Whitestone REIT (WSR) Financial Ratios
24 years of historical data (2002–2025) · Real Estate · REIT - Retail
EV/EBITDA
↓
18.03
+16% vs avg
5yr avg: 15.54
30Y Low8.9·High25.4
P/FCF
↑
19.19
↑+59% vs avg
5yr avg: 12.05
30Y Low8.0·High14.2
P/B Ratio
↑
2.12
↑+52% vs avg
5yr avg: 1.40
30Y Low0.8·High1.6
ROE
↑
11.0%
↓+53% vs avg
5yr avg: 7.2%
30Y Low-0%·High11%
Debt/EBITDA
↓
7.19
↓-11% vs avg
5yr avg: 8.11
30Y Low2.8·High14.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
WSR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Whitestone REIT trades at 20.0x earnings, 16% below its 5-year average of 23.8x, sitting at the 20th percentile of its historical range. Compared to the Real Estate sector median P/E of 24.2x, the stock trades at a discount of 18%. On a free-cash-flow basis, the stock trades at 19.2x P/FCF, 59% above the 5-year average of 12.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $974M | $720M | $728M | $624M | $482M | $469M | $343M | $565M | $498M | $522M | $408M |
| Enterprise Value | $1.6B | $1.4B | $1.4B | $1.3B | $1.1B | $1.1B | $976M | $1.2B | $1.1B | $1.2B | $948M |
| P/E Ratio → | 19.96 | 14.62 | 19.68 | 32.34 | 13.58 | 38.96 | 56.93 | 23.89 | 23.13 | 65.50 | 55.31 |
| P/S Ratio | 6.06 | 4.48 | 4.68 | 4.22 | 3.43 | 3.75 | 2.77 | 4.69 | 4.15 | 4.15 | 3.91 |
| P/B Ratio | 2.12 | 1.55 | 1.64 | 1.49 | 1.13 | 1.18 | 1.01 | 1.60 | 1.39 | 1.46 | 1.52 |
| P/FCF | 19.19 | 14.19 | 12.50 | 13.12 | 10.84 | 9.60 | 8.01 | 11.83 | 12.30 | — | — |
| P/OCF | 19.19 | 14.19 | 12.50 | 13.12 | 10.84 | 9.60 | 8.01 | 11.83 | 12.59 | 12.76 | 10.42 |
P/E links to full P/E history page with 30-year chart
WSR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Whitestone REIT's enterprise value stands at 18.0x EBITDA, 16% above its 5-year average of 15.5x. The Real Estate sector median is 16.8x, 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 | — | 8.45 | 8.71 | 8.52 | 7.84 | 8.81 | 7.90 | 9.96 | 9.20 | 9.32 | 9.08 |
| EV / EBITDA | 18.03 | 15.19 | 15.67 | 15.49 | 13.91 | 17.43 | 16.11 | 13.54 | 9.25 | 9.20 | 8.87 |
| EV / EBIT | 30.11 | 16.05 | 18.85 | 23.89 | 17.37 | 31.20 | 30.23 | 34.09 | 23.21 | 35.98 | 34.30 |
| EV / FCF | — | 26.77 | 23.27 | 26.49 | 24.79 | 22.58 | 22.82 | 25.15 | 27.23 | — | — |
WSR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Whitestone REIT earns an operating margin of 33.3%, above the Real Estate sector average of 24.7%. ROE of 11.0% is modest. ROIC of 3.7% 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 | 68.8% | 68.8% | 70.4% | 68.9% | 69.2% | 68.6% | 68.8% | 69.4% | 68.8% | 66.6% | 67.4% |
| Operating Margin | 33.3% | 33.3% | 33.1% | 32.7% | 33.8% | 27.4% | — | 51.4% | 27.9% | 25.9% | 22.9% |
| Net Profit Margin | 31.0% | 31.0% | 23.7% | 13.0% | 25.1% | 9.6% | 4.9% | 19.6% | 17.9% | 6.6% | 7.6% |
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 | 11.0% | 11.0% | 8.5% | 4.5% | 8.6% | 3.3% | 1.7% | 6.7% | 6.0% | 2.7% | 3.1% |
| ROA | 4.3% | 4.3% | 3.3% | 1.7% | 3.2% | 1.1% | 0.6% | 2.3% | 2.0% | 0.9% | 1.0% |
| ROIC | 3.7% | 3.7% | 3.6% | 3.5% | 3.4% | 2.6% | — | 4.8% | 2.5% | 2.7% | 2.3% |
| ROCE | 4.8% | 4.8% | 4.9% | 4.7% | 5.1% | 3.8% | — | 6.2% | 3.3% | 3.5% | 3.1% |
WSR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Whitestone REIT carries a Debt/EBITDA ratio of 7.2x, which is highly leveraged (7% below the sector average of 7.7x). Net debt stands at $639M ($644M total debt minus $5M cash). Interest coverage of just 2.5x 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 | 1.39 | 1.39 | 1.42 | 1.53 | 1.48 | 1.63 | 1.95 | 1.85 | 1.72 | 1.84 | 2.03 |
| Debt / EBITDA | 7.19 | 7.19 | 7.32 | 7.87 | 7.90 | 10.26 | 10.88 | 7.35 | 5.19 | 5.17 | 5.09 |
| Net Debt / Equity | — | 1.38 | 1.41 | 1.52 | 1.46 | 1.59 | 1.87 | 1.80 | 1.68 | 1.82 | 2.02 |
| Net Debt / EBITDA | 7.14 | 7.14 | 7.26 | 7.82 | 7.83 | 10.01 | 10.46 | 7.17 | 5.07 | 5.11 | 5.05 |
