Latest Ratios: P/E Ratio 40.8x · EV/EBITDA 7.3x · ROE 19.7%. (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 | $2.3B | $2.2B | $1.5B | $1.6B | $1.8B | $1.8B | $1.5B | $1.7B | $1.0B | $1.4B | $1.6B |
| Enterprise Value | $2.7B | $2.6B | $1.9B | $2.0B | $2.1B | $2.1B | $1.7B | $2.0B | $1.3B | $1.6B | $1.8B |
| P/E Ratio → | 40.75 | 38.73 | 16.87 | 24.19 | 40.57 | 25.50 | 24.76 | 20.31 | 15.81 | 23.43 | 25.47 |
| P/S Ratio | 1.88 | 1.77 | 1.22 | 1.37 | 1.64 | 1.76 | 1.47 | 1.69 | 1.19 | 1.82 | 2.10 |
| P/B Ratio | 8.03 | 7.63 | 5.18 | 5.86 | 5.04 | 4.19 | 3.44 | 4.24 | 2.89 | 4.20 | 6.36 |
| P/FCF | 16.27 | 15.31 | 12.93 | 15.42 | 67.29 | 16.23 | 10.13 | 14.78 | 12.10 | 16.73 | 25.63 |
| P/OCF | 14.75 | 13.88 | 10.80 | 12.15 | 28.15 | 13.15 | 8.41 | 11.13 | 7.28 | 11.32 | 18.98 |
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 | — | 2.10 | 1.57 | 1.72 | 1.95 | 2.01 | 1.75 | 1.99 | 1.44 | 2.09 | 2.43 |
| EV / EBITDA | 7.28 | 6.92 | 9.21 | 10.30 | 13.66 | 10.70 | 10.07 | 10.26 | 7.62 | 11.10 | 10.63 |
| EV / EBIT | 9.02 | 21.48 | 13.16 | 16.26 | 27.55 | 17.77 | 16.72 | 15.70 | 11.78 | 15.37 | 15.26 |
| EV / FCF | — | 18.18 | 16.57 | 19.33 | 79.95 | 18.54 | 12.09 | 17.43 | 14.66 | 19.17 | 29.64 |
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 | 47.5% | 47.5% | 48.7% | 47.4% | 48.1% | 48.1% | 45.9% | 47.3% | 48.6% | 50.0% | 50.7% |
| Operating Margin | 24.5% | 24.5% | 11.0% | 10.6% | 7.2% | 11.9% | 10.7% | 12.7% | 12.0% | 13.4% | 17.4% |
| Net Profit Margin | 4.6% | 4.6% | 7.3% | 5.7% | 4.0% | 6.9% | 5.9% | 8.3% | 7.6% | 7.8% | 8.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.7% | 19.7% | 31.2% | 21.1% | 11.1% | 16.8% | 14.3% | 21.8% | 18.8% | 20.7% | 21.1% |
| ROA | 3.7% | 3.7% | 5.9% | 4.7% | 3.2% | 5.3% | 4.5% | 6.9% | 6.6% | 6.8% | 7.1% |
| ROIC | 32.5% | 32.5% | 14.3% | 13.5% | 8.5% | 13.2% | 11.3% | 14.8% | 13.9% | 15.0% | 19.9% |
| ROCE | 33.7% | 33.7% | 14.9% | 14.5% | 10.4% | 15.6% | 12.0% | 15.5% | 14.5% | 16.5% | 23.7% |
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 | 2.07 | 2.07 | 2.03 | 2.17 | 1.37 | 1.06 | 1.11 | 1.16 | 1.00 | 0.97 | 1.50 |
| Debt / EBITDA | 1.58 | 1.58 | 2.82 | 3.04 | 3.13 | 2.38 | 2.72 | 2.37 | 2.17 | 2.23 | 2.16 |
| Net Debt / Equity | — | 1.43 | 1.46 | 1.49 | 0.95 | 0.60 | 0.67 | 0.76 | 0.61 | 0.61 | 0.99 |
| Net Debt / EBITDA | 1.09 | 1.09 | 2.03 | 2.08 | 2.16 | 1.33 | 1.63 | 1.56 | 1.33 | 1.41 | 1.44 |
| Debt / FCF | — | 2.88 | 3.64 | 3.91 | 12.66 | 2.31 | 1.96 | 2.65 | 2.56 | 2.43 | 4.01 |
| Interest Coverage | 4.13 | 4.13 | 4.68 | 3.96 | 4.70 | 6.74 | 5.62 | 6.14 | 5.28 | 5.48 | 5.73 |
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 | 1.44 | 1.44 | 1.46 | 1.54 | 1.45 | 1.08 | 1.64 | 1.60 | 1.71 | 2.49 | 1.92 |
| Quick Ratio | 1.44 | 1.44 | 1.46 | 1.54 | 1.45 | 1.08 | 1.64 | 1.60 | 1.71 | 2.49 | 1.92 |
| Cash Ratio | 0.28 | 0.28 | 0.26 | 0.33 | 0.29 | 0.34 | 0.55 | 0.44 | 0.46 | 1.17 | 0.95 |
| Asset Turnover | — | 0.79 | 0.80 | 0.81 | 0.81 | 0.75 | 0.74 | 0.78 | 0.79 | 0.87 | 0.85 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 110.71 | 106.60 | 109.63 | 109.96 | 99.94 | 98.23 | 103.19 | 116.70 | 122.30 | 120.72 |
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 | 1.6% | 1.7% | 1.8% | 2.1% | 1.9% | 1.8% | 2.1% | 1.7% | 2.7% | 1.9% | 1.5% |
| Payout Ratio | 66.9% | 66.9% | 30.6% | 51.2% | 76.0% | 45.1% | 52.9% | 35.2% | 42.3% | 43.8% | 38.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.5% | 2.6% | 5.9% | 4.1% | 2.5% | 3.9% | 4.0% | 4.9% | 6.3% | 4.3% | 3.9% |
| FCF Yield | 6.1% | 6.5% | 7.7% | 6.5% | 1.5% | 6.2% | 9.9% | 6.8% | 8.3% | 6.0% | 3.9% |
| Buyback Yield | 3.6% | 3.8% | 4.6% | 7.9% | 5.4% | 2.3% | 2.6% | 1.8% | 3.3% | 2.1% | 1.6% |
| Total Shareholder Yield | 5.3% | 5.6% | 6.4% | 10.0% | 7.3% | 4.1% | 4.8% | 3.6% | 6.0% | 4.0% | 3.1% |
| Shares Outstanding | — | $28M | $29M | $30M | $31M | $32M | $32M | $32M | $33M | $33M | $33M |
Extreme customer concentration risk
