 | $8.1B | $12.2B | ||
| Q3 24 | $8.1B | $12.7B | ||
| Q2 24 | $8.1B | $12.4B |
| Q1 26 | $31.6B | $19.4B | ||
| Q4 25 | $30.6B | $15.5B | ||
| Q3 25 | $27.5B | $16.6B | ||
| Q2 25 | $24.0B | $17.2B | ||
| Q1 25 | $22.1B | $17.5B | ||
| Q4 24 | $21.4B | $17.9B | ||
| Q3 24 | $20.9B | $18.2B | ||
| Q2 24 | $18.6B | $18.3B |
| Q1 26 | $124.0B | $34.2B | ||
| Q4 25 | $119.8B | $34.1B | ||
| Q3 25 | $120.4B | $37.4B | ||
| Q2 25 | $115.9B | $37.6B | ||
| Q1 25 | $115.2B | $37.6B | ||
| Q4 24 | $111.6B | $37.5B | ||
| Q3 24 | $113.7B | $38.5B | ||
| Q2 24 | $108.4B | $37.8B |
| Q1 26 | — | — | ||
| Q4 25 | 0.24× | 0.80× | ||
| Q3 25 | 0.29× | 0.82× | ||
| Q2 25 | 0.34× | 0.77× | ||
| Q1 25 | 0.37× | 0.75× | ||
| Q4 24 | 0.38× | 0.68× | ||
| Q3 24 | 0.39× | 0.70× | ||
| Q2 24 | 0.43× | 0.68× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $475.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 76.0% |
| Cash ConversionOCF / Net Profit | — | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $475.0M | ||
| Q4 25 | $3.0B | $312.4M | ||
| Q3 25 | $3.3B | $433.5M | ||
| Q2 25 | $1.9B | $460.2M | ||
| Q1 25 | $2.0B | $207.9M | ||
| Q4 24 | $1.7B | $274.2M | ||
| Q3 24 | $3.2B | $477.4M | ||
| Q2 24 | $2.4B | $411.8M |
| Q1 26 | — | — | ||
| Q4 25 | $2.9B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $1.9B | — | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.7B | — | ||
| Q3 24 | $3.1B | — | ||
| Q2 24 | $2.3B | — |
| Q1 26 | — | — | ||
| Q4 25 | 16.7% | — | ||
| Q3 25 | 18.8% | — | ||
| Q2 25 | 11.3% | — | ||
| Q1 25 | 11.4% | — | ||
| Q4 24 | 10.0% | — | ||
| Q3 24 | 18.9% | — | ||
| Q2 24 | 14.7% | — |
| Q1 26 | — | 76.0% | ||
| Q4 25 | 0.5% | — | ||
| Q3 25 | 0.3% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.6% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.4% | — |
| Q1 26 | — | 1.19× | ||
| Q4 25 | 0.78× | — | ||
| Q3 25 | 0.88× | — | ||
| Q2 25 | 0.89× | — | ||
| Q1 25 | 3.30× | — | ||
| Q4 24 | 0.88× | — | ||
| Q3 24 | 2.69× | 2.84× | ||
| Q2 24 | 7.13× | 8.82× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALL
Segment breakdown not available.
ARE
| Same properties | $431.4M | 64% |
| Tenant recoveries | $178.2M | 27% |
| Non-same properties | $43.3M | 6% |
| Other | $18.0M | 3% |
