Latest Ratios: P/E Ratio 1892.6x · EV/EBITDA 4.4x · ROE 0.1%. (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 | $100.8B | $92.1B | $82.9B | $104.7B | $110.5B | $89.9B | $69.2B | $128.3B | $127.0B | $138.8B | $117.5B |
| Enterprise Value | $148.5B | $139.8B | $120.0B | $140.1B | $142.7B | $133.8B | $121.9B | $185.0B | $170.4B | $176.5B | $152.3B |
| P/E Ratio → | 1892.65 | 1702.45 | 211.14 | 6.87 | — | 11.89 | — | 31.98 | 13.54 | 40.81 | 1038.33 |
| P/S Ratio | 0.53 | 0.49 | 0.44 | 0.50 | 0.46 | 0.57 | 0.65 | 0.81 | 0.43 | 0.58 | 0.64 |
| P/B Ratio | 1.38 | 1.24 | 1.06 | 1.22 | 1.33 | 0.99 | 0.81 | 1.27 | 1.25 | 1.38 | 1.21 |
| P/FCF | 8.92 | 8.15 | 6.90 | 5.90 | 3.83 | 7.07 | — | 12.40 | 20.60 | 58.60 | — |
| P/OCF | 4.11 | 3.75 | 3.04 | 3.27 | 2.70 | 3.81 | 5.69 | 4.98 | 5.55 | 7.33 | 10.99 |
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 | — | 0.74 | 0.63 | 0.67 | 0.59 | 0.85 | 1.15 | 1.16 | 0.57 | 0.73 | 0.83 |
| EV / EBITDA | 4.42 | 4.16 | 3.97 | 2.98 | 2.56 | 5.25 | 8.51 | 5.44 | 5.18 | 7.03 | 13.40 |
| EV / EBIT | 9.60 | 10.84 | 10.58 | 5.08 | 7.92 | 7.54 | — | 15.89 | 8.85 | 20.44 | — |
| EV / FCF | — | 12.38 | 10.00 | 7.89 | 4.94 | 10.51 | — | 17.87 | 27.63 | 74.49 | — |
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 | 17.7% | 17.7% | 16.0% | 22.9% | 22.8% | 14.5% | 9.6% | 17.3% | 9.7% | 7.9% | 3.6% |
| Operating Margin | 8.2% | 8.2% | 6.8% | 14.8% | 17.2% | 6.8% | -0.5% | 10.2% | 5.5% | 3.3% | -2.4% |
| Net Profit Margin | 0.0% | 0.0% | 0.2% | 7.3% | -1.0% | 4.8% | -19.2% | 2.5% | 3.1% | 1.4% | 0.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.1% | 0.1% | 0.5% | 18.1% | -2.9% | 8.6% | -21.8% | 4.0% | 9.3% | 3.4% | 0.1% |
| ROA | 0.0% | 0.0% | 0.1% | 5.4% | -0.9% | 2.7% | -7.2% | 1.4% | 3.4% | 1.3% | 0.0% |
| ROIC | 9.8% | 9.8% | 8.2% | 19.7% | 24.9% | 5.9% | -0.3% | 8.0% | 8.7% | 4.4% | -2.6% |
| ROCE | 7.8% | 7.8% | 6.5% | 16.2% | 20.9% | 5.1% | -0.3% | 7.4% | 7.7% | 3.8% | -2.1% |
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 | 1.14 | 1.14 | 0.91 | 0.74 | 0.67 | 0.77 | 0.96 | 0.77 | 0.65 | 0.63 | 0.60 |
| Debt / EBITDA | 2.51 | 2.51 | 2.37 | 1.34 | 1.00 | 2.74 | 5.72 | 2.28 | 2.00 | 2.52 | 5.13 |
| Net Debt / Equity | — | 0.64 | 0.47 | 0.41 | 0.39 | 0.48 | 0.62 | 0.56 | 0.43 | 0.37 | 0.36 |
| Net Debt / EBITDA | 1.42 | 1.42 | 1.23 | 0.75 | 0.58 | 1.72 | 3.68 | 1.67 | 1.32 | 1.50 | 3.06 |
| Debt / FCF | — | 4.22 | 3.10 | 1.99 | 1.11 | 3.45 | — | 5.47 | 7.03 | 15.89 | — |
| Interest Coverage | 2.50 | 2.50 | 2.49 | 7.21 | 6.87 | 7.05 | -10.16 | 4.82 | 7.62 | 4.16 | -0.37 |
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 | 1.26 | 1.26 | 1.25 | 1.21 | 1.09 | 1.15 | 1.22 | 1.12 | 1.05 | 1.16 | 1.16 |
| Quick Ratio | 0.98 | 0.98 | 0.97 | 0.94 | 0.80 | 0.86 | 0.94 | 0.83 | 0.78 | 0.86 | 0.86 |
| Cash Ratio | 0.46 | 0.46 | 0.42 | 0.33 | 0.24 | 0.33 | 0.49 | 0.28 | 0.33 | 0.40 | 0.40 |
| Asset Turnover | — | 0.68 | 0.67 | 0.75 | 0.84 | 0.55 | 0.40 | 0.54 | 1.06 | 0.87 | 0.70 |
| Inventory Turnover | 6.93 | 6.93 | 6.84 | 7.10 | 6.63 | 5.69 | 5.68 | 6.31 | 15.00 | 11.64 | 10.00 |
| Days Sales Outstanding | — | 53.25 | 50.52 | 52.69 | 50.33 | 61.00 | 61.49 | 54.85 | 24.50 | 29.60 | 28.82 |
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 | 5.0% | 5.5% | 6.0% | 4.6% | 3.9% | 4.8% | 9.2% | 5.4% | 5.3% | 4.4% | 3.9% |
| Payout Ratio | 9219.7% | 9219.7% | 1312.9% | 31.6% | — | 56.9% | — | 172.5% | 71.4% | 181.5% | 4008.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.1% | 0.1% | 0.5% | 14.5% | — | 8.4% | — | 3.1% | 7.4% | 2.5% | 0.1% |
| FCF Yield | 11.2% | 12.3% | 14.5% | 17.0% | 26.1% | 14.2% | — | 8.1% | 4.9% | 1.7% | — |
| Buyback Yield | 4.5% | 4.9% | 8.6% | 7.6% | 9.0% | 3.5% | 1.1% | 1.2% | 0.3% | 0.2% | 0.0% |
| Total Shareholder Yield | 9.4% | 10.4% | 14.6% | 12.2% | 13.0% | 8.3% | 10.3% | 6.6% | 5.6% | 4.7% | 3.9% |
| Shares Outstanding | — | $2.7B | $2.8B | $3.0B | $3.2B | $3.4B | $3.4B | $3.4B | $3.4B | $3.3B | $3.1B |
Commodity Price Volatility Exposure
According to current market data, BP trades at a forward P/E of 7.13, which reflects a persistent valuation discount compared to US-based peers like ExxonMobil and Chevron, suggesting that investors remain skeptical regarding the firm's ability to successfully pivot its legacy asset base toward lower-carbon energy returns.
