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Side-by-side financial comparison of Alexandria Real Estate Equities (ARE) and Primerica, Inc. (PRI). Click either name above to swap in a different company.
Primerica, Inc. is the larger business by last-quarter revenue ($853.7M vs $671.0M, roughly 1.3× Alexandria Real Estate Equities). Alexandria Real Estate Equities runs the higher net margin — 59.4% vs 23.1%, a 36.3% gap on every dollar of revenue. On growth, Primerica, Inc. posted the faster year-over-year revenue change (11.0% vs -11.5%). Over the past eight quarters, Primerica, Inc.'s revenue compounded faster (7.2% 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...
Primerica, Inc. is a multi-level marketing company that provides insurance, investment and financial services to middle-income families in the United States and Canada.
ARE vs PRI — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $671.0M | $853.7M |
| Net Profit | $398.4M | $197.0M |
| Gross Margin | — | — |
| Operating Margin | — | 28.9% |
| Net Margin | 59.4% | 23.1% |
| Revenue YoY | -11.5% | 11.0% |
| Net Profit YoY | 740.6% | 17.9% |
| EPS (diluted) | $2.10 | $6.11 |
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 | $853.7M | ||
| Q3 25 | $751.9M | $839.9M | ||
| Q2 25 | $762.0M | $793.3M | ||
| Q1 25 | $758.2M | $804.8M | ||
| Q4 24 | $788.9M | $768.8M | ||
| Q3 24 | $791.6M | $774.1M | ||
| Q2 24 | $766.7M | $803.4M |
| Q1 26 | $398.4M | — | ||
| Q4 25 | $-1.1B | $197.0M | ||
| Q3 25 | $-232.8M | $206.8M | ||
| Q2 25 | $-107.0M | $178.3M | ||
| Q1 25 | $-8.9M | $169.1M | ||
| Q4 24 | $-62.2M | $167.1M | ||
| Q3 24 | $167.9M | $164.4M | ||
| Q2 24 | $46.7M | $1.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 98.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 28.9% | ||
| Q3 25 | — | 32.3% | ||
| Q2 25 | — | 29.6% | ||
| Q1 25 | — | 27.5% | ||
| Q4 24 | — | 64.7% | ||
| Q3 24 | — | 32.9% | ||
| Q2 24 | — | 1.0% |
| Q1 26 | 59.4% | — | ||
| Q4 25 | -143.3% | 23.1% | ||
| Q3 25 | -31.0% | 24.6% | ||
| Q2 25 | -14.0% | 22.5% | ||
| Q1 25 | -1.2% | 21.0% | ||
| Q4 24 | -7.9% | 21.7% | ||
| Q3 24 | 21.2% | 21.2% | ||
| Q2 24 | 6.1% | 0.1% |
| Q1 26 | $2.10 | — | ||
| Q4 25 | $-6.35 | $6.11 | ||
| Q3 25 | $-1.38 | $6.35 | ||
| Q2 25 | $-0.64 | $5.40 | ||
| Q1 25 | $-0.07 | $5.05 | ||
| Q4 24 | $-0.38 | $4.92 | ||
| Q3 24 | $0.96 | $4.83 | ||
| Q2 24 | $0.25 | $0.03 |
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 | $756.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $19.4B | $2.4B |
| Total Assets | $34.2B | $15.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $418.7M | — | ||
| Q4 25 | $549.1M | $756.2M | ||
| Q3 25 | $579.5M | $644.9M | ||
| Q2 25 | $520.5M | $621.2M | ||
| Q1 25 | $476.4M | $625.1M | ||
| Q4 24 | $552.1M | $687.8M | ||
| Q3 24 | $562.6M | $550.1M | ||
| Q2 24 | $561.0M | $627.3M |
| 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 | $2.4B | ||
| Q3 25 | $16.6B | $2.3B | ||
| Q2 25 | $17.2B | $2.3B | ||
| Q1 25 | $17.5B | $2.3B | ||
| Q4 24 | $17.9B | $2.3B | ||
| Q3 24 | $18.2B | $1.9B | ||
| Q2 24 | $18.3B | $2.1B |
| Q1 26 | $34.2B | — | ||
| Q4 25 | $34.1B | $15.0B | ||
| Q3 25 | $37.4B | $14.8B | ||
| Q2 25 | $37.6B | $14.8B | ||
| Q1 25 | $37.6B | $14.6B | ||
| Q4 24 | $37.5B | $14.6B | ||
| Q3 24 | $38.5B | $14.8B | ||
| Q2 24 | $37.8B | $14.6B |
| 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 | $475.0M | $338.2M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 76.0% | — |
| Cash ConversionOCF / Net Profit | 1.19× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $475.0M | — | ||
| Q4 25 | $312.4M | $338.2M | ||
| Q3 25 | $433.5M | $202.9M | ||
| Q2 25 | $460.2M | $162.6M | ||
| Q1 25 | $207.9M | $197.5M | ||
| Q4 24 | $274.2M | $270.6M | ||
| Q3 24 | $477.4M | $207.3M | ||
| Q2 24 | $411.8M | $173.3M |
| Q1 26 | 76.0% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | 1.19× | — | ||
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | 0.98× | ||
| Q2 25 | — | 0.91× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | — | 1.62× | ||
| Q3 24 | 2.84× | 1.26× | ||
| Q2 24 | 8.82× | 147.98× |
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% |
PRI
| Revenues From Sources Other Than Contracts With Customers | $445.9M | 52% |
| Investment And Savings Products Segment Revenues | $340.3M | 40% |
| Other | $56.5M | 7% |
| Segment Revenues From Contracts With Customers | $11.0M | 1% |
