Latest Ratios: P/E Ratio 19.7x · EV/EBITDA 9.5x · ROE 17.4%. (2012–2025 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 | $7.3B | $7.0B | $7.5B | $7.5B | $5.7B | $7.7B | $6.7B | $7.2B | $5.7B | $8.0B | $6.6B |
| Enterprise Value | $10.0B | $9.7B | $10.5B | $10.4B | $8.8B | $10.7B | $9.4B | $10.1B | $8.9B | $11.1B | $9.4B |
| P/E Ratio → | 19.68 | 18.57 | 19.22 | 28.07 | 29.62 | 29.05 | 54.90 | 28.68 | 27.55 | 215.73 | 160.00 |
| P/S Ratio | 1.43 | 1.37 | 1.43 | 1.45 | 1.16 | 1.74 | 1.80 | 1.60 | 1.21 | 1.82 | 1.62 |
| P/B Ratio | 3.11 | 2.93 | 3.86 | 4.25 | 3.78 | 4.99 | 4.55 | 5.09 | 4.34 | 5.66 | 5.29 |
| P/FCF | 16.13 | 15.48 | 17.30 | 17.23 | 39.62 | 17.58 | 15.77 | 15.56 | 16.13 | 19.19 | 15.71 |
| P/OCF | 11.26 | 10.80 | 13.09 | 13.10 | 19.27 | 13.75 | 13.23 | 12.51 | 11.47 | 14.75 | 11.89 |
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 | — | 1.90 | 1.98 | 2.01 | 1.81 | 2.42 | 2.51 | 2.25 | 1.89 | 2.54 | 2.29 |
| EV / EBITDA | 9.48 | 9.20 | 10.62 | 12.09 | 12.14 | 13.73 | 14.97 | 11.98 | 10.92 | 15.62 | 12.89 |
| EV / EBIT | 13.14 | 12.75 | 14.94 | 18.39 | 22.21 | 22.53 | 34.44 | 20.46 | 20.74 | 33.01 | 35.94 |
| EV / FCF | — | 21.51 | 24.01 | 23.88 | 61.69 | 24.48 | 21.94 | 21.89 | 25.12 | 26.77 | 22.16 |
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 | 32.6% | 32.6% | 34.1% | 31.2% | 29.0% | 32.4% | 34.2% | 34.9% | 33.9% | 36.5% | 38.2% |
| Operating Margin | 14.9% | 14.9% | 13.4% | 11.3% | 8.7% | 10.5% | 8.2% | 10.9% | 9.4% | 8.3% | 9.9% |
| Net Profit Margin | 7.4% | 7.4% | 7.4% | 5.2% | 3.9% | 6.0% | 3.3% | 5.6% | 4.4% | 0.8% | 0.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.4% | 17.4% | 21.0% | 16.3% | 12.6% | 17.5% | 8.4% | 18.3% | 15.2% | 2.8% | 3.2% |
| ROA | 5.1% | 5.1% | 5.4% | 3.7% | 2.7% | 3.7% | 1.7% | 3.7% | 3.1% | 0.6% | 0.7% |
| ROIC | 11.4% | 11.4% | 11.1% | 9.4% | 6.9% | 8.0% | 5.4% | 8.3% | 7.3% | 6.4% | 7.5% |
| ROCE | 12.6% | 12.6% | 12.0% | 10.2% | 7.3% | 7.8% | 5.2% | 8.6% | 7.8% | 6.8% | 8.2% |
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 | 1.42 | 1.42 | 1.80 | 2.04 | 2.54 | 2.51 | 2.70 | 2.79 | 2.95 | 2.78 | 2.60 |
| Debt / EBITDA | 3.20 | 3.20 | 3.57 | 4.18 | 5.25 | 4.95 | 6.39 | 4.68 | 4.76 | 5.51 | 4.49 |
| Net Debt / Equity | — | 1.14 | 1.50 | 1.64 | 2.10 | 1.96 | 1.78 | 2.07 | 2.42 | 2.23 | 2.17 |
| Net Debt / EBITDA | 2.58 | 2.58 | 2.97 | 3.37 | 4.34 | 3.87 | 4.21 | 3.46 | 3.91 | 4.42 | 3.75 |
| Debt / FCF | — | 6.03 | 6.72 | 6.65 | 22.07 | 6.90 | 6.16 | 6.32 | 8.99 | 7.58 | 6.45 |
| Interest Coverage | 3.96 | 3.96 | 3.42 | 2.67 | 2.84 | 3.54 | 1.82 | 3.03 | 2.68 | 2.29 | 1.46 |
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 | 2.06 | 2.06 | 2.01 | 1.98 | 1.94 | 1.93 | 2.48 | 2.40 | 2.22 | 2.14 | 2.09 |
| Quick Ratio | 1.50 | 1.50 | 1.47 | 1.46 | 1.35 | 1.43 | 2.00 | 1.85 | 1.63 | 1.58 | 1.51 |
| Cash Ratio | 0.48 | 0.48 | 0.44 | 0.49 | 0.47 | 0.63 | 1.16 | 0.95 | 0.67 | 0.71 | 0.58 |
| Asset Turnover | — | 0.67 | 0.73 | 0.71 | 0.69 | 0.61 | 0.52 | 0.66 | 0.70 | 0.64 | 0.70 |
| Inventory Turnover | 4.56 | 4.56 | 4.74 | 4.81 | 4.18 | 4.46 | 4.39 | 4.93 | 5.07 | 4.57 | 4.77 |
| Days Sales Outstanding | — | 90.52 | 86.34 | 91.47 | 82.81 | 77.48 | 88.57 | 70.65 | 66.91 | 72.57 | 71.52 |
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 | — | — | — | — | — | — | 0.0% | — | 0.0% | 0.0% | 0.0% |
| Payout Ratio | — | — | — | — | — | — | 0.7% | — | 0.5% | 8.2% | 7.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.1% | 5.4% | 5.2% | 3.6% | 3.4% | 3.4% | 1.8% | 3.5% | 3.6% | 0.5% | 0.6% |
| FCF Yield | 6.2% | 6.5% | 5.8% | 5.8% | 2.5% | 5.7% | 6.3% | 6.4% | 6.2% | 5.2% | 6.4% |
| Buyback Yield | 2.3% | 2.4% | 1.3% | 0.7% | 3.5% | 3.2% | 0.4% | 1.5% | 4.5% | 0.7% | 0.0% |
| Total Shareholder Yield | 2.3% | 2.4% | 1.3% | 0.7% | 3.5% | 3.2% | 0.4% | 1.5% | 4.5% | 0.8% | 0.0% |
| Shares Outstanding | — | $217M | $220M | $222M | $222M | $232M | $236M | $236M | $243M | $246M | $244M |
High leverage and goodwill
