Latest Ratios: P/E Ratio 26.4x · EV/EBITDA 16.7x · ROE 25.3%. (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 | $6.6B | $6.2B | $8.0B | $8.9B | $7.7B | $8.4B | $8.7B | $7.3B | $4.8B | $4.1B | $2.7B |
| Enterprise Value | $6.7B | $6.2B | $8.0B | $8.8B | $7.9B | $8.7B | $8.7B | $7.5B | $4.8B | $4.2B | $2.8B |
| P/E Ratio → | 26.35 | 23.23 | 26.64 | 32.61 | 30.88 | 31.40 | 27.34 | 33.00 | 23.16 | 41.47 | 24.75 |
| P/S Ratio | 2.62 | 2.43 | 3.31 | 3.93 | 3.61 | 3.94 | 4.20 | 3.74 | 2.67 | 2.44 | 1.71 |
| P/B Ratio | 7.14 | 6.29 | 7.19 | 8.02 | 9.65 | 13.53 | 9.69 | 9.99 | 8.05 | 7.53 | 5.14 |
| P/FCF | 20.39 | 18.93 | 21.86 | 32.50 | 30.52 | 33.74 | 20.29 | 29.25 | 20.32 | 41.43 | 28.16 |
| P/OCF | 17.09 | 15.87 | 19.27 | 26.91 | 24.87 | 27.32 | 17.85 | 24.10 | 16.58 | 25.04 | 19.89 |
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 | — | 2.47 | 3.29 | 3.88 | 3.69 | 4.08 | 4.19 | 3.85 | 2.72 | 2.50 | 1.77 |
| EV / EBITDA | 16.67 | 15.48 | 18.64 | 21.87 | 19.57 | 21.69 | 19.51 | 24.69 | 17.15 | 27.97 | 13.06 |
| EV / EBIT | 19.86 | 17.45 | 19.96 | 24.84 | 23.57 | 24.77 | 21.86 | 28.07 | 19.81 | 34.32 | 15.42 |
| EV / FCF | — | 19.17 | 21.76 | 32.11 | 31.20 | 34.90 | 20.23 | 30.09 | 20.68 | 42.35 | 29.14 |
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 | 30.0% | 30.0% | 35.1% | 35.3% | 35.8% | 36.0% | 33.7% | 31.9% | 31.1% | 31.0% | 29.3% |
| Operating Margin | 13.4% | 13.4% | 15.1% | 15.0% | 16.1% | 16.0% | 18.7% | 13.3% | 13.7% | 6.8% | 11.3% |
| Net Profit Margin | 10.5% | 10.5% | 12.4% | 12.0% | 11.7% | 12.6% | 15.4% | 11.3% | 11.5% | 5.9% | 6.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 25.3% | 25.3% | 27.1% | 28.6% | 35.1% | 35.2% | 39.3% | 33.4% | 36.3% | 18.4% | 21.0% |
| ROA | 16.0% | 16.0% | 18.1% | 17.5% | 17.9% | 19.3% | 23.6% | 19.6% | 21.7% | 10.9% | 12.6% |
| ROIC | 23.7% | 23.7% | 26.4% | 25.9% | 27.3% | 28.8% | 32.3% | 23.9% | 28.0% | 13.6% | 22.2% |
| ROCE | 24.7% | 24.7% | 26.8% | 27.2% | 31.4% | 31.5% | 36.4% | 28.8% | 32.3% | 15.8% | 25.7% |
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 | 0.16 | 0.16 | 0.13 | 0.14 | 0.31 | 0.52 | 0.15 | 0.30 | 0.15 | 0.19 | 0.21 |
| Debt / EBITDA | 0.38 | 0.38 | 0.33 | 0.39 | 0.61 | 0.80 | 0.30 | 0.71 | 0.32 | 0.68 | 0.51 |
| Net Debt / Equity | — | 0.08 | -0.03 | -0.10 | 0.22 | 0.47 | -0.03 | 0.29 | 0.14 | 0.17 | 0.18 |
| Net Debt / EBITDA | 0.20 | 0.20 | -0.09 | -0.27 | 0.43 | 0.72 | -0.06 | 0.69 | 0.30 | 0.61 | 0.44 |
| Debt / FCF | — | 0.25 | -0.10 | -0.40 | 0.68 | 1.16 | -0.06 | 0.85 | 0.36 | 0.92 | 0.98 |
| Interest Coverage | 204.30 | 204.30 | 225.42 | 113.73 | 72.92 | 188.53 | 169.15 | 58.69 | 49.02 | 28.37 | 48.66 |
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 | 1.05 | 1.05 | 1.38 | 1.61 | 0.92 | 0.76 | 1.10 | 0.73 | 0.83 | 0.91 | 0.99 |
| Quick Ratio | 1.03 | 1.03 | 1.35 | 1.57 | 0.88 | 0.73 | 1.08 | 0.70 | 0.80 | 0.88 | 0.96 |
| Cash Ratio | 0.26 | 0.26 | 0.62 | 0.85 | 0.25 | 0.11 | 0.54 | 0.02 | 0.03 | 0.06 | 0.09 |
| Asset Turnover | — | 1.54 | 1.46 | 1.36 | 1.48 | 1.59 | 1.45 | 1.53 | 1.83 | 1.81 | 1.79 |
| Inventory Turnover | 234.87 | 234.87 | 192.47 | 122.09 | 133.36 | 135.47 | 194.25 | 177.05 | 215.19 | 215.70 | 193.82 |
| Days Sales Outstanding | — | 26.34 | 25.70 | 29.26 | 23.83 | 23.41 | 22.26 | 27.08 | 24.47 | 24.89 | 30.56 |
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% | 0.5% | 0.3% | 0.3% | 0.3% | 0.3% | 0.2% | 0.3% | 0.4% | 0.4% | 0.6% |
| Payout Ratio | 11.9% | 11.9% | 9.0% | 8.6% | 8.8% | 8.2% | 6.6% | 9.0% | 9.1% | 17.7% | 15.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.8% | 4.3% | 3.8% | 3.1% | 3.2% | 3.2% | 3.7% | 3.0% | 4.3% | 2.4% | 4.0% |
| FCF Yield | 4.9% | 5.3% | 4.6% | 3.1% | 3.3% | 3.0% | 4.9% | 3.4% | 4.9% | 2.4% | 3.6% |
| Buyback Yield | 6.5% | 7.0% | 4.5% | 0.8% | 1.5% | 6.8% | 2.0% | 1.3% | 3.3% | 2.3% | 3.8% |
| Total Shareholder Yield | 7.0% | 7.5% | 4.8% | 1.0% | 1.8% | 7.1% | 2.3% | 1.5% | 3.7% | 2.8% | 4.4% |
| Shares Outstanding | — | $14M | $15M | $15M | $15M | $16M | $16M | $17M | $17M | $17M | $17M |
