Latest Ratios: P/E Ratio -4.0x · EV/EBITDA N/A · ROE -27.4%. (2006–2025 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 | $200M | $140M | $232M | $266M | $356M | $334M | $556M | $542M | $694M | $614M | $605M |
| Enterprise Value | $148M | $88M | $122M | $47M | $181M | $197M | $358M | $299M | $479M | $499M | $406M |
| P/E Ratio → | -4.03 | — | 15.11 | 7.15 | 23.23 | 12.73 | 11.98 | 6.13 | 13.00 | 26.09 | 10.78 |
| P/S Ratio | 2.08 | 1.46 | 0.95 | 0.72 | 0.90 | 1.04 | 2.72 | 2.64 | 2.38 | 2.23 | 2.39 |
| P/B Ratio | 1.29 | 0.90 | 1.13 | 0.86 | 1.26 | 1.16 | 1.49 | 1.16 | 1.78 | 1.75 | 1.82 |
| P/FCF | — | — | 22.85 | 17.42 | 7.45 | 7.84 | 6.04 | 19.59 | 8.59 | 17.16 | 7.00 |
| P/OCF | — | — | 9.34 | 12.49 | 6.77 | 7.58 | 5.76 | 15.65 | 8.10 | 15.59 | 6.65 |
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 | — | 0.92 | 0.50 | 0.13 | 0.46 | 0.61 | 1.75 | 1.46 | 1.64 | 1.81 | 1.60 |
| EV / EBITDA | — | — | 7.84 | 1.25 | 6.46 | 8.45 | 10.69 | 3.87 | 6.43 | 23.17 | 8.58 |
| EV / EBIT | — | — | 7.43 | 1.25 | 13.04 | 12.29 | 16.02 | 4.58 | 7.93 | 29.97 | 9.91 |
| EV / FCF | — | — | 12.05 | 3.08 | 3.79 | 4.63 | 3.89 | 10.81 | 5.93 | 13.95 | 4.70 |
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 | -42.5% | -42.5% | 8.1% | 11.1% | 7.3% | 7.3% | 15.3% | 36.1% | 25.2% | 7.4% | 18.5% |
| Operating Margin | -56.7% | -56.7% | 2.6% | 7.4% | 4.4% | 4.0% | 10.9% | 31.8% | 21.8% | 3.6% | 14.4% |
| Net Profit Margin | -51.6% | -51.6% | 6.4% | 10.2% | 3.8% | 8.2% | 22.8% | 43.0% | 18.3% | 8.5% | 22.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -27.4% | -27.4% | 6.0% | 12.6% | 5.3% | 7.9% | 11.1% | 20.6% | 14.4% | 6.9% | 15.5% |
| ROA | -22.5% | -22.5% | 5.0% | 10.3% | 4.3% | 6.7% | 9.1% | 16.7% | 11.9% | 4.9% | 11.1% |
| ROIC | -40.8% | -40.8% | 5.1% | 20.6% | 10.1% | 5.9% | 8.4% | 24.6% | 23.1% | 4.0% | 14.7% |
| ROCE | -27.9% | -27.9% | 2.4% | 8.7% | 5.8% | 3.6% | 4.9% | 14.0% | 15.4% | 2.6% | 8.8% |
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 | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
| Debt / EBITDA | — | — | — | 0.01 | 0.02 | 0.03 | 0.01 | 0.01 | — | — | — |
| Net Debt / Equity | — | -0.33 | -0.53 | -0.71 | -0.62 | -0.47 | -0.53 | -0.52 | -0.55 | -0.33 | -0.60 |
| Net Debt / EBITDA | — | — | -7.03 | -5.81 | -6.25 | -5.86 | -5.90 | -3.14 | -2.89 | -5.32 | -4.21 |
| Debt / FCF | — | — | -10.81 | -14.34 | -3.66 | -3.21 | -2.15 | -8.78 | -2.66 | -3.20 | -2.30 |
| Interest Coverage | -354.60 | -354.60 | 119.08 | 271.89 | 108.33 | 122.60 | 147.94 | 377.51 | 348.84 | 96.80 | 236.87 |
Net cash position: cash ($51M) exceeds total debt ($0)
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 | 5.67 | 5.67 | 4.95 | 7.03 | 4.88 | 7.30 | 10.39 | 5.81 | 9.18 | 8.80 | 2.81 |
| Quick Ratio | 3.94 | 3.94 | 4.33 | 6.41 | 4.40 | 6.53 | 9.36 | 5.36 | 8.18 | 7.56 | 2.45 |
| Cash Ratio | 2.89 | 2.89 | 3.29 | 5.31 | 3.79 | 5.27 | 7.96 | 3.83 | 7.47 | 6.67 | 2.12 |
| Asset Turnover | — | 0.50 | 0.98 | 1.00 | 1.11 | 0.93 | 0.46 | 0.35 | 0.62 | 0.65 | 0.48 |
| Inventory Turnover | 4.45 | 4.45 | 10.84 | 12.89 | 13.71 | 11.06 | 5.11 | 3.49 | 5.54 | 5.82 | 3.96 |
| Days Sales Outstanding | — | 46.31 | 32.92 | 30.08 | 25.96 | 44.44 | 72.25 | 204.29 | 22.75 | 29.38 | 27.75 |
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 | 5.3% | 7.5% | 51.8% | 3.9% | 3.0% | 3.1% | 25.5% | 1.9% | 1.5% | 18.0% | 1.7% |
| Payout Ratio | — | — | 773.5% | 28.1% | 69.0% | 40.0% | 304.4% | 11.9% | 19.7% | 470.8% | 18.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 6.6% | 14.0% | 4.3% | 7.9% | 8.3% | 16.3% | 7.7% | 3.8% | 9.3% |
| FCF Yield | — | — | 4.4% | 5.7% | 13.4% | 12.8% | 16.5% | 5.1% | 11.6% | 5.8% | 14.3% |
| 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 | 5.3% | 7.5% | 51.8% | 3.9% | 3.0% | 3.1% | 25.5% | 1.9% | 1.5% | 18.1% | 1.7% |
