Latest Ratios: P/E Ratio 20.5x · EV/EBITDA 13.0x · ROE 61.6%. (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 | $2.5B | $1.9B | $1.6B | $689M | $259M | $566M | $329M | $515M | $701M | $512M | $311M |
| Enterprise Value | $2.4B | $1.8B | $1.6B | $742M | $423M | $775M | $467M | $633M | $783M | $601M | $411M |
| P/E Ratio → | 20.52 | 14.94 | 15.18 | 28.85 | — | — | 36.85 | 21.15 | 22.69 | 27.84 | 104.36 |
| P/S Ratio | 1.70 | 1.29 | 1.19 | 0.61 | 0.32 | 0.83 | 0.37 | 0.51 | 0.68 | 0.52 | 0.33 |
| P/B Ratio | 10.25 | 7.46 | 10.02 | 17.22 | 187.43 | — | — | — | — | — | — |
| P/FCF | 16.43 | 12.43 | 16.69 | 6.18 | — | — | — | 25.49 | 43.19 | 13.35 | 20.06 |
| P/OCF | 14.30 | 10.81 | 14.39 | 5.74 | — | — | 95.22 | 9.24 | 14.50 | 10.76 | 12.40 |
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 | — | 1.19 | 1.16 | 0.65 | 0.53 | 1.13 | 0.53 | 0.62 | 0.76 | 0.61 | 0.44 |
| EV / EBITDA | 13.02 | 9.67 | 10.17 | 10.97 | — | 38.82 | 12.84 | 11.67 | 17.75 | 8.88 | 11.85 |
| EV / EBIT | 14.24 | 9.99 | 11.40 | 16.93 | — | 100.63 | 20.54 | 14.89 | 23.35 | 13.48 | 15.67 |
| EV / FCF | — | 11.52 | 16.36 | 6.66 | — | — | — | 31.34 | 48.23 | 15.66 | 26.49 |
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 | 20.5% | 20.5% | 19.0% | 12.3% | 4.6% | 10.5% | 10.9% | 13.1% | 11.9% | 12.9% | 13.9% |
| Operating Margin | 11.3% | 11.3% | 10.3% | 4.6% | -5.1% | 1.0% | 2.5% | 4.3% | 3.4% | 6.0% | 2.9% |
| Net Profit Margin | 8.6% | 8.6% | 7.8% | 2.1% | -5.7% | -0.0% | 1.4% | 2.4% | 3.0% | 2.9% | 0.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 61.6% | 61.6% | 105.8% | 115.1% | -3311.1% | — | — | — | — | — | — |
| ROA | 22.2% | 22.2% | 22.4% | 6.1% | -12.7% | -0.1% | 3.6% | 7.2% | 10.2% | 10.0% | 2.5% |
| ROIC | 102.6% | 102.6% | 94.7% | 30.0% | -17.9% | 3.7% | 24.5% | 63.4% | 62.9% | 208.0% | 147.5% |
| ROCE | 49.4% | 49.4% | 58.4% | 26.5% | -18.8% | 3.0% | 11.0% | 24.7% | 22.2% | 39.1% | 18.9% |
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 | 0.35 | 0.35 | 0.60 | 3.30 | 126.25 | — | — | — | — | — | — |
| Debt / EBITDA | 0.49 | 0.49 | 0.62 | 1.95 | — | 11.06 | 5.01 | 3.49 | 3.22 | 2.23 | 4.38 |
| Net Debt / Equity | — | -0.54 | -0.20 | 1.32 | 118.67 | — | — | — | — | — | — |
| Net Debt / EBITDA | -0.76 | -0.76 | -0.21 | 0.78 | — | 10.47 | 3.79 | 2.18 | 1.86 | 1.31 | 2.88 |
| Debt / FCF | — | -0.91 | -0.33 | 0.48 | — | — | — | 5.84 | 5.04 | 2.31 | 6.43 |
| Interest Coverage | 24.54 | 24.54 | 13.00 | 2.43 | -2.62 | 0.80 | 1.86 | 3.30 | 5.03 | 6.15 | 1.60 |
Net cash position: cash ($229M) exceeds total debt ($90M)
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 | 1.74 | 1.74 | 1.37 | 1.03 | 1.06 | 1.25 | 1.05 | 1.01 | 1.01 | 1.16 | 1.07 |
| Quick Ratio | 1.15 | 1.15 | 0.83 | 0.44 | 0.19 | 0.25 | 0.54 | 0.55 | 0.62 | 0.61 | 0.66 |
| Cash Ratio | 0.97 | 0.97 | 0.54 | 0.34 | 0.06 | 0.09 | 0.40 | 0.42 | 0.40 | 0.45 | 0.40 |
| Asset Turnover | — | 2.37 | 2.57 | 2.71 | 2.19 | 1.92 | 2.77 | 2.79 | 3.33 | 3.35 | 3.35 |
| Inventory Turnover | 8.44 | 8.44 | 8.54 | 7.35 | 5.34 | 4.89 | 13.85 | 11.23 | 15.75 | 11.34 | 14.92 |
| Days Sales Outstanding | — | 5.09 | 16.01 | 4.05 | 5.71 | 5.32 | 3.16 | 3.77 | 8.57 | 3.74 | 7.96 |
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 | — | — | — | — | — | — | — | — | 0.3% | 0.8% | 0.9% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.9% | 6.7% | 6.6% | 3.5% | — | — | 2.7% | 4.7% | 4.4% | 3.6% | 1.0% |
| FCF Yield | 6.1% | 8.0% | 6.0% | 16.2% | — | — | — | 3.9% | 2.3% | 7.5% | 5.0% |
| Buyback Yield | 2.0% | 2.6% | 0.7% | 0.1% | 0.7% | 0.1% | 0.0% | 9.8% | 3.8% | 6.7% | 0.0% |
| Total Shareholder Yield | 2.0% | 2.6% | 0.7% | 0.1% | 0.7% | 0.1% | 0.0% | 9.8% | 4.1% | 7.5% | 0.9% |
| Shares Outstanding | — | $33M | $33M | $32M | $31M | $27M | $27M | $27M | $29M | $25M | $21M |
Federal subsidy funding cliff
According to current market data, Blue Bird trades at a forward P/E of 16.52, which appears to discount the volatility of its municipal-driven revenue stream while simultaneously pricing in a premium for its leadership in the alternative fuel school bus market segment relative to traditional industrial peers.
