Americold Realty Trust (COLD) stock analysis
Close on Nov 11, 2026Market cap $4.62BP/E 19.5Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed12 of 30 checks passed
Americold Realty Trust passes 12 of the 30 checks behind our score; 10 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 4/6
- Growth
- 2/6
- Past performance
- 3/6
- Financial health
- 0/6
- Dividend
- 3/6
What stands out
Margin of safety over 20%
The price is 43.8% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $16.18 is below our fair value estimate of $28.77.
Return on capital over 10%
Return on invested capital was 13.2%, above the 10% that usually covers the cost of capital.
P/E below the industry
Americold Realty Trust's P/E of 19.5 is below the Miscellaneous Investing median of 26.3.
What to watch
Return on equity under 15%
Return on equity was 7.9% over the last twelve months and averaged -3.4% over five years; we look for 15% on both.
Revenue growing under 10% a year
Revenue grew -3.7% a year over the last three fiscal years, short of the 10% we look for.
Interest not well covered
Operating income covers interest expense 2.4 times; we look for at least 5.
Elevated bankruptcy risk
The Altman Z-score is 0.67; above 3 is the safe zone and below 1.8 the distress zone.
Valuation4/6
P/E against its history
Not enough price and earnings history to compare.
P/E below the industry
Americold Realty Trust's P/E of 19.5 is below the Miscellaneous Investing median of 26.3.
EV/EBITDA below its 5-year median
Americold Realty Trust's EV/EBITDA of 5.8 is below its 5-year median of 19.0.
P/B above the industry
Americold Realty Trust's price-to-book of 1.52 is above the Miscellaneous Investing median of 1.20.
Trading below fair value
The share price of $16.18 is below our fair value estimate of $28.77.
Margin of safety over 20%
The price is 43.8% below fair value, more than the 20% cushion we look for.
Growth2/6
Revenue growing under 10% a year
Revenue grew -3.7% a year over the last three fiscal years, short of the 10% we look for.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing slower than the industry
Revenue grew 1.3% over the last twelve months; the Miscellaneous Investing median is 4.6%.
Guidance raised
Americold Realty Trust raised its 2026 Total Company NOI (constant currency) outlook on Aug 6, 2026.
Gross margin improving
Gross margin was 32.2% over the last twelve months, against 31.9% a year earlier.
Past performance3/6
Return on equity under 15%
Return on equity was 7.9% over the last twelve months and averaged -3.4% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 13.2%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
Americold Realty Trust's return on equity of 7.9% is above the Miscellaneous Investing median of 3.1%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 9.0% over the last twelve months, against a 5-year average of -4.5%.
Net margin below the industry
Americold Realty Trust's net margin of 9.0% is below the Miscellaneous Investing median of 10.3%.
Financial health0/6
Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest not well covered
Operating income covers interest expense 2.4 times; we look for at least 5.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Elevated bankruptcy risk
The Altman Z-score is 0.67; above 3 is the safe zone and below 1.8 the distress zone.
Dividend3/6
Pays a dividend
Americold Realty Trust paid dividends worth 5.7% of the share price over the last twelve months.
Yield above Treasuries
The 5.7% yield is above the 4.4% on a 1-year Treasury.
Yield in the top quarter
The top quarter of US dividend payers yield 3.8% or more; Americold Realty Trust yields 5.7%.
Dividend stability
Fewer than five years of dividend history.
Not covered by earnings
Dividends take 111% of net income, leaving little room.
Cash-flow cover
Needs dividends paid and free cash flow.
Fair value
How we estimate itOur estimate per share
$28.77
The share price is 44% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 26.3× | – | 26.3× | $21.86 | 47% |
| EV/EBITDA | 14.3× | 19.0× | 9.5× | $40.15 | 41% |
| P/B | 1.6× | 1.9× | 1.2× | $16.58 | 12% |
| Earnings powerleft out, too far from the others | 8.5% cost of equity | – | – | $2.71 | – |
| Fair value | $28.77 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Miscellaneous Investing median 26.3
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $62.27M
- Value traded per 1% price move
- $32.62M
Downside
Low risk
- Typical loss in a bad month
- 14.8%
- Volatility (annualized)
- 44%
- Sharpe ratio, 1 year
- 0.89
- Beta to the S&P 500 (5Y)
- 0.72
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -2.4% | -3.7% | +5.5% | – | |
| Gross profit | -0.9% | +6.4% | – | – | |
| Operating income | -94.2% | -56.5% | -46.7% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -3.8% | 0.9% | -3.7% | |
| Return on assets | – | 0.4% | -1.4% | |
| Interest coverage | 1.1× | 1.8× | 0.0× | |
| Inventory turnover | – | – | 247.2× | |
| Capex to revenue | 5.0% | 19.0% | 22.2% | |
| Diluted shares | 70M | 207M | 286M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Americold Realty Trust generated $1.71B from operations and spent $3.12B on capital expenditure, dividends and share buybacks. 61% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -4.4% | 0.33× | 2.57× | -3.7% |
| FY2024 | -3.5% | 0.34× | 2.26× | -2.7% |
| FY2023 | -12.6% | 0.33× | 2.16× | -9.1% |
| FY2022 | -0.7% | 0.36× | 2.09× | -0.5% |
| FY2021 | -1.1% | 0.34× | 2.05× | -0.8% |
| FY2020 | 1.2% | 0.33× | 2.13× | 0.9% |
| FY2019 | 2.7% | 0.53× | 2.64× | 3.8% |
| FY2018 | 3.0% | 0.65× | 9.48× | 18.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero-$114.55M
- Cash generatingOperating cash flow above zero$359.64M
- Return on assets improvedROA up on the prior year-1.2% → -1.5%
- Earnings backed by cashOperating cash flow above net income$359.64M vs -$114.55M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise285M → 286M
- Gross margin improvedGross margin up on the prior year31.75% → 32.26%
- More efficientAsset turnover rose0.34 → 0.34
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