Latest Ratios: P/E Ratio -8.3x · EV/EBITDA 8.5x · ROE -41.3%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $3.2B | $4.4B | — | — | — |
| Enterprise Value | $6.6B | $7.8B | — | — | — |
| P/E Ratio → | -8.33 | — | — | — | — |
| P/S Ratio | 0.77 | 1.05 | — | — | — |
| P/B Ratio | 2.40 | 3.59 | — | — | — |
| P/FCF | 135.84 | 184.16 | — | — | — |
| P/OCF | 10.87 | 14.74 | — | — | — |
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 |
|---|---|---|---|---|---|
| EV / Revenue | — | 1.85 | — | — | — |
| EV / EBITDA | 8.53 | 10.02 | — | — | — |
| EV / EBIT | 46.56 | 64.86 | — | — | — |
| EV / FCF | — | 324.56 | — | — | — |
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 |
|---|---|---|---|---|---|
| Gross Margin | 55.6% | 55.6% | 55.4% | 54.8% | 50.2% |
| Operating Margin | 3.4% | 3.4% | -2.5% | -3.3% | -6.4% |
| Net Profit Margin | -8.4% | -8.4% | -20.4% | -17.2% | -10.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -41.3% | -41.3% | -89.1% | -61.4% | -54.9% |
| ROA | -5.4% | -5.4% | -11.8% | -10.2% | -7.7% |
| ROIC | 2.3% | 2.3% | -1.5% | -2.0% | -4.9% |
| ROCE | 2.7% | 2.7% | -1.8% | -2.5% | -6.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 3.16 | 3.16 | 8.89 | 3.33 | 4.25 |
| Debt / EBITDA | 5.00 | 5.00 | 8.71 | 12.60 | 18.66 |
| Net Debt / Equity | — | 2.74 | 8.35 | 3.12 | 3.99 |
| Net Debt / EBITDA | 4.33 | 4.33 | 8.18 | 11.80 | 17.49 |
| Debt / FCF | — | 140.40 | — | — | — |
| Interest Coverage | 0.36 | 0.36 | -0.68 | -0.73 | -1.32 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 1.03 | 1.03 | 0.87 | 1.10 | 0.83 |
| Quick Ratio | 1.03 | 1.03 | 0.87 | 1.10 | 0.83 |
| Cash Ratio | 0.37 | 0.37 | 0.19 | 0.20 | 0.15 |
| Asset Turnover | — | 0.62 | 0.62 | 0.45 | 0.72 |
| Inventory Turnover | — | — | — | — | — |
| Days Sales Outstanding | — | 59.19 | 66.91 | 81.81 | 70.72 |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | 0.7% | 0.5% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $267M | $245M | $245M | $245M |
High Debt Service Burden
Based on reported figures, NIQ's negative TTM P/E of -6.54 and forward P/E of 8.85 suggest that traditional earnings-based valuation is currently unreliable, as the company's bottom line remains heavily impacted by non-cash amortization charges stemming from recent large-scale acquisitions and private equity-led restructuring.
The forward P/E of 8.85 appears to discount the company as a legacy asset, potentially ignoring the recurring nature of its subscription-based data model. Investors should monitor whether the market is mispricing the firm by failing to adjust for the significant non-cash expenses that currently suppress reported earnings.
According to recent financial statements, NIQ's ROIC has struggled to maintain positive territory, hovering near 1.0% in 2026Q1, which indicates that the company is currently failing to generate returns on invested capital that exceed its likely cost of capital during this intensive integration phase.
The low ROIC reflects the heavy burden of goodwill and intangible assets on the balance sheet following the GfK merger. Until management can successfully harmonize these data assets and drive margin expansion, the company will likely continue to struggle with efficient capital compounding.
As indicated by the quarterly data, NIQ's asset turnover of 0.16 in 2026Q1 highlights a capital-intensive business model where the conversion of assets into revenue remains slow, further complicated by significant fluctuations in DSO which reached 67 days in the most recent quarter.
The high DSO suggests potential friction in the billing and collection cycle, which may be exacerbated by the complexity of integrating new client contracts post-merger. Improving these efficiency metrics is critical for the company to generate the internal cash flow necessary to reduce its reliance on external debt.
Based on the latest filings, NIQ's debt-to-equity ratio of 3.31 and interest coverage ratio of 1.06 in 2026Q1 reveal a highly leveraged capital structure that leaves the company with minimal margin for error in a sustained high-interest-rate environment.
The narrow interest coverage ratio suggests that nearly all operating profit is currently being consumed by debt service, which severely restricts the company's ability to reinvest in competitive moats like AI-driven data processing. This leverage profile warrants close monitoring for potential refinancing risks or covenant pressure.
As reported in financial statements, the P/E ratio is the most commonly misapplied metric for NIQ, as it fails to account for the massive non-cash amortization of intangibles that artificially depresses net income and obscures the company's underlying cash-generating potential in its core subscription business.
Analysts should instead focus on EV/EBITDA or Free Cash Flow to better understand the operational reality of the firm, as these metrics strip away the accounting noise of the GfK acquisition. Relying on P/E in this context may lead to an overly pessimistic assessment of the company's true economic health.
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Quick answers to the most common questions about buying NIQ stock.
NIQ Global Intelligence Plc's current P/E ratio is -8.3x. This places it at the 50th percentile of its historical range.
NIQ Global Intelligence Plc's current EV/EBITDA is 8.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.0x.
NIQ Global Intelligence Plc's return on equity (ROE) is -41.3%. The historical average is -61.7%.
Based on historical data, NIQ Global Intelligence Plc is trading at a P/E of -8.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
NIQ Global Intelligence Plc has 55.6% gross margin and 3.4% operating margin.
NIQ Global Intelligence Plc's Debt/EBITDA ratio is 5.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.