Latest Ratios: P/E Ratio 27.0x · EV/EBITDA 14.5x · ROE 12.1%. (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 | $1.7B | $1.3B | $1.6B | $1.4B | $1.3B | $1.2B | $1.1B | $993M | $869M | $861M | $745M |
| Enterprise Value | $1.7B | $1.3B | $1.6B | $1.3B | $1.2B | $1.1B | $1.1B | $1.0B | $818M | $823M | $721M |
| P/E Ratio → | 27.01 | 19.58 | 27.90 | 22.78 | 21.31 | — | 32.39 | 27.53 | 18.63 | 59.88 | 21.75 |
| P/S Ratio | 3.12 | 2.36 | 3.14 | 2.51 | 2.17 | 2.31 | 2.64 | 2.12 | 1.85 | 2.03 | 1.88 |
| P/B Ratio | 3.20 | 2.32 | 3.05 | 2.62 | 2.51 | 2.56 | 2.64 | 2.45 | 2.30 | 2.50 | 2.34 |
| P/FCF | 19.58 | 14.79 | 20.08 | 18.65 | 11.89 | 16.84 | 18.06 | 23.28 | 29.30 | 21.54 | 27.89 |
| P/OCF | 16.56 | 12.51 | 16.31 | 15.55 | 10.49 | 13.78 | 14.57 | 15.43 | 14.95 | 14.83 | 15.78 |
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 | — | 2.43 | 3.19 | 2.39 | 2.08 | 2.18 | 2.61 | 2.18 | 1.74 | 1.94 | 1.82 |
| EV / EBITDA | 14.51 | 11.04 | 15.28 | 12.15 | 9.89 | 10.80 | 14.87 | 12.03 | 8.86 | 12.66 | 9.67 |
| EV / EBIT | 20.43 | 15.55 | 21.26 | 16.27 | 14.66 | — | 22.93 | 19.11 | 13.50 | 18.87 | 11.65 |
| EV / FCF | — | 15.25 | 20.37 | 17.74 | 11.45 | 15.89 | 17.89 | 23.92 | 27.58 | 20.61 | 27.01 |
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 | 38.5% | 38.5% | 36.5% | 34.2% | 35.7% | 35.7% | 33.0% | 33.4% | 35.9% | 33.4% | 35.4% |
| Operating Margin | 15.6% | 15.6% | 14.8% | 14.4% | 16.0% | 15.0% | 11.3% | 12.8% | 14.9% | 10.5% | 14.0% |
| Net Profit Margin | 12.0% | 12.0% | 11.3% | 11.0% | 10.2% | -8.2% | 8.2% | 7.7% | 9.9% | 3.4% | 8.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.1% | 12.1% | 11.0% | 11.7% | 12.3% | -9.4% | 8.4% | 9.2% | 12.9% | 4.4% | 11.5% |
| ROA | 8.5% | 8.5% | 7.7% | 8.1% | 8.4% | -6.5% | 5.5% | 6.1% | 8.6% | 2.7% | 6.9% |
| ROIC | 11.1% | 11.1% | 11.3% | 13.0% | 16.5% | 14.2% | 8.5% | 11.9% | 16.5% | 11.1% | 16.4% |
| ROCE | 12.8% | 12.8% | 11.7% | 12.4% | 15.8% | 14.3% | 9.0% | 12.2% | 15.9% | 10.4% | 13.9% |
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 | 0.22 | 0.22 | 0.22 | 0.18 | 0.22 | 0.16 | 0.19 | 0.31 | 0.13 | 0.22 | 0.28 |
| Debt / EBITDA | 1.02 | 1.02 | 1.09 | 0.90 | 0.88 | 0.72 | 1.09 | 1.50 | 0.54 | 1.17 | 1.21 |
| Net Debt / Equity | — | 0.07 | 0.04 | -0.13 | -0.09 | -0.14 | -0.03 | 0.07 | -0.13 | -0.11 | -0.07 |
| Net Debt / EBITDA | 0.33 | 0.33 | 0.21 | -0.62 | -0.38 | -0.64 | -0.14 | 0.32 | -0.55 | -0.57 | -0.32 |
| Debt / FCF | — | 0.46 | 0.28 | -0.90 | -0.44 | -0.95 | -0.17 | 0.64 | -1.72 | -0.93 | -0.89 |
| Interest Coverage | 15.40 | 15.40 | 18.24 | 24.25 | 38.08 | -28.19 | 14.77 | 20.17 | 29.07 | 13.05 | 16.71 |
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 | 2.30 | 2.30 | 2.50 | 3.29 | 2.89 | 2.53 | 2.22 | 2.45 | 2.30 | 2.28 | 2.20 |
| Quick Ratio | 1.82 | 1.82 | 1.95 | 2.67 | 2.34 | 2.10 | 1.79 | 2.01 | 1.88 | 1.92 | 1.91 |
| Cash Ratio | 0.75 | 0.75 | 0.97 | 1.69 | 1.39 | 1.24 | 0.87 | 1.03 | 0.97 | 1.11 | 1.16 |
| Asset Turnover | — | 0.71 | 0.67 | 0.74 | 0.78 | 0.77 | 0.68 | 0.73 | 0.86 | 0.79 | 0.77 |
| Inventory Turnover | 6.31 | 6.31 | 6.11 | 6.04 | 6.06 | 6.66 | 6.20 | 7.39 | 6.93 | 7.71 | 8.95 |
| Days Sales Outstanding | — | 59.31 | 54.98 | 52.09 | 56.56 | 58.49 | 69.68 | 60.71 | 61.74 | 60.84 | 57.59 |
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 | 0.3% | 0.4% | 0.3% | 0.4% | 0.4% | 0.4% | 0.5% | 0.5% | 0.6% | 0.6% | 0.7% |
| Payout Ratio | 7.3% | 7.3% | 8.4% | 8.3% | 8.6% | — | 14.9% | 14.5% | 11.4% | 36.4% | 15.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.7% | 5.1% | 3.6% | 4.4% | 4.7% | — | 3.1% | 3.6% | 5.4% | 1.7% | 4.6% |
| FCF Yield | 5.1% | 6.8% | 5.0% | 5.4% | 8.4% | 5.9% | 5.5% | 4.3% | 3.4% | 4.6% | 3.6% |
| Buyback Yield | 3.3% | 4.4% | 2.6% | 3.0% | 1.7% | 0.7% | 0.7% | 1.2% | 1.1% | 0.2% | 0.2% |
| Total Shareholder Yield | 3.6% | 4.8% | 2.9% | 3.3% | 2.1% | 1.2% | 1.2% | 1.7% | 1.7% | 0.8% | 0.9% |
| Shares Outstanding | — | $30M | $31M | $32M | $32M | $32M | $33M | $33M | $34M | $33M | $33M |
Automotive production cyclicality
Based on current market data, CTS trades at a TTM P/E of 29.68, which appears to price in a significant growth premium relative to its historical averages and traditional automotive component peers, suggesting investors are increasingly valuing the company as a specialized industrial technology provider rather than a legacy supplier.
