Americold Realty (COLD) AI Stock Analysis

• Market Cap: $3.77B
• Dividend Yield: 7.21%
• Average Volume (3M): 6.08M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.42
• Revenue Growth: -2.60%
• EPS Growth: 78.16%
• Country: US
• Employees: 13,755
• Sector: Real Estate
• Sector Strength: 53
• Industry: REIT - Industrial
• EPS (TTM): -0.04
• Shares Outstanding: 284,854,500
• 10 Day Avg. Volume: 5,627,704
• 30 Day Avg. Volume: 6,079,216
• PEG Ratio: 0.89
• Price to Book (P/B): 1.86
• Price to Sales (P/S): 2.29
• P/FCF Ratio: 59.50
• Enterprise Value/Market Cap: 2.05
• Enterprise Value/Revenue: 2.97
• Enterprise Value/Gross Profit: 9.30
• Enterprise Value/Ebitda: 18.05
• 1Y Price Target: $13.27
• Price Target Upside: -0.15% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 11
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: $13.50 ▲(1.58% Upside)

COLD scores as mid-range primarily due to pressured fundamentals (sharp TTM revenue decline, ongoing net losses, higher leverage, and negative free cash flow). This is partly offset by improving technical momentum, a high dividend yield, and a mixed but stable AFFO/guidance backdrop with proactive refinancing and governance steps.

Positive Factors

Strategic Partnerships

The partnership with On the Run expands Americold's reach into the convenience store market, enhancing its market position and supporting long-term growth in the Asia-Pacific region.

Cash Flow Improvement

Significant improvement in free cash flow indicates enhanced cash generation ability, providing financial flexibility for future investments and debt management.

Governance Enhancements

The establishment of a Finance Committee signals a commitment to improved governance and strategic oversight, potentially leading to better capital allocation and shareholder value.

Negative Factors

Revenue Decline

A significant decline in revenue highlights challenges in maintaining market share and operational efficiency, potentially impacting long-term profitability.

Pricing and Occupancy Pressure

Anticipated pricing and occupancy pressures could reduce revenue and margins, challenging Americold's ability to sustain profitability in a competitive market.

Profitability Challenges

Ongoing profitability issues, indicated by negative net profit margins, suggest operational inefficiencies that need addressing to improve financial health.

Americold Realty Business Overview & Revenue Model

Company Description

Americold is the world's largest publicly traded REIT focused on the ownership, operation, acquisition and development of temperature-controlled warehouses. Based in Atlanta, Georgia, Americold owns and operates 185 temperature-controlled warehouses, with over 1 billion refrigerated cubic feet of storage, in the United States, Australia, New Zealand, Canada, and Argentina. Americold's facilities are an integral component of the supply chain connecting food producers, processors, distributors and retailers to consumers.

How the Company Makes Money

Americold generates revenue primarily through leasing its temperature-controlled warehouse space to food producers, distributors, and retailers. The company's revenue model is built around long-term contracts with customers, which provides a stable income stream. Key revenue streams include rental income from warehouse space, fees for additional services such as transportation and inventory management, and value-added services tailored to meet specific customer needs. Partnerships with major food and beverage companies enhance its market position and contribute to steady demand for its services. Additionally, Americold may benefit from economies of scale and operational efficiencies as it expands its facility portfolio and optimizes its logistics operations.

Americold Realty Financial Statement Overview

Summary

Financial profile is pressured: TTM revenue fell sharply (~-40%), profitability remains inconsistent with ongoing net losses (TTM net margin ~-2.4%), and leverage increased (debt-to-equity ~1.41). Positives include steady operating cash flow (~$392M TTM) and resilient gross margin (~32%), but free cash flow swung negative (~-$148M TTM), limiting flexibility.

Income Statement

TTM (Trailing-Twelve-Months) revenue declined sharply (about -40%), signaling meaningful top-line pressure. Profitability is mixed: gross margin remains steady around ~32% (similar to 2024), and EBITDA margin improved versus 2024, but the company is still loss-making with a negative net margin (~-2.4%) and modest EBIT margin (~2.8%). Multi-year trend shows volatile results with recurring net losses since 2021, despite a major recovery from the 2023 trough.

Balance Sheet

Leverage has increased: debt-to-equity rose to ~1.41 in TTM (Trailing-Twelve-Months) from ~1.12 in 2024, alongside lower equity, reducing balance-sheet flexibility. Returns on equity remain negative (TTM ROE ~-2.0%), reflecting ongoing losses. Asset base is sizable, but the higher debt load and persistent negative profitability elevate financial risk.

