American Realty Investors, Inc. (ARL) Key Metrics
ARL valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $267.5M
- Enterprise value
- $382.9M
- P/E (TTM)
- 32.5 10-yr median 17.9
- Forward P/E
- 32.2
- PEG ratio
- 4.41
- Price / sales
- 4.5 10-yr median 4.8
- Price / book
- 0.4 10-yr median 0.5
- EV / EBITDA
- 10.8 10-yr median 12.5
- Dividend yield
- —
- Beta
- 0.72
ARL key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsARL valuation Price multiples at each fiscal year-end price.
ARL returns How much profit the business earns on the capital it uses.
ARL per-share figures Results divided by the shares outstanding at year-end.
ARL financial health Debt, liquidity and how easily interest is covered.
ARL efficiency & capital use Working capital cycle and where the cash goes.
ARL valuation history
ARL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ARL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ARL cash returned to shareholders
ARL price vs earnings per share
ARL key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $259.4M | $237.1M | $281.2M | $414.3M | $204.3M | $174.9M | $274.0M | $201.5M | $199.4M | $80.2M |
| Enterprise value | $384.6M | $322.8M | $336.7M | $498.3M | $693.8M | $618.7M | $700.2M | $644.6M | $1.17B | $1.76B |
| P/E ratio | 16.5 | — | 70.9 | 1.1 | 61.0 | 19.4 | — | 1.2 | — | — |
| Price / sales | 5.2 | 5.0 | 5.6 | 11.0 | 4.9 | 3.0 | 4.6 | 1.7 | 1.6 | 0.7 |
| Price / book | 0.4 | 0.4 | 0.5 | 0.5 | 0.9 | 0.5 | 0.9 | 0.6 | 1.8 | 0.5 |
| Price / free cash flow | — | 217.7 | — | — | — | 50.0 | — | — | — | — |
| Price / operating cash flow | — | 217.7 | — | — | — | 50.0 | — | — | — | 4.6 |
| EV / sales | 7.7 | 6.8 | 6.7 | 13.3 | 16.5 | 10.5 | 11.9 | 5.3 | 9.2 | 14.7 |
| EV / EBITDA | 9.5 | 97.1 | 10.9 | 0.8 | 15.8 | 9.6 | 20.8 | 2.3 | 14.0 | 21.8 |
| EV / free cash flow | — | 296.4 | — | — | — | 176.9 | — | — | — | — |
| Earnings yield | 6.1% | −6.2% | 1.4% | 90.1% | 1.6% | 5.2% | −5.8% | 86.2% | −4.2% | −3.4% |
| Free cash flow yield | −2.1% | 0.5% | −11.0% | −11.0% | −66.2% | 2.0% | −14.8% | −87.3% | −76.5% | −118.1% |
| Dividend yield | — | — | — | — | 0.0% | 0.0% | 0.0% | 0.4% | 0.6% | 1.4% |
| Shareholder yield (dividends + buybacks) | 0.4% | 0.3% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 4.9% | 0.6% | 1.4% |
| Share price at fiscal year-end | $16.06 | $14.68 | $17.41 | $25.65 | $12.65 | $10.90 | $17.13 | $12.07 | $12.85 | $5.17 |
| Per share | ||||||||||
| Revenue per share | $3.10 | $2.93 | $3.13 | $2.32 | $2.60 | $3.68 | $3.69 | $7.24 | $8.14 | $7.71 |
| Earnings per share | $0.97 | −$0.91 | $0.25 | $23.11 | $0.21 | $0.56 | −$1.00 | $10.40 | −$0.54 | −$0.18 |
| Operating cash flow per share | −$0.34 | $0.07 | −$1.92 | −$2.81 | −$0.71 | $0.22 | −$2.54 | −$10.32 | −$2.41 | $1.12 |
| Free cash flow per share | −$0.34 | $0.07 | −$1.92 | −$2.81 | −$8.37 | $0.22 | −$2.54 | −$10.54 | −$9.83 | −$6.11 |
| Cash per share | $5.52 | $6.17 | $7.87 | $14.44 | $4.13 | $2.29 | $3.20 | $2.18 | $2.77 | $1.13 |
| Book value per share | $38.22 | $37.26 | $38.20 | $50.28 | $14.87 | $20.59 | $18.54 | $19.23 | $7.22 | $11.35 |
| Tangible book value per share | $38.22 | $37.26 | $38.20 | $50.28 | $14.87 | $20.59 | $18.54 | $19.23 | $7.22 | $11.35 |
| Dividends per share | — | — | — | — | $0.00 | $0.00 | $0.00 | $0.05 | $0.07 | $0.07 |
| Capex per share | $4.92 | $3.59 | $1.14 | $0.07 | $7.66 | $1.09 | $0.53 | $0.22 | $7.42 | $7.23 |
| Debt per share | $13.27 | $11.48 | $11.31 | $19.64 | $34.44 | $29.95 | $29.84 | $28.71 | $65.13 | $109.31 |
