Alexander's, Inc. (ALX) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+31.5%

$342.26

vs $260.31 price

Levered DCF

$180.48

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	39.63×	23.65×	10.69×	19.58×	10.03×	33.86×	79.79×	47.47×
P/B	10.25×	5.81×	4.61×	4.77×	5.28×	6.99×	6.67×	5.47×
P/S	5.25×	4.54×	4.87×	5.48×	6.47×	7.13×	7.47×	6.7×
EV / EBITDA	16.39×	12.43×	13.9×	17.2×	10.6×	20.04×	17.44×	17.45×
Gross margin	16.1%	100.0%	55.0%	100.0%	100.0%	55.6%	60.4%	59.7%
Operating margin	30.6%	36.1%	52.2%	38.6%	37.0%	52.4%	44.0%	43.2%
Net margin	13.2%	19.2%	45.5%	28.0%	64.5%	21.1%	9.4%	14.1%
Current ratio	8.33×	12.8×	13.04×	12.38×	13.73×	16.53×	15.09×	21.56×
Debt / equity	8.64×	6.24×	4.6×	4.61×	4.31×	5.69×	3.83×	4.07×
Interest coverage	1.26×	1.3×	2.01×	2.78×	3.87×	4.31×	2.56×	2.26×
Dividend yield	8.3%	9.0%	8.4%	8.2%	6.9%	6.5%	5.4%	5.9%
Payout ratio	327.5%	212.6%	90.1%	160.1%	69.4%	219.8%	435.1%	280.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	25.9%	24.6%	43.1%	24.4%	52.6%	20.6%	8.4%	11.5%
Return on invested capital	6.1%	6.3%	8.7%	5.9%	5.7%	7.6%	4.5%	6.9%
Return on assets	2.5%	3.2%	7.3%	4.1%	9.5%	3.0%	1.7%	2.2%
Free cash flow yield	6.6%	5.3%	10.0%	9.1%	8.9%	5.5%	7.5%	4.5%
Earnings yield	2.5%	4.2%	9.3%	5.1%	10.0%	3.0%	1.3%	2.1%
Enterprise value	$1.9B	$1.8B	$1.7B	$2B	$2B	$2.1B	$2.4B	$2.4B
Net debt / EBITDA	6.91×	5.3×	4.71×	7.61×	3.39×	6.79×	4.97×	6.29×
Cash conversion cycle (days)	119	188	26	234	251	135	111	117