Cash Flow

Operating cash flow is solid in absolute terms (TTM about $392M) and has been relatively steady across years, supporting baseline liquidity. However, free cash flow turned negative in TTM (Trailing-Twelve-Months) (about -$148M) after being positive in 2024, indicating heavier capital spending and/or weaker cash conversion. Cash generation is a partial offset to accounting losses, but negative free cash flow reduces room for debt reduction and shareholder returns.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.61B	2.67B	2.67B	2.91B	2.71B	1.99B
Gross Profit	833.72M	846.73M	770.57M	695.96M	629.78M	551.50M
EBITDA	429.55M	392.96M	165.76M	417.64M	388.42M	325.15M
Net Income	-62.42M	-94.31M	-336.21M	-19.44M	-30.45M	24.54M
Balance Sheet
Total Assets	8.08B	7.74B	7.87B	8.10B	8.22B	7.83B
Cash, Cash Equivalents and Short-Term Investments	33.34M	47.65M	60.39M	53.06M	82.96M	621.05M
Total Debt	4.29B	3.68B	3.49B	3.58B	3.42B	3.23B
Total Liabilities	5.01B	4.43B	4.23B	4.32B	4.19B	4.04B
Stockholders Equity	3.03B	3.28B	3.62B	3.77B	4.02B	3.79B
Cash Flow
Free Cash Flow	-147.65M	102.42M	35.92M	-22.95M	-218.77M	-108.67M
Operating Cash Flow	392.04M	411.88M	366.15M	300.00M	273.06M	293.68M
Investing Cash Flow	-617.93M	-313.18M	-357.07M	-348.49M	-1.24B	-2.25B
Financing Cash Flow	198.39M	-106.78M	-285.00K	23.32M	431.49M	2.33B

Americold Realty Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 13.29
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For COLD, the sentiment is Positive. The current price of 13.29 is above the 20-day moving average (MA) of 12.83, above the 50-day MA of 11.92, and below the 200-day MA of 14.78, indicating a neutral trend. The MACD of 0.37 indicates Negative momentum. The RSI at 61.98 is Neutral, neither overbought nor oversold. The STOCH value of 73.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for COLD.

Americold Realty Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PLD	76 Outperform	$123.05B	37.67	6.07%	3.16%	10.75%	4.29%
PSA	73 Outperform	$48.99B	29.08	20.00%	4.63%	2.30%	-0.22%
CUBE	69 Neutral	$8.68B	24.21	12.82%	5.69%	4.19%	-12.19%
EXR	68 Neutral	$31.10B	31.42	6.86%	5.01%	3.38%	17.16%
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
COLD	54 Neutral	$3.77B	-60.71	-1.95%	7.21%	-2.60%	78.16%
LINE	54 Neutral	$8.33B	―	-2.06%	6.18%	0.44%	75.40%

Americold Realty Corporate Events

Americold Realty Adds New Term Loan to Refinance Debt

On December 19, 2025, Americold Realty Trust, Inc. and its operating partnership amended their existing credit agreement to add a new $250 million unsecured delayed draw term loan facility. The company plans to use most of this 2025 Delayed Draw Facility to repay approximately $200 million of 4.68% senior unsecured notes maturing on January 8, 2026, with the remainder available for general corporate purposes, a move that refines its debt profile and provides additional financial flexibility for ongoing operations.

The most recent analyst rating on (COLD) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Americold Realty stock, see the COLD Stock Forecast page.

Americold Realty, Ancora pact to enhance governance

On December 22, 2025, Americold Realty Trust entered into a cooperation agreement with shareholder Ancora and appointed Joseph Reece and Stephen Sleigh as independent directors to its board, expanding the board from nine to 11 members and committing to nominate them at the 2026 annual meeting. As part of the agreement, Americold created a five-member Finance Committee, chaired by director David Neithercut with Reece as vice chair, to review the company’s portfolio, evaluate potential asset sales including possible international divestitures, and make recommendations on capital allocation, debt reduction, dividend maintenance and preservation of core assets, while Ancora agreed to standstill and voting commitments through the defined standstill period, signaling a collaborative approach to governance and an intensified focus on profitability, portfolio optimization and shareholder value.

The most recent analyst rating on (COLD) stock is a Buy with a $14.00 price target. To see the full list of analyst forecasts on Americold Realty stock, see the COLD Stock Forecast page.

Americold Realty Reaffirms 2025 Financial Outlook

On December 9, 2025, Americold Realty Trust, Inc. reaffirmed its 2025 full-year financial outlook during an investor presentation, aligning with its third-quarter earnings release. The company emphasized its strategic focus on growth through infrastructure, expertise, and partnerships, while addressing various risks and uncertainties that could impact its operations and market positioning.

The most recent analyst rating on (COLD) stock is a Hold with a $11.00 price target. To see the full list of analyst forecasts on Americold Realty stock, see the COLD Stock Forecast page.

Americold Realty Reports Q3 2025 Financial Results

Americold Realty Trust announced its third-quarter 2025 financial results, reporting a total revenue of $663.7 million, a 1.6% decrease from the previous year, primarily due to lower volumes in the warehouse segment. Despite industry challenges, the company maintained its Adjusted FFO per share at $0.35, consistent with the previous year, and reiterated its full-year outlook for 2025. The company experienced a net loss of $11.4 million, attributed to decreased NOI in the warehouse segment and increased expenses, including those related to Project Orion.

The most recent analyst rating on (COLD) stock is a Hold with a $13.50 price target. To see the full list of analyst forecasts on Americold Realty stock, see the COLD Stock Forecast page.