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Side-by-side financial comparison of Alexandria Real Estate Equities (ARE) and Everus Construction Group, Inc. (ECG). Click either name above to swap in a different company.
Everus Construction Group, Inc. is the larger business by last-quarter revenue ($1.0B vs $671.0M, roughly 1.5× Alexandria Real Estate Equities). Alexandria Real Estate Equities runs the higher net margin — 59.4% vs 5.5%, a 53.9% gap on every dollar of revenue. On growth, Everus Construction Group, Inc. posted the faster year-over-year revenue change (33.2% vs -11.5%). Over the past eight quarters, Everus Construction Group, Inc.'s revenue compounded faster (27.1% CAGR vs -6.4%).
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...
ARE vs ECG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $671.0M | $1.0B |
| Net Profit | $398.4M | $55.3M |
| Gross Margin | — | 11.6% |
| Operating Margin | — | 6.8% |
| Net Margin | 59.4% | 5.5% |
| Revenue YoY | -11.5% | 33.2% |
| Net Profit YoY | 740.6% | 60.4% |
| EPS (diluted) | $2.10 | $1.09 |
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 | $671.0M | — | ||
| Q4 25 | $754.4M | $1.0B | ||
| Q3 25 | $751.9M | $986.8M | ||
| Q2 25 | $762.0M | $921.5M | ||
| Q1 25 | $758.2M | $826.6M | ||
| Q4 24 | $788.9M | $759.6M | ||
| Q3 24 | $791.6M | $761.0M | ||
| Q2 24 | $766.7M | $703.4M |
| Q1 26 | $398.4M | — | ||
| Q4 25 | $-1.1B | $55.3M | ||
| Q3 25 | $-232.8M | $57.0M | ||
| Q2 25 | $-107.0M | $52.8M | ||
| Q1 25 | $-8.9M | $36.7M | ||
| Q4 24 | $-62.2M | $34.5M | ||
| Q3 24 | $167.9M | $41.8M | ||
| Q2 24 | $46.7M | $39.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 11.6% | ||
| Q3 25 | — | 12.6% | ||
| Q2 25 | — | 13.0% | ||
| Q1 25 | — | 11.2% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | — | 11.8% | ||
| Q2 24 | — | 12.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | 7.3% | ||
| Q2 25 | — | 7.9% | ||
| Q1 25 | — | 6.2% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 7.1% | ||
| Q2 24 | — | 7.3% |
| Q1 26 | 59.4% | — | ||
| Q4 25 | -143.3% | 5.5% | ||
| Q3 25 | -31.0% | 5.8% | ||
| Q2 25 | -14.0% | 5.7% | ||
| Q1 25 | -1.2% | 4.4% | ||
| Q4 24 | -7.9% | 4.5% | ||
| Q3 24 | 21.2% | 5.5% | ||
| Q2 24 | 6.1% | 5.5% |
| Q1 26 | $2.10 | — | ||
| Q4 25 | $-6.35 | $1.09 | ||
| Q3 25 | $-1.38 | $1.11 | ||
| Q2 25 | $-0.64 | $1.03 | ||
| Q1 25 | $-0.07 | $0.72 | ||
| Q4 24 | $-0.38 | $0.68 | ||
| Q3 24 | $0.96 | $0.82 | ||
| Q2 24 | $0.25 | $0.76 |
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 | — | $281.5M |
| Stockholders' EquityBook value | $19.4B | $629.8M |
| Total Assets | $34.2B | $1.7B |
| Debt / EquityLower = less leverage | — | 0.45× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $418.7M | — | ||
| Q4 25 | $549.1M | — | ||
| Q3 25 | $579.5M | — | ||
| Q2 25 | $520.5M | — | ||
| Q1 25 | $476.4M | — | ||
| Q4 24 | $552.1M | — | ||
| Q3 24 | $562.6M | $553.0K | ||
| Q2 24 | $561.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | $12.4B | $281.5M | ||
| Q3 25 | $13.6B | $285.1M | ||
| Q2 25 | $13.3B | $288.6M | ||
| Q1 25 | $13.1B | $292.1M | ||
| Q4 24 | $12.2B | $295.6M | ||
| Q3 24 | $12.7B | — | ||
| Q2 24 | $12.4B | — |
| Q1 26 | $19.4B | — | ||
| Q4 25 | $15.5B | $629.8M | ||
| Q3 25 | $16.6B | $573.0M | ||
| Q2 25 | $17.2B | $514.4M | ||
| Q1 25 | $17.5B | $460.2M | ||
| Q4 24 | $17.9B | $422.6M | ||
| Q3 24 | $18.2B | $453.3M | ||
| Q2 24 | $18.3B | $490.0M |
| Q1 26 | $34.2B | — | ||
| Q4 25 | $34.1B | $1.7B | ||
| Q3 25 | $37.4B | $1.6B | ||
| Q2 25 | $37.6B | $1.5B | ||
| Q1 25 | $37.6B | $1.4B | ||
| Q4 24 | $37.5B | $1.3B | ||
| Q3 24 | $38.5B | $1.3B | ||
| Q2 24 | $37.8B | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | 0.45× | ||
| Q3 25 | 0.82× | 0.50× | ||
| Q2 25 | 0.77× | 0.56× | ||
| Q1 25 | 0.75× | 0.63× | ||
| Q4 24 | 0.68× | 0.70× | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 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 | $48.2M |
| Free Cash FlowOCF − Capex | — | $23.5M |
| FCF MarginFCF / Revenue | — | 2.3% |
| Capex IntensityCapex / Revenue | 76.0% | 2.4% |
| Cash ConversionOCF / Net Profit | 1.19× | 0.87× |
| TTM Free Cash FlowTrailing 4 quarters | — | $90.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $475.0M | — | ||
| Q4 25 | $312.4M | $48.2M | ||
| Q3 25 | $433.5M | $76.2M | ||
| Q2 25 | $460.2M | $25.3M | ||
| Q1 25 | $207.9M | $7.1M | ||
| Q4 24 | $274.2M | — | ||
| Q3 24 | $477.4M | $78.9M | ||
| Q2 24 | $411.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $23.5M | ||
| Q3 25 | — | $65.7M | ||
| Q2 25 | — | $12.3M | ||
| Q1 25 | — | $-11.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $60.9M | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.3% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 1.3% | ||
| Q1 25 | — | -1.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 8.0% | ||
| Q2 24 | — | — |
| Q1 26 | 76.0% | — | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | — |
| Q1 26 | 1.19× | — | ||
| Q4 25 | — | 0.87× | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.84× | 1.89× | ||
| Q2 24 | 8.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARE
| Same properties | $431.4M | 64% |
| Tenant recoveries | $178.2M | 27% |
| Non-same properties | $43.3M | 6% |
| Other | $18.0M | 3% |
ECG
| Commercial | $594.5M | 59% |
| Utility | $203.5M | 20% |
| Industrial | $82.8M | 8% |
| Institutional | $66.1M | 7% |
| Service And Other | $28.4M | 3% |
| Transportation | $24.2M | 2% |
| Renewables | $19.8M | 2% |
