Latest Ratios: P/E Ratio 33.2x · EV/EBITDA 18.0x · ROE 8.4%. (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 | $12.3B | $11.9B | $12.6B | $10.9B | $12.1B | $18.4B | $9.9B | $10.5B | $8.4B | $8.5B | $7.6B |
| Enterprise Value | $16.2B | $15.8B | $16.1B | $14.3B | $15.8B | $20.9B | $12.7B | $13.0B | $10.7B | $10.4B | $9.8B |
| P/E Ratio → | 33.21 | 31.10 | 77.36 | 26.84 | 18.55 | 60.36 | 80.58 | 47.79 | 53.69 | 43.42 | 9.22 |
| P/S Ratio | 7.83 | 7.59 | 8.16 | 7.04 | 8.52 | 16.07 | 9.52 | 10.25 | 8.80 | 9.45 | 8.62 |
| P/B Ratio | 2.87 | 2.69 | 2.65 | 2.15 | 2.40 | 4.31 | 2.83 | 2.85 | 2.44 | 2.39 | 2.38 |
| P/FCF | 31.88 | 30.91 | 33.05 | 28.29 | 41.07 | 123.52 | 107.91 | 71.23 | 58.10 | 62.82 | 75.50 |
| P/OCF | 14.90 | 14.44 | 16.25 | 13.66 | 16.28 | 31.82 | 19.13 | 18.98 | 16.67 | 19.59 | 17.06 |
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 | — | 10.05 | 10.40 | 9.29 | 11.10 | 18.30 | 12.15 | 12.68 | 11.19 | 11.49 | 11.18 |
| EV / EBITDA | 17.99 | 17.57 | 18.26 | 15.93 | 18.84 | 32.36 | 21.94 | 22.24 | 19.88 | 9.22 | 11.10 |
| EV / EBIT | 56.04 | 29.44 | 52.90 | 26.15 | 60.06 | 50.86 | 57.16 | 42.62 | 43.36 | 399.93 | 17.82 |
| EV / FCF | — | 40.94 | 42.13 | 37.28 | 53.50 | 140.71 | 137.74 | 88.12 | 73.93 | 76.37 | 97.91 |
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 | 61.4% | 61.4% | 61.2% | 62.1% | 62.8% | 60.8% | 59.5% | 61.4% | 60.9% | 60.2% | 61.2% |
| Operating Margin | 18.4% | 18.4% | 19.3% | 21.0% | 18.4% | 19.8% | 20.2% | 24.3% | 24.8% | 26.2% | 28.0% |
| Net Profit Margin | 24.4% | 24.4% | 10.6% | 26.2% | 45.9% | 26.6% | 11.9% | 21.4% | 16.4% | 21.8% | 93.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.4% | 8.4% | 3.3% | 8.0% | 14.0% | 7.8% | 3.4% | 6.2% | 4.5% | 5.8% | 26.7% |
| ROA | 4.3% | 4.3% | 1.8% | 4.3% | 7.6% | 4.0% | 1.8% | 3.4% | 2.5% | 3.2% | 13.6% |
| ROIC | 2.6% | 2.6% | 2.7% | 2.8% | 2.5% | 2.6% | 2.5% | 3.1% | 3.2% | 3.3% | 3.3% |
| ROCE | 3.4% | 3.4% | 3.4% | 3.6% | 3.2% | 3.1% | 3.2% | 4.0% | 4.0% | 4.0% | 4.2% |
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 | 0.88 | 0.88 | 0.73 | 0.74 | 0.73 | 0.74 | 0.90 | 0.68 | 0.68 | 0.62 | 0.78 |
| Debt / EBITDA | 4.33 | 4.33 | 3.96 | 4.13 | 4.39 | 4.90 | 5.48 | 4.30 | 4.32 | 1.96 | 2.81 |
| Net Debt / Equity | — | 0.87 | 0.73 | 0.68 | 0.73 | 0.60 | 0.78 | 0.68 | 0.67 | 0.52 | 0.71 |
| Net Debt / EBITDA | 4.31 | 4.31 | 3.94 | 3.85 | 4.38 | 3.95 | 4.75 | 4.26 | 4.26 | 1.64 | 2.54 |
| Debt / FCF | — | 10.03 | 9.09 | 9.00 | 12.43 | 17.19 | 29.83 | 16.89 | 15.83 | 13.54 | 22.41 |
| Interest Coverage | 3.89 | 3.89 | 2.34 | 4.11 | 2.32 | 4.23 | 2.42 | 3.79 | 2.92 | 0.30 | 5.91 |
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 | 0.10 | 0.10 | 0.10 | 0.65 | 0.07 | 1.84 | 1.36 | 0.16 | 0.24 | 1.59 | 1.44 |
| Quick Ratio | 0.10 | 0.10 | 0.10 | 0.65 | 0.07 | 1.84 | 1.36 | 0.16 | 0.24 | 1.60 | 1.44 |
| Cash Ratio | 0.06 | 0.06 | 0.05 | 0.60 | 0.02 | 1.77 | 1.29 | 0.08 | 0.12 | 1.46 | 1.32 |
| Asset Turnover | — | 0.17 | 0.17 | 0.16 | 0.15 | 0.14 | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 |
| 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 | 3.6% | 3.9% | 3.6% | 4.0% | 3.3% | 1.9% | 3.4% | 3.0% | 3.5% | 3.3% | 8.8% |
| Payout Ratio | 119.9% | 119.9% | 276.2% | 107.8% | 60.7% | 112.9% | 269.0% | 144.5% | 190.9% | 142.9% | 80.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.0% | 3.2% | 1.3% | 3.7% | 5.4% | 1.7% | 1.2% | 2.1% | 1.9% | 2.3% | 10.8% |
| FCF Yield | 3.1% | 3.2% | 3.0% | 3.5% | 2.4% | 0.8% | 0.9% | 1.4% | 1.7% | 1.6% | 1.3% |
| Buyback Yield | 2.2% | 2.3% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.8% | 6.1% | 4.0% | 4.0% | 3.3% | 1.9% | 3.4% | 3.0% | 3.7% | 3.3% | 8.8% |
| Shares Outstanding | — | $108M | $109M | $109M | $108M | $103M | $99M | $99M | $95M | $93M | $90M |
Sunbelt supply saturation
According to the provided quarterly data, CPT's P/FFO multiple has fluctuated between 39.13 and 45.93, suggesting that investors are currently pricing in significant uncertainty regarding the company's ability to maintain historical earnings growth amidst a cooling Sunbelt multifamily market and elevated supply deliveries.
