Latest Ratios: P/E Ratio 29.8x · EV/EBITDA 24.5x · ROE 5.4%. (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 | $3.6B | $2.9B | $2.4B | $2.9B | $2.8B | $4.5B | $2.8B | $2.5B | $2.0B | $2.3B | $2.6B |
| Enterprise Value | $4.8B | $4.1B | $3.7B | $4.4B | $4.2B | $5.7B | $3.9B | $3.6B | $3.2B | $4.2B | $4.2B |
| P/E Ratio → | 29.75 | 27.24 | 62.46 | 121.42 | 26.37 | 11.66 | 16.09 | 9.23 | 8.73 | 29.24 | 29.19 |
| P/S Ratio | 10.10 | 8.29 | 6.60 | 8.48 | 8.81 | 13.05 | 8.62 | 7.75 | 5.00 | 5.95 | 5.98 |
| P/B Ratio | 1.75 | 1.42 | 1.12 | 1.28 | 1.18 | 1.93 | 1.43 | 1.47 | 1.47 | 1.74 | 1.82 |
| P/FCF | 21.74 | 17.73 | 12.24 | 15.08 | 17.50 | 21.88 | 15.43 | 14.49 | 9.77 | 10.96 | 11.12 |
| P/OCF | 18.82 | 15.39 | 11.21 | 13.79 | 14.57 | 20.37 | 14.11 | 13.15 | 9.08 | 10.23 | 10.91 |
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 | — | 11.72 | 10.39 | 12.78 | 12.95 | 16.56 | 11.85 | 11.13 | 8.03 | 10.63 | 9.81 |
| EV / EBITDA | 24.53 | 16.46 | 14.01 | 17.21 | 17.75 | 21.31 | 9.19 | 8.91 | 9.77 | 13.35 | 11.87 |
| EV / EBIT | 96.62 | 23.13 | 34.12 | 53.31 | 25.57 | 13.15 | 40.55 | 34.37 | 10.21 | 24.90 | 23.63 |
| EV / FCF | — | 25.05 | 19.26 | 22.73 | 25.73 | 27.77 | 21.21 | 20.81 | 15.69 | 19.59 | 18.25 |
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 | -30.7% | -30.7% | 29.3% | 29.0% | 26.7% | 34.7% | 87.3% | 87.1% | 46.7% | 43.0% | 50.3% |
| Operating Margin | 14.0% | 14.0% | 18.2% | 18.3% | 14.6% | 24.4% | 78.1% | 77.7% | 38.7% | 34.3% | 43.1% |
| Net Profit Margin | 32.3% | 32.3% | 12.4% | 8.9% | 35.4% | 111.2% | 55.5% | 85.9% | 57.5% | 21.9% | 22.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.4% | 5.4% | 2.0% | 1.3% | 4.8% | 17.7% | 9.9% | 18.2% | 16.9% | 6.2% | 6.7% |
| ROA | 3.1% | 3.1% | 1.1% | 0.7% | 2.8% | 10.2% | 5.5% | 9.1% | 7.0% | 2.4% | 2.6% |
| ROIC | 1.1% | 1.1% | 1.4% | 1.3% | 1.0% | 1.9% | 6.6% | 7.1% | 4.0% | 3.2% | 4.3% |
| ROCE | 1.4% | 1.4% | 1.7% | 1.6% | 1.2% | 2.3% | 8.0% | 8.6% | 5.0% | 4.1% | 5.5% |
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 | 0.67 | 0.67 | 0.69 | 0.73 | 0.58 | 0.60 | 0.63 | 0.71 | 1.01 | 1.45 | 1.23 |
| Debt / EBITDA | 5.50 | 5.50 | 5.49 | 6.58 | 5.91 | 5.23 | 2.92 | 3.01 | 4.20 | 6.23 | 4.88 |
| Net Debt / Equity | — | 0.59 | 0.64 | 0.65 | 0.56 | 0.52 | 0.54 | 0.64 | 0.89 | 1.37 | 1.17 |
| Net Debt / EBITDA | 4.81 | 4.81 | 5.11 | 5.79 | 5.68 | 4.52 | 2.50 | 2.70 | 3.68 | 5.88 | 4.64 |
| Debt / FCF | — | 7.32 | 7.02 | 7.64 | 8.23 | 5.89 | 5.78 | 6.32 | 5.91 | 8.63 | 7.13 |
| Interest Coverage | 3.00 | 3.00 | 1.64 | 1.76 | 3.58 | 9.27 | 1.75 | 1.62 | 3.89 | 2.15 | 2.03 |
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 | 85.31 | 85.31 | 1.40 | 3.12 | 1.31 | 2.18 | 2.07 | 1.91 | 2.64 | 0.57 | 1.63 |
| Quick Ratio | 85.31 | 85.31 | 1.40 | 3.12 | 1.31 | 2.18 | 2.07 | 1.91 | 2.65 | 0.57 | 1.63 |
| Cash Ratio | 56.24 | 56.24 | 0.75 | 2.42 | 0.36 | 1.22 | 1.39 | 1.18 | 1.47 | 0.36 | 0.51 |
| Asset Turnover | — | 0.10 | 0.09 | 0.08 | 0.08 | 0.09 | 0.09 | 0.10 | 0.13 | 0.11 | 0.12 |
| 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 | 4.6% | 5.7% | 6.7% | 5.3% | 5.0% | 2.9% | 4.2% | 4.9% | 8.9% | 7.4% | 6.5% |
| Payout Ratio | 145.2% | 145.2% | 355.1% | 500.1% | 125.2% | 33.5% | 64.6% | 43.9% | 77.2% | 201.1% | 173.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.4% | 3.7% | 1.6% | 0.8% | 3.8% | 8.6% | 6.2% | 10.8% | 11.4% | 3.4% | 3.4% |
| FCF Yield | 4.6% | 5.6% | 8.2% | 6.6% | 5.7% | 4.6% | 6.5% | 6.9% | 10.2% | 9.1% | 9.0% |
| Buyback Yield | 0.1% | 0.1% | 0.1% | 0.1% | 4.6% | 0.0% | 0.4% | 0.1% | 2.5% | 0.0% | 0.3% |
| Total Shareholder Yield | 4.7% | 5.8% | 6.8% | 5.4% | 9.7% | 2.9% | 4.5% | 5.0% | 11.4% | 7.4% | 6.8% |
| Shares Outstanding | — | $59M | $58M | $58M | $56M | $57M | $54M | $48M | $48M | $48M | $48M |
Includes 30+ ratios · 30 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying LXP stock.
