Latest Ratios: P/E Ratio 9.2x · EV/EBITDA 17.2x · ROE 8.4%. (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 | $10.0B | $11.9B | $12.6B | $10.9B | $12.1B | $18.4B | $9.9B | $10.5B | $8.4B | $8.5B | $7.6B |
| Enterprise Value | $13.9B | $15.8B | $16.1B | $14.3B | $15.8B | $20.9B | $12.7B | $13.0B | $10.7B | $10.4B | $9.8B |
| P/E Ratio → | 9.24 | 31.10 | 77.36 | 26.84 | 18.55 | 60.36 | 80.58 | 47.79 | 53.69 | 43.42 | 9.22 |
| P/S Ratio | 6.40 | 7.59 | 8.16 | 7.04 | 8.52 | 16.07 | 9.52 | 10.25 | 8.80 | 9.45 | 8.62 |
| P/B Ratio | 2.43 | 2.69 | 2.65 | 2.15 | 2.40 | 4.31 | 2.83 | 2.85 | 2.44 | 2.39 | 2.38 |
| P/FCF | 14.04 | 30.91 | 33.05 | 28.29 | 41.07 | 123.52 | 107.91 | 71.23 | 58.10 | 62.82 | 75.50 |
| P/OCF | 12.09 | 14.44 | 16.25 | 13.66 | 16.28 | 31.82 | 19.13 | 18.98 | 16.67 | 19.59 | 17.06 |
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 | — | 10.05 | 10.40 | 9.29 | 11.10 | 18.30 | 12.15 | 12.68 | 11.19 | 11.49 | 11.18 |
| EV / EBITDA | 17.24 | 17.57 | 18.26 | 15.93 | 18.84 | 32.36 | 21.94 | 22.24 | 19.88 | 20.70 | 19.78 |
| EV / EBIT | 48.01 | 29.44 | 52.90 | 26.15 | 60.06 | 50.86 | 57.16 | 42.62 | 43.36 | 399.93 | 17.82 |
| EV / FCF | — | 40.94 | 42.13 | 37.28 | 53.50 | 140.71 | 137.74 | 88.12 | 73.93 | 76.37 | 97.91 |
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 | 61.4% | 61.4% | 61.2% | 62.1% | 62.8% | 60.8% | 59.5% | 61.4% | 60.9% | 60.2% | 61.2% |
| Operating Margin | 18.4% | 18.4% | 19.3% | 21.0% | 18.4% | 19.8% | 20.2% | 24.3% | 24.8% | 26.2% | 28.0% |
| Net Profit Margin | 24.4% | 24.4% | 10.6% | 26.2% | 45.9% | 26.6% | 11.9% | 21.4% | 16.4% | 21.8% | 93.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.4% | 8.4% | 3.3% | 8.0% | 14.0% | 7.8% | 3.4% | 6.2% | 4.5% | 5.8% | 26.7% |
| ROA | 4.3% | 4.3% | 1.8% | 4.3% | 7.6% | 4.0% | 1.8% | 3.4% | 2.5% | 3.2% | 13.6% |
| ROIC | 2.6% | 2.6% | 2.7% | 2.8% | 2.5% | 2.6% | 2.5% | 3.1% | 3.2% | 3.3% | 3.3% |
| ROCE | 3.4% | 3.4% | 3.4% | 3.6% | 3.2% | 3.1% | 3.2% | 4.0% | 4.0% | 4.0% | 4.2% |
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 | 0.88 | 0.88 | 0.73 | 0.74 | 0.73 | 0.74 | 0.90 | 0.68 | 0.68 | 0.62 | 0.78 |
| Debt / EBITDA | 4.33 | 4.33 | 3.96 | 4.13 | 4.39 | 4.90 | 5.48 | 4.30 | 4.32 | 4.41 | 5.01 |
| Net Debt / Equity | — | 0.87 | 0.73 | 0.68 | 0.73 | 0.60 | 0.78 | 0.68 | 0.67 | 0.52 | 0.71 |
| Net Debt / EBITDA | 4.31 | 4.31 | 3.94 | 3.85 | 4.38 | 3.95 | 4.75 | 4.26 | 4.26 | 3.67 | 4.53 |
| Debt / FCF | — | 10.03 | 9.09 | 9.00 | 12.43 | 17.19 | 29.83 | 16.89 | 15.83 | 13.54 | 22.41 |
| Interest Coverage | 3.89 | 3.89 | 2.34 | 4.11 | 2.32 | 4.23 | 2.42 | 3.79 | 2.92 | 0.30 | 5.91 |
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 | 0.10 | 0.10 | 0.10 | 0.65 | 0.07 | 1.84 | 1.36 | 0.16 | 0.24 | 1.59 | 1.44 |
| Quick Ratio | 0.10 | 0.10 | 0.10 | 0.65 | 0.07 | 1.84 | 1.36 | 0.16 | 0.24 | 1.60 | 1.44 |
| Cash Ratio | 0.06 | 0.06 | 0.05 | 0.60 | 0.02 | 1.77 | 1.29 | 0.08 | 0.12 | 1.46 | 1.32 |
| Asset Turnover | — | 0.17 | 0.17 | 0.16 | 0.15 | 0.14 | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 |
| 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 | 4.3% | 3.9% | 3.6% | 4.0% | 3.3% | 1.9% | 3.4% | 3.0% | 3.5% | 3.3% | 8.8% |
| Payout Ratio | 119.9% | 119.9% | 276.2% | 107.8% | 60.7% | 112.9% | 269.0% | 144.5% | 190.9% | 142.9% | 80.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.8% | 3.2% | 1.3% | 3.7% | 5.4% | 1.7% | 1.2% | 2.1% | 1.9% | 2.3% | 10.8% |
| FCF Yield | 7.1% | 3.2% | 3.0% | 3.5% | 2.4% | 0.8% | 0.9% | 1.4% | 1.7% | 1.6% | 1.3% |
| Buyback Yield | 2.7% | 2.3% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% |
| Total Shareholder Yield | 7.0% | 6.1% | 4.0% | 4.0% | 3.3% | 1.9% | 3.4% | 3.0% | 3.7% | 3.3% | 8.8% |
| Shares Outstanding | — | $108M | $109M | $109M | $108M | $103M | $99M | $99M | $95M | $93M | $90M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CPT stock.
