Latest Ratios: P/E Ratio -19.4x · EV/EBITDA 11.5x · ROE -10.9%. (2015–2025 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 | $1.3B | $1.1B | $892M | $1.2B | $1.2B | $1.4B | $1.9B | $2.3B | $2.0B | $1.8B | — |
| Enterprise Value | $1.5B | $1.4B | $1.6B | $2.0B | $2.0B | $2.2B | $3.3B | $4.2B | $4.1B | $4.0B | — |
| P/E Ratio → | -19.36 | — | — | 16.28 | 17.04 | 1024.00 | — | 29.12 | 34.44 | 31.63 | — |
| P/S Ratio | 1.79 | 1.56 | 1.27 | 1.69 | 1.46 | 2.31 | 3.92 | 4.37 | 1.24 | 1.25 | — |
| P/B Ratio | 2.27 | 1.87 | 1.27 | 1.65 | 1.69 | 1.90 | 1.52 | 1.30 | 1.20 | 1.13 | — |
| P/FCF | 18.49 | 16.14 | 11.02 | 16.16 | 9.37 | 20.17 | 11.31 | 16.62 | 17.06 | — | — |
| P/OCF | 9.21 | 8.04 | 5.95 | 8.48 | 6.41 | 10.86 | 8.70 | 8.70 | 8.02 | 15.82 | — |
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 | — | 1.88 | 2.33 | 2.86 | 2.44 | 3.59 | 6.58 | 7.83 | 2.52 | 2.72 | — |
| EV / EBITDA | 11.50 | 10.26 | 8.77 | 10.92 | 10.89 | 16.35 | 25.39 | 29.65 | 10.98 | 11.61 | — |
| EV / EBIT | 23.52 | 22.70 | 37.04 | 15.63 | 15.15 | 43.12 | 61.99 | 37.83 | 19.99 | 33.79 | — |
| EV / FCF | — | 19.48 | 20.32 | 27.39 | 15.65 | 31.42 | 18.97 | 29.78 | 34.65 | — | — |
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 | 21.9% | 21.9% | 28.6% | 28.6% | 27.4% | 28.9% | 30.4% | 31.4% | 23.7% | 25.6% | 23.9% |
| Operating Margin | 9.0% | 9.0% | 13.9% | 14.0% | 12.7% | 8.9% | 10.4% | 12.4% | 11.4% | 11.4% | 7.9% |
| Net Profit Margin | -9.8% | -9.8% | -0.9% | 10.3% | 9.0% | -22.9% | -56.2% | 14.9% | 3.6% | 3.9% | -7.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -10.9% | -10.9% | -0.9% | 10.1% | 10.2% | -13.9% | -18.2% | 4.6% | 3.5% | 4.3% | -12.6% |
| ROA | -4.6% | -4.6% | -0.4% | 3.8% | 3.9% | -5.5% | -7.4% | 1.8% | 1.3% | 1.3% | -3.0% |
| ROIC | 4.2% | 4.2% | 5.0% | 4.8% | 5.2% | 2.0% | 1.2% | 1.3% | 3.7% | 3.4% | 2.9% |
| ROCE | 4.6% | 4.6% | 5.8% | 5.6% | 5.9% | 2.3% | 1.5% | 1.6% | 4.5% | 4.1% | 3.4% |
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 | 0.71 | 0.71 | 1.28 | 1.28 | 1.29 | 1.25 | 1.12 | 1.06 | 1.27 | 1.37 | 2.49 |
| Debt / EBITDA | 3.25 | 3.25 | 4.80 | 4.97 | 4.98 | 6.90 | 11.13 | 13.48 | 5.73 | 6.47 | 12.06 |
| Net Debt / Equity | — | 0.39 | 1.08 | 1.15 | 1.13 | 1.06 | 1.03 | 1.03 | 1.24 | 1.33 | 2.42 |
| Net Debt / EBITDA | 1.76 | 1.76 | 4.02 | 4.48 | 4.37 | 5.85 | 10.24 | 13.10 | 5.57 | 6.28 | 11.73 |
| Debt / FCF | — | 3.34 | 9.31 | 11.23 | 6.28 | 11.24 | 7.65 | 13.16 | 17.59 | — | — |
| Interest Coverage | 1.75 | 1.75 | 0.90 | 2.83 | 3.55 | 1.38 | 1.04 | 1.65 | 2.23 | 0.66 | 0.99 |
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 | 2.64 | 2.64 | 2.64 | 2.07 | 2.07 | 2.01 | 2.12 | 2.11 | 2.19 | 1.90 | 2.03 |
| Quick Ratio | 2.42 | 2.42 | 2.14 | 1.69 | 1.73 | 1.64 | 1.86 | 1.60 | 1.15 | 0.99 | 1.10 |
| Cash Ratio | 1.63 | 1.63 | 1.27 | 0.74 | 0.86 | 0.97 | 0.56 | 0.20 | 0.23 | 0.23 | 0.29 |
| Asset Turnover | — | 0.57 | 0.39 | 0.38 | 0.44 | 0.32 | 0.16 | 0.12 | 0.37 | 0.33 | 0.25 |
| Inventory Turnover | 21.10 | 21.10 | 8.80 | 10.93 | 13.42 | 8.07 | 6.53 | 2.66 | 4.63 | 4.17 | 3.57 |
| Days Sales Outstanding | — | 43.03 | 40.38 | 42.94 | 33.27 | 48.25 | 33.81 | 95.95 | 44.66 | 47.97 | 56.52 |
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 | — | — | — | — | — | 30.9% | 12.5% | 3.4% | 4.0% | 2.4% | — |
| Payout Ratio | — | — | — | — | — | — | — | 100.6% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 6.1% | 5.9% | 0.1% | — | 3.4% | 2.9% | 3.2% | — |
| FCF Yield | 5.4% | 6.2% | 9.1% | 6.2% | 10.7% | 5.0% | 8.8% | 6.0% | 5.9% | — | — |
| Buyback Yield | 3.6% | 4.2% | 0.6% | 6.7% | 11.4% | 0.1% | 0.1% | 0.2% | 0.1% | 0.0% | — |
| Total Shareholder Yield | 3.6% | 4.2% | 0.6% | 6.7% | 11.4% | 31.0% | 12.6% | 3.6% | 4.2% | 2.4% | — |
| Shares Outstanding | — | $116M | $117M | $119M | $135M | $138M | $136M | $136M | $135M | $112M | $78M |
Earnings and margin volatility
