Latest Ratios: P/E Ratio 35.0x · EV/EBITDA 15.7x · ROE 5.9%. (1996–2025 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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.4B | $1.0B | $768M | $847M | $927M | $1.6B | $1.3B | $952M | $691M | $1.4B | $1.6B |
| Enterprise Value | $1.6B | $1.3B | $798M | $867M | $952M | $1.5B | $1.2B | $905M | $725M | $1.3B | $1.5B |
| P/E Ratio → | 34.96 | 25.79 | 176.84 | 25.31 | — | 100.39 | 28.23 | 42.86 | — | 35.89 | 28.34 |
| P/S Ratio | 0.96 | 0.71 | 0.59 | 0.63 | 0.73 | 1.45 | 1.29 | 0.81 | 0.59 | 1.14 | 1.36 |
| P/B Ratio | 2.00 | 1.47 | 1.20 | 1.30 | 1.48 | 2.44 | 2.06 | 1.58 | 1.18 | 1.97 | 2.40 |
| P/FCF | 62.81 | 46.75 | 307.14 | — | — | — | 10.50 | 10.69 | — | 62.11 | 14.53 |
| P/OCF | 21.99 | 16.37 | 33.39 | 30.48 | — | 214.82 | 9.36 | 8.47 | — | 32.38 | 11.58 |
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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.89 | 0.61 | 0.65 | 0.75 | 1.33 | 1.14 | 0.77 | 0.62 | 1.10 | 1.30 |
| EV / EBITDA | 15.70 | 12.30 | 15.96 | 11.69 | 26.88 | 29.11 | 17.32 | 16.52 | — | 16.04 | 13.36 |
| EV / EBIT | 24.40 | 17.49 | 32.43 | 9.70 | 22.66 | 46.90 | 23.78 | 34.10 | — | 22.36 | 16.84 |
| EV / FCF | — | 58.26 | 319.14 | — | — | — | 9.26 | 10.16 | — | 59.45 | 13.87 |
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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.5% | 26.5% | 25.1% | 24.7% | 20.7% | 22.8% | 23.2% | 20.5% | 11.4% | 20.5% | 23.1% |
| Operating Margin | 4.6% | 4.6% | 1.8% | 3.6% | 0.6% | 1.8% | 4.0% | 2.5% | -6.4% | 4.7% | 7.6% |
| Net Profit Margin | 2.8% | 2.8% | 0.3% | 2.5% | -0.0% | 1.4% | 4.5% | 1.9% | -5.2% | 3.2% | 4.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.9% | 5.9% | 0.7% | 5.2% | -0.0% | 2.4% | 7.4% | 3.8% | -9.5% | 5.7% | 8.7% |
| ROA | 3.2% | 3.2% | 0.4% | 3.2% | -0.0% | 1.8% | 5.6% | 2.7% | -6.9% | 4.4% | 6.8% |
| ROIC | 6.2% | 6.2% | 2.6% | 5.5% | 1.0% | 3.0% | 5.8% | 3.7% | -9.0% | 6.9% | 11.1% |
| ROCE | 7.2% | 7.2% | 3.0% | 6.5% | 1.1% | 2.9% | 6.2% | 4.5% | -10.9% | 8.0% | 13.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.47 | 0.47 | 0.19 | 0.13 | 0.14 | 0.00 | 0.00 | 0.00 | 0.10 | 0.01 | 0.02 |
| Debt / EBITDA | 3.14 | 3.14 | 2.37 | 1.12 | 2.48 | 0.06 | 0.03 | 0.04 | — | 0.05 | 0.10 |
| Net Debt / Equity | — | 0.36 | 0.05 | 0.03 | 0.04 | -0.20 | -0.24 | -0.08 | 0.06 | -0.08 | -0.11 |
| Net Debt / EBITDA | 2.43 | 2.43 | 0.60 | 0.27 | 0.70 | -2.62 | -2.32 | -0.86 | — | -0.72 | -0.64 |
| Debt / FCF | — | 11.52 | 12.00 | — | — | — | -1.24 | -0.53 | — | -2.67 | -0.66 |
| Interest Coverage | 3.87 | 3.87 | 2.30 | 10.04 | 16.80 | 28.27 | 70.14 | 18.97 | -81.28 | 69.12 | 63.43 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.49 | 2.49 | 2.66 | 2.41 | 2.54 | 2.85 | 3.32 | 2.93 | 2.96 | 3.37 | 3.42 |
| Quick Ratio | 1.07 | 1.07 | 1.10 | 0.88 | 1.11 | 1.51 | 1.86 | 1.23 | 1.08 | 1.18 | 1.28 |
| Cash Ratio | 0.22 | 0.22 | 0.34 | 0.23 | 0.24 | 0.64 | 0.96 | 0.29 | 0.15 | 0.36 | 0.49 |
| Asset Turnover | — | 1.03 | 1.25 | 1.26 | 1.26 | 1.21 | 1.21 | 1.46 | 1.37 | 1.33 | 1.36 |
| Inventory Turnover | 2.22 | 2.22 | 2.31 | 2.21 | 2.57 | 2.83 | 3.15 | 3.16 | 2.91 | 2.41 | 2.45 |
| Days Sales Outstanding | — | 56.60 | 49.36 | 45.63 | 54.27 | 48.38 | 42.97 | 38.98 | 41.74 | 36.96 | 35.21 |
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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.9% | 1.2% | 1.5% | 1.4% | 1.2% | 0.6% | 0.8% | 1.0% | 1.4% | 0.7% | 0.6% |
| Payout Ratio | 30.7% | 30.7% | 276.7% | 35.2% | — | 64.6% | 21.7% | 44.5% | — | 24.4% | 16.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.9% | 3.9% | 0.6% | 4.0% | — | 1.0% | 3.5% | 2.3% | — | 2.8% | 3.5% |
| FCF Yield | 1.6% | 2.1% | 0.3% | — | — | — | 9.5% | 9.4% | — | 1.6% | 6.9% |
| Buyback Yield | 0.0% | 0.0% | 0.1% | 0.2% | 1.1% | 0.0% | 0.0% | 0.0% | 3.5% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.9% | 1.2% | 1.6% | 1.6% | 2.3% | 0.6% | 0.8% | 1.1% | 4.9% | 0.7% | 0.6% |
| Shares Outstanding | — | $23M | $23M | $23M | $23M | $23M | $23M | $23M | $23M | $23M | $23M |
High Operating Leverage Sensitivity
