Latest Ratios: P/E Ratio 149.0x · EV/EBITDA 140.5x · ROE 1.0%. (1995–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.2B | $3.1B | $3.9B | $3.2B | $4.1B | $3.4B | $2.9B | $2.0B | $2.1B | $1.7B | $1.2B |
| Enterprise Value | $4.1B | $4.0B | $4.7B | $3.9B | $4.5B | $3.9B | $3.6B | $2.6B | $2.5B | $2.2B | $1.9B |
| P/E Ratio → | 149.04 | 140.18 | 63.77 | 9.60 | 9.62 | 20.25 | 52.77 | 15.90 | 23.76 | 154.26 | 39.27 |
| P/S Ratio | 3.04 | 2.93 | 3.84 | 2.41 | 3.05 | 3.25 | 3.54 | 2.01 | 3.03 | 2.85 | 2.15 |
| P/B Ratio | 1.62 | 1.53 | 1.81 | 1.42 | 2.67 | 2.59 | 2.39 | 0.98 | 3.15 | 2.60 | 6.08 |
| P/FCF | 47.88 | 46.15 | 104.97 | 10.45 | 9.50 | 11.68 | 35.92 | 15.43 | 18.28 | 20.95 | 39.92 |
| P/OCF | 17.14 | 16.52 | 24.74 | 6.52 | 8.08 | 10.08 | 21.08 | 10.93 | 12.65 | 16.74 | 16.75 |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.76 | 4.63 | 2.93 | 3.39 | 3.74 | 4.41 | 2.70 | 3.70 | 3.69 | 3.24 |
| EV / EBITDA | 140.52 | 136.54 | 22.91 | 7.12 | 7.22 | 10.90 | 21.65 | 2.77 | 3.71 | 4.01 | 19.23 |
| EV / EBIT | 123.94 | 107.71 | 55.05 | 9.13 | 8.43 | 13.86 | 41.88 | 14.86 | 17.25 | 26.29 | 31.67 |
| EV / FCF | — | 59.24 | 126.40 | 12.69 | 10.57 | 13.43 | 44.67 | 20.78 | 22.30 | 27.09 | 60.08 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 11.0% | 11.0% | 12.2% | 39.4% | 46.5% | 33.9% | 17.5% | 27.4% | 30.7% | 22.8% | 18.3% |
| Operating Margin | 3.1% | 3.1% | 8.4% | 33.7% | 41.2% | 27.0% | 11.6% | 19.0% | 21.4% | 5.9% | 10.2% |
| Net Profit Margin | 2.1% | 2.1% | 6.1% | 25.1% | 31.7% | 16.0% | 6.7% | 12.6% | 12.7% | 1.8% | 5.5% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.0% | 1.0% | 2.8% | 17.6% | 29.9% | 13.2% | 3.5% | 9.3% | 13.2% | 2.5% | 14.8% |
| ROA | 0.6% | 0.6% | 1.8% | 11.0% | 17.2% | 7.2% | 2.4% | 7.5% | 9.2% | 1.1% | 3.1% |
| ROIC | 0.8% | 0.8% | 2.2% | 13.6% | 21.8% | 11.2% | 3.1% | 7.3% | 9.6% | 2.7% | 5.3% |
| ROCE | 1.1% | 1.1% | 2.6% | 15.4% | 23.7% | 12.9% | 4.5% | 12.1% | 16.8% | 3.9% | 6.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.51 | 0.51 | 0.48 | 0.46 | 0.50 | 0.58 | 0.65 | 0.38 | 0.88 | 0.89 | 3.11 |
| Debt / EBITDA | 35.34 | 35.34 | 5.00 | 1.89 | 1.21 | 2.13 | 4.73 | 0.79 | 0.85 | 1.06 | 6.53 |
| Net Debt / Equity | — | 0.43 | 0.37 | 0.30 | 0.30 | 0.39 | 0.58 | 0.34 | 0.69 | 0.76 | 3.07 |
| Net Debt / EBITDA | 30.17 | 30.17 | 3.88 | 1.26 | 0.73 | 1.43 | 4.24 | 0.71 | 0.67 | 0.91 | 6.45 |
| Debt / FCF | — | 13.09 | 21.43 | 2.24 | 1.08 | 1.76 | 8.75 | 5.35 | 4.02 | 6.15 | 20.16 |
| Interest Coverage | 1.28 | 1.28 | 3.56 | 15.57 | 18.39 | 9.52 | 2.87 | 5.03 | 5.38 | 2.91 | 1.80 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.49 | 1.49 | 1.44 | 3.37 | 3.34 | 2.55 | 1.62 | 1.92 | 2.28 | 2.70 | 0.88 |
| Quick Ratio | 0.96 | 0.96 | 1.05 | 2.72 | 2.67 | 2.05 | 0.94 | 1.48 | 1.69 | 1.83 | 0.44 |
| Cash Ratio | 0.76 | 0.76 | 0.88 | 2.46 | 2.35 | 1.80 | 0.74 | 0.56 | 1.42 | 1.36 | 0.10 |
| Asset Turnover | — | 0.32 | 0.30 | 0.37 | 0.53 | 0.44 | 0.37 | 0.42 | 0.71 | 0.65 | 0.57 |
| Inventory Turnover | 8.77 | 8.77 | 8.98 | 8.86 | 8.48 | 9.71 | 8.89 | 11.64 | 9.38 | 8.79 | 13.37 |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.3% | 4.6% | 3.6% | 6.5% | 9.5% | 3.2% | 3.7% | 7.5% | 3.0% | 3.6% | 4.9% |
| Payout Ratio | 650.7% | 650.7% | 231.2% | 62.3% | 91.6% | 64.6% | 193.5% | 119.4% | 71.6% | 556.2% | 192.4% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.7% | 0.7% | 1.6% | 10.4% | 10.4% | 4.9% | 1.9% | 6.3% | 4.2% | 0.6% | 2.5% |
| FCF Yield | 2.1% | 2.2% | 1.0% | 9.6% | 10.5% | 8.6% | 2.8% | 6.5% | 5.5% | 4.8% | 2.5% |
| Buyback Yield | 1.1% | 1.1% | 0.6% | 1.7% | 0.0% | 0.5% | 0.9% | 0.0% | 0.0% | 0.3% | 0.0% |
| Total Shareholder Yield | 5.4% | 5.7% | 4.3% | 8.2% | 9.5% | 3.6% | 4.5% | 7.5% | 3.0% | 3.9% | 4.9% |
| Shares Outstanding | — | $79M | $80M | $73M | $68M | $68M | $68M | $62M | $41M | $41M | $41M |
Cyclical housing demand sensitivity