Camden Property Trust's current P/E ratio is 9.2x. The historical average is 40.4x. This places it at the 3th percentile of its historical range.
Camden Property Trust's current EV/EBITDA is 17.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.3x.
Camden Property Trust's return on equity (ROE) is 8.4%. The historical average is 7.3%.
Based on historical data, Camden Property Trust is trading at a P/E of 9.2x. This is at the 3th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Camden Property Trust's current dividend yield is 4.27% with a payout ratio of 119.9%.
Camden Property Trust has 61.4% gross margin and 18.4% operating margin. Operating margin between 10-20% is typical for established companies.
Camden Property Trust's Debt/EBITDA ratio is 4.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Sunbelt supply pressure on rents
Metrics are mathematically derived from official filings.
Valuation Anchored by Unreliable FFO Series
Based on the supplied figures, CPT trades at 9.24x trailing P/E and 44.58x on the latest quarter's P/FFO, a spread that appears driven by the volatile FFO-per-share series rather than by a clear re-rating of the underlying portfolio.
P/FFO is unavailable on the current valuation summary, so the only usable FFO-based read comes from the quarterly ratio table, where the multiple has moved from 45.44x to 44.58x with FFO per share swinging between $1.31 and $10.21. The implied cap rate cannot be cleanly derived from the supplied enterprise value and NOI series, which contain negative and anomalous entries. Investors should monitor whether a normalized FFO figure produces a multiple in line with the 17.24x EV/EBITDA and peer FFO-based multiples before drawing a valuation conclusion.
NOI Margin Stable While Growth Fades
Reported NOI margins have held near 60% to 62% across most quarters, but revenue growth slowing to 1.9% YoY suggests the property-level margin is no longer offsetting top-line pressure.
The stable margin band in the 2024 to 2025 quarters points to controlled operating costs, which fits the high fixed-cost structure of Class A multifamily. However, the 2026 Q1 and Q2 negative NOI margins appear to be reporting or classification anomalies rather than operating results, and they should not be read as a margin collapse without confirmation. The bigger signal is that headline FFO growth has been erratic, with the 2026 Q3 spike likely reflecting non-recurring items, so same-store NOI growth remains the cleaner gauge of organic performance.
Payout Coverage Narrowing Under Volatile AFFO
FFO payout ratios ranged from 37.7% to 85.5% in the measurable quarters, with the 2025 Q3 reading of 85.5% suggesting limited cushion when AFFO softens.
A payout ratio near 60% in most quarters leaves room for retained cash flow, but the swing toward 85% in mid-2025 indicates that dividend coverage is sensitive to quarterly AFFO timing. The AFFO-per-share series fell to $0.02 in Q1 2026 and $0.29 in Q2 2026, which would imply a dividend backed by a thin or negative cash margin if sustained. The current 4.3% yield therefore depends on AFFO normalizing toward the $0.67 to $1.62 range seen in 2025, a condition warranting close tracking.
Debt Load Rising Faster Than Equity Base
Debt-to-equity moved from 0.72 to a peak of 1.25 before easing to 0.91, and total debt climbed from $3.5B to $4.2B, suggesting leverage has been built through the recent expansion rather than through retained earnings.
Interest coverage has been highly volatile, falling as low as 0.94 in Q3 2024 and reaching 23.12 in Q3 2026, which suggests that earnings-based coverage is distorted by depreciation and one-time gains rather than reflecting stable debt service capacity. Cash balances between roughly $21M and $94M provide a thin buffer against $3.5B to $4.8B of debt, implying reliance on continued credit market access. Refinancing exposure and the fixed-rate share of debt are not disclosed in the supplied data, so the leverage picture remains partly unverified.
Debt-to-Equity Misleads on Gross Asset Basis
Standard debt-to-equity is the metric most often misapplied to CPT, because book equity is depressed by accumulated depreciation and the reported 0.88 figure can understate leverage relative to gross real estate value.
Using book equity as the denominator shrinks as depreciation accumulates, so D/E can look stable or even improve while the underlying property debt load grows. Debt-to-gross-assets, computed against the $9.6B total asset base, provides a more appropriate leverage read for a REIT and avoids the distortion from the equity swings between $3.8B and $4.9B. Investors should also adjust for the non-recurring items inflating Q3 2026 earnings, since ROE of 21.2% reflects a one-time gain rather than a structural change in returns.