Latest Ratios: P/E Ratio 4.9x · EV/EBITDA 2.6x · ROE 9.2%. (2004–2025 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 | $309M | $252M | $200M | $241M | $102M | $80M | $90M | $137M | $110M | $174M | $135M |
| Enterprise Value | $210M | $153M | $204M | $287M | $323M | $342M | $404M | $435M | $459M | $507M | $467M |
| P/E Ratio → | 4.91 | 4.15 | 2.97 | 4.72 | 2.98 | — | 7.58 | 65.46 | — | — | — |
| P/S Ratio | 1.78 | 1.45 | 1.19 | 1.68 | 0.67 | 0.53 | 0.62 | 0.95 | 0.67 | 1.12 | 0.93 |
| P/B Ratio | 0.43 | 0.36 | 0.32 | 0.44 | 0.20 | 0.17 | 0.16 | 0.24 | 0.20 | 0.30 | 0.23 |
| P/FCF | 3.64 | 2.97 | — | 3.11 | 2.40 | 5.05 | 22.58 | 4.91 | — | — | — |
| P/OCF | 3.62 | 2.96 | 1.93 | 3.11 | 1.53 | 1.95 | 1.73 | 4.43 | 2.91 | 3.32 | 3.72 |
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 | — | 0.88 | 1.22 | 2.00 | 2.11 | 2.28 | 2.78 | 3.01 | 2.79 | 3.28 | 3.24 |
| EV / EBITDA | 2.61 | 1.90 | 2.37 | 4.44 | 5.04 | 6.70 | 6.09 | 6.96 | 7.25 | 8.31 | 9.03 |
| EV / EBIT | 3.81 | 2.65 | 3.41 | 5.79 | 9.11 | — | 17.25 | 19.24 | 41.67 | 32.81 | 72.26 |
| EV / FCF | — | 1.80 | — | 3.71 | 7.63 | 21.66 | 101.13 | 15.61 | — | — | — |
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 | 39.2% | 39.2% | 44.5% | 35.4% | 47.6% | 40.7% | 50.8% | 48.7% | 44.7% | 46.7% | 43.2% |
| Operating Margin | 31.8% | 31.8% | 35.8% | 28.6% | 23.7% | 9.3% | 19.5% | 16.1% | 13.4% | 14.3% | 8.8% |
| Net Profit Margin | 35.0% | 35.0% | 41.8% | 36.2% | 22.4% | -23.4% | 8.3% | 1.5% | -7.5% | -0.8% | -5.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.2% | 9.2% | 11.9% | 9.7% | 6.9% | -6.8% | 2.1% | 0.4% | -2.2% | -0.2% | -1.3% |
| ROA | 8.4% | 8.4% | 9.8% | 6.8% | 4.2% | -4.0% | 1.3% | 0.2% | -1.2% | -0.1% | -0.8% |
| ROIC | 6.8% | 6.8% | 7.3% | 4.6% | 3.7% | 1.3% | 2.4% | 2.0% | 1.8% | 1.8% | 1.1% |
| ROCE | 8.0% | 8.0% | 8.9% | 5.8% | 4.8% | 1.7% | 3.2% | 2.5% | 2.4% | 2.4% | 1.4% |
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 | 0.00 | 0.00 | 0.14 | 0.22 | 0.54 | 0.62 | 0.62 | 0.66 | 0.74 | 0.67 | 0.69 |
| Debt / EBITDA | 0.00 | 0.00 | 0.99 | 1.91 | 4.32 | 5.75 | 5.31 | 5.87 | 6.53 | 6.31 | 7.68 |
| Net Debt / Equity | — | -0.14 | 0.01 | 0.08 | 0.43 | 0.55 | 0.56 | 0.53 | 0.62 | 0.58 | 0.58 |
| Net Debt / EBITDA | -1.23 | -1.23 | 0.05 | 0.72 | 3.45 | 5.14 | 4.73 | 4.77 | 5.51 | 5.47 | 6.43 |
| Debt / FCF | — | -1.17 | — | 0.60 | 5.23 | 16.61 | 78.55 | 10.71 | — | — | — |
| Interest Coverage | 25.79 | 25.79 | 6.60 | 4.98 | 2.94 | -2.43 | 1.66 | 1.08 | 0.47 | 0.93 | 0.45 |
Net cash position: cash ($99M) exceeds total debt ($104801)
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 | 9.30 | 9.30 | 2.10 | 3.12 | 1.85 | 0.88 | 0.76 | 1.17 | 1.34 | 0.80 | 0.94 |
| Quick Ratio | 9.21 | 9.21 | 2.01 | 3.07 | 1.80 | 0.83 | 0.70 | 1.14 | 1.32 | 0.76 | 0.91 |
| Cash Ratio | 4.69 | 4.69 | 1.84 | 2.00 | 1.45 | 0.53 | 0.61 | 1.03 | 0.62 | 0.66 | 0.80 |
| Asset Turnover | — | 0.24 | 0.23 | 0.21 | 0.19 | 0.19 | 0.15 | 0.15 | 0.16 | 0.15 | 0.14 |
| Inventory Turnover | 55.42 | 55.42 | 23.87 | 46.81 | 26.13 | 32.10 | 19.34 | 30.21 | 38.73 | 29.75 | 29.15 |
| Days Sales Outstanding | — | 146.37 | 13.56 | 11.60 | 11.50 | 5.45 | 9.37 | 11.46 | 6.42 | 9.15 | 10.21 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 20.4% | 24.1% | 33.6% | 21.2% | 33.6% | — | 13.2% | 1.5% | — | — | — |
| FCF Yield | 27.5% | 33.7% | — | 32.2% | 41.6% | 19.8% | 4.4% | 20.4% | — | — | — |
| Buyback Yield | 0.6% | 0.7% | 0.2% | 7.9% | 0.0% | 0.0% | 4.3% | 1.3% | 0.0% | 0.0% | 1.5% |
| Total Shareholder Yield | 0.6% | 0.7% | 0.2% | 7.9% | 0.0% | 0.0% | 4.3% | 1.3% | 0.0% | 0.0% | 1.5% |
| Shares Outstanding | — | $36M | $35M | $37M | $38M | $38M | $38M | $40M | $40M | $40M | $40M |
Regional trade route volatility
