Starwood Property Trust, Inc. (STWD) Financial Ratios
17 years of historical data (2009–2025) · Real Estate · REIT - Mortgage
EV/EBITDA
↑
18.34
↑+37% vs avg
5yr avg: 13.38
30Y Low8.7·High26.3
P/FCF
↓
8.74
↓-41% vs avg
5yr avg: 14.70
30Y Low5.3·High129.6
P/B Ratio
↓
0.75
↓-14% vs avg
5yr avg: 0.88
30Y Low0.6·High1.4
ROE
↓
5.6%
↑-22% vs avg
5yr avg: 7.2%
30Y Low-0%·High13%
Debt/EBITDA
↑
14.59
↑+69% vs avg
5yr avg: 8.64
30Y Low5.3·High15.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
STWD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Starwood Property Trust, Inc. trades at 13.7x earnings, 7% below its 5-year average of 14.6x, sitting at the 38th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a discount of 43%. On a free-cash-flow basis, the stock trades at 8.7x P/FCF, 41% below the 5-year average of 14.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.2B | $6.1B | $6.1B | $6.5B | $5.2B | $7.2B | $5.5B | $7.1B | $5.4B | $5.6B | $5.3B |
| Enterprise Value | $27.8B | $27.7B | $14.7B | $15.2B | $14.6B | $14.5B | $11.9B | $18.3B | $16.0B | $13.2B | $10.9B |
| P/E Ratio → | 13.69 | 14.76 | 16.92 | 19.64 | 5.93 | 15.99 | 16.64 | 13.89 | 14.08 | 14.05 | 14.63 |
| P/S Ratio | 3.29 | 3.23 | 2.98 | 3.18 | 3.33 | 6.07 | 4.79 | 5.37 | 4.88 | 6.35 | 6.75 |
| P/B Ratio | 0.75 | 0.81 | 0.84 | 0.93 | 0.72 | 1.08 | 1.12 | 1.38 | 1.11 | 1.22 | 1.16 |
| P/FCF | 8.74 | 8.57 | 9.82 | 12.96 | 27.47 | — | 5.34 | — | 10.24 | — | 6.73 |
| P/OCF | 6.33 | 6.21 | 9.40 | 12.35 | 24.23 | — | 5.21 | — | 9.28 | — | 9.53 |
P/E links to full P/E history page with 30-year chart
STWD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Starwood Property Trust, Inc.'s enterprise value stands at 18.3x EBITDA, 37% above its 5-year average of 13.4x. The Real Estate sector median is 17.0x, placing the stock at a 8% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 14.71 | 7.20 | 7.41 | 9.42 | 12.18 | 10.45 | 13.87 | 14.33 | 14.99 | 13.85 |
| EV / EBITDA | 18.34 | 18.26 | 8.72 | 10.37 | 13.14 | 16.41 | 16.08 | 18.65 | 21.22 | 26.35 | 15.98 |
| EV / EBIT | 19.39 | 15.75 | 8.38 | 8.20 | 8.15 | 15.30 | 14.75 | 17.27 | 19.11 | 17.84 | 17.96 |
| EV / FCF | — | 39.03 | 23.77 | 30.18 | 77.58 | — | 11.65 | — | 30.05 | — | 13.80 |
STWD Profitability
Margins and return-on-capital ratios measuring operating efficiency
Starwood Property Trust, Inc. earns an operating margin of 76.2%, significantly above the Real Estate sector average of 24.8%. Operating margins have expanded from 68.9% to 76.2% over the past 3 years, signaling improving operational efficiency. ROE of 5.6% is modest. ROIC of 4.8% represents below-average returns on invested capital.
Margins
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 | 80.5% | 80.5% | 86.2% | 85.8% | 80.5% | 62.2% | 61.5% | 64.4% | 53.1% | 53.9% | 59.8% |
| Operating Margin | 76.2% | 76.2% | 80.5% | 68.9% | 68.4% | 67.1% | 56.6% | 65.8% | 55.6% | 46.3% | 78.2% |
| Net Profit Margin | 21.9% | 21.9% | 17.6% | 16.5% | 56.1% | 37.7% | 29.2% | 38.7% | 34.7% | 45.5% | 46.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.6% | 5.6% | 5.1% | 4.8% | 12.6% | 7.8% | 6.6% | 10.2% | 8.1% | 8.8% | 8.4% |
| ROA | 0.7% | 0.7% | 0.5% | 0.5% | 1.1% | 0.5% | 0.4% | 0.7% | 0.6% | 0.6% | 0.4% |
| ROIC | 4.8% | 4.8% | 7.8% | 6.6% | 5.2% | 4.7% | 3.5% | 4.1% | 3.4% | 2.7% | 4.8% |
| ROCE | 2.7% | 2.7% | 2.5% | 1.9% | 1.3% | 1.0% | 0.8% | 1.2% | 4.6% | 3.6% | 6.1% |
STWD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Starwood Property Trust, Inc. carries a Debt/EBITDA ratio of 14.6x, which is highly leveraged (84% above the sector average of 7.9x). Net debt stands at $21.6B ($22.1B total debt minus $499M cash). Interest coverage of just 1.4x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.95 | 2.95 | 1.25 | 1.26 | 1.35 | 1.12 | 1.44 | 2.29 | 2.20 | 1.74 | 1.36 |
| Debt / EBITDA | 14.59 | 14.59 | 5.34 | 6.05 | 8.72 | 8.48 | 9.47 | 12.01 | 14.31 | 15.92 | 9.10 |
| Net Debt / Equity | — | 2.88 | 1.20 | 1.23 | 1.31 | 1.09 | 1.32 | 2.18 | 2.15 | 1.66 | 1.22 |
