Americold Realty Trust, Inc. (COLD) 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

-162.5%

-$9.03

vs $14.46 price

Levered DCF

-$1.79

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-0.01

Distress zone

Rating

D+

Overall 1 / 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	-32.15×	-64.85×	-24.81×	-392.65×	-273.25×	311.08×	129.85×	77.39×
P/B	1.27×	1.86×	2.31×	2.02×	2.11×	2×	3.44×	5.11×
P/S	1.41×	2.29×	3.12×	2.62×	3.13×	3.82×	3.53×	2.25×
EV / EBITDA	21.18×	24.75×	71.07×	26.72×	30.46×	31.35×	26.57×	19.24×
Gross margin	4.0%	31.8%	28.8%	23.9%	23.2%	27.7%	26.8%	25.3%
Operating margin	3.8%	4.7%	-4.1%	3.0%	2.7%	8.5%	7.4%	11.2%
Net margin	-4.4%	-3.5%	-12.6%	-0.7%	-1.1%	1.2%	2.7%	3.0%
Current ratio	0.66×	0.63×	0.6×	0.52×	0.54×	2.45×	1.8×	2.3×
Debt / equity	1.56×	1.12×	0.97×	0.95×	0.85×	0.85×	1.05×	2.14×
Interest coverage	0.67×	0.92×	-0.77×	0.76×	0.74×	1.84×	1.39×	1.93×
Dividend yield	7.1%	4.1%	2.9%	3.1%	2.7%	2.2%	2.2%	2.2%
Payout ratio	-228.2%	-267.3%	-72.0%	-1227.9%	-747.1%	680.9%	281.2%	163.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-4.0%	-2.9%	-9.3%	-0.5%	-0.8%	0.6%	2.6%	6.8%
Return on invested capital	1.1%	1.6%	-1.5%	0.4%	0.9%	2.3%	3.4%	7.7%
Return on assets	-1.4%	-1.2%	-4.3%	-0.2%	-0.4%	0.3%	1.2%	1.9%
Free cash flow yield	-5.9%	1.7%	0.4%	-0.3%	-2.6%	-1.4%	-1.1%	1.2%
Earnings yield	-3.1%	-1.5%	-4.0%	-0.3%	-0.4%	0.3%	0.8%	1.3%
Enterprise value	$8B	$9.7B	$11.8B	$11.2B	$11.8B	$10.2B	$8B	$4.9B
Net debt / EBITDA	11.5×	9.24×	20.71×	8.45×	8.59×	8.02×	5.64×	5.1×
Cash conversion cycle (days)	23	16	27	25	17	24	20	21