Latest Ratios: P/E Ratio 34.8x · EV/EBITDA 8.2x · ROE 5.7%. (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 | $3.0B | $2.7B | $1.9B | $3.0B | $1.7B | $4.1B | $2.3B | $2.3B | $2.3B | $6.1B | $2.5B |
| Enterprise Value | $2.9B | $2.6B | $1.9B | $3.1B | $1.7B | $8.1B | $6.0B | $10.1B | $10.8B | $16.0B | $5.8B |
| P/E Ratio → | 34.76 | 33.35 | 163.24 | 22.78 | — | — | — | — | — | — | 37.77 |
| P/S Ratio | 6.28 | 5.73 | 3.14 | 3.62 | 2.43 | 11.18 | 5.47 | 37.32 | 0.98 | 2.17 | 2.62 |
| P/B Ratio | 1.15 | 1.10 | 0.76 | 1.19 | 0.37 | 0.78 | 0.31 | 0.26 | 0.21 | 0.49 | 0.44 |
| P/FCF | 11.45 | 10.45 | 33.68 | 12.74 | 6.44 | 16.49 | — | 0.52 | 106.47 | — | — |
| P/OCF | 11.39 | 10.40 | 31.67 | 12.74 | 6.44 | 16.49 | 25.34 | 13.33 | 4.59 | 11.06 | 6.01 |
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 | — | 5.62 | 3.20 | 3.72 | 2.50 | 22.21 | 14.40 | 164.78 | 4.58 | 5.71 | 6.18 |
| EV / EBITDA | 8.23 | 7.50 | 11.73 | 3.86 | 2.30 | 12.05 | 16.79 | 21.17 | 4.45 | 6.19 | 6.53 |
| EV / EBIT | 8.98 | 4496.94 | 10.48 | 7.82 | — | 1121.99 | — | — | — | 50.63 | 12.45 |
| EV / FCF | — | 10.25 | 34.35 | 13.06 | 6.61 | 32.75 | — | 2.31 | 496.20 | — | — |
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 | 87.5% | 87.5% | 76.2% | 95.5% | 93.6% | 80.0% | 67.5% | 78.1% | 48.6% | 57.8% | 84.9% |
| Operating Margin | 68.7% | 68.7% | 21.7% | 37.1% | 25.3% | 9.0% | -51.6% | -198.6% | 17.5% | -10.3% | 21.7% |
| Net Profit Margin | 30.2% | 30.2% | 11.6% | 22.6% | -46.3% | -84.7% | -642.5% | -1718.4% | -22.0% | -7.1% | 12.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.7% | 5.7% | 2.8% | 5.2% | -6.5% | -4.9% | -33.0% | -10.4% | -4.4% | -2.2% | 2.1% |
| ROA | 4.1% | 4.1% | 2.0% | 2.5% | -2.6% | -1.8% | -13.4% | -5.0% | -2.2% | -1.1% | 1.2% |
| ROIC | 9.8% | 9.8% | 3.9% | 6.4% | 1.9% | 0.2% | -1.2% | -0.5% | 1.5% | -1.4% | 1.7% |
| ROCE | 9.4% | 9.4% | 3.8% | 6.8% | 2.2% | 0.3% | -1.3% | -0.6% | 1.9% | -1.7% | 2.1% |
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 | 0.14 | 0.14 | 0.14 | 0.17 | 0.20 | 1.07 | 0.61 | 1.01 | 0.80 | 0.88 | 0.66 |
| Debt / EBITDA | 0.94 | 0.94 | 2.05 | 0.53 | 1.19 | 8.36 | 12.38 | 18.91 | 3.69 | 4.20 | 4.19 |
| Net Debt / Equity | — | -0.02 | 0.02 | 0.03 | 0.01 | 0.77 | 0.51 | 0.87 | 0.76 | 0.80 | 0.59 |
| Net Debt / EBITDA | -0.15 | -0.15 | 0.23 | 0.10 | 0.06 | 5.98 | 10.41 | 16.38 | 3.50 | 3.84 | 3.76 |
| Debt / FCF | — | -0.20 | 0.66 | 0.32 | 0.18 | 16.25 | — | 1.78 | 389.72 | — | — |
| Interest Coverage | 0.00 | 0.00 | 11.27 | 15.90 | -0.09 | 0.11 | -4.28 | -0.97 | -0.24 | 0.55 | 2.74 |
Net cash position: cash ($383M) exceeds total debt ($331M)
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 | 61.58 | 61.58 | 7.35 | 4.68 | 1.71 | 1.69 | 1.26 | 2.15 | 3.36 | 6.76 | 9.50 |
| Quick Ratio | 61.58 | 61.58 | 7.35 | 4.68 | 1.71 | 1.69 | 0.24 | 2.15 | 1.84 | 7.06 | 9.68 |
| Cash Ratio | 38.79 | 38.79 | 5.02 | 3.48 | 0.15 | 0.47 | 0.14 | 0.67 | 0.24 | 1.08 | 0.88 |
| Asset Turnover | — | 0.14 | 0.17 | 0.23 | 0.06 | 0.03 | 0.02 | 0.00 | 0.11 | 0.11 | 0.10 |
| Inventory Turnover | — | — | — | — | — | — | 0.03 | — | 0.42 | — | — |
| 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 | 0.3% | 0.3% | 0.4% | 0.2% | 0.1% | 1.8% | 4.7% | 9.4% | 13.4% | 7.9% | 7.4% |
| Payout Ratio | 5.0% | 5.0% | 9.6% | 3.5% | — | — | — | — | — | — | 157.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.9% | 3.0% | 0.6% | 4.4% | — | — | — | — | — | — | 2.6% |
| FCF Yield | 8.7% | 9.6% | 3.0% | 7.8% | 15.5% | 6.1% | — | 191.4% | 0.9% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.2% | 3.3% | 3.7% | 1.1% | 0.5% | 14.8% | 15.4% | 0.8% |
| Total Shareholder Yield | 0.3% | 0.3% | 0.4% | 0.4% | 3.4% | 5.5% | 5.8% | 9.9% | 28.1% | 23.3% | 8.2% |
| Shares Outstanding | — | $176M | $169M | $170M | $154M | $123M | $118M | $120M | $124M | $133M | $41M |
Includes 30+ ratios · 16 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying DBRG stock.
