Latest Ratios: P/E Ratio 35.2x · EV/EBITDA 20.7x · ROE 12.9%. (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 | $5.3B | $5.0B | $5.3B | $4.8B | $4.0B | $5.5B | $3.7B | $3.3B | $2.5B | $2.6B | $2.7B |
| Enterprise Value | $5.5B | $5.1B | $5.5B | $5.1B | $4.3B | $5.5B | $3.8B | $3.5B | $2.6B | $2.8B | $2.9B |
| P/E Ratio → | 35.16 | 32.29 | 41.48 | 44.40 | 37.57 | 57.35 | 44.32 | 41.48 | 32.38 | 28.89 | 47.95 |
| P/S Ratio | 5.16 | 4.82 | 5.59 | 5.23 | 4.20 | 6.89 | 5.32 | 5.13 | 3.95 | 4.37 | 4.84 |
| P/B Ratio | 4.33 | 3.98 | 4.64 | 4.58 | 4.22 | 6.28 | 4.52 | 4.44 | 3.68 | 4.21 | 5.14 |
| P/FCF | 30.90 | 28.89 | 36.44 | 33.09 | 44.82 | 44.76 | 32.10 | 34.39 | 25.68 | 31.48 | 32.04 |
| P/OCF | 24.70 | 23.09 | 29.30 | 26.27 | 28.55 | 34.32 | 24.88 | 26.54 | 21.42 | 23.48 | 24.89 |
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 | — | 4.93 | 5.76 | 5.52 | 4.62 | 6.91 | 5.45 | 5.43 | 4.11 | 4.67 | 5.28 |
| EV / EBITDA | 20.74 | 19.42 | 23.79 | 23.78 | 22.08 | 31.31 | 23.59 | 23.54 | 17.42 | 19.65 | 21.31 |
| EV / EBIT | 25.04 | 24.46 | 30.01 | 31.85 | 30.20 | 43.26 | 34.57 | 34.11 | 24.79 | 28.91 | 32.39 |
| EV / FCF | — | 29.57 | 37.53 | 34.91 | 49.29 | 44.88 | 32.85 | 36.37 | 26.71 | 33.64 | 34.93 |
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 | 35.7% | 35.7% | 35.3% | 32.7% | 29.8% | 30.4% | 31.8% | 32.8% | 31.7% | 31.8% | 32.7% |
| Operating Margin | 21.1% | 21.1% | 19.2% | 17.3% | 15.4% | 16.0% | 15.8% | 15.9% | 16.6% | 16.3% | 16.4% |
| Net Profit Margin | 14.9% | 14.9% | 13.5% | 11.8% | 11.2% | 12.0% | 12.0% | 12.4% | 12.2% | 15.1% | 10.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.9% | 12.9% | 11.7% | 10.9% | 11.6% | 11.3% | 10.8% | 11.1% | 12.0% | 15.8% | 11.4% |
| ROA | 9.4% | 9.4% | 8.1% | 6.7% | 7.5% | 8.1% | 7.3% | 7.5% | 8.1% | 9.4% | 6.1% |
| ROIC | 12.2% | 12.2% | 10.4% | 9.0% | 9.8% | 10.6% | 9.0% | 8.9% | 10.1% | 9.3% | 9.5% |
| ROCE | 14.8% | 14.8% | 12.8% | 10.9% | 11.4% | 12.0% | 10.4% | 10.5% | 12.2% | 11.4% | 11.0% |
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 | 0.15 | 0.15 | 0.18 | 0.31 | 0.49 | 0.13 | 0.21 | 0.34 | 0.23 | 0.35 | 0.54 |
| Debt / EBITDA | 0.73 | 0.73 | 0.90 | 1.54 | 2.34 | 0.67 | 1.06 | 1.72 | 1.03 | 1.55 | 2.05 |
| Net Debt / Equity | — | 0.09 | 0.14 | 0.25 | 0.42 | 0.02 | 0.11 | 0.26 | 0.15 | 0.29 | 0.46 |
| Net Debt / EBITDA | 0.45 | 0.45 | 0.69 | 1.24 | 2.00 | 0.08 | 0.54 | 1.28 | 0.67 | 1.26 | 1.76 |
| Debt / FCF | — | 0.68 | 1.08 | 1.82 | 4.47 | 0.12 | 0.75 | 1.98 | 1.03 | 2.16 | 2.89 |
| Interest Coverage | 20.48 | 20.48 | 11.07 | 7.07 | 14.03 | 51.99 | 24.97 | 17.19 | 14.01 | 12.73 | 12.41 |
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 | 2.07 | 2.07 | 1.99 | 2.12 | 2.40 | 2.24 | 2.83 | 2.76 | 2.76 | 1.84 | 1.87 |
| Quick Ratio | 1.33 | 1.33 | 1.16 | 1.38 | 1.54 | 1.61 | 2.08 | 1.85 | 1.94 | 1.28 | 1.30 |
| Cash Ratio | 0.42 | 0.42 | 0.31 | 0.43 | 0.48 | 0.72 | 0.90 | 0.71 | 0.66 | 0.37 | 0.38 |
| Asset Turnover | — | 0.61 | 0.61 | 0.58 | 0.58 | 0.67 | 0.60 | 0.56 | 0.66 | 0.62 | 0.58 |
| Inventory Turnover | 5.07 | 5.07 | 4.72 | 5.66 | 5.53 | 6.10 | 6.79 | 5.15 | 6.54 | 6.69 | 6.50 |
| Days Sales Outstanding | — | 50.53 | 45.80 | 49.57 | 50.96 | 53.63 | 50.95 | 52.99 | 56.45 | 55.98 | 54.93 |
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 | 0.5% | 0.6% | 0.5% | 0.5% | 0.5% | 0.3% | 0.4% | 0.5% | 0.5% | 0.5% | 0.4% |
| Payout Ratio | 18.3% | 18.3% | 19.9% | 21.1% | 19.7% | 19.5% | 19.7% | 19.0% | 17.1% | 13.4% | 19.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.8% | 3.1% | 2.4% | 2.3% | 2.7% | 1.7% | 2.3% | 2.4% | 3.1% | 3.5% | 2.1% |
| FCF Yield | 3.2% | 3.5% | 2.7% | 3.0% | 2.2% | 2.2% | 3.1% | 2.9% | 3.9% | 3.2% | 3.1% |
| Buyback Yield | 2.0% | 2.2% | 0.1% | 0.1% | 0.9% | 0.6% | 0.4% | 0.6% | 0.1% | 0.1% | 0.1% |
| Total Shareholder Yield | 2.5% | 2.7% | 0.6% | 0.6% | 1.4% | 1.0% | 0.8% | 1.1% | 0.6% | 0.5% | 0.5% |
| Shares Outstanding | — | $33M | $33M | $32M | $32M | $33M | $33M | $33M | $32M | $32M | $32M |
Ethylene Oxide Regulatory Exposure
