Latest Ratios: P/E Ratio 22.1x · EV/EBITDA 12.6x · ROE 5.5%. (2008–2025 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 | $3.9B | $2.8B | $3.7B | $3.8B | $3.6B | $3.7B | $2.9B | $3.6B | $3.3B | $4.4B | $3.8B |
| Enterprise Value | $5.6B | $4.6B | $5.3B | $5.3B | $5.1B | $5.2B | $4.6B | $5.2B | $4.7B | $5.6B | $5.1B |
| P/E Ratio → | 22.07 | 16.01 | 17.25 | 21.57 | 25.05 | 194.11 | — | 21.10 | 15.84 | 23.91 | 26.29 |
| P/S Ratio | 2.73 | 2.00 | 2.59 | 2.83 | 2.92 | 3.91 | 4.79 | 2.87 | 2.58 | 3.54 | 3.66 |
| P/B Ratio | 1.23 | 0.89 | 1.13 | 1.15 | 1.14 | 1.16 | 0.95 | 1.11 | 0.68 | 0.92 | 0.79 |
| P/FCF | 13.63 | 9.96 | 11.39 | 11.65 | 11.69 | 18.35 | — | 11.86 | 9.91 | 13.64 | 14.29 |
| P/OCF | 10.41 | 7.61 | 9.14 | 9.55 | 9.81 | 16.80 | 107.97 | 9.53 | 8.09 | 11.39 | 11.48 |
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 | — | 3.22 | 3.69 | 3.93 | 4.11 | 5.57 | 7.61 | 4.09 | 3.66 | 4.50 | 4.92 |
| EV / EBITDA | 12.62 | 10.28 | 10.92 | 12.26 | 13.10 | 19.16 | 46.89 | 12.12 | 10.54 | 14.26 | 15.36 |
| EV / EBIT | 22.32 | 17.13 | 18.02 | 21.34 | 24.64 | 59.77 | — | 22.14 | 17.84 | 21.64 | 22.69 |
| EV / FCF | — | 16.10 | 16.23 | 16.15 | 16.46 | 26.11 | — | 16.87 | 14.08 | 17.35 | 19.19 |
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 | 6.4% | 6.4% | 35.6% | 36.0% | 36.7% | 34.2% | 20.2% | 36.7% | 36.9% | 37.2% | 37.6% |
| Operating Margin | 17.7% | 17.7% | 20.5% | 18.4% | 16.7% | 9.3% | -17.0% | 18.5% | 20.3% | 17.3% | 17.8% |
| Net Profit Margin | 12.4% | 12.4% | 15.0% | 13.2% | 11.7% | 2.0% | -28.8% | 13.6% | 16.2% | 14.7% | 13.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.5% | 5.5% | 6.5% | 5.5% | 4.6% | 0.6% | -5.5% | 4.2% | 4.3% | 3.8% | 3.9% |
| ROA | 3.6% | 3.6% | 4.3% | 3.7% | 3.0% | 0.4% | -3.5% | 3.5% | 4.2% | 3.7% | 3.3% |
| ROIC | 3.9% | 3.9% | 4.6% | 3.9% | 3.3% | 1.4% | -1.6% | 3.2% | 3.2% | 2.7% | 2.8% |
| ROCE | 5.3% | 5.3% | 6.1% | 5.2% | 4.5% | 1.9% | -2.2% | 4.9% | 5.4% | 4.6% | 4.8% |
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 | 0.56 | 0.56 | 0.48 | 0.45 | 0.47 | 0.49 | 0.56 | 0.47 | 0.29 | 0.26 | 0.28 |
| Debt / EBITDA | 4.00 | 4.00 | 3.28 | 3.44 | 3.81 | 5.71 | 17.42 | 3.60 | 3.20 | 3.13 | 4.01 |
| Net Debt / Equity | — | 0.55 | 0.48 | 0.44 | 0.46 | 0.49 | 0.56 | 0.47 | 0.29 | 0.25 | 0.27 |
| Net Debt / EBITDA | 3.92 | 3.92 | 3.25 | 3.42 | 3.80 | 5.70 | 17.36 | 3.60 | 3.12 | 3.05 | 3.92 |
| Debt / FCF | — | 6.13 | 4.84 | 4.51 | 4.77 | 7.77 | — | 5.01 | 4.17 | 3.71 | 4.90 |
| Interest Coverage | 2.97 | 2.97 | 3.77 | 3.59 | 3.46 | 1.28 | -1.44 | 3.82 | 5.10 | 5.44 | 5.64 |
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 | 0.27 | 0.27 | 0.47 | 0.73 | 0.75 | 0.47 | 0.30 | 0.45 | 0.58 | 0.28 | 0.25 |
| Quick Ratio | 0.27 | 0.27 | 0.47 | 0.73 | 0.75 | 0.47 | 0.30 | 0.45 | -0.00 | -0.00 | 0.25 |
| Cash Ratio | 0.14 | 0.14 | 0.05 | 0.08 | 0.04 | 0.02 | 0.03 | — | 0.31 | 0.14 | 0.07 |
| Asset Turnover | — | 0.29 | 0.29 | 0.27 | 0.26 | 0.19 | 0.12 | 0.26 | 0.26 | 0.25 | 0.21 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 11.03 | 13.01 | — |
| 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 | 5.9% | 8.1% | 6.6% | 6.3% | 3.9% | 0.2% | 2.3% | 7.4% | 8.4% | 6.1% | 6.0% |
| Payout Ratio | 130.3% | 130.3% | 113.9% | 134.3% | 96.3% | 36.1% | — | 156.3% | 133.9% | 146.8% | 158.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.5% | 6.2% | 5.8% | 4.6% | 4.0% | 0.5% | — | 4.7% | 6.3% | 4.2% | 3.8% |
| FCF Yield | 7.3% | 10.0% | 8.8% | 8.6% | 8.6% | 5.5% | — | 8.4% | 10.1% | 7.3% | 7.0% |
| Buyback Yield | 1.6% | 2.2% | 0.9% | 0.2% | 0.1% | 0.1% | 0.5% | 0.1% | 3.2% | 0.0% | 0.2% |
| Total Shareholder Yield | 7.5% | 10.3% | 7.5% | 6.4% | 3.9% | 0.3% | 2.8% | 7.5% | 11.7% | 6.1% | 6.3% |
