Latest Ratios: P/E Ratio 11.0x · EV/EBITDA 8.2x · ROE 4.8%. (2005–2025 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 | $6.1B | $6.4B | $5.1B | $7.9B | $5.8B | $7.7B | $12.6B | $15.5B | $12.6B | $15.7B | $11.0B |
| Enterprise Value | $15.1B | $14.3B | $14.2B | $18.3B | $15.0B | $17.2B | $19.0B | $22.6B | $17.6B | $20.8B | $15.0B |
| P/E Ratio → | 11.01 | 16.40 | 32.35 | 128.44 | 27.42 | 41.59 | 25.26 | 24.78 | 21.10 | 23.63 | 20.09 |
| P/S Ratio | 0.73 | 0.88 | 0.70 | 1.19 | 0.95 | 1.55 | 2.37 | 3.03 | 2.80 | 3.63 | 2.71 |
| P/B Ratio | 0.56 | 0.84 | 0.59 | 1.05 | 0.72 | 1.05 | 1.88 | 2.01 | 2.68 | 4.32 | 2.95 |
| P/FCF | 7.07 | 8.47 | 9.53 | — | — | 21.89 | 15.23 | 98.69 | 29.26 | 30.23 | 42.19 |
| P/OCF | 5.28 | 6.33 | 5.61 | 35.93 | — | 12.82 | 11.38 | 27.17 | 17.05 | 18.63 | 19.87 |
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 | — | 1.98 | 1.96 | 2.78 | 2.47 | 3.48 | 3.55 | 4.43 | 3.92 | 4.82 | 3.70 |
| EV / EBITDA | 8.17 | 8.82 | 8.69 | 14.93 | 12.55 | 17.98 | 14.40 | 15.76 | 14.37 | 17.07 | 13.13 |
| EV / EBIT | 11.14 | 12.03 | 13.53 | 25.37 | 19.14 | 29.38 | 17.22 | 19.80 | 17.57 | 22.01 | 15.91 |
| EV / FCF | — | 19.01 | 26.69 | — | — | 49.10 | 22.85 | 144.29 | 40.88 | 40.11 | 57.50 |
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 | 35.7% | 35.7% | 38.7% | 37.7% | 36.5% | 39.8% | 42.2% | 45.9% | 45.7% | 49.8% | 47.2% |
| Operating Margin | 16.4% | 16.4% | 16.5% | 11.9% | 12.9% | 12.1% | 18.7% | 22.2% | 22.2% | 23.2% | 23.2% |
| Net Profit Margin | 5.3% | 5.3% | 2.2% | 0.6% | 3.1% | 3.8% | 11.6% | 12.3% | 13.3% | 15.3% | 13.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.8% | 4.8% | 1.9% | 0.5% | 2.4% | 2.7% | 8.6% | 10.1% | 14.3% | 18.0% | 15.5% |
| ROA | 1.9% | 1.9% | 0.7% | 0.2% | 0.9% | 1.1% | 3.8% | 4.2% | 5.1% | 6.3% | 5.5% |
| ROIC | 5.4% | 5.4% | 5.0% | 3.3% | 3.5% | 3.0% | 5.4% | 6.9% | 8.1% | 9.1% | 9.6% |
| ROCE | 6.4% | 6.4% | 6.3% | 4.1% | 4.5% | 4.0% | 6.7% | 8.3% | 9.4% | 10.6% | 10.7% |
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 | 1.15 | 1.15 | 1.17 | 1.47 | 1.22 | 1.39 | 1.03 | 1.04 | 1.28 | 1.65 | 1.31 |
| Debt / EBITDA | 5.40 | 5.40 | 6.19 | 8.97 | 8.17 | 10.65 | 5.25 | 5.56 | 4.93 | 4.93 | 4.28 |
| Net Debt / Equity | — | 1.04 | 1.06 | 1.40 | 1.15 | 1.30 | 0.94 | 0.93 | 1.06 | 1.41 | 1.07 |
| Net Debt / EBITDA | 4.89 | 4.89 | 5.59 | 8.53 | 7.71 | 9.96 | 4.81 | 4.98 | 4.09 | 4.20 | 3.50 |
| Debt / FCF | — | 10.54 | 17.15 | — | — | 27.20 | 7.63 | 45.61 | 11.63 | 9.88 | 15.31 |
| Interest Coverage | 1.98 | 1.98 | 1.35 | 1.40 | 1.76 | 2.50 | 3.87 | 3.52 | 3.65 | 3.79 | 4.12 |
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 | 2.51 | 2.51 | 2.66 | 2.64 | 2.32 | 1.59 | 2.37 | 3.92 | 2.77 | 3.01 | 2.91 |
| Quick Ratio | 0.88 | 0.88 | 1.01 | 1.14 | 0.72 | 0.94 | 0.87 | 2.21 | 1.22 | 1.35 | 1.38 |
| Cash Ratio | 0.41 | 0.41 | 0.46 | 0.28 | 0.29 | 0.77 | 0.44 | 1.80 | 0.82 | 0.91 | 0.84 |
| Asset Turnover | — | 0.37 | 0.34 | 0.31 | 0.29 | 0.26 | 0.35 | 0.29 | 0.36 | 0.40 | 0.40 |
| Inventory Turnover | 1.41 | 1.41 | 1.24 | 1.18 | 1.19 | 1.31 | 1.54 | 1.05 | 1.25 | 1.33 | 1.30 |
| Days Sales Outstanding | — | 42.66 | 54.62 | 38.36 | 46.60 | 32.12 | 26.19 | 37.81 | 32.67 | 32.57 | 47.63 |
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 | 2.9% | 1.9% | 0.0% | — | 0.0% | 3.3% | 0.9% | 1.5% | 2.2% | 1.4% | 2.0% |
| Payout Ratio | 31.8% | 31.8% | 0.6% | — | 0.3% | 133.8% | 18.3% | 38.2% | 46.7% | 32.9% | 39.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.1% | 6.1% | 3.1% | 0.8% | 3.6% | 2.4% | 4.0% | 4.0% | 4.7% | 4.2% | 5.0% |
| FCF Yield | 14.2% | 11.8% | 10.5% | — | — | 4.6% | 6.6% | 1.0% | 3.4% | 3.3% | 2.4% |
| Buyback Yield | 2.3% | 1.9% | 0.0% | 0.0% | 0.1% | 1.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% |
| Total Shareholder Yield | 5.2% | 3.9% | 0.0% | 0.0% | 0.1% | 4.9% | 0.9% | 1.5% | 2.2% | 1.4% | 2.1% |
| Shares Outstanding | — | $681M | $680M | $680M | $680M | $682M | $686M | $664M | $685M | $684M | $684M |
High leverage and governance
