NYSE : SLG
SL Green Realty Corp. — Financial statements
Real Estate · REIT - Office · United States
Last price 50.36 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.84B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Rental Revenue | 741.77M | 680.11M | 606.00M | 683.34M | 671.50M | 678.18M |
| Tenant Reimbursements | 6.23M | |||||
| Other Revenue | 240.49M | 170.13M | 52.74M | 114.72M | 104.49M | 42.97M |
| Total Revenue | 1.06B | 946.90M | 706.58M | 837.20M | 861.50M | 805.91M |
| Property Expenses | 564.67M | 521.91M | 453.95M | 468.96M | 428.44M | 362.76M |
| Selling, General & Administrative | 91.13M | 89.31M | 85.19M | 111.39M | 93.80M | 94.91M |
| Depreciation & Amortization | 268.50M | 255.71M | 207.44M | 247.81M | 216.17M | 216.97M |
| Provision for Loan Losses | 142.65M | 71.33M | -6.89M | -2.93M | ||
| Other Operating Expenses | 2.90M | 3.26M | 730.00K | 9.20M | 2.65M | 1.00M |
| Total Operating Expenses | 784.54M | 798.87M | 747.31M | 844.25M | 741.05M | 678.57M |
| Operating Income | 277.64M | 148.04M | -40.73M | -7.04M | 120.44M | 127.33M |
| Interest Expense | -278.27M | -261.02M | -172.44M | -147.99M | -98.28M | -83.70M |
| Interest & Investment Income | 5.61M | 5.61M | 3.96M | 3.03M | 986.00K | 1.39M |
| Other Non-Operating Income | -14.91M | -50.17M | 88.56M | -18.36M | -8.53M | 206.30M |
| EBT Excluding Unusual Items | -9.92M | -157.54M | -120.64M | -170.35M | 14.63M | 251.32M |
| Gain (Loss) on Sale of Investments | 7.74M | 94.85M | 208.14M | -13.37M | -131.00K | -32.76M |
| Gain (Loss) on Sale of Assets | 42.49M | -34.23M | -101.05M | -414.74M | -90.80M | 263.62M |
| Other Unusual Items | 43.76M | -870.00K | -1.55M | |||
| Pretax Income | 40.31M | -96.92M | 30.22M | -599.34M | -76.30M | 480.63M |
| Earnings From Continuing Operations | 40.31M | -96.92M | 30.22M | -599.34M | -76.30M | 480.63M |
| Net Income to Company | 40.31M | -96.92M | 30.22M | -599.34M | -76.30M | 480.63M |
| Minority Interest in Earnings | -17.10M | 8.64M | 431.00K | 42.03M | 4.67M | -23.57M |
| Net Income | 23.22M | -88.28M | 30.65M | -557.30M | -71.63M | 457.06M |
| Preferred Dividends & Other Adjustments | 168.39M | 25.48M | 25.49M | 24.86M | 23.61M | 24.84M |
| Net Income to Common | -145.17M | -113.76M | 5.16M | -582.16M | -95.24M | 432.21M |
| Basic Shares Outstanding | 70.57M | 70.44M | 65.06M | 63.81M | 63.92M | 65.74M |
| Diluted Shares Outstanding | 70.57M | 70.44M | 65.69M | 67.97M | 67.93M | 70.77M |
| EPS (Basic) | -2.06 | -1.61 | 0.08 | -9.12 | -1.49 | 6.57 |
| EPS (Diluted) | -2.06 | -1.61 | 0.08 | -9.12 | -1.49 | 6.50 |
| Dividend Per Share | 3.16 | 2.83 | 3.01 | 3.23 | 3.69 | 3.76 |
| Operating Margin | 26.14% | 15.63% | -5.76% | -0.84% | 13.98% | 15.80% |
| Profit Margin | -13.67% | -12.01% | 0.73% | -69.54% | -11.06% | 53.63% |
