STAG Industrial, Inc. (STAG) 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

+60.6%

$60.09

vs $37.42 price

Levered DCF

$27.91

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.24

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	25.18×	32.52×	36.69×	32.31×	41.7×	23.73×	90.2×	27.64×
P/B	1.92×	1.78×	2.1×	1.71×	2.36×	1.72×	1.72×	1.59×
P/S	8.17×	8.03×	10×	8.79×	13.94×	9.64×	9.75×	7.33×
EV / EBITDA	14.17×	15.33×	17.03×	15.48×	20.12×	13.06×	18.98×	12.28×
Gross margin	61.3%	79.8%	80.3%	80.9%	80.8%	81.5%	81.5%	80.3%
Operating margin	37.7%	35.2%	34.2%	31.9%	29.7%	28.8%	26.9%	22.9%
Net margin	32.4%	24.7%	27.2%	27.1%	34.2%	41.8%	12.1%	26.5%
Current ratio	0.41×	0.48×	0.45×	0.74×	0.45×	0.72×	0.69×	0.64×
Debt / equity	0.92×	0.89×	0.79×	0.75×	0.68×	0.64×	0.72×	0.82×
Interest coverage	2.32×	2.39×	2.56×	2.69×	2.63×	2.23×	2×	1.64×
Dividend yield	4.1%	4.5%	3.8%	4.6%	3.1%	4.8%	4.8%	6.2%
Payout ratio	103.8%	145.3%	138.7%	149.6%	127.8%	111.0%	384.7%	171.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.6%	5.5%	5.7%	5.3%	5.8%	7.4%	2.1%	5.8%
Return on invested capital	72.4%	4.0%	3.9%	3.5%	2.9%	3.0%	2.7%	2.6%
Return on assets	3.8%	2.8%	3.1%	2.9%	3.3%	4.3%	1.2%	3.0%
Free cash flow yield	5.8%	6.1%	5.3%	5.8%	2.2%	3.8%	0.7%	3.4%
Earnings yield	4.0%	3.1%	2.7%	3.1%	2.5%	4.3%	1.2%	3.6%
Enterprise value	$10.2B	$9.2B	$9.7B	$8.3B	$10.1B	$6.4B	$5.6B	$3.9B
Net debt / EBITDA	4.56×	5.05×	4.62×	4.69×	4.46×	3.51×	5.59×	4.16×
Cash conversion cycle (days)	-84	-234	-151	-219	-198	-226	-209	-197