Latest Ratios: P/E Ratio -581.4x · EV/EBITDA 48.7x · ROE -0.3%. (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 | $79M | $81M | $87M | $91M | $90M | $77M | $40M | $71M | $80M | $76M | $96M |
| Enterprise Value | $105M | $107M | $115M | $122M | $122M | $111M | $75M | $72M | $80M | $76M | $97M |
| P/E Ratio → | -581.36 | — | — | — | — | 191.70 | — | 46.75 | 26.72 | 39.06 | 63.33 |
| P/S Ratio | 3.53 | 3.61 | 4.04 | 4.05 | 4.22 | 3.82 | 2.04 | 3.45 | 4.13 | 3.87 | 5.15 |
| P/B Ratio | 1.50 | 1.54 | 1.65 | 1.72 | 1.69 | 1.43 | 0.74 | 1.29 | 1.50 | 1.51 | 1.94 |
| P/FCF | 617.22 | 632.14 | — | 77.79 | — | — | — | — | 557.38 | 40.22 | 65.85 |
| P/OCF | 31.43 | 32.19 | 60.88 | 41.16 | 53.45 | 72.34 | 25.39 | 20.64 | 24.71 | 18.98 | 24.16 |
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 | — | 4.75 | 5.34 | 5.40 | 5.71 | 5.50 | 3.84 | 3.51 | 4.14 | 3.88 | 5.23 |
| EV / EBITDA | 48.67 | 49.56 | 104.31 | 63.75 | 112.62 | 117.22 | 177.80 | 3.36 | 4.09 | 3.83 | 5.17 |
| EV / EBIT | — | — | — | 1420.62 | — | 220.15 | — | 31.16 | 40.69 | 24.19 | 37.99 |
| EV / FCF | — | 830.91 | — | 103.69 | — | — | — | — | 558.62 | 40.33 | 66.87 |
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 | 22.3% | 22.3% | 29.8% | 31.9% | 31.5% | 29.2% | 28.2% | 45.2% | 42.6% | 47.8% | 45.8% |
| Operating Margin | -0.7% | -0.7% | -2.9% | 1.0% | -3.1% | -4.1% | -6.3% | 9.2% | 9.7% | 15.6% | 13.6% |
| Net Profit Margin | -0.6% | -0.6% | -1.9% | -0.4% | -3.3% | 2.0% | -4.6% | 7.4% | 15.4% | 9.8% | 8.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.3% | -0.3% | -0.8% | -0.2% | -1.3% | 0.7% | -1.7% | 2.8% | 5.8% | 3.9% | 3.2% |
| ROA | -0.1% | -0.1% | -0.4% | -0.1% | -0.7% | 0.4% | -1.1% | 2.2% | 4.5% | 3.0% | 2.3% |
| ROIC | -0.1% | -0.1% | -0.6% | 0.2% | -0.6% | -0.7% | -1.3% | 2.6% | 2.7% | 4.5% | 3.8% |
| ROCE | -0.2% | -0.2% | -0.7% | 0.2% | -0.7% | -0.9% | -1.6% | 3.0% | 3.0% | 5.1% | 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 | 0.52 | 0.52 | 0.55 | 0.59 | 0.62 | 0.65 | 0.71 | 0.10 | 0.10 | 0.11 | 0.14 |
| Debt / EBITDA | 12.67 | 12.67 | 26.41 | 16.55 | 30.36 | 37.31 | 91.01 | 0.25 | 0.28 | 0.28 | 0.36 |
| Net Debt / Equity | — | 0.48 | 0.53 | 0.57 | 0.60 | 0.62 | 0.65 | 0.02 | 0.00 | 0.00 | 0.03 |
| Net Debt / EBITDA | 11.86 | 11.86 | 25.28 | 15.92 | 29.42 | 35.67 | 83.29 | 0.05 | 0.01 | 0.01 | 0.08 |
| Debt / FCF | — | 198.77 | — | 25.89 | — | — | — | — | 1.24 | 0.10 | 1.02 |
| Interest Coverage | -2.28 | -2.28 | -2.99 | 0.37 | -2.98 | 1.90 | -5.23 | 11.49 | 8.41 | 13.86 | 10.43 |
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 | 0.92 | 0.92 | 1.75 | 2.78 | 2.25 | 3.21 | 3.56 | 1.21 | 2.90 | 2.65 | 1.73 |
| Quick Ratio | 0.92 | 0.92 | 1.75 | 2.78 | 2.25 | 3.21 | 3.56 | 0.09 | 2.90 | 2.21 | 1.73 |
| Cash Ratio | 0.28 | 0.28 | 0.37 | 1.29 | 1.12 | 1.57 | 1.96 | 0.89 | 2.27 | 2.16 | 1.38 |
| Asset Turnover | — | 0.23 | 0.24 | 0.25 | 0.23 | 0.21 | 0.19 | 0.30 | 0.29 | 0.30 | 0.29 |
| Inventory Turnover | — | — | — | — | — | — | — | 1.16 | — | 6.10 | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | 0.5% | — | 2.1% | 3.7% | 2.6% | 1.6% |
| FCF Yield | 0.2% | 0.2% | — | 1.3% | — | — | — | — | 0.2% | 2.5% | 1.5% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M |
Urban retail vacancy exposure
Based on current market data, J.W. Mays trades at a P/S ratio of 3.58, which appears disconnected from its negative earnings profile and suggests the market is pricing the company as a distressed asset play rather than a traditional income-generating real estate entity.