According to current market data, Ecovyst trades at an EV/EBITDA of 11.81, which appears to incorporate a significant discount relative to specialized peers, likely reflecting investor skepticism regarding the company's ability to sustain consistent profitability following its recent portfolio simplification and rebranding efforts.
The forward EV/EBITDA multiple of 6.92 suggests that the market anticipates a meaningful recovery in earnings power, yet the negative TTM P/E ratio highlights the persistent impact of non-recurring charges on bottom-line results. Investors should monitor whether the valuation gap narrows as the company demonstrates more stable cash flow generation from its core Ecoservices and Catalyst Technologies segments.
Based on reported financial figures, Ecovyst's ROIC has struggled to maintain momentum, fluctuating between -0.0% and 14.5% over the last ten quarters, which indicates that the company is currently failing to consistently compound returns on its invested capital base in a meaningful way.
The volatility in ROIC appears driven by the lumpy nature of catalyst change-outs and the heavy fixed-cost burden of its regeneration infrastructure. Unless management can improve asset utilization and stabilize margins, the company may continue to struggle to generate returns that meaningfully exceed its cost of capital.
As reported in recent quarterly filings, the company's cash conversion cycle has shown significant variability, ranging from 26 to 55 days, suggesting that Ecovyst faces ongoing challenges in optimizing its working capital efficiency amidst shifting demand patterns in the refining and catalyst markets.
The fluctuation in DSO and DIO metrics implies that the company's ability to manage customer receivables and inventory levels is highly sensitive to the timing of large-scale industrial projects. This lack of operational consistency warrants further investigation into whether current inventory management practices are sufficient to support the company's long-term growth objectives.
According to recent balance sheet data, Ecovyst has aggressively reduced its debt-to-equity ratio from 1.28 in 2023Q4 to a nominal 0.08 in 2026Q1, signaling a successful shift toward a more conservative capital structure that significantly mitigates previous refinancing risks.
This rapid deleveraging provides a much-needed buffer against the inherent volatility of the chemical sector, allowing the company to navigate potential downturns with greater flexibility. Investors should monitor whether this improved balance sheet strength will be utilized for strategic acquisitions or returned to shareholders through capital allocation initiatives.
The P/E ratio is frequently misapplied to Ecovyst's business model, as it fails to account for the significant non-cash impairments and equity-method accounting of the Zeolyst JV, which distort the company's true earnings power and mask its underlying cash-generating capacity.
Analysts should instead focus on Adjusted EBITDA or Proportional Revenue to better capture the economic contribution of the company's joint ventures and core operations. Relying on headline P/E figures likely leads to an inaccurate assessment of the company's valuation and its potential for future cash flow growth.
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying ECVT stock.
Ecovyst Inc.'s current P/E ratio is -19.4x. The historical average is 25.7x.
Ecovyst Inc.'s current EV/EBITDA is 11.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.0x.
Ecovyst Inc.'s return on equity (ROE) is -10.9%. The historical average is -1.7%.
Based on historical data, Ecovyst Inc. is trading at a P/E of -19.4x. Compare with industry peers and growth rates for a complete picture.
Ecovyst Inc. has 21.9% gross margin and 9.0% operating margin.
Ecovyst Inc.'s Debt/EBITDA ratio is 3.2x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.