Latest Ratios: P/E Ratio 49.2x · EV/EBITDA 21.9x · ROE 19.7%. (1996–2025 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 | $1.4B | $1.1B | $1.0B | $1.1B | $1.1B | $1.3B | $1.4B | $1.7B | $1.6B | $2.0B | $2.2B |
| Enterprise Value | $2.2B | $1.9B | $1.8B | $1.7B | $2.0B | $2.0B | $2.1B | $2.4B | $2.4B | $3.0B | $2.9B |
| P/E Ratio → | 49.16 | 39.63 | 23.65 | 10.69 | 19.58 | 10.03 | 33.86 | 79.79 | 47.47 | 25.15 | 25.24 |
| P/S Ratio | 6.48 | 5.25 | 4.54 | 4.87 | 5.48 | 6.47 | 7.13 | 7.47 | 6.70 | 8.78 | 9.62 |
| P/B Ratio | 12.72 | 10.25 | 5.81 | 4.61 | 4.77 | 5.28 | 6.99 | 6.67 | 1.62 | 1.70 | 2.12 |
| P/FCF | 18.80 | 15.24 | 18.98 | 10.04 | 11.00 | 11.26 | 18.19 | 13.41 | 22.41 | 16.88 | 18.93 |
| P/OCF | 18.80 | 15.24 | 18.98 | 10.04 | 11.00 | 11.26 | 18.19 | 13.41 | 21.20 | 16.41 | 16.69 |
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 | — | 9.07 | 7.91 | 7.36 | 9.83 | 9.51 | 10.79 | 10.44 | 10.47 | 12.83 | 12.98 |
| EV / EBITDA | 21.90 | 19.29 | 14.96 | 11.02 | 18.25 | 17.69 | 16.40 | 17.38 | 18.23 | 20.55 | 21.16 |
| EV / EBIT | 33.68 | 24.22 | 16.86 | 19.60 | 23.47 | 13.04 | 29.80 | 23.88 | 24.10 | 26.41 | 27.09 |
| EV / FCF | — | 26.33 | 33.11 | 15.18 | 19.74 | 16.54 | 27.51 | 18.75 | 35.04 | 24.65 | 25.55 |
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 | 16.1% | 16.1% | 100.0% | 55.0% | 100.0% | 100.0% | 55.6% | 60.4% | 59.7% | 63.1% | 63.8% |
| Operating Margin | 30.6% | 30.6% | 36.1% | 52.2% | 38.6% | 37.0% | 52.4% | 44.0% | 43.2% | 45.7% | 46.5% |
| Net Profit Margin | 13.2% | 13.2% | 19.2% | 45.5% | 28.0% | 64.5% | 21.1% | 9.4% | 14.1% | 34.9% | 38.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.7% | 19.7% | 21.0% | 43.2% | 23.6% | 58.3% | 18.4% | 3.5% | 3.1% | 7.2% | 12.5% |
| ROA | 2.3% | 2.3% | 3.2% | 7.3% | 4.1% | 9.5% | 3.1% | 1.5% | 2.1% | 5.2% | 6.0% |
| ROIC | 5.2% | 5.2% | 7.1% | 9.1% | 5.9% | 6.3% | 8.4% | 5.4% | 3.8% | 4.0% | 5.4% |
| ROCE | 5.5% | 5.5% | 6.2% | 8.7% | 5.9% | 5.6% | 8.0% | 7.4% | 6.6% | 7.0% | 7.5% |
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 | 8.64 | 8.64 | 6.24 | 4.60 | 4.61 | 4.31 | 5.69 | 3.83 | 1.21 | 1.04 | 1.02 |
| Debt / EBITDA | 9.41 | 9.41 | 9.21 | 7.27 | 9.84 | 9.84 | 8.83 | 7.14 | 8.69 | 8.62 | 7.56 |
| Net Debt / Equity | — | 7.47 | 4.32 | 2.36 | 3.79 | 2.48 | 3.58 | 2.65 | 0.91 | 0.78 | 0.74 |
| Net Debt / EBITDA | 8.13 | 8.13 | 6.39 | 3.73 | 8.08 | 5.65 | 5.56 | 4.95 | 6.57 | 6.48 | 5.48 |
| Debt / FCF | — | 11.10 | 14.13 | 5.14 | 8.74 | 5.28 | 9.32 | 5.34 | 12.63 | 7.77 | 6.62 |
| Interest Coverage | 1.55 | 1.55 | 1.69 | 1.45 | 3.01 | 7.63 | 2.98 | 2.54 | 2.27 | 3.56 | 4.89 |
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 | 8.33 | 8.33 | 12.80 | 13.04 | 12.38 | 13.73 | 16.53 | 15.09 | 21.56 | 17.75 | 13.80 |
| Quick Ratio | 8.33 | 8.33 | 12.80 | 13.04 | 12.38 | 13.73 | 16.53 | 15.09 | 21.56 | 17.75 | 13.80 |
| Cash Ratio | 3.49 | 3.49 | 8.48 | 10.14 | 9.32 | 10.17 | 11.79 | 9.42 | 9.69 | 7.56 | 7.58 |
| Asset Turnover | — | 0.19 | 0.17 | 0.16 | 0.15 | 0.15 | 0.14 | 0.18 | 0.16 | 0.14 | 0.16 |
| 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 | 6.7% | 8.3% | 9.0% | 8.4% | 8.2% | 6.9% | 6.5% | 5.4% | 5.9% | 4.3% | 3.7% |
| Payout Ratio | 327.5% | 327.5% | 212.6% | 90.1% | 160.1% | 69.4% | 219.8% | 435.1% | 280.4% | 108.0% | 94.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.0% | 2.5% | 4.2% | 9.4% | 5.1% | 10.0% | 3.0% | 1.3% | 2.1% | 4.0% | 4.0% |
| FCF Yield | 5.3% | 6.6% | 5.3% | 10.0% | 9.1% | 8.9% | 5.5% | 7.5% | 4.5% | 5.9% | 5.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.7% | 8.3% | 9.0% | 8.4% | 8.2% | 6.9% | 6.5% | 5.4% | 5.9% | 4.3% | 3.7% |
| Shares Outstanding | — | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M |
NYC asset concentration risk
Based on reported financial data, the absence of stable P/FFO and P/AFFO metrics, combined with a P/E of 49.97, suggests that the market is struggling to price the company's static asset base, which warrants further investigation into whether investors are valuing the firm as a liquidating entity.