| EBITDA | 550.82M | 409.78M | 169.29M | 226.54M | 330.89M | 340.14M |
| EBITDA Margin | 51.86% | 43.28% | 23.96% | 27.06% | 38.41% | 42.21% |
| D&A For Ebitda | 273.18M | 261.74M | 210.02M | 233.59M | 210.45M | 212.81M |
| EBIT | 277.64M | 148.04M | -40.73M | -7.04M | 120.44M | 127.33M |
| EBIT Margin | 26.14% | 15.63% | -5.76% | -0.84% | 13.98% | 15.80% |
| Funds From Operations (FFO) | 382.50M | 437.67M | 569.82M | 341.34M | 458.83M | 481.23M |
| FFO Per Share | 4.97 | 5.72 | 8.11 | 4.94 | 6.64 | |
| Adjusted Funds From Operations (AFFO) | 275.55M | 459.43M | 341.34M | 458.83M | 481.23M | |
| AFFO Per Share | 3.60 | 6.54 | 3.49 | 5.31 | ||
| Revenue as Reported | 1.07B | 1.00B | 886.27M | 913.71M | 919.45M | 861.31M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Property, Plant & Equipment | 5.71B | 5.72B | 5.35B | 5.02B | 7.16B | 5.75B |
| Cash & Equivalents | 186.44M | 155.75M | 184.29M | 221.82M | 203.27M | 251.42M |
| Accounts Receivable | 319.57M | 420.48M | 310.48M | 297.92M | 292.38M | 295.93M |
| Other Receivables | 17.20M | 16.29M | 26.86M | 12.17M | 27.35M | 29.41M |
| Investment In Debt and Equity Securities | 568.47M | 344.98M | 326.54M | 356.34M | 634.52M | 1.12B |
| Other Intangible Assets | 141.09M | 181.07M | 4.78M | 213.49M | 17.08M | |
| Loans Receivable Current | 1.00B | 1.04B | 732.79M | 8.80M | 9.00M | 10.50M |
| Restricted Cash | 199.51M | 180.75M | 147.34M | 113.70M | 180.78M | 85.57M |
| Other Current Assets | 224.25M | 140.85M | ||||
| Trading Asset Securities | 8.00M | 31.86M | 33.46M | 57.66M | 1.90M | |
| Deferred Long-Term Charges | 121.67M | 129.02M | 117.13M | 111.46M | 121.16M | 124.50M |
| Other Long-Term Assets | 3.44B | 2.93B | 3.06B | 3.35B | 3.46B | 3.23B |
| Total Assets | 11.79B | 11.08B | 10.47B | 9.53B | 12.36B | 11.07B |
| Current Portion of Long-Term Debt | 1.20B | 190.85M | ||||
| Current Portion of Leases | 11.51M | 58.24M | ||||
| Long-Term Debt | 4.07B | 4.78B | 4.10B | 3.41B | 5.42B | 3.95B |
| Long-Term Leases | 984.19M | 855.13M | 917.84M | 933.22M | 999.32M | 954.28M |
| Accounts Payable | 142.85M | 134.62M | 122.67M | 153.16M | 154.87M | 157.57M |
| Accrued Expenses | 17.02M | 15.22M | 16.53M | 17.93M | 14.23M | 12.70M |
| Other Current Liabilities | 49.78M | 2.54M | 21.82M | 20.28M | 21.57M | 251.49M |
| Long-Term Unearned Revenue | 158.25M | 147.42M | 164.89M | 134.05M | 272.25M | 107.28M |
| Other Long-Term Liabilities | 580.22M | 443.67M | 468.01M | 504.20M | 276.54M | 217.79M |
| Total Liabilities | 7.31B | 6.73B | 5.92B | 5.27B | 7.26B | 5.75B |
| Preferred Stock, Redeemable | 221.93M | 221.93M | 221.93M | 221.93M | 221.93M | 221.93M |
| Common Stock | 708.00K | 711.00K | 711.00K | 660.00K | 656.00K | 672.00K |
| Additional Paid-In Capital | 4.21B | 4.21B | 4.16B | 3.83B | 3.79B | 3.74B |
