30 years of historical data (1995–2024) · Real Estate · REIT - Retail
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Saul Centers, Inc. trades at 20.9x earnings, 20% below its 5-year average of 26.1x, sitting at the 13th percentile of its historical range. Compared to the Real Estate sector median P/E of 23.4x, the stock trades at a discount of 11%. On a free-cash-flow basis, the stock trades at 6.9x P/FCF, 11% below the 5-year average of 7.8x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $835M | $937M | $945M | $975M | $1.3B | $740M | $1.2B | $1.1B | $1.4B | $1.4B | $1.1B |
| Enterprise Value | $2.4B | $2.5B | $2.3B | $2.2B | $2.4B | $1.9B | $2.3B | $2.1B | $2.3B | $2.3B | $2.0B |
| P/E Ratio → | 20.91 | 23.80 | 22.70 | 24.96 | 33.77 | 25.34 | 23.56 | 20.99 | 37.88 | 43.82 | 36.11 |
| P/S Ratio | 3.10 | 3.48 | 3.67 | 3.97 | 5.24 | 3.29 | 5.26 | 4.65 | 5.98 | 6.63 | 5.20 |
| P/B Ratio | 1.64 | 1.87 | 1.87 | 1.87 | 2.36 | 1.73 | 2.74 | 2.49 | 3.46 | 3.86 | 3.07 |
| P/FCF | 6.89 | 7.73 | 8.02 | 6.96 | 10.60 | 5.50 | 10.55 | 9.60 | 13.14 | 16.16 | 12.22 |
| P/OCF | 6.89 | 7.73 | 8.02 | 8.05 | 10.60 | 9.44 | 10.55 | 9.60 | 13.14 | 16.16 | 12.22 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
Saul Centers, Inc.'s enterprise value stands at 13.7x EBITDA, 18% below its 5-year average of 16.8x. This is roughly in line with the Real Estate sector median of 13.6x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.15 | 9.03 | 8.89 | 9.96 | 8.28 | 9.91 | 9.07 | 10.15 | 10.74 | 9.34 |
| EV / EBITDA | 13.73 | 14.32 | 10.80 | 19.10 | 21.30 | 18.38 | 11.87 | 11.28 | 10.25 | 10.80 | 20.29 |
| EV / EBIT | 19.44 | 20.29 | 19.66 | 20.34 | 22.62 | 19.54 | 21.55 | 19.40 | 21.66 | 23.07 | 20.19 |
| EV / FCF | — | 20.28 | 19.73 | 15.59 | 20.14 | 13.85 | 19.88 | 18.73 | 22.30 | 26.17 | 21.96 |
Margins and return-on-capital ratios measuring operating efficiency
Saul Centers, Inc. earns an operating margin of 45.1%, significantly above the Real Estate sector average of 22.0%. Operating margins have expanded from 26.6% to 45.1% over the past 3 years, signaling improving operational efficiency. ROE of 10.1% is modest. ROIC of 4.7% represents below-average returns on invested capital.
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 | 73.2% | 73.2% | 73.9% | 73.8% | 74.2% | 74.1% | 75.0% | 75.6% | 75.9% | 75.9% | 76.0% |
| Operating Margin | 45.1% | 45.1% | 64.8% | 26.6% | 25.8% | 22.3% | 66.0% | 27.4% | 26.7% | 25.7% | 25.3% |
| Net Profit Margin | 18.8% | 18.8% | 20.5% | 20.4% | 20.2% | 17.9% | 22.3% | 22.2% | 21.2% | 20.9% | 20.3% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.1% | 10.1% | 10.3% | 9.5% | 10.1% | 9.3% | 11.9% | 12.4% | 12.6% | 12.5% | 12.3% |
| ROA | 2.5% | 2.5% | 2.8% | 2.8% | 2.9% | 2.5% | 3.3% | 3.4% | 3.5% | 3.4% | 3.3% |
| ROIC | 4.7% | 4.7% | 6.9% | 2.9% | 2.9% | 2.5% | 7.8% | 3.4% | 3.5% | 3.4% | 3.3% |
| ROCE | 6.9% | 6.9% | 10.3% | 4.1% | 4.0% | 3.4% | 10.5% | 4.5% | 4.7% | 4.5% | 4.4% |
Solvency and debt-coverage ratios — lower is generally safer
Saul Centers, Inc. carries a Debt/EBITDA ratio of 8.9x, which is highly leveraged (33% above the sector average of 6.7x). Net debt stands at $1.5B ($1.5B total debt minus $10M cash). Interest coverage of just 2.3x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.06 | 3.06 | 2.75 | 2.34 | 2.16 | 2.69 | 2.46 | 2.40 | 2.44 | 2.41 | 2.47 |
| Debt / EBITDA | 8.93 | 8.93 | 6.45 | 10.69 | 10.22 | 11.35 | 5.64 | 5.58 | 4.26 | 4.17 | 9.10 |
| Net Debt / Equity | — | 3.04 | 2.73 | 2.32 | 2.13 | 2.63 | 2.43 | 2.37 | 2.41 | 2.39 | 2.45 |
