Is it safe?
Can SAFE take a bad year?
Safehold Inc. carries $4.68B of net debt at 42.8× EBITDA: a heavy load to carry through a bad year.
$4.68B
Net debt · as at Q1 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 42.8×
Net debt / EBITDA · 44.4× a year ago · the load is coming down
- Interest cover
- 0.48×
Interest cover · operating profit barely covers the interest bill
- Annualised volatility
- 35%
Annualised volatility · about as steady as the market itself
Details›
- Total debtQ1 2026
- $4.70B
- Cash and short-term investments
- $19M
- Net debt
- $4.68B
- EBITDA, trailing twelve months
- $109M
- Operating profit, trailing twelve months
- $101M
- Debt / equity
- 1.93×
- Total debt / EBITDA
- 43.0×
- Annualised volatilitytwo years of daily moves
- 35%
- Worst drawdown on file
- −89%
- Below its 52-week high
- −11%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.