Latest Ratios: P/E Ratio 82.0x · EV/EBITDA 11.7x · ROE 2.3%. (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 | $1.4B | $928M | $1.3B | $1.7B | $1.6B | $1.4B | $1.4B | $1.2B | $893M | $1.1B | $761M |
| Enterprise Value | $1.4B | $885M | $1.3B | $1.7B | $1.5B | $1.4B | $1.4B | $1.2B | $836M | $1.1B | $769M |
| P/E Ratio → | 82.00 | 54.19 | 47.30 | 24.40 | 14.65 | 16.82 | 20.51 | 19.36 | 16.10 | 12.30 | 22.73 |
| P/S Ratio | 1.59 | 1.05 | 1.32 | 1.51 | 1.28 | 1.47 | 1.64 | 1.40 | 1.13 | 1.59 | 1.13 |
| P/B Ratio | 1.83 | 1.21 | 1.66 | 2.26 | 2.30 | 2.20 | 2.31 | 1.98 | 1.55 | 2.12 | 1.74 |
| P/FCF | — | — | — | — | 37.82 | — | 86.60 | — | — | — | — |
| P/OCF | 15.03 | 9.92 | 9.43 | 10.39 | 7.39 | 8.36 | 7.56 | 7.57 | 5.93 | 9.13 | 5.70 |
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 | — | 1.00 | 1.30 | 1.46 | 1.22 | 1.41 | 1.56 | 1.37 | 1.06 | 1.57 | 1.15 |
| EV / EBITDA | 11.72 | 7.61 | 8.66 | 8.00 | 6.06 | 6.42 | 6.97 | 6.73 | 5.26 | 7.73 | 5.46 |
| EV / EBIT | 125.58 | 36.30 | 44.42 | 21.64 | 11.86 | 14.41 | 16.52 | 17.02 | 13.25 | 21.37 | 16.08 |
| EV / FCF | — | — | — | — | 35.96 | — | 82.66 | — | — | — | — |
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 | 5.7% | 5.7% | 13.6% | 16.7% | 18.9% | 18.8% | 19.5% | 17.4% | 17.8% | 17.4% | 17.2% |
| Operating Margin | 1.2% | 1.2% | 3.4% | 8.0% | 11.3% | 11.5% | 10.7% | 9.1% | 8.9% | 8.1% | 8.7% |
| Net Profit Margin | 2.0% | 2.0% | 2.8% | 6.2% | 8.7% | 8.8% | 7.9% | 7.2% | 7.0% | 12.9% | 5.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.3% | 2.3% | 3.5% | 9.6% | 16.3% | 13.4% | 11.4% | 10.4% | 10.0% | 18.8% | 7.9% |
| ROA | 1.8% | 1.8% | 2.7% | 7.1% | 11.8% | 9.9% | 8.4% | 7.8% | 7.6% | 13.4% | 5.2% |
| ROIC | 1.1% | 1.1% | 3.4% | 10.2% | 17.6% | 14.6% | 12.5% | 10.6% | 10.3% | 8.9% | 9.8% |
| ROCE | 1.3% | 1.3% | 3.8% | 10.4% | 17.4% | 14.4% | 12.5% | 10.8% | 10.8% | 9.3% | 9.9% |
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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | 0.02 |
| Debt / EBITDA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | — | — | 0.06 |
| Net Debt / Equity | — | -0.06 | -0.02 | -0.07 | -0.11 | -0.09 | -0.11 | -0.05 | -0.10 | -0.03 | 0.02 |
| Net Debt / EBITDA | -0.37 | -0.37 | -0.12 | -0.26 | -0.31 | -0.26 | -0.33 | -0.18 | -0.36 | -0.11 | 0.05 |
| Debt / FCF | — | — | — | — | -1.86 | — | -3.94 | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($43M) exceeds total debt ($388000)
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 | 1.86 | 1.86 | 1.48 | 1.78 | 1.90 | 2.00 | 1.96 | 2.02 | 2.27 | 1.81 | 1.54 |
| Quick Ratio | 1.86 | 1.86 | 1.42 | 1.73 | 1.85 | 1.95 | 1.92 | 1.98 | 2.22 | 1.75 | 1.47 |
| Cash Ratio | 0.47 | 0.47 | 0.18 | 0.48 | 0.65 | 0.61 | 0.74 | 0.41 | 0.79 | 0.25 | 0.01 |
| Asset Turnover | — | 0.93 | 0.99 | 1.14 | 1.29 | 1.10 | 1.03 | 1.04 | 1.04 | 1.01 | 1.03 |
| Inventory Turnover | — | — | 146.30 | 149.97 | 188.94 | 180.68 | 208.66 | 205.16 | 183.60 | 133.40 | 127.81 |
| Days Sales Outstanding | — | 40.85 | 36.72 | 38.05 | 37.74 | 40.57 | 37.22 | 44.80 | 39.33 | 42.36 | 40.05 |
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 | 1.0% | 1.6% | 1.5% | 1.1% | 1.2% | 3.8% | 3.7% | 3.6% | 0.6% | 0.4% | 0.4% |
| Payout Ratio | 84.1% | 84.1% | 72.6% | 27.7% | 17.7% | 64.1% | 75.3% | 68.9% | 9.9% | 4.8% | 9.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.2% | 1.8% | 2.1% | 4.1% | 6.8% | 5.9% | 4.9% | 5.2% | 6.2% | 8.1% | 4.4% |
