Camden Property Trust (CPT) 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

-16.5%

$85.15

vs $101.94 price

Levered DCF

$40.70

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.28

Distress zone

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	31.1×	77.36×	26.76×	18.43×	60.16×	80.58×	47.58×	53.69×
P/B	2.73×	2.69×	2.17×	2.41×	4.34×	2.88×	2.88×	2.49×
P/S	7.58×	8.15×	7×	8.46×	15.94×	9.51×	10.16×	8.78×
EV / EBITDA	13.77×	18.13×	12.69×	18.7×	24.97×	21.51×	20.16×	19.5×
Gross margin	61.4%	61.2%	62.1%	62.8%	60.8%	59.5%	61.4%	60.9%
Operating margin	18.4%	19.3%	21.0%	18.4%	19.8%	20.2%	24.3%	24.8%
Net margin	24.4%	10.6%	26.2%	45.9%	26.6%	11.9%	21.4%	16.4%
Current ratio	0.1×	0.1×	0.65×	0.07×	1.84×	1.36×	0.16×	0.24×
Debt / equity	0.89×	0.75×	0.75×	0.74×	0.76×	0.92×	0.7×	0.69×
Interest coverage	2.09×	2.29×	2.43×	2.3×	2.32×	2.3×	3.1×	2.81×
Dividend yield	3.9%	3.6%	4.0%	3.3%	1.9%	3.4%	3.0%	3.6%
Payout ratio	119.9%	276.2%	107.8%	60.7%	112.9%	269.0%	144.5%	190.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.8%	3.5%	8.1%	13.1%	7.2%	3.6%	6.1%	4.6%
Return on invested capital	3.3%	3.5%	3.6%	2.9%	2.9%	3.0%	3.9%	3.9%
Return on assets	4.3%	1.8%	4.3%	7.0%	3.8%	1.7%	3.3%	2.5%
Free cash flow yield	3.2%	3.0%	3.6%	2.5%	0.8%	0.9%	1.4%	1.7%
Earnings yield	3.2%	1.3%	3.7%	5.4%	1.7%	1.2%	2.1%	1.9%
Enterprise value	$15.8B	$16.1B	$14.2B	$15.7B	$20.8B	$12.7B	$12.9B	$10.7B
Net debt / EBITDA	3.38×	3.91×	3.08×	4.37×	3.07×	4.66×	3.89×	4.18×
Cash conversion cycle (days)	-147	-129	-136	-142	-150	-144	-150	-135