Whitestone REIT
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
53.69411.66154.37247
Price/Sales ratio
3.823.664.804.50
Earnings per Share (EPS)
$0.23$0.03$0.08$0.05

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
44.3743.8350.0761.2522.4623.1055.7938.2413.4631.7133.1722.46
Price/Sales ratio
4.653.163.804.054.014.582.853.673.374.114.664.01
Price/Book Value ratio
1.601.211.551.461.371.581.011.171.131.471.661.37
Price/Cash Flow ratio
13.128.1710.1312.4612.1711.467.879.4210.6812.7813.3812.17
Price/Free Cash Flow ratio
-2.97-2.37-9.13-5.0011.8911.467.879.4210.6812.7813.5711.89
Price/Earnings Growth ratio
0.77-1.8012.51-3.980.143.17-0.730.660.05-0.692.980.14
Dividend Yield
7.58%9.61%8.03%7.92%9.33%8.33%7.48%4.19%4.83%3.89%3.50%8.33%
Profitability Indicator Ratios
Gross Profit Margin
65.25%66.45%67.35%66.56%68.77%69.05%67.28%68.63%69.20%68.92%58.80%69.05%
Operating Profit Margin
22.42%23.55%22.94%25.92%27.92%41.66%26.23%28.07%33.18%32.67%33.92%27.92%
Pretax Profit Margin
7.77%7.73%8.05%7.34%18.62%20.15%5.53%8.61%25.76%13.45%14.40%20.15%
Net Profit Margin
10.48%7.22%7.59%6.61%17.87%19.85%5.11%9.61%25.08%12.96%13.87%19.85%
Effective Tax Rate
5.00%5.14%3.43%4.17%1.55%1.66%5.80%3.56%1.16%2.26%1.99%1.55%
Return on Assets
1.19%0.86%0.92%0.77%2.08%2.24%0.57%1.09%3.19%1.72%1.89%2.24%
Return On Equity
3.61%2.77%3.10%2.39%6.11%6.85%1.81%3.06%8.42%4.63%5.04%6.85%
Return on Capital Employed
2.65%2.92%2.93%3.18%3.40%4.94%3.12%3.35%4.40%4.80%4.90%3.40%
Liquidity Ratios
Current Ratio
1.030.870.910.941.250.981.09N/AN/AN/A1.391.25
Quick Ratio
1.150.890.871.001.350.981.09-0.221.050.601.391.35
Cash ratio
0.180.080.110.160.300.290.460.300.140.040.040.29
Days of Sales Outstanding
59.6760.4269.7261.2584.3471.4172.2667.6669.9679.22190.5884.34
Days of Inventory outstanding
-37.32-5.9214.50-26.31-41.79-0.580.00593.970.00N/AN/A-41.79
Operating Cycle
22.3554.5084.2334.9442.5470.8272.26661.6469.9679.22190.5842.54
Days of Payables Outstanding
230.47280.15307.18308.01328.90196.17293.25300.03239.89289.06210.93196.17
Cash Conversion Cycle
-208.12-225.65-222.95-273.07-286.35-125.35-220.99361.61-169.93-209.83-20.34-286.35
Debt Ratios
Debt Ratio
0.620.630.631.220.600.610.610.580.560.510.560.61
Debt Equity Ratio
1.872.052.123.791.761.861.931.631.491.391.501.86
Long-term Debt to Capitalization
0.650.670.680.650.630.650.650.620.580.580.590.65
Total Debt to Capitalization
0.650.670.680.790.630.650.650.620.590.580.600.65
Interest Coverage Ratio
1.531.471.241.381.321.291.15N/AN/AN/A1.421.32
Cash Flow to Debt Ratio
0.060.070.070.030.060.070.060.070.070.080.080.06
Company Equity Multiplier
3.013.223.343.082.933.053.142.802.632.692.653.05
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.350.380.370.320.330.400.360.380.310.320.340.33
Free Cash Flow / Operating Cash Flow Ratio
-4.41-3.44-1.10-2.491.021111111
Cash Flow Coverage Ratio
0.060.070.070.030.060.070.060.070.070.080.080.06
Short Term Coverage Ratio
N/AN/AN/A0.06N/AN/AN/AN/A1.57N/A3.00N/A
Dividend Payout Ratio
336.65%421.64%402.35%485.62%209.71%192.65%417.68%160.35%65.09%123.48%114.96%192.65%