According to current market data, Balchem trades at a 36.05x P/E ratio, which represents a significant premium compared to diversified chemical peers like Avient, suggesting that investors are pricing in the company's superior margin stability and its unique positioning within the non-discretionary life sciences delivery market.
The elevated P/E and EV/EBITDA multiples appear to be a function of the company's defensive end-market exposure rather than pure growth expectations. While the PEG ratio of 2.81 indicates a high price relative to growth, this valuation is likely supported by the scarcity of high-quality, low-leverage specialty chemical assets in the current environment.
As reported in recent financial statements, Balchem has maintained a gross margin of 37.3% in 2026Q1, which underscores the company's ability to command premium pricing for its proprietary microencapsulation technologies compared to the commodity-heavy margins typically observed in the broader basic materials sector.
The consistency in operating margins, hovering around 21%, suggests that the company has successfully insulated its core profitability from inflationary pressures. This earning power is likely driven by the high switching costs inherent in its medical sterilization and human nutrition segments, which provide a structural buffer against competitive price erosion.
Based on the provided quarterly data, Balchem's cash conversion cycle has remained relatively consistent, averaging approximately 88 days over the last several quarters, which indicates a stable approach to managing inventory and receivables despite the inherent complexities of its global specialty chemical supply chain.
The DSO of 50 days in 2026Q1 suggests that the company maintains strong leverage over its customer base, likely due to the critical nature of its nutritional and sterilization products. Investors should monitor the DIO, which has fluctuated between 63 and 82 days, as this metric is highly sensitive to the timing of raw material procurement and finished goods demand.
As indicated by the most recent balance sheet, Balchem has achieved a negligible debt-to-equity ratio of 0.03, a stark contrast to the higher leverage profiles of peers like Hawkins or Ingredion, which provides the company with significant financial flexibility to navigate potential regulatory or macroeconomic headwinds.
The interest coverage ratio of 17.92x confirms that debt service is not a material concern, effectively removing refinancing risk from the investment thesis. This conservative capital structure appears to be a deliberate management choice that prioritizes operational autonomy over the potential returns of financial leverage.
Investors frequently misapply traditional chemical industry valuation metrics to Balchem, failing to account for the fact that its microencapsulation and sterilization business models function more like high-margin pharmaceutical delivery platforms than the cyclical, commodity-linked manufacturing operations typical of the broader basic materials sector.
Using standard EV/Sales or P/E benchmarks for commodity chemical producers obscures the value of Balchem's intellectual property and regulatory moats. A more appropriate framework would involve comparing the company to life sciences or specialty ingredient firms, where higher valuation multiples are justified by the recurring, non-discretionary nature of the revenue streams.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying BCPC stock.
Balchem Corporation's current P/E ratio is 35.2x. The historical average is 29.5x. This places it at the 70th percentile of its historical range.
Balchem Corporation's current EV/EBITDA is 20.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.6x.
Balchem Corporation's return on equity (ROE) is 12.9%. The historical average is 16.7%.
Based on historical data, Balchem Corporation is trading at a P/E of 35.2x. This is at the 70th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Balchem Corporation's current dividend yield is 0.52% with a payout ratio of 18.3%.
Balchem Corporation has 35.7% gross margin and 21.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Balchem Corporation's Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.