The elevated P/FFO multiple relative to historical norms suggests that the market may be assigning a premium to CPT's development platform despite the recent deceleration in FFO growth. Investors should monitor whether this valuation holds as the gap between in-place rents and market rates continues to narrow.
Based on reported financial figures, CPT has maintained NOI margins consistently near 61%, which, as noted in recent filings, indicates that the company's centralized operating model is effectively absorbing inflationary pressures on property-level expenses despite the broader slowdown in organic revenue growth across the Sunbelt portfolio.
The stability of these margins suggests that management's focus on technology-driven leasing and maintenance is successfully offsetting rising labor and tax costs. However, investors should remain cautious, as sustained supply gluts could eventually force higher marketing concessions, which would likely compress these margins in future periods.
As reported in quarterly financial statements, the FFO payout ratio has exhibited significant volatility, reaching as high as 85.5% in 2025Q3, which suggests that the dividend's safety margin is narrowing significantly when measured against the company's recurring cash flow after accounting for necessary maintenance capital expenditures.
The wide variance in the payout ratio appears to be driven by the lumpy nature of development completions and the impact of recurring CapEx on AFFO. Investors should monitor whether the company can stabilize its AFFO generation to ensure the dividend remains well-covered during periods of lower organic growth.
According to recent SEC filings, CPT maintains a debt-to-equity ratio of 0.88 as of 2025Q4, a figure that, based on historical data, highlights a fortress-like balance sheet that provides the company with significant financial flexibility to navigate potential valuation volatility and interest rate headwinds in the multifamily sector.
This low leverage profile appears to be a deliberate management strategy to prioritize financial stability over aggressive, debt-funded expansion. While this conservative stance may limit ROE compared to more highly levered peers, it likely reduces the company's risk profile during periods of market stress.
The most commonly misapplied metric for CPT is the standard P/E ratio, which, as indicated by the company's financial disclosures, is fundamentally distorted by heavy non-cash depreciation charges that do not reflect the actual economic aging or value-creation potential of the underlying multifamily property portfolio.
Using P/E obscures the company's true cash-generating capacity, as it treats necessary maintenance capital expenditures as non-existent. Analysts should instead prioritize P/FFO or P/AFFO, which provide a more accurate representation of the REIT's ability to fund distributions and reinvest in its core assets.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CPT stock.
Camden Property Trust's current P/E ratio is 33.2x. The historical average is 40.4x. This places it at the 62th percentile of its historical range.
Camden Property Trust's current EV/EBITDA is 18.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.7x.
Camden Property Trust's return on equity (ROE) is 8.4%. The historical average is 7.3%.
Based on historical data, Camden Property Trust is trading at a P/E of 33.2x. This is at the 62th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Camden Property Trust's current dividend yield is 3.62% with a payout ratio of 119.9%.
Camden Property Trust has 61.4% gross margin and 18.4% operating margin. Operating margin between 10-20% is typical for established companies.
Camden Property Trust's Debt/EBITDA ratio is 4.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.