Latest Ratios: P/E Ratio 55.8x · EV/EBITDA 9.1x · ROE 2.0%. (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 | $956M | $1.1B | $1.0B | $996M | $893M | $1.7B | $888M | $956M | $717M | $716M | $817M |
| Enterprise Value | $2.0B | $2.1B | $2.0B | $1.9B | $1.9B | $2.6B | $1.6B | $1.6B | $1.4B | $1.4B | $1.7B |
| P/E Ratio → | 55.76 | 65.41 | — | 25.09 | — | — | — | 19.65 | 6.14 | 16.51 | 11.36 |
| P/S Ratio | 2.71 | 3.17 | 3.93 | 3.81 | 3.48 | 8.63 | 4.99 | 5.14 | 4.23 | 3.48 | 4.34 |
| P/B Ratio | 1.13 | 1.32 | 1.14 | 1.05 | 0.92 | 1.70 | 1.29 | 1.37 | 1.04 | 1.13 | 1.14 |
| P/FCF | 14.87 | 17.41 | 24.66 | 32.46 | 25.20 | 36.17 | 28.71 | 19.64 | 25.16 | 9.69 | 25.75 |
| P/OCF | 9.71 | 11.37 | 10.44 | 11.13 | 9.70 | 20.73 | 14.50 | 13.73 | 14.94 | 9.69 | 12.29 |
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 | — | 6.02 | 7.54 | 7.29 | 7.36 | 12.72 | 9.02 | 8.49 | 8.30 | 7.04 | 8.85 |
| EV / EBITDA | 9.08 | 9.84 | 15.37 | 10.15 | 15.74 | 20.86 | 14.54 | 8.55 | 9.50 | 35.14 | 8.39 |
| EV / EBIT | 19.06 | 31.55 | 85.28 | 22.22 | 125.08 | 85.85 | 47.50 | 13.68 | 130.08 | — | — |
| EV / FCF | — | 33.09 | 47.34 | 62.02 | 53.35 | 53.30 | 51.96 | 32.42 | 49.41 | 19.59 | 52.54 |
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 | 3.0% | 3.0% | 56.9% | 55.9% | 53.8% | 55.1% | 55.6% | 54.5% | 53.7% | 57.1% | 58.0% |
| Operating Margin | 29.2% | 29.2% | 7.8% | 32.3% | 5.4% | 14.8% | 19.0% | 6.1% | -14.0% | -6.7% | 21.0% |
| Net Profit Margin | 5.0% | 5.0% | -4.1% | 16.1% | -5.2% | 0.3% | 2.9% | 26.2% | 68.8% | 21.1% | 38.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.0% | 2.0% | -1.2% | 4.4% | -1.4% | 0.1% | 0.7% | 7.0% | 17.6% | 6.4% | 9.9% |
| ROA | 0.9% | 0.9% | -0.6% | 2.1% | -0.7% | 0.0% | 0.4% | 3.5% | 8.1% | 2.7% | 3.8% |
| ROIC | 4.2% | 4.2% | 0.8% | 3.3% | 0.5% | 1.4% | 1.9% | 0.6% | -1.3% | -0.7% | 1.9% |
| ROCE | 5.9% | 5.9% | 1.1% | 4.6% | 0.8% | 2.0% | 2.7% | 0.9% | -1.8% | -0.9% | 2.5% |
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 | 1.21 | 1.21 | 1.06 | 0.97 | 1.04 | 0.84 | 1.04 | 0.93 | 1.02 | 1.20 | 1.28 |
| Debt / EBITDA | 4.72 | 4.72 | 7.46 | 4.88 | 8.39 | 6.96 | 6.51 | 3.51 | 4.74 | 18.46 | 4.61 |
| Net Debt / Equity | — | 1.19 | 1.05 | 0.96 | 1.03 | 0.81 | 1.04 | 0.89 | 1.01 | 1.15 | 1.18 |
| Net Debt / EBITDA | 4.66 | 4.66 | 7.36 | 4.84 | 8.31 | 6.71 | 6.51 | 3.37 | 4.66 | 17.76 | 4.28 |
| Debt / FCF | — | 15.68 | 22.68 | 29.56 | 28.15 | 17.13 | 23.25 | 12.78 | 24.25 | 9.90 | 26.79 |
| Interest Coverage | 1.52 | 1.52 | 0.62 | 2.35 | 0.46 | 0.93 | 1.16 | 3.78 | 0.32 | -0.07 | -0.35 |
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 | 0.27 | 0.27 | 0.49 | 0.32 | 0.16 | 0.71 | 0.22 | 0.87 | 0.17 | 0.67 | 2.26 |
| Quick Ratio | 0.27 | 0.27 | 0.49 | 0.32 | 0.16 | 0.71 | 0.22 | 0.87 | 0.15 | 0.67 | 2.26 |
| Cash Ratio | 0.06 | 0.06 | 0.11 | 0.09 | 0.06 | 0.23 | 0.00 | 0.27 | 0.08 | 0.23 | 0.49 |
| Asset Turnover | — | 0.18 | 0.14 | 0.14 | 0.13 | 0.10 | 0.12 | 0.13 | 0.12 | 0.14 | 0.11 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 18.59 | — | — |
| 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 | 5.4% | 4.6% | 4.5% | 4.4% | 5.0% | 2.2% | 3.9% | 3.4% | 4.6% | 4.7% | 6.8% |
| Payout Ratio | 290.4% | 290.4% | — | 104.2% | — | 6299.0% | 689.7% | 67.6% | 28.1% | 77.7% | 77.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.8% | 1.5% | — | 4.0% | — | — | — | 5.1% | 16.3% | 6.1% | 8.8% |
| FCF Yield | 6.7% | 5.7% | 4.1% | 3.1% | 4.0% | 2.8% | 3.5% | 5.1% | 4.0% | 10.3% | 3.9% |
| Buyback Yield | 0.5% | 0.4% | 0.5% | 1.2% | 3.7% | 0.0% | 0.6% | 2.7% | 18.6% | 1.4% | 0.6% |
| Total Shareholder Yield | 5.8% | 5.0% | 4.9% | 5.6% | 8.7% | 2.2% | 4.6% | 6.2% | 23.2% | 6.1% | 7.4% |
| Shares Outstanding | — | $17M | $16M | $17M | $15M | $16M | $13M | $13M | $13M | $12M | $14M |
