Alexander's Inc (ALX) financial statements: income statement, balance sheet and cash flow

Alexander's Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Alexander's Inc reported net income of $28.2M (-35.0% year on year).

Income statement

Alexander's Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Rental revenues	$213.2M	$226.4M	$225.0M	$205.8M
Operating, including fees to Vornado of $5,965, $6,581 and $6,480, respectively	($106.4M)	($103.2M)	($101.2M)	($90.4M)
Depreciation and amortization	($35.1M)	($34.8M)	($32.9M)	($29.8M)
General and administrative, including management fees to Vornado of $2,440 in each year	($6.6M)	($6.5M)	($6.3M)	($6.1M)
Total expenses	($148.0M)	($144.5M)	($140.4M)	($126.3M)
Interest and other income	$14.7M	$24.4M	$22.2M	$6.8M
Interest and debt expense	($51.6M)	($62.8M)	($58.3M)	($28.6M)
Net gain on sale of real estate	$0	$0	$54.0M	$0
Net income	$28.2M	$43.4M	$102.4M	$57.6M
Net income per common share, basic (usd per share)	$5.50	$8.46	$19.97	$11.24
Net income per common share, diluted (usd per share)	$5.50	$8.46	$19.97	$11.24
Weighted average shares outstanding - basic (in shares)	5.1M	5.1M	5.1M	5.1M
Weighted average shares outstanding - diluted (in shares)	5.1M	5.1M	5.1M	5.1M

Alexander's Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Rental revenues	$54.7M	$53.4M	$53.4M	$51.6M
Operating, including fees to Vornado of $2,114, $1,590, $3,525 and $3,182, respectively	($26.7M)	($29.0M)	($26.7M)	($25.9M)
Depreciation and amortization	($8.2M)	($8.8M)	($9.0M)	($8.7M)
General and administrative, including management fees to Vornado of $635, $610, $1,245, and $1,220, respectively	($3.3M)	($1.7M)	($1.3M)	($2.0M)
Total expenses	($38.2M)	($39.5M)	($37.1M)	($36.6M)
Interest and other income	$1.7M	$1.4M	$3.7M	$3.9M
Interest and debt expense	($10.8M)	($10.7M)	($14.1M)	($12.8M)
Net gain on sale of real estate	$148.0M	—	—	—
Net income	$155.4M	$4.7M	$6.0M	$6.1M
Net income per common share - basic (in usd per share)	$30.24	$0.91	$1.16	$1.19
Net income per common share - diluted (in usd per share)	$30.24	$0.91	$1.16	$1.19
Weighted average shares outstanding - basic (in shares)	5.1M	5.1M	5.1M	5.1M
Weighted average shares outstanding - diluted (in shares)	5.1M	5.1M	5.1M	5.1M

Balance sheet

Alexander's Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Land	$32.3M	$32.3M	$32.3M	$33.0M
Buildings and leasehold improvements	$1.1B	$1.0B	$1.0B	$1.0B
Development and construction in progress	$2.1M	$6.8M	$281.0K	$22.0M
Total	$1.1B	$1.1B	$1.1B	$1.1B
Accumulated depreciation and amortization	($473.1M)	($443.6M)	($415.9M)	($396.3M)
Real estate, net	$630.6M	$641.6M	$650.7M	$688.3M
Cash and cash equivalents	$128.2M	$338.5M	$531.9M	$194.9M
Restricted cash	$64.1M	$55.3M	$21.1M	$19.5M
Tenant and other receivables	$4.1M	$5.1M	$6.1M	$4.7M
Receivable arising from the straight-lining of rents	$109.1M	$111.8M	$124.9M	$127.5M
Deferred leasing costs, net, including unamortized leasing fees to Vornado of $20,649 and $22,380, respectively	$152.9M	$163.7M	$24.9M	$28.5M
Other assets	$21.8M	$25.4M	$44.2M	$67.3M
Assets	$1.1B	$1.3B	$1.4B	$1.4B
Mortgages payable, net of deferred debt issuance costs	$829.5M	$988.0M	$1.1B	$1.1B
Other liabilities	$21.9M	$22.6M	$21.7M	$20.6M
Accounts payable and accrued expenses	$36.5M	$38.7M	$51.8M	$48.8M
Lease incentive liabilities	$113.6M	$115.1M	—	—
Total liabilities	$1.0B	$1.2B	$1.2B	$1.2B
Preferred stock: $1.00 par value per share; authorized, 3,000,000 shares; issued and outstanding, none	$0.00	$0.00	$0.00	$0.00
Common stock: $1.00 par value per share; authorized, 10,000,000 shares; issued, 5,173,450 shares; outstanding, 5,107,290 shares	$5173000.00	$5173000.00	$5173000.00	$5173000.00
Additional capital	$35.2M	$34.8M	$34.3M	$33.9M
Retained earnings	$69.2M	$133.4M	$182.3M	$172.2M
Accumulated other comprehensive (loss) income	($9.0K)	$3.9M	$16.2M	$25.6M
Equity before treasury stock	$109.5M	$177.2M	$238.0M	$236.9M
Treasury stock: 66,160 shares, at cost	-368.0K	-368.0K	-368.0K	-368.0K
Total equity	$109.2M	$176.9M	$237.7M	$236.5M
Total liabilities and equity	$1.1B	$1.3B	$1.4B	$1.4B

