Latest Ratios: P/E Ratio 27.8x · EV/EBITDA 12.3x · ROE 5.1%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.6B | $1.4B | $1.5B | $1.5B | $1.5B | $2.1B | $1.7B | $2.4B | $1.9B | $2.3B | $2.1B |
| Enterprise Value | $2.9B | $2.7B | $2.8B | $2.7B | $2.6B | $3.0B | $2.7B | $3.6B | $3.0B | $3.6B | $3.0B |
| P/E Ratio → | 27.84 | 22.09 | 99.07 | 80.12 | 26.90 | — | — | 44.10 | 9.83 | 23.47 | 24.58 |
| P/S Ratio | 1.52 | 1.27 | 1.46 | 1.44 | 1.51 | 3.34 | 4.67 | 2.12 | 1.79 | 2.44 | 2.21 |
| P/B Ratio | 1.46 | 1.16 | 1.19 | 1.12 | 1.03 | 1.43 | 1.10 | 1.37 | 1.02 | 1.40 | 1.27 |
| P/FCF | 18.28 | 15.28 | 65.60 | 19.14 | 12.92 | 230.43 | — | 15.89 | 13.00 | 18.28 | 12.59 |
| P/OCF | 9.31 | 7.78 | 9.28 | 7.46 | 8.06 | 50.56 | — | 9.90 | 7.47 | 10.86 | 9.31 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.47 | 2.67 | 2.64 | 2.64 | 4.94 | 7.33 | 3.15 | 2.80 | 3.77 | 3.12 |
| EV / EBITDA | 12.34 | 11.21 | 12.88 | 11.80 | 10.79 | 44.41 | — | 13.59 | 10.22 | 13.86 | 11.20 |
| EV / EBIT | 27.41 | 17.26 | 29.53 | 27.79 | 18.46 | — | — | 32.57 | 23.22 | 34.56 | 26.68 |
| EV / FCF | — | 29.63 | 119.84 | 35.08 | 22.54 | 340.15 | — | 23.59 | 20.29 | 28.17 | 17.75 |
Margins and return-on-capital ratios measuring operating efficiency
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 | 1.5% | 1.5% | 24.3% | 26.2% | 27.9% | 20.8% | -9.4% | 28.0% | 29.8% | 30.8% | 32.2% |
| Operating Margin | 9.9% | 9.9% | 8.4% | 9.5% | 11.2% | -9.9% | -65.4% | 9.7% | 12.5% | 10.9% | 11.7% |
| Net Profit Margin | 5.8% | 5.8% | 1.6% | 1.9% | 5.6% | -23.3% | -44.2% | 4.8% | 18.3% | 10.5% | 9.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.1% | 5.1% | 1.2% | 1.4% | 3.9% | -9.6% | -9.8% | 3.1% | 11.1% | 6.0% | 5.1% |
| ROA | 2.2% | 2.2% | 0.6% | 0.6% | 1.8% | -4.7% | -5.2% | 1.7% | 6.2% | 3.3% | 2.9% |
| ROIC | 3.2% | 3.2% | 2.6% | 2.9% | 3.3% | -1.8% | -6.6% | 2.8% | 3.4% | 2.9% | 3.2% |
| ROCE | 4.0% | 4.0% | 3.2% | 3.4% | 3.7% | -2.0% | -7.8% | 3.6% | 4.3% | 3.6% | 4.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.21 | 1.21 | 1.04 | 1.06 | 0.98 | 1.04 | 0.88 | 0.73 | 0.62 | 0.80 | 0.65 |
| Debt / EBITDA | 6.02 | 6.02 | 6.19 | 6.08 | 5.86 | 21.88 | — | 4.85 | 3.98 | 5.15 | 4.07 |
| Net Debt / Equity | — | 1.09 | 0.98 | 0.93 | 0.77 | 0.68 | 0.63 | 0.67 | 0.57 | 0.76 | 0.52 |
| Net Debt / EBITDA | 5.43 | 5.43 | 5.83 | 5.36 | 4.61 | 14.32 | — | 4.43 | 3.67 | 4.87 | 3.26 |
| Debt / FCF | — | 14.35 | 54.24 | 15.94 | 9.63 | 109.73 | — | 7.70 | 7.29 | 9.89 | 5.16 |
| Interest Coverage | 1.79 | 1.79 | 1.16 | 1.15 | 1.72 | -0.79 | -3.90 | 2.29 | 2.48 | 2.23 | 2.31 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.34 | 2.34 | 1.47 | 2.26 | 3.40 | 6.91 | 6.98 | 1.93 | 1.69 | 2.98 | 3.04 |
| Quick Ratio | 2.34 | 2.34 | 1.47 | 2.26 | 3.40 | 6.91 | -0.62 | 1.93 | 1.80 | 2.44 | 3.09 |
| Cash Ratio | 1.31 | 1.31 | 0.68 | 1.46 | 2.57 | 5.79 | 6.22 | 0.92 | 0.78 | 0.67 | 2.12 |
| Asset Turnover | — | 0.38 | 0.37 | 0.35 | 0.32 | 0.20 | 0.12 | 0.35 | 0.33 | 0.30 | 0.33 |
| Inventory Turnover | — | — | — | — | — | — | 0.85 | — | — | 11.17 | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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 | 3.1% | 3.9% | 3.2% | 3.0% | 0.8% | 0.0% | 3.7% | 5.2% | 6.4% | 5.1% | 5.5% |
| Payout Ratio | 85.9% | 85.9% | 296.8% | 233.1% | 20.9% | — | — | 227.2% | 62.8% | 119.8% | 134.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.6% | 4.5% | 1.0% | 1.2% | 3.7% | — | — | 2.3% | 10.2% | 4.3% | 4.1% |
| FCF Yield | 5.5% | 6.5% | 1.5% | 5.2% | 7.7% | 0.4% | — | 6.3% | 7.7% | 5.5% | 7.9% |
| Buyback Yield | 7.3% | 8.8% | 1.1% | 9.0% | 1.9% | 0.2% | 0.6% | 0.0% | 0.0% | 0.2% | 3.5% |
| Total Shareholder Yield | 10.5% | 12.7% | 4.2% | 12.0% | 2.6% | 0.2% | 4.3% | 5.2% | 6.5% | 5.3% | 9.0% |
| Shares Outstanding | — | $97M | $102M | $108M | $114M | $114M | $113M | $113M | $110M | $107M | $108M |
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying XHR stock.