| Net Debt / EBITDA | 8.87 | 8.87 | 6.41 | 10.58 | 10.09 | 11.08 | 5.57 | 5.50 | 4.21 | 4.13 | 8.99 |
| Debt / FCF | — | 12.56 | 11.71 | 8.63 | 9.54 | 8.35 | 9.34 | 9.13 | 9.16 | 10.01 | 9.73 |
| Interest Coverage | 2.26 | 2.26 | 3.53 | 1.49 | 1.36 | — | 3.65 | 1.39 | 1.28 | 1.22 | 1.17 |
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.24x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.31x to 0.24x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.24 | 0.24 | 0.18 | 0.31 | 0.49 | 0.62 | 0.51 | 0.76 | 0.69 | 0.76 | 0.93 |
| Quick Ratio | 0.24 | 0.24 | 0.18 | 0.31 | 0.49 | 0.62 | 0.51 | 0.76 | 0.69 | 0.76 | 0.93 |
| Cash Ratio | 0.04 | 0.04 | 0.02 | 0.06 | 0.10 | 0.18 | 0.10 | 0.15 | 0.11 | 0.10 | 0.14 |
| Asset Turnover | — | 0.13 | 0.13 | 0.13 | 0.14 | 0.14 | 0.14 | 0.15 | 0.16 | 0.16 | 0.16 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Saul Centers, Inc. returns 6.9% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 112.3%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 4.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
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 | 6.9% | 6.1% | 6.0% | 5.7% | 4.1% | 6.7% | 4.0% | 4.4% | 3.3% | 2.7% | 3.3% |
| Payout Ratio | 112.3% | 112.3% | 107.7% | 110.6% | 105.3% | 122.3% | 93.9% | 91.6% | 92.4% | 87.2% | 83.9% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.8% | 4.2% | 4.4% | 4.0% | 3.0% | 3.9% | 4.2% | 4.8% | 2.6% | 2.3% | 2.8% |
| FCF Yield | 14.5% | 12.9% | 12.5% | 14.4% | 9.4% | 18.2% | 9.5% | 10.4% | 7.6% | 6.2% | 8.2% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 7.1% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 6.9% | 6.1% | 6.0% | 5.7% | 4.1% | 6.7% | 4.0% | 11.5% | 3.3% | 2.7% | 3.3% |
| Shares Outstanding | — | $24M | $24M | $24M | $24M | $23M | $23M | $22M | $22M | $22M | $21M |
Compare BFS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| BFSYou | $835M | 20.9 | 13.7 | 6.9 | 73.2% | 45.1% | 10.1% | 4.7% | 8.9 |
| KIM | $16B | 42.8 | 19.4 | 23.5 | 68.7% | 30.9% | 4.0% | 2.7% | 7.0 |
| REG | $14B | 37.4 | 14.4 | 18.2 | 71.2% | 64.4% | 5.7% | 6.1% | 3.7 |
| BRX | $9B | 24.2 | 9.9 | 14.2 | 87.0% | 35.2% | 12.9% | 6.8% | — |
| KRG | $5B | 18.9 | 15.3 | 19.6 | 53.3% | 23.1% | 9.0% | 2.3% | 5.9 |
| PECO | $5B | 77.0 | 10.6 | 20.6 | 71.2% | 64.3% | 2.4% | 6.7% | 3.2 |
| CURB | $3B | 75.2 | 31.0 | 27.3 | 35.7% | 16.6% | 2.1% | 1.3% | 5.4 |
| IVT | $2B | 22.0 | 18.6 | 15.6 | -14.1% | 17.2% | 6.3% | 1.5% | 5.4 |
| WSR | $770M | -63.3 | 15.7 | 15.2 | 68.8% | 33.3% | 11.0% | 3.7% | 7.2 |
| SITC | $323M | 1.8 | 0.9 | 16.5 | — | 171.7% | 41.8% | 27.2% | — |
| CDR-PB | $260M | 135.3 | 17.0 | — | 61.4% | 39.5% | 7.0% | 5.3% | 6.4 |
| Real Estate Median | — | 23.4 | 13.6 | 13.7 | 60.4% | 22.0% | 3.3% | 2.6% | 6.7 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonSaul Centers, Inc.'s current P/E ratio is 20.9x. The historical average is 33.5x. This places it at the 13th percentile of its historical range.
Saul Centers, Inc.'s current EV/EBITDA is 13.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.7x.
Saul Centers, Inc.'s return on equity (ROE) is 10.1%. The historical average is 16.5%.
Based on historical data, Saul Centers, Inc. is trading at a P/E of 20.9x. This is at the 13th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Saul Centers, Inc.'s current dividend yield is 6.92% with a payout ratio of 112.3%.
Saul Centers, Inc. has 73.2% gross margin and 45.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Saul Centers, Inc.'s Debt/EBITDA ratio is 8.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.