SL Green Realty Corp (SLG) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of SL Green Realty Corp stock $19.23, price $50.78, that is 62.1% below the price, quality 39 out of 100. Rating: strongly overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range $15.81 – $73.51 · fair‑value band $19.23 – $55.73 · the $50.78 price screens above the $19.23 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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SL Green Realty Corp., Manhattan's largest office landlord, is a fully integrated real estate investment trust, or REIT. It focuses primarily on acquiring, managing and maximizing the value of Manhattan commercial properties.
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As of March 31, 2026, SL Green held interests in 55 buildings totaling 30.8 million square feet which included ownership interests in 29.4 million square feet and 1.4 million square feet securing debt and preferred equity investments, excluding fund investments, and managed 3 buildings totaling 0.8 million square feet owned by third parties.
SL Green Realty Corp. was incorporated in 1980 in Maryland and is based in New York.
Stock analysis
SL Green Realty Corp (SLG) currently trades at $50.78, while our model-based Fair Value estimate is $19.23, 62% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of $35.27 per share, and 0 of the 3 models we run sit above the $50.78 price.
Bear case: the DCF Models group reads lowest at $11.68, and 3 of the 3 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $19.23 (bear) to $55.73 (bull), the price of $50.78 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 39/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
SL Green Realty Corp reported revenue of $1.0B in FY2025 versus $806M in FY2021, a compound +5.6%/yr. Reported net income was −$88.3M in FY2025.
Key figures
Market cap $3.9B Mid · P/S ratio 3.54 · EPS (TTM) $−2.03 · Dividend yield 6.2% · Net margin −8.8% · Return on equity 0.9% · Return on assets (EBIT) 2.3% (5-year average) · Operating margin 20.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 28 out of 100 (medium confidence).
What moves the price
The share trades about 14% below its 52-week high and 50% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −1% fair-value upside, at −62%, SLG screens richer than that median.
Fair Value models
Bear$19.23Fair Value $19.23Bull$55.73
Price $50.78 · Downside -62.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director sold shares worth $2.3M and none bought.
SaleHarrison SitomerPRESIDENT & CIO40,000 shares at $58.05$2.3MAug 21, 2026
SaleCarol N BrownDirector5,004 shares at $36.33$181,795Mar 30, 2026
SaleMarc HollidayPRESIDENT & CEO, Director22,223 shares at $44.40$986,701Dec 23, 2025
SaleAndrew S LevineCHIEF LEGAL OFFICER & GC1,493 shares at $45.27$67,588Dec 22, 2025
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+42.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.5%
Start year 2020 (pandemic). Over 10 years: −5.0% a year
Revenue growth 28 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.0%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
49.8% (2020) → 15.4% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+48.8%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−11.8%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +45.3% a year for the price and −13.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: SL Green's Manhattan offices deliver high occupancy that supports leasing stability, yet the REIT suffers from negative profitability and elevated leverage that constrain its core operations.
Main risk: Higher interest rates continue to weigh on earnings and push asset sales into later periods, directly hitting cash flow in a highly leveraged office portfolio.
SL Green raised its full-year FFO guidance after monetizing a 20 percent stake in its food and beverage hospitality operations. Higher interest rates still drag on earnings and push some planned asset sales into next year, even as Manhattan office occupancy holds at 95 percent. Does the lift from this non-core transaction strengthen the core office business more than the rate environment weakens it?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.REIT - Office · 63 stocks
Beats the industry median on 4/14 measures
Overall it trails its industry peers.
Valuation
Quality Score39 · Bottom 25%
Fair Value upside−62.1% · Bottom 25%
Profitability
Return on equity (12 months)0.9% · Below median
Return on assets−0.8% · Bottom 25%
Net margin (12 months)2.2% · Below median
Operating margin (12 months)20.5% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)27.3% · Top 25%
Dividend yield (12 months)6.2% · Above median
Balance sheet
Debt / equity1.31× · Highest 25%
Valuation Multiplesvs REIT - Office median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "SL Green Realty Corp Fair Value". https://www.fairvalue-calculator.com/stock/SLG
Frequently asked questions
Is SL Green Realty Corp (SLG) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $19.23 versus a price of $50.78, about 62% lower (overvalued).
What is the fair value of SLG?
Our model-based fair value for SL Green Realty Corp is $19.23 (as of Nov 8, 2026), built from audited fundamentals. The current price: $50.78.
What is the quality score of SLG?
SL Green Realty Corp has a Quality Score of 39/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for SL Green Realty Corp (SLG)?
Our model-based price target is the fair value of $19.23 (as of Nov 8, 2026) from 6 valuation models. Cautious scenario $19.23, optimistic scenario $55.73. It is a calculation from audited fundamentals, not an analyst target.
What is the SL Green Realty Corp stock forecast for 2026?
Our models put fair value at $19.23, about 62% lower versus a price of $50.78 (overvalued). Cautious scenario $19.23, optimistic scenario $55.73. The calculation is refreshed regularly with new filings.
What is the revenue of SL Green Realty Corp (SLG)?
SL Green Realty Corp reported trailing-twelve-month revenue of about $1.1B (latest available figure, as of Nov 8, 2026).
Does SL Green Realty Corp pay a dividend?
