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Side-by-side financial comparison of Safehold Inc. (SAFE) and Urban Edge Properties (UE). Click either name above to swap in a different company.
Urban Edge Properties is the larger business by last-quarter revenue ($132.6M vs $97.9M, roughly 1.4× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs 17.1%, a 11.4% gap on every dollar of revenue. On growth, Urban Edge Properties posted the faster year-over-year revenue change (12.2% vs 6.5%). Over the past eight quarters, Urban Edge Properties's revenue compounded faster (11.6% CAGR vs 2.5%).
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
Urban Edge Properties is a publicly traded real estate investment trust (REIT) that owns, operates, and develops high-quality retail and mixed-use properties, primarily located in densely populated urban and suburban markets across the United States. Its portfolio covers grocery-anchored shopping centers, lifestyle outlets, and community-focused commercial assets.
SAFE vs UE — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $97.9M | $132.6M |
| Net Profit | $27.9M | $22.6M |
| Gross Margin | 98.6% | — |
| Operating Margin | 27.4% | — |
| Net Margin | 28.5% | 17.1% |
| Revenue YoY | 6.5% | 12.2% |
| Net Profit YoY | 7.1% | -6.7% |
| EPS (diluted) | $0.38 | $0.18 |
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 | — | $132.6M | ||
| Q4 25 | $97.9M | $119.6M | ||
| Q3 25 | $96.2M | $120.1M | ||
| Q2 25 | $93.8M | $114.1M | ||
| Q1 25 | $97.7M | $118.2M | ||
| Q4 24 | $91.9M | $116.4M | ||
| Q3 24 | $90.7M | $112.4M | ||
| Q2 24 | $89.9M | $106.5M |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $27.9M | $12.4M | ||
| Q3 25 | $29.3M | $14.9M | ||
| Q2 25 | $27.9M | $58.0M | ||
| Q1 25 | $29.4M | $8.2M | ||
| Q4 24 | $26.0M | $30.1M | ||
| Q3 24 | $19.3M | $9.1M | ||
| Q2 24 | $29.7M | $30.8M |
| Q1 26 | — | — | ||
| Q4 25 | 98.6% | — | ||
| Q3 25 | 98.5% | — | ||
| Q2 25 | 99.1% | — | ||
| Q1 25 | 98.8% | — | ||
| Q4 24 | 98.8% | — | ||
| Q3 24 | 98.8% | — | ||
| Q2 24 | 98.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 27.4% | 11.3% | ||
| Q3 25 | 25.9% | 13.4% | ||
| Q2 25 | 25.5% | 53.9% | ||
| Q1 25 | 25.9% | 7.6% | ||
| Q4 24 | 24.6% | 27.6% | ||
| Q3 24 | 17.5% | 8.9% | ||
| Q2 24 | 26.7% | 30.6% |
| Q1 26 | — | 17.1% | ||
| Q4 25 | 28.5% | 10.4% | ||
| Q3 25 | 30.5% | 12.4% | ||
| Q2 25 | 29.8% | 50.8% | ||
| Q1 25 | 30.1% | 6.9% | ||
| Q4 24 | 28.3% | 25.9% | ||
| Q3 24 | 21.3% | 8.1% | ||
| Q2 24 | 33.0% | 28.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $0.38 | $0.09 | ||
| Q3 25 | $0.41 | $0.12 | ||
| Q2 25 | $0.39 | $0.46 | ||
| Q1 25 | $0.41 | $0.07 | ||
| Q4 24 | $0.36 | $0.25 | ||
| Q3 24 | $0.27 | $0.07 | ||
| Q2 24 | $0.42 | $0.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $21.7M | $50.0M |
| Total DebtLower is stronger | $4.6B | — |
| Stockholders' EquityBook value | $2.4B | $1.4B |
| Total Assets | $7.2B | $3.4B |
| Debt / EquityLower = less leverage | 1.90× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $50.0M | ||
| Q4 25 | $21.7M | $48.9M | ||
| Q3 25 | $12.1M | $77.8M | ||
| Q2 25 | $13.9M | $53.0M | ||
| Q1 25 | $17.3M | $48.0M | ||
| Q4 24 | $8.3M | $41.4M | ||
| Q3 24 | $15.6M | $67.9M | ||
| Q2 24 | $13.4M | $78.6M |
| Q1 26 | — | — | ||
| Q4 25 | $4.6B | — | ||
| Q3 25 | $4.5B | — | ||
| Q2 25 | $4.4B | — | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $4.2B | — |
| Q1 26 | — | $1.4B | ||
| Q4 25 | $2.4B | $1.4B | ||
| Q3 25 | $2.4B | $1.4B | ||
| Q2 25 | $2.4B | $1.4B | ||
| Q1 25 | $2.4B | $1.4B | ||
| Q4 24 | $2.3B | $1.4B | ||
| Q3 24 | $2.3B | $1.3B | ||
| Q2 24 | $2.3B | $1.3B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $7.2B | $3.3B | ||
| Q3 25 | $7.1B | $3.3B | ||
| Q2 25 | $7.1B | $3.3B | ||
| Q1 25 | $6.9B | $3.3B | ||
| Q4 24 | $6.9B | $3.3B | ||
| Q3 24 | $6.8B | $3.2B | ||
| Q2 24 | $6.8B | $3.2B |
| Q1 26 | — | — | ||
| Q4 25 | 1.90× | — | ||
| Q3 25 | 1.89× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | 1.85× | — | ||
| Q4 24 | 1.84× | — | ||
| Q3 24 | 1.88× | — | ||
| Q2 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 | $47.8M | $39.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 1.5% |
| Cash ConversionOCF / Net Profit | 1.72× | 1.73× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $39.1M | ||
| Q4 25 | $47.8M | $182.7M | ||
| Q3 25 | $-1.4M | $55.7M | ||
| Q2 25 | $28.0M | $43.5M | ||
| Q1 25 | $8.9M | $32.6M | ||
| Q4 24 | $37.9M | $153.2M | ||
| Q3 24 | $8.3M | $36.6M | ||
| Q2 24 | $24.8M | $41.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $81.8M | ||
| Q3 25 | — | $26.1M | ||
| Q2 25 | — | $19.6M | ||
| Q1 25 | — | $11.9M | ||
| Q4 24 | — | $42.5M | ||
| Q3 24 | — | $12.2M | ||
| Q2 24 | — | $19.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 68.4% | ||
| Q3 25 | — | 21.7% | ||
| Q2 25 | — | 17.2% | ||
| Q1 25 | — | 10.0% | ||
| Q4 24 | — | 36.6% | ||
| Q3 24 | — | 10.8% | ||
| Q2 24 | — | 18.6% |
| Q1 26 | — | 1.5% | ||
| Q4 25 | — | 84.4% | ||
| Q3 25 | — | 24.6% | ||
| Q2 25 | — | 20.9% | ||
| Q1 25 | — | 17.5% | ||
| Q4 24 | — | 95.1% | ||
| Q3 24 | — | 21.7% | ||
| Q2 24 | — | 20.1% |
| Q1 26 | — | 1.73× | ||
| Q4 25 | 1.72× | 14.71× | ||
| Q3 25 | -0.05× | 3.73× | ||
| Q2 25 | 1.00× | 0.75× | ||
| Q1 25 | 0.30× | 3.97× | ||
| Q4 24 | 1.45× | 5.09× | ||
| Q3 24 | 0.43× | 4.03× | ||
| Q2 24 | 0.83× | 1.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
UE
| Rental revenue | $124.2M | 94% |
| Other | $8.4M | 6% |