| Shares outstanding | 16.2M | 16.2M | 16.2M | 16.2M | 16.2M | 16.0M | 16.0M | 16.7M | 15.5M | 15.5M |
| Change in shares outstanding | +0.0% | 0.0% | −0.0% | +0.0% | +0.7% | +0.3% | −4.2% | +7.6% | −0.0% | +2.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 2.6% | −2.4% | 0.6% | 71.0% | 1.2% | 2.9% | −5.2% | 80.2% | −5.9% | −1.5% |
| Return on invested capital (ROIC) | −0.8% | −0.8% | −1.1% | −0.9% | −2.7% | −0.0% | −0.0% | 1.5% | 0.9% | 0.6% |
| Return on assets (ROA) | 1.5% | −1.4% | 0.4% | 37.9% | 0.4% | 1.1% | −1.9% | 16.4% | −0.7% | −0.2% |
| Return on tangible assets | 1.4% | −1.4% | 0.4% | 31.2% | 0.4% | 1.0% | −1.9% | 21.0% | −0.7% | −0.2% |
| Free cash flow margin | −11.1% | 2.3% | −61.5% | −120.9% | −321.7% | 5.9% | −68.9% | −145.5% | −120.8% | −79.2% |
| Income quality (OCF / net income) | −0.35 | — | −7.83 | −0.12 | −3.44 | 0.39 | — | −0.99 | — | — |
| Financial health | ||||||||||
| Total debt | $214.4M | $185.4M | $182.7M | $317.2M | $556.2M | $480.6M | $477.4M | $479.4M | $1.01B | $1.70B |
| Cash & short-term investments | $89.1M | $99.7M | $127.2M | $233.2M | $66.7M | $36.8M | $51.2M | $36.4M | $42.9M | $17.5M |
| Net debt | $125.2M | $85.7M | $55.5M | $84.0M | $489.5M | $443.8M | $426.1M | $443.0M | $967.6M | $1.68B |
| Debt / equity | 0.35 | 0.31 | 0.30 | 0.39 | 2.32 | 1.45 | 1.61 | 1.49 | 9.02 | 9.63 |
| Debt / assets | 0.20 | 0.18 | 0.18 | 0.26 | 0.72 | 0.56 | 0.57 | 0.58 | 0.78 | 1.44 |
| Net debt / EBITDA | 3.08 | 25.77 | 1.80 | 0.14 | 11.17 | 6.86 | 12.64 | 1.58 | 11.64 | 20.78 |
| Current ratio | 166.96 | 10.13 | 28.43 | 2.40 | 6.38 | 1.25 | 10.17 | 9.94 | 5.56 | 3.68 |
| Quick ratio | 166.96 | 10.13 | 28.43 | −0.46 | −0.43 | −0.18 | −0.59 | 9.94 | 4.43 | 2.81 |
| Interest coverage | -0.9 | -0.8 | -1.2 | -0.5 | -0.9 | -0.0 | -0.0 | 0.2 | 0.3 | 0.2 |
| Working capital | $466.2M | $322.7M | $397.7M | $343.6M | $274.9M | $69.3M | $293.5M | $272.6M | $195.9M | $150.9M |
| Invested capital | $742.6M | $687.5M | $672.5M | $896.2M | $729.6M | $774.2M | $722.6M | $764.1M | $1.08B | $1.85B |
| Tangible asset value | $819.7M | $802.3M | $816.5M | $812.2M | $336.9M | $330.4M | $296.5M | $321.1M | $165.9M | $176.1M |
| Net current asset value | $191.4M | $127.5M | $205.2M | $204.6M | −$107.8M | −$188.4M | −$208.6M | −$202.0M | −$891.9M | −$791.6M |
| Graham number | $28.92 | — | $14.53 | $161.71 | $8.33 | $16.15 | — | $67.09 | — | — |
| Graham net-net per share | $5.26 | $2.94 | $6.33 | $23.87 | −$0.93 | −$6.54 | −$8.06 | −$19.24 | −$61.30 | −$54.36 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | $0 | $0 | $0 | $901,000 | $1.1M | $1.1M |
| Share buybacks (net) | $1.1M | $802,000 | $908,000 | $0 | $0 | $0 | $0 | $9.0M | $0 | $0 |
| Dividend payout ratio | — | — | — | — | 0.0% | 0.0% | — | 0.5% | — | — |
| Dividends + buybacks / free cash flow | — | 73.6% | — | — | — | 0.0% | — | — | — | — |
| Capex / revenue | 158.9% | 122.4% | 36.6% | 3.1% | 294.3% | 29.7% | 14.5% | 3.0% | 91.3% | 93.8% |
| Capex / operating cash flow | — | 5,319.8% | — | — | — | 500.4% | — | — | — | 643.2% |
| Capex / depreciation | 6.29 | 4.62 | 1.27 | 0.09 | 8.23 | 0.94 | 0.55 | 0.16 | 4.49 | 4.72 |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 12.9% | 30.9% | 40.0% | 50.0% | 71.2% | 33.9% | 33.8% | 20.5% | 14.9% | 15.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 2,198.0 | 1,853.0 | 1,772.5 | 2,357.6 | 2,158.3 | 1,552.6 | 1,357.1 | 523.3 | 436.1 | 457.0 |
| Days of inventory on hand | — | — | — | 10,462.8 | 6,518.9 | 5,556.4 | 4,893.5 | — | 276.6 | 284.3 |
