Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
NewLake Capital PartnersNLCP +0.13%83 PE Ratio without NRI is 12.65 as of Jul. 31, 2026, which is 10% below its 10-year median of 13.99. GuruFocus rates NLCP with a GF Score™ of 83/100 and a GF Value™ of $14.85 (Fairly Valued). The stock has 7 warning signs investors should review. Among 745 REITs companies, NewLake Capital Partners ranks better than 56.51% on this metric.
The PE Ratio without NRI, or P/E Ratio without non-recurring items, is a financial ratio used to compare a company's market price to its EPS without NRI. As of today (2026-07-31), NewLake Capital Partners's share price is $15.70.
NewLake Capital Partners's EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 was $1.24. Therefore, NewLake Capital Partners's PE Ratio without NRI for today is 12.65.
During the past 6 years, NewLake Capital Partners's highest PE Ratio without NRI was 166.67. The lowest was 9.80. And the median was 13.99.
NewLake Capital Partners (OTCPK:NLCP) PE Ratio without NRI Explanation
The PE Ratio can be viewed as the number of years it takes for the company to earn back the price you pay for the stock. For example, if a company earns $2 a share per year, and the stock is traded at $30, the PE Ratio is 15. Therefore it takes 15 years for the company to earn back the $30 you paid for its stock, assuming the earnings stays constant over the next 15 years.
In real business, earnings never stay constant. If a company can grow its earnings, it takes fewer years for the company to earn back the price you pay for the stock. If a company's earnings decline it takes more years. As a shareholder, you want the company to earn back the price you pay as soon as possible. Therefore, lower P/E stocks are more attractive than higher P/E stocks so long as the PE Ratio is positive. Also for stocks with the same PE Ratio, the one with faster growth business is more attractive.
If a company loses money, the PE Ratio becomes meaningless.
To compare stocks with different growth rates, Peter Lynch invented a ratio called PEG Ratio. PEG Ratio is defined as the PE Ratio divided by the growth ratio. He thinks a company with a PE Ratio equal to its growth rate is fairly valued. Still he said he would rather buy a company growing 20% a year with a PE Ratio of 20, instead of a company growing 10% a year with a PE Ratio of 10.
Because the PE Ratio measures how long it takes to earn back the price you pay, the PE Ratio can be applied to the stocks across different industries. That is why it is the one of the most important and widely used indicators for the valuation of stocks.
Investors need to be aware that the PE Ratio can be misleading a lot of times, especially when the underlying business is cyclical and unpredictable. As Peter Lynch pointed out, cyclical businesses have higher profit margins at the peaks of the business cycles. Their earnings are high and PE Ratio s are artificially low. It is usually a bad idea to buy a cyclical business when the PE Ratio is low. A better ratio to identify the time to buy a cyclical businesses is the PS Ratio.
NewLake Capital Partners PE Ratio without NRI Related Terms
NewLake Capital Partners PE Ratio without NRI Historical Data
* Premium members only.
The historical data trend for NewLake Capital Partners's PE Ratio without NRI can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NewLake Capital Partners PE Ratio without NRI Chart
NLCP vs LAND, FPI, SELF: PE Ratio without NRI Comparison
For the REIT - Specialty subindustry, NewLake Capital Partners's PE Ratio without NRI, along with its competitors' market caps and PE Ratio without NRI data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
NewLake Capital Partners PE Ratio without NRI vs REITs Industry
For the REITs industry and Real Estate sector, NewLake Capital Partners's PE Ratio without NRI distribution charts can be found below:
* The bar in red indicates where NewLake Capital Partners's PE Ratio without NRI falls into.
NewLake Capital Partners PE Ratio without NRI Calculation
The PE Ratio without NRI, or P/E Ratio without non-recurring items, is a financial ratio used to compare a company's market price to its EPS without NRI. Regular PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than regular PE Ratio.
NewLake Capital Partners's Share Price of today is $15.70.
NewLake Capital Partners's EPS without NRI for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $1.24.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
There are at least three kinds of PE Ratios used by different investors. They are Trailing Twelve Month PE Ratio, Forward PE Ratio, or PE Ratio without NRI. A new PE Ratio based on inflation-adjusted normalized PE Ratio is called Shiller PE Ratio, after Yale professor Robert Shiller.
In the case of PE Ratio without NRI, the reported earnings less the non-recurring items are used.
In the calculation of PE Ratio (TTM), the earnings per share used are the earnings per share over the past 12 months.
