COMP <GO>
SAFE vs ARI // EV/EBITDA & P/E VALUATION
Safehold Inc. (NYSE) VS. Apollo Commercial Real Estate Finance Inc (NYSE) • 15-METRIC TALLY: SAFE 4
— ARI 5
■ METRIC PARITY
LAST: $11.34 (+3.37%) • MKT CAP: $803.1M
valuation
7.7x
LAST: $6.45 (-1.68%) • MKT CAP: $827.0M
valuation
—
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (SAFE VS. ARI)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | SAFE | ARI | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | — | — | — | TIE | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | 3.30% | 6.80% | -3.50 | ARI | /roic <GO> |
| EV/EBITDA & P/E Valuation ACTIVE | 7.7x | — | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | 5.95% | 17.23% | -11.28 | ARI | /fcf-yield <GO> |
| Operating Margin | 26.20% | — | — | TIE | /operating-margins <GO> |
| Net Profit Margin | 29.70% | 46.70% | -17.00 | ARI | /net-margins <GO> |
| Revenue Growth (YoY) | 5.40% | -10.60% | +16.00 | SAFE | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 6.34% | 0.00% | +6.34 | SAFE | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | — | — | — | TIE | /balance-sheet <GO> |
| Piotroski F-Score Quality | 6/9 | 5/9 | +1.00 | SAFE | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 40.6 | 8.5 | +32.10 | SAFE | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | — | — | — | TIE | /macro-sensitivity <GO> |
| Forward P/E Multiple | 6.5x | 6.0x | +0.50 | ARI | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $803.1M | $827.0M | -$23.9M | ARI | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | SAFE REV | ARI REV | SAFE GROSS % | ARI GROSS % | SAFE FCF | ARI FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $385.6M | $271.6M | — | — | $47.8M | $142.5M |
| FY 2024 | $365.7M | $303.7M | — | — | $37.9M | $200.3M |
| FY 2023 | $352.6M | $344.6M | — | — | $15.4M | $273.9M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
SAFE // BETA —
ARI // BETA —