Latest Ratios: P/E Ratio 23.7x · EV/EBITDA 23.1x · ROE 6.0%. (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 | $1.8B | $1.5B | $1.7B | $1.6B | $1.5B | $1.7B | $1.1B | $2.3B | $2.0B | $2.2B | $2.9B |
| Enterprise Value | $3.1B | $2.9B | $3.4B | $3.4B | $3.3B | $4.0B | $3.9B | $5.1B | $4.7B | $5.0B | $5.2B |
| P/E Ratio → | 23.74 | 18.60 | — | — | — | — | — | 264.04 | 23.32 | 359.33 | 22.32 |
| P/S Ratio | 6.18 | 5.28 | 6.22 | 6.09 | 6.21 | 5.16 | 3.60 | 6.52 | 5.40 | 3.52 | 4.75 |
| P/B Ratio | 1.52 | 1.19 | 1.36 | 1.22 | 0.76 | 0.85 | 0.54 | 1.06 | 0.97 | 1.15 | 1.69 |
| P/FCF | 32.42 | 27.71 | 36.35 | 35.08 | — | — | — | — | — | — | — |
| P/OCF | 20.64 | 17.64 | 26.04 | 27.53 | 21.83 | 29.75 | 13.22 | 17.66 | 11.81 | 11.07 | 29.13 |
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 | — | 9.97 | 12.36 | 13.14 | 14.27 | 12.45 | 12.49 | 14.38 | 12.95 | 8.04 | 8.52 |
| EV / EBITDA | 23.11 | 21.20 | 28.07 | 33.89 | 53.22 | 37.30 | 39.76 | 31.30 | 27.91 | 15.95 | 17.00 |
| EV / EBIT | 63.47 | 17.64 | 55.62 | 156.61 | 121.06 | — | — | 17.70 | 27.10 | 41.23 | 25.53 |
| EV / FCF | — | 52.32 | 72.25 | 75.63 | — | — | — | — | — | — | — |
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 | 1.3% | 1.3% | -2.0% | -7.5% | -20.9% | -13.2% | -22.9% | -48.4% | -4.1% | -7.9% | -4.4% |
| Operating Margin | 17.1% | 17.1% | 13.5% | 5.6% | -9.8% | -0.6% | -7.5% | -7.4% | 15.7% | 17.1% | 19.7% |
| Net Profit Margin | 26.1% | 26.1% | -8.4% | -42.6% | -24.6% | -39.1% | -17.6% | 5.2% | 28.3% | 0.8% | 19.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.0% | 6.0% | -1.8% | -6.9% | -3.0% | -6.2% | -2.6% | 0.9% | 5.3% | 0.3% | 6.9% |
| ROA | 2.6% | 2.6% | -0.7% | -3.1% | -1.4% | -2.6% | -1.1% | 0.4% | 2.1% | 0.1% | 2.8% |
| ROIC | 1.3% | 1.3% | 0.9% | 0.3% | -0.4% | -0.0% | -0.4% | -0.4% | 0.9% | 1.8% | 2.3% |
| ROCE | 2.0% | 2.0% | 1.3% | 0.4% | -0.6% | -0.0% | -0.5% | -0.6% | 1.5% | 2.9% | 3.4% |
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 | 1.07 | 1.07 | 1.35 | 1.43 | 1.00 | 1.21 | 1.34 | 1.29 | 1.38 | 1.49 | 1.36 |
| Debt / EBITDA | 10.07 | 10.07 | 14.01 | 18.45 | 30.47 | 22.13 | 28.68 | 17.26 | 16.46 | 9.05 | 7.61 |
| Net Debt / Equity | — | 1.06 | 1.34 | 1.41 | 0.98 | 1.20 | 1.32 | 1.27 | 1.36 | 1.48 | 1.34 |
| Net Debt / EBITDA | 9.97 | 9.97 | 13.95 | 18.17 | 30.04 | 21.83 | 28.29 | 17.10 | 16.28 | 8.96 | 7.51 |
| Debt / FCF | — | 24.61 | 35.90 | 40.55 | — | — | — | — | — | — | — |
| Interest Coverage | 1.84 | 1.84 | 0.68 | 0.16 | 0.41 | -1.83 | -0.43 | 3.20 | 2.25 | 1.42 | 2.16 |
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 | 0.08 | 0.08 | 0.08 | 0.42 | 1.28 | 2.37 | 4.56 | 5.39 | 0.26 | 0.32 | 0.27 |
| Quick Ratio | 0.08 | 0.08 | 0.07 | 0.42 | 1.28 | 0.41 | 4.56 | 5.39 | 0.15 | 0.16 | 0.23 |
| Cash Ratio | 6.28 | 6.28 | 0.02 | 0.08 | 0.10 | 0.10 | 0.21 | 0.12 | 0.03 | 0.03 | 0.04 |
| Asset Turnover | — | 0.11 | 0.09 | 0.08 | 0.06 | 0.07 | 0.06 | 0.07 | 0.07 | 0.12 | 0.14 |
| Inventory Turnover | — | — | 37.94 | — | — | 0.59 | — | — | 3.50 | 3.88 | 16.12 |
| 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 | 1.7% | 2.2% | 1.4% | 0.3% | 0.0% | 0.0% | 5.4% | 3.5% | 4.1% | 3.6% | 2.1% |
| Payout Ratio | 43.9% | 43.9% | — | — | — | — | — | 432.3% | 77.8% | 1486.9% | 51.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.2% | 5.4% | — | — | — | — | — | 0.4% | 4.3% | 0.3% | 4.5% |
| FCF Yield | 3.1% | 3.6% | 2.8% | 2.9% | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.1% | 0.2% | 0.3% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.7% | 2.2% | 1.4% | 0.3% | 0.2% | 0.1% | 5.6% | 3.8% | 4.1% | 3.6% | 2.1% |
| Shares Outstanding | — | $102M | $101M | $101M | $91M | $91M | $91M | $101M | $101M | $101M | $100M |
Geographic concentration in NJ