Based on reported financial data, PCH's valuation remains difficult to anchor as P/FFO multiples have hovered near 25x, a level that appears to price in significant recovery potential despite the current cyclical compression in wood product realizations and broader housing market headwinds.
The lack of a stable P/FFO or P/AFFO multiple reflects the market's struggle to reconcile the company's timberland asset base with its volatile manufacturing segment. Investors should monitor whether the current valuation premium over historical averages is justified by potential land-banking upside or if it represents an overestimation of near-term earnings recovery.
As reported in recent financial statements, NOI margins have exhibited extreme variance, ranging from 7.0% to 18.2% over the last ten quarters, which suggests that property-level profitability is heavily dependent on the timing of timber harvests and the cyclical pricing of finished lumber products.
This margin instability indicates that the company's profitability is less a function of operational efficiency and more a reflection of external commodity price fluctuations. The reliance on integrated sawmills introduces a high-beta component to the REIT structure that may continue to compress margins during periods of softening residential construction demand.
According to the company's quarterly filings, the FFO payout ratio has frequently exceeded 100%, reaching as high as 118.2% in 2024Q3, which indicates that the current dividend distribution may not be fully supported by recurring cash flow during cyclical troughs in the timber market.
The inconsistency in the payout ratio highlights a significant risk for income-oriented investors, as the company's ability to sustain dividends is tethered to the volatile Wood Products segment. Future dividend stability appears contingent upon the company's ability to manage maintenance capital expenditures and preserve cash during periods of depressed lumber pricing.
Based on the provided balance sheet data, PCH maintains a stable Debt/Equity ratio between 0.46 and 0.54, yet the decline in cash reserves from $331.2 million to $88.8 million suggests a tightening liquidity profile that warrants close monitoring by stakeholders.
While the low leverage ratio provides a defensive buffer, the rapid depletion of cash reserves may limit the company's flexibility to pursue strategic acquisitions or mill modernizations. The current capital structure appears healthy, but the lack of significant interest coverage in certain quarters suggests that the company's debt service capacity remains sensitive to earnings volatility.
As evidenced by the company's financial disclosures, the use of standard P/E ratios to evaluate PCH is fundamentally flawed, as it fails to account for the massive non-cash depletion and depreciation charges inherent in timberland ownership and sawmill operations.
Investors should prioritize FFO and AFFO metrics, as these adjustments better reflect the actual cash-generating capacity of the timberland portfolio. Relying on P/E obscures the true economic value of the company's land assets and leads to a distorted view of valuation that ignores the cyclical nature of the business.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying PCH stock.
PotlatchDeltic Corporation's current P/E ratio is 149.0x. The historical average is 31.8x. This places it at the 96th percentile of its historical range.
PotlatchDeltic Corporation's current EV/EBITDA is 140.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.7x.
PotlatchDeltic Corporation's return on equity (ROE) is 1.0%. The historical average is 12.7%.
Based on historical data, PotlatchDeltic Corporation is trading at a P/E of 149.0x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
PotlatchDeltic Corporation's current dividend yield is 4.30% with a payout ratio of 650.7%.
PotlatchDeltic Corporation has 11.0% gross margin and 3.1% operating margin.
PotlatchDeltic Corporation's Debt/EBITDA ratio is 35.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.