Alexandria Real Estate Equities — Earnings Quality Grade F
ARE · Real Estate
Major red flags
Screening Summary
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 1 days, change +0 days YoY
AR growth 4.1% vs revenue growth -3.4%
Revenue -3.4%, CFFO -6.0%. Cash follows revenue
Expense Quality
No material inventory
Insufficient data
SG&A/Gross Profit = 5.8%, excellent (<30%)
Gross margin 68.7%, change -1.5pp. Stable
Cash Flow Quality
CFFO/NI = -0.99. Below 1.0
FCF $1.4B, FCF/NI = -0.99
Accruals ratio = -8.3%. Low accruals
Cash $0.5B covers only 4% of debt $12.8B
Balance Sheet Health
No goodwill. Clean balance sheet
Debt/EBITDA = 35.4x (>4x). Financial stress
Other assets -10.0% vs revenue -3.4%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
No goodwill
Manipulation Score
M-Score = -2.82 (< -2.22). Unlikely manipulator
Beneish M-Score
Altman Z-Score — Not Applicable
Alexandria Real Estate Equities is a financial company. Z-Score is designed for non-financial companies.
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-09