City Office REIT, Inc. (CIO) Financial Ratios
14 years of historical data (2011–2024) · Real Estate · REIT - Office
EV/EBITDA
↑
11.67
↑+35% vs avg
5yr avg: 8.63
30Y Low6.8·High18.6
P/FCF
↓
4.79
↓-29% vs avg
5yr avg: 6.79
30Y Low3.7·High13.4
P/B Ratio
↓
0.38
↓-40% vs avg
5yr avg: 0.63
30Y Low0.3·High2.1
ROE
↑
-2.3%
↑-117% vs avg
5yr avg: 14.2%
30Y Low-25%·High75%
Debt/EBITDA
↑
8.29
↑+45% vs avg
5yr avg: 5.71
30Y Low3.9·High13.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CIO Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
City Office REIT, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 4.8x P/FCF, 29% below the 5-year average of 6.8x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $282M | $222M | $244M | $359M | $871M | $461M | $595M | $386M | $393M | $269M | $151M |
| Enterprise Value | $910M | $850M | $883M | $1.2B | $1.5B | $1.1B | $1.1B | $1.0B | $870M | $626M | $488M |
| P/E Ratio → | -11.10 | — | — | 14.20 | 1.83 | — | — | 10.15 | — | — | — |
| P/S Ratio | 1.65 | 1.29 | 1.36 | 1.99 | 5.31 | 2.87 | 3.81 | 2.98 | 3.69 | 3.72 | 2.75 |
| P/B Ratio | 0.38 | 0.30 | 0.32 | 0.45 | 1.00 | 1.10 | 1.08 | 0.97 | 1.09 | 1.05 | 2.05 |
| P/FCF | 4.79 | 3.76 | 4.26 | 3.70 | 13.39 | 8.85 | 13.05 | 10.12 | — | — | — |
| P/OCF | 4.79 | 3.76 | 4.26 | 3.37 | 11.89 | 7.70 | 12.02 | 9.15 | 10.75 | 14.07 | 10.67 |
P/E links to full P/E history page with 30-year chart
CIO EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
City Office REIT, Inc.'s enterprise value stands at 11.7x EBITDA, 35% above its 5-year average of 8.6x. The Real Estate sector median is 17.0x, placing the stock at a 31% discount on an enterprise-value basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.97 | 4.93 | 6.77 | 9.16 | 6.92 | 7.24 | 7.84 | 8.17 | 8.64 | 8.86 |
| EV / EBITDA | 11.67 | 10.89 | 9.37 | 6.81 | 9.16 | 6.92 | 7.24 | 8.06 | 8.17 | 8.64 | 18.65 |
| EV / EBIT | 48.72 | 53.66 | 29.60 | 28.11 | 45.23 | 35.35 | 36.70 | 16.65 | 31.21 | 44.13 | 165.88 |
| EV / FCF | — | 14.43 | 15.44 | 12.58 | 23.11 | 21.36 | 24.84 | 26.62 | — | — | — |
CIO Profitability
Margins and return-on-capital ratios measuring operating efficiency
City Office REIT, Inc. earns an operating margin of 10.9%, below the Real Estate sector average of 24.8%. Operating margins have compressed from 19.5% to 10.9% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -2.3% indicates the company is currently destroying shareholder equity. ROIC of 1.0% represents below-average returns on invested capital.
Margins
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 | 59.4% | 59.4% | 60.9% | 62.5% | 64.6% | 63.7% | 63.3% | 61.5% | 59.7% | 60.9% | 62.9% |
| Operating Margin | 10.9% | 10.9% | 17.5% | 19.5% | 20.3% | 19.6% | 18.4% | 12.1% | 14.3% | -0.4% | 8.2% |
| Net Profit Margin | -10.3% | -10.3% | -1.5% | 14.0% | 295.3% | -13.6% | -17.0% | 29.5% | 5.4% | -1.2% | -12.0% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.3% | -2.3% | -0.3% | 3.0% | 75.2% | -4.5% | -5.6% | 10.1% | 1.9% | -0.5% | -8.0% |
| ROA | -1.2% | -1.2% | -0.2% | 1.6% | 35.1% | -1.8% | -2.3% | 3.8% | 0.7% | -0.2% | -1.8% |
| ROIC | 1.0% | 1.0% | 1.5% | 1.7% | 1.9% | 2.2% | 2.0% | 1.3% | 1.6% | -0.0% | 1.0% |
| ROCE | 1.5% | 1.5% | 2.2% | 2.3% | 2.5% | 2.8% | 2.6% | 1.6% | 2.0% | -0.1% | 1.3% |
CIO Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
City Office REIT, Inc. carries a Debt/EBITDA ratio of 8.3x, which is highly leveraged (roughly in line with the sector average of 7.9x). Net debt stands at $628M ($647M total debt minus $19M cash). Interest coverage of just 0.5x 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 | 0.88 | 0.88 | 0.87 | 1.11 | 0.75 | 1.62 | 1.11 | 1.62 | 1.36 | 1.45 | 4.68 |
| Debt / EBITDA | 8.29 | 8.29 | 7.10 | 4.97 | 3.98 | 4.21 | 3.89 | 5.12 | 4.60 | 5.11 | 13.18 |
| Net Debt / Equity | — | 0.86 | 0.83 | 1.07 | 0.73 | 1.56 | 0.98 | 1.58 | 1.33 | 1.39 | 4.57 |
| Net Debt / EBITDA | 8.05 | 8.05 | 6.78 | 4.81 | 3.85 | 4.05 | 3.44 | 4.99 | 4.48 | 4.92 | 12.87 |
| Debt / FCF | — | 10.67 | 11.17 | 8.88 | 9.72 | 12.51 | 11.79 | 16.50 | — | — | — |
| Interest Coverage | 0.48 | 0.48 | 0.94 | 1.69 | 1.43 | 1.19 | 1.09 | — | — | — | — |
CIO Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.32x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 1.98x to 0.32x 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 | 0.32 | 0.32 | 0.70 | 1.98 | 1.88 | 1.15 | 3.50 | 1.84 | 2.73 | 1.90 | 2.61 |
| Quick Ratio | 0.32 | 0.32 | 0.70 | 1.98 | 1.88 | 1.15 | 3.50 | 1.84 | 2.73 | 1.90 | 2.61 |
| Cash Ratio | 0.06 | 0.06 | 0.22 | 0.63 | 0.55 | 0.23 | 1.98 | 0.37 | 0.35 | 0.53 | 0.54 |
| Asset Turnover | — | 0.12 | 0.12 | 0.11 | 0.10 | 0.14 | 0.13 | 0.12 | 0.12 | 0.11 | 0.12 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
CIO Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
City Office REIT, Inc. returns 8.4% to shareholders annually primarily through dividends.