According to recent market data, GASS trades at a P/B ratio of 0.42, which suggests that the market is heavily discounting the company's net asset value despite its debt-free status and consistent profitability compared to peers like Navigator Holdings which trade at higher multiples.
The current P/E of 4.83 and EV/EBITDA of 2.54 imply that investors are pricing in significant cyclical risk or governance concerns rather than the company's underlying cash-generating capacity. This valuation gap warrants further investigation into whether the market is failing to account for the specialized utility-like nature of the small-scale LPG fleet.
Based on reported financial statements, GASS has struggled to generate meaningful returns on invested capital, with ROIC hovering around 1.5% in 2026Q1, a trend that suggests the company's large cash reserves are diluting overall capital efficiency rather than driving incremental growth.
While the company maintains strong margins, the low ROIC indicates that the capital base is not being deployed into high-yielding assets. Investors should monitor whether management intends to utilize the $99M cash pile for share repurchases or fleet renewal to improve these return metrics.
As reported in recent quarterly filings, the cash conversion cycle has fluctuated significantly, moving from a negative 32 days in 2023Q4 to 123 days in 2026Q1, which indicates a potential deterioration in the company's ability to manage its working capital effectively over time.
The sharp increase in DSO to 153 days in 2026Q1 suggests that the company may be facing longer collection cycles from its regional customers. This trend appears to contradict the company's historical efficiency and warrants further investigation into the credit quality of its current charter counterparties.
Based on the latest balance sheet figures, GASS maintains a current ratio of 8.91, which provides a substantial liquidity cushion that appears far more conservative than the industry average, effectively insulating the firm from short-term operational stress or sudden shifts in regional LPG demand.
This high liquidity position is a direct result of the company's debt-free status and cash accumulation strategy. While this provides a fortress-like balance sheet, it also raises questions about the opportunity cost of holding such significant non-productive assets in a capital-intensive shipping environment.
The P/E ratio is frequently misapplied to GASS because it fails to account for the significant non-operating gains and asset sale proceeds that often distort net income, making the company appear cheaper than its core operational performance would otherwise justify to an institutional investor.
Analysts should instead focus on NAV-based valuation or EV/EBITDA to strip out the volatility caused by vessel disposals and non-recurring items. Relying on P/E in this context may lead to an inaccurate assessment of the company's true earning power and long-term value creation potential.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying GASS stock.
StealthGas Inc.'s current P/E ratio is 4.9x. The historical average is 14.9x. This places it at the 31th percentile of its historical range.
StealthGas Inc.'s current EV/EBITDA is 2.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.2x.
StealthGas Inc.'s return on equity (ROE) is 9.2%. The historical average is 4.4%.
Based on historical data, StealthGas Inc. is trading at a P/E of 4.9x. This is at the 31th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
StealthGas Inc. has 39.2% gross margin and 31.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
StealthGas Inc.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.