SL GREEN REALTY CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data SL GREEN REALTY CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,864	1,511	1,227	1,239	1,053	861	919	914	886	1,003
Selling, general and administrative	99.8	100	92.6	101	91.8	94.9	93.8	111	85.2	89.3
Operating income							606	599	731	652
Interest expense	321	257	237	247	186	145	166	229	196	216
Interest income	213	194	201	196	120	80.3	81.1	34.7	24.4	29.4
Pre-tax income	-4.62	165
Income tax	2.8	4.3	2.8	1.5	1.2	2.8	2.6	9.2	0.7
Income from continuing operations	-25.6	172
Net income to minority interests	29	-0.31	23.6	21.1	43.7	30.9	1.77	-34.8	8.21	-0.01
Net income	250	101	247	270	371	450	-78.1	-565	22	-96.9
EBITDA							830	854	945	915
EPS, basic	2.35	0.88	2.75	3.29	5.03	6.57	-1.49	-9.12	0.08	-1.61
EPS, diluted	2.34	0.87	2.75	3.28	5.01	6.50	-1.49	-9.12	0.08	-1.61
Shares, basic (weighted)	100	98.6	84.1	77.1	70.4	65.7	63.9	63.8	65.1	70.4
Shares, diluted (weighted)	105	103	89.1	81.9	75.1	70.8	67.9	68	65.7	70.4
Dividend per share	2.94	3.14	3.38	3.64	4.94	6.27	3.69	3.23	3.01	3.09

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	279	128	129	166	266	251	203	222	184	156
Lease right-of-use assets			0	397	367	984	1,026	886	866	864
Intangible assets	240	48.8	25.5	27	25.2	17.1	213	4.78	181	141
Total assets	15,858	13,983	12,751	12,766	11,708	11,067	12,356	9,531	10,470	11,083
Total liabilities	7,331	6,630	6,115	6,556	6,211	5,748	7,261	5,271	5,915	6,730
Total debt	4,074	2,837	1,961	2,183	1,980	1,394	3,228
Paid-in capital	5,625	4,968	4,509	4,286	3,863	3,739	3,790	3,826	4,160	4,213
Retained earnings	1,579	1,139	1,279	1,085	1,015	976	651	-152	-449	-742
Treasury stock	-124	-124	-124	-124	-124	-126	-129	-129	0
Other comprehensive income	22.1	18.6	15.1	-28.5	-67.2	-46.8	49.6	17.5	18.2	-22.2
Shareholders' equity	7,324	6,225	5,902	5,441	4,910	4,765	4,585	3,786	3,951	3,671
Total equity	7,751	6,589	5,948	5,517	4,936	4,778	4,647	3,856	4,070	3,912
Total liabilities and equity	15,858	13,983	12,751	12,766	11,708	11,067	12,356	9,531	10,470	11,083
Shares outstanding	102	93.9	84.7	78	67.5	65.1	65.4	65.8	71.1	71.2

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	279	101	271	291	415	481	-76.3	-599	30.2	-96.9
Depreciation and amortization	846	419	290	284	325	228	224	256	214	263
Change in receivables	4.78	-5.72	6.97	-4.97	-17.1	-20.6	14.4	-1.73	-11.8	0.21
Cash from operations	644	543	442	376	554	256	276	230	130	82.9
Capital expenditures	-412	-336	-254	-253
Purchases of investments	-977			0	0	-10	0	0	-12.4	-41.4
Sales and maturities of investments	6.97	55.1	0	0	0	4.5	3.7	0	0	20.4
Cash from investing	1,973	22	682	114	1,056	994	426	171	119	-331
Stock issued	0	0	29	0.33	1.01	1.56	0	0	387	-1.09
Share buybacks	0	-806	-980	-384	-528	-341	-151	0	0
Dividends paid	-314	-334	-313	-306	-294	-271	-262	-231	-219	-243
Cash from financing	-2,736	-685	-1,094	-529	-1,479	-1,285	-655	-449	-252	253
Net change in cash	-119	-120	29.1	-37.7	131	-35.8	47.1	-48.5	-3.88	4.86
Free cash flow	232	207	187	123
Interest paid	344	274	260	249	201	153	170	229	201	220
Income taxes paid	2.01	2.45	1.42	1.49	2.3	4.41	5.36	7.82	9	6.89

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to March 31, 2026; growth uses fiscal years. Valuation uses the share price of $51.01 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	65.1%	Operating income / revenue.
EBITDA margin	90.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Net margin	-15.8%	Net income / revenue.
Operating cash flow margin	5.8%	Cash from operations / revenue.
Return on equity (ROE)	-4.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.4%	Net income / average total assets.
Return on invested capital (ROIC)	15.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	8.9%	Selling, general and administrative expense / revenue.
D&A / revenue	25.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	13.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-1.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-10.8%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	2.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-3.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	3.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-540.3%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-2,112.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-36.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-33.0%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-31.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	2.7%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-5.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-8.9%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-7.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-7.1%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-5.6%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	5.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-3.6%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-1.1%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	7.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Liabilities / assets	62.9%	Total liabilities / total assets.
Goodwill and intangibles / assets	1.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	$3.31B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.09x	Revenue / average total assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$2.27	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$14.38	Revenue / diluted weighted shares.
Operating cash flow per share	$0.83	Cash from operations / diluted weighted shares.
Book value per share	$49.72	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$46.60	Tangible book value / shares outstanding.
Cash per share	$2.02	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$3.61B	Share price x shares outstanding.
Enterprise value	$3.47B	Market cap + total debt - cash - short-term investments.
P/S	3.56x	Market cap / revenue.
P/B	1.02x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.09x	Market cap / tangible book value, when positive.
P/OCF	61.7x	Market cap / cash from operations, when positive.
EV/Sales	3.41x	Enterprise value / revenue.
EV/EBIT	5.25x	Enterprise value / operating income, when both are positive.
EV/EBITDA	3.76x	Enterprise value / EBITDA, when both are positive.
Earnings yield	-4.4%	Net income / market cap (the inverse of P/E).
Dividend yield	5.1%	Dividends paid over the period / market cap.
Shareholder yield	5.1%	(Dividends paid + share buybacks) / market cap.

What was SL GREEN REALTY CORP's revenue in fiscal 2025?

SL GREEN REALTY CORP reported revenue of $1.00B for fiscal 2025, 13.2% higher than the year before.

Was SL GREEN REALTY CORP profitable in fiscal 2025?

No. It reported a net loss of $96.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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