Latest Ratios: P/E Ratio 36.2x · EV/EBITDA 8.0x · ROE 3.1%. (2012–2025 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 | $599M | $481M | $556M | $693M | $507M | $550M | $344M | $424M | $494M | $497M | $363M |
| Enterprise Value | $658M | $539M | $772M | $931M | $638M | $509M | $397M | $501M | $456M | $462M | $318M |
| P/E Ratio → | 36.22 | 28.28 | 27.14 | 12.45 | 16.21 | 9.71 | 19.07 | 13.42 | 29.52 | 14.56 | 16.38 |
| P/S Ratio | 0.40 | 0.32 | 0.32 | 0.38 | 0.38 | 0.43 | 0.29 | 0.36 | 0.46 | 0.53 | 0.43 |
| P/B Ratio | 1.08 | 0.84 | 1.03 | 1.32 | 1.12 | 1.24 | 0.91 | 1.15 | 1.39 | 1.45 | 1.12 |
| P/FCF | 3.99 | 3.20 | 20.47 | — | — | 6.06 | 10.11 | — | 36.13 | 39.81 | 165.11 |
| P/OCF | 3.26 | 2.62 | 7.59 | — | — | 4.23 | 4.73 | — | 12.29 | 10.63 | 9.86 |
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 | — | 0.36 | 0.45 | 0.51 | 0.47 | 0.39 | 0.33 | 0.42 | 0.43 | 0.50 | 0.38 |
| EV / EBITDA | 7.97 | 6.54 | 8.85 | 7.75 | 7.78 | 5.11 | 6.32 | 7.48 | 6.64 | 6.90 | 6.40 |
| EV / EBIT | 14.44 | 13.16 | 16.08 | 10.23 | 13.75 | 7.05 | 13.44 | 11.76 | 10.07 | 10.38 | 10.68 |
| EV / FCF | — | 3.59 | 28.46 | — | — | 5.61 | 11.67 | — | 33.34 | 37.04 | 144.32 |
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 | 7.0% | 7.0% | 8.2% | 8.6% | 7.8% | 9.1% | 7.0% | 7.5% | 8.0% | 8.1% | 7.7% |
| Operating Margin | 3.1% | 3.1% | 2.9% | 4.8% | 3.9% | 5.1% | 2.7% | 3.2% | 4.0% | 4.6% | 3.5% |
| Net Profit Margin | 1.1% | 1.1% | 1.2% | 3.1% | 2.3% | 4.4% | 1.5% | 2.7% | 1.6% | 3.7% | 2.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.1% | 3.1% | 3.9% | 11.4% | 7.0% | 13.8% | 4.9% | 8.7% | 4.8% | 10.3% | 7.0% |
| ROA | 1.5% | 1.5% | 1.7% | 4.9% | 3.4% | 7.1% | 2.4% | 4.6% | 2.9% | 6.4% | 4.5% |
| ROIC | 4.9% | 4.9% | 4.9% | 9.8% | 8.0% | 11.8% | 5.5% | 7.5% | 10.2% | 11.0% | 8.5% |
| ROCE | 5.7% | 5.7% | 6.1% | 12.4% | 9.2% | 12.9% | 6.5% | 8.8% | 11.5% | 12.5% | 9.0% |
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 | 0.26 | 0.26 | 0.55 | 0.54 | 0.40 | 0.15 | 0.31 | 0.34 | 0.02 | 0.03 | 0.03 |
| Debt / EBITDA | 1.78 | 1.78 | 3.38 | 2.34 | 2.20 | 0.66 | 1.88 | 1.89 | 0.12 | 0.15 | 0.18 |
| Net Debt / Equity | — | 0.10 | 0.40 | 0.46 | 0.29 | -0.09 | 0.14 | 0.21 | -0.11 | -0.10 | -0.14 |
| Net Debt / EBITDA | 0.71 | 0.71 | 2.48 | 1.99 | 1.60 | -0.40 | 0.85 | 1.15 | -0.55 | -0.52 | -0.92 |
| Debt / FCF | — | 0.39 | 7.99 | — | — | -0.44 | 1.56 | — | -2.78 | -2.77 | -20.79 |
| Interest Coverage | 2.78 | 2.78 | 1.77 | 4.32 | 10.90 | 33.36 | 6.69 | 10.46 | 85.96 | 164.30 | 371.52 |
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 | 2.20 | 2.20 | 2.26 | 1.96 | 1.86 | 1.94 | 2.05 | 2.02 | 1.91 | 1.95 | 2.07 |
| Quick Ratio | 1.34 | 1.34 | 1.36 | 1.01 | 0.89 | 1.27 | 1.24 | 1.28 | 1.03 | 1.22 | 1.31 |
| Cash Ratio | 0.28 | 0.28 | 0.21 | 0.09 | 0.12 | 0.36 | 0.24 | 0.18 | 0.20 | 0.22 | 0.31 |
| Asset Turnover | — | 1.38 | 1.42 | 1.45 | 1.30 | 1.59 | 1.55 | 1.55 | 1.76 | 1.68 | 1.65 |
| Inventory Turnover | 5.05 | 5.05 | 4.66 | 3.70 | 3.15 | 5.86 | 5.10 | 5.36 | 4.89 | 5.91 | 5.85 |
| Days Sales Outstanding | — | 72.29 | 76.35 | 77.46 | 77.61 | 70.42 | 76.15 | 85.70 | 59.09 | 66.57 | 64.87 |
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 | 2.8% | 3.5% | 3.7% | 8.0% | 6.2% | 10.3% | 5.2% | 7.5% | 3.4% | 6.9% | 6.1% |
| FCF Yield | 25.1% | 31.2% | 4.9% | — | — | 16.5% | 9.9% | — | 2.8% | 2.5% | 0.6% |
| Buyback Yield | 2.0% | 2.5% | 0.5% | 0.2% | 1.8% | 0.5% | 2.6% | 5.5% | 1.9% | 4.6% | 3.7% |
| Total Shareholder Yield | 2.0% | 2.5% | 0.5% | 0.2% | 1.8% | 0.5% | 2.6% | 5.5% | 1.9% | 4.6% | 3.7% |
| Shares Outstanding | — | $25M | $25M | $25M | $25M | $25M | $25M | $26M | $27M | $28M | $29M |
Automotive cyclical demand exposure
According to current market data, Kimball Electronics trades at a P/E of 36.03, which appears elevated relative to its historical norms and suggests that investors are pricing in a recovery despite the recent 13.29% year-over-year revenue contraction reported in the company's latest financial filings.
