Latest Ratios: P/E Ratio -649.3x · EV/EBITDA 11.0x · ROE -0.2%. (2013–2025 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 | $775M | $719M | $626M | $1.1B | $936M | $908M | $210M | $352M | $390M | $674M | $684M |
| Enterprise Value | $633M | $577M | $402M | $865M | $711M | $707M | $207M | $508M | $557M | $815M | $795M |
| P/E Ratio → | -649.30 | — | 480.61 | 15.95 | 13.98 | 5.19 | — | — | — | — | — |
| P/S Ratio | 0.67 | 0.62 | 0.58 | 0.82 | 0.70 | 0.71 | 0.25 | 0.29 | 0.24 | 0.51 | 0.79 |
| P/B Ratio | 1.13 | 1.05 | 0.91 | 1.53 | 1.36 | 1.37 | 0.41 | 0.63 | 0.64 | 1.20 | 1.15 |
| P/FCF | — | — | — | 15.21 | 8.71 | 4.91 | 1.34 | 10.90 | — | — | 21.58 |
| P/OCF | 48.43 | 44.94 | 15.53 | 8.95 | 6.96 | 4.61 | 1.21 | 5.01 | 21.07 | 83.26 | 9.20 |
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 | — | 0.50 | 0.37 | 0.63 | 0.53 | 0.55 | 0.25 | 0.42 | 0.35 | 0.61 | 0.91 |
| EV / EBITDA | 10.97 | 10.00 | 6.28 | 5.45 | 6.40 | 3.39 | 13.24 | — | 5.50 | 15.62 | 63.11 |
| EV / EBIT | 575.58 | 156.00 | 87.47 | 8.97 | 7.28 | 3.87 | — | — | 62.62 | — | — |
| EV / FCF | — | — | — | 11.74 | 6.62 | 3.83 | 1.32 | 15.73 | — | — | 25.09 |
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 | 8.2% | 8.2% | 9.0% | 13.7% | 9.5% | 17.1% | 1.9% | 1.9% | 7.9% | 5.1% | 3.2% |
| Operating Margin | 0.1% | 0.1% | 0.9% | 7.5% | 4.0% | 11.3% | -6.1% | -7.6% | 1.8% | -1.7% | -7.2% |
| Net Profit Margin | -0.1% | -0.1% | 0.1% | 5.1% | 4.9% | 13.3% | -7.5% | -9.1% | -0.6% | -3.3% | -12.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.2% | -0.2% | 0.2% | 9.8% | 9.6% | 29.2% | -11.6% | -18.7% | -1.7% | -7.6% | -16.5% |
| ROA | -0.1% | -0.1% | 0.1% | 6.1% | 5.8% | 15.9% | -6.0% | -8.9% | -0.8% | -3.9% | -9.5% |
| ROIC | 0.2% | 0.2% | 1.6% | 16.3% | 8.6% | 22.5% | -6.3% | -9.2% | 2.9% | -2.4% | -6.0% |
| ROCE | 0.1% | 0.1% | 1.1% | 11.2% | 5.9% | 16.9% | -5.7% | -8.6% | 2.7% | -2.4% | -6.3% |
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 | 0.02 | 0.02 | 0.02 | 0.03 | 0.05 | 0.09 | 0.20 | 0.32 | 0.31 | 0.29 | 0.23 |
| Debt / EBITDA | 0.26 | 0.26 | 0.27 | 0.15 | 0.30 | 0.29 | 6.36 | — | 1.86 | 3.17 | 10.84 |
| Net Debt / Equity | — | -0.21 | -0.32 | -0.35 | -0.33 | -0.30 | -0.01 | 0.28 | 0.27 | 0.25 | 0.19 |
| Net Debt / EBITDA | -2.46 | -2.46 | -3.49 | -1.61 | -2.02 | -0.96 | -0.23 | — | 1.65 | 2.70 | 8.81 |
| Debt / FCF | — | — | — | -3.47 | -2.09 | -1.08 | -0.02 | 4.83 | — | — | 3.50 |
| Interest Coverage | 2.06 | 2.06 | 1.84 | 35.70 | 25.05 | 29.50 | -3.90 | -5.88 | 0.52 | -1.01 | -15.71 |
Net cash position: cash ($157M) exceeds total debt ($15M)
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 | 1.76 | 1.76 | 2.09 | 2.64 | 2.98 | 2.32 | 1.98 | 3.58 | 2.58 | 1.98 | 2.22 |
| Quick Ratio | 0.98 | 0.98 | 1.31 | 1.73 | 1.95 | 1.48 | 0.99 | 1.07 | 0.88 | 0.90 | 0.97 |
| Cash Ratio | 0.50 | 0.50 | 0.86 | 1.13 | 1.38 | 1.04 | 0.57 | 0.24 | 0.10 | 0.12 | 0.20 |
| Asset Turnover | — | 1.02 | 0.97 | 1.16 | 1.23 | 1.11 | 0.84 | 1.11 | 1.16 | 1.15 | 0.81 |
| Inventory Turnover | 4.37 | 4.37 | 4.49 | 5.16 | 6.25 | 5.04 | 4.57 | 4.21 | 3.96 | 5.63 | 5.13 |
| Days Sales Outstanding | — | 39.70 | 30.57 | 30.33 | 21.79 | 28.59 | 27.81 | 23.40 | 37.03 | 41.14 | 38.45 |
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 | — | — | 0.2% | 6.3% | 7.2% | 19.3% | — | — | — | — | — |
| FCF Yield | — | — | — | 6.6% | 11.5% | 20.4% | 74.5% | 9.2% | — | — | 4.6% |
| Buyback Yield | 1.7% | 1.8% | 8.5% | 3.2% | 5.8% | 0.1% | 0.3% | 0.3% | 0.2% | 0.2% | 0.0% |
| Total Shareholder Yield | 1.7% | 1.8% | 8.5% | 3.2% | 5.8% | 0.1% | 0.3% | 0.3% | 0.2% | 0.2% | 0.0% |
| Shares Outstanding | — | $42M | $44M | $48M | $52M | $55M | $45M | $45M | $45M | $44M | $44M |
High fixed cost sensitivity
According to recent financial statements, Metallus reported a thin operating margin of 0.10% in 2026Q1, which, when compared to the 15.7% gross margin peak in 2024Q1, suggests that the company struggles to translate top-line revenue into meaningful bottom-line profitability due to high fixed-cost absorption requirements.