The divergence between the TTM P/E of 20.31 and the forward P/E of 16.52 suggests that the market anticipates a significant earnings expansion, likely driven by the realization of the current order backlog. Investors should monitor whether this valuation multiple remains sustainable if the EPA Clean School Bus Program funding begins to taper, as the current PEG ratio of 0.32 implies aggressive growth expectations that may be difficult to maintain in a high-interest-rate environment.
Based on reported financial figures, Blue Bird has demonstrated a notable improvement in ROIC, which reached 25.6% in 2026Q2, suggesting that management is effectively deploying capital into high-margin alternative fuel vehicle production rather than legacy diesel manufacturing assets.
The upward trend in ROIC from 14.0% in 2024Q4 to recent levels indicates that the company is successfully compounding returns on its invested capital through improved operational efficiency. This performance warrants further investigation into whether these returns are structural or merely a temporary byproduct of the current favorable pricing environment for electric and propane-powered school buses.
As reported in recent quarterly filings, the cash conversion cycle has fluctuated between 3 and 13 days over the last ten quarters, reflecting the inherent challenges of managing inventory levels in a business model heavily dependent on seasonal municipal procurement cycles and supply chain logistics.
The variability in the cash conversion cycle suggests that Blue Bird's working capital efficiency is highly sensitive to the timing of chassis deliveries and final bus assembly. While the company has managed to keep DSO low, the reliance on inventory accumulation to meet seasonal demand spikes may continue to create periodic liquidity pressures that investors should monitor closely.
According to the latest balance sheet data, Blue Bird has aggressively reduced its debt-to-equity ratio to 0.30 in 2026Q2, a significant improvement from the 1.80 level observed in 2024Q1, which indicates a strategic shift toward a more conservative and resilient capital structure.
The reduction in debt, coupled with an interest coverage ratio of 8.36, suggests that the company is well-positioned to navigate potential cyclical downturns without the burden of excessive interest expenses. This improved solvency profile provides management with the flexibility to reinvest in next-generation vehicle technology without relying on external financing, which is a critical advantage in the capital-intensive automotive sector.
Investors frequently misapply standard P/E multiples to Blue Bird, failing to account for the fact that the company functions more like a mission-critical infrastructure provider than a traditional consumer cyclical manufacturer, which leads to an undervaluation of its recurring parts and service revenue streams.
The reliance on P/E ratios obscures the underlying quality of earnings, which are increasingly supported by the captive nature of the parts segment and the long-term service requirements of the installed bus fleet. A more appropriate metric for this business model would be an EV/EBITDA multiple adjusted for the cyclicality of the bus segment, as this would better capture the cash-generative potential of the company's proprietary technology and service network.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying BLBD stock.
Blue Bird Corporation's current P/E ratio is 20.5x. The historical average is 32.1x. This places it at the 33th percentile of its historical range.
Blue Bird Corporation's current EV/EBITDA is 13.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.1x.
Blue Bird Corporation's return on equity (ROE) is 61.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 61.7%.
Based on historical data, Blue Bird Corporation is trading at a P/E of 20.5x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Blue Bird Corporation has 20.5% gross margin and 11.3% operating margin. Operating margin between 10-20% is typical for established companies.
Blue Bird Corporation's Debt/EBITDA ratio is 0.5x, indicating low leverage. A ratio below 2x is generally considered financially healthy.