Latest Ratios: P/E Ratio -34.6x · EV/EBITDA 17.7x · ROE -2.5%. (2009–2025 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 | $2.4B | $1.3B | $1.6B | $1.9B | $1.7B | $2.9B | $2.5B | $3.5B | $2.1B | $2.6B | $2.2B |
| Enterprise Value | $4.7B | $3.6B | $4.0B | $4.4B | $4.4B | $5.6B | $5.1B | $6.2B | $4.8B | $3.5B | $3.1B |
| P/E Ratio → | -34.57 | — | — | — | — | — | — | 42.56 | 157.28 | 31.24 | 46.48 |
| P/S Ratio | 1.58 | 0.90 | 1.12 | 1.37 | 1.25 | 3.99 | 5.54 | 2.17 | 2.54 | 3.38 | 2.64 |
| P/B Ratio | 0.96 | 0.52 | 0.58 | 0.68 | 0.57 | 0.92 | 0.75 | 0.96 | 0.56 | 1.73 | 1.34 |
| P/FCF | 10.85 | 8.70 | 5.90 | 8.24 | 10.78 | — | — | 8.88 | 15.52 | 13.34 | 8.93 |
| P/OCF | 9.54 | 5.30 | 5.90 | 8.24 | 6.27 | 41.35 | — | 8.87 | 15.50 | 13.34 | 8.92 |
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 | — | 2.44 | 2.74 | 3.10 | 3.17 | 7.68 | 11.56 | 3.86 | 5.75 | 4.50 | 3.82 |
| EV / EBITDA | 17.75 | 11.88 | 12.71 | 15.81 | 17.35 | 41.86 | — | 13.39 | 27.17 | 15.54 | 12.89 |
| EV / EBIT | 61.88 | 75.91 | 51.83 | 129.76 | — | — | — | 27.97 | 71.69 | 25.57 | 27.16 |
| EV / FCF | — | 23.62 | 14.49 | 18.64 | 27.24 | — | — | 15.76 | 35.17 | 17.75 | 12.92 |
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 | -6.7% | -6.7% | 25.2% | 24.9% | 27.5% | 17.0% | -11.5% | 31.8% | 31.7% | 32.9% | 34.5% |
| Operating Margin | 5.1% | 5.1% | 5.8% | 2.7% | 1.1% | -12.2% | -66.1% | 14.2% | 8.1% | 15.7% | 17.1% |
| Net Profit Margin | -4.5% | -4.5% | -0.3% | -5.5% | -6.3% | -25.2% | -88.4% | 7.2% | 1.6% | 13.0% | 9.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.5% | -2.5% | -0.2% | -2.6% | -2.8% | -5.8% | -11.4% | 3.1% | 0.5% | 6.4% | 4.4% |
| ROA | -1.2% | -1.2% | -0.1% | -1.3% | -1.4% | -3.0% | -6.2% | 1.7% | 0.3% | 3.7% | 2.5% |
| ROIC | 1.1% | 1.1% | 1.2% | 0.5% | 0.2% | -1.1% | -3.6% | 2.7% | 1.1% | 3.7% | 3.9% |
| ROCE | 1.5% | 1.5% | 1.7% | 0.8% | 0.3% | -1.5% | -4.9% | 3.6% | 1.5% | 4.8% | 5.1% |
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 | 0.96 | 0.96 | 0.92 | 0.93 | 0.88 | 0.87 | 0.85 | 0.75 | 0.73 | 0.59 | 0.62 |
| Debt / EBITDA | 8.11 | 8.11 | 8.19 | 9.48 | 10.65 | 20.54 | — | 5.91 | 15.66 | 3.97 | 4.12 |
| Net Debt / Equity | — | 0.89 | 0.85 | 0.86 | 0.86 | 0.85 | 0.82 | 0.75 | 0.71 | 0.57 | 0.60 |
| Net Debt / EBITDA | 7.50 | 7.50 | 7.53 | 8.82 | 10.49 | 20.10 | — | 5.84 | 15.18 | 3.86 | 3.98 |
| Debt / FCF | — | 14.92 | 8.58 | 10.40 | 16.46 | — | — | 6.87 | 19.65 | 4.41 | 3.99 |
| Interest Coverage | 0.46 | 0.46 | 0.75 | 0.32 | -0.01 | -1.14 | — | 2.05 | 1.23 | 3.63 | 2.63 |
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 | 0.70 | 0.70 | 0.72 | 0.19 | 0.11 | 0.38 | 0.70 | 0.44 | 0.53 | 0.58 | 0.58 |
| Quick Ratio | 0.70 | 0.70 | 0.72 | 0.19 | 0.11 | 0.38 | 0.70 | 0.44 | 0.53 | 0.58 | 0.58 |
| Cash Ratio | 0.56 | 0.56 | 0.58 | 0.15 | 0.05 | 0.17 | 0.45 | 0.08 | 0.18 | 0.14 | 0.18 |
| Asset Turnover | — | 0.28 | 0.26 | 0.24 | 0.23 | 0.12 | 0.07 | 0.25 | 0.12 | 0.30 | 0.29 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 566025.00 | — | — |
| 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 | 0.2% | 0.4% | 0.3% | 0.3% | 0.3% | 0.2% | 2.2% | 5.3% | 5.0% | 4.1% | 4.9% |
| Payout Ratio | — | — | — | — | — | — | — | 160.1% | 789.4% | 107.4% | 142.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | 2.3% | 0.6% | 3.2% | 2.2% |
| FCF Yield | 9.2% | 11.5% | 16.9% | 12.1% | 9.3% | — | — | 11.3% | 6.4% | 7.5% | 11.2% |
| Buyback Yield | 3.3% | 5.9% | 1.0% | 4.8% | 4.0% | 0.0% | 0.1% | 0.1% | 0.1% | 3.7% | 10.6% |
| Total Shareholder Yield | 3.5% | 6.3% | 1.3% | 5.0% | 4.4% | 0.2% | 2.2% | 5.4% | 5.1% | 7.8% | 15.5% |
| Shares Outstanding | — | $117M | $120M | $122M | $130M | $131M | $131M | $131M | $74M | $70M | $72M |
Includes 30+ ratios · 17 years · Updated daily
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Quick answers to the most common questions about buying PEB stock.
