Latest Ratios: P/E Ratio 31.8x · EV/EBITDA 9.2x · ROE 11.0%. (2014–2025 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 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $709M | $513M | $686M | $330M | $160M | $659M | — | — | — | — | — |
| Enterprise Value | $969M | $773M | $980M | $688M | $548M | $973M | — | — | — | — | — |
| P/E Ratio → | 31.76 | 22.55 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.25 | 0.90 | 1.20 | 0.64 | 0.31 | 1.53 | — | — | — | — | — |
| P/B Ratio | 3.16 | 2.24 | 3.70 | 1.49 | 0.39 | 1.23 | — | — | — | — | — |
| P/FCF | 9.93 | 7.18 | 18.16 | 41.36 | — | 313.61 | — | — | — | — | — |
| P/OCF | 9.58 | 6.93 | 17.69 | 21.52 | — | 28.66 | — | — | — | — | — |
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 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.36 | 1.71 | 1.34 | 1.07 | 2.26 | — | — | — | — | — |
| EV / EBITDA | 9.18 | 7.32 | 26.09 | — | — | 20.72 | — | — | — | — | — |
| EV / EBIT | 16.55 | 13.20 | — | — | — | 91.76 | — | — | — | — | — |
| EV / FCF | — | 10.82 | 25.94 | 86.20 | — | 462.94 | — | — | — | — | — |
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 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 67.3% | 67.3% | 67.7% | 64.1% | 64.6% | 70.3% | 72.7% | 73.3% | 73.6% | 70.7% | 69.3% |
| Operating Margin | 10.3% | 10.3% | -2.1% | -16.0% | -32.7% | 2.8% | 6.6% | 9.2% | 8.0% | -6.5% | 0.0% |
| Net Profit Margin | 4.0% | 4.0% | -5.9% | -30.5% | -31.0% | 4.5% | 5.1% | 2.0% | -3.8% | -13.4% | -5.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.0% | 11.0% | -16.5% | -49.3% | -33.6% | 5.7% | 11.3% | 4.7% | -7.2% | -18.4% | -7.3% |
| ROA | 3.2% | 3.2% | -4.4% | -14.3% | -12.2% | 2.3% | 3.4% | 1.5% | -2.6% | -7.4% | -3.0% |
| ROIC | 9.1% | 9.1% | -1.7% | -8.9% | -15.2% | 1.7% | 6.1% | 8.1% | 5.6% | -3.5% | 0.0% |
| ROCE | 11.3% | 11.3% | -2.1% | -9.6% | -15.8% | 1.7% | 5.6% | 8.2% | 6.6% | -4.3% | 0.0% |
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 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.36 | 1.36 | 1.81 | 1.79 | 1.01 | 0.67 | 1.31 | 1.36 | 1.34 | 1.02 | 0.96 |
| Debt / EBITDA | 2.95 | 2.95 | 8.93 | — | — | 7.62 | 3.78 | 3.22 | 3.56 | 11.92 | 5.93 |
| Net Debt / Equity | — | 1.14 | 1.58 | 1.62 | 0.94 | 0.59 | 0.70 | 0.92 | 1.05 | 1.00 | 0.87 |
| Net Debt / EBITDA | 2.46 | 2.46 | 7.83 | — | — | 6.68 | 2.04 | 2.17 | 2.78 | 11.62 | 5.38 |
| Debt / FCF | — | 3.64 | 7.78 | 44.84 | — | 149.33 | 1.99 | 4.12 | 3.89 | 16.69 | — |
| Interest Coverage | 2.21 | 2.21 | -0.27 | -1.98 | -14.72 | 9.53 | 2.63 | 1.45 | 1.32 | -1.25 | 0.05 |
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 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.70 | 1.70 | 1.31 | 1.53 | 0.90 | 1.45 | 1.73 | 2.06 | 2.27 | 1.13 | 1.83 |
| Quick Ratio | 1.19 | 1.19 | 0.87 | 1.01 | 0.62 | 1.11 | 1.49 | 1.75 | 1.85 | 0.73 | 1.31 |
| Cash Ratio | 0.32 | 0.32 | 0.20 | 0.21 | 0.10 | 0.24 | 0.71 | 0.72 | 0.65 | 0.06 | 0.30 |
| Asset Turnover | — | 0.83 | 0.79 | 0.63 | 0.37 | 0.35 | 0.65 | 0.72 | 0.72 | 0.52 | 0.56 |
| Inventory Turnover | 2.26 | 2.26 | 2.00 | 2.02 | 2.14 | 2.08 | 3.01 | 3.33 | 3.07 | 2.11 | 2.80 |
| Days Sales Outstanding | — | 82.44 | 81.11 | 87.48 | 97.14 | 105.85 | 100.33 | 91.35 | 83.53 | 78.44 | 70.74 |
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 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | 0.1% | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | 1.9% | 121.2% | 133.4% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 4.4% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 10.1% | 13.9% | 5.5% | 2.4% | — | 0.3% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | — | — | — | — | — |
| Shares Outstanding | — | $69M | $65M | $63M | $61M | $45M | $38M | $57M | $57M | $56M | $56M |
Reimbursement and leverage sensitivity
