Latest Ratios: P/E Ratio 21.3x · EV/EBITDA 17.2x · ROE 8.4%. (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 | $534M | $424M | $564M | $450M | $454M | $715M | $393M | $520M | $450M | $468M | $424M |
| Enterprise Value | $1.0B | $940M | $943M | $856M | $874M | $1.1B | $834M | $968M | $883M | $856M | $811M |
| P/E Ratio → | 21.27 | 17.64 | 19.46 | 15.88 | 11.17 | 35.64 | 45.61 | — | 21.82 | 19.34 | 17.32 |
| P/S Ratio | 5.49 | 4.36 | 6.23 | 4.97 | 4.93 | 8.64 | 4.80 | 6.20 | 5.69 | 6.16 | 6.01 |
| P/B Ratio | 1.71 | 1.42 | 1.83 | 1.46 | 1.43 | 2.33 | 1.35 | 1.78 | 1.51 | 1.57 | 1.45 |
| P/FCF | 14.22 | 11.31 | 14.45 | 9.32 | 11.47 | 16.05 | 11.43 | 15.88 | 12.74 | — | — |
| P/OCF | 14.22 | 11.31 | 14.45 | 8.47 | 10.28 | 14.69 | 11.10 | 14.34 | 10.56 | 10.50 | 13.50 |
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 | — | 9.67 | 10.41 | 9.44 | 9.48 | 13.37 | 10.18 | 11.55 | 11.17 | 11.27 | 11.48 |
| EV / EBITDA | 17.20 | 15.41 | 12.71 | 11.39 | 11.22 | 13.87 | 12.69 | 16.91 | 10.73 | 11.39 | 11.63 |
| EV / EBIT | 31.04 | 18.47 | 18.76 | 17.57 | 14.61 | 19.42 | 26.59 | 26.99 | 22.41 | 25.94 | 24.81 |
| EV / FCF | — | 25.06 | 24.14 | 17.71 | 22.06 | 24.84 | 24.25 | 29.57 | 25.00 | — | — |
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 | 23.6% | 23.6% | 80.2% | 81.9% | 83.2% | 83.3% | 83.4% | 83.2% | 85.3% | 85.5% | 86.1% |
| Operating Margin | 34.8% | 34.8% | 55.1% | 55.5% | 58.7% | 68.9% | 58.8% | 47.9% | 45.9% | 42.1% | 44.9% |
| Net Profit Margin | 26.2% | 26.2% | 33.6% | 32.7% | 45.7% | 47.0% | 33.5% | 21.5% | 26.1% | 31.8% | 34.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.4% | 8.4% | 9.9% | 9.5% | 13.5% | 13.0% | 9.4% | 6.1% | 6.9% | 8.2% | 8.8% |
| ROA | 3.1% | 3.1% | 4.0% | 3.8% | 5.5% | 5.1% | 3.5% | 2.3% | 2.7% | 3.3% | 3.5% |
| ROIC | 3.4% | 3.4% | 5.3% | 5.2% | 5.7% | 6.0% | 4.9% | 4.1% | 3.8% | 3.5% | 3.7% |
| ROCE | 4.3% | 4.3% | 7.0% | 7.1% | 7.5% | 7.9% | 6.5% | 5.4% | 4.9% | 4.4% | 4.7% |
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 | 1.77 | 1.77 | 1.36 | 1.40 | 1.34 | 1.33 | 1.55 | 1.57 | 1.50 | 1.35 | 1.38 |
| Debt / EBITDA | 8.69 | 8.69 | 5.67 | 5.75 | 5.47 | 5.11 | 6.90 | 8.02 | 5.45 | 5.35 | 5.79 |
| Net Debt / Equity | — | 1.72 | 1.23 | 1.32 | 1.32 | 1.28 | 1.51 | 1.53 | 1.45 | 1.30 | 1.32 |
| Net Debt / EBITDA | 8.46 | 8.46 | 5.10 | 5.40 | 5.38 | 4.91 | 6.70 | 7.83 | 5.26 | 5.16 | 5.55 |
| Debt / FCF | — | 13.75 | 9.68 | 8.39 | 10.59 | 8.79 | 12.81 | 13.69 | 12.26 | — | — |
| Interest Coverage | 2.14 | 2.14 | 2.58 | 2.59 | 3.40 | 3.18 | — | — | — | — | — |
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 | 1.15 | 1.15 | 2.27 | 0.50 | 0.46 | 0.80 | 0.65 | 0.76 | 1.01 | 3.23 | 3.52 |
| Quick Ratio | 1.15 | 1.15 | 2.27 | 0.50 | 0.46 | 0.76 | 0.65 | 0.76 | 1.28 | 3.98 | 4.28 |
| Cash Ratio | 0.53 | 0.53 | 1.62 | 0.31 | 0.13 | 0.40 | 0.29 | 0.32 | 0.51 | 1.57 | 1.92 |
| Asset Turnover | — | 0.11 | 0.12 | 0.12 | 0.12 | 0.11 | 0.11 | 0.11 | 0.10 | 0.10 | 0.10 |
| Inventory Turnover | — | — | — | — | — | 10.87 | — | — | — | — | — |
| 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 | 7.6% | 9.2% | 6.8% | 8.5% | 8.3% | 5.2% | 7.5% | 6.8% | 7.6% | 6.8% | 6.7% |
| Payout Ratio | 153.1% | 153.1% | 126.4% | — | — | — | — | — | 166.6% | 131.3% | 115.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.7% | 5.7% | 5.1% | 6.3% | 9.0% | 2.8% | 2.2% | — | 4.6% | 5.2% | 5.8% |
| FCF Yield | 7.0% | 8.8% | 6.9% | 10.7% | 8.7% | 6.2% | 8.7% | 6.3% | 7.8% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 2.1% | 1.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 7.6% | 9.2% | 6.8% | 10.6% | 9.5% | 5.2% | 7.5% | 6.8% | 7.6% | 6.8% | 6.7% |
| Shares Outstanding | — | $21M | $21M | $21M | $20M | $20M | $20M | $19M | $19M | $18M | $17M |
Portfolio transition execution risk
Based on reported financial data, OLP's P/FFO multiple has hovered near 14x, suggesting that the market is applying a significant discount to the REIT as it navigates a difficult transition from legacy retail and theater assets toward a more modern, industrial-focused portfolio in the Eastern United States.