The forward P/E of 16.81 implies a significant expectation of earnings normalization, yet this valuation remains sensitive to the company's ability to expand margins from their current thin levels. Investors should monitor whether the current EV/EBITDA multiple of 7.93 adequately compensates for the volatility inherent in the automotive-heavy revenue mix.
Based on reported figures, ROIC has remained consistently low, hovering near 1.5% in recent quarters, which indicates that Kimball Electronics is struggling to generate returns above its cost of capital while navigating a period of significant manufacturing footprint expansion and cyclical demand headwinds in its core segments.
The persistent gap between ROIC and the company's historical performance suggests that the current asset base is under-utilized, likely due to the recent revenue decline. Unless management can improve fixed-cost absorption, the company may continue to face challenges in compounding shareholder value through its existing capital allocation strategy.
As reported in recent financial statements, the cash conversion cycle has fluctuated between 81 and 122 days over the last ten quarters, reflecting the inherent difficulty in managing inventory and receivables during periods of shifting demand within the high-mix, low-volume manufacturing model utilized by the company.
The recent DIO trend suggests that inventory management remains a critical lever for liquidity, yet the company's reliance on pass-through components complicates these efficiency metrics. Analysts should scrutinize whether the current CCC levels are structural or merely a temporary byproduct of the ongoing program transitions and automotive sector softening.
Based on a comparison with industry peers like Plexus and Benchmark Electronics, Kimball Electronics trades at a distinct valuation discount, which appears to be driven by its higher exposure to automotive cycles compared to the more diversified, healthcare-oriented revenue streams of its direct competitors.
While the company's low debt-to-equity ratio of 0.06 provides a defensive advantage, the market appears to reward peers with higher ROIC profiles and more stable margin structures. This suggests that the valuation gap may be structural rather than temporary, reflecting the market's skepticism regarding the company's ability to pivot toward higher-margin medical assemblies.
The P/E ratio is frequently misapplied to Kimball Electronics, as it obscures the impact of pass-through revenue and the high variability of operating margins, which are better captured by analyzing EV/EBITDA or free cash flow yields in the context of the company's specific manufacturing model.
Investors should prioritize cash flow metrics over earnings-based multiples, as the latter are heavily influenced by non-recurring items and accounting nuances related to customer-owned tooling. Relying on P/E in this sector may lead to an inaccurate assessment of the company's true earning power during cyclical troughs.
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Quick answers to the most common questions about buying KE stock.
Kimball Electronics, Inc.'s current P/E ratio is 36.2x. The historical average is 18.5x. This places it at the 100th percentile of its historical range.
Kimball Electronics, Inc.'s current EV/EBITDA is 8.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.9x.
Kimball Electronics, Inc.'s return on equity (ROE) is 3.1%. The historical average is 8.1%.
Based on historical data, Kimball Electronics, Inc. is trading at a P/E of 36.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kimball Electronics, Inc. has 7.0% gross margin and 3.1% operating margin.
Kimball Electronics, Inc.'s Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.