Latest Ratios: P/E Ratio -6.0x · EV/EBITDA 38.5x · ROE N/A. (2013–2025 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 | $119M | $162M | $74M | $87M | $103M | $160M | $124M | $189M | $233M | $170M | — |
| Enterprise Value | $1.4B | $1.4B | $1.3B | $1.3B | $1.2B | $1.3B | $1.1B | $1.1B | $1.1B | $1.0B | — |
| P/E Ratio → | -5.98 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.78 | 1.06 | 0.50 | 0.63 | 0.79 | 1.30 | 1.01 | 1.63 | 2.12 | 1.64 | — |
| P/B Ratio | — | — | — | 11.99 | 2.77 | 2.28 | 1.19 | 1.33 | 1.44 | 0.92 | — |
| P/FCF | 5.29 | 7.19 | 2.32 | 3.31 | 5.10 | — | 7.77 | — | — | — | — |
| P/OCF | 5.29 | 7.19 | 2.32 | 3.31 | 5.10 | 14.75 | 7.77 | 7.94 | 8.54 | 15.78 | — |
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 | — | 9.20 | 8.87 | 9.19 | 9.61 | 10.24 | 9.21 | 9.86 | 10.09 | 9.67 | — |
| EV / EBITDA | 38.48 | 39.68 | 18.78 | 20.49 | 22.82 | 25.17 | 20.44 | 22.14 | 10.10 | 9.64 | — |
| EV / EBIT | 327.11 | 42.53 | 32.58 | 43.35 | 45.10 | 59.08 | 36.16 | 34.21 | 46.65 | 34.09 | — |
| EV / FCF | — | 62.42 | 41.44 | 48.51 | 61.88 | — | 70.78 | — | — | — | — |
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 | 80.2% | 80.2% | 57.0% | 54.7% | 52.3% | 51.6% | 52.6% | 53.6% | 54.9% | 54.1% | 53.6% |
| Operating Margin | 2.7% | 2.7% | 27.2% | 24.0% | 21.3% | 19.7% | 26.2% | 28.8% | 29.5% | 28.4% | 27.7% |
| Net Profit Margin | -13.0% | -13.0% | -1.7% | -4.3% | -3.7% | -6.2% | -4.0% | -1.4% | -3.3% | -2.3% | -4.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | -26.6% | -8.9% | -8.7% | -4.0% | -1.1% | -2.1% | -1.5% | -2.7% |
| ROA | -1.6% | -1.6% | -0.2% | -0.5% | -0.4% | -0.6% | -0.4% | -0.1% | -0.3% | -0.2% | -0.4% |
| ROIC | 0.3% | 0.3% | 2.5% | 2.1% | 1.8% | 1.6% | 2.2% | 2.4% | 2.4% | 2.4% | 2.5% |
| ROCE | 0.3% | 0.3% | 3.2% | 2.7% | 2.3% | 2.0% | 2.7% | 3.0% | 3.0% | 3.0% | 2.9% |
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 | — | — | — | 166.64 | 31.24 | 16.17 | 10.37 | 7.05 | 5.66 | 4.55 | 5.98 |
| Debt / EBITDA | 35.98 | 35.98 | 18.01 | 19.45 | 21.27 | 22.66 | 19.49 | 19.31 | 8.32 | 8.09 | 8.12 |
| Net Debt / Equity | — | — | — | 163.57 | 30.76 | 15.68 | 9.68 | 6.75 | 5.43 | 4.50 | 5.68 |
| Net Debt / EBITDA | 35.12 | 35.12 | 17.73 | 19.10 | 20.93 | 21.97 | 18.19 | 18.49 | 7.98 | 8.01 | 7.72 |
| Debt / FCF | — | 55.23 | 39.12 | 45.20 | 56.78 | — | 63.01 | — | — | — | — |
| Interest Coverage | 0.62 | 0.62 | 0.86 | 0.65 | 0.69 | 0.52 | 0.78 | 0.95 | 0.73 | 0.83 | 0.68 |
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 | 7.48 | 7.48 | 2.82 | 2.60 | 2.89 | 3.99 | 9.14 | 5.80 | 5.01 | 4.42 | 7.16 |
| Quick Ratio | 7.48 | 7.48 | 2.82 | 2.60 | 2.89 | 3.99 | 9.14 | 5.80 | 4.30 | 2.91 | 5.93 |
| Cash Ratio | 5.84 | 5.84 | 1.06 | 1.06 | 1.06 | 1.77 | 6.15 | 3.26 | 2.95 | 0.91 | 4.18 |
| Asset Turnover | — | 0.12 | 0.12 | 0.11 | 0.11 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 5.61 | 3.48 | 3.89 |
| 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 | 15.5% | 11.4% | 23.8% | 20.1% | 16.6% | 3.8% | 13.9% | 3.6% | 2.9% | 9.7% | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 18.9% | 13.9% | 43.2% | 30.2% | 19.6% | — | 12.9% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 8.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 15.5% | 11.4% | 23.8% | 20.1% | 16.6% | 3.8% | 21.9% | 3.6% | 2.9% | 9.7% | — |
| Shares Outstanding | — | $42M | $16M | $16M | $16M | $16M | $18M | $18M | $18M | $17M | $18M |
High Refinancing and Regulatory Risk