The elevated P/E ratio appears disconnected from the underlying operational reality of a REIT, likely reflecting the distortion caused by heavy depreciation on NYC assets. Investors should monitor the implied cap rate, as the current valuation may be failing to account for the potential obsolescence of older retail assets within the portfolio.
According to recent quarterly filings, NOI margins have collapsed from 100% in early 2024 to 45.7% in 2026Q1, indicating that property-level operating expenses are consuming a significantly larger portion of rental income than in previous periods, which may suggest rising maintenance or tax burdens on core assets.
The sharp decline in NOI margins suggests that the company's high-fixed-cost structure is becoming increasingly difficult to manage amidst revenue contraction. This trend appears to indicate that the firm's reliance on a few key tenants is leaving it vulnerable to rising operational costs that cannot be easily passed through to lessees.
As reported in financial statements, the FFO payout ratio has consistently exceeded 100% in recent periods, reaching 172.0% in 2026Q1, which implies that the current dividend distribution level is likely unsustainable without relying on cash reserves or external financing to bridge the significant shortfall in recurring cash flow.
The persistent payout ratio above 1.0x suggests that the dividend is currently being funded by capital rather than operational earnings. Investors should monitor whether management intends to maintain this distribution level, as the lack of retained cash flow may limit the company's ability to fund necessary capital improvements.
Based on the company's reported figures, the debt-to-equity ratio has climbed from 4.60 in 2023Q4 to 9.17 in 2026Q1, indicating that the firm is becoming increasingly reliant on debt financing as its equity base shrinks under the weight of persistent operational headwinds and potential accounting adjustments.
The rapid increase in leverage appears to signal a deteriorating balance sheet, particularly as the interest coverage ratio has simultaneously weakened to 1.30. This combination of rising debt and declining coverage suggests that the company may face significant refinancing risks if market conditions for NYC commercial real estate tighten further.
As evidenced by the company's reliance on high-depreciation NYC real estate, the standard P/E ratio is a deeply misleading metric that obscures the firm's true cash-generating capacity, necessitating the use of FFO or AFFO to properly assess the sustainability of distributions and the underlying value of the assets.
The market's focus on P/E ignores the non-cash depreciation charges that artificially depress GAAP earnings, leading to an overestimation of the company's valuation relative to its actual cash flow. Analysts should prioritize FFO and AFFO metrics to strip away these accounting distortions and gain a clearer view of the REIT's operational performance.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying ALX stock.
Alexander's, Inc.'s current P/E ratio is 49.2x. The historical average is 29.2x. This places it at the 85th percentile of its historical range.
Alexander's, Inc.'s current EV/EBITDA is 21.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.7x.
Alexander's, Inc.'s return on equity (ROE) is 19.7%. The historical average is 42.9%.
Based on historical data, Alexander's, Inc. is trading at a P/E of 49.2x. This is at the 85th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Alexander's, Inc.'s current dividend yield is 6.66% with a payout ratio of 327.5%.
Alexander's, Inc. has 16.1% gross margin and 30.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Alexander's, Inc.'s Debt/EBITDA ratio is 9.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.