Latest Ratios: P/E Ratio -20.4x · EV/EBITDA 14.4x · ROE -2.5%. (2009–2025 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 | $2.1B | $1.3B | $1.6B | $1.9B | $1.7B | $2.9B | $2.5B | $3.5B | $2.1B | $2.6B | $2.2B |
| Enterprise Value | $4.4B | $3.6B | $4.0B | $4.4B | $4.4B | $5.6B | $5.1B | $6.2B | $4.8B | $3.5B | $3.1B |
| P/E Ratio → | -20.43 | — | — | — | — | — | — | 42.56 | 157.28 | 31.24 | 46.48 |
| P/S Ratio | 1.41 | 0.90 | 1.12 | 1.37 | 1.25 | 3.99 | 5.54 | 2.17 | 2.54 | 3.38 | 2.64 |
| P/B Ratio | 0.84 | 0.52 | 0.58 | 0.68 | 0.57 | 0.92 | 0.75 | 0.96 | 0.56 | 1.73 | 1.34 |
| P/FCF | 13.69 | 8.70 | 5.90 | 8.24 | 10.78 | — | — | 8.88 | 15.52 | 13.34 | 8.93 |
| P/OCF | 8.35 | 5.30 | 5.90 | 8.24 | 6.27 | 41.35 | — | 8.87 | 15.50 | 13.34 | 8.92 |
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 | — | 2.44 | 2.74 | 3.10 | 3.17 | 7.68 | 11.56 | 3.86 | 5.75 | 4.50 | 3.82 |
| EV / EBITDA | 14.39 | 11.88 | 12.71 | 15.81 | 17.35 | 41.86 | — | 13.39 | 6.23 | 4.50 | 3.82 |
| EV / EBIT | 57.91 | 75.91 | 51.83 | 129.76 | — | — | — | 27.97 | 71.69 | 25.57 | 27.16 |
| EV / FCF | — | 23.62 | 14.49 | 18.64 | 27.24 | — | — | 15.76 | 35.17 | 17.75 | 12.92 |
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 | -6.7% | -6.7% | 25.2% | 24.9% | 27.5% | 17.0% | -11.5% | 31.8% | 31.7% | 32.9% | 34.5% |
| Operating Margin | 5.1% | 5.1% | 5.8% | 2.7% | 1.1% | -12.2% | -66.1% | 14.2% | 8.1% | 15.7% | 17.1% |
| Net Profit Margin | -4.5% | -4.5% | -0.3% | -5.5% | -6.3% | -25.2% | -88.4% | 7.2% | 1.6% | 13.0% | 9.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.5% | -2.5% | -0.2% | -2.6% | -2.8% | -5.8% | -11.4% | 3.1% | 0.5% | 6.4% | 4.4% |
| ROA | -1.2% | -1.2% | -0.1% | -1.3% | -1.4% | -3.0% | -6.2% | 1.7% | 0.3% | 3.7% | 2.5% |
| ROIC | 1.1% | 1.1% | 1.2% | 0.5% | 0.2% | -1.1% | -3.6% | 2.7% | 1.1% | 3.7% | 3.9% |
| ROCE | 1.5% | 1.5% | 1.7% | 0.8% | 0.3% | -1.5% | -4.9% | 3.6% | 1.5% | 4.8% | 5.1% |
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 | 0.96 | 0.96 | 0.92 | 0.93 | 0.88 | 0.87 | 0.85 | 0.75 | 0.73 | 0.59 | 0.62 |
| Debt / EBITDA | 8.11 | 8.11 | 8.19 | 9.48 | 10.65 | 20.54 | — | 5.91 | 3.59 | 1.15 | 1.22 |
| Net Debt / Equity | — | 0.89 | 0.85 | 0.86 | 0.86 | 0.85 | 0.82 | 0.75 | 0.71 | 0.57 | 0.60 |
| Net Debt / EBITDA | 7.50 | 7.50 | 7.53 | 8.82 | 10.49 | 20.10 | — | 5.84 | 3.48 | 1.12 | 1.18 |
| Debt / FCF | — | 14.92 | 8.58 | 10.40 | 16.46 | — | — | 6.87 | 19.65 | 4.41 | 3.99 |
| Interest Coverage | 0.46 | 0.46 | 0.75 | 0.32 | -0.01 | -1.14 | — | 2.05 | 1.23 | 3.63 | 2.63 |
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 | 0.70 | 0.70 | 0.72 | 0.19 | 0.11 | 0.38 | 0.70 | 0.44 | 0.53 | 0.58 | 0.58 |
| Quick Ratio | 0.70 | 0.70 | 0.72 | 0.19 | 0.11 | 0.38 | 0.70 | 0.44 | 0.53 | 0.58 | 0.58 |
| Cash Ratio | 0.56 | 0.56 | 0.58 | 0.15 | 0.05 | 0.17 | 0.45 | 0.08 | 0.18 | 0.14 | 0.18 |
| Asset Turnover | — | 0.28 | 0.26 | 0.24 | 0.23 | 0.12 | 0.07 | 0.25 | 0.12 | 0.30 | 0.29 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 566025.00 | — | — |
| 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 | 0.2% | 0.4% | 0.3% | 0.3% | 0.3% | 0.2% | 2.2% | 5.3% | 5.0% | 4.1% | 4.9% |
| Payout Ratio | — | — | — | — | — | — | — | 160.1% | 789.4% | 107.4% | 142.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | 2.3% | 0.6% | 3.2% | 2.2% |
| FCF Yield | 7.3% | 11.5% | 16.9% | 12.1% | 9.3% | — | — | 11.3% | 6.4% | 7.5% | 11.2% |
| Buyback Yield | 3.8% | 5.9% | 1.0% | 4.8% | 4.0% | 0.0% | 0.1% | 0.1% | 0.1% | 3.7% | 10.6% |
| Total Shareholder Yield | 4.0% | 6.3% | 1.3% | 5.0% | 4.4% | 0.2% | 2.2% | 5.4% | 5.1% | 7.8% | 15.5% |
| Shares Outstanding | — | $117M | $120M | $122M | $130M | $131M | $131M | $131M | $74M | $70M | $72M |
Urban Gateway Demand Sensitivity