LXP Industrial Trust's current P/E ratio is 29.8x. The historical average is 28.2x. This places it at the 83th percentile of its historical range.
LXP Industrial Trust's current EV/EBITDA is 24.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.8x.
LXP Industrial Trust's return on equity (ROE) is 5.4%. The historical average is 5.5%.
Based on historical data, LXP Industrial Trust is trading at a P/E of 29.8x. This is at the 83th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
LXP Industrial Trust's current dividend yield is 4.58% with a payout ratio of 145.2%.
LXP Industrial Trust has -30.7% gross margin and 14.0% operating margin. Operating margin between 10-20% is typical for established companies.
LXP Industrial Trust's Debt/EBITDA ratio is 5.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Volatile FFO and non-cash charges
Metrics are mathematically derived from official filings.
Premium Multiple Lacks FFO Support
LXP trades near 34.9x quarterly P/FFO and 19.3x EV/EBITDA, multiples that appear rich for a REIT whose FFO per share swung from negative $0.81 to $2.39 across recent quarters, based on reported figures from the provided data. Investors should not treat any single quarter as a stable valuation anchor.
The P/FFO of roughly 34.9x on the latest quarter sits well above the 33.8x to 37.0x band seen over the ten-quarter window, suggesting the market is pricing in a recovery or transition premium rather than current cash earnings. Because P/FFO and P/AFFO are the REIT-appropriate substitutes for P/E, the trailing P/E of 33.6x is not a meaningful anchor here. A 4.6% dividend yield combined with a price near $61.18 implies a relatively modest implied cap rate, which warrants comparison against private industrial transaction cap rates before concluding whether the stock is fairly valued.
NOI Margin Too Erratic to Anchor
LXP's NOI margin ranged from negative 145.6% in 2025Q3 to 82.0% in 2026Q3, a dispersion that, based on reported figures, appears driven by impairments and asset-sale adjustments rather than steady property-level economics.
Margins in the 24% to 38% range during 2024 and early 2025 suggest a more normal underlying property profitability level that the recent swings obscure. Investors should monitor whether the 82.0% latest figure reflects a durable step-up or a one-time gain from dispositions. Same-store NOI growth, which the provided data does not disclose, would be needed to separate organic performance from portfolio-mix effects.
Payout Ratio Erratic Across Quarters
LXP's FFO payout ratio moved from 48.2% in 2025Q3 to 92.0% in 2026Q1 and was not computable in the 2026Q2 loss quarter, based on reported figures suggesting coverage has been inconsistent.
A payout ratio near 50% to 60% in several 2025 quarters implied a comfortable cushion, but the 92.0% reading in 2026Q1 suggests the margin of safety narrowed sharply during the period. Because the FFO and AFFO figures diverge in the negative quarter, distributable cash appears too volatile to treat the current 4.6% yield as clearly sustainable without further evidence of recurring cash generation.
Low Reported Leverage Needs Verification
LXP's debt-to-equity ratio of 0.63 to 0.70 and interest coverage that ranged from 1.1x to 7.99x suggest modest balance sheet leverage, though the coverage swings indicate earnings-based protection is uneven.
A debt-to-equity figure in the mid-0.60s appears conservative for the REIT sector, yet the metric uses book equity rather than gross assets, which may understate true leverage relative to property values. Interest coverage falling to roughly 1.1x in 2026Q2 and 2024Q3 suggests thin earnings cushions in weaker quarters, and investors should monitor debt maturity and refinancing terms, which the provided data does not disclose.
Net Margin Overstates Repeatable Earnings
Based on reported figures, LXP's headline net margin of 32.3% exceeds its 14.0% operating margin, a gap that may rely on asset-sale gains and risks being misread as recurring profitability on a P/E basis.
The most commonly misapplied metric here is trailing P/E, which at 33.6x is distorted by real estate depreciation and disposition gains and does not reflect distributable cash. FFO and AFFO per share, which the data supplies, are the more appropriate denominators, and investors should adjust for straight-line rent and capital expenditure before relying on any earnings-based multiple.