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Intrinsic value of Alexandria Real Estate Equities, Inc. (ARE)

Previous Close$159.78
Intrinsic Value
Upside potential
Previous Close
$159.78
* Our model cannot be used “out of the box” for the valuation of this stock. You can still do your own valuation by changing the valuation input parameters.
Use floor (the cash flow based valuation has rendered a result, which is lower than an estimated minimum value derived from the company’s balance sheet analysis)

VALUATION INPUT DATA (original, your and others' valuations)

ParameterOrig.Your
Date of valuation (DoV)  
Intrinsic value (IV) at DoV, $/sh  
IV at current val. algorithm, $/sh57.58 

The original valuation is based on fiscal year data as of 2021-12-31 and quarterly data as of 2022-03-31.

Registered users can save their valuation input data

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

Company description

Alexandria Real Estate Equities, Inc. (NYSE:ARE), an S&P 500® urban office real estate investment trust ("REIT"), is the first, longest-tenured, and pioneering owner, operator, and developer uniquely focused on collaborative life science, technology, and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $29.2 billion as of September 30, 2020, and an asset base in North America of 47.4 million square feet ("SF"). The asset base in North America includes 31.2 million RSF of operating properties and 2.8 million RSF of Class A properties undergoing construction, 7.2 million RSF of near-term and intermediate-term development and redevelopment projects, and 6.2 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland, and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, technology, and agtech campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity, and success. Alexandria also provides strategic capital to transformative life science, technology, and agtech companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns, and greater long-term asset value.

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2021(a)2022202320242025202620272028202920302031203220332034203520362037203820392040204120422043204420452046

INCOME STATEMENT

Revenue growth rate, %12.1NaN
Revenue, $2114NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m1596NaN
Operating income, $m518NaN
EBITDA, $m1294NaN
Interest expense (income), $mNaN
Earnings before tax, $m563NaN
Tax expense, $m0NaN
Net income, $m563NaN

BALANCE SHEET

Cash and short-term investments, $m415NaN
Total assets, $m30219NaN
Adjusted assets (=assets-cash), $m29804NaN
Average production assets, $m1123NaN
Working capital, $m-1788NaN
Total debt, $m9569NaN
Total liabilities, $m14029NaN
Total equity, $m16190NaN
Debt-to-equity ratio0.591NaN
Adjusted equity ratio0.529NaN

CASH FLOW

Net income, $m563NaN
Depreciation, amort., depletion, $m776NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m1010NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-7742NaN
Free cash flow, $m8752NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m-1788
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN
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