Based on reported figures, Pebblebrook's P/FFO multiple has remained stubbornly elevated above 22x, suggesting that the market is pricing the REIT as a distressed recovery play rather than a stable income vehicle, despite the ongoing portfolio transition toward higher-growth resort assets.
The valuation appears to be heavily influenced by the market's skepticism regarding the recovery of the San Francisco and Seattle urban markets. Investors should monitor whether the current EV/EBITDA of 14.64 represents a floor or if further compression is warranted given the persistent volatility in FFO generation.
As reported in financial statements, NOI margins have exhibited extreme volatility, swinging from a negative 10.6% in 2025Q4 to 100% in 2026Q1, which indicates that property-level profitability is highly sensitive to the timing of renovation-related closures and non-recurring operational expenses.
This erratic margin profile suggests that the company's lifestyle-oriented model carries significant fixed-cost burdens that are difficult to scale during periods of low occupancy. Analysts should interpret these fluctuations as evidence of the high operational intensity required to maintain boutique standards in gateway markets.
According to recent SEC filings, the FFO payout ratio has fluctuated significantly, reaching as high as 17.3% in 2024Q4, which, when combined with negative AFFO in multiple periods, suggests that the current dividend distribution is not supported by recurring, sustainable cash flow generation.
The reliance on capital recycling to fund distributions appears to be a structural necessity rather than a choice. Investors should be cautious, as the lack of consistent AFFO coverage implies that the dividend may be vulnerable if asset disposition proceeds are constrained by market conditions.
Based on reported figures, the debt-to-equity ratio has remained consistently near 0.90 to 0.99 over the last ten quarters, indicating that the company's balance sheet is operating near its capacity and lacks the flexibility to absorb further shocks without potential dilution.
The interest coverage ratio, which dipped into negative territory in 2025Q1 and 2024Q4, warrants further investigation as it highlights the vulnerability of the company's debt service to fluctuating property-level performance. This leverage profile suggests that refinancing risk remains a primary concern for the firm's long-term stability.
The most commonly misapplied metric for Pebblebrook is the standard P/E ratio, which, at -21.18, is fundamentally distorted by heavy non-cash depreciation charges inherent in hotel real estate, thereby obscuring the company's actual cash-generating capacity and operational health.
Investors should instead focus on P/FFO or P/AFFO, which adjust for these non-cash accounting distortions. Relying on P/E leads to a misleading conclusion of structural insolvency, whereas FFO provides a more accurate, albeit still imperfect, view of the REIT's ability to generate distributable cash from its hotel operations.
Includes 30+ ratios · 17 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying PEB stock.
Pebblebrook Hotel Trust's current P/E ratio is -20.4x. The historical average is 79.1x.
Pebblebrook Hotel Trust's current EV/EBITDA is 14.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.1x.
Pebblebrook Hotel Trust's return on equity (ROE) is -2.5%. The historical average is 0.3%.
Based on historical data, Pebblebrook Hotel Trust is trading at a P/E of -20.4x. Compare with industry peers and growth rates for a complete picture.
Pebblebrook Hotel Trust's current dividend yield is 0.22%.
Pebblebrook Hotel Trust has -6.7% gross margin and 5.1% operating margin.
Pebblebrook Hotel Trust's Debt/EBITDA ratio is 8.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.