Latest Ratios: P/E Ratio 5.9x · EV/EBITDA 17.0x · ROE 52.1%. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.4B | $16.3B | $17.0B | $12.8B | $10.7B | $13.7B | $10.4B | — | — | — |
| Enterprise Value | $19.9B | $24.1B | $27.4B | $21.9B | $20.3B | $23.1B | $16.9B | — | — | — |
| P/E Ratio → | 5.89 | 4.30 | — | 265.46 | — | — | — | — | — | — |
| P/S Ratio | 3.08 | 2.46 | 2.76 | 1.70 | 1.59 | 2.66 | 2.47 | — | — | — |
| P/B Ratio | 2.98 | 2.17 | 2.35 | 1.73 | 1.78 | 2.37 | 1.86 | — | — | — |
| P/FCF | 116.60 | 93.15 | 48.86 | — | 33.94 | 54.59 | 140.30 | — | — | — |
| P/OCF | 15.47 | 12.36 | 11.01 | 13.01 | 9.79 | 15.24 | 20.65 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.64 | 4.46 | 2.92 | 3.01 | 4.50 | 4.02 | — | — | — |
| EV / EBITDA | 16.97 | 14.51 | 15.29 | 12.51 | 12.99 | 17.93 | 66.35 | — | — | — |
| EV / EBIT | 81.52 | 35.30 | — | 30.23 | 299.84 | — | — | — | — | — |
| EV / FCF | — | 138.10 | 78.85 | — | 64.29 | 92.24 | 228.22 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 20.7% | 20.7% | 18.4% | 16.9% | 11.8% | 9.2% | 4.5% | 8.2% | 8.0% | 14.1% |
| Operating Margin | 5.2% | 5.2% | 3.6% | 3.5% | 0.6% | -2.0% | — | -0.9% | -10.5% | 2.3% |
| Net Profit Margin | 58.0% | 58.0% | -11.8% | 0.6% | -4.6% | -11.8% | -26.3% | -13.5% | -26.1% | -7.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 52.1% | 52.1% | -9.9% | 0.7% | -5.3% | -10.7% | -26.4% | -15.2% | -26.1% | -19.8% |
| ROA | 18.9% | 18.9% | -3.5% | 0.2% | -1.6% | -3.6% | -7.9% | -3.9% | -6.7% | -2.9% |
| ROIC | 1.6% | 1.6% | 1.0% | 1.2% | 0.2% | -0.6% | — | -0.2% | -2.4% | 0.8% |
| ROCE | 2.0% | 2.0% | 1.2% | 1.5% | 0.2% | -0.7% | — | -0.3% | -2.9% | 1.0% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.06 | 1.06 | 1.46 | 1.26 | 1.60 | 1.67 | 1.17 | 2.82 | 1.97 | 4.84 |
| Debt / EBITDA | 4.77 | 4.77 | 5.89 | 5.31 | 6.18 | 7.47 | 25.67 | 10.18 | 28.87 | 9.12 |
| Net Debt / Equity | — | 1.05 | 1.44 | 1.24 | 1.59 | 1.63 | 1.17 | 2.62 | 1.97 | 4.84 |
| Net Debt / EBITDA | 4.72 | 4.72 | 5.82 | 5.23 | 6.13 | 7.32 | 25.56 | 9.43 | 28.83 | 9.12 |
| Debt / FCF | — | 44.95 | 30.00 | — | 30.35 | 37.65 | 87.92 | — | — | — |
| Interest Coverage | 1.84 | 1.84 | -0.91 | 1.24 | 0.16 | -1.27 | -2.97 | -0.33 | -0.69 | 0.34 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.58 | 0.58 | 0.54 | 0.82 | 0.51 | 0.98 | 0.86 | 1.64 | 1.00 | 1.18 |
| Quick Ratio | 0.58 | 0.58 | 0.50 | 0.77 | 0.48 | 0.93 | 0.86 | 1.58 | 0.94 | 1.11 |
| Cash Ratio | 0.04 | 0.04 | 0.04 | 0.07 | 0.03 | 0.13 | 0.02 | 0.66 | 0.01 | 0.00 |
| Asset Turnover | — | 0.34 | 0.29 | 0.38 | 0.34 | 0.28 | 0.27 | 0.27 | 0.17 | 0.39 |
| Inventory Turnover | — | — | 46.52 | 63.61 | 70.83 | 56.86 | — | 60.85 | 40.18 | 47.83 |
| Days Sales Outstanding | — | 44.25 | 74.98 | 54.77 | 59.64 | 80.63 | 68.40 | 77.80 | 113.23 | 87.25 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | — | — | — |
| Payout Ratio | 0.8% | 0.8% | — | 55.1% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 17.0% | 23.3% | — | 0.4% | — | — | — | — | — | — |
| FCF Yield | 0.9% | 1.1% | 2.0% | — | 2.9% | 1.8% | 0.7% | — | — | — |
| Buyback Yield | 14.6% | 18.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 14.7% | 18.4% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% | — | — | — |
| Shares Outstanding | — | $379M | $381M | $370M | $367M | $362M | $355M | $181M | $314M | $326M |
High acquisition integration volatility
According to current market data, GFL trades at a forward P/E of 49.18, which suggests investors are pricing in significant future earnings expansion that contrasts sharply with the company's historical volatility and the more modest valuation multiples observed among established industry peers like Waste Management.
