W. P. Carey Inc. (WPC) Financial Ratios
29 years of historical data (1997–2025) · Real Estate · REIT - Diversified
EV/EBITDA
↑
19.17
↑+49% vs avg
5yr avg: 12.90
30Y Low5.3·High19.4
P/FCF
↓
14.71
+5% vs avg
5yr avg: 13.99
30Y Low7.1·High41.2
P/B Ratio
↓
1.99
+18% 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 34.7x earnings, 26% 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 44%. On a free-cash-flow basis, the stock trades at 14.7x P/FCF, 5% above 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 | $16.0B | $14.2B | $12.0B | $14.0B | $15.3B | $14.7B | $12.1B | $13.4B | $7.5B | $7.3B | $6.2B |
| Enterprise Value | $24.6B | $22.8B | $19.6B | $21.6B | $23.0B | $21.5B | $18.7B | $19.4B | $13.7B | $11.4B | $10.5B |
| P/E Ratio → | 34.68 | 30.50 | 26.07 | 19.76 | 25.59 | 35.86 | 26.58 | 44.02 | 18.28 | 26.35 | 23.23 |
| P/S Ratio | 9.35 | 8.29 | 7.62 | 8.05 | 10.41 | 11.65 | 10.32 | 11.07 | 8.15 | 8.47 | 6.82 |
| P/B Ratio | 1.99 | 1.75 | 1.42 | 1.61 | 1.70 | 1.94 | 1.76 | 1.93 | 1.10 | 2.14 | 1.81 |
| P/FCF | 14.71 | 13.04 | 7.08 | 14.69 | 17.06 | 18.10 | 20.33 | 20.76 | 18.75 | 16.67 | 12.17 |
| P/OCF | 12.51 | 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 19.2x EBITDA, 49% above its 5-year average of 12.9x. The Real Estate sector median is 16.7x, placing the stock at a 15% 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 | 19.17 | 17.75 | 10.69 | 10.43 | 12.57 | 13.05 | 12.19 | 12.28 | 12.14 | 11.19 | 10.18 |
| EV / EBIT | 32.26 | 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 26.0%. 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 4.9% 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 2.9% (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 | 4.9% | 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 | 2.9% | 3.3% | 3.8% | 5.1% | 3.9% | 2.8% | 3.8% | 2.3% | 5.5% | 3.8% | 4.3% |
| FCF Yield | 6.8% | 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 | 4.9% | 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 | 34.7 | 19.2 | 14.7 | 28.6% | 44.4% | 5.6% | 3.5% | 6.8 |
 NNN | $8B | 21.5 | 15.8 | 12.7 | 38.0% | 61.5% | 8.9% | 4.8% | 5.8 |
 EPRT | $7B | 24.4 | 17.8 | 17.7 | 84.0% | 64.5% | 6.5% | 4.4% | 4.9 |
 ADC | $9B | 42.9 | 20.2 | 18.1 | 87.7% | 47.4% | 3.5% | 2.8% | 5.4 |
 O | $59B | 54.3 | 14.4 | 14.9 | 89.8% | 28.3% | 2.7% | 2.3% | — |
 VICI | $30B | 10.8 | 8.1 | 12.0 | 99.2% | 91.1% | 10.1% | 7.6% | — |
 MPW | $3B | -17.1 | 105.4 | 14.6 | — | — | -4.2% | — | 4.6 |
 GTY | $2B | 24.4 | 16.5 | 15.7 | 40.2% | 54.9% | 7.8% | 4.6% | 5.7 |
 FCPT | $3B | 23.1 | 17.6 | 14.3 | 95.4% | 55.7% | 7.3% | 4.5% | 5.4 |
 PINE | $279M | -88.4 | 14.6 | — | -10.9% | 30.5% | -0.9% | 2.2% | 8.6 |
 NTST | $2B | 254.0 | 12.3 | 15.5 | 99.9% | 25.7% | 0.5% | 2.1% | — |
| Real Estate Median | — | 24.1 | 16.7 | 15.4 | 52.1% | 26.0% | 3.5% | 3.0% | 7.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 29 years · Updated daily
Full WPC Stock Analysis
Analyst consensus, bull case, AI-generated risk factors, and peer comparison — all in one place.
See WPC's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs WPC Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare WPC vs NNN
Side-by-side business, growth, and profitability comparison vs NNN REIT, Inc..
Start ComparisonWPC — 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 34.7x. 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 19.2x. 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 34.7x. 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 4.88% 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.