Latest Ratios: P/E Ratio 546.6x · EV/EBITDA 15.9x · ROE 4.3%. (2005–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $128M | $158M | $128M | $82M | $73M | $122M | $129M | $374M | $289M | $256M | $219M |
| Enterprise Value | $1.6B | $1.7B | $1.5B | $1.7B | $1.9B | $1.9B | $1.4B | $2.2B | $1.8B | $1.2B | $1.3B |
| P/E Ratio → | 546.58 | 662.73 | 14.04 | 27.49 | — | 6.74 | — | 14.58 | 41.89 | 45.72 | — |
| P/S Ratio | 0.77 | 0.95 | 1.53 | 0.90 | 1.16 | 1.14 | — | 6.62 | 7.90 | 5.56 | 3.49 |
| P/B Ratio | 0.24 | 0.29 | 0.28 | 0.18 | 0.16 | 0.27 | 0.39 | 0.67 | 0.14 | 0.15 | 0.31 |
| P/FCF | 32.57 | 40.18 | 6.61 | 1.81 | 2.28 | 3.00 | 4.05 | 8.63 | 6.00 | 0.87 | 5.24 |
| P/OCF | 31.26 | 38.56 | 6.60 | 1.81 | 2.23 | 3.00 | 4.05 | 8.63 | 6.00 | 1.16 | 5.24 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.02 | 17.69 | 18.87 | 30.49 | 17.89 | — | 38.45 | 48.09 | 26.93 | 20.65 |
| EV / EBITDA | 15.94 | 16.23 | 126.71 | 82.81 | 21.68 | 18.68 | — | — | 50.08 | 11.99 | — |
| EV / EBIT | 15.95 | 14.61 | 11.71 | 11.47 | 21.70 | 18.70 | — | — | 18.90 | — | 78.65 |
| EV / FCF | — | 422.43 | 76.22 | 37.70 | 60.00 | 46.98 | 44.25 | 50.11 | 36.52 | 4.20 | 30.98 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 96.0% | 96.0% | 43.8% | 57.3% | 46.2% | 94.2% | 107.5% | 100.0% | 69.1% | 71.2% | 173.0% |
| Operating Margin | 61.7% | 61.7% | 13.9% | 22.7% | 140.5% | 95.7% | 177.2% | — | 88.1% | 22.3% | -22.9% |
| Net Profit Margin | 12.8% | 12.8% | 35.1% | 24.6% | 16.9% | 31.9% | 244.5% | 63.7% | 74.9% | 73.0% | -48.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.3% | 4.3% | 6.5% | 5.0% | 2.4% | 8.7% | -44.4% | 2.8% | 1.5% | 2.8% | -4.0% |
| ROA | 1.1% | 1.1% | 1.4% | 1.0% | 0.5% | 1.7% | -9.6% | 1.6% | 1.4% | 1.7% | -1.3% |
| ROIC | 4.0% | 4.0% | 0.4% | 0.7% | 2.9% | 4.0% | -5.4% | — | 0.8% | 0.3% | -0.5% |
| ROCE | 5.1% | 5.1% | 0.6% | 0.9% | 3.8% | 5.2% | -7.8% | — | 2.0% | 0.5% | -0.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.89 | 2.89 | 3.13 | 3.86 | 4.33 | 4.06 | 3.91 | 3.37 | 0.77 | 0.69 | 1.69 |
| Debt / EBITDA | 15.53 | 15.53 | 120.59 | 82.86 | 21.60 | 17.84 | — | — | 44.21 | 11.27 | — |
| Net Debt / Equity | — | 2.73 | 3.00 | 3.67 | 4.18 | 3.98 | 3.82 | 3.23 | 0.73 | 0.58 | 1.53 |
| Net Debt / EBITDA | 14.69 | 14.69 | 115.73 | 78.84 | 20.86 | 17.49 | — | — | 41.86 | 9.51 | — |
| Debt / FCF | — | 382.25 | 69.61 | 35.89 | 57.72 | 43.98 | 40.20 | 41.47 | 30.52 | 3.33 | 25.74 |
| Interest Coverage | 1.32 | 1.32 | 1.09 | 1.15 | 1.07 | 1.65 | -2.47 | -0.04 | 1.38 | -0.05 | 0.31 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | — | — | 90.37 | 122.15 | 135.46 | 4.59 | 0.63 | 77.64 | 59.53 |
| Quick Ratio | — | — | — | — | 90.37 | 122.15 | 135.46 | 4.59 | 0.63 | 77.79 | 60.67 |
| Cash Ratio | — | — | — | — | 2.69 | 1.96 | 2.47 | 0.19 | 0.58 | 76.31 | 53.79 |
| Asset Turnover | — | 0.08 | 0.04 | 0.04 | 0.03 | 0.05 | -0.05 | 0.02 | 0.02 | 0.02 | 0.03 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 16.3% | 13.4% | 15.7% | 23.6% | 26.7% | 11.8% | 6.8% | 7.2% | 3.8% | 2.4% | 23.9% |
| Payout Ratio | — | — | — | — | — | — | — | 75.2% | 40.4% | 18.6% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.2% | 0.2% | 7.1% | 3.6% | — | 14.8% | — | 6.9% | 2.4% | 2.2% | — |
| FCF Yield | 3.1% | 2.5% | 15.1% | 55.3% | 43.9% | 33.3% | 24.7% | 11.6% | 16.7% | 115.4% | 19.1% |
| Buyback Yield | 17.4% | 14.1% | 6.2% | 9.0% | 12.5% | 15.1% | 4.2% | 0.0% | 57.2% | 0.1% | 5.8% |
| Total Shareholder Yield | 33.7% | 27.5% | 21.8% | 32.6% | 39.2% | 26.9% | 11.0% | 7.2% | 61.0% | 2.5% | 29.7% |
| Shares Outstanding | — | $7M | $8M | $9M | $9M | $10M | $11M | $11M | $10M | $10M | $10M |
Credit quality and volatility
According to recent market data, ACR trades at a P/B ratio of 0.24, which, as noted in financial filings, suggests that investors are pricing the company at a significant discount to book value due to persistent concerns regarding the quality of its legacy loan portfolio.
