Alexander & Baldwin (ALEX) AI Stock Analysis

• Market Cap: $1.50B
• Dividend Yield: 4.9%
• Average Volume (3M): 1.12M
• Price to Earnings (P/E): 20.5
• Beta (1Y): 0.28
• Revenue Growth: -3.94%
• EPS Growth: 64.29%
• Country: US
• Employees: 96
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Diversified
• EPS (TTM): 0.20
• Shares Outstanding: 72,638,410
• 10 Day Avg. Volume: 2,536,181
• 30 Day Avg. Volume: 1,120,577
• PEG Ratio: 0.21
• Price to Book (P/B): 1.28
• Price to Sales (P/S): 5.44
• P/FCF Ratio: 27.28
• Enterprise Value/Market Cap: 1.20
• Enterprise Value/Revenue: 8.25
• Enterprise Value/Gross Profit: 18.22
• Enterprise Value/Ebitda: 13.28
• 1Y Price Target: $20.95
• Price Target Upside: 1.50% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 3
• EPS Forecast (FY): 0.97
• Revenue Forecast (FY): $204.78M

• Rating: 74 Outperform
• Price Target: $23.50 ▲(13.86% Upside)

Alexander & Baldwin's strong financial performance and reasonable valuation are key strengths, supported by positive earnings call insights. However, technical indicators suggest caution due to bearish trends and overbought conditions. The upcoming merger and delisting present significant risks to market presence.

Positive Factors

Cash Flow Generation

Strong cash flow generation enhances financial flexibility, allowing for reinvestment in growth opportunities and debt reduction.

CRE Portfolio Performance

Positive CRE performance indicates robust demand and effective property management, supporting long-term revenue stability.

Amended Credit Facility

Improved credit terms and increased borrowing capacity strengthen financial resilience and support strategic growth initiatives.

Negative Factors

Merger Agreement Impact

The merger and delisting may reduce public market visibility and alter shareholder dynamics, affecting long-term strategic direction.

Revenue Volatility

Past revenue volatility suggests potential challenges in maintaining consistent growth, impacting long-term financial planning.

Tenant Move-Outs

Tenant turnover can disrupt income streams and increase vacancy rates, challenging the sustainability of revenue from real estate operations.

Alexander & Baldwin Business Overview & Revenue Model

Company Description

Alexander & Baldwin, Inc. (ALEX) is a diversified real estate and agriculture company based in Hawaii. It operates primarily in two segments: real estate and agriculture. The real estate segment focuses on the development and management of commercial and residential properties, while the agriculture segment primarily involves the cultivation and distribution of sugar and other agricultural products. A&B is known for its strategic land holdings and sustainable practices, making it a significant player in Hawaii's economy.

How the Company Makes Money

Alexander & Baldwin generates revenue through several key streams. The real estate segment earns income from leasing and sales of commercial properties, residential developments, and land sales. This includes retail spaces, office buildings, and residential communities that cater to both local and tourist populations. The agriculture segment contributes revenue through the production and sale of sugar, as well as diversified crops, leveraging its extensive land holdings. Additionally, A&B may engage in partnerships and joint ventures with other developers or agricultural firms, enhancing its market reach and operational capacity. Factors such as tourism trends, real estate market conditions, and agricultural commodity prices significantly impact the company’s earnings.

Alexander & Baldwin Financial Statement Overview

Summary

Alexander & Baldwin exhibits strong financial performance with impressive profitability, stable balance sheet metrics, and robust cash flow generation. The company has shown significant revenue and profit growth, although past revenue volatility should be monitored.

Income Statement

Alexander & Baldwin shows strong profitability with a TTM gross profit margin of 51.62% and a net profit margin of 33.94%. The company has demonstrated impressive revenue growth of 28.6% in the TTM period, indicating a robust upward trajectory. EBIT and EBITDA margins are also healthy at 38.06% and 54.42% respectively, reflecting efficient operational management. However, the company experienced a revenue decline in 2022, which could indicate potential volatility.

Balance Sheet

The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.46, indicating moderate leverage. The return on equity (ROE) has improved to 7.76% in the TTM period, showcasing enhanced profitability. The equity ratio stands at 61.68%, suggesting a solid equity base. Nonetheless, the company should monitor its debt levels to maintain financial flexibility.

