Income Statement

Revenue

+14%

+61%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	28	28	26	25	25	25	26	26	26	27	27	29	33	38	44	49	53	58	64	69	77	80	84	92	89	88	87	85	82	85	85	77	79	77	72	66	55	53	51	63	62	63	66	69	71	69	68	68	69	71	75	79	83	93	100	106	107	106	104	107	112	119	124	129	136	142	153	157	160	164	168	174	180	182	180	172	162	152	145	142	135	124	112	94	79	71	60	74	101	130	162	186	196	205	217	227
Revenue	131 N/A	135 +3%	137 +2%	142 +4%	149 +4%	153 +3%	158 +3%	160 +1%	163 +2%	167 +2%	174 +4%	183 +5%	196 +7%	209 +7%	224 +7%	232 +3%	252 +9%	264 +5%	288 +9%	302 +5%	337 +12%	361 +7%	377 +4%	388 +3%	411 +6%	423 +3%	435 +3%	429 -1%	452 +5%	467 +3%	470 +1%	445 -5%	441 -1%	435 -1%	441 +2%	449 +2%	486 +8%	503 +3%	518 +3%	537 +4%	544 +1%	559 +3%	563 +1%	575 +2%	589 +3%	597 +1%	613 +3%	631 +3%	656 +4%	679 +3%	706 +4%	727 +3%	748 +3%	775 +4%	808 +4%	844 +4%	863 +2%	885 +3%	897 +1%	922 +3%	977 +6%	1 024 +5%	1 079 +5%	1 128 +5%	1 177 +4%	1 229 +4%	1 286 +5%	1 328 +3%	1 366 +3%	1 415 +4%	1 464 +3%	1 531 +5%	1 612 +5%	1 676 +4%	1 830 +9%	1 886 +3%	1 926 +2%	1 998 +4%	2 001 +0%	2 114 +6%	2 273 +7%	2 435 +7%	2 572 +6%	2 669 +4%	2 753 +3%	2 817 +2%	2 872 +2%	2 966 +3%	3 043 +3%	3 106 +2%	3 182 +2%	3 234 +2%	3 223 0%	3 216 0%	3 188 -1%	3 039 -5%
Gross Profit
Cost of Revenue	(26)	(27)	(28)	(29)	(31)	(32)	(33)	(33)	(33)	(34)	(36)	(38)	(42)	(46)	(50)	(51)	(56)	(58)	(64)	(68)	(78)	(86)	(91)	(95)	(102)	(106)	(111)	(104)	(109)	(111)	(113)	(111)	(112)	(112)	(115)	(121)	(134)	(141)	(147)	(158)	(159)	(165)	(168)	(173)	(178)	(182)	(185)	(189)	(196)	(202)	(212)	(219)	(228)	(238)	(249)	(261)	(266)	(271)	(274)	(278)	(290)	(299)	(311)	(326)	(340)	(355)	(372)	(381)	(391)	(405)	(421)	(446)	(473)	(491)	(515)	(530)	(539)	(559)	(585)	(624)	(667)	(719)	(755)	(783)	(809)	(824)	(841)	(859)	(871)	(876)	(892)	(909)	(917)	(925)	(930)	(923)
Gross Profit	104 N/A	108 +3%	110 +2%	113 +3%	118 +4%	121 +3%	125 +4%	128 +2%	130 +2%	134 +3%	138 +3%	145 +5%	153 +6%	164 +7%	175 +7%	180 +3%	195 +8%	206 +6%	224 +9%	234 +5%	260 +11%	276 +6%	287 +4%	293 +2%	309 +5%	317 +2%	324 +2%	325 +0%	343 +6%	356 +4%	357 +0%	334 -6%	329 -2%	322 -2%	326 +1%	328 +1%	352 +7%	362 +3%	371 +2%	379 +2%	385 +2%	394 +2%	395 +0%	402 +2%	411 +2%	416 +1%	428 +3%	442 +3%	460 +4%	477 +4%	494 +4%	508 +3%	520 +2%	537 +3%	559 +4%	582 +4%	597 +3%	614 +3%	623 +1%	643 +3%	687 +7%	724 +5%	768 +6%	803 +5%	837 +4%	874 +4%	914 +5%	946 +3%	975 +3%	1 010 +4%	1 042 +3%	1 086 +4%	1 139 +5%	1 184 +4%	1 315 +11%	1 355 +3%	1 387 +2%	1 439 +4%	1 417 -2%	1 491 +5%	1 606 +8%	1 716 +7%	1 817 +6%	1 886 +4%	1 944 +3%	1 993 +2%	2 031 +2%	2 107 +4%	2 172 +3%	2 230 +3%	2 291 +3%	2 324 +1%	2 306 -1%	2 291 -1%	2 257 -1%	2 116 -6%
Operating Income
