Latest Ratios: P/E Ratio 30.5x · EV/EBITDA 18.2x · ROE 5.4%. (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 | $3.3B | $2.9B | $2.4B | $2.9B | $2.8B | $4.5B | $2.8B | $2.5B | $2.0B | $2.3B | $2.6B |
| Enterprise Value | $4.5B | $4.1B | $3.7B | $4.4B | $4.2B | $5.7B | $3.9B | $3.6B | $3.2B | $4.2B | $4.2B |
| P/E Ratio → | 30.53 | 27.24 | 62.46 | 121.42 | 26.37 | 11.66 | 16.09 | 9.23 | 8.73 | 29.24 | 29.19 |
| P/S Ratio | 9.35 | 8.29 | 6.60 | 8.48 | 8.81 | 13.05 | 8.62 | 7.75 | 5.00 | 5.95 | 5.98 |
| P/B Ratio | 1.59 | 1.42 | 1.12 | 1.28 | 1.18 | 1.93 | 1.43 | 1.47 | 1.47 | 1.74 | 1.82 |
| P/FCF | 20.00 | 17.73 | 12.24 | 15.08 | 17.50 | 21.88 | 15.43 | 14.49 | 9.77 | 10.96 | 11.12 |
| P/OCF | 17.36 | 15.39 | 11.21 | 13.79 | 14.57 | 20.37 | 14.11 | 13.15 | 9.08 | 10.23 | 10.91 |
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 | — | 11.72 | 10.39 | 12.78 | 12.95 | 16.56 | 11.85 | 11.13 | 8.03 | 10.63 | 9.81 |
| EV / EBITDA | 18.21 | 16.69 | 14.44 | 17.21 | 18.29 | 21.84 | 9.27 | 8.99 | 8.03 | 10.76 | 9.83 |
| EV / EBIT | 91.01 | 23.13 | 57.22 | 53.31 | 88.54 | 67.75 | 40.55 | 34.37 | 10.21 | 24.90 | 23.63 |
| EV / FCF | — | 25.05 | 19.26 | 22.73 | 25.73 | 27.77 | 21.21 | 20.81 | 15.69 | 19.59 | 18.25 |
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 | -30.7% | -30.7% | 29.3% | 29.0% | 26.7% | 34.7% | 87.3% | 87.1% | 46.7% | 43.0% | 50.3% |
| Operating Margin | 14.0% | 14.0% | 18.2% | 18.3% | 14.6% | 24.4% | 78.1% | 77.7% | 38.7% | 34.3% | 43.1% |
| Net Profit Margin | 32.3% | 32.3% | 12.4% | 8.9% | 35.4% | 111.2% | 55.5% | 85.9% | 57.5% | 21.9% | 22.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.4% | 5.4% | 2.0% | 1.3% | 4.8% | 17.7% | 9.9% | 18.2% | 16.9% | 6.2% | 6.7% |
| ROA | 3.1% | 3.1% | 1.1% | 0.7% | 2.8% | 10.2% | 5.5% | 9.1% | 7.0% | 2.4% | 2.6% |
| ROIC | 1.1% | 1.1% | 1.4% | 1.3% | 1.0% | 1.9% | 6.6% | 7.1% | 4.0% | 3.2% | 4.3% |
| ROCE | 1.4% | 1.4% | 1.7% | 1.6% | 1.2% | 2.3% | 8.0% | 8.6% | 5.0% | 4.1% | 5.5% |
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 | 0.67 | 0.67 | 0.69 | 0.73 | 0.58 | 0.60 | 0.63 | 0.71 | 1.01 | 1.45 | 1.23 |
| Debt / EBITDA | 5.57 | 5.57 | 5.66 | 6.58 | 6.09 | 5.36 | 2.95 | 3.03 | 3.45 | 5.01 | 4.04 |
| Net Debt / Equity | — | 0.59 | 0.64 | 0.65 | 0.56 | 0.52 | 0.54 | 0.64 | 0.89 | 1.37 | 1.17 |
| Net Debt / EBITDA | 4.88 | 4.88 | 5.26 | 5.79 | 5.85 | 4.63 | 2.53 | 2.73 | 3.03 | 4.74 | 3.84 |
| Debt / FCF | — | 7.32 | 7.02 | 7.64 | 8.23 | 5.89 | 5.78 | 6.32 | 5.91 | 8.63 | 7.13 |
| Interest Coverage | 3.00 | 3.00 | 0.98 | 1.76 | 1.03 | 1.80 | 1.75 | 1.62 | 3.89 | 2.15 | 2.03 |
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 | 85.31 | 85.31 | 1.40 | 3.12 | 1.31 | 2.18 | 2.07 | 1.91 | 2.64 | 0.57 | 1.63 |
| Quick Ratio | 85.31 | 85.31 | 1.40 | 3.12 | 1.31 | 2.18 | 2.07 | 1.91 | 2.65 | 0.57 | 1.63 |
| Cash Ratio | 56.24 | 56.24 | 0.75 | 2.42 | 0.36 | 1.22 | 1.39 | 1.18 | 1.47 | 0.36 | 0.51 |
| Asset Turnover | — | 0.10 | 0.09 | 0.08 | 0.08 | 0.09 | 0.09 | 0.10 | 0.13 | 0.11 | 0.12 |
| 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 | 5.0% | 5.7% | 6.7% | 5.3% | 5.0% | 2.9% | 4.2% | 4.9% | 8.9% | 7.4% | 6.5% |
| Payout Ratio | 145.2% | 145.2% | 355.1% | 500.1% | 125.2% | 33.5% | 64.6% | 43.9% | 77.2% | 201.1% | 173.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.3% | 3.7% | 1.6% | 0.8% | 3.8% | 8.6% | 6.2% | 10.8% | 11.4% | 3.4% | 3.4% |
| FCF Yield | 5.0% | 5.6% | 8.2% | 6.6% | 5.7% | 4.6% | 6.5% | 6.9% | 10.2% | 9.1% | 9.0% |
| Buyback Yield | 0.1% | 0.1% | 0.1% | 0.1% | 4.6% | 0.0% | 0.4% | 0.1% | 2.5% | 0.0% | 0.3% |
