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Side-by-side financial comparison of LXP Industrial Trust (LXP) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Safehold Inc. is the larger business by last-quarter revenue ($97.9M vs $86.7M, roughly 1.1× LXP Industrial Trust). LXP Industrial Trust runs the higher net margin — 33.2% vs 28.5%, a 4.7% gap on every dollar of revenue. On growth, Safehold Inc. posted the faster year-over-year revenue change (6.5% vs -14.0%). Over the past eight quarters, Safehold Inc.'s revenue compounded faster (2.5% CAGR vs 0.3%).
LXP Industrial Trust is a publicly traded real estate investment trust (REIT) that owns, operates, and invests in high-quality industrial real estate assets, primarily distribution centers, logistics facilities, and light industrial properties across key markets in the United States. Its tenant base covers e-commerce, third-party logistics, and advanced manufacturing sectors, delivering stable long-term returns for its investors.
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
LXP vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.7M | $97.9M |
| Net Profit | $28.8M | $27.9M |
| Gross Margin | 81.5% | 98.6% |
| Operating Margin | 34.6% | 27.4% |
| Net Margin | 33.2% | 28.5% |
| Revenue YoY | -14.0% | 6.5% |
| Net Profit YoY | — | 7.1% |
| EPS (diluted) | — | $0.38 |
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.
| Q4 25 | $86.7M | $97.9M | ||
| Q3 25 | $86.9M | $96.2M | ||
| Q2 25 | $87.7M | $93.8M | ||
| Q1 25 | $88.9M | $97.7M | ||
| Q4 24 | $100.9M | $91.9M | ||
| Q3 24 | $85.6M | $90.7M | ||
| Q2 24 | $85.8M | $89.9M | ||
| Q1 24 | $86.3M | $93.2M |
| Q4 25 | $28.8M | $27.9M | ||
| Q3 25 | $36.3M | $29.3M | ||
| Q2 25 | $29.1M | $27.9M | ||
| Q1 25 | $19.0M | $29.4M | ||
| Q4 24 | — | $26.0M | ||
| Q3 24 | $6.3M | $19.3M | ||
| Q2 24 | $5.4M | $29.7M | ||
| Q1 24 | $-269.0K | $30.7M |
| Q4 25 | 81.5% | 98.6% | ||
| Q3 25 | 82.3% | 98.5% | ||
| Q2 25 | 81.9% | 99.1% | ||
| Q1 25 | 80.7% | 98.8% | ||
| Q4 24 | 85.3% | 98.8% | ||
| Q3 24 | 82.5% | 98.8% | ||
| Q2 24 | 82.0% | 98.8% | ||
| Q1 24 | 82.4% | 98.8% |
| Q4 25 | 34.6% | 27.4% | ||
| Q3 25 | 50.4% | 25.9% | ||
| Q2 25 | 33.7% | 25.5% | ||
| Q1 25 | 21.8% | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | 7.9% | 17.5% | ||
| Q2 24 | 6.9% | 26.7% | ||
| Q1 24 | 1.0% | 26.4% |
| Q4 25 | 33.2% | 28.5% | ||
| Q3 25 | 41.7% | 30.5% | ||
| Q2 25 | 33.2% | 29.8% | ||
| Q1 25 | 21.4% | 30.1% | ||
| Q4 24 | — | 28.3% | ||
| Q3 24 | 7.4% | 21.3% | ||
| Q2 24 | 6.3% | 33.0% | ||
| Q1 24 | -0.3% | 33.0% |
| Q4 25 | — | $0.38 | ||
| Q3 25 | $0.12 | $0.41 | ||
| Q2 25 | $0.09 | $0.39 | ||
| Q1 25 | $0.06 | $0.41 | ||
| Q4 24 | — | $0.36 | ||
| Q3 24 | $0.02 | $0.27 | ||
| Q2 24 | $0.01 | $0.42 | ||
| Q1 24 | $-0.01 | $0.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $170.4M | $21.7M |
| Total DebtLower is stronger | $1.4B | $4.6B |
| Stockholders' EquityBook value | $2.0B | $2.4B |
| Total Assets | $3.5B | $7.2B |
| Debt / EquityLower = less leverage | 0.66× | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $170.4M | $21.7M | ||
| Q3 25 | $229.7M | $12.1M | ||
| Q2 25 | $71.0M | $13.9M | ||
| Q1 25 | $70.9M | $17.3M | ||
| Q4 24 | $101.8M | $8.3M | ||
| Q3 24 | $55.0M | $15.6M | ||
| Q2 24 | $48.7M | $13.4M | ||
| Q1 24 | $293.8M | $11.3M |
| Q4 25 | $1.4B | $4.6B | ||
| Q3 25 | $1.5B | $4.5B | ||
| Q2 25 | $1.5B | $4.4B | ||
| Q1 25 | $1.5B | $4.3B | ||
| Q4 24 | $1.6B | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $2.0B | $2.4B | ||
| Q3 25 | $2.1B | $2.4B | ||
| Q2 25 | $2.1B | $2.4B | ||
| Q1 25 | $2.1B | $2.4B | ||
| Q4 24 | $2.1B | $2.3B | ||
| Q3 24 | $2.1B | $2.3B | ||
| Q2 24 | $2.1B | $2.3B | ||
| Q1 24 | $2.2B | $2.3B |
| Q4 25 | $3.5B | $7.2B | ||
| Q3 25 | $3.7B | $7.1B | ||
| Q2 25 | $3.7B | $7.1B | ||
| Q1 25 | $3.8B | $6.9B | ||
| Q4 24 | $3.8B | $6.9B | ||
| Q3 24 | $3.9B | $6.8B | ||
| Q2 24 | $3.9B | $6.8B | ||
| Q1 24 | $4.2B | $6.7B |
| Q4 25 | 0.66× | 1.90× | ||
| Q3 25 | 0.72× | 1.89× | ||
| Q2 25 | 0.72× | 1.87× | ||
| Q1 25 | 0.73× | 1.85× | ||
| Q4 24 | 0.75× | 1.84× | ||
| Q3 24 | — | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $188.7M | $47.8M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 6.56× | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $188.7M | $47.8M | ||
| Q3 25 | $63.5M | $-1.4M | ||
| Q2 25 | $44.3M | $28.0M | ||
| Q1 25 | $39.0M | $8.9M | ||
| Q4 24 | $211.2M | $37.9M | ||
| Q3 24 | $64.6M | $8.3M | ||
| Q2 24 | $38.5M | $24.8M | ||
| Q1 24 | $38.9M | $-3.1M |
| Q4 25 | 6.56× | 1.72× | ||
| Q3 25 | 1.75× | -0.05× | ||
| Q2 25 | 1.52× | 1.00× | ||
| Q1 25 | 2.05× | 0.30× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | 10.18× | 0.43× | ||
| Q2 24 | 7.09× | 0.83× | ||
| Q1 24 | — | -0.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LXP
Segment breakdown not available.
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
