Pebblebrook Hotel Trust (PEB) 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

+201.4%

$66.18

vs $21.96 price

Levered DCF

$30.82

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.43

Distress zone

Rating

C+

Overall 2 / 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	-12.58×	-34.74×	-17.18×	-14.09×	-12.43×	-5.78×	42.56×	157.28×
P/B	0.54×	0.6×	0.7×	0.58×	0.93×	0.75×	0.97×	0.55×
P/S	0.9×	1.12×	1.37×	1.25×	3.99×	5.54×	2.17×	2.51×
EV / EBITDA	13.08×	13×	16.04×	18.51×	45.09×	-68.36×	13.58×	27.1×
Gross margin	-6.7%	25.2%	24.9%	27.5%	17.0%	-11.5%	31.8%	31.7%
Operating margin	5.1%	5.8%	2.7%	1.1%	-12.2%	-66.1%	14.2%	8.1%
Net margin	-4.5%	-0.3%	-5.5%	-6.3%	-25.2%	-88.4%	7.2%	1.6%
Current ratio	0.7×	0.72×	0.19×	0.11×	0.38×	0.7×	0.44×	0.53×
Debt / equity	1×	0.95×	0.96×	0.9×	0.87×	0.86×	0.76×	0.73×
Interest coverage	0.73×	0.82×	0.35×	0.18×	-1.03×	0×	2.11×	1.24×
Dividend yield	3.9%	3.2%	2.8%	3.0%	1.5%	3.5%	6.2%	5.9%
Payout ratio	-78.9%	-1227.0%	-68.7%	-60.4%	-24.2%	-22.1%	188.3%	909.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-2.7%	-0.2%	-2.8%	-2.9%	-5.9%	-12.0%	3.2%	0.4%
Return on invested capital	1.5%	-0.0%	0.7%	0.3%	-1.5%	-4.8%	3.4%	0.9%
Return on assets	-1.2%	-0.1%	-1.3%	-1.4%	-3.0%	-6.4%	1.8%	0.2%
Free cash flow yield	11.5%	16.9%	12.1%	9.3%	-0.4%	-13.3%	11.3%	6.5%
Earnings yield	-5.0%	-0.3%	-4.0%	-5.0%	-6.3%	-16.0%	3.3%	0.6%
Enterprise value	$3.6B	$4B	$4.4B	$4.4B	$5.6B	$5.1B	$6.2B	$4.7B
Net debt / EBITDA	8.26×	7.71×	8.95×	11.19×	21.65×	-35.59×	5.93×	15.22×
Cash conversion cycle (days)	-38	-65	-70	-79	-132	-159	-75	-206