The forward P/E of 26.75 implies that the market expects sustained earnings expansion, likely driven by the company's successful penetration into higher-margin medical and aerospace markets. While this valuation is elevated compared to pure-play automotive peers, it may be justified if the company continues to successfully shift its revenue mix toward proprietary piezoelectric solutions.
As reported in recent financial statements, ROIC has fluctuated within a narrow 2.2% to 3.3% range over the last ten quarters, indicating that despite the company's strong balance sheet, it has yet to achieve a significant breakout in its ability to compound returns on invested capital.
The modest ROIC levels suggest that the company's heavy investment in specialized manufacturing facilities and recent acquisitions have not yet yielded the expected margin expansion required to drive superior capital returns. Investors should monitor whether future design wins in the medical sector can improve asset utilization and push these returns closer to the double-digit levels seen in higher-performing industrial tech peers.
According to the latest quarterly data, the cash conversion cycle has remained relatively elevated, averaging approximately 70 days over the past ten quarters, which suggests that the company's inventory-heavy manufacturing model continues to tie up significant capital compared to more agile, asset-light technology competitors.
The consistency in DSO and DIO figures indicates a stable but rigid operational structure that is highly sensitive to production volume fluctuations. While the current CCC is manageable, any further lengthening of the cycle could signal potential inefficiencies in supply chain management or a buildup of slow-moving inventory related to legacy automotive platforms.
Based on the most recent filings, CTS maintains a conservative debt-to-equity ratio of 0.17, which stands in stark contrast to more levered industrial peers and provides the company with significant financial flexibility to navigate potential downturns or pursue opportunistic M&A in the current high-rate environment.
The interest coverage ratio, which remains comfortably above 20x in recent periods, confirms that debt service is not a material risk to the company's ongoing operations. This financial strength is a key differentiator, allowing management to prioritize long-term strategic investments without the immediate pressure of refinancing or covenant constraints.
The P/E ratio is frequently misapplied to CTS because it fails to account for the company's ongoing transition from a cyclical automotive supplier to a high-margin medical component manufacturer, thereby obscuring the underlying improvement in earnings quality and the long-term value of its proprietary piezoelectric design wins.
Investors should instead focus on EV/EBITDA or FCF yield, as these metrics better capture the company's ability to generate cash from its specialized manufacturing base while stripping out the noise of non-cash charges and accounting shifts. Relying solely on P/E risks misinterpreting the company's valuation by ignoring the significant cash-generating potential of its non-automotive segments.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CTS stock.
CTS Corporation's current P/E ratio is 27.0x. The historical average is 25.5x. This places it at the 72th percentile of its historical range.
CTS Corporation's current EV/EBITDA is 14.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.5x.
CTS Corporation's return on equity (ROE) is 12.1%. The historical average is 8.5%.
Based on historical data, CTS Corporation is trading at a P/E of 27.0x. This is at the 72th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
CTS Corporation's current dividend yield is 0.27% with a payout ratio of 7.3%.
CTS Corporation has 38.5% gross margin and 15.6% operating margin. Operating margin between 10-20% is typical for established companies.
CTS Corporation's Debt/EBITDA ratio is 1.0x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.