Cash Flow

Cash flow analysis reveals a strong free cash flow growth rate of 462.7% in the TTM period, highlighting significant cash generation capabilities. The operating cash flow to net income ratio is robust at 6.06, indicating efficient cash conversion. The free cash flow to net income ratio of 58.12% further supports the company's ability to generate cash relative to its earnings. Continued focus on cash flow management will be crucial to sustain this performance.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	218.14M	236.64M	208.84M	230.55M	254.00M	190.30M
Gross Profit	98.75M	107.65M	102.31M	97.63M	119.10M	64.10M
EBITDA	135.44M	126.01M	100.60M	78.83M	141.20M	91.60M
Net Income	73.34M	60.54M	29.80M	-50.66M	35.40M	5.60M
Balance Sheet
Total Assets	1.66B	1.67B	1.65B	1.79B	1.88B	2.04B
Cash, Cash Equivalents and Short-Term Investments	17.29M	33.44M	13.52M	33.30M	65.40M	57.20M
Total Debt	490.49M	474.84M	465.06M	477.10M	537.30M	705.50M
Total Liabilities	645.66M	666.89M	643.23M	751.60M	813.20M	939.90M
Stockholders Equity	1.01B	1.00B	1.00B	1.04B	1.07B	1.10B
Cash Flow
Free Cash Flow	57.74M	47.21M	35.90M	12.30M	93.90M	42.50M
Operating Cash Flow	66.81M	97.99M	67.10M	34.00M	124.20M	63.10M
Investing Cash Flow	4.10M	-16.11M	7.10M	44.60M	96.50M	12.00M
Financing Cash Flow	-78.97M	-61.96M	-94.90M	-115.20M	-207.10M	-33.10M

Alexander & Baldwin Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 20.64
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALEX, the sentiment is Positive. The current price of 20.64 is above the 20-day moving average (MA) of 17.62, above the 50-day MA of 16.63, and above the 200-day MA of 17.09, indicating a bullish trend. The MACD of 1.36 indicates Negative momentum. The RSI at 84.75 is Negative, neither overbought nor oversold. The STOCH value of 66.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ALEX.

Alexander & Baldwin Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALEX	74 Outperform	$1.50B	20.51	7.32%	4.90%	-3.94%	64.29%
SAFE	66 Neutral	$983.06M	8.61	4.82%	5.13%	1.30%	-6.14%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
ESRT	65 Neutral	$1.12B	32.07	3.80%	2.13%	0.45%	-24.85%
GNL	62 Neutral	$1.83B	-6.88	-12.53%	10.13%	-28.94%	-28.24%
AHH	61 Neutral	$541.04M	49.93	4.09%	9.08%	-39.94%	―
AAT	59 Neutral	$1.15B	18.46	5.29%	7.25%	5.95%	5.06%

Alexander & Baldwin Corporate Events

Alexander & Baldwin Announces Merger Agreement with Tropic

On December 8, 2025, Alexander & Baldwin, Inc. entered into a Merger Agreement with Tropic Purchaser LLC and Tropic Merger Sub LLC, which will result in the company merging into Merger Sub and ceasing to exist as a separate entity. The merger, unanimously approved by the company’s board, will see each share of common stock converted into a cash amount of $21.20, subject to adjustments for a declared dividend. This transaction will lead to the delisting of the company’s shares from the NYSE, impacting its market presence and shareholder structure.

Alexander & Baldwin Amends Credit Facility for Growth

On November 3, 2025, Alexander & Baldwin, Inc. amended its unsecured revolving credit facility, maintaining a $450 million borrowing capacity and introducing a new $200 million term loan facility to enhance its capital structure and financial flexibility. The company utilized the full $200 million term loan to repay the outstanding balance on the revolving credit facility, thereby replenishing its revolving capacity, lowering its cost of capital, and extending the weighted average maturity of its borrowings. This strategic financial maneuver aligns with the company’s long-term growth initiatives, as highlighted by the interest rate swap agreements that lock in the term loan at a fixed rate, ultimately strengthening the company’s balance sheet and improving liquidity.

Alexander & Baldwin Reports Strong Q3 2025 Financial Results

On October 30, 2025, Alexander & Baldwin, Inc. reported its third-quarter 2025 financial results, highlighting a net income of $14.3 million and a commercial real estate operating profit of $22.7 million. The company saw a slight increase in same-store net operating income and maintained a high leased occupancy rate of 95.6%. Key developments included the advancement of industrial projects and a significant lease renewal in Kailua Town, which supports the company’s growth strategy and strengthens its market position in Hawai‘i.

Alexander & Baldwin EVP Retirement Announcement

On September 29, 2025, Meredith J. Ching, Executive Vice President of External Affairs at Alexander & Baldwin, Inc., announced her decision to retire by the end of the year, effective December 31, 2025. This retirement marks a significant change in the company’s leadership, potentially impacting its external affairs operations and stakeholder relations.