Latest Ratios: P/E Ratio 107.8x · EV/EBITDA 19.6x · ROE 5.2%. (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 | $4.5B | $3.7B | $1.8B | $1.1B | $748M | $1.5B | $987M | $667M | $640M | $1.7B | $745M |
| Enterprise Value | $4.9B | $4.1B | $2.3B | $1.5B | $1.2B | $1.9B | $1.2B | $932M | $881M | $1.8B | $868M |
| P/E Ratio → | 107.81 | 93.29 | 5.54 | — | — | — | — | — | — | 38.51 | — |
| P/S Ratio | 1.77 | 1.48 | 0.81 | 0.51 | 0.27 | 0.68 | 0.62 | 0.36 | 0.34 | 1.09 | 0.56 |
| P/B Ratio | 4.59 | 3.97 | 2.71 | 3.26 | 1.87 | 3.55 | 1.81 | 0.99 | 0.84 | 2.08 | 0.98 |
| P/FCF | 52.85 | 44.03 | — | 105.82 | — | — | 33.46 | — | — | 108.25 | 45.92 |
| P/OCF | 24.41 | 20.34 | — | 10.62 | 28.87 | — | 23.01 | 37.70 | — | 45.60 | 19.52 |
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 | — | 1.64 | 1.03 | 0.69 | 0.45 | 0.88 | 0.78 | 0.51 | 0.47 | 1.14 | 0.66 |
| EV / EBITDA | 19.58 | 16.59 | 11.22 | 14.15 | — | 13.05 | 498.31 | 86.32 | 28.33 | 10.21 | — |
| EV / EBIT | 30.96 | 82.27 | 6.21 | — | 19.81 | — | — | — | — | 21.53 | — |
| EV / FCF | — | 48.90 | — | 142.14 | — | — | 42.23 | — | — | 113.81 | 53.51 |
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 | 10.1% | 10.1% | 8.3% | 4.2% | 1.7% | 5.6% | -2.3% | -1.3% | -1.2% | 8.1% | -0.8% |
| Operating Margin | 6.3% | 6.3% | 5.5% | 1.5% | -5.4% | 3.0% | -5.0% | -3.9% | -3.1% | 5.9% | -17.8% |
| Net Profit Margin | 1.7% | 1.7% | 15.2% | -2.0% | -0.5% | -7.6% | -7.7% | -4.4% | -3.5% | 3.1% | -19.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.2% | 5.2% | 66.9% | -11.6% | -3.4% | -34.6% | -20.2% | -11.2% | -8.3% | 6.1% | -28.4% |
| ROA | 2.0% | 2.0% | 17.8% | -2.6% | -0.9% | -11.3% | -8.5% | -5.3% | -4.2% | 3.1% | -15.3% |
| ROIC | 9.5% | 9.5% | 9.7% | 2.9% | -12.8% | 5.9% | -6.9% | -5.6% | -4.6% | 7.8% | -17.2% |
| ROCE | 9.8% | 9.8% | 9.5% | 3.0% | -14.4% | 6.1% | -6.6% | -5.6% | -4.4% | 6.8% | -15.9% |
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 | 0.58 | 0.58 | 0.78 | 1.38 | 1.37 | 1.13 | 0.62 | 0.45 | 0.37 | 0.31 | 0.34 |
| Debt / EBITDA | 2.19 | 2.19 | 2.56 | 4.45 | — | 3.19 | 136.08 | 28.13 | 8.99 | 1.44 | — |
| Net Debt / Equity | — | 0.44 | 0.73 | 1.12 | 1.24 | 1.06 | 0.47 | 0.39 | 0.32 | 0.11 | 0.16 |
| Net Debt / EBITDA | 1.65 | 1.65 | 2.39 | 3.61 | — | 3.00 | 103.44 | 24.53 | 7.74 | 0.50 | — |
| Debt / FCF | — | 4.87 | — | 36.31 | — | — | 8.77 | — | — | 5.56 | 7.59 |
| Interest Coverage | 1.06 | 1.06 | 8.51 | -0.88 | 2.14 | -5.50 | -3.00 | -2.41 | -2.15 | 3.81 | -10.29 |
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 | 1.97 | 1.97 | 1.73 | 1.01 | 1.65 | 1.13 | 1.90 | 2.09 | 2.26 | 2.91 | 2.46 |
| Quick Ratio | 0.98 | 0.98 | 0.57 | 0.38 | 0.68 | 0.35 | 0.69 | 0.71 | 0.73 | 1.24 | 1.16 |
| Cash Ratio | 0.26 | 0.26 | 0.07 | 0.12 | 0.13 | 0.05 | 0.34 | 0.17 | 0.17 | 0.88 | 0.74 |
| Asset Turnover | — | 1.11 | 1.14 | 1.18 | 1.89 | 1.41 | 1.15 | 1.22 | 1.23 | 1.00 | 0.86 |
| Inventory Turnover | 4.37 | 4.37 | 3.78 | 4.39 | 6.85 | 4.91 | 5.64 | 5.80 | 5.57 | 4.60 | 5.69 |
| Days Sales Outstanding | — | 50.56 | 32.16 | 28.29 | 9.42 | 14.67 | 13.94 | 19.91 | 20.28 | 12.29 | 8.05 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 | 0.9% | 1.1% | 18.1% | — | — | — | — | — | — | 2.6% | — |
| FCF Yield | 1.9% | 2.3% | — | 0.9% | — | — | 3.0% | — | — | 0.9% | 2.2% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 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% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $95M | $98M | $92M | $91M | $90M | $90M | $89M | $88M | $88M | $87M |
Commodity and energy volatility
As reported in recent financial filings, CENX trades at a forward P/E of 4.14, which appears to reflect the market's skepticism regarding the sustainability of current earnings rather than a genuine undervaluation of the company's long-term cash-generating potential compared to integrated peers like Alcoa.