Regional Regulatory Rent Control
As reported in recent financial data, the P/FFO multiple has exhibited significant volatility, reaching 48.29 in 2026Q1, which suggests that the market is struggling to price the company's earnings power amidst the sharp decline in FFO per share from its 2025Q3 peak of 4.21.
The absence of a stable P/FFO or P/AFFO multiple indicates that investors are currently discounting the company's ability to generate consistent cash flow. This valuation uncertainty appears to be driven by the erratic nature of recent FFO growth, which makes traditional REIT valuation metrics less reliable for forecasting future performance.
Based on the company's quarterly filings, the NOI margin collapsed to -24.4% in 2026Q1 from 59.5% in 2025Q4, indicating that property-level operating expenses are currently overwhelming the revenue generated by the residential portfolio in the Upper Midwest.
This dramatic swing in profitability suggests that the company's cost structure is highly sensitive to localized inflationary pressures or unexpected maintenance requirements. Investors should monitor whether this margin compression is a temporary anomaly or a structural shift that threatens the long-term viability of the current operating model.
According to the latest financial statements, the FFO payout ratio reached 94.8% in 2026Q1, a concerning level that leaves almost no margin for error in covering distributions from recurring cash flow generated by the company's residential assets.
The high payout ratio, combined with the recent instability in FFO per share, suggests that the dividend may be at risk if operational performance does not improve. The reliance on nearly all available FFO to fund the dividend limits the company's ability to reinvest in value-add capital projects.
As indicated by the company's reported figures, the debt-to-equity ratio fluctuated significantly, moving from 0.56 in 2026Q1 to 1.21 in 2025Q4, which highlights a lack of consistency in capital structure management during a period of operational stress.
The volatility in leverage suggests that the company may be struggling to maintain a stable financing profile while navigating a challenging economic environment. This instability warrants further investigation into the company's debt maturity schedule and its ongoing access to capital markets for refinancing needs.
The most commonly misapplied metric for Centerspace is the standard P/E ratio, which, as shown in recent filings, fails to account for the heavy non-cash depreciation charges that consistently distort the company's reported GAAP net income.
Using P/E to evaluate a REIT like Centerspace is fundamentally misleading because it treats depreciation as a cash expense, thereby obscuring the true cash-generating capacity of the property portfolio. Analysts should instead prioritize FFO or AFFO, which provide a more accurate reflection of the company's ability to sustain dividends and fund operations.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CSR stock.
Centerspace's current P/E ratio is 55.8x. The historical average is 43.5x. This places it at the 78th percentile of its historical range.
Centerspace's current EV/EBITDA is 9.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.7x.
Centerspace's return on equity (ROE) is 2.0%. The historical average is 4.3%.
Based on historical data, Centerspace is trading at a P/E of 55.8x. This is at the 78th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Centerspace's current dividend yield is 5.35% with a payout ratio of 290.4%.
Centerspace has 3.0% gross margin and 29.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Centerspace's Debt/EBITDA ratio is 4.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.