Based on current market data, Axalta trades at a forward P/E of 13.32, which appears to discount the company's decelerating organic growth profile relative to the broader specialty chemicals sector and higher-multiple peers like Sherwin-Williams, suggesting investors remain skeptical of the firm's ability to expand margins.
The current PEG ratio of 0.73 indicates that the market is pricing in significant growth headwinds, likely stemming from the Transportation segment's cyclical sensitivity. While the valuation appears attractive on a forward basis, the persistent compression in gross margins suggests that the market's cautious stance is a rational response to the company's struggle to maintain pricing power.
According to recent financial statements, Axalta's ROIC has hovered between 2.0% and 3.4% over the last ten quarters, a level that remains significantly below the company's likely cost of capital and indicates a failure to generate meaningful economic value from its asset base.
The stagnation in ROIC is primarily driven by the company's high asset intensity and the recurring need for capital expenditures to maintain its refinish technology moat. Investors should monitor whether the recent integration of U-POL and other acquisitions can eventually drive a shift in these returns, though current trends suggest a persistent decay in capital efficiency.
As reported in quarterly filings, Axalta's cash conversion cycle has fluctuated between 83 and 114 days, reflecting persistent inefficiencies in inventory management and receivables collection that continue to drag on the company's ability to generate consistent free cash flow from its core operations.
The elevated DIO and DSO figures suggest that Axalta is struggling to optimize its working capital, likely due to the complexities of managing a global supply chain and the competitive necessity of offering extended payment terms to body shops. This inefficiency creates a structural cash drag that necessitates higher reliance on external financing than would be required by a more streamlined operator.
Based on the provided data, Axalta's debt-to-EBITDA ratio remains elevated at 14.18 as of 2026Q1, a figure that highlights the company's ongoing vulnerability to interest rate volatility and limits its capacity for aggressive capital allocation or strategic M&A in the near term.
While the company has made progress in reducing its debt-to-equity ratio, the absolute level of debt service remains a significant burden on the income statement. The interest coverage ratio, which has struggled to stay above 4.0x, indicates that any further deterioration in operating margins could quickly lead to a more precarious liquidity position.
The P/E ratio is frequently misapplied to Axalta, as it obscures the significant impact of non-operating items and stock-based compensation that frequently distort the company's reported earnings, making EV/EBITDA a more reliable metric for assessing the firm's true operational performance and leverage-adjusted valuation.
Because Axalta carries a heavy debt load and significant intangible assets, the P/E ratio fails to account for the capital structure's influence on equity returns. Analysts should prioritize EV/EBITDA to normalize for the company's leverage and focus on cash-based metrics to better understand the underlying durability of the refinish business model.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying AXTA stock.
Axalta Coating Systems Ltd.'s current P/E ratio is 19.7x. The historical average is 46.4x. This places it at the 20th percentile of its historical range.
Axalta Coating Systems Ltd.'s current EV/EBITDA is 9.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.5x.
Axalta Coating Systems Ltd.'s return on equity (ROE) is 17.4%. The historical average is 10.2%.
Based on historical data, Axalta Coating Systems Ltd. is trading at a P/E of 19.7x. This is at the 20th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Axalta Coating Systems Ltd. has 32.6% gross margin and 14.9% operating margin. Operating margin between 10-20% is typical for established companies.
Axalta Coating Systems Ltd.'s Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.