The persistent volatility in gross margins indicates that the company's specialized metallurgical production is highly sensitive to volume fluctuations. Investors should monitor whether the recent rebranding to Metallus Inc. can facilitate a shift toward higher-margin defense contracts that might decouple the firm from its historical reliance on cyclical automotive volumes.
Based on reported figures, the company's ROIC has fluctuated significantly, reaching a low of -2.3% in 2025Q4, which highlights the difficulty of compounding capital in a business model heavily dependent on capital-intensive electric arc furnace assets that require consistent utilization to generate positive economic returns.
The inability to maintain a consistent positive ROIC suggests that the company's current asset base is not yet generating sufficient returns to exceed its cost of capital. This trend warrants further investigation into whether management's capital allocation strategy will prioritize efficiency improvements or if the current asset footprint remains structurally oversized for current demand levels.
As indicated by the provided data, the cash conversion cycle has remained volatile, peaking at 85 days in 2024Q3, which suggests that Metallus faces ongoing challenges in managing its inventory and collection cycles relative to its supplier payment terms in a highly cyclical industrial environment.
The fluctuation in days inventory outstanding (DIO) appears to be a primary driver of cash flow instability, reflecting the difficulty of balancing production schedules with unpredictable end-market demand. This inefficiency may be masking the company's true operational potential, as capital remains tied up in inventory rather than being deployed for strategic growth.
According to recent SEC filings, Metallus has maintained a remarkably stable debt-to-equity ratio of 0.02, a defensive posture that distinguishes the company from more leveraged peers and provides a necessary buffer against the inherent volatility of the specialty steel market and its associated high fixed-cost structure.
While this near-zero leverage profile provides significant protection against insolvency, it also suggests a lack of aggressive capital deployment that could otherwise drive growth. Investors should monitor whether this balance sheet strength will be utilized for accretive M&A or if it will remain a static defensive mechanism during future industrial downturns.
As reported in financial statements, the market's reliance on P/E multiples for Metallus is misleading, as the company's earnings are frequently distorted by non-recurring items and cyclical volatility, making the P/E ratio an unreliable indicator of the firm's underlying value or its potential for a structural re-rating.
Analysts should instead focus on EV/EBITDA or price-to-book ratios to better assess the company's valuation relative to its asset-heavy business model. Relying on P/E ratios in this context ignores the significant impact of LIFO accounting and maintenance shutdown timing, which can artificially depress or inflate earnings in any given quarter.
Includes 30+ ratios · 13 years · Updated daily
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Quick answers to the most common questions about buying MTUS stock.
Metallus Inc.'s current P/E ratio is -649.3x. The historical average is 18.0x.
Metallus Inc.'s current EV/EBITDA is 11.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.3x.
Metallus Inc.'s return on equity (ROE) is -0.2%. The historical average is 0.3%.
Based on historical data, Metallus Inc. is trading at a P/E of -649.3x. Compare with industry peers and growth rates for a complete picture.
Metallus Inc. has 8.2% gross margin and 0.1% operating margin.
Metallus Inc.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.