Wheeler Real Estate Investment Trust, Inc. (WHLRD) Financial Ratios
16 years of historical data (2010–2025) · Real Estate · REIT - Retail
EV/EBITDA
↑
77.44
↑+244% vs avg
5yr avg: 22.53
30Y Low7.4·High76.2
P/FCF
↑
1028.93
↑+407% vs avg
5yr avg: 203.01
30Y Low0.2·High2.7
P/B Ratio
↑
43.75
↑+408% vs avg
5yr avg: 8.62
30Y Low0.0·High43.0
ROE
↑
8.3%
↓+294% vs avg
5yr avg: -4.3%
30Y Low-66%·High8%
Debt/EBITDA
↓
8.14
↓-13% vs avg
5yr avg: 9.31
30Y Low8.0·High26.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
WHLRD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Wheeler Real Estate Investment Trust, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 1028.9x P/FCF, 407% above the 5-year average of 203.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.1B | $4.1B | $5M | $2M | $4M | $5M | $6M | $5M | $3M | $6M | $7M |
| Enterprise Value | $4.6B | $4.5B | $466M | $490M | $482M | $332M | $346M | $352M | $355M | $311M | $311M |
| P/E Ratio → | -1.08 | — | — | — | — | — | 0.02 | — | — | — | — |
| P/S Ratio | 41.27 | 40.53 | 0.05 | 0.02 | 0.06 | 0.08 | 0.10 | 0.08 | 0.05 | 0.10 | 0.16 |
| P/B Ratio | 43.75 | 42.96 | 0.04 | 0.02 | 0.03 | 0.05 | 0.05 | 0.04 | 0.03 | 0.05 | 0.04 |
| P/FCF | 1028.93 | 1010.34 | 1.37 | 2.67 | 0.20 | 0.48 | 0.45 | 0.40 | 0.19 | 0.37 | 0.75 |
| P/OCF | 196.03 | 192.49 | 0.18 | 0.12 | 0.14 | 0.30 | 0.38 | 0.33 | 0.14 | 0.25 | 0.62 |
P/E links to full P/E history page with 30-year chart
WHLRD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Wheeler Real Estate Investment Trust, Inc.'s enterprise value stands at 77.4x EBITDA, 244% above its 5-year average of 22.5x. The Real Estate sector median is 16.9x, placing the stock at a 358% 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 | — | 45.11 | 4.45 | 4.79 | 6.29 | 5.41 | 5.69 | 5.59 | 5.40 | 5.32 | 7.04 |
| EV / EBITDA | 77.44 | 76.18 | 7.41 | 8.46 | 10.93 | 9.67 | 9.81 | 11.40 | 8.61 | 10.82 | 12.13 |
| EV / EBIT | 126.13 | 93.12 | 15.35 | 14.48 | 37.32 | 14.02 | 18.21 | 21.95 | 25.10 | 121.20 | 62.16 |
| EV / FCF | — | 1124.62 | 134.50 | 536.42 | 21.68 | 31.23 | 25.60 | 28.10 | 21.63 | 18.91 | 34.02 |
WHLRD Profitability
Margins and return-on-capital ratios measuring operating efficiency
Wheeler Real Estate Investment Trust, Inc. earns an operating margin of 36.4%, above the Real Estate sector average of 24.8%. Operating margins have expanded from 28.7% to 36.4% over the past 3 years, signaling improving operational efficiency. ROE of 8.3% 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 | 21.4% | 21.4% | 66.4% | 65.9% | 66.4% | 68.0% | 69.0% | 69.7% | 30.7% | 28.9% | 26.3% |
| Operating Margin | 36.4% | 36.4% | 35.9% | 28.7% | 32.1% | 31.8% | 30.3% | 17.2% | 21.5% | 4.4% | 11.3% |
| Net Profit Margin | 8.7% | 8.7% | -9.2% | -4.6% | -16.2% | -15.4% | 0.4% | -12.8% | -25.1% | -23.2% | -26.9% |
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 | 8.3% | 8.3% | -7.4% | -3.2% | -10.0% | -9.0% | 0.2% | -6.9% | -13.5% | -9.7% | -9.0% |
| ROA | 1.4% | 1.4% | -1.4% | -0.7% | -2.2% | -2.0% | 0.1% | -1.6% | -3.4% | -2.9% | -3.0% |
| ROIC | 4.8% | 4.8% | 4.7% | 3.5% | 3.5% | 3.3% | 3.0% | 1.7% | 2.4% | 0.4% | 1.0% |
| ROCE | 6.0% | 6.0% | 6.0% | 4.6% | 4.5% | 4.3% | 3.9% | 2.2% | 2.9% | 0.5% | 1.3% |
WHLRD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Wheeler Real Estate Investment Trust, Inc. carries a Debt/EBITDA ratio of 8.1x, which is highly leveraged (roughly in line with the sector average of 7.9x). Net debt stands at $460M ($484M total debt minus $24M 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 | 5.11 | 5.11 | 4.32 | 3.57 | 3.32 | 3.63 | 3.09 | 3.12 | 3.05 | 2.57 | 2.02 |
| Debt / EBITDA | 8.14 | 8.14 | 8.02 | 8.73 | 11.47 | 10.19 | 9.86 | 11.41 | 8.98 | 11.03 | 12.43 |
| Net Debt / Equity | — | 4.86 | 3.95 | 3.44 | 3.13 | 3.39 | 3.02 | 3.07 | 2.91 | 2.47 | 1.93 |
| Net Debt / EBITDA | 7.74 | 7.74 | 7.33 | 8.42 | 10.83 | 9.52 | 9.64 | 11.24 | 8.54 | 10.61 | 11.86 |
| Debt / FCF | — | 114.28 | 133.13 | 533.75 | 21.49 | 30.75 | 25.15 | 27.70 | 21.44 | 18.54 | 33.27 |
| Interest Coverage | 1.44 | 1.44 | 1.03 | 1.22 | 0.60 | 0.72 | — | — | — | — | — |
WHLRD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Wheeler Real Estate Investment Trust, Inc.'s current ratio of 8.91x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 1.52x to 8.91x 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 | 8.91 | 8.91 | 2.67 | 1.52 | 1.64 | 2.90 | 2.61 | 2.61 | — | — | — |
| Quick Ratio | 8.91 | 8.91 | 2.67 | 1.52 | 1.64 | 2.90 | 2.61 | 2.61 | — | — | — |
| Cash Ratio | 6.71 | 6.71 | 1.52 | 0.53 | 0.67 | 1.28 | 0.31 | 0.47 | — | — | — |
| Asset Turnover | — | 0.17 | 0.16 | 0.15 | 0.11 | 0.13 | 0.12 | 0.13 | 0.13 | 0.13 | 0.09 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
WHLRD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Wheeler Real Estate Investment Trust, Inc. returns 0.2% to shareholders annually primarily through dividends.
