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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% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 205.81 | 224.96 | 226.37 | 213.18 |
| Operating Revenue | - | 205.81 | 224.96 | 226.37 | 213.18 |
| Operating Expense | - | 126.35 | 140.45 | 144.54 | 147.99 |
| Selling General And Administration | - | 6.11 | 6.34 | 6.52 | 6.56 |
| Total Expenses | - | 126.35 | 140.45 | 144.54 | 147.99 |
| Operating Income | - | 79.46 | 84.51 | 81.83 | 65.19 |
| EBITDA | - | 117.69 | 195.18 | 144.16 | 117.99 |
| Normalized EBITDA | - | 117.69 | 141.22 | 144.16 | 117.99 |
| EBIT | - | 86.23 | 160.71 | 106.26 | 79.85 |
| Interest Income | - | 6.77 | 22.24 | 24.43 | 14.66 |
| Interest Expense | - | 28.60 | 58.30 | 62.82 | 51.62 |
| Net Interest Income | - | -21.83 | -36.05 | -38.39 | -36.97 |
| Other Income Expense | 73.43 | - | 53.95 | - | - |
| Interest Income Non Operating | - | 6.77 | 22.24 | 24.43 | 14.66 |
| Interest Expense Non Operating | - | 28.60 | 58.30 | 62.82 | 51.62 |
| Net Non Operating Interest Income Expense | - | -21.83 | -36.05 | -38.39 | -36.97 |
| Pretax Income | - | 57.63 | 102.41 | 43.44 | 28.22 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 11.33 | 0 | 0 |
| Net Income Continuous Operations | - | 57.63 | 102.41 | 43.44 | 28.22 |
| Net Income From Continuing And Discontinued Operation | - | 57.63 | 102.41 | 43.44 | 28.22 |
| Net Income From Continuing Operation Net Minority Interest | - | 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 |
| Net Income Including Noncontrolling Interests | - | 57.63 | 102.41 | 43.44 | 28.22 |
| Normalized Income | - | 57.63 | 59.79 | 43.44 | 28.22 |
| Diluted NI Availto Com Stockholders | - | 57.63 | 102.41 | 43.44 | 28.22 |
| Basic Average Shares | - | 5.13 | 5.13 | 5.13 | 5.14 |
| Diluted Average Shares | - | 5.13 | 5.13 | 5.13 | 5.14 |
| Reconciled Depreciation | - | 31.45 | 34.47 | 37.90 | 38.15 |
| Total Unusual Items | 73.43 | - | 53.95 | - | - |
| Total Unusual Items Excluding Goodwill | 73.43 | - | 53.95 | - | - |
| Net Income Discontinuous Operations | 2.35 | 0 | 0 | - | - |
| Gain On Sale Of Security | 73.43 | - | 53.95 | - | - |
| 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 | 6.56 |
| Other Gand A | - | 6.11 | 6.34 | 6.52 | 6.56 |
| Other Operating Expenses | - | 90.45 | 101.21 | 103.24 | 106.38 |
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 | 46.31↑ premium | 11.98 | 25.9% | 17.98 |
| Forestar Group Inc. | FOR | $1.5B | 8.65 | 0.82 | 9.5% | 8.89 |
| Apollo Commercial Real Estate Finance, Inc. | ARI | $1.4B | 11.28 | 0.77 | 6.8% | - |
| Orchid Island Capital, Inc. | ORC | $1.3B | 8.43 | 0.98 | 11.6% | - |
| Ladder Capital Corp | LADR | $1.3B |
| - |
| - |
| - |
| - |
| - |
| 20.23 |
| 0.87 |
| 4.3% |
| - |
| Two Harbors Investment Corp. | TWO | $1.3B | -2.86 | 1.09 | -38.3% | - |
| UMH Properties, Inc. | UMH | $1.3B | 48.43 | 2.20 | 4.5% | 16.10 |
| Saul Centers, Inc. | BFS | $1.3B | 33.61 | 10.26 | 30.5% | 16.24 |
| Arbor Realty Trust, Inc. | ABR | $1.2B | 7.79 | 0.50 | 6.4% | - |
| Peer Median | - | 9.97 | 0.93 | 6.6% | 16.10 | |