For Forward PE Ratio, the earnings are the expected earnings for the next twelve months.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. Since it looks at the average over the last 10 years, Shiller PE Ratio is also called PE10.
NewLake Capital Partners (NLCP) has a PE Ratio without NRI of 12.65 as of Jul. 31, 2026. P/E without nonrecurring items is the ratio of share price to a company's earnings less one-time charges. View historical data on NewLake Capital Partners and its competitors. This is 10% below median its historical median of 13.99. Over the past decade, NewLake Capital Partners' PE Ratio without NRI has ranged from 9.80 to 166.67. According to the industry distribution chart, NewLake Capital Partners ranks #324 out of 745 companies in the REITs industry, placing it in the top 43.5%.
Is NewLake Capital Partners' PE Ratio without NRI too high?
NewLake Capital Partners' current PE Ratio without NRI of 12.65 is 10% below median its 10-year median of 13.99. Over the past 10 years, this metric has ranged from a low of 9.80 to a high of 166.67. The REITs industry median PE Ratio without NRI is 14.16. NewLake Capital Partners' value of 12.65 is 10.7% below this industry median. Based on the distribution chart, NewLake Capital Partners ranks #324 out of 745 companies in the REITs industry, which is above the industry midpoint. Overall, NewLake Capital Partners has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NewLake Capital Partners' PE Ratio without NRI compare to LAND and FPI?
According to the REITs industry distribution chart, NewLake Capital Partners ranks #324 out of 745 companies for PE Ratio without NRI. This puts NewLake Capital Partners in the upper half of its industry. The industry median PE Ratio without NRI is 14.16. NewLake Capital Partners' value of 12.65 is 10.7% below this benchmark. Historically, NewLake Capital Partners' own PE Ratio without NRI has ranged from 9.80 to 166.67 over the past decade. While the company's 10-year median is 13.99 vs. the industry median of 14.16, NewLake Capital Partners has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PE Ratio without NRI for a REITs company?
The median PE Ratio without NRI among REITs companies is 14.16, based on 745 companies in the industry. Companies in the top quartile (top 25%) have a PE Ratio without NRI significantly above this median, while those in the bottom quartile fall well below. However, PE Ratio without NRI should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NewLake Capital Partners's current PE Ratio without NRI of 12.65 is 10.7% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PE Ratio without NRI mean?
A high PE Ratio without NRI can signal that a stock is expensive relative to its fundamentals. P/E without nonrecurring items is the ratio of share price to a company's earnings less one-time charges. View historical data on NewLake Capital Partners and its competitors. For the REITs industry, the median PE Ratio without NRI is 14.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NewLake Capital Partners's current PE Ratio without NRI is 12.65, which is 10% below median its own 10-year median of 13.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NewLake Capital Partners stock overvalued right now?
Based on GuruFocus' analysis, NewLake Capital Partners (NLCP) is currently considered Fairly Valued. The stock's GF Value™ is $14.85, compared to a current price of $15.70 — trading 5.7% above its estimated fair value. The current PE Ratio without NRI is 12.65, which is 10% below median its 10-year median of 13.99 and 10.7% below the REITs industry median of 14.16. NewLake Capital Partners' overall GF Score™ is 83/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PE Ratio without NRI calculated?
PE Ratio without NRI is calculated from a company's financial statements. For NewLake Capital Partners (NLCP), the current PE Ratio without NRI is 12.65 as of Jul. 31, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is NewLake Capital Partners (NLCP) Overvalued in 2026?
Based on GuruFocus' analysis, NewLake Capital Partners stock appears to be overvalued.
The current stock price of $15.70 is trading 5.7% above its estimated GF Value™ of $14.85.
GuruFocus considers NewLake Capital Partners to be Fairly Valued.
Key valuation signals for NLCP:
PE Ratio without NRI: 12.65 (10% below median its 10-year median of 13.99)
GF Value™: $14.85 vs. price of $15.70 (5.7% above fair value)
Industry Position: 10.7% below the REITs median (#324 of 745)
No single metric tells the full story. See the NLCP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NewLake Capital Partners Inc is an internally managed real estate investment trust (REIT) focused on providing real estate capital to state-licensed cannabis operators through sale-leaseback transactions, third-party purchases and funding for build-to-suit projects. properties are leased to single tenants on a long-term, triple-net basis, which obligates the tenant to be responsible for the ongoing expenses of a property, in addition to its rent obligations. Its tenants operate in the fast-growing cannabis industry.
83GF Score
Get the complete analysis for NLCP
PE Ratio without NRI is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NLCP has been successfully added to your 
