Latest Ratios: P/E Ratio 500.9x · EV/EBITDA 13.1x · 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 | $2.0B | $1.4B | $1.5B | $1.5B | $1.5B | $2.1B | $1.7B | $2.4B | $1.9B | $2.3B | $2.1B |
| Enterprise Value | $3.3B | $2.7B | $2.8B | $2.7B | $2.6B | $3.0B | $2.7B | $3.6B | $3.0B | $3.6B | $3.0B |
| P/E Ratio → | 500.94 | 22.09 | 99.07 | 80.12 | 26.90 | — | — | 44.10 | 9.83 | 23.47 | 24.58 |
| P/S Ratio | 1.76 | 1.27 | 1.46 | 1.44 | 1.51 | 3.34 | 4.67 | 2.12 | 1.79 | 2.44 | 2.21 |
| P/B Ratio | 1.76 | 1.16 | 1.19 | 1.12 | 1.03 | 1.43 | 1.10 | 1.37 | 1.02 | 1.40 | 1.27 |
| P/FCF | 15.73 | 15.28 | 65.60 | 19.14 | 12.92 | 230.43 | — | 15.89 | 13.00 | 18.28 | 12.59 |
| P/OCF | 11.18 | 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 | 13.10 | 11.21 | 12.88 | 11.80 | 10.81 | 45.11 | — | 13.73 | 10.22 | 13.86 | 11.20 |
| EV / EBIT | 30.49 | 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 | 5.87 | 22.22 | — | 4.90 | 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 | 4.62 | 14.55 | — | 4.48 | 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 | 2.6% | 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 | 0.2% | 4.5% | 1.0% | 1.2% | 3.7% | — | — | 2.3% | 10.2% | 4.3% | 4.1% |
| FCF Yield | 6.4% | 6.5% | 1.5% | 5.2% | 7.7% | 0.4% | — | 6.3% | 7.7% | 5.5% | 7.9% |
| Buyback Yield | 6.1% | 8.8% | 1.1% | 9.0% | 1.9% | 0.2% | 0.6% | 0.0% | 0.0% | 0.2% | 3.5% |
| Total Shareholder Yield | 8.7% | 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
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying XHR stock.
Xenia Hotels & Resorts, Inc.'s current P/E ratio is 500.9x. The historical average is 38.8x. This places it at the 100th percentile of its historical range.
Xenia Hotels & Resorts, Inc.'s current EV/EBITDA is 13.1x. 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 500.9x. This is at the 100th 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 2.61% 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
Volatile FFO and AFFO coverage
Metrics are mathematically derived from official filings.
Earnings Multiples Distorted by Volatility
Based on XHR's reported figures, the stock trades at 33.4x trailing GAAP earnings and roughly 12.5x quarterly-annualized FFO, a P/FFO that appears more usable than P/E for a hotel REIT carrying heavy depreciation and irregular property charges.
The 33.4x P/E reflects GAAP net income that swings from a $55.2M profit in 2025Q2 to a loss in 2026Q2, so it carries little analytical weight for this asset class. The P/FFO of roughly 12.3x to 12.9x has been remarkably stable across the ten quarters, which suggests the market is pricing XHR on a relatively consistent cash earnings base even as underlying FFO per share has fluctuated from $0.14 to $0.86. Investors should monitor whether the implied valuation holds if FFO normalization fails to persist, as a stable multiple against unstable earnings may indicate the market is anchoring to asset value rather than recent operating results.
NOI Margins Too Erratic to Anchor Trend
As reported in financial statements, XHR's NOI margin ranged from 29.3% in 2025Q2 to a negative 60.4% in 2025Q4, with 2026Q3 recovering to 22.8%, indicating property-level profitability that is highly irregular quarter to quarter.
A negative NOI margin in a hotel REIT typically reflects one-time charges or reporting timing rather than sustained operating loss, so the 2025Q4 figure likely warrants further investigation before being interpreted. The recovery to 22.8% in 2026Q3 is encouraging, yet it sits below the 26.7% to 29.3% range seen in several 2024 and early 2025 quarters, which may indicate softer hotel-level margins. Because the quarterly series is this noisy, the most reliable read is the direction of FFO growth rather than any single margin print.
Dividend Coverage Thin and Inconsistent
Based on XHR's reported figures, the FFO payout ratio ranged from 16.2% in 2025Q2 to 106.7% in 2026Q2, while AFFO turned negative in that same quarter, leaving the dividend's coverage margin thin in several periods.
A payout ratio above 100% in 2026Q2 means the quarterly dividend was not covered by FFO, and AFFO at -$2.8M in that quarter provides no internal cash cushion. Across most of the period, however, the FFO payout hovered between roughly 25% and 50%, which suggests the dividend is sustainable on a normalized basis if FFO stabilizes. Investors should monitor the frequency of quarters where AFFO falls below the distribution, since repeated shortfalls would reduce the margin for error in the dividend.
Debt Steady but Equity Cushion Thin
According to recent SEC filings, XHR's debt-to-equity ratio held between 1.13 and 1.21 over the period, with interest coverage swinging from a negative 0.06x to 3.73x, a combination that appears elevated for a hotel REIT.
A debt-to-equity near 1.2 is high relative to peers such as APLE at 0.56 and SHO at 0.48, though below RHP at 3.54, which suggests XHR sits in the middle-to-high range of leveraged hotel REITs. Interest coverage has been unreliable because quarterly EBIT is volatile, meaning the reported coverage figures cannot be read as a stable measure of debt service capacity. The main uncertainty is refinancing exposure and maturity profile, which are not disclosed in the supplied data and therefore warrant further investigation.
Standard P/E Misleads Hotel REIT Valuation
Based on the supplied data, the most commonly misapplied metric for XHR is trailing P/E, which at 33.4x appears expensive but is distorted by depreciation and property charges that FFO strips out, obscuring the underlying earnings power.
Applying P/E to a hotel REIT treats depreciation of a large real estate base as an economic cost, which understates cash earnings and inflates the apparent multiple. The better alternatives are P/FFO and P/AFFO, with P/AFFO adding a maintenance capex adjustment that matters for a hotel portfolio requiring periodic renovation. Using P/E as the primary valuation signal would likely lead an analyst to conclude the stock is overvalued when the cash-based multiple of roughly 12x suggests a more moderate price.