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Side-by-side financial comparison of Alexandria Real Estate Equities (ARE) and Fabrinet (FN). Click either name above to swap in a different company.
Fabrinet is the larger business by last-quarter revenue ($1.1B vs $671.0M, roughly 1.7× Alexandria Real Estate Equities). Alexandria Real Estate Equities runs the higher net margin — 59.4% vs 9.9%, a 49.4% gap on every dollar of revenue. On growth, Fabrinet posted the faster year-over-year revenue change (35.9% vs -11.5%). Over the past eight quarters, Fabrinet's revenue compounded faster (24.4% 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...
FabrinetFNEarnings & Financial Report
Below is a list of companies having stocks that are included in the S&P MidCap 400 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-cap, mostly American, companies. Although called the S&P 400, the index sometimes contains more than 400 stocks when it includes two or more share classes of stock from one of its component companies.
ARE vs FN — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $671.0M | $1.1B |
| Net Profit | $398.4M | $112.6M |
| Gross Margin | — | 12.2% |
| Operating Margin | — | 10.1% |
| Net Margin | 59.4% | 9.9% |
| Revenue YoY | -11.5% | 35.9% |
| Net Profit YoY | 740.6% | 30.0% |
| EPS (diluted) | $2.10 | $3.11 |
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 | $1.1B | ||
| Q3 25 | $751.9M | $978.1M | ||
| Q2 25 | $762.0M | $909.7M | ||
| Q1 25 | $758.2M | $871.8M | ||
| Q4 24 | $788.9M | $833.6M | ||
| Q3 24 | $791.6M | $804.2M | ||
| Q2 24 | $766.7M | $753.3M |
| Q1 26 | $398.4M | — | ||
| Q4 25 | $-1.1B | $112.6M | ||
| Q3 25 | $-232.8M | $95.9M | ||
| Q2 25 | $-107.0M | $87.2M | ||
| Q1 25 | $-8.9M | $81.3M | ||
| Q4 24 | $-62.2M | $86.6M | ||
| Q3 24 | $167.9M | $77.4M | ||
| Q2 24 | $46.7M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 12.2% | ||
| Q3 25 | — | 11.9% | ||
| Q2 25 | — | 12.2% | ||
| Q1 25 | — | 11.7% | ||
| Q4 24 | — | 12.1% | ||
| Q3 24 | — | 12.3% | ||
| Q2 24 | — | 12.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 10.1% | ||
| Q3 25 | — | 9.6% | ||
| Q2 25 | — | 9.8% | ||
| Q1 25 | — | 9.0% | ||
| Q4 24 | — | 9.5% | ||
| Q3 24 | — | 9.6% | ||
| Q2 24 | — | 9.7% |
| Q1 26 | 59.4% | — | ||
| Q4 25 | -143.3% | 9.9% | ||
| Q3 25 | -31.0% | 9.8% | ||
| Q2 25 | -14.0% | 9.6% | ||
| Q1 25 | -1.2% | 9.3% | ||
| Q4 24 | -7.9% | 10.4% | ||
| Q3 24 | 21.2% | 9.6% | ||
| Q2 24 | 6.1% | 10.8% |
| Q1 26 | $2.10 | — | ||
| Q4 25 | $-6.35 | $3.11 | ||
| Q3 25 | $-1.38 | $2.66 | ||
| Q2 25 | $-0.64 | $2.41 | ||
| Q1 25 | $-0.07 | $2.25 | ||
| Q4 24 | $-0.38 | $2.38 | ||
| Q3 24 | $0.96 | $2.13 | ||
| Q2 24 | $0.25 | $2.22 |
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 | $960.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $19.4B | $2.2B |
| Total Assets | $34.2B | $3.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $418.7M | — | ||
| Q4 25 | $549.1M | $960.8M | ||
| Q3 25 | $579.5M | $968.8M | ||
| Q2 25 | $520.5M | $934.2M | ||
| Q1 25 | $476.4M | $950.7M | ||
| Q4 24 | $552.1M | $934.6M | ||
| Q3 24 | $562.6M | $908.9M | ||
| Q2 24 | $561.0M | $858.6M |
| Q1 26 | — | — | ||
| Q4 25 | $12.4B | — | ||
| Q3 25 | $13.6B | — | ||
| Q2 25 | $13.3B | — | ||
| Q1 25 | $13.1B | — | ||
| Q4 24 | $12.2B | — | ||
| Q3 24 | $12.7B | — | ||
| Q2 24 | $12.4B | — |
| Q1 26 | $19.4B | — | ||
| Q4 25 | $15.5B | $2.2B | ||
| Q3 25 | $16.6B | $2.1B | ||
| Q2 25 | $17.2B | $2.0B | ||
| Q1 25 | $17.5B | $1.9B | ||
| Q4 24 | $17.9B | $1.8B | ||
| Q3 24 | $18.2B | $1.8B | ||
| Q2 24 | $18.3B | $1.7B |
| Q1 26 | $34.2B | — | ||
| Q4 25 | $34.1B | $3.3B | ||
| Q3 25 | $37.4B | $3.0B | ||
| Q2 25 | $37.6B | $2.8B | ||
| Q1 25 | $37.6B | $2.6B | ||
| Q4 24 | $37.5B | $2.5B | ||
| Q3 24 | $38.5B | $2.4B | ||
| Q2 24 | $37.8B | $2.3B |
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.77× | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | 0.68× | — | ||
| 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 | $196.6M | $46.3M |
| Free Cash FlowOCF − Capex | — | $-5.3M |
| FCF MarginFCF / Revenue | — | -0.5% |
| Capex IntensityCapex / Revenue | 76.0% | 4.6% |
| Cash ConversionOCF / Net Profit | 0.49× | 0.41× |
| TTM Free Cash FlowTrailing 4 quarters | — | $102.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $196.6M | — | ||
| Q4 25 | $312.4M | $46.3M | ||
| Q3 25 | $433.5M | $102.6M | ||
| Q2 25 | $460.2M | $55.1M | ||
| Q1 25 | $207.9M | $74.2M | ||
| Q4 24 | $274.2M | $115.9M | ||
| Q3 24 | $477.4M | $83.2M | ||
| Q2 24 | $411.8M | $83.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-5.3M | ||
| Q3 25 | — | $57.3M | ||
| Q2 25 | — | $4.7M | ||
| Q1 25 | — | $45.7M | ||
| Q4 24 | — | $94.0M | ||
| Q3 24 | — | $62.9M | ||
| Q2 24 | — | $70.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.5% | ||
| Q3 25 | — | 5.9% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 5.2% | ||
| Q4 24 | — | 11.3% | ||
| Q3 24 | — | 7.8% | ||
| Q2 24 | — | 9.3% |
| Q1 26 | 76.0% | — | ||
| Q4 25 | — | 4.6% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 5.5% | ||
| Q1 25 | — | 3.3% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | — | 2.5% | ||
| Q2 24 | — | 1.7% |
| Q1 26 | 0.49× | — | ||
| Q4 25 | — | 0.41× | ||
| Q3 25 | — | 1.07× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 1.34× | ||
| Q3 24 | 2.84× | 1.07× | ||
| Q2 24 | 8.82× | 1.02× |
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% |
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