The wide gap between the trailing P/E of 5.30 and the forward multiple indicates that the market is heavily discounting current accounting noise in favor of projected operational improvements. Investors should monitor whether this premium is sustainable, as it implies a high-growth trajectory that may be difficult to maintain given the company's recent pivot toward organic margin expansion.
Based on reported financial statements, GFL's ROIC has struggled to gain traction, hovering near 0.2% as of 2026Q1, which indicates that the company's aggressive acquisition strategy has yet to generate the compounding returns on invested capital typically seen in more mature, asset-optimized waste management operators.
The persistent low return on capital suggests that the heavy integration costs and amortization of acquired intangibles are effectively neutralizing the benefits of scale. This warrants further investigation into whether the company can eventually achieve the double-digit ROIC levels demonstrated by peers like Republic Services once the current integration phase concludes.
As indicated by quarterly data, GFL's asset turnover remains low at 0.08, reflecting a capital-intensive business model where the efficiency of converting assets into revenue is hampered by the ongoing integration of disparate regional operations and the cyclical nature of the soil remediation segment.
The variability in DSO and DPO metrics suggests that management is still refining its working capital management across its expanded footprint. Investors should be cautious, as the lack of a stable cash conversion cycle may indicate underlying friction in collecting on municipal contracts or managing supplier payment terms effectively.
According to recent SEC filings, GFL's debt-to-equity ratio of 1.33 in 2026Q1 highlights a reliance on external financing that remains elevated compared to more conservative peers, potentially limiting the company's ability to navigate periods of rising interest rates or unexpected operational downturns without further capital adjustments.
The interest coverage ratio, which has fluctuated into negative territory in recent quarters, suggests that debt service remains a significant risk factor for the company's cash flow stability. This leverage profile appears to be a structural byproduct of the roll-up strategy, which may require a sustained period of deleveraging to improve the balance sheet's resilience.
Based on GFL's reported figures, the P/E ratio is the most commonly misapplied metric for this business model, as it is severely distorted by non-recurring divestiture gains and heavy amortization expenses that obscure the underlying cash-generative power of the company's core solid waste collection routes.
Investors should instead focus on EV/EBITDA or P/FCF to better capture the operational reality of a capital-intensive waste business. Relying on P/E in this context may lead to a fundamental misunderstanding of the company's true earning power, as it fails to account for the significant non-cash charges inherent in an acquisition-heavy growth strategy.
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying GFL stock.
GFL Environmental Inc.'s current P/E ratio is 5.9x. The historical average is 4.3x. This places it at the 100th percentile of its historical range.
GFL Environmental Inc.'s current EV/EBITDA is 17.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.3x.
GFL Environmental Inc.'s return on equity (ROE) is 52.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -6.7%.
Based on historical data, GFL Environmental Inc. is trading at a P/E of 5.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
GFL Environmental Inc.'s current dividend yield is 0.14% with a payout ratio of 0.8%.
GFL Environmental Inc. has 20.7% gross margin and 5.2% operating margin.
GFL Environmental Inc.'s Debt/EBITDA ratio is 4.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.