Latest Ratios: P/E Ratio 33.1x · EV/EBITDA 18.1x · ROE 4.2%. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $836M | $393M | $294M | $293M | $269M | $271M | $118M | $88M | — | — |
| Enterprise Value | $1.2B | $796M | $589M | $532M | $465M | $361M | $241M | $139M | — | — |
| P/E Ratio → | 33.13 | 34.34 | 62.14 | 121.33 | 69.19 | 132.00 | — | — | — | — |
| P/S Ratio | 7.49 | 4.10 | 3.86 | 4.60 | 5.05 | 6.79 | 4.84 | 7.75 | — | — |
| P/B Ratio | 1.50 | 1.09 | 0.93 | 0.97 | 0.95 | 1.02 | 0.99 | 1.25 | — | — |
| P/FCF | 18.76 | 10.46 | 9.58 | 11.48 | 12.89 | 17.84 | 14.05 | 32.34 | — | — |
| P/OCF | 18.79 | 8.83 | 8.79 | 10.32 | 10.96 | 15.86 | 12.60 | 30.62 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.31 | 7.72 | 8.35 | 8.71 | 9.03 | 9.85 | 12.30 | — | — |
| EV / EBITDA | 18.14 | 13.65 | 13.59 | 17.00 | 18.41 | 18.11 | 24.24 | 35.90 | — | — |
| EV / EBIT | 36.10 | 23.87 | 28.78 | 38.00 | 45.85 | 66.69 | 118.51 | 2026.51 | — | — |
| EV / FCF | — | 21.20 | 19.18 | 20.80 | 22.23 | 23.73 | 28.58 | 51.30 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 88.2% | 88.2% | 75.2% | 75.9% | 76.0% | 76.5% | 79.5% | 77.2% | 75.6% | 76.9% |
| Operating Margin | 35.8% | 35.8% | 27.7% | 22.0% | 18.2% | 14.8% | 8.3% | 0.6% | 33.5% | 30.6% |
| Net Profit Margin | 14.8% | 14.8% | 8.6% | 5.8% | 7.2% | 5.1% | -1.4% | -9.2% | 14.8% | 16.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.2% | 4.2% | 2.1% | 1.3% | 1.4% | 1.1% | -0.4% | -3.2% | — | — |
| ROA | 2.0% | 2.0% | 1.1% | 0.7% | 0.9% | 0.6% | -0.2% | -1.2% | 3.3% | 3.3% |
| ROIC | 3.7% | 3.7% | 2.8% | 2.1% | 1.7% | 1.5% | 0.8% | 0.1% | 6.8% | 5.6% |
| ROCE | 5.0% | 5.0% | 3.6% | 2.7% | 2.3% | 2.2% | 1.6% | 0.1% | 7.8% | 6.4% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.13 | 1.13 | 0.93 | 0.80 | 0.69 | 0.36 | 1.04 | 0.91 | — | — |
| Debt / EBITDA | 6.94 | 6.94 | 6.84 | 7.69 | 7.79 | 4.79 | 12.55 | 16.49 | 8.45 | 10.85 |
| Net Debt / Equity | — | 1.12 | 0.93 | 0.79 | 0.69 | 0.34 | 1.02 | 0.74 | — | — |
| Net Debt / EBITDA | 6.91 | 6.91 | 6.80 | 7.62 | 7.73 | 4.50 | 12.32 | 13.27 | 8.39 | 10.80 |
| Debt / FCF | — | 10.74 | 9.60 | 9.33 | 9.34 | 5.89 | 14.53 | 18.96 | 13.16 | 16.38 |
| Interest Coverage | 2.19 | 2.19 | 1.70 | 1.50 | 1.88 | 1.97 | — | — | 1.73 | 1.38 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.72 | 10.72 | 0.39 | 0.44 | 0.86 | 0.56 | 0.08 | 0.26 | 0.87 | 0.93 |
| Quick Ratio | 10.72 | 10.72 | 0.39 | 0.44 | 0.86 | 0.56 | 0.08 | 0.26 | 0.55 | 0.59 |
| Cash Ratio | 2.28 | 2.28 | 0.06 | 0.11 | 0.16 | 0.28 | 0.03 | 0.22 | 0.14 | 0.10 |
| Asset Turnover | — | 0.13 | 0.12 | 0.11 | 0.11 | 0.11 | 0.09 | 0.08 | 0.22 | 0.20 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 3.13 | 2.90 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 5.7% | 7.8% | 9.5% | 6.7% | 6.5% | 4.4% | 5.1% | 3.6% | — | — |
| Payout Ratio | 217.3% | 217.3% | 424.3% | 531.1% | 454.9% | 584.8% | — | — | 465.2% | 480.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.0% | 2.9% | 1.6% | 0.8% | 1.4% | 0.8% | — | — | — | — |
| FCF Yield | 5.3% | 9.6% | 10.4% | 8.7% | 7.8% | 5.6% | 7.1% | 3.1% | — | — |
| Buyback Yield | 0.0% | 0.1% | 0.2% | 0.2% | 0.1% | 0.1% | 0.2% | 0.0% | — | — |
| Total Shareholder Yield | 5.7% | 7.9% | 9.7% | 6.9% | 6.6% | 4.5% | 5.2% | 3.6% | — | — |
| Shares Outstanding | — | $24M | $23M | $20M | $19M | $14M | $7M | $5M | $5M | $5M |
Includes 30+ ratios · 9 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 PSTL stock.
Postal Realty Trust, Inc.'s current P/E ratio is 33.1x. The historical average is 83.8x.
