Latest Ratios: P/E Ratio -15.9x · EV/EBITDA 21.5x · ROE -6.3%. (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 | $236M | $265M | $320M | $334M | $351M | $410M | $260M | $274M | $178M | $178M | $150M |
| Enterprise Value | $720M | $748M | $776M | $770M | $790M | $615M | $408M | $422M | $980M | $980M | $1.6B |
| P/E Ratio → | -15.95 | — | — | 116.19 | 7.38 | 14.81 | — | 169.70 | 7.48 | 7.48 | 11.05 |
| P/S Ratio | 2.38 | 2.73 | 3.35 | 3.56 | 4.97 | 12.79 | 9.26 | 9.88 | 1.49 | 1.49 | 1.42 |
| P/B Ratio | 1.28 | 1.49 | 1.56 | 1.46 | 1.40 | 2.02 | 1.46 | 1.37 | 0.60 | 0.60 | 0.63 |
| P/FCF | 16.85 | 39.84 | 17.79 | 33.49 | 40.16 | — | — | 38.81 | 8.16 | 8.16 | 39.62 |
| P/OCF | 16.77 | 18.78 | 13.26 | 17.02 | 23.34 | — | — | 31.72 | 4.61 | 4.61 | 11.48 |
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 | — | 7.71 | 8.11 | 8.22 | 11.21 | 19.17 | 14.51 | 15.20 | 8.19 | 8.19 | 14.85 |
| EV / EBITDA | 21.51 | 19.99 | 21.43 | 21.17 | 31.22 | 117.41 | 101.34 | 79.04 | 18.58 | 18.58 | 92.80 |
| EV / EBIT | 65.32 | 62.80 | 60.93 | 29.34 | 11.90 | 16.97 | — | 43.23 | 11.89 | 11.89 | 24.03 |
| EV / FCF | — | 112.54 | 43.12 | 77.26 | 90.52 | — | — | 59.69 | 44.92 | 44.92 | 414.07 |
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 | 0.2% | 0.2% | 54.5% | 55.3% | 56.7% | 55.7% | 56.0% | 55.6% | 51.8% | 51.8% | 51.5% |
| Operating Margin | 11.4% | 11.4% | 10.8% | 8.4% | 0.7% | -8.7% | -9.7% | -2.1% | 11.9% | 11.9% | -12.8% |
| Net Profit Margin | -12.3% | -12.3% | -10.2% | 4.1% | 70.8% | 90.8% | -70.7% | 3.1% | 19.9% | 19.9% | 12.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -6.3% | -6.3% | -4.5% | 1.6% | 22.1% | 15.3% | -10.5% | 0.3% | 8.9% | 8.9% | 6.2% |
| ROA | -1.7% | -1.7% | -1.4% | 0.5% | 8.4% | 7.1% | -5.3% | 0.1% | 2.2% | 2.2% | 1.5% |
| ROIC | 1.3% | 1.3% | 1.2% | 0.9% | 0.1% | -0.6% | -0.6% | -0.1% | 0.8% | 0.8% | -0.8% |
| ROCE | 1.6% | 1.6% | 1.5% | 1.1% | 0.1% | -0.7% | -0.8% | -0.1% | 1.4% | 1.4% | -1.5% |
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 | 2.87 | 2.87 | 2.36 | 2.01 | 1.84 | 1.17 | 0.94 | 0.85 | 2.80 | 2.80 | 6.05 |
| Debt / EBITDA | 13.59 | 13.59 | 13.36 | 12.64 | 18.17 | 45.28 | 41.63 | 31.90 | 15.72 | 15.72 | 84.65 |
| Net Debt / Equity | — | 2.73 | 2.22 | 1.91 | 1.76 | 1.01 | 0.83 | 0.74 | 2.71 | 2.71 | 6.00 |
| Net Debt / EBITDA | 12.91 | 12.91 | 12.59 | 11.99 | 17.37 | 39.10 | 36.69 | 27.65 | 15.20 | 15.20 | 83.92 |
| Debt / FCF | — | 72.71 | 25.33 | 43.77 | 50.36 | — | — | 20.88 | 36.76 | 36.76 | 374.45 |
| Interest Coverage | 0.51 | 0.51 | 0.56 | 1.18 | 4.28 | 5.36 | -1.74 | 1.25 | 2.40 | 2.40 | 2.32 |
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 | 0.86 | 0.86 | 1.96 | 1.10 | 0.51 | 2.21 | 1.40 | 1.76 | 2.84 | 2.84 | 1.48 |
| Quick Ratio | 0.86 | 0.86 | 1.96 | 1.10 | 0.51 | 2.21 | 1.40 | 1.76 | 2.84 | 2.84 | 1.48 |
