Latest Ratios: P/E Ratio 32.3x · EV/EBITDA 17.6x · ROE 5.3%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $862M | $516M | $432M | $624M | $812M | $878M | $480M | $401M | $754M | $706M | $632M |
| Enterprise Value | $690M | $343M | $318M | $454M | $649M | $677M | $362M | $364M | $614M | $516M | $405M |
| P/E Ratio → | 32.28 | 19.49 | 23.60 | 13.39 | 8.58 | 9.58 | — | 9.41 | 12.24 | — | 17.98 |
| P/S Ratio | 1.28 | 0.77 | 0.66 | 0.93 | 1.08 | 1.20 | 0.95 | 0.57 | 1.11 | 1.24 | 1.14 |
| P/B Ratio | 1.67 | 1.01 | 0.89 | 1.20 | 1.59 | 1.84 | 1.12 | 0.76 | 1.51 | 1.50 | 1.33 |
| P/FCF | 16.14 | 9.65 | — | 9.13 | 17.25 | 7.03 | 7.36 | 21.00 | 10.05 | 14.60 | 12.11 |
| P/OCF | 14.88 | 8.90 | — | 8.13 | 14.94 | 6.71 | 7.02 | 12.51 | 8.75 | 12.90 | 10.81 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.51 | 0.49 | 0.68 | 0.86 | 0.92 | 0.71 | 0.52 | 0.90 | 0.91 | 0.73 |
| EV / EBITDA | 17.57 | 8.74 | 10.41 | 7.06 | 4.95 | 5.21 | 12.79 | 6.13 | 8.05 | 9.11 | 6.19 |
| EV / EBIT | 23.12 | 11.50 | 14.97 | 7.49 | 5.30 | 5.74 | — | 6.23 | 9.83 | 11.83 | 7.66 |
| EV / FCF | — | 6.42 | — | 6.64 | 13.79 | 5.42 | 5.55 | 19.06 | 8.19 | 10.68 | 7.77 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.2% | 54.2% | 54.0% | 55.1% | 57.7% | 57.2% | 53.4% | 53.5% | 54.4% | 52.5% | 53.3% |
| Operating Margin | 4.4% | 4.4% | 3.3% | 8.1% | 16.0% | 16.0% | 2.8% | 6.1% | 9.2% | 7.6% | 9.8% |
| Net Profit Margin | 4.0% | 4.0% | 2.8% | 6.9% | 12.6% | 12.5% | -22.0% | 6.1% | 9.1% | -2.7% | 6.3% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.3% | 5.3% | 3.7% | 9.1% | 19.1% | 20.2% | -23.2% | 8.3% | 12.7% | -3.2% | 7.7% |
| ROA | 3.6% | 3.6% | 2.5% | 6.0% | 12.2% | 12.4% | -14.2% | 5.3% | 8.8% | -2.4% | 5.9% |
| ROIC | 6.3% | 6.3% | 4.4% | 11.8% | 28.9% | 30.0% | 2.6% | 7.5% | 14.5% | 12.3% | 16.2% |
| ROCE | 4.8% | 4.8% | 3.3% | 8.4% | 19.2% | 19.6% | 2.1% | 6.2% | 10.4% | 8.0% | 10.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.11 | 0.11 | 0.20 | 0.18 | 0.17 | 0.16 | 0.25 | 0.28 | 0.10 | 0.05 | 0.06 |
| Debt / EBITDA | 1.48 | 1.48 | 3.10 | 1.43 | 0.68 | 0.59 | 3.73 | 2.51 | 0.66 | 0.44 | 0.46 |
| Net Debt / Equity | — | -0.34 | -0.24 | -0.33 | -0.32 | -0.42 | -0.28 | -0.07 | -0.28 | -0.40 | -0.48 |
| Net Debt / EBITDA | -4.39 | -4.39 | -3.72 | -2.64 | -1.24 | -1.54 | -4.18 | -0.62 | -1.83 | -3.35 | -3.46 |
| Debt / FCF | — | -3.23 | — | -2.48 | -3.46 | -1.61 | -1.81 | -1.94 | -1.86 | -3.93 | -4.34 |
| Interest Coverage | 58.83 | 58.83 | 43.49 | 122.13 | 236.34 | 171.54 | -71.68 | 62.83 | 81.07 | 28.91 | 36.15 |
Net cash position: cash ($231M) exceeds total debt ($58M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.58 | 4.58 | 4.34 | 4.81 | 3.98 | 3.66 | 3.93 | 4.25 | 4.15 | 4.80 | 7.07 |
| Quick Ratio | 3.17 | 3.17 | 2.95 | 3.50 | 2.68 | 2.60 | 2.73 | 2.68 | 2.69 | 3.29 | 4.92 |
| Cash Ratio | 2.04 | 2.04 | 1.85 | 2.32 | 1.77 | 1.83 | 1.75 | 1.70 | 1.69 | 2.14 | 3.59 |
| Asset Turnover | — | 0.90 | 0.90 | 0.87 | 0.95 | 0.96 | 0.70 | 0.83 | 0.89 | 0.88 | 0.91 |
| Inventory Turnover | 1.94 | 1.94 | 1.92 | 2.04 | 1.71 | 1.95 | 1.55 | 1.90 | 1.88 | 1.78 | 1.68 |
| Days Sales Outstanding | — | 55.48 | 57.50 | 62.86 | 51.06 | 49.59 | 73.36 | 40.82 | 45.13 | 53.40 | 44.14 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.6% | 6.0% | 7.2% | 8.5% | 3.9% | 2.5% | — | 4.6% | 2.4% | 1.7% | 1.9% |
| Payout Ratio | 116.9% | 116.9% | 169.2% | 113.8% | 33.2% | 24.0% | — | 43.1% | 30.0% | — | 34.0% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 5.1% | 4.2% | 7.5% | 11.7% | 10.4% | — | 10.6% | 8.2% | — | 5.6% |
| FCF Yield | 6.2% | 10.4% | — | 11.0% | 5.8% | 14.2% | 13.6% | 4.8% | 10.0% | 6.8% | 8.3% |
| Buyback Yield | 0.5% | 0.8% | 0.6% | 0.5% | 3.9% | 2.6% | 0.0% | 1.0% | 1.0% | 0.5% | 0.6% |
| Total Shareholder Yield | 4.1% | 6.8% | 7.8% | 9.0% | 7.7% | 5.1% | 0.0% | 5.6% | 3.4% | 2.2% | 2.5% |
| Shares Outstanding | — | $23M | $23M | $23M | $23M | $24M | $23M | $23M | $24M | $23M | $23M |
Consumer discretionary spending sensitivity