Operating Expenses	(44)	(45)	(47)	(46)	(51)	(53)	(54)	(53)	(54)	(54)	(55)	(58)	(61)	(65)	(70)	(74)	(80)	(84)	(91)	(97)	(108)	(116)	(121)	(125)	(130)	(135)	(139)	(137)	(143)	(147)	(149)	(148)	(204)	(204)	(206)	(154)	(105)	(115)	(124)	(192)	(200)	(214)	(225)	(233)	(242)	(234)	(236)	(238)	(245)	(255)	(266)	(278)	(287)	(293)	(305)	(321)	(334)	(342)	(352)	(377)	(408)	(445)	(478)	(492)	(512)	(530)	(547)	(568)	(590)	(609)	(631)	(653)	(702)	(741)	(791)	(832)	(839)	(867)	(902)	(973)	(1 039)	(1 097)	(1 153)	(1 179)	(1 280)	(1 245)	(1 256)	(1 293)	(1 314)	(1 330)	(1 352)	(1 371)	(1 409)	(1 449)	(1 480)	(1 468)
Selling, General & Administrative	(12)	(13)	(13)	(13)	(14)	(14)	(14)	(14)	(14)	(15)	(15)	(15)	(16)	(17)	(19)	(21)	(23)	(25)	(25)	(26)	(28)	(29)	(31)	(32)	(33)	(34)	(34)	(35)	(35)	(36)	(37)	(37)	(36)	(36)	(34)	(35)	(34)	(37)	(39)	(41)	(42)	(44)	(46)	(48)	(49)	(49)	(48)	(49)	(50)	(51)	(52)	(54)	(55)	(56)	(58)	(60)	(60)	(61)	(62)	(64)	(68)	(72)	(74)	(75)	(78)	(82)	(87)	(90)	(93)	(96)	(101)	(109)	(116)	(122)	(131)	(133)	(135)	(142)	(143)	(152)	(158)	(164)	(176)	(177)	(185)	(187)	(183)	(199)	(198)	(197)	(195)	(168)	(152)	(136)	(122)	(117)
Depreciation & Amortization	(32)	(33)	(33)	(33)	(34)	(36)	(37)	(39)	(39)	(40)	(41)	(43)	(45)	(48)	(51)	(53)	(57)	(60)	(66)	(71)	(80)	(86)	(90)	(93)	(98)	(102)	(105)	(102)	(108)	(111)	(112)	(111)	(112)	(112)	(116)	(119)	(128)	(136)	(143)	(151)	(158)	(171)	(179)	(186)	(190)	(185)	(188)	(189)	(193)	(204)	(214)	(224)	(233)	(238)	(247)	(261)	(273)	(281)	(290)	(313)	(340)	(374)	(404)	(417)	(434)	(449)	(460)	(478)	(498)	(513)	(529)	(545)	(586)	(620)	(661)	(698)	(704)	(726)	(760)	(821)	(881)	(933)	(977)	(1 002)	(1 027)	(1 058)	(1 073)	(1 093)	(1 116)	(1 133)	(1 158)	(1 202)	(1 257)	(1 312)	(1 359)	(1 350)
Other Operating Expenses	0	0	0	0	(4)	(4)	(3)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(56)	(56)	(56)	0	58	58	58	0	0	0	0	0	(4)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(68)	0	0	0	0	0	0	0	0	0	0	0
Operating Income	60 N/A	62 +3%	63 +1%	67 +6%	66 -1%	68 +3%	71 +5%	75 +5%	77 +3%	80 +4%	83 +4%	87 +5%	93 +6%	99 +7%	104 +6%	106 +2%	116 +9%	122 +6%	133 +9%	137 +3%	152 +11%	160 +5%	166 +4%	168 +1%	179 +6%	182 +2%	185 +2%	188 +2%	200 +6%	209 +4%	208 -1%	186 -10%	125 -33%	119 -5%	120 +1%	174 +45%	248 +42%	247 0%	247 0%	187 -24%	185 -1%	179 -3%	171 -5%	168 -1%	169 +0%	181 +7%	192 +6%	205 +7%	215 +5%	221 +3%	228 +3%	230 +1%	232 +1%	244 +5%	254 +4%	261 +3%	263 +1%	272 +3%	270 -1%	266 -2%	279 +5%	279 0%	290 +4%	311 +7%	325 +5%	344 +6%	367 +7%	378 +3%	385 +2%	401 +4%	412 +3%	432 +5%	437 +1%	443 +1%	523 +18%	524 +0%	548 +5%	572 +4%	514 -10%	518 +1%	566 +9%	619 +9%	664 +7%	707 +6%	664 -6%	747 +12%	775 +4%	814 +5%	858 +5%	901 +5%	938 +4%	954 +2%	897 -6%	842 -6%	777 -8%	649 -16%
Pre-Tax Income
