Latest Ratios: P/E Ratio 93.4x · EV/EBITDA 10.9x · ROE 1.9%. (2010–2025 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 | $611M | $340M | $438M | $524M | $602M | $663M | $507M | $862M | $818M | $913M | $791M |
| Enterprise Value | $937M | $667M | $845M | $960M | $1.1B | $1.2B | $1.3B | $1.6B | $1.4B | $1.4B | $1.4B |
| P/E Ratio → | 93.43 | 48.64 | — | — | — | — | — | — | 26.79 | 31.18 | 25.37 |
| P/S Ratio | 2.07 | 1.15 | 1.38 | 1.68 | 2.04 | 3.25 | 3.83 | 2.63 | 2.52 | 3.05 | 2.69 |
| P/B Ratio | 0.84 | 0.44 | 0.55 | 0.65 | 0.74 | 0.81 | 0.73 | 1.11 | 1.01 | 1.13 | 1.16 |
| P/FCF | 9.55 | 5.32 | 5.99 | 6.85 | 8.41 | 34.42 | — | 17.12 | — | — | 12.13 |
| P/OCF | 9.53 | 5.31 | 5.93 | 6.85 | 8.41 | 23.05 | — | 10.00 | 9.48 | 10.53 | 9.02 |
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 | — | 2.26 | 2.66 | 3.09 | 3.62 | 5.94 | 9.46 | 4.74 | 4.30 | 4.82 | 4.63 |
| EV / EBITDA | 10.86 | 7.73 | 8.99 | 11.06 | 11.14 | 32.73 | 104.67 | 14.86 | 4.30 | 4.88 | 4.63 |
| EV / EBIT | 35.35 | 16.27 | 25.22 | 33.81 | 29.39 | 285.45 | — | 33.00 | 24.15 | 24.87 | 23.10 |
| EV / FCF | — | 10.42 | 11.55 | 12.56 | 14.93 | 62.84 | — | 30.87 | — | — | 20.89 |
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 | 3.5% | 3.5% | 35.1% | 35.7% | 37.8% | 29.0% | 28.3% | 37.7% | 38.3% | 39.9% | 40.6% |
| Operating Margin | 9.0% | 9.0% | 10.5% | 9.2% | 12.4% | -8.4% | -31.4% | 16.3% | 17.9% | 17.7% | 20.1% |
| Net Profit Margin | 5.1% | 5.1% | 1.3% | 0.8% | 3.3% | -9.0% | -57.4% | 5.7% | 9.5% | 9.9% | 10.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.9% | 1.9% | 0.5% | 0.3% | 1.2% | -2.4% | -10.4% | 2.4% | 3.8% | 4.0% | 4.6% |
| ROA | 1.2% | 1.2% | 0.3% | 0.2% | 0.7% | -1.3% | -5.4% | 1.3% | 2.2% | 2.2% | 2.4% |
| ROIC | 1.7% | 1.7% | 2.0% | 1.7% | 2.1% | -0.9% | -2.1% | 2.8% | 3.2% | 3.1% | 3.5% |
| ROCE | 2.4% | 2.4% | 2.7% | 2.2% | 2.8% | -1.3% | -3.1% | 3.8% | 4.2% | 4.1% | 4.6% |
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 | 0.46 | 0.46 | 0.54 | 0.63 | 0.60 | 0.70 | 1.11 | 0.90 | 0.72 | 0.66 | 0.86 |
| Debt / EBITDA | 4.16 | 4.16 | 4.55 | 5.81 | 5.14 | 15.32 | 64.08 | 6.68 | 1.80 | 1.82 | 1.98 |
| Net Debt / Equity | — | 0.42 | 0.51 | 0.54 | 0.57 | 0.67 | 1.08 | 0.89 | 0.71 | 0.65 | 0.84 |
| Net Debt / EBITDA | 3.78 | 3.78 | 4.33 | 5.03 | 4.86 | 14.80 | 62.32 | 6.62 | 1.78 | 1.79 | 1.94 |
| Debt / FCF | — | 5.10 | 5.57 | 5.71 | 6.51 | 28.42 | — | 13.75 | — | — | 8.76 |
| Interest Coverage | 1.69 | 1.69 | 1.14 | 1.10 | 1.37 | 0.17 | -1.99 | 1.67 | 2.15 | 2.08 | 2.08 |
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 | 1.06 | 1.06 | 0.23 | 2.71 | 1.49 | 0.33 | 0.72 | 0.46 | 0.80 | 0.98 | 1.15 |
| Quick Ratio | 1.06 | 1.06 | 0.23 | 2.71 | 1.49 | 0.33 | 0.72 | 0.46 | 0.29 | 0.36 | 0.50 |
| Cash Ratio | 0.98 | 0.98 | 0.14 | 1.97 | 0.78 | 0.19 | 0.46 | 0.12 | 0.15 | 0.21 | 0.31 |
| Asset Turnover | — | 0.25 | 0.25 | 0.23 | 0.22 | 0.14 | 0.10 | 0.23 | 0.23 | 0.21 | 0.23 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 7.95 | 6.61 | 6.96 |
| 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 | 2.7% | 5.2% | 3.3% | 2.7% | 0.0% | 0.0% | 3.2% | 7.3% | 7.5% | 5.8% | 6.7% |
| Payout Ratio | 117.0% | 117.0% | 345.1% | 537.5% | 1.5% | — | — | 335.0% | 201.0% | 178.5% | 168.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.1% | 2.1% | — | — | — | — | — | — | 3.7% | 3.2% | 3.9% |
| FCF Yield | 10.5% | 18.8% | 16.7% | 14.6% | 11.9% | 2.9% | — | 5.8% | — | — | 8.2% |
| Buyback Yield | 1.5% | 2.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.2% | 7.8% | 3.3% | 2.7% | 0.0% | 0.0% | 3.2% | 7.3% | 7.5% | 5.8% | 6.7% |
| Shares Outstanding | — | $50M | $49M | $49M | $49M | $48M | $47M | $47M | $46M | $40M | $38M |
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying CLDT stock.
