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Side-by-side financial comparison of Alexandria Real Estate Equities (ARE) and Koppers Holdings Inc. (KOP). Click either name above to swap in a different company.
Alexandria Real Estate Equities is the larger business by last-quarter revenue ($671.0M vs $432.7M, roughly 1.6× Koppers Holdings Inc.). Alexandria Real Estate Equities runs the higher net margin — 59.4% vs 6.9%, a 52.5% gap on every dollar of revenue. On growth, Koppers Holdings Inc. posted the faster year-over-year revenue change (-9.3% vs -11.5%). Over the past eight quarters, Alexandria Real Estate Equities's revenue compounded faster (-6.4% CAGR vs -6.7%).
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...
Koppers is a global chemical and materials company based in Pittsburgh, Pennsylvania, United States. Its headquarters is an art-deco 1920s skyscraper, the Koppers Tower.
ARE vs KOP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $671.0M | $432.7M |
| Net Profit | $398.4M | $29.7M |
| Gross Margin | — | 25.6% |
| Operating Margin | — | 11.5% |
| Net Margin | 59.4% | 6.9% |
| Revenue YoY | -11.5% | -9.3% |
| Net Profit YoY | 740.6% | 391.2% |
| EPS (diluted) | $2.10 | $1.44 |
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 | $432.7M | ||
| Q3 25 | $751.9M | $485.3M | ||
| Q2 25 | $762.0M | $504.8M | ||
| Q1 25 | $758.2M | $456.5M | ||
| Q4 24 | $788.9M | $477.0M | ||
| Q3 24 | $791.6M | $554.3M | ||
| Q2 24 | $766.7M | $563.2M |
| Q1 26 | $398.4M | — | ||
| Q4 25 | $-1.1B | $29.7M | ||
| Q3 25 | $-232.8M | $23.8M | ||
| Q2 25 | $-107.0M | $16.4M | ||
| Q1 25 | $-8.9M | $-13.9M | ||
| Q4 24 | $-62.2M | $-10.2M | ||
| Q3 24 | $167.9M | $22.8M | ||
| Q2 24 | $46.7M | $26.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 25.6% | ||
| Q3 25 | — | 24.1% | ||
| Q2 25 | — | 22.6% | ||
| Q1 25 | — | 23.2% | ||
| Q4 24 | — | 17.5% | ||
| Q3 24 | — | 21.9% | ||
| Q2 24 | — | 21.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 11.5% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 7.7% | ||
| Q1 25 | — | 5.9% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 9.0% | ||
| Q2 24 | — | 10.2% |
| Q1 26 | 59.4% | — | ||
| Q4 25 | -143.3% | 6.9% | ||
| Q3 25 | -31.0% | 4.9% | ||
| Q2 25 | -14.0% | 3.2% | ||
| Q1 25 | -1.2% | -3.0% | ||
| Q4 24 | -7.9% | -2.1% | ||
| Q3 24 | 21.2% | 4.1% | ||
| Q2 24 | 6.1% | 4.8% |
| Q1 26 | $2.10 | — | ||
| Q4 25 | $-6.35 | $1.44 | ||
| Q3 25 | $-1.38 | $1.17 | ||
| Q2 25 | $-0.64 | $0.81 | ||
| Q1 25 | $-0.07 | $-0.68 | ||
| Q4 24 | $-0.38 | $-0.47 | ||
| Q3 24 | $0.96 | $1.09 | ||
| Q2 24 | $0.25 | $1.25 |
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 | — | $928.3M |
| Stockholders' EquityBook value | $19.4B | $574.0M |
| Total Assets | $34.2B | $1.9B |
| Debt / EquityLower = less leverage | — | 1.62× |
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 | — | ||
| Q2 24 | $561.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | $12.4B | $928.3M | ||
| Q3 25 | $13.6B | $932.9M | ||
| Q2 25 | $13.3B | $977.5M | ||
| Q1 25 | $13.1B | $989.0M | ||
| Q4 24 | $12.2B | $939.5M | ||
| Q3 24 | $12.7B | $989.4M | ||
| Q2 24 | $12.4B | $1.0B |
| Q1 26 | $19.4B | — | ||
| Q4 25 | $15.5B | $574.0M | ||
| Q3 25 | $16.6B | $545.6M | ||
| Q2 25 | $17.2B | $526.8M | ||
| Q1 25 | $17.5B | $498.0M | ||
| Q4 24 | $17.9B | $488.7M | ||
| Q3 24 | $18.2B | $532.3M | ||
| Q2 24 | $18.3B | $509.2M |
| Q1 26 | $34.2B | — | ||
| Q4 25 | $34.1B | $1.9B | ||
| Q3 25 | $37.4B | $1.9B | ||
| Q2 25 | $37.6B | $1.9B | ||
| Q1 25 | $37.6B | $1.9B | ||
| Q4 24 | $37.5B | $1.9B | ||
| Q3 24 | $38.5B | $2.0B | ||
| Q2 24 | $37.8B | $1.9B |
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | 1.62× | ||
| Q3 25 | 0.82× | 1.71× | ||
| Q2 25 | 0.77× | 1.86× | ||
| Q1 25 | 0.75× | 1.99× | ||
| Q4 24 | 0.68× | 1.92× | ||
| Q3 24 | 0.70× | 1.86× | ||
| Q2 24 | 0.68× | 1.97× |
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 | $45.1M |
| Free Cash FlowOCF − Capex | — | $28.5M |
| FCF MarginFCF / Revenue | — | 6.6% |
| Capex IntensityCapex / Revenue | 76.0% | 3.8% |
| Cash ConversionOCF / Net Profit | 0.49× | 1.52× |
| TTM Free Cash FlowTrailing 4 quarters | — | $67.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $196.6M | — | ||
| Q4 25 | $312.4M | $45.1M | ||
| Q3 25 | $433.5M | $49.6M | ||
| Q2 25 | $460.2M | $50.5M | ||
| Q1 25 | $207.9M | $-22.7M | ||
| Q4 24 | $274.2M | $74.7M | ||
| Q3 24 | $477.4M | $29.8M | ||
| Q2 24 | $411.8M | $27.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $28.5M | ||
| Q3 25 | — | $37.6M | ||
| Q2 25 | — | $38.4M | ||
| Q1 25 | — | $-37.0M | ||
| Q4 24 | — | $56.1M | ||
| Q3 24 | — | $14.4M | ||
| Q2 24 | — | $10.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.6% | ||
| Q3 25 | — | 7.7% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | — | -8.1% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 1.8% |
| Q1 26 | 76.0% | — | ||
| Q4 25 | — | 3.8% | ||
| Q3 25 | — | 2.5% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 3.1% | ||
| Q4 24 | — | 3.9% | ||
| Q3 24 | — | 2.8% | ||
| Q2 24 | — | 3.0% |
| Q1 26 | 0.49× | — | ||
| Q4 25 | — | 1.52× | ||
| Q3 25 | — | 2.08× | ||
| Q2 25 | — | 3.08× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.84× | 1.31× | ||
| Q2 24 | 8.82× | 1.01× |
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% |
KOP
| Other | $127.8M | 30% |
| Railroad Treated Products | $119.0M | 28% |
| Utility Poles | $79.8M | 18% |
| Pitch And Related Products | $74.1M | 17% |
| Carbon Black Feedstock And Distillates | $14.4M | 3% |
| Railroad Infrastructure Products And Services | $9.9M | 2% |
| Phthalic Anhydride Naphthalene And Other Chemicals | $7.7M | 2% |