| Net Debt / EBITDA | 14.26 | 14.26 | 5.12 | 5.92 | 8.49 | 8.23 | 8.70 | 11.43 | 13.99 | 15.18 | 8.20 |
| Debt / FCF | — | 30.47 | 13.95 | 17.22 | 50.11 | — | 6.31 | — | 19.82 | — | 7.08 |
| Interest Coverage | 1.38 | 1.38 | 1.30 | 1.29 | 2.25 | 2.13 | 1.92 | 2.08 | 2.05 | 2.50 | 2.63 |
STWD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.09x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 0.36x to 0.09x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.09 | 0.09 | — | 0.36 | — | — | 0.42 | — | 0.02 | 0.02 | 0.02 |
| Quick Ratio | 0.09 | 0.09 | — | 0.36 | — | — | 0.42 | — | 0.02 | 0.02 | 0.02 |
| Cash Ratio | 0.06 | 0.06 | — | 0.20 | — | — | 0.36 | — | 0.00 | 0.01 | 0.01 |
| Asset Turnover | — | 0.03 | 0.03 | 0.03 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
STWD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Starwood Property Trust, Inc. returns 11.9% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 162.5%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 7.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 11.9% | 11.0% | 10.2% | 9.2% | 11.4% | 7.7% | 10.0% | 7.6% | 9.4% | 9.0% | 8.6% |
| Payout Ratio | 162.5% | 162.5% | 172.3% | 177.2% | 67.9% | 123.7% | 164.9% | 105.6% | 132.2% | 125.2% | 125.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.3% | 6.8% | 5.9% | 5.1% | 16.9% | 6.3% | 6.0% | 7.2% | 7.1% | 7.1% | 6.8% |
| FCF Yield | 11.4% | 11.7% | 10.2% | 7.7% | 3.6% | — | 18.7% | — | 9.8% | — | 14.9% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% | 0.0% | 0.2% | 0.0% | 0.4% |
| Total Shareholder Yield | 11.9% | 11.0% | 10.2% | 9.2% | 11.4% | 7.7% | 10.7% | 7.6% | 9.6% | 9.0% | 9.0% |
| Shares Outstanding | — | $337M | $321M | $311M | $282M | $297M | $282M | $285M | $276M | $262M | $242M |
Peer Comparison
Compare STWD with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 STWDYou | $6B | 13.7 | 18.3 | 8.7 | 80.5% | 76.2% | 5.6% | 4.8% | 14.6 |
 BXMT | $3B | 28.3 | 16.2 | 11.1 | 76.9% | 71.6% | 3.0% | 4.3% | 14.0 |
 RC | $289M | -1.2 | 47.7 | — | 87.7% | 24.2% | -12.8% | 1.2% | 47.4 |
 ARI | $1B | 13.4 | 19.4 | 34.0 | 80.1% | 65.4% | 6.8% | 4.0% | 16.7 |
 KREF | $454M | -6.7 | 18.5 | 6.8 | 88.3% | 59.3% | -3.6% | 3.4% | 17.1 |
 TRTX | $665M | 15.1 | 15.1 | 7.4 | 79.3% | 73.0% | 5.5% | 4.7% | 12.9 |
 GPMT | $63M | -1.1 | 20.6 | 23.7 | 83.0% | 43.6% | -7.0% | 2.6% | 20.6 |
 BRSP | $722M | -21.3 | 18.7 | 9.9 | 49.6% | 39.5% | -3.2% | 3.0% | 14.8 |
 LADR | $1B | 20.0 | 17.2 | 14.9 | 71.8% | 62.0% | 4.3% | 4.4% | 12.7 |
 ACRE | $256M | -281.7 | 18.2 | 13.0 | 57.4% | 72.4% | -0.2% | 2.9% | 14.9 |
 FBRT | $649M | 13.2 | 48.5 | 2.2 | — | — | 5.4% | 1.2% | 43.6 |
| Real Estate Median | — | 24.1 | 17.0 | 15.4 | 49.3% | 24.8% | 3.7% | 2.7% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 17 years · Updated daily
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STWD — Frequently Asked Questions
Quick answers to the most common questions about buying STWD stock.
What is Starwood Property Trust, Inc.'s P/E ratio?
Starwood Property Trust, Inc.'s current P/E ratio is 13.7x. The historical average is 13.5x. This places it at the 38th percentile of its historical range.
What is Starwood Property Trust, Inc.'s EV/EBITDA?
Starwood Property Trust, Inc.'s current EV/EBITDA is 18.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.4x.
What is Starwood Property Trust, Inc.'s ROE?
Starwood Property Trust, Inc.'s return on equity (ROE) is 5.6%. The historical average is 7.7%.
Is STWD stock overvalued?
Based on historical data, Starwood Property Trust, Inc. is trading at a P/E of 13.7x. This is at the 38th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Starwood Property Trust, Inc.'s dividend yield?
Starwood Property Trust, Inc.'s current dividend yield is 11.88% with a payout ratio of 162.5%.
What are Starwood Property Trust, Inc.'s profit margins?
Starwood Property Trust, Inc. has 80.5% gross margin and 76.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Starwood Property Trust, Inc. have?
Starwood Property Trust, Inc.'s Debt/EBITDA ratio is 14.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.