Latest Ratios: P/E Ratio -111.7x · EV/EBITDA 14.4x · ROE -0.2%. (2018–2025 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 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $566M | $872M | $613M | $966M | $1.3B | $1.9B | $510M | — | — |
| Enterprise Value | $913M | $1.2B | $881M | $1.2B | $1.4B | $1.9B | $652M | — | — |
| P/E Ratio → | -111.71 | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.68 | 1.05 | 0.88 | 1.55 | 2.42 | 3.45 | 1.55 | — | — |
| P/B Ratio | 1.22 | 1.93 | 1.37 | 3.01 | 4.21 | 5.95 | 3.72 | — | — |
| P/FCF | 6.21 | 9.57 | 679.91 | 41.82 | 123.78 | 62.82 | — | — | — |
| P/OCF | 5.26 | 8.11 | 27.58 | 17.24 | 63.82 | 50.14 | 275.78 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.47 | 1.27 | 1.85 | 2.63 | 3.56 | 1.99 | — | — |
| EV / EBITDA | 14.38 | 19.20 | 31.92 | 41.84 | 49.74 | 44.67 | 45.69 | — | — |
| EV / EBIT | 72.36 | 39.62 | — | — | — | — | — | — | — |
| EV / FCF | — | 13.38 | 977.10 | 49.92 | 134.32 | 64.78 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 34.1% | 34.1% | 39.9% | 38.5% | 35.4% | 32.5% | 34.3% | 29.9% | 28.6% |
| Operating Margin | 1.5% | 1.5% | -5.3% | -4.6% | -5.1% | -1.7% | -7.0% | -8.5% | -5.6% |
| Net Profit Margin | -0.1% | -0.1% | -8.9% | -4.9% | -5.8% | -4.6% | -17.7% | -10.1% | -8.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.2% | -0.2% | -16.2% | -9.7% | -10.1% | -11.2% | -48.4% | -21.5% | -14.2% |
| ROA | -0.1% | -0.1% | -6.9% | -3.8% | -3.9% | -3.5% | -12.4% | -8.3% | -7.0% |
| ROIC | 1.3% | 1.3% | -4.5% | -4.6% | -5.2% | -2.2% | -6.6% | -6.9% | -4.3% |
| ROCE | 1.5% | 1.5% | -4.8% | -4.1% | -4.1% | -1.6% | -6.1% | -8.8% | -5.5% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.80 | 0.80 | 0.63 | 0.65 | 0.65 | 0.65 | 1.28 | 1.48 | 0.63 |
| Debt / EBITDA | 5.65 | 5.65 | 10.18 | 7.63 | 7.03 | 4.73 | 12.33 | 19.56 | 5.52 |
| Net Debt / Equity | — | 0.77 | 0.60 | 0.58 | 0.36 | 0.19 | 1.03 | 1.42 | 0.61 |
| Net Debt / EBITDA | 5.47 | 5.47 | 9.71 | 6.79 | 3.91 | 1.36 | 9.92 | 18.73 | 5.33 |
| Debt / FCF | — | 3.82 | 297.19 | 8.10 | 10.55 | 1.97 | — | 11.82 | — |
| Interest Coverage | 1.57 | 1.57 | -2.42 | -3.09 | -4.64 | -1.03 | -3.13 | -2.95 | -0.94 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.43 | 1.43 | 1.50 | 1.59 | 2.22 | 1.99 | 1.20 | 1.00 | 1.27 |
| Quick Ratio | 1.42 | 1.42 | 1.48 | 1.56 | 2.19 | 1.97 | 1.18 | 0.97 | 1.26 |
| Cash Ratio | 0.07 | 0.07 | 0.08 | 0.18 | 0.81 | 0.99 | 0.31 | 0.09 | 0.06 |
| Asset Turnover | — | 0.85 | 0.70 | 0.76 | 0.69 | 0.66 | 0.54 | 0.70 | 0.81 |
| Inventory Turnover | 208.42 | 208.42 | 149.68 | 100.52 | 96.88 | 151.30 | 86.51 | 69.25 | 180.85 |
| Days Sales Outstanding | — | 94.14 | 110.58 | 95.91 | 99.10 | 92.96 | 103.06 | 94.80 | 94.56 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.8% | 0.5% | 1.8% | 1.7% | 1.2% | 0.9% | 1.4% | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | 16.1% | 10.5% | 0.1% | 2.4% | 0.8% | 1.6% | — | — | — |
| Buyback Yield | 21.6% | 14.0% | 0.0% | 0.0% | 0.0% | 0.0% | 25.8% | — | — |
| Total Shareholder Yield | 22.4% | 14.5% | 1.8% | 1.7% | 1.2% | 0.9% | 27.2% | — | — |
| Shares Outstanding | — | $35M | $33M | $30M | $30M | $27M | $16M | $25M | $21M |
Acquisition Integration Margin Dilution
Based on current market data, MEG trades at a forward P/E of 122.09, which appears to reflect aggressive growth expectations that are currently unsupported by the firm's persistent net losses and the lack of a meaningful PEG ratio in recent financial disclosures.