SL Green Realty Corp currently shows a dividend yield of 6.23% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of SL Green Realty Corp (SLG) and when is the ex-dividend date?
SL Green Realty Corp pays a dividend of $3.16 per share a year, a dividend yield of 6.2%. The last ex-dividend date was Sep 30, 2026. A dividend has been paid every year since at least 1997. Free cash flow covers the dividend 0.37 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into SL Green Realty Corp (SLG)?
For today's price to be fair in a discounted-cash-flow model, SL Green Realty Corp would have to grow free cash flow by +48.8 % per year for five years (discount rate 11.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -0.5 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of SLG use?
Our models discount SL Green Realty Corp at 11.3 %: a base by market capitalisation (mid), damped by beta 1.66, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For SL Green Realty Corp that is +48.8 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.3 %) and the same formula as our fair value.
How much growth has SL Green Realty Corp (SLG) delivered so far?
Over the past 5 years revenue at SL Green Realty Corp grew -0.5 % a year. The price currently implies free-cash-flow growth of +48.8 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of SL Green Realty Corp (SLG) growing?
The median revenue growth in the sector is +2.7 % a year. That is the yardstick for the growth priced into SL Green Realty Corp (+48.8 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of SL Green Realty Corp (SLG)?
The free-cash-flow yield on the price is 2.12 %: that much free cash flow SL Green Realty Corp produces per unit of market value. When it exceeds the discount rate of our models (11.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of SL Green Realty Corp (SLG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For SL Green Realty Corp it is $19.23 per share (as of Nov 8, 2026), against a price of $50.78. It is the blended result of 6 valuation models in 4 families (DCF Models, Multiples, Asset-Based, Growth DCF).
Is SL Green Realty Corp stock overvalued or undervalued in 2026?
As of Nov 8, 2026, SLG trades above its calculated fair value: price $50.78, fair value $19.23, a gap of about −62% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SLG?
No. The price is what the market pays today ($50.78); the fair value is what the company's own numbers justify ($19.23). For SL Green Realty Corp the two are $31.55 per share apart. That gap is exactly why we show both numbers side by side.
How much is SL Green Realty Corp worth?
The market values SL Green Realty Corp at about $3.9B (market capitalisation, as of Nov 8, 2026). Per share that is $50.78; our models calculate a fair value of $19.23 per share.
What do the bullish and bearish scenarios say about SLG?
Our models span a range for SL Green Realty Corp: cautious scenario $19.23, base $19.23, optimistic $55.73 per share (as of Nov 8, 2026, price $50.78). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of SLG?
The PEG ratio of SL Green Realty Corp is 1.30 (P/E divided by earnings growth, as of Nov 8, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of SL Green Realty Corp (SLG)?
Balance-sheet figures for SL Green Realty Corp (as of Nov 8, 2026): return on equity 0.9%, debt of 1.31 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is SLG from its 52-week high?
SL Green Realty Corp trades at $50.78, about 14% below its 52-week high of $59.08 and 50% above the low of $33.88 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $19.23 is for.
Which stocks are comparable to SL Green Realty Corp?
From the same area (Real Estate) we also value BXP, Inc, MERLIN Properties SOCIMI, S.A, Alexandria Real Estate Equities, Inc, Vornado Realty Trust, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is SL Green Realty Corp stock attractive at the current price?
The data as of Nov 8, 2026: price $50.78, calculated fair value $19.23 (−62%), Quality Score 39/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SLG calculated?
We run SL Green Realty Corp through 6 models from 4 families: DCF Models, Multiples, Asset-Based, Growth DCF. Every model gets the same audited fundamentals; the fair value of $19.23 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. SL Green Realty Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of SL Green Realty Corp (SLG)?
The closing price on Nov 6, 2026 was $50.78. Our model-based fair value is $19.23, about 62% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with SL Green Realty Corp right now?
Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide ($19.23 to $55.73). The outcome hinges heavily on assumptions, so read the point estimate with caution. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of SL Green Realty Corp
How large is the market capitalisation of SL Green Realty Corp (SLG)?
The market capitalisation of SL Green Realty Corp is $3.9B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of SL Green Realty Corp (SLG)?
The price-to-sales ratio of SL Green Realty Corp is 3.54 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of SL Green Realty Corp (SLG)?
Earnings per share at SL Green Realty Corp are $−2.03. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of SL Green Realty Corp (SLG)?
The dividend yield of SL Green Realty Corp is 6.2%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of SL Green Realty Corp (SLG)?
The net margin of SL Green Realty Corp is −8.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of SL Green Realty Corp (SLG)?
The return on equity (ROE) of SL Green Realty Corp is 0.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of SL Green Realty Corp (SLG)?
On an EBIT basis the return on assets of SL Green Realty Corp is 2.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of SL Green Realty Corp (SLG)?
The operating margin of SL Green Realty Corp is 20.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at SL Green Realty Corp (SLG)?
Revenue at SL Green Realty Corp is growing +27.3% versus a year earlier (3y avg +5.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at SL Green Realty Corp (SLG)?
Earnings per share at SL Green Realty Corp are growing +197% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does SL Green Realty Corp (SLG) carry?
The net debt of SL Green Realty Corp is $7.6B (fiscal year 2025, ≈ 92.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 8, 2026