RLJ Lodging Trust (RLJ) 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

+19.6%

$15.28

vs $12.78 price

Levered DCF

$32.37

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.51

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	503.38×	37.81×	36.63×	105.9×	-6.93×	-5.42×	23.63×	15.05×
P/B	0.51×	0.68×	0.78×	0.71×	0.95×	0.87×	0.95×	0.82×
P/S	0.83×	1.14×	1.38×	1.44×	2.91×	5.01×	1.94×	1.62×
EV / EBITDA	9.49×	9.71×	10.3×	11.18×	-187.91×	-56.09×	10.09×	8.84×
Gross margin	-0.9%	28.1%	29.5%	30.3%	23.6%	-6.5%	31.3%	31.2%
Operating margin	9.3%	11.0%	11.5%	10.1%	-6.4%	-15.4%	28.4%	14.7%
Net margin	2.1%	5.0%	5.8%	3.5%	-38.8%	-87.0%	8.2%	10.8%
Current ratio	2.04×	2.02×	2.84×	3.04×	3.84×	4.47×	3.33×	1.82×
Debt / equity	1.07×	1.02×	1×	0.97×	1.06×	1.02×	0.72×	0.63×
Interest coverage	1.12×	1.43×	1.65×	1.3×	-0.47×	0×	4.87×	2.54×
Dividend yield	10.4%	6.1%	4.1%	2.2%	1.4%	3.7%	8.4%	9.0%
Payout ratio	408.6%	139.6%	97.3%	91.6%	-10.4%	-21.3%	196.4%	135.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	1.3%	3.0%	3.3%	1.7%	-12.7%	-15.2%	4.0%	5.5%
Return on invested capital	2.7%	3.2%	3.2%	2.5%	-1.0%	-1.3%	8.0%	4.3%
Return on assets	0.6%	1.4%	1.6%	0.8%	-5.9%	-7.2%	2.2%	3.2%
Free cash flow yield	10.5%	18.3%	17.2%	15.0%	-0.2%	-10.4%	13.1%	13.8%
Earnings yield	2.6%	4.4%	4.2%	2.4%	-13.4%	-17.4%	4.3%	6.7%
Enterprise value	$3B	$3.5B	$3.7B	$3.6B	$4.2B	$4.1B	$4.5B	$4.7B
Net debt / EBITDA	5.98×	5.37×	5.15×	5.81×	-84.51×	-24.54×	3.24×	3.51×
Cash conversion cycle (days)	-30	-51	-51	-57	-80	-117	-53	-31