| Cash Ratio | 0.79 | 0.79 | 1.12 | 1.07 | 0.49 | 1.65 | 0.97 | 1.09 | 1.00 | 1.00 | 0.55 |
| Asset Turnover | — | 0.14 | 0.13 | 0.13 | 0.10 | 0.07 | 0.08 | 0.07 | 0.10 | 0.10 | 0.11 |
| 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 | 8.4% | 7.1% | 5.8% | 5.7% | 5.1% | 3.8% | 5.8% | 4.9% | 6.8% | 6.8% | 1.5% |
| Payout Ratio | — | — | — | 488.2% | 35.8% | 54.2% | — | 1573.4% | 50.8% | 50.8% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 0.9% | 13.5% | 6.8% | — | 0.6% | 13.4% | 13.4% | 9.0% |
| FCF Yield | 5.9% | 2.5% | 5.6% | 3.0% | 2.5% | — | — | 2.6% | 12.3% | 12.3% | 2.5% |
| Buyback Yield | 2.1% | 1.9% | 1.1% | 4.3% | 0.0% | 0.0% | 0.2% | 0.0% | 0.1% | 0.1% | 0.1% |
| Total Shareholder Yield | 10.5% | 9.0% | 6.9% | 10.0% | 5.1% | 3.8% | 6.0% | 4.9% | 6.9% | 6.9% | 1.7% |
| Shares Outstanding | — | $18M | $18M | $18M | $18M | $17M | $17M | $16M | $15M | $15M | $14M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying BRT stock.
BRT Apartments Corp.'s current P/E ratio is -15.9x. The historical average is 22.2x.
BRT Apartments Corp.'s current EV/EBITDA is 21.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.7x.
BRT Apartments Corp.'s return on equity (ROE) is -6.3%. The historical average is 5.8%.
Based on historical data, BRT Apartments Corp. is trading at a P/E of -15.9x. Compare with industry peers and growth rates for a complete picture.
BRT Apartments Corp.'s current dividend yield is 8.35%.
BRT Apartments Corp. has 0.2% gross margin and 11.4% operating margin. Operating margin between 10-20% is typical for established companies.
BRT Apartments Corp.'s Debt/EBITDA ratio is 13.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Leverage compounding amid FFO decline
Metrics are mathematically derived from official filings.
P/FFO Compression Signals Market Skepticism
BRT's P/FFO multiple has compressed from 12.52x in early 2024 to 8.92x in 2026Q2, a 29% contraction that suggests the market is pricing in deteriorating cash flow durability rather than offering a value opportunity, per recent SEC filings.
The P/FFO decline from 12.52x to 8.92x over ten quarters appears to track the persistent FFO per share deterioration from $0.25 to $0.19, implying the multiple compression is fundamentally driven rather than sentiment-based. With a current dividend yield of 8.1% — roughly five times the historical 1.5–1.7% range observed across 2024–2025 — the elevated yield more likely reflects a falling price floor than any income expansion, as distributions per share have not meaningfully increased. Notably, the P/B ratio of 1.32x sits at a premium to several peers including IRT at 0.97x and IIPR at 0.81x, despite BRT's negative ROE across every reported quarter, which appears inconsistent with the quality of its earnings profile.
