Latest Ratios: P/E Ratio 14.3x · EV/EBITDA 3.0x · ROE 3.2%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $196M | $234M | — | — | — |
| Enterprise Value | $345M | $384M | — | — | — |
| P/E Ratio → | 14.28 | 16.55 | — | — | — |
| P/S Ratio | 0.55 | 0.66 | — | — | — |
| P/B Ratio | 0.21 | 0.24 | — | — | — |
| P/FCF | — | — | — | — | — |
| P/OCF | 0.75 | 0.89 | — | — | — |
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 |
|---|---|---|---|---|---|
| EV / Revenue | — | 1.08 | — | — | — |
| EV / EBITDA | 2.99 | 3.32 | — | — | — |
| EV / EBIT | 29.03 | 32.28 | — | — | — |
| EV / FCF | — | — | — | — | — |
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 |
|---|---|---|---|---|---|
| Gross Margin | 46.4% | 46.4% | 52.1% | 47.0% | 75.7% |
| Operating Margin | 3.3% | 3.3% | 36.2% | 32.6% | 66.7% |
| Net Profit Margin | 6.7% | 6.7% | 19.0% | 53.6% | 47.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 3.2% | 3.2% | 10.2% | 28.5% | 45.6% |
| ROA | 2.2% | 2.2% | 6.1% | 18.1% | 25.5% |
| ROIC | 0.9% | 0.9% | 10.1% | 9.4% | — |
| ROCE | 1.2% | 1.2% | 13.3% | 12.5% | 45.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.16 | 0.16 | 0.51 | 0.38 | 0.39 |
| Debt / EBITDA | 1.31 | 1.31 | 1.56 | 1.62 | 0.52 |
| Net Debt / Equity | — | 0.15 | 0.51 | 0.37 | 0.39 |
| Net Debt / EBITDA | 1.30 | 1.30 | 1.54 | 1.60 | 0.51 |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | 0.00 | 0.00 | 3.29 | 8.28 | 27.47 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 1.57 | 1.57 | 0.64 | 1.24 | 0.51 |
| Quick Ratio | 1.57 | 1.57 | 0.64 | 1.24 | 0.51 |
| Cash Ratio | 0.02 | 0.02 | 0.02 | 0.03 | 0.01 |
| Asset Turnover | — | 0.29 | 0.28 | 0.23 | 0.54 |
| Inventory Turnover | — | — | — | — | — |
| Days Sales Outstanding | — | 69.38 | 100.81 | 99.52 | 56.91 |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 7.0% | 6.0% | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.6% | 0.5% | — | — | — |
| Total Shareholder Yield | 0.6% | 0.5% | — | — | — |
| Shares Outstanding | — | $16M | $13M | $59M | $59M |
Thin liquidity and volatility
Based on recent financial data, INR trades at a forward P/E of 3.89 and an EV/EBITDA of 0.78, suggesting that the market is heavily discounting the company's future earnings potential relative to the broader Appalachian peer group's valuation multiples.
The significant gap between the trailing P/E of 14.61 and the forward multiple implies that investors are pricing in a rapid, albeit highly uncertain, recovery in earnings. This valuation profile suggests that the market remains skeptical of the company's ability to convert its liquids-rich acreage into sustained, high-margin cash flow.
As reported in recent quarterly filings, INR's ROIC has fluctuated wildly, reaching 90.2% in 2026Q1 after periods of negative returns, which indicates that the company's ability to compound capital is currently driven more by accounting volatility than by consistent operational efficiency.
The extreme swings in return on invested capital suggest that the company's drilling program is not yet generating a stable, predictable return profile. Investors should monitor whether these returns can stabilize as the company matures its Utica Shale assets, as current levels appear unsustainable.
According to historical data, INR's asset turnover remains low at 0.25, reflecting the capital-intensive nature of its Appalachian operations and the significant time lag between initial drilling expenditures and the realization of revenue from its liquids-rich production assets.
The company's inability to optimize its cash conversion cycle, evidenced by inconsistent DSO and DPO trends, suggests that operational leverage is currently working against the firm. This inefficiency forces a reliance on external capital or cash reserves that the company currently lacks.
Based on reported figures, INR has achieved a debt-to-equity ratio of zero as of 2026Q1, which appears to be a strategic effort to clean the balance sheet despite the company's persistent inability to generate positive free cash flow from its core operations.
While the lack of debt reduces interest coverage risk, the company's negligible cash balance of $2.2M leaves it with virtually no margin for error in a volatile commodity price environment. This structure suggests that the company is effectively operating on a 'just-in-time' basis that warrants extreme caution.
Investors frequently misapply the P/E ratio to INR, which obscures the company's true economic health by ignoring the massive non-cash DD&A charges that are inherent to the E&P business model and the company's specific asset acquisition history.
A more appropriate metric for this business model would be EV/EBITDA or PV-10 reserve valuation, as these account for the capital-intensive nature of shale development and the underlying value of the reserves. Relying on P/E in this context likely leads to a distorted view of the company's actual earning power.
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Quick answers to the most common questions about buying INR stock.
Infinity Natural Resources, Inc.'s current P/E ratio is 14.3x. The historical average is 16.6x.
Infinity Natural Resources, Inc.'s current EV/EBITDA is 3.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 3.3x.
Infinity Natural Resources, Inc.'s return on equity (ROE) is 3.2%. The historical average is 21.9%.
Based on historical data, Infinity Natural Resources, Inc. is trading at a P/E of 14.3x. Compare with industry peers and growth rates for a complete picture.
Infinity Natural Resources, Inc. has 46.4% gross margin and 3.3% operating margin.
Infinity Natural Resources, Inc.'s Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.