SLG Stock Analysis: SL Green Realty | NYSE
REIT - Office | NYSE, USA | Market Cap: 3.722m USD | 12M Return: -11.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 53.3M
Qual. Beats: 0
Rev. Trend: -26.8%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 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: -151.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -0.50 > 1.0 |
| NWC/Revenue: -44.83% < 20% (prev 225.7%; Δ -270.5% < -1%) |
| CFO/TA 0.02 > 3% & CFO 272.0m > Net Income -151.5m |
| Net Debt (7.16b) to EBITDA (350.3m): 20.43 < 3 |
| Current Ratio: 0.61 > 1.5 & < 3 |
| Outstanding Shares: last quarter (72.3m) vs 12m ago -5.32% < -2% |
| Gross Margin: 45.79% > 18% (prev 27.28%; Δ 18.51% > 0.5%) |
| Asset Turnover: 8.58% > 50% (prev 5.68%; Δ 2.89% > 0%) |
| Interest Coverage Ratio: 0.36 > 6 (EBIT TTM 87.9m / Interest Expense TTM 247.1m) |
| A: -0.04 (Total Current Assets 683.3m - Total Current Liabilities 1.13b) / Total Assets 11.8b |
| B: -0.08 (Retained Earnings -892.9m / Total Assets 11.8b) |
| C: 0.01 (EBIT TTM 87.9m / Avg Total Assets 11.6b) |
| D: 0.51 (Book Value of Equity 3.74b / Total Liabilities 7.40b) |
| Altman-Z'' = 0.09 = B |
| DSRI: 0.12 (Receivables 344.6m/1.93b, Revenue 993.5m/648.6m) |
| GMI: 0.60 (GM 27.28% / 45.79%) |
| AQI: 1.19 (AQ_t 0.86 / AQ_t-1 0.72) |
| SGI: 1.53 (Revenue 993.5m / 648.6m) |
| TATA: -0.04 (NI -151.5m - CFO 272.0m) / TA 11.8b) |
| Beneish M = -3.63 (Cap -4..+1) = AAA |
As of July 18, 2026, the stock is trading at USD 51.54 with a total of 710,805 shares traded. Over the past week, the price has changed by +5.88%, over one month by +6.64%, over three months by +20.49% and over the past year by -11.35%.
Current recommended Stop Loss: 49.10 (which is 4.7% or 1.4 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 | 49.4 | -4.2% |
P/E Forward = 67.1141
P/S = 3.9702
P/B = 1.038
P/EG = 1.3002
Revenue TTM = 993.5m USD
EBIT TTM = 87.9m USD
EBITDA TTM = 350.3m USD
Long Term Debt = 3.73b USD (from longTermDebt, last quarter)
Short Term Debt = 959.7m USD (from shortTermDebt, last quarter)
Debt = 7.49b USD (from shortLongTermDebtTotal, last quarter) + Leases 959.7m
Net Debt = 7.16b USD (calculated: Debt 7.49b - CCE 338.6m)
Enterprise Value = 10.9b USD (3.72b + Debt 7.49b - CCE 338.6m)
Interest Coverage Ratio = 0.36 (Ebit TTM 87.9m / Interest Expense TTM 247.1m)
EV/FCF = 102.1x (Enterprise Value 10.9b / FCF TTM 106.5m)
FCF Yield = 0.98% (FCF TTM 106.5m / Enterprise Value 10.9b)
FCF Margin = 10.72% (FCF TTM 106.5m / Revenue TTM 993.5m)
Net Margin = -15.25% (Net Income TTM -151.5m / Revenue TTM 993.5m)
Gross Margin = 45.79% ((Revenue TTM 993.5m - Cost of Revenue TTM 538.6m) / Revenue TTM)
Gross Margin QoQ = 1.29% (prev 35.75%)
Tobins Q-Ratio = 0.93 (Enterprise Value 10.9b / Total Assets 11.8b)
Interest Expense / Debt = 3.30% (Interest Expense 247.1m / Debt 7.49b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 69.4m (EBIT 87.9m * (1 - 21.00%))
Current Ratio = 0.61 (Total Current Assets 683.3m / Total Current Liabilities 1.13b)
Debt / Equity = 2.00 (Debt 7.49b / totalStockholderEquity, last quarter 3.74b)
Debt / EBITDA = 20.43 (Net Debt 7.16b / EBITDA 350.3m)
Debt / FCF = 67.17 (Net Debt 7.16b / FCF TTM 106.5m)
Total Stockholder Equity = 3.89b (last 4 quarters mean from totalStockholderEquity)
RoA = -1.31% (Net Income -151.5m / Total Assets 11.8b)
RoE = -3.89% (Net Income TTM -151.5m / Total Stockholder Equity 3.89b)
RoCE = 1.15% (EBIT 87.9m / Capital Employed (Equity 3.89b + L.T.Debt 3.73b))
RoIC = 0.60% (NOPAT 69.4m / Invested Capital 11.5b)
WACC = 4.64% (E(3.72b)/V(11.2b) * Re(8.75%) + D(7.49b)/V(11.2b) * Rd(3.30%) * (1-Tc(0.21)))
Discount Rate = 8.75% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 74.32 | Cagr: 1.88%
[DCF] Terminal Value 73.10% ; FCFF base≈128.3m ; Y1≈112.5m ; Y5≈90.9m
[DCF] Fair Price = N/A (negative equity: EV 1.46b - Net Debt 7.16b = -5.70b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.47 | # QB: 0
Revenue Correlation: -26.82 | Revenue CAGR: -4.93% | SUE: 0.73 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-1.96 | Chg30d=+0.00% | Revisions=-25% | Analysts=1
EPS next Quarter (2026-09-30): EPS=-3.82 | Chg30d=+0.00% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=-6.30 | Chg30d=+0.24% | Revisions=+0% | GrowthEPS=-184.4% | GrowthRev=+7.0%
EPS next Year (2027-12-31): EPS=-1.75 | Chg30d=+3.85% | Revisions=-25% | GrowthEPS=+72.2% | GrowthRev=-9.3%
[Analyst] Revisions Ratio: -50% (up=0, down=3)