Latest Ratios: P/E Ratio 62.5x · EV/EBITDA 7.5x · ROE 11.3%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $166M | $166M | $75M | $49M | $50M | — | — |
| Enterprise Value | $926M | $926M | $698M | $575M | $487M | — | — |
| P/E Ratio → | 62.51 | 21.83 | 18.49 | 19.79 | 26.61 | — | — |
| P/S Ratio | 1.38 | 1.07 | 0.64 | 0.49 | 0.54 | — | — |
| P/B Ratio | 3.11 | 3.29 | 0.90 | 1.04 | 1.00 | — | — |
| P/FCF | 1.85 | 1.85 | 2.13 | 0.89 | 0.97 | — | — |
| P/OCF | 1.85 | 1.85 | 1.27 | 0.89 | 0.97 | — | — |
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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.97 | 5.97 | 5.76 | 5.26 | — | — |
| EV / EBITDA | 7.53 | 7.09 | 7.31 | 7.47 | 6.18 | — | — |
| EV / EBIT | 10.99 | 10.99 | 11.61 | 12.59 | 12.93 | — | — |
| EV / FCF | — | 10.28 | 19.77 | 10.46 | 9.56 | — | — |
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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 30.1% | 30.1% | 87.0% | 85.0% | 85.2% | 86.9% | 87.7% |
| Operating Margin | 54.4% | 54.4% | 52.4% | 47.5% | 54.0% | 42.2% | 47.0% |
| Net Profit Margin | 4.9% | 4.9% | 3.5% | 2.5% | 2.0% | 6.1% | 14.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | 11.3% | 11.3% | 6.3% | 5.2% | 4.4% | 22.0% | 88.6% |
| ROA | 0.9% | 0.9% | 0.6% | 0.4% | 0.3% | 1.0% | 2.3% |
| ROIC | 8.3% | 8.3% | 7.2% | 6.7% | 7.5% | 5.5% | — |
| ROCE | 10.3% | 10.3% | 9.0% | 8.4% | 9.2% | 6.9% | 7.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 15.66 | 15.66 | 8.04 | 11.38 | 9.26 | 14.38 | 36.42 |
| Debt / EBITDA | 6.06 | 6.06 | 7.03 | 6.99 | 5.81 | 7.81 | 7.36 |
| Net Debt / Equity | — | 15.03 | 7.46 | 11.12 | 8.85 | 13.63 | 35.10 |
| Net Debt / EBITDA | 5.82 | 5.82 | 6.53 | 6.83 | 5.55 | 7.40 | 7.09 |
| Debt / FCF | — | 8.44 | 17.64 | 9.57 | 8.58 | 10.67 | 12.61 |
| Interest Coverage | 1.65 | 1.65 | 1.79 | 1.80 | 1.77 | 1.39 | 1.50 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 5.47 | 5.47 | 7.37 | 4.66 | 6.46 | 4.13 | 7.00 |
| Quick Ratio | 5.47 | 5.47 | 7.37 | 4.66 | 6.46 | 4.13 | 7.00 |
| Cash Ratio | 1.42 | 1.42 | 2.58 | 0.72 | 1.47 | 1.27 | 1.35 |
| Asset Turnover | — | 0.18 | 0.15 | 0.16 | 0.17 | 0.15 | 0.16 |
| 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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.9% | 4.6% | 5.4% | 5.8% | 1.3% | — | — |
| Payout Ratio | 100.8% | 100.8% | 98.5% | 115.1% | 34.4% | 28.4% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.6% | 4.6% | 5.4% | 5.1% | 3.8% | — | — |
| FCF Yield | 54.1% | 54.1% | 47.1% | 111.8% | 102.7% | — | — |
| Buyback Yield | 0.4% | 0.4% | 3.3% | 0.1% | 0.0% | — | — |
| Total Shareholder Yield | 5.2% | 5.0% | 8.7% | 5.9% | 1.3% | — | — |
| Shares Outstanding | — | $13M | $7M | $6M | $6M | $6M | $6M |
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying STRW stock.
Strawberry Fields REIT, Inc.'s current P/E ratio is 62.5x. The historical average is 21.7x. This places it at the 100th percentile of its historical range.
Strawberry Fields REIT, Inc.'s current EV/EBITDA is 7.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.0x.
Strawberry Fields REIT, Inc.'s return on equity (ROE) is 11.3%. The historical average is 23.0%.
