Latest Ratios: P/E Ratio -0.1x · EV/EBITDA N/A · ROE -36.9%. (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 | $347032 | $298716 | $450830 | $220331 | $1M | $22M | $5M | $2M | $1M | $1M | $1M |
| Enterprise Value | $18M | $18M | $36M | $34M | $36M | $43M | $23M | $10M | $9M | $10M | $11M |
| P/E Ratio → | -0.11 | — | — | — | — | 4.99 | 5.24 | 4.09 | 1.27 | 2.68 | — |
| P/S Ratio | 0.17 | 0.15 | 0.15 | 0.10 | 0.16 | 2.66 | 1.23 | 0.77 | 0.54 | 0.58 | 0.65 |
| P/B Ratio | 0.06 | 0.06 | 0.07 | 0.01 | 0.03 | 0.39 | 0.35 | 0.13 | 0.05 | 0.06 | 0.06 |
| P/FCF | — | — | — | — | 0.20 | 2.81 | — | — | 0.85 | 1.10 | 1.46 |
| P/OCF | — | — | — | — | 0.20 | 2.81 | 1.80 | 1.23 | 0.85 | 1.10 | 1.46 |
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 | — | 8.97 | 11.69 | 15.18 | 4.26 | 5.04 | 5.49 | 4.68 | 4.49 | 5.00 | 5.46 |
| EV / EBITDA | — | — | — | — | 5.93 | 5.65 | 5.73 | 5.04 | 4.49 | 7.27 | 12.87 |
| EV / EBIT | — | — | — | — | — | 6.79 | 7.03 | 6.92 | 6.73 | 8.20 | 14.39 |
| EV / FCF | — | — | — | — | 5.30 | 5.33 | — | — | 7.00 | 9.40 | 12.20 |
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 | 23.0% | 23.0% | 34.5% | -9.7% | 89.7% | 99.7% | 99.4% | 99.0% | 98.9% | 98.9% | 99.3% |
| Operating Margin | -21.9% | -21.9% | -48.8% | -200.6% | 49.8% | 74.3% | 87.0% | 80.3% | 66.7% | 36.2% | 12.5% |
| Net Profit Margin | -109.1% | -109.1% | -810.2% | -646.4% | -167.3% | 60.8% | 50.8% | 43.4% | 42.5% | 36.2% | 12.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -36.9% | -36.9% | -131.7% | -38.3% | -27.8% | 14.0% | 15.4% | 5.7% | 4.2% | 3.6% | 1.6% |
| ROA | -6.0% | -6.0% | -42.5% | -18.4% | -16.6% | 8.2% | 5.6% | 3.2% | 3.9% | 3.4% | 1.2% |
| ROIC | -1.0% | -1.0% | -2.1% | -4.7% | 4.0% | 8.4% | 10.1% | 5.3% | 3.5% | 1.8% | 0.7% |
| ROCE | -1.7% | -1.7% | -3.8% | -6.7% | 5.2% | 10.3% | 9.7% | 6.0% | 6.2% | 3.4% | 1.2% |
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 | 3.89 | 3.89 | 5.54 | 1.16 | 0.85 | 0.40 | 1.56 | 1.86 | 0.48 | 0.49 | 0.50 |
| Debt / EBITDA | — | — | — | — | 6.17 | 3.09 | 5.81 | 12.02 | 4.84 | 7.26 | 12.19 |
| Net Debt / Equity | — | 3.45 | 5.21 | 1.09 | 0.79 | 0.35 | 1.20 | 0.65 | 0.39 | 0.43 | 0.47 |
| Net Debt / EBITDA | — | — | — | — | 5.71 | 2.67 | 4.44 | 4.20 | 3.94 | 6.42 | 11.33 |
| Debt / FCF | — | — | — | — | 5.11 | 2.52 | — | — | 6.15 | 8.30 | 10.74 |
| Interest Coverage | -0.07 | -0.07 | -5.39 | -4.32 | -7.11 | 5.51 | 2.86 | 2.80 | — | 2.47 | — |
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 | 3.72 | 3.72 | 1.56 | 3.33 | 5.79 | 6.80 | 21.37 | 23.30 | 3.55 | 2.42 | 1.43 |
| Quick Ratio | 3.72 | 3.72 | 1.56 | 3.33 | 5.79 | 6.80 | 21.37 | 23.30 | 22.35 | 21.46 | 1.43 |
| Cash Ratio | 0.87 | 0.87 | 0.11 | 0.12 | 0.60 | 0.88 | 7.28 | 22.50 | 3.51 | 2.39 | 1.37 |
| Asset Turnover | — | 0.07 | 0.07 | 0.03 | 0.10 | 0.10 | 0.11 | 0.06 | 0.09 | 0.09 | 0.09 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | 999999.00 |
| 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 | — | — | — | 100.0% | 36.7% | 2.9% | 5.3% | 16.6% | 26.1% | 24.2% | 21.7% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 20.0% | 19.1% | 24.4% | 78.6% | 37.3% | — |
| FCF Yield | — | — | — | — | 512.7% | 35.6% | — | — | 117.8% | 91.1% | 68.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 100.0% | 36.7% | 2.9% | 5.3% | 16.6% | 26.1% | 24.2% | 21.7% |
