Latest Ratios: P/E Ratio 29.8x · EV/EBITDA 19.0x · ROE 15.3%. (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 | $3.4B | $3.4B | $2.6B | $3.5B | $2.3B | $3.1B | $2.5B | $1.2B | $826M | $1.3B | $1.4B |
| Enterprise Value | $3.7B | $3.7B | $3.2B | $4.1B | $2.8B | $3.4B | $2.7B | $1.3B | $877M | $1.3B | $1.4B |
| P/E Ratio → | 29.80 | 29.68 | 35.38 | 45.25 | 31.94 | 40.98 | 55.13 | 44.07 | 25.33 | 21.49 | 90.48 |
| P/S Ratio | 6.67 | 6.67 | 6.51 | 9.02 | 9.00 | 11.48 | 15.60 | 9.36 | 7.49 | 12.89 | 14.78 |
| P/B Ratio | 4.43 | 4.41 | 3.56 | 5.03 | 3.49 | 4.90 | 4.41 | 2.25 | 1.51 | 2.10 | 2.01 |
| P/FCF | 18.34 | 18.34 | 45.15 | — | — | — | — | — | 51.49 | 52.27 | 141.82 |
| P/OCF | 17.95 | 17.95 | 24.28 | 33.80 | 47.07 | 27.41 | 67.10 | 39.14 | 19.94 | 22.83 | 109.89 |
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 | — | 7.18 | 7.97 | 10.42 | 11.10 | 12.74 | 17.04 | 10.03 | 7.95 | 13.29 | 14.68 |
| EV / EBITDA | 19.03 | 19.03 | 22.60 | 31.32 | 33.21 | 30.19 | 45.69 | 30.63 | 7.74 | 13.30 | 14.68 |
| EV / EBIT | 25.21 | 15.88 | 33.56 | 31.04 | 45.57 | 29.68 | 37.28 | 26.28 | 20.54 | 24.55 | 40.25 |
| EV / FCF | — | 19.75 | 55.26 | — | — | — | — | — | 54.67 | 53.91 | 140.84 |
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 | 93.0% | 93.0% | 41.5% | 39.4% | 42.2% | 50.8% | 51.6% | 49.6% | 53.5% | 32.8% | 35.9% |
| Operating Margin | 28.5% | 28.5% | 23.7% | 23.3% | 24.4% | 35.4% | 29.3% | 24.6% | 26.7% | 2.3% | 2.0% |
| Net Profit Margin | 22.5% | 22.5% | 18.4% | 20.0% | 28.1% | 27.9% | 28.2% | 21.1% | 29.4% | 60.2% | 16.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.3% | 15.3% | 10.3% | 11.5% | 11.1% | 12.5% | 8.2% | 5.0% | 5.6% | 9.1% | 2.3% |
| ROA | 7.6% | 7.6% | 4.8% | 5.3% | 5.4% | 6.6% | 4.6% | 3.0% | 3.6% | 6.1% | 1.6% |
| ROIC | 9.3% | 9.3% | 5.6% | 5.6% | 4.3% | 8.0% | 5.0% | 3.9% | 3.5% | 0.3% | 0.2% |
| ROCE | 9.8% | 9.8% | 6.6% | 6.7% | 5.1% | 8.9% | 5.0% | 3.6% | 3.3% | 0.2% | 0.2% |
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 | 0.51 | 0.51 | 0.92 | 0.91 | 0.87 | 0.65 | 0.59 | 0.51 | 0.45 | 0.38 | 0.33 |
| Debt / EBITDA | 2.03 | 2.03 | 4.76 | 4.89 | 6.75 | 3.61 | 5.63 | 6.50 | 2.17 | 2.35 | 2.42 |
| Net Debt / Equity | — | 0.34 | 0.80 | 0.78 | 0.82 | 0.54 | 0.41 | 0.16 | 0.09 | 0.07 | -0.01 |
| Net Debt / EBITDA | 1.36 | 1.36 | 4.13 | 4.22 | 6.30 | 2.98 | 3.85 | 2.04 | 0.45 | 0.41 | -0.10 |
| Debt / FCF | — | 1.42 | 10.10 | — | — | — | — | — | 3.18 | 1.64 | -0.98 |
| Interest Coverage | 3.01 | 3.01 | 2.85 | 4.27 | 3.34 | 7.23 | 5.41 | 3.94 | 3.62 | 4.39 | 2.84 |
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 | 10.64 | 10.64 | 1.50 | 1.49 | 1.04 | 2.23 | 5.47 | 9.04 | 13.13 | 19.50 | 34.16 |
| Quick Ratio | 10.37 | 10.37 | 1.43 | 1.45 | 1.00 | 2.20 | 5.42 | 8.99 | 14.99 | -1.88 | 8.37 |
| Cash Ratio | 10.64 | 10.64 | 1.50 | 0.80 | 0.66 | 1.72 | 4.03 | 7.29 | 13.13 | 12.35 | 19.76 |
| Asset Turnover | — | 0.34 | 0.26 | 0.26 | 0.18 | 0.22 | 0.15 | 0.14 | 0.13 | 0.11 | 0.09 |
| Inventory Turnover | 10.81 | 10.81 | 58.35 | 55.52 | 36.87 | 46.95 | 38.39 | 46.30 | — | 0.20 | 0.19 |
| 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 | 1.0% | 1.0% | 1.2% | 0.7% | 1.0% | 0.6% | 0.2% | — | — | — | — |
| Payout Ratio | 29.1% | 29.1% | 40.9% | 33.0% | 33.1% | 25.3% | 9.1% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.4% | 3.4% | 2.8% | 2.2% | 3.1% | 2.4% | 1.8% | 2.3% | 3.9% | 4.7% | 1.1% |
| FCF Yield | 5.5% | 5.5% | 2.2% | — | — | — | — | — | 1.9% | 1.9% | 0.7% |
| Buyback Yield | 1.2% | 1.2% | 0.1% | 0.0% | 0.9% | 0.0% | 0.4% | 1.8% | 11.3% | 11.6% | 1.0% |
| Total Shareholder Yield | 2.2% | 2.2% | 1.3% | 0.7% | 1.9% | 0.6% | 0.5% | 1.8% | 11.3% | 11.6% | 1.0% |
| Shares Outstanding | — | $58M | $58M | $58M | $59M | $59M | $59M | $60M | $63M | $71M | $74M |
Geographic and transactional concentration
