Latest Ratios: P/E Ratio 25.2x · EV/EBITDA 12.0x · ROE 8.9%. (2022–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Market Cap | $29.9B | $29.9B | — | — | — |
| Enterprise Value | $33.8B | $33.9B | — | — | — |
| P/E Ratio → | 25.24 | 25.27 | — | — | — |
| P/S Ratio | 2.53 | 2.53 | — | — | — |
| P/B Ratio | 2.26 | 2.26 | — | — | — |
| P/FCF | 21.02 | 21.08 | — | — | — |
| P/OCF | 13.52 | 13.56 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| EV / Revenue | — | 2.87 | — | — | — |
| EV / EBITDA | 12.00 | 12.03 | — | — | — |
| EV / EBIT | 17.75 | 17.80 | — | — | — |
| EV / FCF | — | 23.89 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Gross Margin | 25.7% | 25.7% | 26.2% | 23.7% | 23.0% |
| Operating Margin | 16.1% | 16.1% | 18.6% | 16.2% | 15.8% |
| Net Profit Margin | 10.0% | 10.0% | 12.1% | 8.2% | 10.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 8.9% | 8.9% | 12.6% | 11.0% | 13.5% |
| ROA | 5.0% | 5.0% | 6.1% | 4.4% | 5.4% |
| ROIC | 8.3% | 8.3% | 9.4% | 8.3% | 7.7% |
| ROCE | 9.0% | 9.0% | 10.4% | 9.7% | 9.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.45 | 0.45 | 0.43 | 1.03 | 1.05 |
| Debt / EBITDA | 2.09 | 2.09 | 1.89 | 3.48 | 3.48 |
| Net Debt / Equity | — | 0.30 | 0.30 | 0.91 | 1.01 |
| Net Debt / EBITDA | 1.41 | 1.41 | 1.29 | 3.07 | 3.34 |
| Debt / FCF | — | 2.80 | 2.42 | 5.99 | 5.54 |
| Interest Coverage | — | — | 7.03 | 3.37 | 6.89 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 1.64 | 1.64 | 1.85 | 1.61 | 1.40 |
| Quick Ratio | 1.10 | 1.10 | 1.25 | 1.08 | 0.86 |
| Cash Ratio | 0.67 | 0.67 | 0.75 | 0.45 | 0.16 |
| Asset Turnover | — | 0.49 | 0.50 | 0.51 | 0.52 |
| Inventory Turnover | 5.66 | 5.66 | 5.95 | 6.82 | 6.72 |
| Days Sales Outstanding | — | 34.60 | 33.34 | 43.70 | 47.98 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 4.0% | 4.0% | — | — | — |
| FCF Yield | 4.8% | 4.7% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $554M | $553M | $553M | $553M |
Cyclical Margin Volatility
Based on current market data, AMRZ trades at a forward P/E of 19.90, which appears to discount the volatility inherent in its construction-heavy revenue base compared to the higher multiples commanded by pure-play aggregates peers like Vulcan Materials and Martin Marietta.
The current valuation suggests that investors are applying a discount to AMRZ's standalone earnings power, likely due to the lack of a long-term track record as an independent entity. While the forward P/E of 19.90 is lower than its primary peers, this may be justified by the company's recent negative net margins and the structural risks associated with its high-fixed-cost manufacturing model.
According to recent financial statements, AMRZ's ROIC has fluctuated significantly, dropping to -0.3% in 2026Q1 from a peak of 4.7% in 2024Q3, illustrating the difficulty of maintaining efficient capital returns during periods of low capacity utilization in the cement and concrete segments.
The sharp decline in ROIC highlights the company's sensitivity to volume-driven profitability, where fixed costs for kilns and quarries cannot be easily scaled down during off-peak quarters. Investors should monitor whether management can improve these returns as they optimize the standalone cost structure and focus on higher-margin building products.
As reported in quarterly filings, AMRZ's cash conversion cycle reached 64 days in 2026Q1, a notable increase from 56 days in 2025Q4, reflecting the operational challenges of managing inventory and receivables across a geographically dispersed North American footprint during seasonal downturns.
The expansion of the cash conversion cycle suggests that the company is experiencing slower inventory turnover, which may be a byproduct of the current residential construction slowdown. The reliance on large outdoor stockpiles of aggregates makes efficient working capital management difficult, as volumetric adjustments often lead to lumpy cash flow performance.
Based on the latest balance sheet data, AMRZ maintains a debt-to-equity ratio of 0.51, which, as noted in recent filings, provides a significant financial cushion that distinguishes the company from more highly levered peers in the basic materials sector.
This conservative leverage profile is a critical defensive feature, allowing the company to navigate cyclical troughs without the immediate pressure of debt service obligations. While the interest coverage ratio turned negative in 2026Q1, the underlying debt-to-equity position remains healthy, suggesting that the company is well-positioned to weather temporary earnings volatility.
The P/E ratio is frequently misapplied to AMRZ, as it fails to account for the massive non-cash depreciation and amortization charges inherent in heavy industrial assets, which often obscure the company's true cash-generating capacity during cyclical downturns.
Investors should prioritize EV/EBITDA or P/FCF over P/E, as these metrics better reflect the company's ability to generate cash after accounting for the heavy capital expenditure required to maintain its cement and aggregate infrastructure. Relying on P/E in a period of negative net income provides a distorted view of the company's fundamental value.
Includes 30+ ratios · 4 years · Updated daily
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Quick answers to the most common questions about buying AMRZ stock.
Amrize Ltd's current P/E ratio is 25.2x. The historical average is 25.3x.
Amrize Ltd's current EV/EBITDA is 12.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.0x.
Amrize Ltd's return on equity (ROE) is 8.9%. The historical average is 11.5%.
Based on historical data, Amrize Ltd is trading at a P/E of 25.2x. Compare with industry peers and growth rates for a complete picture.
Amrize Ltd has 25.7% gross margin and 16.1% operating margin. Operating margin between 10-20% is typical for established companies.
Amrize Ltd's Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.