Bedrijfsoverzicht
W. P. Carey Inc. operates as one of the largest net lease real estate investment trusts, maintaining a well-diversified portfolio of high-quality, operationally critical commercial real estate assets. The company functions within the Real Estate sector, specifically under the industry classification of REIT - Diversified, which denotes its focus on a broad range of property types rather than a single vertical. As of December 31, 2025, the enterprise holds 1,682 net lease properties encompassing approximately 183 million square feet, with a physical presence supported by offices in New York and London. The scale of the organization is evidenced by a market capitalization of $15.71B and annual revenue reaching $1.71B, supported by a workforce of 199 employees. These valuation and revenue figures indicate that W. P. Carey Inc. commands a significant position within the net lease REIT landscape, reflecting substantial asset ownership and a robust operational footprint relative to peers in the diversified real estate investment space.
Financiële gezondheid
The company reported revenue of $1.71B and net income of $466.36M for the trailing twelve months, with an EBITDA figure of $1.41B. The substantial gap between the $1.71B revenue and the $466.36M net income reveals a cost structure where nearly 72.7% of revenue is consumed by operating expenses, taxes, and interest before arriving at the bottom line. Free cash flow stands at $615.27M, which provides the company with significant financial flexibility to manage capital expenditures, service debt obligations, or pursue strategic acquisitions without relying on external financing. The company maintains a gross margin of 93.3%, indicating that the core leasing business incurs minimal variable costs relative to rental income, while the operating margin of 50.9% demonstrates efficient management of overhead and administrative expenses. The profit margin of 27.3% further illustrates the company's ability to convert a significant portion of its revenue into actual earnings available to shareholders. On the liability side, the company holds $155.57M in cash against $8.87B in total debt, resulting in a debt-to-equity ratio of 109.06%, which characterizes a highly leveraged balance sheet typical for REITs. This leverage level suggests the company utilizes borrowed capital extensively to finance its property portfolio, amplifying returns but also increasing sensitivity to interest rate fluctuations. The current ratio is recorded at 0.84, indicating that short-term assets are slightly lower than short-term liabilities, which implies a reliance on long-term financing or refinancing capabilities to meet immediate obligations. Return on equity stands at 5.7% while return on assets is 3.1%, metrics that reveal the efficiency of management in generating returns on the capital invested; the lower ROA compared to ROE highlights the dilutive effect of the high debt load on overall asset returns.
Waarderingsbeoordeling
The trailing twelve-month P/E ratio is 33.94, while the forward P/E is 25.68, implying that the market expects earnings to grow significantly in the coming year to justify the lower forward multiple. The price-to-book ratio of 1.93 indicates that the market values the company at nearly double its book value, suggesting a premium assigned to the quality and diversification of the underlying real estate assets. Alternative valuation metrics include a price-to-sales ratio of 9.21 and an EV/EBITDA of 17.27, which suggest that the company is priced relative to its sales generation and operating earnings power rather than just equity value. The stock's trading range over the last year spans from a low of $58.00 to a high of $75.69, and without a specific current share price provided in the facts, the valuation context relies on the established multiples and historical price bounds. The beta value is 0.79, indicating that the stock exhibits lower price volatility relative to the broader market, making it a potentially less volatile investment compared to the S&P 500 average.
Growth & Income
Revenue growth year-over-year is 8.8%, while earnings growth year-over-year is 218.1%, indicating that earnings are growing substantially faster than revenue, which implies significant cost leverage or one-time income adjustments impacting the bottom line. As a dividend payer, the company offers a dividend yield of 5.2%, yet the payout ratio stands at 171.6%, suggesting that the current dividend is funded largely by capital returns or retained earnings rather than current net income. This high payout ratio, combined with the 218.1% earnings growth, presents a dynamic income profile where the sustainability of the dividend depends heavily on the continued expansion of earnings rather than current profitability alone. The overall growth and income profile is defined by high leverage on earnings growth paired with a generous dividend yield that exceeds the rate of earnings generation in the current period.