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 | 0.2% | 0.2% | — | — | — | — | — | — | 100.0% | 100.0% | 100.0% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
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 | — | — | — | — | — | — | 4041.9% | — | — | — | — |
| FCF Yield | 0.1% | 0.1% | 72.9% | 37.5% | 511.2% | 207.4% | 222.9% | 249.2% | 530.7% | 272.8% | 133.1% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 18.2% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.2% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 18.2% | 0.0% | 100.0% | 100.0% | 100.0% |
| Shares Outstanding | — | $107M | $175000 | $187000 | $338913 | $337000 | $336746 | $335828 | $321397 | $300494 | $292374 |
Peer Comparison
Compare WHLRD 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 |
|---|---|---|---|---|---|---|---|---|---|
 WHLRDYou | $4B | -1.1 | 77.4 | 1028.9 | 21.4% | 36.4% | 8.3% | 4.8% | 8.1 |
 WHLR | $376M | -0.0 | 15.3 | 17.8 | 66.8% | 31.9% | 8.3% | 4.2% | 8.8 |
 NXRT | $737M | -23.1 | 18.4 | 8.8 | 84.3% | 11.1% | -8.9% | 1.1% | 12.6 |
 PSTL | $809M | 49.0 | 20.8 | 21.5 | 88.2% | 35.8% | 4.2% | 3.7% | 6.9 |
 MDRR | $14M | -5.7 | 10.1 | 175.4 | 73.3% | 9.6% | -10.6% | 1.2% | 7.6 |
 SQFT | $3M | -1.2 | 19.0 | — | 66.9% | -2.0% | -53.2% | -0.2% | 19.9 |
 KIM | $16B | 29.0 | 18.0 | 21.0 | 54.7% | 35.2% | 5.5% | 3.0% | 6.3 |
 SITC | $265M | 1.5 | 5.1 | 13.5 | -5.7% | -1.3% | 41.8% | -0.2% | 1.7 |
 BRX | $9B | 24.4 | 16.2 | 14.4 | 75.2% | 36.7% | 12.9% | 4.6% | 6.4 |
 UE | $3B | 30.3 | 16.7 | 15.5 | 8.6% | 26.8% | 6.8% | 3.2% | 6.3 |
 WMT | $923B | 42.4 | 22.2 | 61.8 | 24.9% | 4.2% | 21.5% | 14.4% | 1.5 |
| Real Estate Median | — | 24.2 | 16.9 | 15.6 | 49.2% | 24.8% | 3.6% | 2.6% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 16 years · Updated daily
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Run the NumbersIs WHLRD Undervalued Right Now?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationWHLRD vs WHLR — which is the better buy?
Side-by-side revenue, margins, P/E and 10-year returns vs Wheeler Real Estate Investment Trust, Inc..
Compare NowWHLRD — Frequently Asked Questions
Quick answers to the most common questions about buying WHLRD stock.
What is Wheeler Real Estate Investment Trust, Inc.'s P/E ratio?
Wheeler Real Estate Investment Trust, Inc.'s current P/E ratio is -1.1x. The historical average is 0.0x.
What is Wheeler Real Estate Investment Trust, Inc.'s EV/EBITDA?
Wheeler Real Estate Investment Trust, Inc.'s current EV/EBITDA is 77.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.5x.
What is Wheeler Real Estate Investment Trust, Inc.'s ROE?
Wheeler Real Estate Investment Trust, Inc.'s return on equity (ROE) is 8.3%. The historical average is -14.7%.
Is WHLRD stock overvalued?
Based on historical data, Wheeler Real Estate Investment Trust, Inc. is trading at a P/E of -1.1x. Compare with industry peers and growth rates for a complete picture.
What is Wheeler Real Estate Investment Trust, Inc.'s dividend yield?
Wheeler Real Estate Investment Trust, Inc.'s current dividend yield is 0.16%.
What are Wheeler Real Estate Investment Trust, Inc.'s profit margins?
Wheeler Real Estate Investment Trust, Inc. has 21.4% gross margin and 36.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Wheeler Real Estate Investment Trust, Inc. have?
Wheeler Real Estate Investment Trust, Inc.'s Debt/EBITDA ratio is 8.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.