Latest Ratios: P/E Ratio 85.6x · EV/EBITDA 34.4x · ROE 2.1%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $3.3B | $2.4B | $2.4B | — | — |
| Enterprise Value | $3.5B | $2.6B | $1.9B | — | — |
| P/E Ratio → | 85.57 | 62.73 | 244.42 | — | — |
| P/S Ratio | 18.27 | 13.36 | 20.21 | — | — |
| P/B Ratio | 1.74 | 1.28 | 1.26 | — | — |
| P/FCF | 26.82 | 19.61 | 45.03 | — | — |
| P/OCF | 26.82 | 19.61 | 45.03 | — | — |
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 |
|---|---|---|---|---|---|
| EV / Revenue | — | 14.46 | 15.36 | — | — |
| EV / EBITDA | 34.38 | 25.67 | 24.48 | — | — |
| EV / EBIT | 115.67 | 50.53 | 166.11 | — | — |
| EV / FCF | — | 21.22 | 34.22 | — | — |
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 |
|---|---|---|---|---|---|
| Gross Margin | 74.9% | 74.9% | 77.2% | 76.6% | 79.0% |
| Operating Margin | 16.7% | 16.7% | 28.1% | 36.9% | 37.4% |
| Net Profit Margin | 21.8% | 21.8% | 8.5% | 33.1% | 35.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 2.1% | 2.1% | 0.7% | 4.0% | 3.7% |
| ROA | 1.8% | 1.8% | 0.7% | 3.7% | 3.4% |
| ROIC | 1.3% | 1.3% | 2.2% | 3.1% | — |
| ROCE | 1.4% | 1.4% | 2.3% | 4.2% | 3.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.26 | 0.26 | 0.02 | 0.05 | 0.08 |
| Debt / EBITDA | 4.76 | 4.76 | 0.53 | 0.71 | 1.00 |
| Net Debt / Equity | — | 0.10 | -0.30 | 0.05 | 0.08 |
| Net Debt / EBITDA | 1.94 | 1.94 | -7.73 | 0.70 | 1.00 |
| Debt / FCF | — | 1.61 | -10.80 | 0.78 | 1.08 |
| Interest Coverage | 4.31 | 4.31 | 12.41 | 21.40 | 16.89 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 5.11 | 5.11 | 13.63 | 1.06 | 0.78 |
| Quick Ratio | 5.11 | 5.11 | 13.63 | 1.06 | 0.78 |
| Cash Ratio | 4.36 | 4.36 | 12.43 | 0.05 | 0.01 |
| Asset Turnover | — | 0.07 | 0.06 | 0.10 | 0.10 |
| 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 |
|---|---|---|---|---|---|
| Dividend Yield | 2.3% | 3.2% | — | — | — |
| Payout Ratio | 194.3% | 194.3% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 1.2% | 1.6% | 0.4% | — | — |
| FCF Yield | 3.7% | 5.1% | 2.2% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 2.3% | 3.2% | 0.0% | — | — |
| Shares Outstanding | — | $105M | $105M | $105M | $105M |
High G&A Overhead
As reported in financial statements, the lack of a stabilized P/FFO multiple complicates valuation, though the current P/B of 1.74 suggests investors are pricing in a premium for the company's unique convenience-retail focus and its clean, debt-light balance sheet relative to traditional shopping center peers.
The absence of a meaningful P/FFO multiple indicates that the market is still calibrating its expectations for Curbline's earnings power as a standalone entity. Investors should monitor whether the current valuation premium holds as the company deploys its significant cash reserves, as any deviation from the pure-play convenience model could trigger a re-rating.
Based on the reported figures for 2026Q1, the NOI margin contraction to -13.7% highlights the significant drag of corporate-level transition costs, which currently obscure the underlying profitability of the company's high-visibility, service-oriented retail portfolio as it scales toward institutional efficiency.
The sharp decline in margins suggests that the current G&A load is disproportionate to the existing revenue base. Analysts should look for evidence of operating leverage in future quarters, as the company must demonstrate that its property-level profitability can withstand the costs of maintaining a standalone management platform.
According to recent SEC filings, the FFO payout ratio of 68.9% in 2026Q1 suggests a manageable dividend commitment, yet the historical volatility in FFO per share warrants caution regarding the long-term sustainability of distributions until the company achieves a more predictable earnings cadence.
While the current payout appears covered, the reliance on FFO as a primary metric may be misleading if recurring capital expenditures are not fully accounted for. Investors should monitor the AFFO payout ratio closely to ensure that the dividend is supported by true cash flow after necessary property maintenance.
As indicated by the reported debt-to-equity ratio of 0.35 in 2026Q1, Curbline maintains a conservative capital structure that provides a distinct competitive advantage in the current high-rate environment, allowing for opportunistic acquisitions without the immediate pressure of refinancing or interest coverage constraints.
The company's minimal leverage profile is a key differentiator, positioning it to navigate potential market distress more effectively than its more highly levered peers. This financial flexibility appears to be a core component of the management strategy to scale the portfolio without compromising long-term solvency.
As noted in the provided financial data, the market's tendency to focus on standard P/E multiples for Curbline is deeply misleading, as it fails to account for the significant non-cash depreciation charges inherent in the REIT structure that distort the company's true economic earnings.
Investors should prioritize FFO and AFFO over P/E to better understand the company's cash-generating capacity. Relying on GAAP earnings obscures the reality that property values may be appreciating even as accounting depreciation reduces the reported bottom line, leading to an inaccurate assessment of valuation.
Includes 30+ ratios · 4 years · Updated daily
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Quick answers to the most common questions about buying CURB stock.
Curbline Properties Corp.'s current P/E ratio is 85.6x. The historical average is 62.7x. This places it at the 100th percentile of its historical range.
Curbline Properties Corp.'s current EV/EBITDA is 34.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.1x.
Curbline Properties Corp.'s return on equity (ROE) is 2.1%. The historical average is 2.6%.
Based on historical data, Curbline Properties Corp. is trading at a P/E of 85.6x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Curbline Properties Corp.'s current dividend yield is 2.32% with a payout ratio of 194.3%.
Curbline Properties Corp. has 74.9% gross margin and 16.7% operating margin. Operating margin between 10-20% is typical for established companies.
Curbline Properties Corp.'s Debt/EBITDA ratio is 4.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.