According to recent market data, VRE trades at a P/FFO multiple of 12.23x as of 2026Q1, which appears to reflect a persistent transformation discount compared to diversified coastal multifamily peers that typically command higher premiums due to their stabilized operational history and broader geographic footprints.
The current valuation suggests that the market remains skeptical of the company's pivot from a legacy office-heavy entity to a pure-play residential REIT. Investors should monitor whether the compression of this valuation gap occurs as the remaining non-core assets are liquidated and the residential portfolio achieves a more consistent earnings profile.
Based on reported financial figures, NOI margins have exhibited extreme instability, swinging from a negative 7.0% in 2023Q4 to a peak of 88.9% in 2026Q1, which suggests that property-level profitability is heavily influenced by non-recurring accounting adjustments rather than organic rent growth.
This volatility makes it difficult to ascertain the true operational efficiency of the residential portfolio. Analysts should look past these headline figures to determine if the underlying property-level margins are actually expanding as the company sheds its legacy office assets.
As reported in quarterly filings, the FFO payout ratio reached 151.8% in 2026Q1, indicating that the current dividend distribution is not supported by recurring funds from operations and likely relies on capital recycling or balance sheet liquidity to maintain the payout to shareholders.
The inability of AFFO to consistently cover the dividend suggests a strained cash flow position that warrants further investigation by income-focused investors. The reliance on non-operating cash to fund distributions may indicate that management is prioritizing capital return over the retention of cash for necessary property-level reinvestment.
According to recent SEC filings, the company's debt-to-equity ratio has fluctuated between 1.07 and 1.46 over the last ten quarters, reflecting a complex deleveraging process as the firm utilizes proceeds from asset dispositions to pay down debt and reposition its capital structure.
While the reported leverage appears moderate, the presence of significant cash reserves suggests that the company is currently in a transitional liquidity phase. Investors should monitor the interest coverage ratio, which remains low at 0.12x, as it may indicate vulnerability to refinancing risks in the current interest rate environment.
The most commonly misapplied metric for VRE is the standard P/E ratio, which, as reported in financial statements, fails to account for the significant non-cash depreciation charges inherent in real estate ownership that distort the company's true earnings power.
Using P/E obscures the actual cash-generating capacity of the multifamily portfolio by penalizing the company for the accounting treatment of its assets. Analysts should instead utilize P/FFO or P/AFFO to normalize these distortions and gain a more accurate understanding of the REIT's valuation relative to its peers.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
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 VRE stock.
Veris Residential, Inc.'s current P/E ratio is 23.7x. The historical average is 27.1x. This places it at the 60th percentile of its historical range.
Veris Residential, Inc.'s current EV/EBITDA is 23.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.0x.
Veris Residential, Inc.'s return on equity (ROE) is 6.0%. The historical average is 2.3%.
Based on historical data, Veris Residential, Inc. is trading at a P/E of 23.7x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Veris Residential, Inc.'s current dividend yield is 1.70% with a payout ratio of 43.9%.
Veris Residential, Inc. has 1.3% gross margin and 17.1% operating margin. Operating margin between 10-20% is typical for established companies.
Veris Residential, Inc.'s Debt/EBITDA ratio is 10.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.