According to current market data, Grifols trades at a forward P/E of 8.77, a valuation that appears to incorporate a significant complexity discount relative to industry peers, likely reflecting investor apprehension regarding historical related-party transactions and the company's persistent struggle to deleverage its balance sheet effectively.
The current P/S ratio of 0.76 suggests that the market is pricing in limited growth expectations and potential margin erosion. Investors should monitor whether the recent leadership transition and divestment of the Shanghai RAAS stake can catalyze a re-rating toward the higher multiples commanded by more transparent, less leveraged peers.
Based on reported financial figures, the company's ROIC has remained stagnant at approximately 1.2% as of 2026Q1, a level that suggests the firm is failing to generate returns on invested capital that exceed its cost of debt, thereby eroding long-term shareholder value creation.
The persistent gap between ROIC and the company's weighted average cost of capital warrants further investigation into the efficacy of past acquisitions. The reliance on goodwill-heavy assets appears to suppress return metrics, indicating that the core business may be less capital-efficient than headline figures might otherwise suggest.
As reported in recent quarterly filings, the company's days inventory outstanding (DIO) remains elevated at 277 days in 2026Q1, highlighting the structural inefficiency inherent in the long 7-to-12-month plasma fractionation cycle that ties up significant liquidity and limits the company's overall operational agility.
The inability to meaningfully reduce the cash conversion cycle suggests that Grifols remains vulnerable to input cost inflation and supply chain disruptions. Investors should monitor whether management can optimize the collection-to-sale pipeline, as current turnover ratios indicate that working capital management remains a primary drag on cash flow.
Based on the latest financial statements, the interest coverage ratio of 1.79 in 2026Q1 underscores a precarious debt service position, where even minor fluctuations in operating income could significantly impair the company's ability to meet its substantial interest obligations without further external financing or asset sales.
With a debt-to-equity ratio of 1.23, the company remains highly sensitive to interest rate volatility and credit market conditions. The reliance on debt to fund historical growth appears to have created a structural ceiling on financial flexibility, necessitating a disciplined focus on deleveraging to restore investor confidence.
As noted in recent market intelligence, the EV/EBITDA multiple is frequently misapplied to Grifols, as it obscures the true cash-generating capacity by failing to account for significant minority interest leakage and the potential impact of related-party transactions on the company's consolidated financial health.
Analysts should instead prioritize free cash flow (FCF) metrics and adjusted net debt figures to better assess the company's actual ability to service its obligations. Relying on headline EBITDA may lead to an overly optimistic assessment of the company's financial stability, given the historical opacity surrounding its debt consolidation.
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying GRFS stock.
Grifols, S.A.'s current P/E ratio is 11.0x. The historical average is 36.3x.
Grifols, S.A.'s current EV/EBITDA is 8.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.1x.
Grifols, S.A.'s return on equity (ROE) is 4.8%. The historical average is 15.1%.
Based on historical data, Grifols, S.A. is trading at a P/E of 11.0x. Compare with industry peers and growth rates for a complete picture.
Grifols, S.A.'s current dividend yield is 2.88% with a payout ratio of 31.8%.
Grifols, S.A. has 35.7% gross margin and 16.4% operating margin. Operating margin between 10-20% is typical for established companies.
Grifols, S.A.'s Debt/EBITDA ratio is 5.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.