Postal Realty Trust, Inc.'s current EV/EBITDA is 18.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.1x.
Postal Realty Trust, Inc.'s return on equity (ROE) is 4.2%. The historical average is 0.9%.
Based on historical data, Postal Realty Trust, Inc. is trading at a P/E of 33.1x. Compare with industry peers and growth rates for a complete picture.
Postal Realty Trust, Inc.'s current dividend yield is 5.69% with a payout ratio of 217.3%.
Postal Realty Trust, Inc. has 88.2% gross margin and 35.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Postal Realty Trust, Inc.'s Debt/EBITDA ratio is 6.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Acquisition-dependent growth and USPS restructuring
Metrics are mathematically derived from official filings.
Premium Multiple Reflects Bond-Proxy Pricing
Based on reported figures, PSTL trades at 16.42x trailing P/FFO on the latest quarter, a multiple that sits above the 13.5x to 15.0x range seen across the prior seven quarters and implies the market is pricing in sustained external growth.
The multiple expansion from roughly 13.6x to 16.4x over recent quarters suggests investors are rewarding the consolidation thesis and the rate-insensitive character of federally leased assets. Because P/FFO and P/AFFO replace P/E for this REIT, the 47.19x trailing P/E reported in the snapshot is distorted by real estate depreciation and should not be used for valuation. Investors should monitor whether the premium holds if Treasury yields rise, since the stock's bond-proxy profile implies its multiple is sensitive to the risk-free rate.
NOI Margin Volatility Obscures Operating Trend
As reported in the quarterly ratio data, PSTL's NOI margin swung between 30.9% in 2026Q1 and 114.5% in 2025Q4, a range too wide to reflect property-level operating performance alone and suggesting timing or classification effects in reported NOI.
Margins above 100% are not economically meaningful for an operating property owner and point to reporting or allocation effects between rental revenue, NOI, and other income lines. The more stable reading of roughly 75% to 80% across most quarters appears to be the better indicator of underlying property profitability. Investors should treat the quarterly NOI margin as directional only until the reconciliation between reported revenue and NOI is verified against full filings.
AFFO Payout Ratio Tightens Toward Full Distribution
Based on reported figures, PSTL's FFO payout ratio ranged from 56.0% to 109.4% over ten quarters, while the AFFO payout ratio reached about 73% in 2026Q3, leaving a thinner cushion than the lower FFO payout ratio alone would suggest.
The FFO payout ratio has improved from above 100% in 2024 to the mid-60s to mid-70s range recently, which suggests dividend coverage has strengthened on a headline basis. However, the AFFO payout ratio, which deducts recurring capital needs, sits materially higher than the FFO ratio and leaves less retained cash for reinvestment. Investors should monitor whether AFFO growth keeps pace with the 5.7% dividend yield, since a reversal in acquisition-driven FFO growth would compress coverage quickly.
Low Reported Leverage Requires Verification
As reported in the financial statements, PSTL's debt-to-equity moved from 0.88 in 2024Q2 to 1.13 in 2025Q4 before easing to 0.77 in 2026Q3, while interest coverage of 2.43x in the latest quarter sits modestly above the 1.4x to 2.8x range of recent periods.
The debt-to-equity figure is measured against book equity rather than gross assets, so it does not directly reflect the debt-to-gross-assets metric standard for REITs and may understate leverage relative to property value. Interest coverage in the 1.4x to 2.8x band is thin for a REIT and leaves limited headroom if refinancing costs rise. Investors should check debt maturity schedules and fixed-rate exposure in the filings, since the data provided does not disclose these directly.
Equity-Funded Growth Tests Per-Share Accretion
Based on reported quarterly data, FFO per share rose from $0.28 in 2024Q2 to $0.41 in 2026Q3, a 46% gain, while management's $110 million year-to-date equity raise means per-share growth depends on how quickly new capital is deployed into accretive properties.
FFO growth of 25% to 80% year over year reflects strong acquisition activity, but growth funded by issuing shares is only accretive if the yield on new assets exceeds the cost of equity. The reported occupancy and G&A efficiency data are not provided here, so portfolio quality conclusions are limited to the growth pattern. Investors should watch whether FFO per share continues to rise as the share count expands.
Leverage and Yield Trail Net-Lease Peers
Based on peer context data, PSTL's 5.7% dividend yield and 1.13x peak debt-to-equity compare with Gladstone Commercial at 14.2% yield and 2.50x debt-to-equity, Four Corners at 6.0% yield and 0.74x leverage, suggesting PSTL sits between peers on balance sheet risk.
PSTL's yield is below Gladstone Commercial but in line with Four Corners, while its leverage is more conservative than Gladstone Commercial and broadly comparable to Four Corners. Four Corners' higher reported net margin of 38.2% versus PSTL's stable mid-70s NOI margins reflects differing lease structures rather than a clear quality gap. The peer set includes companies with very different scale and market caps, so comparisons on P/FFO and cap rate should be treated as directional rather than precise.
P/E Misapplied to a Depreciation-Heavy REIT
The most commonly misapplied ratio for PSTL is trailing P/E of 47.19x, which is distorted by real estate depreciation that reduces net income by roughly $7M per quarter relative to FFO, obscuring the cash earnings the stock actually generates.
Using P/E on a REIT penalizes the business for non-cash depreciation that does not reflect economic loss on federally leased property, which overstates the apparent valuation premium. The appropriate replacements are P/FFO and P/AFFO, with AFFO the more conservative choice because it deducts recurring capital needs. Investors should base valuation on P/AFFO and implied cap rate rather than headline P/E when comparing PSTL with peers.