| FCF Yield | — | — | — | — | 2.6% | — | 1.2% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 2.6% | 0.0% | 0.0% | 0.0% | 0.4% | 0.0% | 1.0% |
| Total Shareholder Yield | 1.0% | 1.6% | 1.5% | 1.1% | 3.8% | 3.8% | 3.7% | 3.6% | 1.0% | 0.4% | 1.4% |
| Shares Outstanding | — | $82M | $81M | $81M | $82M | $83M | $83M | $83M | $83M | $82M | $82M |
Freight market volume contraction
Based on reported figures, MRTN trades at a TTM P/E of 83.19, a multiple that appears disconnected from the current -8.31% revenue growth trend and suggests investors are pricing in a recovery that is not yet visible in the underlying operational performance metrics.
The elevated P/E ratio relative to peers like Schneider National suggests the market is assigning a premium to the company's debt-free status rather than its current earnings power. This valuation may be unsustainable if the company fails to demonstrate a clear path back to historical margin levels in the coming quarters.
According to recent quarterly data, ROIC has trended toward 0.0% in 2026Q1, reflecting a significant decay in the company's ability to generate returns on its specialized refrigerated infrastructure compared to the 1.7% levels observed in late 2023.
The decline in ROIC highlights the difficulty of maintaining capital efficiency when asset turnover is suppressed by weak freight demand. Investors should monitor whether this decay is structural or merely a cyclical byproduct of the current freight recession.
As reported in financial statements, asset turnover has compressed to 0.21 in 2026Q1, down from 0.27 in 2023Q4, indicating that the company's heavy investment in refrigerated assets is currently yielding lower revenue productivity per dollar of capital deployed.
This reduction in asset turnover suggests that the company is struggling to maintain route density, which is critical for a carrier with high fixed costs. The inability to optimize asset utilization may continue to weigh on margins until industry-wide capacity tightens.
Based on the provided data, the P/E ratio is the most commonly misapplied metric for MRTN, as it obscures the impact of significant non-operating gains from equipment sales that frequently distort net income in this capital-intensive, asset-heavy business model.
Analysts should instead focus on EV/EBITDA or P/FCF to better capture the true cash-generating capability of the fleet. Relying on P/E during periods of depressed earnings and high equipment turnover leads to misleading valuation signals that ignore the underlying volatility of the freight cycle.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying MRTN stock.
Marten Transport, Ltd.'s current P/E ratio is 82.0x. The historical average is 22.2x. This places it at the 100th percentile of its historical range.
Marten Transport, Ltd.'s current EV/EBITDA is 11.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.7x.
Marten Transport, Ltd.'s return on equity (ROE) is 2.3%. The historical average is 9.9%.
Based on historical data, Marten Transport, Ltd. is trading at a P/E of 82.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Marten Transport, Ltd.'s current dividend yield is 1.05% with a payout ratio of 84.1%.
Marten Transport, Ltd. has 5.7% gross margin and 1.2% operating margin.
Marten Transport, Ltd.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.