Top line accelerating.
+14.0% YoY versus +10.7% prior. 3y CAGR +10.9%.
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Real Estate · Market Cap: $13.3B
Fundamentals as of 2025-12-31
+14.0% YoY versus +10.7% prior. 3y CAGR +10.9%.
Net margin 49.3% versus 38.6% prior (+10.6pp). Operating 62.6%.
P/E 21.5x — 11% below the 5y median of 24.1x.
FCF $878.6M versus $712.7M prior. FCF margin 73%; 149% of net income; CapEx 0% of OCF.
Net cash $27.0M versus $518.4M prior. Liquidity: current ratio 3.5.
Dividend distribution not reported versus prior comparable.
Current: 0.00x
Income · Balance · Cash Flow