WPC Real Estate

W. P. Carey Inc.

$64.63-0.19%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Real Estate
Industry: REIT - Diversified
Country: United States
Market cap: 14.7B USD
Enterprise value: 23.5B USD
Full-time employees: 199

Overall health

Strength: growing faster than most peersgrowing faster than peers
About average: valuation and risk (debt, liquidity and share-price swings)valuation and risk

Ranks #187 of 632 real estate companies (top 30%)

See how it ranks against its peers

Worth knowing

Profit is backed by cash. Free cash flow is 188% of reported profit.
W. P. Carey's free cash flow is 188% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

StockQuotient Score

61/ 100▼ 1 since Oct 27 close

Oct 5 61 → Nov 4 61

Valuation

Is the price right?

59/100

Moderate▼ 2 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 2.3% (existing holders diluted)

Valuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 61 → 59

Share price +1.8%-2
Company's reported figures updated+1
Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Helped by:

▲ EBITDA yield
▲ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield4.4%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.19Sector median: 0.0535 · MAD: 0.0484

EBITDA yield6.5%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score 0.57Sector median: 0.0536 · MAD: 0.0204

Free cash flow yield8.3%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingReported value20% base weight · Z-score 0.40Sector median: 0.0650 · MAD: 0.0444

Other data (not scored)

Book yield58.9%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 1.1277 · MAD: 0.5490

Growth

Is it growing?

74/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ EPS growth
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth86.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.43Sector median: 0.1117 · MAD: 0.3101

3-year revenue growth2.4%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.18Sector median: 0.0378 · MAD: 0.0744

Revenue growth9.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.65Sector median: 0.0297 · MAD: 0.0927

Profitability

Does it earn well?

72/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Net margin rose 7.0 points to 36.3%

Why

Stronger than most peers on:

▲ ROA
▲ Operating margin
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin50.8%

Yahoo Finance fallback · SEC operating income not reported in standard form · fiscal year to Dec 2025Reported value33% base weight · Z-score 1.06Sector median: 0.2683 · MAD: 0.2257

Return on assets3.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.03Sector median: 0.0211 · MAD: 0.0134

Return on invested capital4.9%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score 0.76Sector median: 0.0341 · MAD: 0.0197

Other data (not scored)

Gross margin94.4%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.5380 · MAD: 0.2259

Return on equity7.5%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0521 · MAD: 0.0465

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Held back by:

▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.77

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.08Sector median: 0.7490 · MAD: 0.3270

Current ratio1.16×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score -0.04Sector median: 1.1950 · MAD: 0.7210

Debt / equity1.02×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.56Sector median: 0.8040 · MAD: 0.3893

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about W. P. Carey

Is W. P. Carey getting weaker?: Its latest SEC filing (Jul 29, 2026) was mixed: some things better, some worse: net margin rose 7.0 points to 36.3%; share count up 2.3%. Its overall score is 61/100, down 1 since Oct 28, 2026.
How is W. P. Carey valued vs its peers?: Priced about in line with its peers. Valuation scores 59/100 against 762 real estate peers. EBITDA yield 6.5% vs a peer median of 5.4% (stronger than 68% of peers).EBITDA yield 6.5% vs peers 5.4% (stronger than 68% of peers).
Is W. P. Carey growing?: Yes, faster than most of its peers. Growth scores 74/100 against 762 real estate peers. Earnings per share growth 86.4% vs a peer median of 11.2% (stronger than 84% of peers).Earnings per share growth 86.4% vs peers 11.2% (stronger than 84% of peers).
How profitable is W. P. Carey?: More profitable than most of its peers. Profitability scores 72/100 against 762 real estate peers. Return on assets 3.5% vs a peer median of 2.1% (stronger than 78% of peers).Return on assets 3.5% vs peers 2.1% (stronger than 78% of peers).
How risky is W. P. Carey?: Moderate risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Debt / equity 1.02× vs a peer median of 0.80× (weaker than 65% of peers).Debt / equity 1.02× vs peers 0.80× (weaker than 65% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 29, 2026 · compared with the quarter ended Mar 31, 2026

Mixed: some things better, some worse

Net margin rose 7.0 points to 36.3%
Share count up 2.3% (existing holders diluted)

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.8B USD	1.8B USD	+1.7%
Net income (12 months)	516.8M USD	651.0M USD	+26.0%
Debt	8.8B USD	8.9B USD	+1.1%
Cash	239.3M USD	163.5M USD	−31.7%
Shares outstanding	222.7M	227.8M	+2.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Real Estate · 124 companies

Valuations in Real Estate are within their usual range since 2016.