As reported in the quarterly financial statements, the company's NOI margin experienced a sharp contraction to 10.5% in 2026Q1, a significant departure from the 55% to 58% range maintained throughout 2024, which implies that rising property-level operating expenses are severely eroding the profitability of the underlying real estate.
The dramatic drop in NOI margin suggests that the company is struggling to absorb inflationary pressures within its NYC-centric portfolio. Given the regulatory constraints on rent-stabilized units, this margin compression appears structural rather than transitory, indicating that organic growth is insufficient to offset rising maintenance and tax costs.
Based on reported figures, the company's FFO payout ratio reached 122.0% in 2026Q1, indicating that distributions are currently exceeding the core earnings generated by the portfolio, which raises significant questions about the long-term viability of the current dividend policy in a high-interest rate environment.
A payout ratio consistently exceeding 100% suggests that the dividend is being funded through debt or capital recycling rather than operational cash flow. Investors should monitor whether management chooses to maintain this payout level, as it appears to be an unsustainable drain on the company's already limited liquidity.
According to the company's reported financial statements, the interest coverage ratio has deteriorated to 0.28 in 2026Q1, reflecting a highly leveraged capital structure that leaves little room for balance sheet volatility in the current interest rate environment and complicates the refinancing of upcoming debt maturities.
The low interest coverage ratio indicates that the company's operating income is insufficient to comfortably service its debt obligations. This vulnerability is exacerbated by the company's reliance on floating-rate debt, which may necessitate dilutive equity raises or asset sales if refinancing costs continue to exceed the cap rates of the underlying properties.
The market's reliance on standard P/E ratios for Clipper Realty is fundamentally flawed, as reported in financial statements, because heavy non-cash depreciation charges on NYC real estate assets artificially depress net income, obscuring the company's actual cash-generating capacity and distorting the valuation of its underlying property portfolio.
Investors should instead focus on FFO or AFFO to normalize for non-cash accounting distortions. Using P/E in this context leads to misleading conclusions about the company's profitability, as it fails to account for the fact that the real estate assets may be appreciating in market value despite the GAAP-reported losses.
Includes 30+ ratios · 13 years · Updated daily
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Quick answers to the most common questions about buying CLPR stock.
Clipper Realty Inc.'s current P/E ratio is -6.0x. This places it at the 50th percentile of its historical range.
Clipper Realty Inc.'s current EV/EBITDA is 38.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.0x.
Based on historical data, Clipper Realty Inc. is trading at a P/E of -6.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Clipper Realty Inc.'s current dividend yield is 15.47%.
Clipper Realty Inc. has 80.2% gross margin and 2.7% operating margin.
Clipper Realty Inc.'s Debt/EBITDA ratio is 36.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.