| Shares Outstanding | — | $34139 | $33897 | $33897 | $33777 | $32648 | $19734 | $18716 | $19192 | $18786 | $18377 |
Tenant insolvency and liquidity
Based on reported financial data, Power REIT's P/FFO multiples remain highly erratic and effectively non-informative, with recent quarterly figures like 115.84 in 2026Q1 highlighting that traditional valuation metrics are currently distorted by the company's persistent inability to generate positive funds from operations.
The extreme volatility in P/FFO multiples suggests that the market is struggling to price the company as a functioning REIT, likely treating it instead as a distressed asset play. Investors should monitor the implied cap rate, which remains obscured by the negative NOI, indicating that the current share price may be driven more by technical factors than by the underlying real estate value.
As reported in quarterly filings, NOI margins have fluctuated wildly from a peak of 80.4% in 2025Q3 to a low of 0.3% in 2025Q1, illustrating the structural difficulty of maintaining consistent property-level profitability within the company's current Controlled Environment Agriculture portfolio.
The lack of margin stability suggests that the company's property-level income is highly sensitive to tenant performance and potential lease defaults. This volatility implies that the current cost structure is not yet optimized for the scale of the portfolio, warranting further investigation into whether these margin swings are temporary or indicative of a permanent decline in asset quality.
According to the company's balance sheet data, the debt-to-equity ratio has climbed to 4.68 as of 2026Q1, reflecting a precarious capital structure where the debt load is increasingly disproportionate to the rapidly shrinking equity base of the REIT.
The elevated leverage ratio appears to be a byproduct of asset impairments rather than strategic borrowing, which may limit the company's ability to access capital markets for future growth. Investors should monitor the interest coverage ratio, which has frequently turned negative, suggesting that the current debt service requirements may be unsustainable without significant asset sales or external liquidity.
As evidenced by the company's financial statements, the most commonly misapplied metric for Power REIT is the standard P/E ratio, which fails to account for the significant non-cash depreciation and impairment charges that routinely distort the bottom-line earnings of a specialty REIT.
Using P/E to evaluate this REIT obscures the true cash-generating capacity of the portfolio by including non-cash accounting entries that do not reflect actual liquidity. Analysts should instead focus on FFO and AFFO to better understand the company's ability to cover its obligations, as these metrics provide a more accurate, albeit currently negative, view of the REIT's operational performance.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying PW stock.
Power REIT's current P/E ratio is -0.1x. The historical average is 2.3x.
Power REIT's return on equity (ROE) is -36.9%. The historical average is -2.7%.
Based on historical data, Power REIT is trading at a P/E of -0.1x. Compare with industry peers and growth rates for a complete picture.
Power REIT has 23.0% gross margin and -21.9% operating margin.