Latest Ratios: P/E Ratio -35.5x · EV/EBITDA 15.5x · ROE -1.9%. (1996–2025 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 | $3.5B | $3.0B | $2.9B | $3.7B | $3.1B | $10.1B | $9.4B | $3.8B | $2.8B | $1.9B | $935M |
| Enterprise Value | $4.0B | $3.5B | $3.1B | $4.4B | $3.8B | $10.1B | $6.7B | $3.2B | $2.9B | $1.4B | $1.2B |
| P/E Ratio → | -35.49 | — | — | 14.46 | — | 16.93 | 34.77 | 164.78 | 11.27 | 52.00 | — |
| P/S Ratio | 1.47 | 1.27 | 0.77 | 0.85 | 0.60 | 2.74 | 3.40 | 1.51 | 1.10 | 0.58 | 0.54 |
| P/B Ratio | 0.76 | 0.63 | 0.47 | 0.55 | 0.48 | 1.31 | 1.27 | 1.24 | 0.77 | 0.84 | 0.50 |
| P/FCF | 78.31 | 67.65 | 10.18 | 77.09 | — | 217.13 | 100.08 | 24.17 | 8.84 | 5.66 | 9.88 |
| P/OCF | 54.83 | 47.37 | 8.30 | 19.59 | — | 74.11 | 60.76 | 15.04 | 7.53 | 4.63 | 7.74 |
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 | — | 1.46 | 0.82 | 1.02 | 0.72 | 2.73 | 2.44 | 1.27 | 1.15 | 0.44 | 0.69 |
| EV / EBITDA | 15.48 | 13.62 | 11.64 | 14.23 | — | 790.39 | — | 23.58 | 15.71 | 4.74 | 33.47 |
| EV / EBIT | — | — | — | 8.46 | — | 13.23 | 25.89 | 69.09 | 9.13 | 8.39 | — |
| EV / FCF | — | 78.04 | 10.76 | 92.15 | — | 216.22 | 71.80 | 20.38 | 9.25 | 4.24 | 12.77 |
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 | 66.8% | 66.8% | 72.2% | 69.2% | 63.1% | 65.0% | 73.0% | 78.2% | 80.2% | 80.3% | 78.0% |
| Operating Margin | -4.1% | -4.1% | -0.1% | -6.0% | -9.1% | -3.7% | -19.4% | 0.2% | 1.4% | 5.7% | -3.3% |
| Net Profit Margin | -4.3% | -4.3% | -14.2% | 6.1% | -22.4% | 16.2% | 9.8% | 0.9% | 9.7% | 9.2% | -10.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -1.9% | -1.9% | -8.2% | 4.0% | -16.3% | 7.9% | 5.2% | 0.7% | 8.4% | 14.7% | -10.0% |
| ROA | -1.2% | -1.2% | -5.4% | 2.6% | -10.3% | 5.6% | 4.1% | 0.4% | 4.9% | 7.8% | -3.7% |
| ROIC | -1.2% | -1.2% | -0.0% | -2.7% | -4.8% | -1.7% | -11.2% | 0.1% | 1.0% | 7.2% | -2.0% |
| ROCE | -1.3% | -1.3% | -0.0% | -2.8% | -4.7% | -1.4% | -9.0% | 0.1% | 0.8% | 5.7% | -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 | 0.30 | 0.30 | 0.31 | 0.30 | 0.31 | 0.27 | 0.10 | 0.08 | 0.62 | 0.12 | 0.86 |
| Debt / EBITDA | 5.55 | 5.55 | 7.36 | 6.48 | — | 162.37 | — | 1.81 | 12.19 | 0.89 | 44.40 |
| Net Debt / Equity | — | 0.10 | 0.03 | 0.11 | 0.10 | -0.01 | -0.36 | -0.19 | 0.04 | -0.21 | 0.15 |
| Net Debt / EBITDA | 1.81 | 1.81 | 0.63 | 2.33 | — | -3.32 | — | -4.39 | 0.69 | -1.59 | 7.57 |
| Debt / FCF | — | 10.39 | 0.58 | 15.07 | — | -0.91 | -28.28 | -3.79 | 0.41 | -1.42 | 2.89 |
| Interest Coverage | -0.73 | -0.73 | -3.44 | 3.33 | -12.85 | 22.30 | 16.10 | 3.88 | 24.40 | 1.64 | -0.53 |
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 | 2.75 | 2.75 | 2.80 | 2.36 | 2.37 | 2.23 | 5.49 | 2.10 | 3.13 | 2.23 | 2.58 |
| Quick Ratio | 2.75 | 2.75 | 2.80 | 2.36 | 2.37 | 2.20 | 5.49 | 2.10 | 2.95 | 2.23 | 2.58 |
| Cash Ratio | 1.71 | 1.71 | 2.03 | 1.52 | 1.53 | 1.55 | 4.78 | 1.43 | 2.55 | 1.60 | 1.99 |
| Asset Turnover | — | 0.34 | 0.40 | 0.42 | 0.50 | 0.30 | 0.30 | 0.61 | 0.37 | 1.04 | 0.38 |
| Inventory Turnover | — | — | — | — | — | 42.21 | 2351.31 | — | 3.16 | — | — |
| Days Sales Outstanding | — | 68.45 | 49.82 | 44.87 | 42.38 | 68.62 | 34.02 | 34.48 | 41.69 | 20.67 | 54.68 |
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 | — | — | — | 6.9% | — | 5.9% | 2.9% | 0.6% | 8.9% | 1.9% | — |
| FCF Yield | 1.3% | 1.5% | 9.8% | 1.3% | — | 0.5% | 1.0% | 4.1% | 11.3% | 17.7% | 10.1% |
| Buyback Yield | 9.0% | 10.4% | 1.0% | 4.8% | 3.0% | 0.3% | 0.7% | 0.9% | 0.0% | 2.9% | 26.1% |
| Total Shareholder Yield | 9.0% | 10.4% | 1.0% | 4.8% | 3.0% | 0.3% | 0.7% | 0.9% | 0.0% | 2.9% | 26.1% |
| Shares Outstanding | — | $78M | $83M | $86M | $86M | $95M | $91M | $85M | $85M | $88M | $81M |
Search traffic dependency