The low forward P/E multiple relative to the broader energy sector indicates that the market is pricing in significant execution risk regarding the company's long-term energy transition strategy. While the 5.1% dividend yield provides a floor for income-oriented investors, the valuation gap suggests that the market requires more evidence of sustained, high-return capital allocation before re-rating the stock closer to its US-based counterparts.
Based on reported figures, BP's ROIC has struggled to maintain momentum, fluctuating between 1.0% and 5.8% over the last ten quarters, which highlights the difficulty of compounding returns while simultaneously funding high-intensity maintenance of legacy upstream assets and lower-yielding renewable energy infrastructure projects.
The inconsistency in ROIC suggests that the company is currently in a capital-intensive phase where the returns on new investments are not yet offsetting the depreciation and impairment of older assets. Investors should monitor whether the recent moderation of production cut targets leads to a more stable ROIC profile, as the current trend appears to be hampered by the structural drag of the energy transition.
As reported in financial statements, BP's asset turnover remains low at approximately 0.18, reflecting the massive capital base required for integrated operations, while the cash conversion cycle has shown significant volatility, swinging from -24 days to -3 days, driven largely by the timing of global energy trading settlements.
The negative cash conversion cycle is a structural feature of the business, as the company effectively utilizes supplier credit to finance its inventory and trading operations. However, the extreme swings in the CCC suggest that the firm's working capital efficiency is highly sensitive to commodity price shocks, which can disrupt the timing of cash inflows and outflows across its global retail and refining segments.
Based on recent quarterly filings, BP's debt-to-equity ratio has trended upward to 0.96 in 2026Q1 from 0.74 in 2023Q4, indicating that the firm is increasingly utilizing external debt to bridge the gap between volatile operating cash flows and the persistent capital requirements of its integrated energy business model.
The rising leverage profile warrants close monitoring, particularly as interest coverage ratios have shown significant volatility, dropping to negative levels during periods of asset impairment. While the current debt load appears manageable given the company's liquidity position, any sustained period of depressed commodity prices could tighten the firm's financial flexibility and pressure its ability to maintain current dividend levels.
The P/E ratio is frequently misapplied to BP, as it fails to account for the significant non-cash impairments and inventory holding gains that distort reported net income, making it a poor metric for assessing the underlying earning power of the company's integrated energy and trading operations.
Investors should instead focus on Underlying Replacement Cost Profit, which strips out the noise of commodity price fluctuations and accounting adjustments. Relying on standard P/E multiples obscures the true cash-generating capacity of the business, leading to potentially flawed conclusions about the firm's valuation and its ability to fund future capital expenditures.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying BP stock.
BP p.l.c.'s current P/E ratio is 1892.6x. The historical average is 20.2x. This places it at the 100th percentile of its historical range.
BP p.l.c.'s current EV/EBITDA is 4.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.8x.
BP p.l.c.'s return on equity (ROE) is 0.1%. The historical average is 10.9%.
Based on historical data, BP p.l.c. is trading at a P/E of 1892.6x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
BP p.l.c.'s current dividend yield is 4.95% with a payout ratio of 9219.7%.
BP p.l.c. has 17.7% gross margin and 8.2% operating margin.
BP p.l.c.'s Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.