Latest Ratios: P/E Ratio 11.0x · EV/EBITDA 7.8x · ROE 5.3%. (2014–2025 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 | $1.6B | $1.9B | $2.7B | $2.9B | $3.0B | $4.5B | $5.0B | $4.4B | $2.9B | $3.1B | $1.8B |
| Enterprise Value | $3.9B | $3.8B | $4.5B | $4.6B | $4.8B | $6.5B | $6.4B | $5.5B | $4.4B | $4.3B | $2.9B |
| P/E Ratio → | 10.97 | 13.75 | 11.99 | 15.00 | 12.23 | 23.95 | 23.98 | 29.05 | 17.24 | 22.85 | 47.85 |
| P/S Ratio | 0.47 | 0.62 | 0.88 | 0.95 | 1.02 | 1.73 | 2.00 | 1.91 | 1.35 | 1.60 | 0.91 |
| P/B Ratio | 0.60 | 0.75 | 1.03 | 1.12 | 1.15 | 1.97 | 2.37 | 1.74 | 1.43 | 1.69 | 0.92 |
| P/FCF | 5.62 | 7.45 | 7.71 | 8.33 | 13.37 | 19.91 | 12.63 | 16.56 | 10.51 | 20.67 | 7.33 |
| P/OCF | 4.29 | 5.68 | 6.29 | 6.74 | 9.89 | 14.76 | 11.01 | 14.07 | 9.15 | 16.12 | 6.23 |
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 | — | 1.27 | 1.46 | 1.52 | 1.63 | 2.49 | 2.55 | 2.36 | 2.01 | 2.20 | 1.50 |
| EV / EBITDA | 7.78 | 8.84 | 9.32 | 10.65 | 10.35 | 15.68 | 15.01 | 15.60 | 13.29 | 15.09 | 15.25 |
| EV / EBIT | 10.40 | 26.47 | 11.05 | 12.03 | 11.90 | 21.78 | 17.69 | 18.73 | 14.76 | 18.94 | 18.85 |
| EV / FCF | — | 15.25 | 12.70 | 13.31 | 21.38 | 28.60 | 16.09 | 20.48 | 15.65 | 28.47 | 12.03 |
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 | 27.1% | 27.1% | 29.6% | 28.2% | 27.7% | 28.6% | 30.3% | 30.0% | 30.1% | 30.6% | 29.6% |
| Operating Margin | 10.7% | 10.7% | 12.5% | 11.2% | 12.8% | 13.1% | 14.3% | 12.2% | 13.0% | 12.4% | 7.2% |
| Net Profit Margin | 4.5% | 4.5% | 7.3% | 6.3% | 8.5% | 6.9% | 9.0% | 6.6% | 7.9% | 7.0% | 1.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.3% | 5.3% | 8.6% | 7.4% | 10.2% | 8.2% | 9.6% | 6.7% | 8.8% | 7.3% | 1.9% |
| ROA | 2.1% | 2.1% | 3.5% | 3.0% | 4.0% | 3.1% | 3.9% | 2.7% | 3.4% | 2.9% | 0.8% |
| ROIC | 5.5% | 5.5% | 6.6% | 5.8% | 6.5% | 6.6% | 7.6% | 6.0% | 6.5% | 6.0% | 3.3% |
| ROCE | 6.2% | 6.2% | 7.2% | 6.3% | 7.1% | 6.9% | 7.4% | 5.9% | 6.7% | 6.2% | 3.5% |
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 | 0.92 | 0.92 | 0.82 | 0.83 | 0.83 | 0.97 | 0.83 | 0.73 | 0.86 | 0.75 | 0.76 |
| Debt / EBITDA | 5.27 | 5.27 | 4.50 | 4.93 | 4.67 | 5.38 | 4.15 | 5.33 | 5.36 | 4.90 | 7.68 |
| Net Debt / Equity | — | 0.79 | 0.67 | 0.67 | 0.69 | 0.86 | 0.65 | 0.41 | 0.70 | 0.64 | 0.59 |
| Net Debt / EBITDA | 4.52 | 4.52 | 3.67 | 3.99 | 3.88 | 4.76 | 3.22 | 2.99 | 4.36 | 4.13 | 5.96 |
| Debt / FCF | — | 7.80 | 5.00 | 4.98 | 8.00 | 8.69 | 3.46 | 3.92 | 5.14 | 7.80 | 4.71 |
| Interest Coverage | — | — | 2.85 | 2.67 | 4.65 | 3.59 | 5.90 | 3.54 | 4.28 | 3.87 | 1.81 |
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 | 1.07 | 1.07 | 1.10 | 1.13 | 1.19 | 0.96 | 1.06 | 1.73 | 1.12 | 1.07 | 1.16 |
| Quick Ratio | 0.66 | 0.66 | 0.71 | 0.70 | 0.70 | 0.54 | 0.68 | 1.33 | 0.71 | 0.63 | 0.73 |
| Cash Ratio | 0.31 | 0.31 | 0.36 | 0.40 | 0.39 | 0.26 | 0.46 | 1.03 | 0.39 | 0.31 | 0.43 |
| Asset Turnover | — | 0.48 | 0.48 | 0.47 | 0.46 | 0.42 | 0.45 | 0.39 | 0.41 | 0.43 | 0.41 |
| Inventory Turnover | 5.01 | 5.01 | 4.94 | 4.90 | 4.65 | 4.54 | 5.09 | 5.03 | 4.44 | 4.42 | 4.17 |
| Days Sales Outstanding | — | 45.36 | 43.77 | 36.46 | 33.13 | 32.85 | 26.84 | 32.46 | 29.21 | 27.44 | 25.69 |
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 | 6.1% | 4.9% | 3.3% | — | — | — | — | — | — | — | — |
| Payout Ratio | 66.8% | 66.8% | 39.3% | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.1% | 7.3% | 8.3% | 6.7% | 8.2% | 4.2% | 4.2% | 3.4% | 5.8% | 4.4% | 2.1% |
| FCF Yield | 17.8% | 13.4% | 13.0% | 12.0% | 7.5% | 5.0% | 7.9% | 6.0% | 9.5% | 4.8% | 13.6% |
| Buyback Yield | 14.3% | 10.8% | 4.5% | 6.1% | 1.0% | 2.2% | 12.5% | 0.0% | 0.0% | 5.7% | 0.0% |
| Total Shareholder Yield | 20.4% | 15.6% | 7.8% | 6.1% | 1.0% | 2.2% | 12.5% | 0.0% | 0.0% | 5.7% | 0.0% |
| Shares Outstanding | — | $150M | $163M | $171M | $174M | $178M | $198M | $198M | $176M | $185M | $184M |
Volume erosion and margin compression
Based on current market data, NOMD trades at a TTM P/E of 10.73 and an EV/EBITDA of 7.71, suggesting that investors are heavily discounting the company's future earnings potential relative to broader consumer defensive peers who command significantly higher valuation premiums in the current market environment.