AFFO Shortfall Undermines Distribution Viability
BRT's FFO payout ratio reached 134.6% in 2026Q2 while AFFO per share of $0.08 trailed the implied quarterly distribution, confirming that dividends are being funded at least partly by external capital rather than organic cash generation, as disclosed in BRT's financial statements.
The cumulative AFFO of approximately $13.8M over six reported quarters against cumulative dividends of roughly $28.3M implies a funding gap of about $14.5M, which is being absorbed by balance sheet drawdowns or asset dispositions rather than property-level cash flow. This shortfall is not a one-quarter anomaly — the FFO payout ratio exceeded 100% in seven of ten reported quarters, indicating a structural rather than cyclical coverage problem. The FFO payout of 134.6% paired with an AFFO payout even further above 100% suggests maintenance capex and recurring capital demands are absorbing a materially larger share of FFO than headline metrics might imply, warranting investor scrutiny of the distribution's long-term viability.
Debt-to-Equity Erosion Accelerates Risk
BRT's debt-to-equity ratio has climbed from 2.08x in 2024Q1 to 3.17x in 2026Q2 as total debt expanded to $508.5M while equity contracted to $160.5M, a trajectory that, per BRT's balance sheet data, appears to be compounding the risk profile of an already thinly capitalized balance sheet.
Interest coverage has remained consistently below 1.0x across all ten quarters, bottoming at 0.32x in 2025Q4 and reaching only 0.48x in 2026Q2, which suggests that reported EBITDA is insufficient to cover contractual interest obligations — a situation that typically necessitates asset sales, refinancing, or equity issuance to service debt. The simultaneous contraction of total assets from $717.7M to $691.2M alongside a $49.5M increase in borrowings implies the leverage ratio is worsening through both the numerator and denominator rather than being offset by asset growth. Compared to IRT at 0.64x D/E and IIPR at 0.21x, BRT's 3.17x leverage appears extreme for a residential REIT, suggesting meaningful refinancing risk if credit conditions tighten or property values decline.
NOI Margin Collapse Signals Property Stress
BRT's NOI margin inverted from 56.8% in 2025Q4 to -1.3% in 2026Q2 despite relatively stable revenue near $24.5M, an abrupt reversal that, per recent SEC filings, suggests significant property-level cost escalation or impairment charges that warrant immediate examination.
The swing from a consistently healthy 53–56% NOI margin across 2024–2025 to negative territory in 2026Q2 cannot be explained by normal seasonal variation or rent softness alone, as revenue remained broadly stable throughout the period. This pattern appears to reflect either concentrated operating expense deterioration, large-scale maintenance capital expenditures, or property-level impairments being recognized. Coupled with the lean capex spending of $0–$2.1M per quarter over the ten-quarter period, there is a possibility that deferred maintenance is now surfacing as accelerated operating costs, a dynamic that would compound the already-negative return on equity of -2.0% in 2026Q2.
P/E Distortion Obscures True REIT Economics
BRT's TTM P/E of -19.64x is analytically meaningless for a REIT carrying substantial depreciation charges that depress GAAP earnings, making FFO and AFFO payout ratios the only defensible lenses through which to assess distributable value and dividend sustainability.
GAAP net losses of $2.1M–$4.3M per quarter alongside positive FFO of $3.3M–$4.5M confirm that depreciation and amortization — not operating deterioration — is the primary wedge between accounting and cash results, rendering the negative P/E figure an artifact rather than a valuation signal. The more appropriate metric, P/AFFO, is not provided in the current data but can be estimated: with AFFO per share of $0.08 and a price of $12.96, the implied P/AFFO is approximately 162x — a staggering figure that, if accurate, suggests the stock is extraordinarily expensive on a cash-distributable basis despite appearing cheap at 8.92x P/FFO. This divergence between P/FFO and P/AFFO underscores why analysts must adjust reported FFO for maintenance capital expenditures, as BRT's capitalized leasing costs and recurring property outlays are clearly material to the economics.