COLD
Americold Realty Trust, Inc.
COLD's fundamentals are mixed, but it looks cheap: trading at 19x earnings, less than half its usual 97x. Analysts expect a turn to a loss.
COLD Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| N/A | |
| N/A |
COLD's profitability is currently healthy, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for real estate companies like COLD.
COLD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 19x | $15.90 | — |
| Cheap | 76x | $63.16 | +297% |
| Fair | 96x | $79.81 | +402% |
| Expensive | 232x | $193 | +1111% |
Historical ranges are pointers, not guarantees.
COLD's PE is in its cheap range at 19x.
COLD Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Turning to a loss | |
| Stable | |
| Weakening | |
| Limited | |
| Moderate |
Analysts expect COLD's earnings and profitability to decline, with its revenue holding steady.
COLD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.83 | +$1.04 |
| Q2 2026 | -$1.59 | -$1.41 |
| Q1 2026 | -$0.39 | +$0.03 |
| Q4 2025 | -$0.40 | -$0.07 |
| Q3 2025 | -$0.21 | +$0.81 |
| Q2 2025 | -$0.18 | +$0.84 |
| Q1 2025 | -$0.42 | +$0.76 |
| Q4 2024 | -$0.33 | +$0.89 |
COLD has returned to profit: it earned $0.83 per share over the past year, after losing money the year before.
COLD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $691.6M | +4.2% |
| Q2 2026 | $662.9M | +1.9% |
| Q1 2026 | $629.9M | +0.1% |
| Q4 2025 | $658.5M | -1.2% |
| Q3 2025 | $663.7M | -1.6% |
| Q2 2025 | $650.7M | -1.5% |
| Q1 2025 | $629M | -5.4% |
| Q4 2024 | $666.4M | -1.9% |
COLD's revenue grew through 2023 and has held roughly level since: $692M last quarter, up 4.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 107% | +105 points |
| Q2 2026 | -43% | -49 points |
| Q1 2026 | 2.3% | -1.3 points |
| Q4 2025 | -11% | -8.8 points |
| Q3 2025 | 2.5% | -2 points |
| Q2 2025 | 5.8% | -3.8 points |
| Q1 2025 | 3.5% | -2.8 points |
| Q4 2024 | -1.7% | +27 points |
COLD's operating margin was 107% last quarter, up 105 points from the same quarter a year ago, near the top of its range since 2019.
COLD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$11.8M | +$53.6M |
| Q2 2026 | -$40.3M | +$17.1M |
| Q1 2026 | -$70.1M | +$12.2M |
| Q4 2025 | -$12.2M | -121% |
| Q3 2025 | -$65.4M | -$20.8M |
| Q2 2025 | -$57.4M | -178% |
| Q1 2025 | -$82.3M | -607% |
| Q4 2024 | $57.4M | -41% |
COLD's free cash flow was −$134M over the past year, against −$148M the year before. Free cash flow isn't a meaningful measure for real estate companies like COLD.
COLD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +789K shares |
| 1 year | +0.6% | +1.8M shares |
| 3 years | +3.4% | +9.5M shares |
| 5 years | +9.6% | +25.1M shares |
| Available history | +56% | +104M shares |
COLD has 288M diluted shares, up 0.6% from a year ago.
COLD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.8x | Elevated |
| Q2 2026 | 74.5x | High |
| Q1 2026 | 11.2x | High |
| Q4 2025 | 10.6x | High |
| Q3 2025 | 9.2x | High |
| Q2 2025 | 8.6x | High |
| Q1 2025 | 7.7x | High |
| Q4 2024 | 6.7x | High |
COLD's net debt is about 3.8 years of its operating earnings (EBITDA), down from 9.2 years a year ago. Net leverage isn't a meaningful measure for real estate companies like COLD.
COLD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.5 | Neutral |
| Stochastic | 74.7 | Neutral |
COLD's weekly RSI is 60 (neutral) and its Stochastic is 75 (neutral).
COLD PE vs Real Estate Sector
| Metric | COLD | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 24x | 20% below |
| PE % | 0 | 23 | 23 pts below |
COLD is trading at 19x earnings, a 20% discount to the Real Estate sector's median of 24x.
COLD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $14.7 | 8.5% above |
| 20 week MA | $14.8 | 7.1% above |
| 50 week MA | $13.8 | 15% above |
| 100 week MA | $15.5 | 2.4% above |
| 200 week MA | $21.9 | 27% below |
COLD has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 27% below its 200-week average.
COLD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $34.7 | $36.4 | +4.8% |
| 2021 | $36.4 | $32.0 | -12% |
| 2022 | $32.0 | $28.5 | -11% |
| 2023 | $28.5 | $30.3 | +6.2% |
| 2024 | $30.3 | $21.4 | -29% |
| 2025 | $21.4 | $12.8 | -40% |
| 2026 YTD | $12.8 | $15.9 | +24% |
COLD has finished lower in four of the last six years. It's up 24% so far in 2026.