According to current market data, ASTE trades at a forward P/E of 16.96, which appears to discount the company's historical earnings volatility and suggests that investors remain cautious regarding the sustainability of margin expansion initiatives compared to more diversified industrial peers like Cummins or Terex.
The disparity between the TTM P/E of 36.35 and the forward multiple indicates that the market is pricing in a significant recovery in earnings power that has yet to materialize in the reported financials. This valuation gap warrants investigation, as it implies a reliance on future operational improvements that may be vulnerable to the cyclical nature of infrastructure spending.
Based on reported figures, ASTE's ROIC has struggled to gain traction, hovering at a marginal 0.7% as of 2026Q1, which suggests that the company is currently failing to generate returns that exceed its cost of capital, a trend that contrasts sharply with higher-performing industrial machinery peers.
The persistent weakness in ROIC reflects the difficulty in optimizing a decentralized manufacturing footprint despite recent efforts to centralize operations. Investors should monitor whether the OneASTEC model can eventually drive the asset efficiency required to push returns into the double-digit range, as current levels indicate significant capital under-utilization.
As reported in recent financial statements, the company's cash conversion cycle remains elevated at 160 days in 2026Q1, driven largely by persistent inventory bloat that significantly lags behind industry benchmarks for efficient heavy equipment manufacturers and ties up critical liquidity in non-productive assets.
The high DIO of 142 days suggests that the company may be carrying excessive inventory levels, potentially due to supply chain imbalances or a mismatch between production schedules and actual customer demand. This inefficiency directly impacts free cash flow generation and limits the company's ability to reinvest in higher-margin service capabilities.
Based on the latest quarterly filings, ASTE maintains a modest debt-to-equity ratio of 0.54, which provides a healthy balance sheet buffer, yet the interest coverage ratio of 1.22 in 2026Q1 highlights a growing vulnerability to earnings volatility that could threaten debt service comfort.
While the low debt load is a positive, the thin interest coverage ratio suggests that even minor fluctuations in operating income can disproportionately impact the company's financial flexibility. This indicates that the balance sheet is currently more of a defensive necessity than a tool for aggressive growth or strategic capital deployment.
Investors frequently rely on the P/S ratio to value ASTE, yet this metric obscures the company's structural inability to convert top-line revenue into consistent operating margins, making it a misleading indicator of true shareholder value in a business model defined by high fixed-cost sensitivity.
Because ASTE's profitability is highly dependent on factory absorption and project-based accounting, the P/S ratio fails to account for the significant margin compression that occurs during cyclical downturns. A more appropriate focus would be on EV/EBITDA or FCF yield, which better capture the underlying cash-generating potential of the installed base.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying ASTE stock.
Astec Industries, Inc.'s current P/E ratio is 35.0x. The historical average is 42.5x. This places it at the 77th percentile of its historical range.
Astec Industries, Inc.'s current EV/EBITDA is 15.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.7x.
Astec Industries, Inc.'s return on equity (ROE) is 5.9%. The historical average is 6.6%.
Based on historical data, Astec Industries, Inc. is trading at a P/E of 35.0x. This is at the 77th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Astec Industries, Inc.'s current dividend yield is 0.87% with a payout ratio of 30.7%.
Astec Industries, Inc. has 26.5% gross margin and 4.6% operating margin.
Astec Industries, Inc.'s Debt/EBITDA ratio is 3.1x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.