Interest Income Expense	(28)	(28)	(26)	(25)	(26)	(26)	(26)	(27)	(26)	(27)	(27)	(29)	(33)	(38)	(44)	(49)	(53)	(58)	(64)	(69)	(77)	(80)	(84)	(92)	(89)	(88)	(87)	(85)	(82)	(85)	(85)	(77)	(80)	(77)	(72)	(66)	(55)	(53)	(51)	(63)	(62)	(63)	(66)	(69)	(71)	(69)	(68)	(68)	(69)	(71)	(75)	(79)	(82)	(91)	(97)	(104)	(107)	(106)	(105)	(107)	(111)	(117)	(109)	(113)	(34)	(27)	110	23	19	24	(204)	31	(85)	79	149	258	297	425	496	130	(131)	(495)	(609)	(506)	(293)	(295)	(304)	(275)	(207)	(222)	(174)	(291)	(399)	(375)	(371)	(209)
Non-Reccuring Items	0	0	0	(4)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(2)	(2)	(2)	(13)	(11)	0	0	11	11	(42)	(43)	(45)	(48)	(7)	(9)	(7)	(5)	(5)	(2)	(4)	0	(3)	(4)	(2)	0	(1)	(1)	(52)	(67)	(67)	(66)	(23)	(38)	(194)	(205)	(213)	(184)	(28)	(17)	(4)	(3)	(9)	(10)	(7)	(15)	(9)	(48)	(60)	(55)	(68)	(88)	(109)	(179)	(171)	(153)	(120)	(48)	(46)	(42)	(68)	0	(257)	(267)	(536)	(550)	(402)	(369)	(281)	(310)	(435)	(768)	(2 299)
Gain/Loss on Disposition of Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	12	0	0	0	4	4	4	4	0	0	0	0	9	0	0	0	1	0	0	2	154	157	157	155	127	124	338	662	538	0	539	215	277	277	63	90	129	142	142	124	642
Total Other Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	59	59	59	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	12	13	13	0	0	0	0	0	0	0	0	0	9	9	9	0	0	0	0	0	0	0	0	0	0	0	0	0	538	0	0	0	0	0	0	0	0	0	0	0
Pre-Tax Income	32 N/A	35 +8%	37 +6%	38 +4%	41 +7%	43 +4%	45 +6%	48 +7%	51 +5%	53 +5%	56 +6%	58 +4%	59 +1%	61 +3%	60 -1%	57 -5%	63 +10%	64 +2%	69 +8%	68 -1%	75 +10%	80 +7%	82 +3%	76 -7%	88 +16%	92 +4%	97 +6%	90 -7%	107 +19%	124 +16%	123 -1%	120 -2%	57 -53%	0 -99%	6 +1 300%	63 +1 018%	204 +227%	246 +20%	246 +0%	117 -52%	119 +1%	111 -6%	102 -8%	95 -7%	98 +3%	109 +12%	119 +9%	135 +13%	146 +9%	149 +2%	153 +2%	99 -35%	83 -16%	86 +3%	90 +4%	146 +63%	131 -10%	(15) N/A	(27) -73%	(50) -88%	(12) +76%	137 N/A	168 +23%	194 +15%	288 +48%	307 +7%	467 +52%	403 -14%	398 -1%	425 +7%	169 -60%	404 +138%	298 -26%	454 +52%	586 +29%	827 +41%	822 -1%	983 +20%	1 012 +3%	654 -35%	511 -22%	416 -19%	675 +62%	671 -1%	910 +36%	734 -19%	419 -43%	281 -33%	379 +35%	339 -10%	484 +43%	511 +5%	330 -35%	174 -47%	(237) N/A	(1 217) -412%
Net Income
Tax Provision	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Income from Continuing Operations	32	35	37	38	41	43	45	48	51	53	56	58	59	61	60	57	63	64	69	68	75	80	82	76	88	92	97	90	107	124	123	120	57	0	6	63	204	246	246	117	119	111	102	95	98	109	119	135	146	149	153	99	83	86	90	146	131	(15)	(27)	(50)	(12)	137	168	194	288	307	467	403	398	425	169	404	298	454	586	827	822	983	1 012	654	511	416	675	671	910	734	419	281	379	339	484	511	330	174	(237)	(1 217)