Based on reported figures, the company's P/FFO multiple has hovered near 13x, which appears to discount the unique regional monopoly held by the firm's 170,000-acre land bank compared to traditional homebuilders that must acquire inventory at current market prices.
The valuation suggests that investors are pricing the company as a long-term land-use monopoly rather than a cyclical developer. While the P/FFO multiple remains relatively stable, the lack of a direct peer comparison makes it difficult to determine if the current market price fully captures the optionality of the company's undeveloped acreage.
As reported in financial statements, NOI margins have exhibited extreme variance, swinging from 26.3% to 169.1% over the last ten quarters, which indicates that the company's profitability is heavily tethered to the irregular timing of high-margin land sales versus recurring hospitality operations.
The wide range in NOI margins suggests that the company's profitability is not yet stabilized by its hospitality and commercial segments. Investors should monitor whether the shift toward recurring revenue streams can eventually dampen the margin volatility currently inherent in the land-sale business model.
According to recent SEC filings, the FFO payout ratio has fluctuated between 1.4% and 57.8%, a trend that warrants caution as it suggests dividend sustainability is currently dependent on the episodic nature of land transactions rather than a consistent, recurring cash flow base.
The low payout ratios in certain quarters may appear attractive, but they likely reflect the lumpy nature of cash inflows rather than a deliberate policy of capital retention. The divergence between FFO and AFFO suggests that maintenance capital requirements for the hospitality portfolio could periodically pressure the company's ability to sustain dividends.
Based on reported figures, the debt-to-equity ratio has improved from 0.92 in 2024Q4 to 0.73 in 2026Q1, indicating that the company is successfully deleveraging while simultaneously funding significant infrastructure and hospitality projects across its Northwest Florida land holdings.
The reduction in debt levels suggests a disciplined approach to capital allocation, providing a buffer against potential cyclical downturns in the regional housing market. The company's ability to maintain this leverage profile while investing in long-dated assets appears to be a key pillar of its current financial stability.
As indicated by the provided data, the market's reliance on standard P/E multiples for this REIT is deeply misleading, as it fails to account for the significant non-cash depreciation charges that distort earnings and obscure the company's true cash-generating capacity.
Using P/E ignores the fundamental reality that land-heavy REITs should be evaluated on FFO or AFFO to account for the non-cash nature of asset depreciation. Investors should prioritize FFO-based metrics to better understand the company's ability to fund operations and dividends from its actual cash flow.
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 JOE stock.
The St. Joe Company's current P/E ratio is 29.8x. The historical average is 41.4x. This places it at the 35th percentile of its historical range.
The St. Joe Company's current EV/EBITDA is 19.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.2x.
The St. Joe Company's return on equity (ROE) is 15.3%. The historical average is 8.0%.
Based on historical data, The St. Joe Company is trading at a P/E of 29.8x. This is at the 35th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The St. Joe Company's current dividend yield is 0.98% with a payout ratio of 29.1%.
The St. Joe Company has 93.0% gross margin and 28.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
The St. Joe Company's Debt/EBITDA ratio is 2.0x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.