The valuation premium suggests investors are pricing in a rapid transition to profitability that has yet to materialize in the GAAP results. Given the negative TTM P/E, the market appears to be valuing the company as a high-growth technology platform rather than an industrial services firm, which warrants caution if the acquisition-led growth slows.
As reported in financial statements, MEG's ROIC has struggled to remain in positive territory, averaging near -0.7% in 2026Q1, which indicates that the company is currently failing to generate returns on invested capital that exceed its cost of funding.
The persistent inability to generate positive returns on capital suggests that the acquisition strategy is currently value-destructive rather than compounding. Investors should monitor whether management can shift focus from top-line expansion to improving the efficiency of existing assets to reverse this trend.
According to quarterly data, MEG's cash conversion cycle remains erratic, with DSO fluctuating significantly around the 100-day mark, suggesting that the firm faces structural challenges in managing its receivables across a diverse and fragmented portfolio of environmental service projects.
The high DSO relative to industry peers implies that the company may be granting overly generous payment terms to secure contracts, which ties up liquidity. This inefficiency in working capital management exacerbates the firm's reliance on external financing to fund its ongoing operations.
As evidenced by the company's financial data, the current ratio has declined to 1.84 in 2026Q1, while cash reserves have dwindled, indicating that the firm's liquidity position is becoming increasingly vulnerable to operational shocks or unexpected delays in project-based revenue collection.
The narrowing liquidity buffer leaves little room for error, particularly given the company's history of lumpy cash flows and high integration costs. If the firm cannot stabilize its operating cash flow, it may face increased pressure to raise capital, potentially leading to further shareholder dilution.
Based on reported figures, the market's heavy reliance on Adjusted EBITDA as a primary valuation metric for MEG obscures the significant economic costs of stock-based compensation and acquisition-related integration expenses that consistently depress the firm's actual bottom-line profitability.
Investors should prioritize free cash flow and GAAP net income to assess the true sustainability of the business model. Relying solely on Adjusted EBITDA risks ignoring the reality that the company is currently burning cash to maintain its growth trajectory, which is not a sustainable long-term strategy.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying MEG stock.
Montrose Environmental Group, Inc.'s current P/E ratio is -111.7x. This places it at the 50th percentile of its historical range.
Montrose Environmental Group, Inc.'s current EV/EBITDA is 14.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 38.8x.
Montrose Environmental Group, Inc.'s return on equity (ROE) is -0.2%. The historical average is -16.4%.
Based on historical data, Montrose Environmental Group, Inc. is trading at a P/E of -111.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Montrose Environmental Group, Inc.'s current dividend yield is 0.76%.
Montrose Environmental Group, Inc. has 34.1% gross margin and 1.5% operating margin.
Montrose Environmental Group, Inc.'s Debt/EBITDA ratio is 5.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.