According to current market data, Movado trades at a P/E of 33.83, a multiple that appears disconnected from its low-single-digit growth, suggesting investors are either pricing in a significant turnaround or misinterpreting the company's underlying earnings power relative to its substantial net cash position.
The elevated P/E ratio warrants caution, as it likely overstates the valuation of the core operating business by failing to adjust for the $230 million cash balance. When viewed through an EV/EBITDA lens, the valuation appears more grounded, yet the persistent lack of a clear growth catalyst suggests that the market may be struggling to reconcile the brand's heritage with its current stagnant trajectory.
Based on reported financial statements, Movado's ROIC has struggled to break above 3% in recent quarters, a trend that highlights the difficulty of generating meaningful returns on invested capital within a business model heavily reliant on low-margin licensed fashion watches and high-cost retail distribution.
The low ROIC suggests that the company's capital allocation has not yet successfully pivoted toward higher-margin segments or digital-native growth. Investors should monitor whether management can improve these returns through better inventory management or if the current structural constraints will continue to suppress long-term value creation.
As indicated by the company's recent filings, the cash conversion cycle remains elevated, often exceeding 250 days, which reflects a heavy reliance on inventory and suggests that the company's working capital efficiency is significantly hampered by the slow turnover of its wholesale-heavy product portfolio.
The high days-inventory-outstanding (DIO) is particularly concerning, as it indicates that fashion-watch inventory is not moving as quickly as required to maintain optimal margins. This inefficiency forces the company to tie up significant capital in stock, which limits its ability to deploy cash toward more productive growth initiatives.
Based on the latest quarterly data, Movado maintains a robust current ratio of 4.56, a figure that underscores the company's defensive posture and provides a substantial liquidity cushion against the cyclical downturns and seasonal working capital swings inherent in the luxury watch industry.
This liquidity position is a clear strength, effectively insulating the company from the immediate refinancing risks that plague more leveraged peers. However, the persistence of such high liquidity may also suggest a lack of attractive investment opportunities, potentially inviting further scrutiny regarding the company's long-term capital deployment strategy.
As reported in financial disclosures, the P/E ratio is the most commonly misapplied metric for Movado, as it ignores the company's massive net cash position, which effectively masks the true, lower valuation of the core operating business and misleads investors regarding the company's actual earnings yield.
Analysts should prioritize EV/EBITDA or P/FCF metrics to better account for the cash-rich balance sheet, which is a structural feature of the company's conservative management style. Relying on P/E alone risks mischaracterizing the stock as expensive when the underlying operating business may actually be trading at a deep-value multiple.
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Quick answers to the most common questions about buying MOV stock.
Movado Group, Inc.'s current P/E ratio is 32.3x. The historical average is 17.2x. This places it at the 96th percentile of its historical range.
Movado Group, Inc.'s current EV/EBITDA is 17.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.9x.
Movado Group, Inc.'s return on equity (ROE) is 5.3%. The historical average is 7.4%.
Based on historical data, Movado Group, Inc. is trading at a P/E of 32.3x. This is at the 96th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Movado Group, Inc.'s current dividend yield is 3.64% with a payout ratio of 116.9%.
Movado Group, Inc. has 54.2% gross margin and 4.4% operating margin.
Movado Group, Inc.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.