W. P. Carey Inc. (WPC) Financial Ratios
29 years of historical data (1997–2025) · Real Estate · REIT - Diversified
EV/EBITDA
↑
18.84
↑+46% vs avg
5yr avg: 12.90
30Y Low5.3·High19.4
P/FCF
↓
14.31
+2% vs avg
5yr avg: 13.99
30Y Low7.1·High41.2
P/B Ratio
↓
1.94
+15% vs avg
5yr avg: 1.68
30Y Low0.8·High2.2
ROE
↓
5.6%
-12% vs avg
5yr avg: 6.4%
30Y Low-2%·High20%
Debt/EBITDA
↑
6.79
↑+43% vs avg
5yr avg: 4.75
30Y Low1.0·High8.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
WPC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
W. P. Carey Inc. trades at 33.8x earnings, 22% above its 5-year average of 27.6x, sitting at the 81st percentile of its historical range. Compared to the Real Estate sector median P/E of 24.1x, the stock trades at a premium of 40%. On a free-cash-flow basis, the stock trades at 14.3x P/FCF, roughly in line with the 5-year average of 14.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $15.6B | $14.2B | $12.0B | $14.0B | $15.3B | $14.7B | $12.1B | $13.4B | $7.5B | $7.3B | $6.2B |
| Enterprise Value | $24.2B | $22.8B | $19.6B | $21.6B | $23.0B | $21.5B | $18.7B | $19.4B | $13.7B | $11.4B | $10.5B |
| P/E Ratio → | 33.75 | 30.50 | 26.07 | 19.76 | 25.59 | 35.86 | 26.58 | 44.02 | 18.28 | 26.35 | 23.23 |
| P/S Ratio | 9.10 | 8.29 | 7.62 | 8.05 | 10.41 | 11.65 | 10.32 | 11.07 | 8.15 | 8.47 | 6.82 |
| P/B Ratio | 1.94 | 1.75 | 1.42 | 1.61 | 1.70 | 1.94 | 1.76 | 1.93 | 1.10 | 2.14 | 1.81 |
| P/FCF | 14.31 | 13.04 | 7.08 | 14.69 | 17.06 | 18.10 | 20.33 | 20.76 | 18.75 | 16.67 | 12.17 |
| P/OCF | 12.18 | 11.10 | 6.55 | 13.03 | 15.28 | 15.88 | 15.07 | 16.53 | 14.79 | 14.00 | 11.33 |
P/E links to full P/E history page with 30-year chart
WPC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
W. P. Carey Inc.'s enterprise value stands at 18.8x EBITDA, 46% above its 5-year average of 12.9x. The Real Estate sector median is 17.0x, placing the stock at a 11% 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 | — | 13.28 | 12.41 | 12.46 | 15.64 | 17.01 | 15.96 | 15.98 | 14.83 | 13.24 | 11.53 |
| EV / EBITDA | 18.84 | 17.75 | 10.69 | 10.43 | 12.57 | 13.05 | 12.19 | 12.28 | 12.14 | 11.19 | 10.18 |
| EV / EBIT | 31.70 | 28.64 | 24.54 | 25.93 | 31.59 | 35.01 | 34.91 | 34.59 | 29.01 | 25.91 | 23.59 |
| EV / FCF | — | 20.89 | 11.52 | 22.73 | 25.63 | 26.43 | 31.44 | 29.96 | 34.10 | 26.06 | 20.59 |
WPC Profitability
Margins and return-on-capital ratios measuring operating efficiency
W. P. Carey Inc. earns an operating margin of 44.4%, significantly above the Real Estate sector average of 24.8%. Operating margins have compressed from 84.4% to 44.4% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 5.6% is modest. ROIC of 3.5% 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 | 28.6% | 28.6% | 92.4% | 92.0% | 94.7% | 95.4% | 95.4% | 93.6% | 95.4% | 94.5% | 93.2% |
| Operating Margin | 44.4% | 44.4% | 83.5% | 84.4% | 86.3% | 87.0% | 87.4% | 85.2% | 85.0% | 82.5% | 80.6% |
| Net Profit Margin | 27.2% | 27.2% | 29.2% | 40.8% | 40.7% | 32.5% | 38.9% | 25.2% | 44.6% | 32.2% | 29.5% |
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% | 5.4% | 8.0% | 7.2% | 5.7% | 6.6% | 4.4% | 8.0% | 8.1% | 7.7% |
| ROA | 2.6% | 2.6% | 2.6% | 3.9% | 3.6% | 2.7% | 3.2% | 2.2% | 3.7% | 3.3% | 3.1% |
| ROIC | 3.5% | 3.5% | 6.1% | 6.6% | 6.1% | 5.9% | 5.8% | 6.0% | 5.7% | 7.0% | 7.0% |
| ROCE | 4.6% | 4.6% | 7.9% | 8.5% | 7.9% | 7.6% | 7.4% | 7.6% | 7.3% | 8.9% | 8.9% |
WPC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
W. P. Carey Inc. carries a Debt/EBITDA ratio of 6.8x, which is highly leveraged (14% below the sector average of 7.9x). Net debt stands at $8.6B ($8.7B total debt minus $155M cash). Interest coverage of just 2.7x 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 | 1.07 | 1.07 | 0.97 | 0.95 | 0.87 | 0.92 | 1.00 | 0.88 | 0.93 | 1.25 | 1.30 |
| Debt / EBITDA | 6.79 | 6.79 | 4.47 | 4.00 | 4.30 | 4.22 | 4.47 | 3.89 | 5.66 | 4.19 | 4.32 |
| Net Debt / Equity | — | 1.05 | 0.89 | 0.88 | 0.86 | 0.89 | 0.96 | 0.86 | 0.90 | 1.20 | 1.25 |
