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Alexander's, Inc. is a real estate investment trust (REIT) engaged in leasing, managing, developing and redeveloping properties. Alexander's activities are conducted through its manager, Vornado Realty Trust. Alexander's has five properties in the greater New York City metropolitan area consisting of: 731 Lexington Avenue office and retail (including Bloomberg, L.P.'s world headquarters), the Rego Center complex in Rego Park, Queens, including the Rego Park I & II retail properties and The Alexander apartment tower, and a retail property located in Flushing, NY. Alexander's, Inc. was incorporated in 1928 in Delaware, USA.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $213M | $118M | $28M | $73M | 25.9% | -5.8% | -35.0% |
| 2024 | $226M | $144M | $43M | $54M | 24.6% | 0.6% | -57.6% |
| 2023 | $225M | $195M | $102M | $109M | 43.1% | 9.3% | 77.7% |
| 2022 | $206M | $118M | $58M | $103M | 24.4% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 205.81 | 224.96 | 226.37 | 213.18 |
| Operating Expense | 126.35 | 140.45 | 144.54 | 147.99 |
| Operating Income | 79.47 | 84.51 | 81.83 | 65.19 |
| EBITDA | 117.69 | 195.18 | 144.16 | 117.99 |
| EBIT | 86.23 | 160.71 | 106.26 | 79.85 |
| Pretax Income | 57.63 | 102.41 | 43.44 | 28.22 |
| Net Income | 57.63 | 102.41 | 43.44 | 28.22 |
| Net Income Common Stockholders | 57.63 | 102.41 | 43.44 | 28.22 |
| Total Expenses | 126.35 | 140.45 | 144.54 | 147.99 |
| Interest Expense | 28.60 | 58.30 | 62.82 | 51.62 |
| Interest Income | 6.77 | 22.25 | 24.43 | 14.66 |
| Selling General And Administration | 6.11 | 6.34 | 6.52 | 6.55 |
| Normalized EBITDA | 117.69 | 141.22 | 144.16 | 117.99 |
| Normalized Income | 57.63 | 59.79 | 43.44 | 28.22 |
| Basic EPS | 11.24 | 19.97 | 8.46 | 5.50 |
| Diluted EPS | 11.24 | 19.97 | 8.46 | 5.50 |
| Tax Effect Of Unusual Items | 0 | 11.33 | 0 | 0 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | 0 | 53.95 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 53.95 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 57.63 | 102.41 | 43.44 | 28.22 |
| Reconciled Depreciation | 31.45 | 34.47 | 37.90 | 38.15 |
| Net Interest Income | -21.83 | -36.05 | -38.39 | -36.97 |
| Net Income From Continuing And Discontinued Operation | 57.63 | 102.41 | 43.44 | 28.22 |
| Diluted Average Shares | 5.13 | 5.13 | 5.13 | 5.14 |
| Basic Average Shares | 5.13 | 5.13 | 5.13 | 5.14 |
| Diluted NI Availto Com Stockholders | 57.63 | 102.41 | 43.44 | 28.22 |
| Net Income Including Noncontrolling Interests | 57.63 | 102.41 | 43.44 | 28.22 |
| Net Income Discontinuous Operations | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | 57.63 | 102.41 | 43.44 | 28.22 |
| Other Income Expense | 0 | 53.95 | 0 | 0 |
| Gain On Sale Of Security | 0 | 53.95 | 0 | 0 |
| Net Non Operating Interest Income Expense | -21.83 | -36.05 | -38.39 | -36.97 |
| Interest Expense Non Operating | 28.60 | 58.30 | 62.82 | 51.62 |
| Interest Income Non Operating | 6.77 | 22.25 | 24.43 | 14.66 |
| Other Operating Expenses | 90.45 | 101.21 | 103.24 | 106.38 |
| Depreciation Amortization Depletion Income Statement | 29.80 | 32.90 | 34.78 | 35.06 |
| Depreciation And Amortization In Income Statement | 29.80 | 32.90 | 34.78 | 35.06 |
| General And Administrative Expense | 6.11 | 6.34 | 6.52 | 6.55 |
| Other Gand A | 6.11 | 6.34 | 6.52 | 6.55 |
| Operating Revenue | 205.81 | 224.96 | 226.37 | 213.18 |
Real Estate sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Alexander's, Inc.this co. | ALX | $1.3B | 45.47↑ premium | 11.70 | 25.9% | 19.95 |
| Forestar Group Inc. | FOR | $1.4B | 8.40 | 0.78 | 9.5% | 5.62 |
| CBL & Associates Properties, Inc. | CBL | $1.4B | 10.36 | 3.64 | 37.3% | 10.99 |
| UMH Properties, Inc. | UMH | $1.3B | 220.29 | 2.25 | 2.9% | 20.23 |
| Ladder Capital Corp | LADR | $1.3B |
| 23.30 |
| 0.90 |
| 4.3% |
| - |
| RLJ Lodging Trust | RLJ | $1.3B | 827.00 | 0.68 | 1.3% | 11.11 |
| Saul Centers, Inc. | BFS | $1.2B | 22.55 | 6.89 | 30.5% | 13.88 |
| Franklin BSP Realty Trust, Inc. | FBRT | $1.2B | 8.55 | 0.59 | 7.0% | 50.59 |
| Centerspace | CSR | $1.1B | 63.46 | 1.55 | 2.4% | 11.64 |
| Peer Median | - | 22.92 | 1.23 | 5.6% | 11.64 | |