Latest Ratios: P/E Ratio -1.4x · EV/EBITDA 10.3x · ROE -27.0%. (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 | $289M | $305M | $420M | $1.4B | $1.2B | $1.4B | $1.9B | $4.0B | $3.9B | $4.9B | $5.0B |
| Enterprise Value | $5.4B | $5.4B | $6.0B | $6.7B | $6.8B | $7.6B | $8.0B | $10.0B | $8.1B | $8.9B | $8.1B |
| P/E Ratio → | -1.43 | — | — | — | — | — | — | 15.40 | 21.13 | 24.07 | 24.42 |
| P/S Ratio | 0.16 | 0.17 | 0.22 | 0.75 | 0.64 | 0.97 | 1.49 | 1.73 | 1.71 | 2.26 | 2.42 |
| P/B Ratio | 0.45 | 0.47 | 0.49 | 1.15 | 0.86 | 0.93 | 0.90 | 1.60 | 0.58 | 0.74 | 0.80 |
| P/FCF | 2.46 | 2.59 | 3.01 | 2.90 | 4.94 | 28.99 | 50.24 | 6.47 | 6.57 | 8.84 | 9.30 |
| P/OCF | 2.46 | 2.59 | 3.01 | 2.90 | 4.94 | 28.99 | 50.24 | 6.47 | 6.57 | 8.84 | 9.30 |
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 | — | 3.00 | 3.16 | 3.60 | 3.66 | 5.11 | 6.34 | 4.33 | 3.52 | 4.09 | 3.96 |
| EV / EBITDA | 10.31 | 10.34 | 10.64 | 11.50 | 11.79 | 18.39 | 15.85 | 7.86 | 3.49 | 4.09 | 3.96 |
| EV / EBIT | 25.70 | 34.33 | 65.91 | 24.04 | 36.46 | — | 1090.43 | 24.35 | 21.14 | 22.60 | 21.29 |
| EV / FCF | — | 46.18 | 42.95 | 13.90 | 28.04 | 153.20 | 213.39 | 16.24 | 13.52 | 16.02 | 15.22 |
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 | 31.2% | 31.2% | 31.8% | 33.7% | 33.4% | 31.4% | 46.0% | 39.0% | 39.3% | 41.1% | 41.3% |
| Operating Margin | 11.6% | 11.6% | 10.1% | 10.8% | 9.5% | -4.7% | — | 36.6% | 17.2% | 17.5% | 18.9% |
| Net Profit Margin | -11.1% | -11.1% | -14.5% | -1.7% | -7.1% | -36.4% | -24.6% | 11.2% | 8.1% | 9.9% | 10.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -27.0% | -27.0% | -26.5% | -2.5% | -9.0% | -29.8% | -13.5% | 5.6% | 2.8% | 3.3% | 4.9% |
| ROA | -3.0% | -3.0% | -3.8% | -0.4% | -1.6% | -6.1% | -3.5% | 3.2% | 2.6% | 3.1% | 3.4% |
| ROIC | 2.6% | 2.6% | 2.2% | 2.2% | 1.8% | -0.7% | — | 6.5% | 2.7% | 2.9% | 3.8% |
| ROCE | 3.3% | 3.3% | 2.9% | 2.9% | 2.4% | -0.9% | — | 11.3% | 6.0% | 6.0% | 6.5% |
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 | 8.48 | 8.48 | 6.70 | 4.50 | 4.07 | 4.59 | 2.95 | 2.42 | 0.62 | 0.60 | 0.51 |
| Debt / EBITDA | 10.42 | 10.42 | 10.15 | 9.41 | 9.78 | 17.18 | 12.26 | 4.75 | 1.81 | 1.84 | 1.55 |
| Net Debt / Equity | — | 7.95 | 6.54 | 4.36 | 4.04 | 3.99 | 2.92 | 2.41 | 0.61 | 0.60 | 0.51 |
| Net Debt / EBITDA | 9.76 | 9.76 | 9.89 | 9.10 | 9.72 | 14.91 | 12.12 | 4.72 | 1.79 | 1.83 | 1.54 |
| Debt / FCF | — | 43.59 | 39.94 | 11.00 | 23.10 | 124.22 | 163.15 | 9.77 | 6.95 | 7.18 | 5.92 |
| Interest Coverage | 0.43 | 0.43 | 0.26 | 0.83 | 0.55 | -0.55 | 0.02 | 1.83 | 1.95 | 2.16 | 2.48 |
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 | 21.11 | 21.11 | 0.29 | 0.69 | 0.46 | 1.04 | 0.35 | 0.32 | 0.37 | 0.26 | 0.31 |
| Quick Ratio | 21.11 | 21.11 | 0.29 | 0.69 | 0.46 | 1.04 | 0.35 | 0.32 | 0.37 | 0.26 | 0.31 |
| Cash Ratio | 21.11 | 21.11 | 0.20 | 0.46 | 0.09 | 0.65 | 0.16 | 0.04 | 0.06 | 0.04 | 0.02 |
| Asset Turnover | — | 0.28 | 0.27 | 0.25 | 0.25 | 0.16 | 0.15 | 0.26 | 0.32 | 0.30 | 0.31 |
| 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 | 2.3% | 2.2% | 24.1% | 9.4% | 3.2% | 0.5% | 5.0% | 8.8% | 8.8% | 6.9% | 6.3% |
| Payout Ratio | — | — | — | — | — | — | — | 136.1% | 186.7% | 158.1% | 140.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | 6.5% | 4.7% | 4.2% | 4.1% |
| FCF Yield | 40.7% | 38.6% | 33.2% | 34.5% | 20.2% | 3.4% | 2.0% | 15.4% | 15.2% | 11.3% | 10.7% |
| Buyback Yield | 0.2% | 0.2% | 0.2% | 0.1% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 5.9% | 0.0% |