| Debt / FCF | — | 12.59 | 10.77 | 13.37 | 13.95 | 12.98 | 14.81 | 13.32 | 14.93 | — | — |
| Interest Coverage | 2.52 | 2.52 | 2.11 | 1.61 | 2.33 | 1.44 | 1.25 | 1.34 | 1.89 | 1.38 | 1.44 |
WSR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Whitestone REIT's current ratio of 2.86x 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 0.61x to 2.86x 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 | 2.86 | 2.86 | 2.03 | 0.61 | 1.04 | 0.17 | 1.49 | 1.11 | 1.26 | 0.95 | 0.91 |
| Quick Ratio | 2.86 | 2.86 | 2.03 | 0.61 | 1.04 | 0.17 | 1.49 | 1.11 | 1.35 | 1.01 | 0.87 |
| Cash Ratio | 0.28 | 0.28 | 0.11 | 0.07 | 0.14 | 0.05 | 0.64 | 0.35 | 0.30 | 0.17 | 0.13 |
| Asset Turnover | — | 0.14 | 0.14 | 0.13 | 0.13 | 0.11 | 0.12 | 0.11 | 0.12 | 0.12 | 0.12 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | 25.16 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
WSR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Whitestone REIT returns 0.2% to shareholders annually primarily through share buybacks. The earnings yield of 5.0% (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 | — | — | 3.4% | 3.8% | 4.8% | 4.1% | 7.4% | 8.1% | 9.0% | 7.7% | 7.8% |
| Payout Ratio | — | — | 66.6% | 123.5% | 65.1% | 160.4% | 417.7% | 192.7% | 209.7% | 485.6% | 402.4% |
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 | 5.0% | 6.8% | 5.1% | 3.1% | 7.4% | 2.6% | 1.8% | 4.2% | 4.3% | 1.5% | 1.8% |
| FCF Yield | 5.2% | 7.0% | 8.0% | 7.6% | 9.2% | 10.4% | 12.5% | 8.5% | 8.1% | — | — |
| Buyback Yield | 0.2% | 0.3% | 0.4% | 0.1% | 0.1% | 0.1% | 0.6% | 0.1% | 0.4% | 0.8% | 1.0% |
| Total Shareholder Yield | 0.2% | 0.3% | 3.7% | 3.9% | 4.9% | 4.3% | 8.0% | 8.2% | 9.4% | 8.6% | 8.8% |
| Shares Outstanding | — | $52M | $51M | $51M | $50M | $46M | $43M | $41M | $41M | $36M | $28M |
Peer Comparison
Compare WSR 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 |
|---|---|---|---|---|---|---|---|---|---|
 WSRYou | $974M | 20.0 | 18.0 | 19.2 | 68.8% | 33.3% | 11.0% | 3.7% | 7.2 |
 WHLR | $122M | -0.0 | 9.8 | 30.3 | 21.4% | 36.4% | 8.3% | 4.9% | 8.1 |
 NXRT | $756M | -23.7 | 18.6 | 9.0 | 84.3% | 11.1% | -8.9% | 1.1% | 12.6 |
 PECO | $5B | 45.0 | 16.2 | 23.8 | -1.4% | 27.2% | 4.3% | 3.0% | 5.4 |
 CTO | $686M | 254.1 | 14.3 | 13.9 | -5.6% | 22.1% | 1.7% | 2.1% | 7.0 |
 NTST | $2B | 254.5 | 12.3 | 15.5 | 99.9% | 25.7% | 0.5% | 2.1% | — |
 KIM | $16B | 28.3 | 17.7 | 20.5 | 54.7% | 35.2% | 5.5% | 3.0% | 6.3 |
 REG | $14B | 27.6 | 20.5 | 36.2 | 44.7% | 37.0% | 7.5% | 3.5% | 6.1 |
 BRX | $9B | 24.1 | 16.1 | 14.2 | 75.2% | 36.7% | 12.9% | 4.6% | 6.4 |
 SITC | $293M | 1.6 | 5.7 | 14.9 | -5.7% | -1.3% | 41.8% | -0.2% | 1.7 |
 AKR | $3B | 230.9 | 23.0 | 17.2 | 50.5% | 12.0% | 0.5% | 0.9% | 9.3 |
| Real Estate Median | — | 24.2 | 16.8 | 15.6 | 50.1% | 24.7% | 3.5% | 2.7% | 7.7 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonWSR — Frequently Asked Questions
Quick answers to the most common questions about buying WSR stock.
What is Whitestone REIT's P/E ratio?
Whitestone REIT's current P/E ratio is 20.0x. The historical average is 44.1x. This places it at the 20th percentile of its historical range.
What is Whitestone REIT's EV/EBITDA?
Whitestone REIT's current EV/EBITDA is 18.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.1x.
What is Whitestone REIT's ROE?
Whitestone REIT's return on equity (ROE) is 11.0%. The historical average is 3.7%.
Is WSR stock overvalued?
Based on historical data, Whitestone REIT is trading at a P/E of 20.0x. This is at the 20th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Whitestone REIT's profit margins?
Whitestone REIT has 68.8% gross margin and 33.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Whitestone REIT have?
Whitestone REIT's Debt/EBITDA ratio is 7.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.