Based on historical data, Strawberry Fields REIT, Inc. is trading at a P/E of 62.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Strawberry Fields REIT, Inc.'s current dividend yield is 4.85% with a payout ratio of 100.8%.
Strawberry Fields REIT, Inc. has 30.1% gross margin and 54.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Strawberry Fields REIT, Inc.'s Debt/EBITDA ratio is 6.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Extreme leverage on thin equity
Metrics are mathematically derived from official filings.
Multiples Mask Thin Equity Base
Based on reported figures, STRW trades at 3.05x book and a P/FFO that compressed from roughly 10x to 2.45x across ten quarters, a re-rating that may reflect market skepticism about balance sheet durability rather than a bargain entry point.
The collapse in P/FFO from 10.19x in 2024Q4 to 2.45x in 2026Q2 is driven by falling FFO per share from $1.45 to $1.00 alongside a stable $12.12 share price, which suggests the market is discounting the earnings base rather than repricing the equity. A 3.05x price-to-book multiple on an equity base of only $8.3M against $878.5M of assets is difficult to reconcile with conventional REIT NAV logic, and investors should monitor whether reported book value reflects the true economic value of the healthcare property portfolio. Because P/FFO and implied cap rate cannot be cleanly cross-checked against private transaction data, the valuation warrants further investigation before any conclusion on cheapness is drawn.
Payout Coverage Narrows Under Falling FFO
As reported in the financial statements, STRW's FFO payout ratio rose from 8.7% in 2024Q1 to 17.2% in 2026Q2, which remains low on paper but is paired with a falling FFO per share that may pressure coverage if the trend persists.
A payout ratio that stays under 20% would ordinarily signal ample dividend room, but here the ratio is rising because the dividend yield is holding near 1.2% while FFO per share declined roughly 31% from its 2024Q3 peak. AFFO per share is unavailable for most periods, so the AFFO payout test cannot be completed and the dividend safety conclusion rests on FFO alone. Investors should monitor whether FFO per share stabilizes, since continued erosion would narrow the cushion faster than the current low ratio suggests.
Debt Load Dwarfs Equity and Coverage
According to reported figures, STRW's debt-to-equity ratio climbed from 8.04 in 2024Q4 to 24.62 in 2026Q2, while interest coverage sits near 1.7x, a combination that leaves little margin for any decline in operating income.
Debt-to-equity near 25x means the equity cushion is extremely thin relative to the $803.3M debt load, so even a modest impairment to the property portfolio could erode most book equity. Interest coverage of roughly 1.6x to 1.9x across the period is tight for a leveraged real estate owner and suggests limited capacity to absorb a rise in borrowing costs or a drop in occupancy. Fixed-rate exposure, debt maturity profile, and refinancing terms are not disclosed in the supplied data, so the refinancing risk cannot be assessed and warrants further investigation.
Erratic NOI Margins Obscure Earnings Trend
Based on reported figures, STRW's NOI margin swung between roughly 30% and 90% across recent quarters, with 89.7% in 2026Q2 following 32.8% in 2026Q1, a volatility that may reflect classification or reporting effects rather than stable property economics.
A swing of nearly 57 percentage points in one quarter is not consistent with stable healthcare property operations and suggests the reported NOI series may be affected by reclassification, one-time items, or incomplete allocation of expenses. ROE has recovered to 5.2% from 1.6% a year earlier, yet this improvement sits on an equity base of only $8.3M, so the percentage return is sensitive to small changes in book value. Same-store NOI growth and the split between organic growth and acquisitions are not disclosed, which limits any conclusion about whether FFO growth was operationally driven.
Price-to-Book Misleads on Leveraged Healthcare REIT
The most commonly misapplied ratio here is price-to-book, which at 3.05x appears to signal premium valuation but is distorted by the $8.3M equity base, obscuring that book value may not reflect fair value of the underlying healthcare real estate.
For a REIT, book equity is shaped by depreciation schedules and historical cost accounting, so P/B can overstate or understate economic value depending on the age and carrying basis of the portfolio. Here, with equity at under 1% of total assets, the ratio is highly sensitive to small revaluations and offers little information about portfolio worth. A more appropriate framing would be P/FFO adjusted for maintenance capex combined with an implied cap rate on net operating income against enterprise value, although the capex and NOI inputs needed for that calculation are incomplete in the supplied data.