| Shares Outstanding | — | $44M | $44M | $44M | $44M | $44M | $44M | $44M | $44M | $44M | $44M |
Biofuel margin crush spread
According to recent market data, FutureFuel trades at a price-to-sales multiple of 1.94, which appears disconnected from the company's negative earnings profile and suggests that investors are pricing the equity based on potential liquidation value rather than any near-term expectation of normalized profitability or growth.
The negative TTM P/E ratio of -3.75 reflects the severe earnings erosion currently plaguing the business. Investors should monitor whether the 5.7% dividend yield is sustainable or if it represents a final attempt to retain shareholder interest before a potential capital preservation pivot.
Based on historical financial statements, FutureFuel's ROIC has deteriorated from a positive 8.4% in 2023Q4 to a deeply negative -6.2% in 2026Q1, indicating that the company is currently destroying shareholder value with every dollar of capital deployed into its Batesville manufacturing infrastructure.
The consistent decline in ROIC suggests that the company's core assets are failing to generate returns above their cost of capital in the current commodity environment. This trend warrants further investigation into whether the Batesville facility requires a significant impairment charge to reflect its diminished economic utility.
As reported in recent quarterly filings, the company's asset turnover ratio has compressed to 0.17, down from 0.26 in 2023Q4, which highlights a significant decline in the efficiency with which the firm utilizes its asset base to generate revenue in a contracting market environment.
The cash conversion cycle has become increasingly erratic, fluctuating between 38 and 121 days over the last ten quarters. This instability suggests that management is struggling to balance inventory levels against the highly volatile feedstock costs inherent in the biodiesel production process.
Based on the most recent quarterly data, FutureFuel maintains a current ratio of 4.79, yet this figure masks the underlying reality that the company is burning cash rapidly, with the quick ratio of 3.02 indicating a heavy reliance on inventory that may be difficult to liquidate.
While the liquidity ratios appear superficially strong, the rapid depletion of cash reserves suggests that the company's ability to withstand prolonged negative margins is diminishing. Investors should monitor the cash burn rate closely, as the current trajectory may necessitate a shift in capital allocation strategy.
The price-to-earnings ratio is frequently misapplied to FutureFuel, as it fails to account for the massive, non-recurring impact of retroactive tax credits and commodity hedging volatility that frequently distort the company's reported net income and obscure the underlying operational performance of the specialty chemicals segment.
Analysts should instead focus on segment-level EBITDA or normalized cash flow metrics that strip out the noise of the Blenders Tax Credit. Relying on P/E in this context risks misinterpreting a cyclical trough in biofuel margins as a permanent impairment of the entire business model.
Includes 30+ ratios · 20 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 FF stock.
FutureFuel Corp.'s current P/E ratio is -4.0x. The historical average is 22.6x.
FutureFuel Corp.'s return on equity (ROE) is -27.4%. The historical average is 9.5%.
Based on historical data, FutureFuel Corp. is trading at a P/E of -4.0x. Compare with industry peers and growth rates for a complete picture.
FutureFuel Corp.'s current dividend yield is 5.27%.
FutureFuel Corp. has -42.5% gross margin and -56.7% operating margin.