LXP Industrial Trust (LXP) 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

+9.2%

$66.83

vs $61.18 price

Levered DCF

$25.49

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

1.21

Distress zone

Rating

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	27.24×	62.46×	120.98×	26.37×	11.57×	16.09×	9.23×	8.55×
P/B	1.42×	1.13×	1.29×	1.19×	1.89×	1.44×	1.48×	1.46×
P/S	8.27×	6.6×	8.46×	8.73×	12.61×	8.58×	7.74×	4.91×
EV / EBITDA	10.85×	12.01×	15.95×	11.81×	9×	14.75×	13.96×	6.5×
Gross margin	-30.7%	29.3%	29.0%	26.7%	34.7%	87.3%	87.1%	46.7%
Operating margin	14.0%	18.2%	18.3%	14.6%	24.4%	78.1%	77.7%	38.7%
Net margin	32.3%	12.4%	8.9%	35.4%	111.2%	55.5%	85.9%	57.5%
Current ratio	85.31×	1.4×	3.12×	1.31×	2.18×	2.07×	1.91×	2.64×
Debt / equity	0.67×	0.7×	0.75×	0.59×	0.61×	0.63×	0.72×	1.03×
Interest coverage	0.83×	0.98×	1.34×	1.03×	1.8×	4.68×	3.89×	1.91×
Dividend yield	5.7%	6.7%	5.3%	5.1%	3.0%	4.2%	4.9%	9.0%
Payout ratio	145.2%	355.1%	500.1%	125.2%	33.5%	64.6%	43.9%	77.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.6%	2.1%	1.4%	4.8%	16.7%	9.3%	16.4%	17.1%
Return on invested capital	8.6%	1.8%	1.5%	1.2%	2.2%	7.6%	8.2%	5.3%
Return on assets	3.2%	1.2%	0.7%	2.8%	9.6%	5.2%	8.8%	7.7%
Free cash flow yield	5.7%	8.2%	6.7%	5.8%	4.7%	6.5%	6.9%	10.4%
Earnings yield	3.9%	1.9%	1.1%	4.1%	8.8%	6.5%	11.1%	11.7%
Enterprise value	$4.1B	$3.7B	$4.3B	$4.1B	$5.5B	$3.9B	$3.6B	$3.1B
Net debt / EBITDA	3.18×	4.38×	5.38×	3.8×	1.96×	4.03×	4.24×	2.48×
Cash conversion cycle (days)	92	7	4	-31	-55	-404	-182	4