Alexandria Real Estate Equities
ARE · Office REITs
$43.02
0.7%COPT Defense Properties
CDP · Office REITs
$33.93
0.3%The short version
- Alexandria Real Estate Equities is the larger business, with $3.0B of revenue in fiscal 2025 against $764M for COPT Defense Properties, about 4.0 times as much.
- COPT Defense Properties grew revenue faster (1.4%, against −2.9%).
- COPT Defense Properties turned more of its sales into free cash flow (37.8% FCF margin, against −15.1% FCF margin).
| Latest fiscal year | ARE · FY25 | CDP · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.3B | $3.9B |
| Revenue | $3.0B | $764M |
| Free cash flow | −$457M | $289M |
| Net income | −$1.4B | $160M |
| Growth | ||
| Revenue growth | −2.9% | 1.4% |
| 5-year growth | 9.9% | 5.6% |
| Share count change | −1.0% | 0.4% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | −47.2% | 20.9% |
| FCF margin | −15.1% | 37.8% |
| Return on capital | — | 6.1% |
| Return on equity | −8.6% | 10.6% |
| Balance sheet | ||
| Net debt | $11.9B | $2.5B |
| Net debt / EBITDA | — | 6.1x |
| Dividends and buybacks | $1.1B | $137M |
| Valuation & quality | ||
| P/E | — | 23.6x |
| Piotroski F-score | — | — |
FY16
ARE $922M
CDP $574M
FY17
ARE $1.1B
CDP $613M
FY18
ARE $1.3B
CDP $578M
FY19
ARE $1.5B
CDP $612M
FY20
ARE $1.9B
CDP $582M
FY21
ARE $2.1B
CDP $664M
FY22
ARE $2.6B
CDP $739M
FY23
ARE $2.9B
CDP $685M
FY24
ARE $3.1B
CDP $753M
FY25
ARE $3.0B
CDP $764M
ARE
CDP
FY16
ARE —
CDP 9.1%
FY17
ARE —
CDP 22.2%
FY18
ARE —
CDP —
FY19
ARE —
CDP —
FY20
ARE —
CDP —
FY21
ARE —
CDP —
FY22
ARE —
CDP —
FY23
ARE —
CDP —
FY24
ARE —
CDP —
FY25
ARE —
CDP —
ARE
CDP
FY16
ARE −$428M
CDP $208M
FY17
ARE −$443M
CDP $207M
FY18
ARE −$357M
CDP $156M
FY19
ARE −$541M
CDP $204M
FY20
ARE −$563M
CDP $206M
FY21
ARE −$1.1B
CDP $219M
FY22
ARE −$2.0B
CDP $229M
FY23
ARE −$1.8B
CDP $256M
FY24
ARE −$918M
CDP $300M
FY25
ARE −$457M
CDP $289M
ARE
CDP
FY16
ARE —
CDP 1.5%
FY17
ARE —
CDP 4.1%
FY18
ARE —
CDP 4.5%
FY19
ARE —
CDP 7.6%
FY20
ARE —
CDP 4.6%
FY21
ARE —
CDP 3.7%
FY22
ARE —
CDP 5.3%
FY23
ARE —
CDP −0.1%
FY24
ARE —
CDP 5.9%
FY25
ARE —
CDP 6.1%
ARE
CDP
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.