Based on current market data, Bioventus trades at a P/S of 1.16 and a forward P/E of 12.60, suggesting that investors are pricing in a significant turnaround discount compared to broader medical device peers due to historical volatility and persistent concerns regarding organic growth sustainability.
The valuation gap relative to higher-growth peers appears to reflect market skepticism regarding the company's ability to maintain its current margin profile. Investors should monitor whether the forward P/E multiple expands as the company demonstrates consistent deleveraging and operational stability.
As reported in financial statements, the company's ROIC has struggled to gain traction, peaking at only 3.3% in 2025Q4, which indicates that the firm has historically failed to generate returns on invested capital that exceed its likely cost of capital during its aggressive acquisition phase.
The low ROIC trend suggests that past capital allocation, particularly regarding M&A, has been value-destructive rather than compounding. Future improvements in this metric will depend heavily on the company's ability to drive higher margins from its existing asset base without further dilutive capital deployment.
According to quarterly filings, the company's cash conversion cycle remains elevated, averaging over 200 days, which highlights significant inefficiencies in inventory management and a reliance on extended payment terms that constrain the firm's ability to convert operational activity into immediate, free cash flow.
The high DIO, which reached 201 days in 2025Q1, suggests that the company may be carrying excess inventory or struggling with product turnover in its restorative segment. This inefficiency warrants further investigation into whether current supply chain management practices are adequately aligned with market demand.
Based on recent quarterly data, the company has successfully reduced its debt-to-equity ratio from a peak of 2.05 in 2024Q3 to a nominal 0.08 in 2026Q1, signaling a dramatic shift in the firm's risk profile as it prioritizes balance sheet stabilization over debt-fueled expansion.
This rapid deleveraging appears to be a critical step in mitigating the interest coverage risks that previously threatened the company's solvency. While the balance sheet is now structurally healthier, investors should remain cautious about potential contingent liabilities that may not be fully captured in the current debt figures.
Financial records indicate that the net margin of 4.00% is frequently misapplied by market participants as a proxy for core earning power, failing to account for the significant non-cash amortization charges stemming from past acquisitions that obscure the company's true underlying cash-generating capacity.
Analysts should instead focus on FCF margins, which have shown more resilience and provide a clearer picture of the company's ability to fund operations internally. Relying solely on GAAP net income may lead to an overly pessimistic view of the firm's operational viability in the current environment.
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Quick answers to the most common questions about buying BVS stock.
Bioventus Inc.'s current P/E ratio is 31.8x. The historical average is 22.5x. This places it at the 100th percentile of its historical range.
Bioventus Inc.'s current EV/EBITDA is 9.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.0x.
Bioventus Inc.'s return on equity (ROE) is 11.0%. The historical average is -10.0%.
Based on historical data, Bioventus Inc. is trading at a P/E of 31.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Bioventus Inc. has 67.3% gross margin and 10.3% operating margin. Operating margin between 10-20% is typical for established companies.
Bioventus Inc.'s Debt/EBITDA ratio is 2.9x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.