The negative P/E of -590.83 reflects the company's inability to maintain consistent profitability, yet the P/B ratio of 1.53 indicates that investors are paying a premium over book value. This valuation gap suggests that the market may be attempting to account for the significant appreciation of its urban land holdings, which are not reflected in the depreciated historical cost figures.
As reported in recent financial statements, the company's operating margin has deteriorated to -6.1% in 2026Q3, signaling that rising property-level expenses and administrative overhead are consistently outpacing rental income growth in the current inflationary environment.
The volatility in gross margins, which swung from 32.1% in 2025Q3 to 2.8% in 2026Q3, highlights a structural inability to pass through rising municipal taxes and maintenance costs to tenants. This trend suggests that the company's current leasing model may be failing to adapt to the shifting economics of urban retail corridors.
According to historical performance data, J.W. Mays has struggled to generate positive returns, with ROIC falling to -0.3% in 2026Q3, indicating that the company is currently failing to compound value on its invested capital base.
The persistent negative ROE and ROIC trends suggest that the company's capital is trapped in underperforming assets that do not generate sufficient cash flow to justify their maintenance. Investors should monitor whether management can pivot toward higher-yielding redevelopment or if the current decay in returns is a permanent feature of the legacy portfolio.
Based on quarterly filings, the company's DSO has trended upward to 69 days in 2026Q3, suggesting that J.W. Mays is experiencing increasing difficulty in collecting timely rental payments from its tenant base compared to historical norms.
The lack of consistent DPO data combined with rising DSO indicates a potential strain on working capital management. This inefficiency, coupled with an asset turnover ratio of only 0.06, implies that the company's real estate portfolio is significantly underutilized relative to its potential revenue-generating capacity.
As reported in recent financial disclosures, the company maintains a conservative debt-to-equity ratio of 0.60, which provides a significant solvency buffer but fails to compensate for the underlying operational losses currently impacting the firm's cash position.
While the low leverage profile protects the company from interest rate volatility, the high D/EBITDA ratio of 82.21 suggests that the company's ability to service even minimal debt is severely constrained by its current lack of operating income. This indicates that the balance sheet is healthy in terms of solvency, but highly vulnerable in terms of liquidity.
The most commonly misapplied metric for J.W. Mays is the P/E ratio, which obscures the company's true value by focusing on accounting earnings that are heavily distorted by non-cash depreciation charges on legacy real estate assets.
Because the company is not a REIT and carries its properties at historical cost, analysts should instead focus on Net Asset Value (NAV) estimates to capture the true economic worth of its urban land. Relying on P/E or FFO multiples in this context leads to a fundamental misunderstanding of the company's role as a long-term land bank rather than an active property manager.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying MAYS stock.
J.W. Mays, Inc.'s current P/E ratio is -581.4x. The historical average is 50.4x.
J.W. Mays, Inc.'s current EV/EBITDA is 48.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.0x.
J.W. Mays, Inc.'s return on equity (ROE) is -0.3%. The historical average is 2.3%.
Based on historical data, J.W. Mays, Inc. is trading at a P/E of -581.4x. Compare with industry peers and growth rates for a complete picture.
J.W. Mays, Inc. has 22.3% gross margin and -0.7% operating margin.
J.W. Mays, Inc.'s Debt/EBITDA ratio is 12.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.