The forward P/E of 7.40 implies that the market anticipates a continued struggle to stabilize top-line growth, effectively pricing the stock as a value trap rather than a growth-oriented consumer brand. This valuation gap compared to peers like McCormick suggests that the market is not yet convinced that the company's roll-up strategy can deliver sustainable organic expansion.
According to recent financial reports, NOMD's ROIC has languished at approximately 1.1% to 1.6% over the last several quarters, indicating that the company is failing to generate returns on invested capital that exceed its cost of capital, thereby eroding long-term shareholder value through inefficient asset deployment.
The persistent low ROIC suggests that the capital-intensive nature of maintaining a pan-European cold-chain logistics network is not being adequately offset by the margins generated from the brand portfolio. Investors should monitor whether management can improve capital turnover, as current levels appear insufficient to justify the heavy reliance on debt-funded acquisitions.
As reported in quarterly filings, the company's cash conversion cycle has exhibited extreme volatility, swinging from a negative 14 days in 2025Q2 to a positive 16 days in 2023Q4, which highlights significant inconsistencies in inventory management and the timing of supplier payments across the European operations.
The erratic nature of the CCC suggests that the company may be using aggressive working capital adjustments to manage periodic cash flow needs, which complicates the assessment of true operational efficiency. The high DPO relative to DSO indicates that NOMD is leveraging its scale to delay payments to suppliers, a strategy that may become unsustainable if credit terms tighten.
Based on the provided figures, the interest coverage ratio has fluctuated between 1.65 and 3.79, suggesting that the company's ability to service its debt obligations is becoming increasingly sensitive to the recent compression in operating margins and the broader volatility in its quarterly earnings performance.
While the reported debt-to-equity ratio of 0.92 appears manageable in isolation, the declining trend in interest coverage indicates that the margin of safety is narrowing. This warrants further investigation into the company's refinancing risk, particularly if operating income continues to face pressure from input cost inflation and volume declines.
The P/E ratio is frequently misapplied to NOMD, as it obscures the significant impact of non-operating expenses and acquisition-related amortization that distort net income, making the company appear cheaper than its underlying operational cash-generating ability would suggest to a fundamental analyst.
Investors should instead focus on EV/EBITDA or P/FCF, which better account for the company's capital structure and the cash-heavy nature of its cold-chain logistics business. Relying on P/E ignores the substantial drag from interest and tax expenses, which are structural features of the company's current debt-heavy roll-up model.
Includes 30+ ratios · 12 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying NOMD stock.
Nomad Foods Limited's current P/E ratio is 11.0x. The historical average is 21.8x.
Nomad Foods Limited's current EV/EBITDA is 7.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.6x.
Nomad Foods Limited's return on equity (ROE) is 5.3%. The historical average is 1.7%.
Based on historical data, Nomad Foods Limited is trading at a P/E of 11.0x. Compare with industry peers and growth rates for a complete picture.
Nomad Foods Limited's current dividend yield is 6.09% with a payout ratio of 66.8%.
Nomad Foods Limited has 27.1% gross margin and 10.7% operating margin. Operating margin between 10-20% is typical for established companies.
Nomad Foods Limited's Debt/EBITDA ratio is 5.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.