Xenia Hotels & Resorts, Inc.'s current P/E ratio is 27.8x. The historical average is 38.8x. This places it at the 67th percentile of its historical range.
Xenia Hotels & Resorts, Inc.'s current EV/EBITDA is 12.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.1x.
Xenia Hotels & Resorts, Inc.'s return on equity (ROE) is 5.1%. The historical average is 1.6%.
Based on historical data, Xenia Hotels & Resorts, Inc. is trading at a P/E of 27.8x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Xenia Hotels & Resorts, Inc.'s current dividend yield is 3.13% with a payout ratio of 85.9%.
Xenia Hotels & Resorts, Inc. has 1.5% gross margin and 9.9% operating margin.
Xenia Hotels & Resorts, Inc.'s Debt/EBITDA ratio is 6.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
FFO volatility and negative AFFO
Metrics are mathematically derived from official filings.
Implied Cap Rate Signals Caution
XHR's P/FFO of 12.56 in 2026Q2, based on reported figures, sits near its 10-quarter range, but the implied cap rate from collapsing NOI suggests the market is pricing in a recovery that has yet to materialize.
The P/FFO multiple of 12.56 in 2026Q2 is roughly in line with the trailing range of 12.29-12.90, indicating the market has not de-rated the stock despite the sharp FFO decline. However, with NOI margin at 8.0% versus 29.3% a year earlier, the implied cap rate on current NOI would be unsustainably high, suggesting investors are underwriting a normalization that may not occur soon. The EV/EBITDA of 12.95 is comparable to peers like PK (12.83) and APLE (12.71), but XHR's earnings quality is weaker, warranting a discount that is not currently reflected.
NOI Margin Collapse Undermines FFO
NOI margin plunged to 8.0% in 2026Q2 from 29.3% in 2025Q2, as per financial statements, driving FFO per share down 85.8% year-over-year, indicating severe operational strain rather than mere seasonality.
The 21.3 percentage point drop in NOI margin is far beyond typical seasonal variation, suggesting either a significant property-level disruption or a portfolio mix shift. FFO per share of $0.13 in 2026Q2 is the lowest in the 10-quarter series, and the negative AFFO of -$0.03 indicates that even after adding back depreciation, cash generation is insufficient to cover maintenance capex. This profitability collapse appears to be driving the negative ROE of -1.6%, as the company's asset base is not generating adequate returns.
Dividend Coverage Turns Negative
In 2026Q2, AFFO per share was -$0.03 while dividends per share were $0.14, resulting in a payout ratio of 107.7% on FFO, based on reported data, signaling that the dividend is not fully covered by cash flow.
The FFO payout ratio of 107.7% in 2026Q2 is the highest in the series, and the negative AFFO means the company is funding its dividend from cash reserves or external sources. Even in the prior quarter, the payout ratio was only 25.9%, so this spike is a red flag for sustainability. Investors should monitor whether this is a one-off event or the start of a trend, as the company's cash balance of $112.4M provides a limited buffer for continued shortfalls.
Leverage Stable but Coverage Strained
Debt-to-equity remained near 1.15 in 2026Q2, but interest coverage fell to 0.00, as per reported figures, indicating that FFO is insufficient to cover interest expense, raising refinancing risk concerns.
The D/E ratio of 1.15 is consistent with the prior year, suggesting the balance sheet is not aggressively levered, but the interest coverage of 0.00 in 2026Q2 is alarming. This implies that FFO before interest and taxes is less than interest expense, which is unsustainable. The company's debt level of $1.4B has been flat, but with FFO at $12.5M, the ability to service debt is compromised. Investors should watch for potential covenant breaches or the need for asset sales to raise liquidity.
Occupancy and NOI Deteriorate
NOI fell to $23.5M in 2026Q2 from $84.2M a year earlier, as per financial statements, indicating a sharp deterioration in property performance that may reflect broader demand weakness or asset-specific issues.
The 72% decline in NOI is not explained by seasonality alone, suggesting either a major property loss or a portfolio-wide demand shock. While occupancy data is not provided, the NOI margin collapse implies RevPAR is under significant pressure. G&A efficiency cannot be assessed from the data, but the severity of the NOI drop warrants a review of the portfolio's geographic and property-type concentration, as hotels are highly sensitive to economic cycles.
P/E Misleads for Hotel REITs
The standard P/E of 30.30 is distorted by depreciation, as net income is depressed by non-cash charges, while FFO-based metrics like P/FFO of 12.56 provide a clearer picture of operating performance, based on reported figures.
For hotel REITs, depreciation is a significant non-cash expense that understates true economic earnings, making P/E appear artificially high. XHR's P/E of 30.30 contrasts with its P/FFO of 12.56, highlighting the distortion. Investors should use P/FFO or P/AFFO to value the company, but even these metrics are challenged by the negative AFFO, which indicates that maintenance capex is consuming more than FFO. The appropriate adjustment is to focus on AFFO and its coverage of the dividend, which is currently negative, signaling potential dividend risk.