Latest Ratios: P/E Ratio 53.5x · EV/EBITDA 19.1x · ROE N/A. (2016–2025 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 | $2.8B | $4.1B | $1.9B | $748M | $2.7B | $2.3B | $683M | $356M | — | — |
| Enterprise Value | $1.6B | $3.1B | $4.2B | $2.0B | $882M | $2.9B | $2.4B | $714M | $386M | — | — |
| P/E Ratio → | 53.46 | 70.82 | 92.43 | 204.86 | 1144.67 | 500.31 | 244.63 | 66.25 | — | — | — |
| P/S Ratio | 3.60 | 7.68 | 13.06 | 7.31 | 3.57 | 17.89 | 19.60 | 8.81 | 5.92 | — | — |
| P/B Ratio | — | — | 105.09 | 113.81 | — | — | — | — | — | — | — |
| P/FCF | 15.29 | 32.60 | 58.20 | 49.49 | 31.93 | 135.12 | 160.66 | 39.82 | 44.37 | — | — |
| P/OCF | 14.34 | 30.58 | 57.40 | 37.64 | 20.75 | 76.38 | 93.07 | 32.14 | 34.68 | — | — |
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 | — | 8.55 | 13.36 | 7.69 | 4.21 | 18.85 | 20.39 | 9.21 | 6.41 | — | — |
| EV / EBITDA | 19.06 | 36.45 | 58.28 | 56.04 | 72.11 | 256.44 | 112.08 | 51.59 | — | — | — |
| EV / EBIT | 21.95 | 41.86 | 77.76 | 60.98 | 87.13 | 321.95 | 119.13 | 50.70 | — | — | — |
| EV / FCF | — | 36.29 | 59.55 | 52.06 | 37.68 | 142.33 | 167.16 | 41.62 | 48.04 | — | — |
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 | 46.2% | 46.2% | 45.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 42.5% | 100.0% |
| Operating Margin | 20.4% | 20.4% | 19.4% | 10.1% | 2.4% | 4.0% | 15.1% | 15.1% | -30.3% | 26.1% | 15.0% |
| Net Profit Margin | 7.6% | 7.6% | 9.7% | 5.4% | 0.3% | 3.6% | 7.9% | 4.6% | -14.8% | 20.3% | 15.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | 108.9% | 84.2% | — | — | — | — | — | 540.2% | 447.9% |
| ROA | 6.9% | 6.9% | 8.1% | 4.2% | 0.2% | 2.4% | 7.4% | 7.2% | -34.6% | 68.3% | 54.3% |
| ROIC | 38.6% | 38.6% | 36.6% | 18.2% | 4.4% | 6.9% | 49.0% | 424.7% | -55.0% | 23.3% | — |
| ROCE | 19.0% | 19.0% | 17.0% | 8.2% | 1.8% | 2.7% | 14.8% | 25.2% | -75.1% | 90.7% | 56.3% |
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 | — | — | 3.93 | 8.53 | — | — | — | — | — | 22.55 | 27.86 |
| Debt / EBITDA | 4.11 | 4.11 | 2.13 | 3.99 | 13.50 | 15.73 | 5.59 | 3.34 | — | 4.05 | 5.64 |
| Net Debt / Equity | — | — | 2.44 | 5.91 | — | — | — | — | — | 20.06 | 23.99 |
| Net Debt / EBITDA | 3.71 | 3.71 | 1.32 | 2.77 | 11.01 | 12.99 | 4.36 | 2.23 | — | 3.60 | 4.85 |
| Debt / FCF | — | 3.69 | 1.35 | 2.57 | 5.75 | 7.21 | 6.50 | 1.80 | 3.67 | 6.11 | 6.79 |
| Interest Coverage | 3.14 | 3.14 | 7.36 | 5.02 | 2.03 | 3.10 | 8.67 | 5.90 | -3.27 | 4.51 | 12.43 |
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 | 7.60 | 7.60 | 6.26 | 4.16 | 5.45 | 8.06 | 9.71 | 8.94 | 9.51 | 17.12 | 22.68 |
| Quick Ratio | 7.60 | 7.60 | 6.26 | 4.16 | 5.45 | 8.06 | 9.71 | 8.94 | 9.51 | 17.12 | 22.68 |
| Cash Ratio | 2.95 | 2.95 | 3.49 | 2.41 | 2.25 | 3.29 | 3.91 | 3.81 | 7.60 | 10.73 | 13.59 |
| Asset Turnover | — | 0.88 | 0.79 | 0.74 | 0.65 | 0.56 | 0.63 | 1.20 | 1.73 | 2.56 | 3.62 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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 | 6.9% | 5.2% | — | — | — | 1.0% | 1.9% | 2.7% | 22.5% | — | — |
| Payout Ratio | 523.8% | 523.8% | — | — | — | 524.6% | 481.3% | 525.3% | — | 294.1% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.9% | 1.4% | 1.1% | 0.5% | 0.1% | 0.2% | 0.4% | 1.5% | — | — | — |
| FCF Yield | 6.5% | 3.1% | 1.7% | 2.0% | 3.1% | 0.7% | 0.6% | 2.5% | 2.3% | — | — |
| Buyback Yield | 6.2% | 2.9% | 1.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 13.1% | 8.1% | 1.5% | 0.0% | 0.0% | 1.0% | 1.9% | 2.7% | 22.5% | — | — |
| Shares Outstanding | — | $38M | $38M | $25M | $22M | $21M | $18M | $16M | $14M | $35M | $35M |
Negative equity and leverage