| Total Shareholder Yield | 2.5% | 2.4% | 24.3% | 9.5% | 3.2% | 0.5% | 5.0% | 8.9% | 8.9% | 12.9% | 6.4% |
| Shares Outstanding | — | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $33M | $31M |
Negative FFO and Leverage
Based on reported financial data, SVC's P/FFO multiple has compressed to 2.97x in 2026Q1, a significant decline from the 7.40x observed in 2023Q4, suggesting that the market is heavily discounting the REIT's future earnings potential amid persistent operational volatility and negative cash flow generation.
The current valuation multiples appear to reflect a deep skepticism regarding the company's ability to stabilize its hotel portfolio performance. Investors should monitor whether this discount is a temporary reaction to cyclical lodging headwinds or a structural re-rating due to the external management fee structure.
According to recent quarterly filings, the NOI margin collapsed to -10.6% in 2026Q1, representing a stark reversal from the 33.6% margin achieved in 2025Q2, which indicates that property-level operating expenses are currently outpacing revenue generation across the company's hotel and retail segments.
This margin erosion suggests that the fixed-cost nature of the hotel portfolio is becoming a significant liability during periods of revenue contraction. The inability to maintain positive property-level profitability warrants further investigation into whether current management agreements are adequately protecting the REIT from inflationary labor and utility costs.
As reported in financial statements, the debt-to-equity ratio reached 8.48x by 2025Q4, a substantial increase from the 4.50x recorded in 2023Q4, which highlights a deteriorating balance sheet profile that limits the company's capacity to navigate high-interest-rate environments or fund necessary capital improvements.
The rising leverage profile appears to be a direct consequence of portfolio contraction and the need to bridge operational cash flow deficits. Investors should monitor the company's interest coverage ratio, which has struggled to remain positive, as it may indicate an increasing risk of covenant breaches or refinancing difficulties.
The most commonly misapplied metric for SVC is the standard P/E ratio, which, as evidenced by the -1.40x TTM figure, fails to account for the heavy non-cash depreciation charges inherent in hotel real estate and obscures the REIT's actual cash-generating capacity.
Using P/E for a REIT like SVC is deeply misleading because it treats depreciation as a cash expense, thereby masking the underlying operational performance. Analysts should instead prioritize FFO and AFFO, which provide a more accurate representation of the cash available for distributions and capital reinvestment.
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 SVC stock.
Service Properties Trust's current P/E ratio is -1.4x. The historical average is 18.9x.
Service Properties Trust's current EV/EBITDA is 10.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.7x.
Service Properties Trust's return on equity (ROE) is -27.0%. The historical average is 2.0%.
Based on historical data, Service Properties Trust is trading at a P/E of -1.4x. Compare with industry peers and growth rates for a complete picture.
Service Properties Trust's current dividend yield is 2.31%.
Service Properties Trust has 31.2% gross margin and 11.6% operating margin. Operating margin between 10-20% is typical for established companies.
Service Properties Trust's Debt/EBITDA ratio is 10.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.