30% of months since 2016 were valued lower than now.
15% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +4% and earnings +25% (medians): earnings grew faster than prices.
Median price-to-sales is +112% vs the whole market, against a usual +154%.

2016Shaded: most expensive fifth of its range2026

Shown for Real Estate: too few REIT - Diversified companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	99.7%	99.8%	100.0%	—	—	—
Operating margin	45.4%	41.4%	41.5%	46.2%	46.6%	▲ 0.4 pts
Net margin	30.8%	40.5%	40.7%	29.1%	27.2%	▼ 1.9 pts
Return on assets (ROA)	2.6%	3.3%	3.9%	2.6%	2.6%	▼ 0.0 pts
Return on equity (ROE)	5.4%	6.7%	8.1%	5.5%	5.7%	▲ 0.3 pts
Debt to equity	0.90×	0.88×	0.94×	0.95×	1.07×	▲ 13%
Interest coverage	3.07×	2.79×	2.48×	2.63×	2.74×	▲ 4.2%

WPC price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Questions investors ask about W. P. Carey

Is W. P. Carey getting weaker?

Its latest SEC filing (Jul 29, 2026) was mixed: some things better, some worse: net margin rose 7.0 points to 36.3%; share count up 2.3%. Its overall score is 61/100, down 1 since Oct 28, 2026.

How is W. P. Carey valued vs its peers?

Priced about in line with its peers. Valuation scores 59/100 against 762 real estate peers. EBITDA yield 6.5% vs a peer median of 5.4% (stronger than 68% of peers).EBITDA yield 6.5% vs peers 5.4% (stronger than 68% of peers).

Is W. P. Carey growing?

Yes, faster than most of its peers. Growth scores 74/100 against 762 real estate peers. Earnings per share growth 86.4% vs a peer median of 11.2% (stronger than 84% of peers).Earnings per share growth 86.4% vs peers 11.2% (stronger than 84% of peers).

How profitable is W. P. Carey?

More profitable than most of its peers. Profitability scores 72/100 against 762 real estate peers. Return on assets 3.5% vs a peer median of 2.1% (stronger than 78% of peers).Return on assets 3.5% vs peers 2.1% (stronger than 78% of peers).

How risky is W. P. Carey?

Moderate risk relative to 762 real estate peers, judged on debt, liquidity and share-price swings. Debt / equity 1.02× vs a peer median of 0.80× (weaker than 65% of peers).Debt / equity 1.02× vs peers 0.80× (weaker than 65% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.8B USD

1.8B USD

+1.7%

Net income (12 months)

516.8M USD

651.0M USD

+26.0%

Debt

8.8B USD

8.9B USD

+1.1%

Cash

239.3M USD

163.5M USD

−31.7%

Shares outstanding

222.7M

227.8M

+2.3%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

99.7%

99.8%

100.0%

—

Operating margin

45.4%

41.4%

41.5%

46.2%

46.6%

▲ 0.4 pts

Net margin

30.8%

40.5%

40.7%

29.1%

27.2%

▼ 1.9 pts

Return on assets (ROA)

2.6%

3.3%

3.9%

2.6%

▼ 0.0 pts

Return on equity (ROE)

5.4%

6.7%

8.1%

5.5%

5.7%

▲ 0.3 pts

Debt to equity

0.90×

0.88×

0.94×

0.95×

1.07×

▲ 13%

Interest coverage

3.07×

2.79×

2.48×

2.63×

2.74×

▲ 4.2%