Latest Ratios: P/E Ratio 40.6x · EV/EBITDA 28.3x · ROE 39.7%. (1997–2025 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 | $12.1B | $8.0B | $4.1B | $1.3B | $577M | $963M | $670M | $439M | $413M | $373M | $382M |
| Enterprise Value | $12.2B | $8.1B | $4.0B | $1.3B | $689M | $1.0B | $648M | $420M | $417M | $374M | $379M |
| P/E Ratio → | 40.58 | 26.47 | 20.18 | 14.51 | 19.18 | 14.46 | 16.13 | 13.20 | — | 27.90 | 3.17 |
| P/S Ratio | 3.60 | 2.38 | 1.41 | 0.57 | 0.27 | 0.63 | 0.56 | 0.41 | 0.47 | 0.46 | 0.55 |
| P/B Ratio | 13.85 | 9.04 | 6.25 | 2.69 | 1.48 | 2.60 | 2.35 | 1.76 | 1.85 | 1.55 | 1.70 |
| P/FCF | 55.49 | 36.67 | 21.53 | 9.87 | — | 31.59 | 9.31 | 13.55 | 54.39 | 21.05 | 17.70 |
| P/OCF | 42.44 | 28.05 | 17.39 | 8.74 | 35.41 | 25.42 | 8.74 | 11.34 | 33.88 | 16.70 | 15.29 |
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 | — | 2.39 | 1.40 | 0.56 | 0.32 | 0.67 | 0.54 | 0.39 | 0.48 | 0.46 | 0.54 |
| EV / EBITDA | 28.28 | 18.71 | 11.94 | 7.03 | 8.46 | 9.51 | 10.36 | 8.17 | 11.95 | 12.49 | 12.35 |
| EV / EBIT | 31.74 | 20.38 | 13.20 | 8.23 | 12.36 | 11.91 | 12.99 | 10.08 | 16.02 | 18.22 | 15.33 |
| EV / FCF | — | 36.81 | 21.33 | 9.77 | — | 33.53 | 9.00 | 12.97 | 54.82 | 21.11 | 17.53 |
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 | 25.5% | 25.5% | 24.2% | 18.7% | 14.7% | 18.7% | 19.1% | 16.9% | 17.1% | 17.3% | 18.2% |
| Operating Margin | 11.4% | 11.4% | 10.4% | 6.7% | 2.6% | 5.6% | 4.2% | 3.9% | 3.0% | 2.5% | 3.6% |
| Net Profit Margin | 9.1% | 9.1% | 7.6% | 4.6% | 1.6% | 4.3% | 3.5% | 3.1% | -1.6% | 1.7% | 17.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 39.7% | 39.7% | 38.0% | 24.3% | 9.1% | 20.3% | 15.6% | 14.0% | -6.1% | 5.8% | 74.0% |
| ROA | 21.5% | 21.5% | 19.7% | 11.3% | 4.1% | 10.0% | 8.3% | 7.7% | -3.4% | 3.3% | 39.0% |
| ROIC | 37.5% | 37.5% | 41.0% | 24.2% | 9.0% | 18.5% | 15.2% | 13.7% | 8.3% | 6.6% | 13.3% |
| ROCE | 45.6% | 45.6% | 46.2% | 28.7% | 11.3% | 22.1% | 17.6% | 16.5% | 9.8% | 7.6% | 13.2% |
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 | 0.18 | 0.18 | 0.10 | 0.12 | 0.35 | 0.22 | 0.11 | 0.00 | 0.13 | 0.12 | 0.13 |
| Debt / EBITDA | 0.37 | 0.37 | 0.18 | 0.33 | 1.68 | 0.77 | 0.51 | 0.01 | 0.85 | 0.98 | 0.95 |
| Net Debt / Equity | — | 0.03 | -0.06 | -0.03 | 0.29 | 0.16 | -0.08 | -0.07 | 0.01 | 0.00 | -0.02 |
| Net Debt / EBITDA | 0.07 | 0.07 | -0.11 | -0.07 | 1.38 | 0.55 | -0.35 | -0.36 | 0.10 | 0.04 | -0.12 |
| Debt / FCF | — | 0.14 | -0.20 | -0.10 | — | 1.94 | -0.30 | -0.58 | 0.44 | 0.06 | -0.17 |
| Interest Coverage | 217.87 | 217.87 | 228.49 | 53.46 | 18.78 | 89.26 | 64.25 | 22.44 | 13.36 | 12.05 | 19.27 |
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 | 1.71 | 1.71 | 1.67 | 1.68 | 1.55 | 1.55 | 1.53 | 1.53 | 1.60 | 1.54 | 1.58 |
| Quick Ratio | 1.54 | 1.54 | 1.47 | 1.44 | 1.31 | 1.33 | 1.43 | 1.42 | 1.47 | 1.43 | 1.48 |
| Cash Ratio | 0.37 | 0.37 | 0.26 | 0.19 | 0.06 | 0.07 | 0.22 | 0.10 | 0.16 | 0.19 | 0.25 |
| Asset Turnover | — | 2.11 | 2.32 | 2.42 | 2.32 | 2.00 | 2.12 | 2.42 | 2.08 | 1.91 | 1.76 |
| Inventory Turnover | 22.52 | 22.52 | 21.51 | 20.20 | 19.18 | 18.21 | 38.69 | 41.54 | 34.67 | 39.60 | 42.99 |
| Days Sales Outstanding | — | 78.09 | 78.43 | 75.14 | 82.18 | 88.24 | 86.99 | 83.15 | 86.31 | 80.03 | 83.94 |
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 | 2.5% | 3.8% | 5.0% | 6.9% | 5.2% | 6.9% | 6.2% | 7.6% | — | 3.6% | 31.6% |
| FCF Yield | 1.8% | 2.7% | 4.6% | 10.1% | — | 3.2% | 10.7% | 7.4% | 1.8% | 4.8% | 5.6% |
| Buyback Yield | 0.3% | 0.5% | 1.1% | 0.6% | 3.2% | 0.7% | 1.1% | 2.2% | 0.5% | 0.6% | 0.2% |
| Total Shareholder Yield | 0.3% | 0.5% | 1.1% | 0.6% | 3.2% | 0.7% | 1.1% | 2.2% | 0.5% | 0.6% | 0.2% |
| Shares Outstanding | — | $20M | $20M | $20M | $21M | $21M | $21M | $21M | $21M | $22M | $21M |
Cyclical residential market exposure
Based on current market data, IESC trades at a trailing P/E of 47.60, which appears to price in significant future earnings expansion relative to the broader engineering and construction sector, as investors increasingly value the company's specialized exposure to hyperscale data center infrastructure projects.