The current valuation appears to reflect investor skepticism regarding the speed and success of the portfolio repositioning. Given the volatility in FFO per share, the market may be struggling to assign a stable multiple, warranting further investigation into whether the current discount is a temporary mispricing or a permanent reflection of the company's smaller market capitalization and liquidity constraints.
According to quarterly filings, OLP's NOI margin has exhibited extreme instability, swinging from a negative 150.7% in 2025Q4 to 73.7% in 2026Q1, which suggests that non-recurring charges and accounting adjustments are currently obscuring the true underlying profitability of the company's core industrial and retail property operations.
This margin volatility implies that the REIT's operational efficiency is currently compromised by the costs associated with shedding legacy assets. Investors should monitor whether these margins stabilize as the portfolio composition shifts, as the current fluctuations make it difficult to assess the organic growth potential of the remaining industrial assets.
As reported in financial statements, the FFO payout ratio has shown significant inconsistency, with recent figures dropping to 1.7% in 2026Q1, which suggests that the dividend's long-term safety is increasingly reliant on non-recurring capital events rather than the stability of recurring cash flow from the underlying real estate.
The erratic nature of the payout ratio indicates that the dividend may be at risk if the company cannot successfully replace the cash flow lost from its retail and theater dispositions. A more consistent AFFO-based payout analysis is required to determine if the current distribution level is truly supported by the company's core operational earnings.
Based on the company's quarterly filings, the debt-to-equity ratio reached 1.77 in 2025Q4, a level that appears elevated for the sector and suggests that OLP is utilizing significant leverage to fund its strategic pivot while simultaneously managing a fragmented mortgage maturity profile that warrants further investigation.
The reliance on property-level mortgage debt rather than unsecured financing limits the REIT's financial flexibility in a rising interest rate environment. This leverage profile may constrain the company's ability to execute future acquisitions, as refinancing existing debt at higher rates could lead to a permanent contraction in net margins.
The most commonly misapplied metric for OLP is the standard P/E ratio, which fails to account for the significant non-cash depreciation charges inherent in real estate ownership, thereby obscuring the REIT's true cash-generating capacity and leading to a distorted view of its valuation relative to industrial peers.
Investors should instead focus on P/FFO or P/AFFO, which adjust for these non-cash items to provide a clearer picture of operational performance. Relying on P/E in this context is misleading, as it ignores the capital-intensive nature of the business and the specific accounting nuances that define the REIT's financial reporting.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying OLP stock.
One Liberty Properties, Inc.'s current P/E ratio is 21.3x. The historical average is 16.0x. This places it at the 86th percentile of its historical range.
One Liberty Properties, Inc.'s current EV/EBITDA is 17.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.6x.
One Liberty Properties, Inc.'s return on equity (ROE) is 8.4%. The historical average is 11.1%.
Based on historical data, One Liberty Properties, Inc. is trading at a P/E of 21.3x. This is at the 86th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
One Liberty Properties, Inc.'s current dividend yield is 7.63% with a payout ratio of 153.1%.
One Liberty Properties, Inc. has 23.6% gross margin and 34.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
One Liberty Properties, Inc.'s Debt/EBITDA ratio is 8.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.