Alexandria Real Estate Equities balance sheet

At the end of fiscal 2025, Alexandria Real Estate Equities had total assets of $34.08bn, total liabilities of $14.93bn and shareholders' equity of $15.47bn. It held $549m in cash against $12.40bn of debt: net debt of $11.85bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Alexandria Real Estate Equities: balance sheet, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash and equivalents	0.1	0.3	0.2	0.2	0.6	0.4	0.8	0.6	0.6	0.5	0.5
Total assets	10.4	12.1	14.5	18.4	22.8	30.2	35.5	36.8	37.5	34.1	34.1
Long-term debt	4.2	4.8	5.5	6.8	7.6	8.8	10.2	11.3	12.2	12.4	12.9
Total debt	4.2	4.8	5.5	6.8	7.6	8.8	10.2	11.4	12.3	12.4	13.0
Total liabilities	5.0	5.6	6.6	8.2	9.4	11.2	12.8	14.1	15.1	14.9	15.6
Shareholders' equity	4.9	5.9	7.3	8.9	11.7	16.2	19.0	18.5	17.9	15.5	14.8
Non-controlling interests and other (assets − liabilities − equity)	0.5	0.5	0.6	1.3	1.7	2.8	3.7	4.2	4.5	3.7	3.6
Net debt (negative = net cash)	4.1	4.5	5.3	6.6	7.0	8.5	9.4	10.8	11.8	11.9	12.5
Shares outstanding	88m	100m	111m	121m	137m	158m	171m	172m	172m	171m	—

US$ billions unless shown otherwise. Fiscal quarters.

Alexandria Real Estate Equities: balance sheet, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Total assets	37.5	37.6	37.6	37.4	34.1	34.2	34.6	34.1
Long-term debt	12.2	13.1	13.3	13.6	12.4	12.5	12.8	12.9
Total debt	12.2	13.1	13.3	13.6	12.4	12.5	12.8	12.9
Total liabilities	15.1	15.6	15.9	16.3	14.9	14.8	15.5	15.6
Shareholders' equity	17.9	17.5	17.2	16.6	15.5	15.7	15.6	14.8
Non-controlling interests and other (assets − liabilities − equity)	4.5	4.5	4.6	4.5	3.7	3.6	3.6	3.6
Shares outstanding	172m	—	—	—	171m	—	—	—

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Alexandria Real Estate Equities's SEC filings (10-K and 10-Q), retrieved October 27, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Alexandria Real Estate Equities.