| Total Shareholder Yield | 5.2% | 5.8% | 6.8% | 5.4% | 9.7% | 2.9% | 4.5% | 5.0% | 11.4% | 7.4% | 6.8% |
| Shares Outstanding | — | $59M | $58M | $58M | $56M | $57M | $54M | $48M | $48M | $48M | $48M |
Legacy asset disposition volatility
As reported in quarterly financial filings, LXP's NOI margin has exhibited extreme fluctuations, ranging from a negative 145.6% in 2025Q3 to a positive 80.5% in 2026Q1, suggesting that non-recurring impairment charges continue to obscure the underlying profitability of the core industrial leasing operations.
The erratic margin profile appears to be a byproduct of the ongoing transition away from legacy office assets rather than a reflection of operational inefficiency within the industrial portfolio. Investors should monitor whether margins stabilize at higher levels as the company completes its pivot to a pure-play industrial model.
Based on the provided data, the FFO payout ratio has fluctuated between 48.2% and 92.0% over the last ten quarters, indicating that while the dividend remains covered, the sustainability of the payout is sensitive to the timing of asset sales and non-recurring income items.
The variability in the payout ratio suggests that management is balancing capital recycling needs with the desire to maintain a consistent distribution. A sustained payout ratio at the lower end of this range would imply a more robust margin of safety for shareholders as the industrial portfolio matures.
According to recent financial statements, LXP maintains a debt-to-equity ratio of 0.63 as of 2026Q1, which appears notably conservative compared to industrial peers and provides the company with significant insulation from interest rate volatility during its ongoing portfolio transformation.
This low leverage profile suggests that the trust is well-positioned to fund its development pipeline without immediate reliance on external capital markets. However, investors should investigate whether this conservative stance reflects a temporary cash-heavy position or a deliberate strategy to maintain balance sheet flexibility.
The most commonly misapplied metric for LXP is the standard P/E ratio, which, as indicated by the provided data, fails to account for significant non-cash depreciation and impairment charges that distort the company's true earnings power and cash-generating capacity.
Using P/E in a REIT context obscures the actual cash available for distribution, as it treats non-cash accounting charges as real economic costs. Analysts should instead utilize P/FFO or P/AFFO to better align valuation with the recurring cash flow generated by the industrial property portfolio.
Includes 30+ ratios · 30 years · Updated daily
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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 LXP stock.
LXP Industrial Trust's current P/E ratio is 30.5x. The historical average is 28.2x. This places it at the 83th percentile of its historical range.
LXP Industrial Trust's current EV/EBITDA is 18.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.6x.
LXP Industrial Trust's return on equity (ROE) is 5.4%. The historical average is 5.5%.
Based on historical data, LXP Industrial Trust is trading at a P/E of 30.5x. This is at the 83th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
LXP Industrial Trust's current dividend yield is 5.05% with a payout ratio of 145.2%.
LXP Industrial Trust has -30.7% gross margin and 14.0% operating margin. Operating margin between 10-20% is typical for established companies.
LXP Industrial Trust's Debt/EBITDA ratio is 5.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.