Income to Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(0)	(1)	(1)	(1)	(2)	(2)	(3)	(3)	(4)	(4)	(4)	(4)	(4)	(4)	(4)	(7)	(7)	(7)	(7)	(4)	(4)	(4)	(4)	(4)	(4)	(4)	(4)	(4)	(4)	(3)	(4)	(4)	(4)	(4)	(4)	(5)	(5)	(5)	(5)	(4)	(2)	(2)	(6)	(9)	(13)	(16)	(18)	(22)	(23)	(25)	(25)	(24)	(24)	(24)	(25)	(28)	(33)	(41)	(45)	(51)	(54)	(56)	(62)	(67)	(74)	(83)	(98)	(116)	(133)	(149)	(161)	(167)	(173)	(177)	(182)	(186)	(187)	(188)	(187)	(184)	(173)	(213)
Net Income (Common)	28 N/A	30 +6%	32 +7%	32 N/A	34 +7%	36 +7%	47 +30%	51 +8%	54 +6%	53 -1%	45 -15%	46 +1%	44 -5%	46 +6%	47 +1%	47 +1%	49 +4%	50 +2%	53 +6%	57 +8%	60 +4%	68 +14%	73 +8%	70 -4%	97 +37%	95 -2%	94 -1%	91 -3%	121 +34%	134 +11%	133 -1%	105 -21%	55 -47%	3 -95%	7 +165%	106 +1 435%	50 -53%	96 +94%	98 +2%	102 +4%	96 -6%	88 -9%	74 -16%	68 -8%	72 +6%	80 +11%	94 +17%	109 +16%	119 +9%	121 +2%	124 +2%	72 -42%	57 -21%	61 +6%	66 +8%	117 +78%	95 -18%	(64) N/A	(91) -43%	(151) -66%	(122) +20%	38 N/A	84 +121%	145 +74%	253 +74%	273 +8%	431 +58%	364 -16%	355 -3%	379 +7%	120 -68%	351 +192%	245 -30%	396 +61%	525 +33%	761 +45%	751 -1%	905 +21%	927 +2%	563 -39%	405 -28%	294 -27%	534 +82%	513 -4%	739 +44%	556 -25%	236 -57%	92 -61%	184 +99%	140 -24%	283 +102%	310 +10%	131 -58%	(21) N/A	(421) -1 862%	(1 438) -242%
EPS (Diluted)	1.67 N/A	1.72 +3%	1.93 +12%	1.75 -9%	1.75 N/A	1.86 +6%	2.42 +30%	2.64 +9%	2.74 +4%	2.69 -2%	2.29 -15%	2.31 +1%	2.2 -5%	2.21 +0%	2.41 +9%	2.22 -8%	2.15 -3%	2.36 +10%	1.98 -16%	2.24 +13%	2.04 -9%	2.3 +13%	2.75 +20%	2.36 -14%	3.04 +29%	2.95 -3%	2.94 0%	2.85 -3%	3.72 +31%	3.61 -3%	3.41 -6%	2.72 -20%	1.26 -54%	0.06 -95%	0.16 +167%	2.18 +1 263%	0.9 -59%	1.7 +89%	1.6 -6%	1.72 +7%	1.56 -9%	1.42 -9%	1.18 -17%	1.08 -8%	1.13 +5%	1.18 +4%	1.31 +11%	1.59 +21%	1.67 +5%	1.71 +2%	1.75 +2%	1 -43%	0.78 -22%	0.83 +6%	0.9 +8%	1.63 +81%	1.31 -20%	-0.85 N/A	-1.17 -38%	-1.99 -70%	-1.37 +31%	0.4 N/A	0.88 +120%	1.58 +80%	2.48 +57%	2.54 +2%	4.08 +61%	3.52 -14%	3.18 -10%	3.39 +7%	1.07 -68%	3.12 +192%	1.98 -37%	3.18 +61%	4.17 +31%	6.01 +44%	5.21 -13%	5.86 +12%	6.11 +4%	3.82 -37%	2.51 -34%	1.8 -28%	3.32 +84%	3.18 -4%	4.32 +36%	3.25 -25%	1.39 -57%	0.54 -61%	1.07 +98%	0.81 -24%	1.64 +102%	1.8 +10%	0.76 -58%	-0.13 N/A	-2.47 -1 800%	-8.44 -242%

Income Statement Balance Sheet Cash Flow Statement

Alexandria Real Estate Equities Inc
NYSE:ARE

Income Statement

Earnings Waterfall
Alexandria Real Estate Equities Inc

Income Statement
Alexandria Real Estate Equities Inc

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Alexandria Real Estate Equities Inc NYSE:ARE

Income Statement

Earnings Waterfall Alexandria Real Estate Equities Inc

Income Statement Alexandria Real Estate Equities Inc

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Alexandria Real Estate Equities Inc
NYSE:ARE

Earnings Waterfall
Alexandria Real Estate Equities Inc

Income Statement
Alexandria Real Estate Equities Inc