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Side-by-side financial comparison of Alexandria Real Estate Equities (ARE) and Magnera Corp (MAGN). Click either name above to swap in a different company.
Magnera Corp is the larger business by last-quarter revenue ($792.0M vs $671.0M, roughly 1.2× Alexandria Real Estate Equities). Alexandria Real Estate Equities runs the higher net margin — 59.4% vs -4.3%, a 63.7% gap on every dollar of revenue. On growth, Magnera Corp posted the faster year-over-year revenue change (12.8% vs -11.5%). Over the past eight quarters, Magnera Corp's revenue compounded faster (54.9% 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 MAGN — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $671.0M | $792.0M |
| Net Profit | $398.4M | $-34.0M |
| Gross Margin | — | 12.2% |
| Operating Margin | — | 1.8% |
| Net Margin | 59.4% | -4.3% |
| Revenue YoY | -11.5% | 12.8% |
| Net Profit YoY | 740.6% | 43.3% |
| EPS (diluted) | $2.10 | $-0.95 |
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 | $792.0M | ||
| Q3 25 | $751.9M | — | ||
| Q2 25 | $762.0M | $839.0M | ||
| Q1 25 | $758.2M | $824.0M | ||
| Q4 24 | $788.9M | $702.0M | ||
| Q3 24 | $791.6M | $332.1M | ||
| Q2 24 | $766.7M | $556.0M |
| Q1 26 | $398.4M | — | ||
| Q4 25 | $-1.1B | $-34.0M | ||
| Q3 25 | $-232.8M | — | ||
| Q2 25 | $-107.0M | $-18.0M | ||
| Q1 25 | $-8.9M | $-41.0M | ||
| Q4 24 | $-62.2M | $-60.0M | ||
| Q3 24 | $167.9M | $-15.2M | ||
| Q2 24 | $46.7M | $19.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 12.2% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 10.7% | ||
| Q1 25 | — | 10.7% | ||
| Q4 24 | — | 10.1% | ||
| Q3 24 | — | 10.7% | ||
| Q2 24 | — | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.8% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | -3.1% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 3.1% |
| Q1 26 | 59.4% | — | ||
| Q4 25 | -143.3% | -4.3% | ||
| Q3 25 | -31.0% | — | ||
| Q2 25 | -14.0% | -2.1% | ||
| Q1 25 | -1.2% | -5.0% | ||
| Q4 24 | -7.9% | -8.5% | ||
| Q3 24 | 21.2% | -4.6% | ||
| Q2 24 | 6.1% | 3.4% |
| Q1 26 | $2.10 | — | ||
| Q4 25 | $-6.35 | $-0.95 | ||
| Q3 25 | $-1.38 | — | ||
| Q2 25 | $-0.64 | $-0.51 | ||
| Q1 25 | $-0.07 | $-1.15 | ||
| Q4 24 | $-0.38 | $-1.69 | ||
| Q3 24 | $0.96 | $-0.33 | ||
| Q2 24 | $0.25 | $0.60 |
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 | $264.0M |
| Total DebtLower is stronger | — | $1.9B |
| Stockholders' EquityBook value | $19.4B | $1.0B |
| Total Assets | $34.2B | $3.9B |
| Debt / EquityLower = less leverage | — | 1.86× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $418.7M | — | ||
| Q4 25 | $549.1M | $264.0M | ||
| Q3 25 | $579.5M | — | ||
| Q2 25 | $520.5M | $276.0M | ||
| Q1 25 | $476.4M | $282.0M | ||
| Q4 24 | $552.1M | $215.0M | ||
| Q3 24 | $562.6M | $230.0M | ||
| Q2 24 | $561.0M | $33.9M |
| Q1 26 | — | — | ||
| Q4 25 | $12.4B | $1.9B | ||
| Q3 25 | $13.6B | — | ||
| Q2 25 | $13.3B | $2.0B | ||
| Q1 25 | $13.1B | $2.0B | ||
| Q4 24 | $12.2B | $2.0B | ||
| Q3 24 | $12.7B | $2.0B | ||
| Q2 24 | $12.4B | $877.4M |
| Q1 26 | $19.4B | — | ||
| Q4 25 | $15.5B | $1.0B | ||
| Q3 25 | $16.6B | — | ||
| Q2 25 | $17.2B | $1.1B | ||
| Q1 25 | $17.5B | $1.1B | ||
| Q4 24 | $17.9B | $1.1B | ||
| Q3 24 | $18.2B | $2.1B | ||
| Q2 24 | $18.3B | $2.4B |
| Q1 26 | $34.2B | — | ||
| Q4 25 | $34.1B | $3.9B | ||
| Q3 25 | $37.4B | — | ||
| Q2 25 | $37.6B | $4.1B | ||
| Q1 25 | $37.6B | $4.1B | ||
| Q4 24 | $37.5B | $4.0B | ||
| Q3 24 | $38.5B | $2.8B | ||
| Q2 24 | $37.8B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | 0.80× | 1.86× | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.77× | 1.77× | ||
| Q1 25 | 0.75× | 1.83× | ||
| Q4 24 | 0.68× | 1.80× | ||
| Q3 24 | 0.70× | 0.91× | ||
| Q2 24 | 0.68× | 0.37× |
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 | $2.0M |
| Free Cash FlowOCF − Capex | — | $-13.0M |
| FCF MarginFCF / Revenue | — | -1.6% |
| Capex IntensityCapex / Revenue | 76.0% | 1.9% |
| Cash ConversionOCF / Net Profit | 0.49× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $196.6M | — | ||
| Q4 25 | $312.4M | $2.0M | ||
| Q3 25 | $433.5M | — | ||
| Q2 25 | $460.2M | $0 | ||
| Q1 25 | $207.9M | $65.0M | ||
| Q4 24 | $274.2M | $-58.0M | ||
| Q3 24 | $477.4M | $12.2M | ||
| Q2 24 | $411.8M | $38.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-13.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $42.0M | ||
| Q4 24 | — | $-74.0M | ||
| Q3 24 | — | $3.6M | ||
| Q2 24 | — | $23.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -1.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.1% | ||
| Q4 24 | — | -10.5% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 4.1% |
| Q1 26 | 76.0% | — | ||
| Q4 25 | — | 1.9% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 2.7% |
| Q1 26 | 0.49× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.84× | — | ||
| Q2 24 | 8.82× | 2.00× |
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% |
MAGN
| Other | $451.0M | 57% |
| United States And Canada | $341.0M | 43% |