Chatham Lodging Trust's current P/E ratio is 93.4x. The historical average is 46.5x. This places it at the 86th percentile of its historical range.
Chatham Lodging Trust's current EV/EBITDA is 10.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.4x.
Chatham Lodging Trust's return on equity (ROE) is 1.9%. The historical average is 1.2%.
Based on historical data, Chatham Lodging Trust is trading at a P/E of 93.4x. This is at the 86th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Chatham Lodging Trust's current dividend yield is 2.69% with a payout ratio of 117.0%.
Chatham Lodging Trust has 3.5% gross margin and 9.0% operating margin.
Chatham Lodging Trust's Debt/EBITDA ratio is 4.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Seasonal earnings volatility and thin liquidity
Metrics are mathematically derived from official filings.
Valuation Discount to Lodging Peers
CLDT trades at a P/FFO of 15.24x, a notable discount to peers like DiamondRock (28.86x P/E) and Ryman (34.30x P/E), suggesting the market is pricing in its seasonal volatility and lower profitability profile.
The company's P/FFO multiple has remained relatively stable in the 15-16x range over the past ten quarters, indicating limited multiple expansion despite improving operational metrics. This valuation appears to reflect investor caution regarding the significant Q1 earnings trough and the asset-light structure's reliance on leased properties, which introduces a layer of operational risk not fully captured by traditional leverage ratios.
NOI Margin Driven by Seasonal Peaks
CLDT's NOI margin expanded to 40.7% in 2026Q2, a strong seasonal peak, but the severe -1.6% margin in 2026Q1 indicates that annual profitability is heavily dependent on high-demand periods.
The wide swing in NOI margins from negative in Q1 to over 40% in Q2 underscores the cyclical nature of the lodging industry and CLDT's exposure to it. While FFO per share grew 15.3% year-over-year in the latest quarter, this growth appears driven by seasonal recovery rather than structural margin expansion, warranting caution about annualizing peak-quarter performance.
AFFO Supports Dividend, FFO Payout Volatile
Based on reported figures, the FFO payout ratio spiked to 43.3% in 2026Q1 but fell to a conservative 20.8% in 2026Q2, indicating the dividend is well-covered during peak seasons but faces pressure during operational troughs.
The availability of AFFO data is inconsistent, but where reported (e.g., 20.8% payout in 2026Q2), it suggests a strong cash buffer for distributions. However, the volatility in the FFO payout ratio, driven by seasonal earnings swings, means investors should monitor the company's ability to maintain its dividend through weaker quarters without drawing on limited cash reserves.
Conservative Debt but Minimal Cash Buffer
As reported in financial statements, CLDT's debt-to-equity ratio of 0.57 is conservative relative to lodging peers, yet its cash balance of $11.3M covers less than one quarter of FFO, creating a liquidity vulnerability.
The gradual deleveraging trend from 0.63 to 0.57 over two years is a positive credit signal. However, the asset-light model with minimal PPE ($16.6M) suggests significant lease obligations are not captured on the balance sheet, potentially understating true economic leverage. The thin cash cushion is a key risk given the demonstrated seasonal cash flow volatility.
Operational Efficiency Masked by Seasonality
CLDT's G&A cost efficiency is difficult to assess due to extreme seasonal swings in revenue and NOI, but the asset-light structure suggests a focus on managing leased properties rather than owning a diversified portfolio.
The company's operational model appears to prioritize managing hotel properties over owning them, which can lead to higher operating leverage and volatility. The lack of detailed geographic or property-type concentration data in the provided metrics makes it challenging to assess portfolio diversification, but the severe Q1 performance suggests a concentration in seasonal demand markets.
The Misleading P/E Ratio for a Hotel REIT
The reported P/E of 97.64x is deeply misleading for CLDT, as it is distorted by minimal GAAP net income due to high depreciation, making P/FFO the appropriate valuation metric.
Standard P/E analysis is invalid for CLDT because real estate depreciation, a non-cash charge, overwhelms GAAP net income, resulting in an artificially high multiple. The P/FFO ratio of 15.24x provides a far more accurate picture of valuation relative to cash earnings. Investors relying on P/E would incorrectly conclude the stock is extremely overvalued, missing the underlying cash flow generation.