Pebblebrook Hotel Trust's current P/E ratio is -34.6x. The historical average is 79.1x.
Pebblebrook Hotel Trust's current EV/EBITDA is 17.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.1x.
Pebblebrook Hotel Trust's return on equity (ROE) is -2.5%. The historical average is 0.3%.
Based on historical data, Pebblebrook Hotel Trust is trading at a P/E of -34.6x. Compare with industry peers and growth rates for a complete picture.
Pebblebrook Hotel Trust's current dividend yield is 0.19%.
Pebblebrook Hotel Trust has -6.7% gross margin and 5.1% operating margin.
Pebblebrook Hotel Trust's Debt/EBITDA ratio is 8.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Elevated leverage and volatile AFFO coverage
Metrics are mathematically derived from official filings.
Valuation Unanchored by Negative Earnings Base
Based on reported figures, PEB trades at 0.96 times book and 15.37 times EV/EBITDA, while P/FFO is not meaningful given quarterly FFO per share swinging from 0.60 to negative in the latest period.
The conventional P/E of -23.47 is uninformative for a REIT because depreciation depresses GAAP earnings, so the market appears to be anchoring on book value and enterprise-level EBITDA instead. A price-to-book near 1.0 suggests the market is pricing the hotel real estate close to its carried value, which may indicate skepticism about future cash generation rather than a clear discount. Investors should monitor whether the implied cap rate, derived from NOI against enterprise value, holds above private transaction levels for comparable urban and resort assets.
NOI Margins Volatile Across Recent Quarters
As reported in the quarterly data, PEB's NOI margin ranged from negative 10.6 percent in 2025Q4 to 31.3 percent in 2024Q2, a spread that points to period-specific cost timing rather than a stable operating trend.
The wide swings in property-level margin suggest that labor, insurance, and renovation-related disruption are distorting quarterly results more than underlying demand shifts. FFO growth has also been erratic, with a 113.3 percent year-over-year decline in 2026Q3 contrasting with a 33.0 percent gain in 2026Q1, which warrants caution against extrapolating any single quarter. Investors should determine whether recent FFO strength is organic, driven by same-property RevPAR, or propped up by disposition activity that may dilute future earnings.
Distribution Coverage Thin and Uneven
Based on reported figures, PEB's FFO payout ratio moved from 1.5 percent in 2026Q2 to 17.3 percent in 2024Q4, while AFFO turned negative at negative 0.17 per share in 2026Q3, leaving distribution safety difficult to confirm.
Low reported payout ratios in several quarters may appear comfortable, but they are measured against FFO that has itself been volatile and at times negative, which weakens the reliability of the coverage signal. The negative AFFO in 2026Q3 implies that maintenance and renovation capital absorbed more cash than operations generated in that period. Investors should monitor whether the dividend continues to be funded from non-operating sources, such as asset sale proceeds, as this would represent a less durable basis for distributions.
Debt Near Equity Limits Financial Flexibility
According to recent SEC filings, PEB's debt-to-equity ratio sat at 1.00 in 2026Q3, up from 0.89 in 2024Q3, while interest coverage was negative in 2026Q3 at negative 0.98 times.
Rising leverage alongside a shrinking equity base suggests that losses are eroding the capital cushion available to absorb demand softness in gateway markets. Negative interest coverage in the latest quarter indicates that operating earnings did not cover financing costs on that period's reported figures, though quarterly coverage has been highly volatile. Refinancing exposure, fixed-rate proportion, and maturity profile are not included in the supplied data, so the severity of rate sensitivity cannot be confirmed and warrants further investigation.
Debt-to-Equity Misleads Without Gross Asset Basis
The most commonly misapplied metric for PEB is debt-to-equity, which uses depreciated book equity and can overstate leverage relative to the underlying hotel real estate when assets are carried at historical cost.
Because equity is reduced by years of depreciation and recent losses, a debt-to-equity ratio near 1.00 may exaggerate leverage compared with a debt-to-gross-assets measure that references the real estate base. The more appropriate substitute is debt-to-gross-assets, supplemented by an implied cap rate analysis and AFFO-based coverage rather than FFO alone. Quarterly FFO and P/FFO figures are also unreliable here given their volatility, so AFFO and multi-period averages should anchor any conclusion.