The wide disparity between the trailing P/E of 110.31 and the forward multiple suggests that investors are pricing in a significant contraction in profitability as commodity cycles turn. This valuation profile is typical for a marginal producer where the market assigns little terminal value to assets that are highly sensitive to input cost volatility.
Based on historical data, Century Aluminum’s ROIC has struggled to exceed 4.6% in any single quarter over the last ten periods, indicating that the company is failing to consistently generate returns that exceed its cost of capital throughout the commodity cycle.
The persistent gap between ROIC and the company's cost of capital suggests that the business model is structurally challenged by high fixed costs and limited pricing power. Investors should monitor whether future investments in value-added products can drive a sustained improvement in capital efficiency, or if returns will remain tethered to LME price volatility.
According to quarterly data, the cash conversion cycle has fluctuated significantly, reaching 89 days in 2026Q1, which highlights the company's ongoing difficulty in optimizing inventory levels and managing supplier payment terms amidst shifting industrial demand and volatile raw material costs.
The high inventory days, consistently near 90, suggest that the company is forced to carry significant stock to mitigate supply chain risks, which ties up liquidity that could otherwise be used for debt reduction. This inefficiency appears to be a structural byproduct of the smelting process, where continuous production is required regardless of immediate market demand.
As indicated by the most recent balance sheet, the current ratio has improved to 2.30, providing a necessary cushion against the inherent volatility of the aluminum market, though this liquidity remains highly dependent on the company's ability to manage its significant inventory and receivables.
While the current ratio suggests a healthy short-term position, the quick ratio of 1.36 reveals that a substantial portion of this liquidity is tied up in inventory, which may be difficult to liquidate at full value during a sector-wide downturn. This liquidity profile appears adequate for current operations but warrants caution given the company's history of rapid cash burn during price troughs.
The P/E ratio is the most commonly misapplied metric for Century Aluminum, as it obscures the massive non-cash distortions caused by derivative hedging and inventory adjustments that frequently decouple reported net income from the company's actual operational cash flow generation.
Analysts should instead prioritize EV/EBITDA or free cash flow yield to better assess the company's ability to service debt and fund maintenance capital expenditures. Relying on P/E in a cyclical, capital-intensive business like aluminum smelting often leads to misleading conclusions about the company's true earning power at the peak or trough of a cycle.
Includes 30+ ratios · 30 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CENX stock.
Century Aluminum Company's current P/E ratio is 107.8x. The historical average is 36.9x. This places it at the 100th percentile of its historical range.
Century Aluminum Company's current EV/EBITDA is 19.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.4x.
Century Aluminum Company's return on equity (ROE) is 5.2%. The historical average is -7.7%.
Based on historical data, Century Aluminum Company is trading at a P/E of 107.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Century Aluminum Company has 10.1% gross margin and 6.3% operating margin.
Century Aluminum Company's Debt/EBITDA ratio is 2.2x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.