DigitalBridge Group, Inc.'s current P/E ratio is 34.8x. The historical average is 46.5x. This places it at the 70th percentile of its historical range.
DigitalBridge Group, Inc.'s current EV/EBITDA is 8.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.9x.
DigitalBridge Group, Inc.'s return on equity (ROE) is 5.7%. The historical average is -0.6%.
Based on historical data, DigitalBridge Group, Inc. is trading at a P/E of 34.8x. This is at the 70th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
DigitalBridge Group, Inc.'s current dividend yield is 0.25% with a payout ratio of 5.0%.
DigitalBridge Group, Inc. has 87.5% gross margin and 68.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
DigitalBridge Group, Inc.'s Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Lumpy earnings from asset sales
Metrics are mathematically derived from official filings.
P/FFO Compression Masks Volatility
DBRG's P/FFO has compressed from 15.66 in 2024Q1 to 14.30 in 2026Q2, per reported figures, yet the underlying FFO is highly volatile, suggesting the multiple may not fully reflect earnings risk.
The trailing P/FFO of 14.30 in 2026Q2 is below the peer average, but this apparent discount is misleading given the extreme quarter-to-quarter swings in FFO per share, which ranged from -$0.13 to $1.28 over the past ten quarters. The implied cap rate, derived from NOI and enterprise value, is not directly observable but the 100% NOI margin in 2026Q2 suggests property-level yields are distorted by non-operating items. Investors should monitor whether the market is pricing in a normalized FFO that may not materialize given the transaction-driven nature of earnings.
NOI Margin Swings Distort Core Trend
NOI margin swung from 54.3% in 2024Q2 to 132.6% in 2024Q4, and stood at 100% in 2026Q2, per financial statements, indicating that property-level profitability is heavily influenced by non-operating items.
The extreme volatility in NOI margin—ranging from 54.3% to 132.6%—suggests that reported NOI is not a clean measure of recurring property profitability. The 2026Q2 margin of 100% implies that NOI equals revenue, which is atypical for a REIT and likely reflects one-time gains or accounting adjustments. This pattern indicates that FFO growth is not driven by organic same-store performance but by portfolio churn and asset sales, making it difficult to assess the sustainability of profitability.
Payout Ratio Hinges on FFO Spikes
The FFO payout ratio fell to 1.6% in 2026Q2 from 78.1% in 2025Q1, as reported, but the wide range underscores that dividend coverage is highly sensitive to volatile FFO.
While the 2026Q2 payout ratio of 1.6% suggests ample dividend coverage, this is a direct result of the FFO spike to $1.28 per share. In contrast, 2025Q1's payout ratio of 78.1% indicates that in weaker quarters, dividends consume a significant portion of FFO. The AFFO payout ratio mirrors this pattern, with AFFO per share equal to FFO in most quarters, implying minimal adjustments for maintenance capex. This suggests that dividend sustainability is not assured and depends on the timing of asset sales and other non-recurring gains.
Minimal Debt Provides Flexibility
Debt-to-equity stood at 0.11 in 2026Q2, with interest coverage of 44.45x, per reported figures, indicating a conservative balance sheet that can absorb earnings volatility.
The low leverage ratio and high interest coverage suggest that DBRG has significant financial flexibility, which is crucial given the lumpy nature of its earnings. Total debt declined to $291.8M in 2026Q2 from $412.6M in 2024Q1, while cash increased to $508.2M, resulting in a net cash position. This strong liquidity position may mitigate refinancing risk, but investors should note that the company's asset-light model means that debt levels are not directly comparable to traditional REITs.
Asset-Light Model Skews Occupancy Metrics
PPE declined to $25.3M in 2026Q2 from $42.0M in 2024Q1, per balance sheet data, underscoring a minimal physical footprint that makes traditional occupancy analysis less relevant.
With negligible property, plant, and equipment, DBRG's portfolio quality is not driven by physical occupancy but by the performance of its digital infrastructure investments. The lack of same-store metrics and the extreme revenue volatility suggest that the company's earnings are tied to transaction activity rather than recurring rent. G&A efficiency is not directly observable, but the high NOI margins in some quarters may reflect low operating costs relative to revenue, though this is distorted by non-operating items.
P/E Misleads Due to Depreciation
The standard P/E of 34.61 is distorted by depreciation and non-recurring items, as evidenced by the divergence between net income and FFO in 2024Q4, per reported figures.
For a REIT, P/E is often misleading because depreciation can significantly reduce GAAP earnings even when cash flows are stable. In 2024Q4, net income was -$5.1M while FFO was $3.2M, illustrating this distortion. Investors should rely on P/FFO or P/AFFO, but even these are complicated by the extreme volatility in FFO. The appropriate adjustment is to normalize FFO by excluding one-time gains and losses, which would provide a clearer picture of recurring earnings power.