| Retained Earnings | -964.02M | -741.88M | -449.10M | -151.55M | 651.14M | 975.78M |
| Treasury Stock | -128.66M | -128.66M | -126.16M | |||
| Comprehensive Income & Other | 28.20M | -22.20M | 18.20M | 17.48M | 49.60M | -46.76M |
| Total Common Equity | 3.28B | 3.45B | 3.73B | 3.56B | 4.36B | 4.54B |
| Minority Interest | 971.17M | 681.93M | 603.66M | 474.16M | 509.82M | 553.70M |
| Shareholders' Equity | 4.47B | 4.35B | 4.55B | 4.26B | 5.09B | 5.32B |
| Total Liabilities & Equity | 11.79B | 11.08B | 10.47B | 9.53B | 12.36B | 11.07B |
| Total Debt | 6.37B | 5.99B | 5.12B | 4.44B | 6.52B | 5.00B |
| Net Cash (Debt) | -6.18B | -5.82B | -4.91B | -4.19B | -6.26B | -4.75B |
| Net Cash Per Share | -87.58 | -82.65 | -74.67 | -61.58 | -92.16 | -67.09 |
| Filing Date Shares Outstanding | 70.94M | 71.03M | 71.00M | 64.80M | 64.37M | 63.74M |
| Total Common Shares Outstanding | 70.94M | 71.16M | 71.10M | 64.73M | 64.38M | 64.11M |
| Book Value Per Share | 46.20 | 48.47 | 52.45 | 55.07 | 67.77 | 70.87 |
| Tangible Book Value | 3.28B | 3.31B | 3.55B | 3.56B | 4.15B | 4.53B |
| Tangible Book Value Per Share | 46.20 | 46.49 | 49.91 | 54.99 | 64.45 | 70.60 |
| Land | 1.53B | 1.70B | 1.36B | 1.09B | 1.58B | 1.35B |
| Buildings | 5.56B | 5.46B | 5.25B | 5.01B | 6.60B | 5.32B |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -88.28M | 30.65M | -557.30M | -71.63M | 457.06M | |
| Depreciation & Amortization | 261.74M | 210.02M | 233.59M | 210.45M | 212.81M | |
| Other Amortization | 7.05M | 6.62M | 7.84M | 7.82M | 11.42M | |
| Gain (Loss) on Sale of Assets | 2.14M | -3.02M | 32.37M | 84.48M | -287.42M | |
| Gain (Loss) on Sale of Investments | -60.07M | -297.11M | 30.63M | 8.25M | -177.31M | |
| Asset Writedown | 32.09M | 104.07M | 382.37M | 6.31M | ||
| Income (Loss) on Equity Investments | 56.74M | 192.69M | 86.41M | 58.74M | 56.23M | |
| Change in Accounts Receivable | 10.88M | -23.22M | 14.06M | 21.04M | -29.29M | |
| Change in Accounts Payable | -26.86M | -74.50M | 11.97M | -30.84M | -66.39M | |
| Change in Other Net Operating Assets | -70.22M | -30.01M | -31.14M | -48.88M | -23.11M | |
| Other Operating Activities | 41.52M | 18.20M | 3.77M | 12.02M | 100.78M | |
| Operating Cash Flow | 82.91M | 129.59M | 229.50M | 276.09M | 255.98M | |
| Acquisition of Real Estate Assets | -537.62M | -211.87M | -259.66M | -365.26M | -455.28M | |
| Sale of Real Estate Assets | 337.62M | 748.04M | 557.61M | 686.86M | 651.59M | |
| Net Sale / Acq. of Real Estate Assets | -200.00M | 536.17M | 297.95M | 321.60M | 196.32M | |
| Cash Acquisition | -65.30M | -23.05M | 9.47M | |||
| Investment in Marketable & Equity Securities | -214.50M | -276.48M | -126.60M | 104.21M | 787.79M | |
| Investing Cash Flow | -330.80M | 118.75M | 171.34M | 425.81M | 993.58M | |
| Long-Term Debt Issued | 1.31B | 1.17B | 667.66M | 1.98B | 1.58B | |