Medicare reimbursement policy shifts
Based on current market data, Chemed trades at a forward P/E of 19.03, which appears elevated relative to its recent revenue growth deceleration, suggesting that investors are pricing in a stability premium for its dual-segment business model rather than aggressive top-line expansion expectations.
The current valuation multiple reflects a market preference for the defensive characteristics of hospice and essential plumbing services over pure-play healthcare growth. However, the lack of a PEG ratio due to slowing growth suggests that the current P/E may be vulnerable if the company fails to demonstrate margin expansion in the coming quarters.
As reported in quarterly filings, Chemed's ROIC has trended downward from 8.4% in 2023Q4 to 6.0% in 2026Q1, indicating that the company's aggressive share repurchase program is effectively shrinking the equity base faster than the underlying business can generate incremental returns on invested capital.
The decline in ROIC suggests that while capital allocation is shareholder-friendly, it may be masking a stagnation in operational efficiency. Investors should monitor whether the company can improve its asset turnover, which has remained stagnant near 0.4x, to justify the current valuation levels.
According to recent financial statements, Chemed's current ratio has compressed significantly to 0.85 in 2026Q1 from 1.91 in 2024Q1, highlighting a tightening liquidity position driven by erratic working capital cycles and the timing of government reimbursement payments within the VITAS hospice segment.
The fluctuation in the cash conversion cycle suggests that the company's reliance on government-backed receivables creates periodic liquidity strain. This volatility necessitates a higher cash buffer than the current balance sheet provides, potentially limiting management's flexibility to pursue opportunistic acquisitions.
Based on reported figures, Chemed maintains a D/E ratio of 0.28 as of 2026Q1, which remains well below industry averages and provides a significant safety margin for debt service, as evidenced by an interest coverage ratio that continues to comfortably exceed 160x.
The company's minimal debt load is a structural advantage that insulates it from interest rate volatility, allowing it to prioritize share buybacks over debt reduction. This conservative stance appears to be a deliberate strategy to maintain operational independence in a highly regulated healthcare environment.
Market participants frequently misapply the low debt-to-equity ratio as a sign of operational strength, whereas it may actually obscure an under-utilization of balance sheet capacity that could otherwise be deployed to drive inorganic growth in a consolidating medical care facilities market.
Investors often view the near-zero debt as a 'fortress' balance sheet, but this metric fails to account for the opportunity cost of capital in a sector where scale is increasingly critical. A more appropriate metric for this business model would be the 'Medicare Cap Buffer,' which better captures the true regulatory risk to cash flow than traditional leverage ratios.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CHE stock.
Chemed Corporation's current P/E ratio is 26.4x. The historical average is 22.6x. This places it at the 67th percentile of its historical range.
Chemed Corporation's current EV/EBITDA is 16.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.3x.
Chemed Corporation's return on equity (ROE) is 25.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 18.4%.
Based on historical data, Chemed Corporation is trading at a P/E of 26.4x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Chemed Corporation's current dividend yield is 0.45% with a payout ratio of 11.9%.
Chemed Corporation has 30.0% gross margin and 13.4% operating margin. Operating margin between 10-20% is typical for established companies.
Chemed Corporation's Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.