The extreme P/FFO multiples observed in recent quarters appear to be distorted by the volatility in core earnings, rendering standard valuation metrics less reliable for assessing the company's intrinsic value. Investors should monitor whether the current discount to book value represents a genuine value opportunity or a rational market response to the potential for further credit-related impairments.
Based on reported financial statements, NOI margins have experienced significant compression, falling from 96.8% in 2024Q2 to 48.2% by 2025Q4, which indicates that rising credit provisions and operational costs are increasingly eroding the profitability of the company's core transitional lending activities.
The erratic nature of these margins suggests that ACR's profitability is highly sensitive to the performance of its underlying collateral, particularly within the office sector. This instability makes it difficult to determine whether FFO growth is being driven by sustainable organic interest income or by temporary accounting adjustments that may not persist in future periods.
As reported in quarterly filings, the FFO payout ratio reached 147.0% in 2025Q4, a level that, based on historical data, suggests the current dividend distribution is not supported by recurring cash flow and may be unsustainable without further capital preservation or improved portfolio performance.
The wide fluctuations in the payout ratio, ranging from 31.3% to 147.0% over the last ten quarters, highlight the precarious nature of the company's dividend policy. Investors should be cautious, as the reliance on non-recurring items to fund distributions may indicate a structural mismatch between cash generation and shareholder return expectations.
According to recent balance sheet disclosures, ACR maintains a debt-to-equity ratio of 3.44 as of 2026Q1, which, when viewed alongside the company's interest coverage ratio of 0.30, suggests a vulnerable balance sheet that lacks the necessary cushion to absorb significant credit shocks or market volatility.
The high leverage profile appears to limit the company's ability to navigate periods of rising interest rates or economic downturns, as the cost of servicing existing debt consumes a substantial portion of available cash flow. This leverage structure warrants further investigation into the maturity profile of the company's financing facilities to assess potential refinancing risks.
As indicated by the company's TTM P/E of 562.42, the standard price-to-earnings ratio is fundamentally misapplied to ACR, as it fails to account for the significant non-cash charges and CECL provisions that distort net income in the mREIT sector.
Using P/E to evaluate a mortgage REIT obscures the true cash-generating capacity of the loan portfolio by including accounting noise that does not reflect actual liquidity. Analysts should instead prioritize FFO or AFFO metrics, which provide a more accurate representation of the company's ability to generate distributable cash flow after accounting for necessary operational adjustments.
Includes 30+ ratios · 21 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying ACR stock.
ACRES Commercial Realty Corp.'s current P/E ratio is 546.6x. The historical average is 15.4x. This places it at the 100th percentile of its historical range.
ACRES Commercial Realty Corp.'s current EV/EBITDA is 15.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 42.2x.
ACRES Commercial Realty Corp.'s return on equity (ROE) is 4.3%. The historical average is 2.2%.
Based on historical data, ACRES Commercial Realty Corp. is trading at a P/E of 546.6x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
ACRES Commercial Realty Corp.'s current dividend yield is 16.27%.
ACRES Commercial Realty Corp. has 96.0% gross margin and 61.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
ACRES Commercial Realty Corp.'s Debt/EBITDA ratio is 15.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.