As reported in financial statements, Goosehead's valuation multiples, including a forward P/E of 21.36, suggest that investors are pricing in significant future growth, despite the company's negative book value which renders traditional P/B analysis ineffective for assessing the firm's underlying franchise quality.
The market appears to assign a tech-like growth premium to Goosehead, prioritizing top-line expansion over the traditional book value metrics typically used for insurance entities. Investors should monitor whether this valuation can be sustained if the company's negative equity position persists, as it may indicate that the market is valuing the platform's future commission streams rather than its current tangible capital base.
Based on recent SEC filings, the company achieved a combined ratio of 83.9% in 2026Q1, reflecting a notable improvement from the 91.2% reported in 2025Q1, which suggests that the centralized service model is successfully driving underwriting efficiency across the expanding franchise network.
The downward trend in the combined ratio indicates that the company is effectively managing its loss and expense ratios, likely through the scale benefits of its bifurcated sales and service model. This improvement warrants further investigation into whether these gains are structural or if they remain sensitive to potential spikes in claims-related costs or service center wage inflation.
According to reported figures, the company's balance sheet has entered a period of negative equity, with liabilities reaching $597.0M in 2026Q1, which indicates a highly leveraged position that deviates significantly from the capital adequacy standards typically expected of diversified insurance-related service providers.
The persistent negative equity position suggests that aggressive capital returns and accounting accruals are outpacing the firm's ability to retain earnings. This leverage profile appears to limit the company's financial flexibility, potentially leaving it vulnerable to market volatility or regulatory shifts that could necessitate a stronger capital cushion.
As noted in financial data, the price-to-book ratio is frequently misapplied to Goosehead, as the company's negative equity position renders the metric mathematically distorted and fundamentally disconnected from the firm's actual cash-generating capacity and its unique, asset-light franchise brokerage business model.
Investors should avoid relying on P/B as a valuation anchor for this firm, as it obscures the reality of the company's business model which relies on future commission streams rather than invested assets backing reserves. A more appropriate focus would be on the sustainability of recurring commission revenue and the efficiency of the franchise expansion, rather than traditional insurance balance sheet metrics.
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Quick answers to the most common questions about buying GSHD stock.
Goosehead Insurance, Inc's current P/E ratio is 53.5x. The historical average is 76.5x.
Goosehead Insurance, Inc's current EV/EBITDA is 19.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 54.9x.
Based on historical data, Goosehead Insurance, Inc is trading at a P/E of 53.5x. Compare with industry peers and growth rates for a complete picture.
Goosehead Insurance, Inc's current dividend yield is 6.88% with a payout ratio of 523.8%.
Goosehead Insurance, Inc has 46.2% gross margin and 20.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Goosehead Insurance, Inc's Debt/EBITDA ratio is 4.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.