| Long-Term Debt Repaid | -925.76M | -1.58B | -853.83M | -2.16B | -2.18B | |
| Net Debt Issued (Repaid) | 379.35M | -404.53M | -186.17M | -172.51M | -603.93M | |
| Issuance of Common Stock | 251.00K | 439.10M | 525.00K | 525.00K | 1.56M | |
| Repurchase of Common Stock | -13.90M | -182.00K | -155.11M | -344.39M | ||
| Preferred Share Repurchases | -2.50M | -11.70M | -17.97M | -6.04M | ||
| Common & Preferred Dividends Paid | -242.63M | -218.82M | -230.93M | -262.14M | -271.07M | |
| Total Dividends Paid | -242.63M | -218.82M | -230.93M | -262.14M | -271.07M | |
| Other Financing Activities | 129.69M | -65.29M | -21.11M | -47.62M | -61.49M | |
| Net Cash Flow | 4.86M | -3.88M | -48.53M | 47.07M | -35.81M | |
| Levered Free Cash Flow | -206.50M | -687.61M | 283.04M | 107.40M | 400.86M | |
| Unlevered Free Cash Flow | -50.41M | -586.45M | 367.69M | 161.00M | 441.76M | |
| Cash Interest Paid | 220.34M | 200.75M | 229.12M | 169.52M | 152.77M | |
| Cash Income Tax Paid | 6.89M | 9.00M | 7.82M | 5.36M | 4.41M | |
| Change in Working Capital | -98.71M | -132.52M | 2.95M | -40.36M | -120.52M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.85B | 3.26B | 4.80B | 2.91B | 2.17B | 4.81B |
| Enterprise Value | 10.03B | 9.87B | 10.11B | 7.70B | 9.30B | 10.09B |
| Last Close Price | 50.36 | 43.99 | 61.99 | 39.17 | 26.33 | 53.66 |
| Price/FFO Ratio | 9.83 | 7.69 | 7.64 | 7.93 | 3.96 | |
| Price/AFFO Ratio | 12.21 | 9.48 | 11.23 | 4.96 | ||
| PE Ratio | 930.19 | 11.13 | ||||
| PS Ratio | 3.69 | 3.44 | 6.79 | 3.48 | 2.52 | 5.97 |
| PB Ratio | 1.09 | 0.75 | 1.05 | 0.68 | 0.43 | 0.91 |
| P/OCF Ratio | 42.48 | 39.30 | 37.04 | 12.68 | 7.86 | 18.80 |
| EV/Sales Ratio | 9.50 | 10.43 | 14.31 | 9.19 | 10.79 | 12.52 |
| EV/EBITDA Ratio | 18.33 | 24.10 | 59.74 | 33.97 | 28.11 | 29.66 |
| EV/EBIT Ratio | 36.36 | 66.70 | 77.22 | 79.24 | ||
| Debt / Equity Ratio | 1.42 | 1.38 | 1.12 | 1.04 | 1.28 | 0.94 |
| Debt / EBITDA Ratio | 11.02 | 13.79 | 26.44 | 17.50 | 18.22 | 13.64 |
| Net Debt / Equity Ratio | 1.38 | 1.34 | 1.08 | 0.98 | 1.23 | 0.89 |
| Net Debt / EBITDA Ratio | 11.22 | 14.21 | 28.97 | 18.48 | 18.92 | 13.96 |
| Asset Turnover | 0.09 | 0.09 | 0.07 | 0.08 | 0.07 | 0.07 |
| Quick Ratio | 0.37 | 1.50 | 3.36 | 2.95 | 3.05 | 1.37 |
| Current Ratio | 1.37 | 4.54 | 8.71 | 3.59 | 4.04 | 1.93 |
| Return on Equity (ROE) | 0.91% | -2.18% | 0.69% | -12.81% | -1.47% | 8.89% |
| Return on Assets (ROA) | 1.51% | 0.86% | -0.25% | -0.04% | 0.64% | 0.70% |
| Earnings Yield | -4.08% | -2.71% | 0.64% | -19.15% | -3.30% | 9.50% |
| Dividend Yield | 4.90% | 6.19% | 4.45% | 7.18% | 10.95% | 5.01% |
| Payout Ratio | 713.87% | 59.31% | ||||
| Buyback Yield / Dilution | -1.36% | -7.24% | 3.36% | -0.06% | 4.01% | 5.74% |
| Total Shareholder Return | 3.42% | -1.05% | 7.81% | 7.12% | 14.97% | 10.75% |