Latest Ratios: P/E Ratio 13.9x · EV/EBITDA 7.3x · ROE 11.4%. (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 | $567M | $753M | $609M | $635M | $521M | $743M | $362M | $397M | $692M | $502M | $691M |
| Enterprise Value | $532M | $718M | $499M | $511M | $474M | $655M | $296M | $359M | $648M | $470M | $632M |
| P/E Ratio → | 13.90 | 18.33 | 31.40 | 19.55 | 4.16 | 11.16 | 19.08 | 70.79 | 19.09 | 22.32 | 18.58 |
| P/S Ratio | 0.88 | 1.16 | 1.15 | 0.98 | 0.63 | 1.26 | 0.77 | 0.87 | 1.53 | 1.29 | 1.65 |
| P/B Ratio | 1.54 | 2.03 | 1.73 | 1.66 | 1.34 | 2.46 | 1.37 | 1.61 | 2.86 | 2.25 | 3.08 |
| P/FCF | 29.92 | 39.72 | 15.58 | 5.70 | — | 14.19 | 7.38 | — | 19.47 | — | 16.62 |
| P/OCF | 20.88 | 27.71 | 10.46 | 4.47 | 91.84 | 10.64 | 6.45 | 60.09 | 12.82 | 24.71 | 12.66 |
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 | — | 1.11 | 0.94 | 0.79 | 0.57 | 1.11 | 0.63 | 0.79 | 1.43 | 1.21 | 1.51 |
| EV / EBITDA | 7.31 | 9.86 | 14.07 | 10.65 | 2.70 | 6.32 | 7.66 | 16.95 | 11.71 | 10.23 | 9.27 |
| EV / EBIT | 9.78 | 13.33 | 19.65 | 12.22 | 2.93 | 7.60 | 12.21 | 47.08 | 15.15 | 13.69 | 11.19 |
| EV / FCF | — | 37.89 | 12.77 | 4.59 | — | 12.51 | 6.03 | — | 18.24 | — | 15.20 |
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 | 14.4% | 14.4% | 9.4% | 10.1% | 23.9% | 20.6% | 11.8% | 6.6% | 15.6% | 15.4% | 20.4% |
| Operating Margin | 8.4% | 8.4% | 3.8% | 5.3% | 19.5% | 15.1% | 5.2% | 1.7% | 9.4% | 8.8% | 13.5% |
| Net Profit Margin | 6.3% | 6.3% | 3.6% | 5.0% | 15.1% | 11.3% | 4.0% | 1.2% | 8.0% | 5.8% | 8.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.4% | 11.4% | 5.3% | 8.4% | 36.1% | 23.5% | 7.4% | 2.3% | 15.6% | 10.1% | 17.5% |
| ROA | 9.3% | 9.3% | 4.4% | 7.1% | 29.0% | 18.3% | 6.0% | 1.8% | 11.8% | 7.8% | 13.5% |
| ROIC | 14.1% | 14.1% | 6.0% | 8.7% | 43.4% | 32.4% | 9.0% | 2.8% | 16.4% | 14.4% | 25.5% |
| ROCE | 14.1% | 14.1% | 5.2% | 8.6% | 44.1% | 29.4% | 8.9% | 2.9% | 17.1% | 14.3% | 25.0% |
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.00 | 0.01 | 0.00 | 0.01 | 0.01 | — | — | — | — |
| Debt / EBITDA | 0.05 | 0.05 | 0.05 | 0.04 | 0.01 | 0.02 | 0.07 | — | — | — | — |
| Net Debt / Equity | — | -0.09 | -0.31 | -0.32 | -0.12 | -0.29 | -0.25 | -0.16 | -0.18 | -0.14 | -0.26 |
| Net Debt / EBITDA | -0.48 | -0.48 | -3.10 | -2.58 | -0.27 | -0.85 | -1.71 | -1.80 | -0.79 | -0.70 | -0.86 |
| Debt / FCF | — | -1.83 | -2.81 | -1.11 | — | -1.68 | -1.35 | — | -1.24 | — | -1.42 |
| Interest Coverage | 1035.71 | 1035.71 | 285.12 | 480.94 | 1778.22 | 897.91 | 229.02 | 45.38 | 374.95 | 252.24 | 357.27 |
Net cash position: cash ($39M) exceeds total debt ($4M)
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 | 3.97 | 3.97 | 5.68 | 6.47 | 5.36 | 3.59 | 3.67 | 5.65 | 2.72 | 3.79 | 3.36 |
| Quick Ratio | 1.88 | 1.88 | 3.79 | 4.24 | 2.20 | 2.44 | 2.39 | 3.16 | 1.41 | 1.85 | 2.03 |
| Cash Ratio | 0.59 | 0.59 | 2.37 | 2.72 | 0.77 | 1.31 | 1.28 | 1.34 | 0.61 | 0.76 | 1.09 |
| Asset Turnover | — | 1.40 | 1.25 | 1.45 | 1.75 | 1.51 | 1.40 | 1.56 | 1.38 | 1.37 | 1.43 |
| Inventory Turnover | 4.02 | 4.02 | 5.40 | 5.65 | 3.18 | 5.93 | 6.04 | 6.01 | 4.06 | 4.02 | 4.68 |
| Days Sales Outstanding | — | 44.36 | 41.15 | 35.66 | 36.04 | 41.97 | 41.56 | 35.39 | 41.46 | 37.81 | 41.33 |
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 | 3.8% | 2.9% | 8.4% | 6.5% | 7.9% | 4.2% | 0.6% | 0.6% | 3.1% | 5.2% | 3.0% |
| Payout Ratio | 53.0% | 53.0% | 263.9% | 127.3% | 32.9% | 47.0% | 12.2% | 41.3% | 58.8% | 115.4% | 56.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.2% | 5.5% | 3.2% | 5.1% | 24.0% | 9.0% | 5.2% | 1.4% | 5.2% | 4.5% | 5.4% |
| FCF Yield | 3.3% | 2.5% | 6.4% | 17.6% | — | 7.0% | 13.5% | — | 5.1% | — | 6.0% |
| Buyback Yield | 0.4% | 0.3% | 0.3% | 0.4% | 0.2% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.2% | 3.2% | 8.7% | 6.9% | 8.1% | 4.2% | 0.6% | 0.6% | 3.1% | 5.2% | 3.0% |
| Shares Outstanding | — | $20M | $20M | $20M | $20M | $20M | $19M | $19M | $19M | $19M | $19M |