| Days payables outstanding | 238.4 | 296.5 | 425.0 | 971.4 | 628.3 | 390.1 | 357.6 | 198.9 | 272.4 | 291.9 |
| Cash conversion cycle (days) | 1,959.6 | 1,556.5 | 1,347.5 | 11,848.9 | 8,048.8 | 6,718.9 | 5,893.0 | 324.4 | 440.3 | 449.4 |
| Receivables turnover | 0.17 | 0.20 | 0.21 | 0.15 | 0.17 | 0.24 | 0.27 | 0.70 | 0.84 | 0.80 |
| Payables turnover | 1.53 | 1.23 | 0.86 | 0.38 | 0.58 | 0.94 | 1.02 | 1.83 | 1.34 | 1.25 |
| Inventory turnover | — | — | — | 0.03 | 0.06 | 0.07 | 0.07 | — | 1.32 | 1.28 |
| Asset turnover | 0.05 | 0.05 | 0.05 | 0.04 | 0.05 | 0.07 | 0.07 | 0.11 | 0.10 | 0.10 |
| Average receivables | $301.2M | $240.2M | $245.2M | $242.5M | $248.6M | $251.1M | $219.3M | $173.4M | $150.8M | $149.8M |
| Average payables | $40.9M | $22.0M | $32.5M | $48.8M | $35.9M | $26.0M | $25.2M | $32.5M | $47.8M | $50.3M |
| Average inventory | — | — | — | $525.7M | $372.6M | $370.8M | $344.5M | — | $48.6M | $49.0M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from ARL's annual financial statements (latest annual report filed March 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ARL valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), American Realty Investors traded at 16.5 times earnings, against a 10-year median of 17.9. Based on the latest twelve months, the trailing P/E is 32.5 and the forward P/E is 32.2. American Realty Investors earned a return on equity of 2.6% and a return on invested capital of −0.8% in fiscal 2025. It ended the year with $214.4 million of debt and $89.1 million in cash and short-term investments, net debt of $125.2 million. It returned $1.1 million to shareholders: $0 in dividends and $1.1 million in share buybacks. The share count rose 4.1% from 15.5M to 16.2M over 9 years.
See the ARL income statement, the ARL chart for price history, or the ARL stock overview for the latest quote and news.
ARL key metrics FAQ
What is American Realty Investors's P/E ratio?
American Realty Investors's trailing P/E ratio is 32.5 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 32.2. At the end of fiscal 2025 it was 16.5, compared with a 10-year median of 17.9.
What is American Realty Investors's EV/EBITDA?
American Realty Investors's enterprise value was 9.5 times EBITDA at the end of fiscal 2025 (enterprise value $384.6 million, EBITDA $40.7 million); the current EV/EBITDA is 10.8.
What is American Realty Investors's return on equity?
American Realty Investors's return on equity (ROE) was 2.6% in fiscal 2025: net income of $15.7 million on average shareholders' equity of $609.6 million.
What is American Realty Investors's ROIC?
American Realty Investors's return on invested capital was −0.8% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does American Realty Investors have?
American Realty Investors had total debt of $214.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.35 and $125.2 million of net debt (3.08 times EBITDA).
Does American Realty Investors buy back its shares?
Yes. American Realty Investors spent $1.1 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.0% over the year, to 16.2M..
What is American Realty Investors's free cash flow yield?
American Realty Investors generated -$5.6 million of free cash flow in fiscal 2025, a free cash flow yield of −2.1% on its market value at year-end ($259.4 million).
What is American Realty Investors's current ratio?
American Realty Investors's current ratio was 166.96 at the end of fiscal 2025: current assets were 166.96 times current liabilities.