Dividends
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 | 8.4% | 10.6% | 12.8% | 11.5% | 3.8% | 8.9% | 8.1% | 10.9% | 9.2% | 7.7% | 9.5% |
| Payout Ratio | — | — | — | 164.1% | 6.9% | — | — | 110.5% | 629.9% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 7.0% | 54.8% | — | — | 9.9% | — | — | — |
| FCF Yield | 20.9% | 26.6% | 23.5% | 27.0% | 7.5% | 11.3% | 7.7% | 9.9% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.7% | 13.9% | 0.0% | 21.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 8.4% | 10.6% | 13.5% | 25.5% | 3.9% | 30.7% | 8.1% | 10.9% | 9.2% | 7.7% | 9.5% |
| Shares Outstanding | — | $40M | $40M | $43M | $44M | $47M | $44M | $38M | $30M | $20M | $12M |
Peer Comparison
Compare CIO 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 |
|---|---|---|---|---|---|---|---|---|---|
 CIOYou | $282M | -11.1 | 11.7 | 4.8 | 59.4% | 10.9% | -2.3% | 1.0% | 8.3 |
 PDM | $1B | -13.3 | 11.1 | — | -20.7% | 14.1% | -5.4% | 1.5% | 7.4 |
 DEA | $1B | 79.9 | 13.8 | 4.1 | -0.9% | 24.9% | 0.9% | 2.1% | 8.5 |
 PGRE | $1B | -31.4 | 12.3 | 5.5 | 60.0% | 19.6% | -1.2% | 1.5% | 9.5 |
 HIW | $3B | 20.2 | 13.6 | 19.4 | 67.6% | 26.0% | 6.6% | 2.7% | 7.2 |
 JBGS | $836M | -6.8 | 18.0 | — | -14.5% | -1.3% | -7.1% | -0.1% | 13.9 |
 BXP | $10B | 37.2 | 9.2 | 14.9 | 60.6% | 55.7% | 3.5% | 6.1% | 6.1 |
 KRC | $4B | 15.9 | 13.7 | — | 67.0% | 28.4% | 4.9% | 2.3% | 7.3 |
 VNO | $7B | 9.0 | 18.8 | 5.7 | 100.0% | 15.0% | 13.9% | 1.4% | 10.5 |
 SLG | $4B | -42.8 | 27.6 | 44.1 | 34.1% | 15.4% | -2.0% | 1.1% | 19.5 |
 CBRE | $39B | 34.2 | 22.7 | 32.3 | 15.0% | 3.2% | 12.3% | 6.2% | 4.8 |
| Real Estate Median | — | 24.1 | 17.0 | 15.4 | 49.3% | 24.8% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 14 years · Updated daily
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CIO — Frequently Asked Questions
Quick answers to the most common questions about buying CIO stock.
What is City Office REIT, Inc.'s P/E ratio?
City Office REIT, Inc.'s current P/E ratio is -11.1x. The historical average is 8.7x.
What is City Office REIT, Inc.'s EV/EBITDA?
City Office REIT, Inc.'s current EV/EBITDA is 11.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.9x.
What is City Office REIT, Inc.'s ROE?
City Office REIT, Inc.'s return on equity (ROE) is -2.3%. The historical average is 1.6%.
Is CIO stock overvalued?
Based on historical data, City Office REIT, Inc. is trading at a P/E of -11.1x. Compare with industry peers and growth rates for a complete picture.
What is City Office REIT, Inc.'s dividend yield?
City Office REIT, Inc.'s current dividend yield is 8.36%.
What are City Office REIT, Inc.'s profit margins?
City Office REIT, Inc. has 59.4% gross margin and 10.9% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does City Office REIT, Inc. have?
City Office REIT, Inc.'s Debt/EBITDA ratio is 8.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.