Sl Green Realty Corp. (SLG) intrinsic value & 10-year financials
Sl Green Realty Corp. (SLG) has a Graham intrinsic value of $2.66 per share. At $47.00 on Oct 17, 2026, the stock trades 1667% above that value. Over the last 10 fiscal years revenue grew 19.8% a year to $1.0B, with an average return on invested capital of 4.5%.
- Graham intrinsic value
- $2.66
- Share price (Oct 17, 2026)
- $47.00
- Price vs Graham value
- 1667% above
- Market cap
- $3.3B
- Revenue (FY2025)
- $1.0B
- Revenue growth (10-yr CAGR)
- 19.8%
- ROIC (10-yr avg)
- 4.5%
- Free cash flow (FY2025)
- —
SLG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.0B | -$96.9M | -$1.61 | — | 65.0% | — |
| FY2024 | $886.3M | $22.0M | $0.08 | — | 82.4% | — |
| FY2023 | $913.7M | -$564.6M | -$9.12 | — | 65.5% | — |
| FY2022 | $826.7M | -$78.1M | -$1.49 | — | 73.2% | 9.0% |
| FY2021 | $844.0M | $449.8M | $6.50 | — | — | 7.2% |
| FY2020 | $1.1B | $371.1M | $4.87 | — | — | 5.3% |
| FY2019 | $1.2B | $270.4M | $3.19 | $123.5M | — | 3.6% |
| FY2018 | $113.6M | $247.3M | $2.75 | $187.1M | — | 3.0% |
| FY2017 | $172.9M | $101.4M | $0.87 | $212.4M | — | 1.0% |
| FY2016 | $196.9M | $249.9M | $2.34 | $222.8M | — | 2.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
SL GREEN REALTY CORP is a consistent compounder, expanding top-line revenue at 19.8% annually over the past decade.
SL GREEN REALTY CORP has historically struggled to out-earn its cost of capital, averaging just 4.5% ROIC.
Over the decade, SL GREEN REALTY CORP shows that management has aggressively returned capital to shareholders by retiring 32.8% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, SL GREEN REALTY CORP is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $2.66 per share.