The forward P/E of 36.31 suggests that the market anticipates a meaningful acceleration in earnings, likely driven by the Communications segment's integration into AI-related capital expenditure cycles. While the P/S ratio of 4.22 is elevated compared to traditional generalist contractors, it may be justified if the company continues to shift its revenue mix toward higher-margin, mission-critical technical services.
According to quarterly financial reports, IESC's ROIC has fluctuated between 7.9% and 12.0% over the last ten quarters, indicating that the company is successfully maintaining disciplined returns even while aggressively expanding its asset base to support new technical service offerings and manufacturing capabilities.
The trend in ROIC suggests that management is effectively deploying capital into projects that meet or exceed their cost of capital, despite the inherent volatility of project-based revenue. Investors should monitor whether the recent increase in property, plant, and equipment continues to yield commensurate returns as these new assets reach full operational capacity.
As reported in recent filings, IESC's asset turnover has remained relatively stable between 0.53 and 0.68, reflecting the company's transition toward a more capital-intensive model as it scales its specialized infrastructure and manufacturing segments to meet rising demand for complex network environments.
The cash conversion cycle, which has seen notable quarterly variance, highlights the sensitivity of the company's liquidity to project-based billing and inventory management. While the DSO remains within a manageable range, the fluctuations in DPO suggest that the company is actively managing its supplier relationships to optimize cash flow during periods of high project activity.
Based on reported financial figures, IESC maintains a remarkably low debt-to-equity ratio of 0.10 as of 2026Q2, which provides a significant buffer against macro-economic volatility and allows the company to pursue opportunistic acquisitions without the burden of high interest coverage requirements.
The company's ability to maintain such low leverage while scaling operations is a key differentiator from peers who often carry higher debt loads to fund growth. This financial flexibility appears to be a strategic choice by management, likely intended to preserve capital for bolt-on acquisitions that enhance the company's technical capabilities.
The most commonly misapplied metric for IESC is the P/E ratio, which obscures the company's structural transition from a cyclical residential contractor to a specialized technology infrastructure provider, thereby leading to an inaccurate assessment of its long-term earnings power and growth trajectory.
By treating IESC as a pure-play residential construction firm, analysts may overlook the higher-margin, recurring nature of the Communications and Infrastructure Solutions segments. A more appropriate approach would involve a sum-of-the-parts valuation that assigns a premium multiple to the data center-exposed segments, rather than applying a single, cyclically-depressed multiple to the entire enterprise.
Includes 30+ ratios · 29 years · Updated daily
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Quick answers to the most common questions about buying IESC stock.
IES Holdings, Inc.'s current P/E ratio is 40.6x. The historical average is 40.0x. This places it at the 85th percentile of its historical range.
IES Holdings, Inc.'s current EV/EBITDA is 28.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.5x.
IES Holdings, Inc.'s return on equity (ROE) is 39.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -3.2%.
Based on historical data, IES Holdings, Inc. is trading at a P/E of 40.6x. This is at the 85th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
IES Holdings, Inc. has 25.5% gross margin and 11.4% operating margin. Operating margin between 10-20% is typical for established companies.
IES Holdings, Inc.'s Debt/EBITDA ratio is 0.4x, indicating low leverage. A ratio below 2x is generally considered financially healthy.