| Shares Outstanding | — | $238M | $241M | $229M | $229M | $226M | $224M | $224M | $230M | $224M | $191M |
Brand-mandated capital intensity
As reported in recent financial statements, APLE's NOI margins have exhibited extreme instability, collapsing from 38.9% in 2024Q2 to a mere 1.0% by 2025Q4, which suggests that the company's operating cost structure is highly sensitive to even minor fluctuations in occupancy and revenue.
The dramatic variance in property-level profitability indicates that the select-service model may lack the necessary operating leverage to absorb inflationary pressures in labor and utility costs. Investors should monitor whether these margin swings are structural or merely a result of periodic, heavy maintenance cycles required by brand standards.
Based on the company's reported figures, the FFO payout ratio has shown significant volatility, reaching a concerning 128.0% in 2025Q3, which implies that dividend distributions are occasionally exceeding cash generation and may rely on balance sheet liquidity to maintain current payout levels.
The inconsistency in dividend coverage suggests that the current yield may not be fully supported by recurring operational cash flow. A sustained payout ratio above 100% warrants further investigation into whether management is prioritizing shareholder returns over the necessary capital reinvestment required to maintain brand compliance.
According to the company's reported financial statements, Apple Hospitality maintains a debt-to-equity ratio of 0.56 as of 2025Q4, a figure that underscores a disciplined approach to property-level financing that effectively mitigates interest rate volatility compared to more highly levered lodging peers in the sector.
This conservative capital structure provides a meaningful buffer against sector-specific downturns, though it may limit the company's ability to pursue aggressive growth during favorable market cycles. The low leverage profile appears to be a strategic hedge, providing the firm with the flexibility to navigate periods of revenue contraction without immediate distress.
As noted in industry research, the use of standard P/E ratios for APLE is fundamentally flawed because it fails to account for the massive non-cash depreciation charges inherent in hotel ownership, which artificially depress net income and obscure the true cash-generating capacity of the portfolio.
Investors should instead focus on P/AFFO or implied cap rates, which better reflect the actual cash available for distribution after accounting for the recurring capital expenditures required by Marriott and Hilton. Relying on P/E ratios likely leads to an inaccurate valuation that ignores the capital-intensive nature of maintaining upscale select-service assets.
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying APLE stock.
Apple Hospitality REIT, Inc.'s current P/E ratio is 22.1x. The historical average is 39.2x. This places it at the 50th percentile of its historical range.
Apple Hospitality REIT, Inc.'s current EV/EBITDA is 12.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.6x.
Apple Hospitality REIT, Inc.'s return on equity (ROE) is 5.5%. The historical average is 3.4%.
Based on historical data, Apple Hospitality REIT, Inc. is trading at a P/E of 22.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Apple Hospitality REIT, Inc.'s current dividend yield is 5.89% with a payout ratio of 130.3%.
Apple Hospitality REIT, Inc. has 6.4% gross margin and 17.7% operating margin. Operating margin between 10-20% is typical for established companies.
Apple Hospitality REIT, Inc.'s Debt/EBITDA ratio is 4.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.