| Net Debt / EBITDA | 6.67 | 6.67 | 4.12 | 3.69 | 4.20 | 4.11 | 4.31 | 3.77 | 5.46 | 4.03 | 4.16 |
| Debt / FCF | — | 7.85 | 4.44 | 8.04 | 8.57 | 8.33 | 11.11 | 9.20 | 15.35 | 9.39 | 8.42 |
| Interest Coverage | 2.73 | 2.73 | 2.87 | 2.86 | 3.33 | 3.12 | 2.55 | 2.40 | 2.65 | 2.65 | 2.42 |
WPC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
The current ratio of 0.18x is below 1.0, meaning current liabilities exceed current assets. The current ratio has declined from 3.40x to 0.18x 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 | 0.18 | 0.18 | 1.14 | 3.40 | 0.27 | 1.71 | 1.78 | 2.41 | 0.51 | 0.72 | 1.28 |
| Quick Ratio | 0.18 | 0.18 | 1.14 | 3.40 | 0.27 | 1.71 | 1.78 | 2.41 | 0.51 | 0.72 | 1.28 |
| Cash Ratio | 0.18 | 0.18 | 0.48 | 0.95 | 0.20 | 0.26 | 0.39 | 0.34 | 0.38 | 0.44 | 0.42 |
| Asset Turnover | — | 0.10 | 0.09 | 0.10 | 0.08 | 0.08 | 0.08 | 0.09 | 0.07 | 0.10 | 0.11 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
WPC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
W. P. Carey Inc. returns 5.0% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 169.4%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 3.0% (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 | 5.0% | 5.6% | 6.4% | 6.6% | 5.4% | 5.2% | 6.0% | 5.2% | 5.8% | 5.9% | 6.7% |
| Payout Ratio | 169.4% | 169.4% | 166.0% | 129.4% | 139.4% | 186.4% | 159.6% | 230.8% | 107.0% | 155.5% | 155.6% |
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 | 3.0% | 3.3% | 3.8% | 5.1% | 3.9% | 2.8% | 3.8% | 2.3% | 5.5% | 3.8% | 4.3% |
| FCF Yield | 7.0% | 7.7% | 14.1% | 6.8% | 5.9% | 5.5% | 4.9% | 4.8% | 5.3% | 6.0% | 8.2% |
| Buyback Yield | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.0% | 5.6% | 6.4% | 6.6% | 5.4% | 5.2% | 6.0% | 5.2% | 5.9% | 5.9% | 6.7% |
| Shares Outstanding | — | $221M | $221M | $216M | $200M | $183M | $175M | $171M | $118M | $108M | $107M |
Peer Comparison
Compare WPC 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 |
|---|---|---|---|---|---|---|---|---|---|
 WPCYou | $16B | 33.8 | 18.8 | 14.3 | 28.6% | 44.4% | 5.6% | 3.5% | 6.8 |
 NNN | $9B | 21.7 | 16.0 | 12.8 | 38.0% | 61.5% | 8.9% | 4.8% | 5.8 |
 EPRT | $6B | 22.9 | 17.1 | 16.7 | 84.0% | 64.5% | 6.5% | 4.4% | 4.9 |
 ADC | $9B | 41.4 | 19.7 | 17.5 | 87.7% | 47.4% | 3.5% | 2.8% | 5.4 |
 O | $56B | 51.5 | 21.6 | 14.1 | 89.8% | 28.3% | 2.7% | 1.8% | 8.0 |
 VICI | $28B | 10.1 | 7.5 | 11.2 | 99.2% | 91.1% | 10.1% | 7.6% | — |
 MPW | $3B | -17.1 | 105.4 | 14.6 | — | — | -4.2% | — | 4.6 |
 GTY | $2B | 24.2 | 16.4 | 15.6 | 40.2% | 54.9% | 7.8% | 4.6% | 5.7 |
 FCPT | $3B | 22.5 | 17.3 | 14.0 | 95.4% | 55.7% | 7.3% | 4.5% | 5.4 |
 PINE | $274M | -87.0 | 14.5 | — | -10.9% | 30.5% | -0.9% | 2.2% | 8.6 |
 NTST | $2B | 234.1 | 21.3 | 17.4 | 90.0% | 30.4% | 0.5% | 1.7% | 7.9 |
| 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 · 29 years · Updated daily
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WPC — Frequently Asked Questions
Quick answers to the most common questions about buying WPC stock.
What is W. P. Carey Inc.'s P/E ratio?
W. P. Carey Inc.'s current P/E ratio is 33.8x. The historical average is 23.4x. This places it at the 81th percentile of its historical range.
What is W. P. Carey Inc.'s EV/EBITDA?
W. P. Carey Inc.'s current EV/EBITDA is 18.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
What is W. P. Carey Inc.'s ROE?
W. P. Carey Inc.'s return on equity (ROE) is 5.6%. The historical average is 8.3%.
Is WPC stock overvalued?
Based on historical data, W. P. Carey Inc. is trading at a P/E of 33.8x. This is at the 81th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is W. P. Carey Inc.'s dividend yield?
W. P. Carey Inc.'s current dividend yield is 5.02% with a payout ratio of 169.4%.
What are W. P. Carey Inc.'s profit margins?
W. P. Carey Inc. has 28.6% gross margin and 44.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does W. P. Carey Inc. have?
W. P. Carey Inc.'s Debt/EBITDA ratio is 6.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.