According to current market data, CSGS trades at a forward P/E of 15.92, which suggests that investors are pricing the firm as a stable, mature cash generator rather than a high-growth software entity, despite the elevated TTM P/E of 40.75 driven by recent non-recurring accounting impacts.
The significant spread between trailing and forward multiples indicates that the market anticipates a normalization of earnings following recent volatility. This valuation appears to discount the potential for aggressive top-line expansion, favoring the company's established role as a critical infrastructure provider for North American cable incumbents.
Based on reported financial statements, CSGS has struggled to consistently compound returns on invested capital, with ROIC fluctuating between 2.6% and 7.7% over the last ten quarters, reflecting the heavy burden of historical acquisition-related goodwill on the company's total invested capital base.
The modest ROIC levels suggest that while the core business is operationally sound, the capital deployed for past M&A has not yet yielded significant incremental returns. Investors should monitor whether future cloud-native investments can improve these returns or if the asset-heavy nature of the business model will continue to suppress capital efficiency.
As reported in recent quarterly filings, CSGS exhibits significant variability in its working capital efficiency, with DSO figures consistently exceeding 100 days, which indicates that the company's cash conversion cycle is heavily dependent on the payment terms of its two largest, highly concentrated telecommunications customers.
The extended collection periods suggest that CSGS possesses limited leverage in dictating payment terms to its dominant clients. This reliance on large-scale, slow-paying customers creates a structural risk where liquidity can tighten rapidly if these key accounts experience their own operational or budgetary delays.
Based on the most recent balance sheet data, CSGS has aggressively reduced its debt burden, lowering the D/E ratio from 2.07 in 2025Q4 to 0.09 in 2026Q1, which significantly enhances the company's financial flexibility and reduces interest coverage risks in a higher-rate environment.
This rapid deleveraging appears to be a strategic pivot to strengthen the balance sheet, potentially in preparation for future capital allocation or to mitigate risks associated with the declining linear cable market. The improved leverage profile warrants further investigation into whether this capital was redirected toward dividends or share repurchases.
The P/E ratio is frequently misapplied to CSGS because it fails to account for the significant discrepancy between GAAP net income and actual free cash flow, which is often distorted by capitalized software development costs and non-cash charges inherent in the firm's legacy service model.
Analysts should prioritize P/FCF or EV/EBITDA over P/E to better assess the company's true economic productivity. Relying on earnings-based multiples may lead to an inaccurate assessment of the firm's ability to sustain its dividend and buyback programs, given the volatility in cash conversion observed in recent quarters.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CSGS stock.
CSG Systems International, Inc.'s current P/E ratio is 40.8x. The historical average is 21.9x. This places it at the 100th percentile of its historical range.
CSG Systems International, Inc.'s current EV/EBITDA is 7.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.0x.
CSG Systems International, Inc.'s return on equity (ROE) is 19.7%. The historical average is 22.1%.
Based on historical data, CSG Systems International, Inc. is trading at a P/E of 40.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
CSG Systems International, Inc.'s current dividend yield is 1.64% with a payout ratio of 66.9%.
CSG Systems International, Inc. has 47.5% gross margin and 24.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
CSG Systems International, Inc.'s Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.