Présentation de l'entreprise
W. P. Carey Inc. operates as a prominent entity within the Real Estate sector, specifically functioning as a diversified Real Estate Investment Trust (REIT) that specializes in the net lease model. The company manages a portfolio comprising 1,682 net lease properties that cover approximately 183 million square feet, focusing on high-quality, operationally critical commercial real estate assets located globally with offices in New York and London. As of December 31, 2025, the organization employs 199 individuals to support its extensive asset management and operational functions. With a market capitalization of $15.66 billion and annual revenue reaching $1.71 billion, W. P. Carey Inc. establishes itself as a significant player in the real estate market, indicating substantial scale and market presence relative to its peers.
Santé financière
The company reported revenue of $1.71 billion for the trailing twelve months, generating net income of $466.36 million and EBITDA of $1.41 billion. The significant gap between the revenue figure of $1.71 billion and the net income of $466.36 million reveals a cost structure where operating expenses, depreciation, and interest costs consume approximately 72.7% of gross revenue before arriving at the bottom line. Free cash flow stood at $615.27 million, which represents a critical metric for financial flexibility, allowing the company to service debt, fund acquisitions, or return capital to shareholders without relying on external financing. The gross margin is reported at 93.3%, reflecting the high-margin nature of net lease accounting where tenants typically cover operating expenses. The operating margin stands at 50.9%, while the profit margin is 27.3%, indicating that for every dollar of revenue, the company retains 27.3 cents as net profit after all expenses including interest and taxes. On the balance sheet, the company holds $155.57 million in cash against total debt of $8.87 billion, resulting in a debt-to-equity ratio of 109.06%, which characterizes a leveraged balance sheet typical for REITs but requiring careful management of refinancing risks. The current ratio is 0.84, suggesting that current assets are slightly lower than current liabilities, which indicates a reliance on long-term financing or specific REIT liquidity structures rather than traditional short-term liquidity buffers. Return on equity is 5.7% and return on assets is 3.1%, metrics that provide insight into how effectively management utilizes shareholder capital and total assets to generate earnings.
Évaluation de la valorisation
The trailing twelve-month P/E ratio is 33.85, while the forward P/E is 25.61, implying that the market expects earnings to grow significantly in the coming period to justify the lower forward multiple. The price-to-book ratio is 1.93, indicating that the market values the company at nearly twice its book value, which suggests a premium assigned to the quality and stability of its real estate assets. The price-to-sales ratio is 9.18, and the EV/EBITDA stands at 17.24, offering alternative perspectives that value the company relative to its revenue generation and cash flow capabilities rather than just earnings. The stock's 52-week high is $75.69 and the 52-week low is $54.24, providing a context for the current trading range and historical volatility over the past year. The beta value is 0.79, which indicates that the stock's price volatility is lower than the broader market, suggesting less sensitivity to general market fluctuations compared to high-beta equities.
Growth & Income
Revenue growth over the past year was 8.8%, while earnings growth reached 218.1%, demonstrating that earnings are expanding at a rate significantly faster than revenue, likely driven by asset sales, portfolio optimization, or non-recurring income adjustments. For dividend payers, the dividend yield is 5.2% and the payout ratio is 171.6%, which indicates that the dividend paid exceeds the current net income, a situation often unsustainable in the long term without support from cash reserves or asset liquidation. The high payout ratio relative to net income suggests that the current dividend may rely heavily on capital recycling or other non-operating sources rather than organic earnings growth alone. Overall, the growth profile shows robust earnings expansion while the income profile presents a high yield that investors must evaluate against the sustainability of the payout ratio given the company's financial leverage.