Alexander's Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Land	$30.6M	$30.6M	$32.3M	$32.3M
Buildings and leasehold improvements	$973.8M	$972.3M	$1.1B	$1.1B
Development and construction in progress	$0	$0	$4.9M	$14.6M
Total	$1.0B	$1.0B	$1.1B	$1.1B
Accumulated depreciation and amortization	($435.8M)	($428.5M)	($466.6M)	($458.7M)
Real estate, net	$568.7M	$574.4M	$635.7M	$639.5M
Cash and cash equivalents	$303.3M	$76.2M	$286.1M	$313.0M
Restricted cash	$55.0M	$75.8M	$66.1M	$77.3M
Tenant and other receivables	$3.0M	$2.5M	$4.3M	$4.1M
Receivable arising from the straight-lining of rents	$109.6M	$108.6M	$109.6M	$109.7M
Deferred leasing costs, net, including unamortized leasing fees to Vornado of $20,044 and $20,649, respectively	$146.9M	$147.8M	$155.4M	$158.1M
Other assets	$16.5M	$56.3M	$38.9M	$19.1M
Assets	$1.2B	$1.1B	$1.3B	$1.3B
Mortgages payable, net of deferred debt issuance costs	$834.6M	$832.0M	$987.1M	$987.6M
Amounts due to Vornado	$23.1M	$21.9M	$22.2M	$22.6M
Accounts payable and accrued expenses	$28.1M	$38.0M	$45.0M	$51.5M
Lease incentive liability	$93.7M	$113.6M	$113.6M	$113.6M
Total liabilities	$979.4M	$1.0B	$1.2B	$1.2B
Preferred stock: $1.00 par value per share; authorized, 3,000,000 shares; issued and outstanding, none	$0.00	$0.00	$0.00	$0.00
Common stock: $1.00 par value per share; authorized, 10,000,000 shares; issued, 5,173,450 shares; outstanding, 5,107,290 shares	$5173000.00	$5173000.00	$5173000.00	$5173000.00
Additional capital	$35.8M	$35.2M	$35.2M	$35.2M
Retained earnings	$183.0M	$50.8M	$88.5M	$105.6M
Accumulated other comprehensive income (loss)	$2.0K	$9.0K	($126.0K)	($149.0K)
Equity before treasury stock	$224.0M	$91.1M	$128.7M	$145.8M
Treasury stock: 66,160 shares, at cost	-368.0K	-368.0K	-368.0K	-368.0K
Total equity	$223.6M	$90.7M	$128.3M	$145.4M
Total liabilities and equity	$1.2B	$1.1B	$1.3B	$1.3B