Based on current market data, IAC trades at a P/S of 1.39 and an EV/EBITDA of 14.78, suggesting that investors are applying a significant conglomerate discount that may fail to account for the potential monetization of proprietary data assets within the Dotdash Meredith portfolio.
The negative P/E of -33.68 reflects recent earnings volatility rather than a lack of cash-generating capability, as the company's SOTP valuation often diverges from headline multiples. Investors should monitor whether the market continues to penalize the complex corporate structure or if the potential for future spin-offs begins to drive a re-rating of the stub value.
According to quarterly financial reports, IAC's ROIC has struggled to maintain positive territory, hovering near -0.7% in 2026Q1, which indicates that the company's aggressive reinvestment into the Angi marketplace and digital integration efforts has yet to yield a sustainable return on invested capital.
The persistent decay in ROIC suggests that the capital deployed into marketplace liquidity and platform development is currently outpacing the incremental returns generated by these segments. This trend warrants further investigation into whether the company's capital allocation strategy is effectively prioritizing high-growth initiatives or merely subsidizing operational inefficiencies.
As reported in recent filings, IAC's asset turnover ratio remains low at 0.06, reflecting the capital-intensive nature of its digital and print publishing assets compared to the leaner, high-velocity marketplace models that management is attempting to scale within the broader portfolio.
The fluctuation in DSO, which reached 83 days in 2026Q1, suggests potential friction in the collection cycle for advertising and marketplace services. This variability in working capital efficiency may indicate that the company's diverse business units are not yet operating with the synchronized cash conversion cycle required to optimize liquidity.
Based on the most recent balance sheet data, IAC maintains a current ratio of 3.69, providing a substantial liquidity cushion that appears well-positioned to support ongoing operational requirements despite the recent contraction in the company's total asset base and persistent negative operating margins.
The absence of debt, as indicated by the zero D/E ratio in 2026Q1, provides a significant degree of financial flexibility that distinguishes IAC from more leveraged peers. This liquidity position appears sufficient to navigate potential downturns in advertising demand or further volatility in the home services labor market.
Investors frequently misapply the P/E ratio to IAC, as reported in financial analysis, which obscures the company's true earning power by failing to account for the non-recurring restructuring charges and the inherent volatility of its diverse, spin-off-oriented business model.
Because IAC functions as a holding company that frequently divests mature assets, the P/E ratio is often distorted by one-time gains or losses that do not reflect core operational performance. Analysts should instead focus on SOTP valuations or free cash flow yield to better assess the underlying value of the company's intent-capture ecosystem.
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Quick answers to the most common questions about buying IAC stock.
IAC InterActive Corp.'s current P/E ratio is -35.5x. The historical average is 17.6x.
IAC InterActive Corp.'s current EV/EBITDA is 15.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.9x.
IAC InterActive Corp.'s return on equity (ROE) is -1.9%. The historical average is 3.2%.
Based on historical data, IAC InterActive Corp. is trading at a P/E of -35.5x. Compare with industry peers and growth rates for a complete picture.
IAC InterActive Corp. has 66.8% gross margin and -4.1% operating margin.
IAC InterActive Corp.'s Debt/EBITDA ratio is 5.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.