Last 48 quarters of trend data · Real Estate · REIT - Retail
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -63.29 | — | 8.77 | 32.00 | 51.30 | 10.73 | 22.55 | 65.63 | 17.43 | 101.74 | 49.03 | 10.54 | 29.99 |
| — | — | -61.1% | -51.2% | +194.3% | -89.4% | -54.0% | +522.5% | -41.9% | +1588.6% | +81.1% | -66.0% | +26.7% | |
| P/S Ratio | 4.79 | 4.10 | 3.88 | 4.22 | 4.93 | 4.48 | 4.45 | 4.51 | 4.25 | 4.18 | 3.25 | 3.44 | 3.24 |
| — | -8.4% | -12.9% | -6.3% | +16.1% | +7.1% | +37.0% | +31.1% | +31.3% | +20.7% | +8.7% | -10.9% | -33.2% | |
| P/B Ratio | 1.70 | 1.55 | 1.43 | 1.49 | 1.73 | 1.66 | 1.63 | 1.61 | 1.50 | 1.50 | 1.13 | 1.13 | 1.10 |
| — | -6.2% | -12.4% | -6.9% | +15.3% | +10.7% | +45.0% | +42.1% | +36.2% | +31.4% | +9.2% | -14.7% | -33.0% | |
| P/FCF | 15.17 | 772.88 | 8.85 | 11.69 | 61.31 | 10.17 | 10.60 | 13.88 | 13.92 | 13.36 | 8.62 | 7.26 | 23.47 |
| — | +7502.5% | -16.5% | -15.7% | +340.6% | -23.9% | +23.0% | +91.2% | -40.7% | +21.3% | +23.1% | -27.7% | -30.8% | |
| EV / EBITDA | 15.74 | 14.65 | 14.17 | 14.74 | 16.08 | 14.70 | 15.08 | 16.57 | 15.24 | 14.00 | 14.31 | 10.31 | 9.76 |
| — | -0.4% | -6.1% | -11.1% | +5.5% | +5.0% | +5.4% | +60.6% | +56.1% | +42.4% | +45.3% | -34.3% | -12.3% | |
| EV / EBIT | 26.30 | — | 11.63 | 24.29 | 29.07 | 13.14 | 20.28 | 29.20 | 17.69 | 22.35 | 25.15 | 27.16 | 22.61 |
| — | — | -42.7% | -16.8% | +64.3% | -41.2% | -19.4% | +7.5% | -21.8% | -4.5% | +4.5% | -0.1% | -6.9% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Whitestone REIT's operating margin was 30.6% in Q4 2025, down 3.8 pp QoQ and down 4.7 pp YoY. This marks the 3rd consecutive quarter of margin compression, signaling a persistent pressure on profitability that investors should monitor. The trailing four-quarter average of 33.2% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 4.1% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.8% | 67.1% | 67.7% | 70.9% | 70.6% | 70.0% | 68.9% | 71.0% | 72.0% | 45.7% | 69.2% | 67.1% | 69.7% |
| — | -4.1% | -1.7% | -0.2% | -1.9% | +53.1% | -0.5% | +5.9% | +3.2% | -35.5% | +3.8% | -1.2% | -1.4% | |
| Operating Margin | 33.3% | 30.6% | 34.4% | 35.8% | 32.1% | 35.3% | 33.4% | 31.1% | 32.3% | 37.7% | — | 52.5% | 55.5% |
| — | -13.3% | +2.9% | +15.2% | -0.7% | -6.3% | — | -40.8% | -41.8% | -33.3% | — | +70.6% | -10.3% | |
| Net Margin | 31.0% | 52.0% | 44.7% | 13.2% | 9.7% | 42.2% | 19.6% | 6.9% | 24.7% | 4.1% | 6.6% | 31.9% | 10.8% |
| — | +23.1% | +128.3% | +92.1% | -61.0% | +928.9% | +195.2% | -78.5% | +129.3% | -92.8% | -40.0% | +156.4% | -47.5% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.0% | 5.0% | 4.2% | 1.2% | 0.8% | 4.0% | 1.8% | 0.6% | 2.2% | 0.4% | 0.6% | 2.7% | 0.9% |
| — | +25.9% | +132.5% | +90.8% | -61.9% | +1004.0% | +212.3% | -77.1% | +141.7% | -92.4% | -40.0% | +148.7% | -48.2% | |
| ROA | 4.5% | 2.0% | 1.6% | 0.4% | 0.3% | 1.5% | 0.7% | 0.2% | 0.8% | 0.1% | 0.2% | 1.0% | 0.4% |
| — | +32.4% | +135.4% | +93.2% | -60.8% | +1016.5% | +205.8% | -77.5% | +138.6% | -92.4% | -38.1% | +156.1% | -45.6% | |
| ROIC | 3.7% | 0.9% | 1.0% | 0.9% | 0.9% | 1.0% | 0.9% | 0.8% | 0.9% | 1.0% | — | 1.3% | 1.4% |
| — | -9.5% | +6.6% | +16.0% | -0.2% | +1.6% | — | -38.7% | -39.9% | -29.6% | — | +71.8% | -7.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Whitestone REIT's Debt/EBITDA ratio is 27.8x — elevated, raising questions about debt serviceability. Debt/Equity has declined for 3 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.39 | 1.39 | 1.44 | 1.55 | 1.47 | 1.42 | 1.49 | 1.57 | 1.51 | 1.53 | 1.47 | 1.51 | 1.51 |
| — | -2.6% | -3.3% | -1.5% | -2.7% | -6.7% | +1.9% | +4.1% | +0.1% | +3.4% | -5.5% | -3.8% | -5.2% | |
| Debt / EBITDA | 7.19 | 27.75 | 28.61 | 30.11 | 29.66 | 27.31 | 28.86 | 32.87 | 30.72 | 28.40 | 32.75 | 24.14 | 22.85 |
| — | +1.6% | -0.9% | -8.4% | -3.4% | -3.8% | -11.9% | +36.2% | +34.4% | +25.7% | +37.2% | -29.7% | +3.4% | |
| Current Ratio | — | — | 1.58 | 2.07 | 2.50 | 2.03 | 1.39 | 1.01 | 2.20 | 0.61 | — | — | — |
| — | — | +13.7% | +104.7% | +14.0% | +235.2% | — | — | — | — | — | — | — | |
| Quick Ratio | — | — | 1.58 | 2.07 | 2.50 | 2.03 | 1.39 | 1.01 | 2.20 | 0.61 | — | — | — |
| — | — | +13.7% | +104.7% | +14.0% | +235.2% | — | — | — | — | — | — | — | |
| Interest Coverage | 1.59 | 1.56 | 1.63 | 1.65 | 1.38 | 1.76 | 1.53 | 1.34 | 1.43 | 1.70 | — | 2.25 | 2.50 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Start ComparisonWhitestone REIT's current P/E is -63.3x. The average P/E over the last 3 quarters is 30.7x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Whitestone REIT's current operating margin is 33.3%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Whitestone REIT's business trajectory between earnings reports.