Cash flow statement

Alexander's Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$28.2M	$43.4M	$102.4M	$57.6M
Depreciation and amortization, including amortization of debt issuance costs	$38.1M	$37.9M	$34.6M	$31.5M
Amortization of deferred lease incentives	$7.4M	—	—	—
Net gain on sale of real estate	$0	$0	—	—
Straight-lining of rents	$2.7M	$13.1M	$2.6M	$8.0M
Stock-based compensation expense	$394.0K	$450.0K	$450.0K	$450.0K
Interest rate cap premium amortization	$600.0K	$6.5M	$7.8M	—
Other non-cash adjustments	$1.6M	$494.0K	($1.6M)	($2.9M)
Tenant and other receivables	$1.0M	$165.0K	($572.0K)	$1.7M
Other assets	($2.9M)	($149.4M)	$14.1M	$2.8M
Amounts due to Vornado	($713.0K)	$98.0K	($60.0K)	$40.0K
Accounts payable and accrued expenses	($1.4M)	($13.7M)	$3.3M	$3.1M
Lease incentive liabilities	($1.5M)	$115.1M	—	—
Other liabilities	($20.0K)	($19.0K)	($19.0K)	$338.0K
Net cash provided by operating activities	$73.4M	$54.1M	$109.1M	$102.5M
Construction in progress and real estate additions	($20.8M)	($19.8M)	($4.7M)	($14.4M)
Proceeds from interest rate cap	$0	$6.6M	$5.0M	—
Proceeds from maturities of U.S. Treasury bills	$0	$0	$264.9M	$99.4M
Proceeds from sale of real estate	$0	$0	$67.8M	$0
Purchase of interest rate cap	$0	$0	($11.3M)	—
Net cash (used in) provided by investing activities	($20.8M)	($13.2M)	$321.8M	($279.3M)
Dividends paid	($92.4M)	($92.4M)	($92.3M)	($92.3M)
Debt issuance costs	($1.8M)	($7.6M)	($104.0K)	($46.0K)
Debt repayments	($335.0M)	($500.0M)	$0	$0
Proceeds from borrowings	$175.0M	$400.0M	—	$0
Net cash used in financing activities	($254.3M)	($200.0M)	($92.4M)	($92.3M)
Net (decrease) increase in cash and cash equivalents and restricted cash	($201.6M)	($159.1M)	$338.5M	($269.0M)
Cash and cash equivalents at beginning of year	$338.5M	$531.9M	$194.9M	$463.5M
Restricted cash at beginning of year	$55.3M	$21.1M	$19.5M	$20.0M
Cash and cash equivalents and restricted cash at beginning of year	$393.8M	$553.0M	$214.5M	$483.5M
Cash and cash equivalents at end of year	$128.2M	$338.5M	$531.9M	$194.9M
Restricted cash at end of year	$64.1M	$55.3M	$21.1M	$19.5M
Cash and cash equivalents and restricted cash at end of year	$192.2M	$393.8M	$553.0M	$214.5M
Cash payments for interest	$48.2M	$59.7M	$54.0M	$25.9M
Write-off of fully depreciated assets	$1.1M	$2.2M	$8.1M	$23.0K
Liability for real estate additions, including $34 and $346 in 2025 and 2024, respectively, for development fees due to Vornado	$1.9M	$3.0M	$2.0M	$2.3M

Alexander's Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$160.0M	$4.7M	$24.4M	$18.4M
Net gain on sale of real estate	($148.0M)	—	—	—
Depreciation and amortization, including amortization of debt issuance costs	$18.3M	$9.4M	$28.7M	$18.9M
PIK interest expense	$3.8M	$1.9M	—	—
Amortization of deferred lease incentives	$3.5M	$1.7M	—	—
Stock-based compensation expense	$656.0K	—	$394.0K	$394.0K
Straight-lining of rents	($566.0K)	$506.0K	$2.1M	$2.0M
Interest rate cap premium amortization	$3.0K	$0	$470.0K	$322.0K
Other non-cash adjustments	$681.0K	$340.0K	$6.5M	$4.3M
Tenant and other receivables	$1.1M	$1.6M	$771.0K	$976.0K
Other assets	$1.2M	($15.6M)	($19.3M)	$1.2M
Amounts due to Vornado	$865.0K	($166.0K)	($497.0K)	($25.0K)
Accounts payable and accrued expenses	($8.8M)	$2.4M	$7.9M	$14.3M
Lease incentive liability	($19.9M)	—	($1.5M)	($1.5M)
Other liabilities	($11.0K)	($4.0K)	($15.0K)	($10.0K)
Net cash provided by operating activities	$13.0M	$6.8M	$50.0M	$59.3M
Proceeds from sale of real estate	$205.8M	—	—	—
Construction in progress and real estate additions	($6.5M)	($4.6M)	($19.0M)	($14.6M)
Net cash provided by (used in) investing activities	$199.3M	($23.9M)	($19.0M)	($14.6M)
Dividends paid	($46.2M)	($23.1M)	($69.3M)	($46.2M)
Debt repayments	$0	$0	($3.2M)	($2.0M)
Net cash used in financing activities	($46.2M)	($23.1M)	($72.6M)	($48.2M)
Net increase (decrease) in cash and cash equivalents and restricted cash	$166.1M	($40.2M)	($41.6M)	($3.5M)
Cash and cash equivalents at beginning of period	$128.2M	$128.2M	$338.5M	$338.5M
Restricted cash at beginning of period	$64.1M	$64.1M	$55.3M	$55.3M
Cash and cash equivalents and restricted cash at beginning of period	$192.2M	$192.2M	$393.8M	$393.8M
Cash and cash equivalents at end of period	$303.3M	$75.8M	$286.1M	$313.0M
Restricted cash at end of period	$55.0M	$152.1M	$66.1M	$77.3M
Cash and cash equivalents and restricted cash at end of period	$358.3M	—	$352.3M	$390.3M
Cash payments for interest	$16.5M	$8.2M	$34.1M	$20.9M
Liability for real estate additions, including $79 and $207 for development fees, respectively, due to Vornado	$667.0K	$1.0M	$1.2M	$1.4M
Write-off of fully depreciated assets	$81.0K	$81.0K	$0	$0

Alexander's Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.