Latest Ratios: P/E Ratio 2.8x · EV/EBITDA 8.3x · ROE 17.6%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $14M | $25M | $30M | — | — | — | — |
| Enterprise Value | $80M | $10.4B | $10.3B | — | — | — | — |
| P/E Ratio → | 2.82 | 0.03 | 0.05 | — | — | — | — |
| P/S Ratio | 0.13 | 0.00 | 0.00 | — | — | — | — |
| P/B Ratio | 0.45 | 0.00 | 0.01 | — | — | — | — |
| P/FCF | 2.98 | 0.03 | — | — | — | — | — |
| P/OCF | 0.71 | 0.01 | 0.02 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.57 | 0.54 | — | — | — | — |
| EV / EBITDA | 8.25 | 6.78 | 10.31 | — | — | — | — |
| EV / EBIT | 8.87 | 7.29 | 10.62 | — | — | — | — |
| EV / FCF | — | 13.58 | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 19.2% | 19.2% | 15.6% | 15.8% | 16.5% | 13.2% | 11.4% |
| Operating Margin | 7.8% | 7.8% | 4.7% | 5.4% | 5.4% | 4.0% | 2.1% |
| Net Profit Margin | 4.5% | 4.5% | 3.3% | 3.5% | 3.3% | 2.5% | 1.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | 17.6% | 17.6% | 18.0% | 24.8% | 28.7% | 19.1% | 7.9% |
| ROA | 4.3% | 4.3% | 3.8% | 4.3% | 5.1% | 3.2% | 1.2% |
| ROIC | 7.1% | 7.1% | 4.8% | 5.9% | 7.5% | 4.8% | 1.9% |
| ROCE | 12.9% | 12.9% | 10.1% | 14.0% | 21.9% | 15.2% | 6.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.59 | 2.59 | 2.74 | 4.15 | 4.00 | 3.62 | 4.86 |
| Debt / EBITDA | 8.50 | 8.50 | 11.58 | 11.12 | 9.45 | 12.08 | 24.11 |
| Net Debt / Equity | — | 2.06 | 2.43 | 3.86 | 3.81 | 3.33 | 4.60 |
| Net Debt / EBITDA | 6.76 | 6.76 | 10.28 | 10.35 | 9.02 | 11.10 | 22.84 |
| Debt / FCF | — | 13.55 | — | — | — | — | — |
| Interest Coverage | 33.11 | 33.11 | 53.17 | 56.51 | 36.92 | 7.84 | 15.12 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 0.36 | 0.36 | 1.42 | 1.66 | 1.28 | 0.95 | 0.84 |
| Quick Ratio | 0.36 | 0.36 | 0.26 | 0.21 | 0.12 | 0.20 | 0.14 |
| Cash Ratio | 0.34 | 0.34 | 0.16 | 0.11 | 0.05 | 0.08 | 0.06 |
| Asset Turnover | — | 0.88 | 1.10 | 1.10 | 1.33 | 1.20 | 1.05 |
| Inventory Turnover | — | — | 1.73 | 1.41 | 1.56 | 2.15 | 1.95 |
| 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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.7% | 100.0% | 84.7% | — | — | — | — |
| Payout Ratio | — | — | 4.0% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 35.5% | 3267.4% | 2123.5% | — | — | — | — |
| FCF Yield | 33.6% | 3089.5% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 1.7% | 100.0% | 84.7% | — | — | — | — |
| Shares Outstanding | — | $14M | $13M | $14M | $14M | $14M | $14M |
Includes 30+ ratios · 6 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying LRE stock.
Lead Real Estate Co., Ltd American Depositary Shares's current P/E ratio is 2.8x. The historical average is 0.0x. This places it at the 100th percentile of its historical range.
Lead Real Estate Co., Ltd American Depositary Shares's current EV/EBITDA is 8.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.5x.
Lead Real Estate Co., Ltd American Depositary Shares's return on equity (ROE) is 17.6%. The historical average is 19.3%.
Based on historical data, Lead Real Estate Co., Ltd American Depositary Shares is trading at a P/E of 2.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Lead Real Estate Co., Ltd American Depositary Shares's current dividend yield is 1.74%.
Lead Real Estate Co., Ltd American Depositary Shares has 19.2% gross margin and 7.8% operating margin.
Lead Real Estate Co., Ltd American Depositary Shares's Debt/EBITDA ratio is 8.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Project completion timing volatility
Valuation Multiples Reflect Operational Uncertainty
Based on reported financial data, LRE's P/E ratio of 3.58 suggests a significant discount compared to broader market averages, which may indicate that investors are pricing in the inherent volatility of the firm's project-based revenue model rather than its underlying asset value.
The lack of stable P/FFO or P/AFFO metrics complicates traditional REIT valuation, as the company's earnings are heavily skewed by the timing of property sales. This valuation discount appears to reflect market skepticism regarding the sustainability of earnings in a rising interest rate environment.
NOI Margin Compression Signals Pressure
According to the company's income statement data, NOI margins contracted to 11.4% in 2024Q4 from a peak of 17.2% in 2022Q4, indicating that rising construction costs or competitive pricing pressures are likely eroding the profitability of the firm's core luxury residential development projects.
The downward trend in NOI margins suggests that LRE is struggling to maintain pricing power amidst Japan's construction labor shortages. Investors should monitor whether this margin contraction is a temporary byproduct of project mix or a structural shift in the firm's cost base.
Negative AFFO Challenges Dividend Sustainability
Based on reported figures, LRE's AFFO remains deeply negative, reaching -$96.79 per share in 2024Q4, which indicates that the company is currently unable to fund its dividend distributions from recurring cash flow after accounting for the necessary maintenance and leasing capital expenditures required to sustain its portfolio.
The disconnect between headline FFO and negative AFFO highlights the capital-intensive nature of the firm's development pipeline. This suggests that any dividend payments are likely funded through external financing or asset sales rather than organic operational cash flow, warranting caution regarding long-term sustainability.
Leverage Ratios Indicate Financial Sensitivity
As reported in recent financial statements, the company's debt-to-equity ratio fluctuated significantly, reaching 2.74 in 2024Q4, which, while lower than the 4.53 peak observed in 2023Q2, still indicates a reliance on external financing that may be sensitive to shifting interest rate environments in Japan.
While the interest coverage ratio of 98.60 in 2024Q4 appears robust, it may be distorted by the timing of project completions and non-recurring gains. The firm's reliance on debt to fund its development cycle suggests that any sustained increase in borrowing costs could materially impact future profitability.
Misapplication of Standard P/E Multiples
The most commonly misapplied metric for LRE is the standard P/E ratio, which fails to account for the significant non-cash depreciation charges inherent in real estate development and the lumpy nature of revenue recognition that characterizes the firm's luxury residential sales cycle.
Using P/E obscures the true cash-generating capacity of the underlying assets by ignoring the capital-intensive nature of property development. Analysts should instead prioritize FFO and AFFO metrics to better assess the firm's ability to generate recurring cash flow and sustain its dividend obligations.