Latest Ratios: P/E Ratio -0.1x · EV/EBITDA 116.0x · ROE -159.7%. (2016–2025 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 | $105M | $317M | $3.3B | $7.8B | $8.9B | $4.9B | $5.7B | $981M | — | — | — |
| Enterprise Value | $8.3B | $8.5B | $12.3B | $15.0B | $13.1B | $8.8B | $6.5B | $1.6B | — | — | — |
| P/E Ratio → | -0.06 | — | — | 14.24 | 45.61 | 50.29 | — | — | — | — | — |
| P/S Ratio | 0.07 | 0.21 | 1.40 | 3.23 | 3.76 | 3.68 | 12.66 | 5.19 | — | — | — |
| P/B Ratio | 0.33 | 1.03 | 1.65 | 4.38 | 6.17 | 2.44 | 15.24 | 2.53 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | 5.63 | 9.45 | 25.07 | 57.44 | — | — | — | — | — |
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 | — | 5.67 | 5.21 | 6.22 | 5.54 | 6.67 | 14.33 | 8.32 | — | — | — |
| EV / EBITDA | 115.97 | 118.93 | 17.56 | 13.28 | 14.89 | 26.06 | — | — | — | — | — |
| EV / EBIT | — | — | 129.19 | 16.25 | 45.69 | 35.14 | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
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 | 9.1% | 9.1% | 46.7% | 54.0% | 48.6% | 42.1% | 27.7% | -11.2% | 6.2% | 11.4% | -30.6% |
| Operating Margin | -11.3% | -11.3% | 22.8% | 39.1% | 31.1% | 18.1% | -34.4% | -99.0% | -52.1% | -25.7% | -126.5% |
| Net Profit Margin | -122.6% | -122.6% | -10.5% | 22.7% | 8.2% | 7.3% | -40.3% | -17.9% | -69.5% | -32.6% | -153.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -159.7% | -159.7% | -13.2% | 34.0% | 11.3% | 8.2% | -47.8% | -10.1% | -27.8% | -11.1% | -11.4% |
| ROA | -15.7% | -15.7% | -2.1% | 6.0% | 2.7% | 2.2% | -12.0% | -3.7% | -14.5% | -8.2% | -8.5% |
| ROIC | -1.3% | -1.3% | 4.0% | 9.6% | 9.5% | 5.1% | -11.0% | -19.3% | -11.8% | -8.2% | -10.7% |
| ROCE | -2.6% | -2.6% | 5.4% | 12.5% | 11.7% | 5.9% | -11.3% | -28.5% | -18.2% | -7.0% | -7.4% |
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 | 27.68 | 27.68 | 4.75 | 4.15 | 3.39 | 2.07 | 3.62 | 1.60 | 0.96 | 0.27 | 0.28 |
| Debt / EBITDA | 119.48 | 119.48 | 13.55 | 6.53 | 5.55 | 12.22 | — | — | — | — | — |
| Net Debt / Equity | — | 26.53 | 4.50 | 4.06 | 2.92 | 1.98 | 2.02 | 1.53 | 0.69 | -0.03 | -0.35 |
| Net Debt / EBITDA | 114.51 | 114.51 | 12.84 | 6.39 | 4.79 | 11.67 | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -0.22 | -0.22 | 0.29 | 3.32 | 1.21 | 1.63 | -3.18 | -10.14 | -6.30 | -3.93 | -5.52 |
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 | 0.15 | 0.15 | 0.94 | 0.57 | 0.98 | 1.04 | 3.99 | 2.06 | 0.38 | 4.83 | 8.66 |
| Quick Ratio | 0.14 | 0.14 | 0.88 | 0.51 | 0.96 | 0.97 | 3.87 | 1.44 | 0.34 | 4.48 | 8.34 |
| Cash Ratio | 0.04 | 0.04 | 0.29 | 0.09 | 0.48 | 0.33 | 3.15 | 0.26 | 0.19 | 2.64 | 7.38 |
| Asset Turnover | — | 0.14 | 0.18 | 0.23 | 0.31 | 0.19 | 0.24 | 0.17 | 0.16 | 0.26 | 0.05 |
| Inventory Turnover | 11.45 | 11.45 | 12.21 | 9.77 | 31.14 | 20.60 | 14.28 | 3.31 | 6.60 | 7.72 | 3.65 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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 | 3.4% | 1.1% | 2.0% | 9.3% | 1.1% | 1.8% | 0.6% | — | — | — | — |
| Payout Ratio | — | — | — | 132.1% | 50.9% | 91.4% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 7.0% | 2.2% | 2.0% | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.6% | 0.1% | 0.0% | — | — | — |
| Total Shareholder Yield | 3.4% | 1.1% | 2.0% | 9.3% | 1.1% | 2.4% | 0.7% | 0.0% | — | — | — |
| Shares Outstanding | — | $278M | $219M | $206M | $210M | $202M | $107M | $63M | $68M | $68M | $68M |
Liquidity and project execution
According to recent market data, NFE trades at a P/S ratio of 0.07 and a P/B of 0.31, suggesting that investors are heavily discounting the company's asset base due to persistent net losses and the absence of a clear path to positive earnings per share.
The negative P/E ratio of -0.05 underscores the market's skepticism regarding the company's ability to transition from a capital-intensive developer to a cash-generative utility. Investors should monitor whether the current valuation represents a deep value opportunity or a reflection of structural insolvency risks inherent in the current business model.
Based on the 2026Q1 financial statements, the company's debt-to-capital ratio has reached 1.01, indicating that liabilities now exceed the total book value of assets, a precarious position that leaves little room for operational error or further project delays in international markets.
The negative interest coverage ratio of -0.59 suggests that the firm is currently unable to service its debt obligations from operating income. This leverage profile warrants further investigation into potential covenant breaches and the company's reliance on external financing to maintain its ongoing infrastructure commitments.
As reported in recent filings, the dividend yield has fluctuated significantly, with the payout ratio becoming non-meaningful as the company shifted into a period of deep net losses, signaling that current distributions are likely not supported by sustainable free cash flow generation.
The inconsistency in dividend payments appears to reflect the company's struggle to balance shareholder returns with the massive capital requirements of its Fast LNG initiative. Investors should interpret the recent cessation of meaningful payouts as a necessary move to preserve liquidity amidst a deteriorating cash position.
Market participants frequently misapply the P/E ratio to NFE, which obscures the company's true risk profile as an infrastructure developer rather than a regulated utility, as noted in recent institutional research regarding the firm's reliance on volatile merchant LNG volumes and project-specific cash flows.
Comparing NFE to traditional utilities ignores the reality that its earnings are not anchored by a regulatory compact or authorized ROE. Analysts should instead focus on EV/EBITDA or sum-of-the-parts valuation models to better capture the underlying value of the company's disparate shipping and infrastructure assets.
Includes 30+ ratios · 10 years · Updated daily
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Quick answers to the most common questions about buying NFE stock.
New Fortress Energy Inc.'s current P/E ratio is -0.1x. The historical average is 36.7x.
New Fortress Energy Inc.'s current EV/EBITDA is 116.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.9x.
New Fortress Energy Inc.'s return on equity (ROE) is -159.7%. The historical average is -22.8%.
Based on historical data, New Fortress Energy Inc. is trading at a P/E of -0.1x. Compare with industry peers and growth rates for a complete picture.
New Fortress Energy Inc.'s current dividend yield is 3.41%.
New Fortress Energy Inc. has 9.1% gross margin and -11.3% operating margin.
New Fortress Energy Inc.'s Debt/EBITDA ratio is 119.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.