SLG Stock Analysis: SL Green Realty | NYSE
REIT - Office | NYSE, USA | Market Cap: 4.189m USD | 12M Return: -3.1% | US78440X8873 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 44.2M
Qual. Beats: 0
Rev. Trend: 3.6%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
SL Green Realty Corp. is Manhattans largest office landlord, operating as a fully integrated real estate investment trust (REIT) that primarily acquires, manages, and maximizes the value of Manhattan commercial properties. As of March 31, 2026, the company held interests in 55 buildings totaling 30.8 million square feet-including ownership interests in 29.4 million square feet and 1.4 million square feet securing debt and preferred equity investments (excluding fund investments)-while also managing 3 third-party-owned buildings totaling 0.8 million square feet. The company was incorporated in 1980 in Maryland and is headquartered in New York.
As a REIT, SL Green benefits from a tax structure that generally requires the distribution of at least 90% of taxable income to shareholders in the form of dividends, in exchange for pass-through taxation at the investor level. The companys focus on Manhattan office properties exposes it to one of the most supply-constrained and high-barrier-to-entry commercial real estate markets in the United States, where Class A office space typically commands premium rents relative to other U.S. metropolitan areas.
- Manhattan office leasing volumes recover amid return-to-office push
- Debt refinancing costs pressure FFO amid elevated rate environment
- Asset dispositions accelerate to fund debt paydown and shareholder returns
| Net Income: -172.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.00 > 0.02 and ΔFCF/TA -1.29 > 1.0 |
| NWC/Revenue: 37.01% < 20% (prev 223.4%; Δ -186.4% < -1%) |
| CFO/TA 0.01 > 3% & CFO 92.2m > Net Income -172.8m |
| Net Debt (5.92b) to EBITDA (492.4m): 12.02 < 3 |
| Current Ratio: 1.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (76.9m) vs 12m ago 0.78% < -2% |
| Gross Margin: 51.12% > 18% (prev 31.75%; Δ 19.38% > 0.5%) |
| Asset Turnover: 9.01% > 50% (prev 5.69%; Δ 3.31% > 0%) |
| Interest Coverage Ratio: 0.96 > 6 (EBIT TTM 224.3m / Interest Expense TTM 233.0m) |
| A: 0.03 (Total Current Assets 953.7m - Total Current Liabilities 569.3m) / Total Assets 11.8b |
| B: -0.09 (Retained Earnings -1.02b / Total Assets 11.8b) |
| C: 0.02 (EBIT TTM 224.3m / Avg Total Assets 11.5b) |
| D: 0.46 (Book Value of Equity 3.42b / Total Liabilities 7.39b) |
| Altman-Z'' = 0.55 = B |
| DSRI: 0.12 (Receivables 336.1m/1.75b, Revenue 1.04b/640.5m) |
| GMI: 0.62 (GM 31.75% / 51.12%) |
| AQI: 0.57 (AQ_t 0.42 / AQ_t-1 0.73) |
| SGI: 1.62 (Revenue 1.04b / 640.5m) |
| TATA: -0.02 (NI -172.8m - CFO 92.2m) / TA 11.8b) |
| Beneish M = -3.90 (Cap -4..+1) = AAA |
As of September 05, 2026, the stock is trading at USD 55.56 with a total of 517,960 shares traded. Over the past week, the price has changed by -3.44%, over one month by -0.45%, over three months by +19.30% and over the past year by -3.05%.
Current recommended Stop Loss: 51.10 (which is 8% or 2.6 ATR below the current price).
SL Green Realty has received a consensus analysts rating of 3.67. Therefore, it is recommended to hold SLG.
- StrongBuy: 6
- Buy: 2
- Hold: 9
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 57.2 | 3% |
P/E Forward = 67.1141
P/S = 4.197
P/B = 1.2411
P/EG = 1.3002
Revenue TTM = 1.04b USD
EBIT TTM = 224.3m USD
EBITDA TTM = 492.4m USD
Long Term Debt = 3.47b USD (from longTermDebt, last quarter)
Short Term Debt = 953.7m USD (from shortTermDebt, last quarter)
Debt = 6.12b USD (from shortLongTermDebtTotal, last quarter) + Leases 953.7m
Net Debt = 5.92b USD (calculated: Debt 6.12b - CCE 202.1m)
Enterprise Value = 10.1b USD (4.19b + Debt 6.12b - CCE 202.1m)
Interest Coverage Ratio = 0.96 (Ebit TTM 224.3m / Interest Expense TTM 233.0m)
EV/FCF = -274.2x (Enterprise Value 10.1b / FCF TTM -36.9m)
FCF Yield = -0.36% (FCF TTM -36.9m / Enterprise Value 10.1b)
FCF Margin = -3.55% (FCF TTM -36.9m / Revenue TTM 1.04b)
Net Margin = -16.65% (Net Income TTM -172.8m / Revenue TTM 1.04b)
Gross Margin = 51.12% ((Revenue TTM 1.04b - Cost of Revenue TTM 507.5m) / Revenue TTM)
Gross Margin QoQ = 83.93% (prev 1.29%)
Tobins Q-Ratio = 0.86 (Enterprise Value 10.1b / Total Assets 11.8b)
Interest Expense / Debt = 3.81% (Interest Expense 233.0m / Debt 6.12b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 177.2m (EBIT 224.3m * (1 - 21.00%))
Current Ratio = 1.68 (Total Current Assets 953.7m / Total Current Liabilities 569.3m)
Debt / Equity = 1.79 (Debt 6.12b / totalStockholderEquity, last quarter 3.42b)
Debt / EBITDA = 12.02 (Net Debt 5.92b / EBITDA 492.4m)
Debt / FCF = -160.6 (out of range, set to none) (Net Debt 5.92b / FCF TTM -36.9m)
Total Stockholder Equity = 3.75b (last 4 quarters mean from totalStockholderEquity)
RoA = -1.50% (Net Income -172.8m / Total Assets 11.8b)
RoE = -4.61% (Net Income TTM -172.8m / Total Stockholder Equity 3.75b)
RoCE = 3.11% (EBIT 224.3m / Capital Employed (Equity 3.75b + L.T.Debt 3.47b))
RoIC = 1.46% (NOPAT 177.2m / Invested Capital 12.1b)
WACC = 5.10% (E(4.19b)/V(10.3b) * Re(8.16%) + D(6.12b)/V(10.3b) * Rd(3.81%) * (1-Tc(0.21)))
Discount Rate = 8.16% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 72.68 | Cagr: 4.19%
[DCF] Fair Price = unknown (Cash Flow -36.9m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.49 | # QB: 0
Revenue Correlation: 3.64 | Revenue CAGR: 0.72% | SUE: 0.86 | # QB: 1
EPS current Quarter (2026-09-30): EPS=-3.82 | Chg30d=+0.00% | Revisions=+0% | Analysts=1
EPS current Year (2026-12-31): EPS=-1.75 | Chg30d=+72.25% | Revisions=+25% | GrowthEPS=+21.1% | GrowthRev=+4.4%
EPS next Year (2027-12-31): EPS=-1.28 | Chg30d=+26.99% | Revisions=+25% | GrowthEPS=+27.0% | GrowthRev=-8.8%
[Analyst] Revisions Ratio: +40% (up=2, down=0)