Commodity Input Price Volatility
Based on current market data, Insteel's TTM P/E of 14.54 appears to discount the cyclical nature of its earnings, yet the forward P/E of 18.67 suggests that investors are bracing for further margin compression as the company navigates a cooling domestic construction environment.
The valuation gap between Insteel and integrated peers like Nucor suggests the market views the company as a pure-play fabricator with limited pricing power. Investors should monitor whether the current P/S of 0.92 provides a sufficient margin of safety given the recent deceleration in revenue growth.
According to recent financial statements, ROIC has compressed from 4.9% in 2025Q3 to 1.4% in 2026Q2, indicating that the company is struggling to generate adequate returns on its invested capital as the metal spread narrows and manufacturing throughput remains below optimal levels.
The decay in ROIC suggests that the company's specialized manufacturing footprint is currently underutilized, failing to offset the high fixed costs inherent in steel fabrication. This trend warrants further investigation into whether management's organic investment strategy can restore historical return levels in a lower-demand environment.
As reported in quarterly filings, the cash conversion cycle has expanded from 71 days in 2025Q3 to 101 days in 2026Q2, primarily driven by rising inventory days, which suggests that the company is holding excess stock in a period of softening demand for reinforcement products.
The increase in DIO from 66 to 97 days over the same period implies that inventory is not moving through the system with historical velocity, potentially tying up liquidity. This inefficiency appears to be a structural drag on cash flow that may persist until construction activity accelerates.
Based on reported figures, the company maintains a current ratio of 3.71 as of 2026Q2, which, despite a decline in absolute cash levels, provides a substantial liquidity cushion that effectively insulates the firm from the immediate credit risks currently impacting more leveraged industrial manufacturing peers.
The near-zero debt-to-equity ratio of 0.01% is a strategic advantage, allowing the company to weather cyclical troughs without the pressure of debt service. While this conservative posture limits financial leverage, it appears to be a deliberate choice to maintain operational flexibility during periods of commodity price volatility.
The P/E ratio is frequently misapplied to Insteel, as it obscures the extreme volatility of the metal spread and the non-cash impacts of LIFO accounting, which can artificially deflate earnings during periods of rising input costs and inflate them when steel prices retreat.
Investors should prioritize EV/EBITDA or normalized free cash flow metrics to better assess the company's earning power through the cycle. Relying on P/E in this context may lead to erroneous conclusions about the company's valuation, as it fails to account for the cyclicality of the underlying commodity inputs.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying IIIN stock.
Insteel Industries, Inc.'s current P/E ratio is 13.9x. The historical average is 21.2x. This places it at the 43th percentile of its historical range.
Insteel Industries, Inc.'s current EV/EBITDA is 7.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.7x.
Insteel Industries, Inc.'s return on equity (ROE) is 11.4%. The historical average is 9.0%.
Based on historical data, Insteel Industries, Inc. is trading at a P/E of 13.9x. This is at the 43th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Insteel Industries, Inc.'s current dividend yield is 3.81% with a payout ratio of 53.0%.
Insteel Industries, Inc. has 14.4% gross margin and 8.4% operating margin.
Insteel Industries, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.