Americold Realty Trust, Inc. (COLD) Fundamental Analysis: Bull vs. Bear Case

COLD

Americold Realty Trust, Inc.

Fundamental data last updated:October 27, 2026

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company profile

SECTOR

Real Estate

industry

REIT - Industrial

Exchange

NYSE

County of HQ

United States

Next Earnings Date

11/05/2026

Business Summary

Americold Realty Trust operates as a REIT specializing in temperature-controlled warehouses. Its business model centers on providing essential infrastructure for the food supply chain, generating revenue through long-term leases. The company's competitive moat lies in its extensive network and strategic locations, which create high switching costs for customers. However, maintaining this advantage requires continuous investment in technology and infrastructure to meet evolving industry demands.

VALUATION

P/E

-9.20

Market Cap ($M USD)

$4.17B

Forward P/E

63.24 PEG

0.00 PRICE TO SALES

1.59 PRICE TO BOOK

1.73 EV / EBITDA

126.40 5-Year Average P/E

Free Cash Flow Yield

-2.83%

DCF Value

$-9.37

Graham Number

N/A

Price to FCF

-35.38

EV to FCF

-74.25

Earnings Yield

-10.89%

FCF Yield

-2.83%

DIVIDEND

Yield

6.30%

Annual Payout

$0.92

Payout Ratio

-57.96%

Consecutive Years of Dividend Growth

5-Year Dividend Growth Rate

Financial Health & Profitability

Earnings Per Share

-$1.59

Next Year EPS Growth Estimate

-$1.25

Next Year Revenue Growth Estimate

$2.55B

Return on Equity (ROE)

-16.36%

FREE CASH FLOW

Operating Margin

4.51%

Debt-to-Equity

1.91 Piotroski F-Score

2 Altman Z-Score

-0.01

Return on Invested Capital (ROIC)

1.61%

Current Ratio

0.41 Quick Ratio

0.41 Net Debt to EBITDA

66.17 Interest Coverage

0.94 Gross Profit margin

-4.23%

FCF PER SHARE

$-0.41

REVENUE PER SHARE

$9.11

Gainseekers Quantitative Analysis

Summary

The market’s current valuation of Americold Realty Trust, Inc. seems to be a stark mispricing when compared to its DCF Value, which is deeply negative. The Forward P/E ratio of 63.24 suggests that investors are banking on a significant turnaround, yet the negative Earnings Yield and Altman Z-score indicate financial distress and potential insolvency risk. With a Price/Book ratio of 1.73, the stock isn’t cheap, especially given its negative ROE and EPS. The market appears to be ignoring the red flags, possibly due to the “Buy” consensus rating, but the fundamentals paint a grim picture.

AI Exposure / Tech Reliance

As a REIT in the industrial sector, Americold Realty Trust is positioned to leverage AI and tech advancements in logistics and supply chain management. However, its current financial metrics suggest it may struggle to invest in such technologies. The company's ability to adapt will depend heavily on improving its cash flow and operational efficiency.

The Bull Case

For a value or GARP investor, the allure of Americold might lie in its potential for operational turnaround. Despite a low ROIC of 1.61%, the company's TTM Yield of 6.30% offers a tempting income stream. The Piotroski F-Score of 2 is concerning, but the operating margin of 4.51% suggests some pricing power. If management can harness these elements, there could be room for capital efficiency improvements.

The Bear Case

The bear case for Americold is compelling. The company's EV to EBITDA ratio of 126.40 is alarmingly high, indicating overvaluation. Its negative FCF Yield and Price to FCF ratio highlight severe cash flow issues. With a Net Debt to EBITDA of 66.17, the financial leverage is dangerously high, and the stock's proximity to its 52-week high suggests it's technically overextended. These factors, combined with a negative gross profit margin, underscore significant structural risks.

Market Sentiment & Smart Money

Short Interest %

Analyst Consensus

Buy

Average Analyst Price Target

$16.13

Institutional Ownership %

1-Year Beta

0.94 Insider Buying % (6 Mo)

Distance to 52-Week High

15.62%

Distance to 52-Week Low

30.82%

EARNINGS SURPRISE %

-212,400.00%

50-DAY SMA

$14.42

200-DAY SMA

$13.77

⚠️ Financial Disclaimer:
This content is for informational purposes only and is not financial advice. Information may be delayed or inaccurate. We may earn a commission from partner links.