Latest Ratios: P/E Ratio 13.5x · EV/EBITDA 7.3x · ROE 8.0%. (2007–2025 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 | $1.3B | $1.2B | $1.1B | $1.1B | $928M | $574M | $612M | $752M | $523M | $550M | $519M |
| Enterprise Value | $2.0B | $1.9B | $1.6B | $1.7B | $1.6B | $1.4B | $1.3B | $1.5B | $1.3B | $1.4B | $1.2B |
| P/E Ratio → | 13.51 | 11.78 | 12.90 | 13.23 | 17.33 | — | 927.97 | — | — | 98.50 | 11.63 |
| P/S Ratio | 2.21 | 2.01 | 1.95 | 1.97 | 1.96 | 1.41 | 1.84 | 2.49 | 1.69 | 1.84 | 1.76 |
| P/B Ratio | 1.08 | 0.94 | 0.88 | 0.88 | 0.79 | 0.51 | 0.65 | 0.80 | 0.55 | 0.57 | 0.54 |
| P/FCF | 19.67 | 17.88 | 6.52 | — | 10.97 | 6.08 | 14.36 | 16.19 | 6.82 | — | — |
| P/OCF | 5.90 | 5.37 | 5.24 | 6.21 | 7.12 | 5.86 | 13.64 | 15.12 | 6.75 | 7.25 | 5.98 |
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 | — | 3.20 | 2.79 | 3.04 | 3.36 | 3.37 | 4.05 | 4.99 | 4.15 | 4.52 | 4.10 |
| EV / EBITDA | 7.26 | 6.83 | 5.72 | 6.28 | 8.52 | 16.02 | 11.36 | 13.83 | 10.94 | 11.18 | 8.60 |
| EV / EBIT | 14.22 | 13.38 | 11.47 | 12.34 | 19.17 | 4757.76 | 31.76 | 44.93 | 31.04 | 28.62 | 15.43 |
| EV / FCF | — | 28.48 | 9.34 | — | 18.83 | 14.52 | 31.57 | 32.40 | 16.79 | — | — |
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 | 30.1% | 30.1% | 56.4% | 31.0% | 18.8% | 23.1% | 21.2% | 19.4% | 21.1% | 22.9% | 33.6% |
| Operating Margin | 23.9% | 23.9% | 25.3% | 24.9% | 12.8% | -0.7% | 12.6% | 10.8% | 13.4% | 15.8% | 26.5% |
| Net Profit Margin | 17.1% | 17.1% | 15.1% | 14.9% | 11.3% | -7.6% | -0.1% | -5.5% | -1.9% | 1.8% | 15.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.0% | 8.0% | 6.9% | 6.8% | 4.7% | -3.0% | -0.0% | -1.8% | -0.6% | 0.6% | 4.8% |
| ROA | 4.5% | 4.5% | 3.9% | 3.8% | 2.5% | -1.5% | -0.0% | -0.9% | -0.3% | 0.3% | 2.7% |
| ROIC | 5.7% | 5.7% | 6.1% | 5.6% | 2.4% | -0.1% | 1.9% | 1.4% | 1.8% | 2.1% | 3.8% |
| ROCE | 7.2% | 7.2% | 7.4% | 6.9% | 3.1% | -0.2% | 2.4% | 1.9% | 2.4% | 2.8% | 5.1% |
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 | 0.72 | 0.72 | 0.49 | 0.60 | 0.69 | 0.82 | 0.84 | 0.87 | 0.88 | 0.89 | 0.78 |
| Debt / EBITDA | 3.29 | 3.29 | 2.20 | 2.77 | 4.34 | 10.76 | 6.69 | 7.51 | 7.11 | 7.14 | 5.31 |
| Net Debt / Equity | — | 0.56 | 0.38 | 0.48 | 0.57 | 0.71 | 0.78 | 0.80 | 0.80 | 0.83 | 0.72 |
| Net Debt / EBITDA | 2.54 | 2.54 | 1.73 | 2.20 | 3.55 | 9.31 | 6.19 | 6.92 | 6.50 | 6.62 | 4.90 |
| Debt / FCF | — | 10.60 | 2.82 | — | 7.85 | 8.44 | 17.21 | 16.21 | 9.97 | — | — |
| Interest Coverage | 2.51 | 2.51 | 2.45 | 2.09 | 1.73 | 0.01 | 1.03 | 0.69 | 0.92 | 1.25 | 2.42 |
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 | 1.18 | 1.18 | 0.69 | 1.38 | 1.43 | 1.05 | 1.27 | 1.15 | 1.12 | 1.02 | 0.73 |
| Quick Ratio | 1.12 | 1.12 | 0.65 | 1.33 | 1.38 | 0.99 | 1.19 | 1.06 | 1.04 | 0.94 | 0.68 |
| Cash Ratio | 0.82 | 0.82 | 0.41 | 0.81 | 0.92 | 0.61 | 0.55 | 0.58 | 0.68 | 0.56 | 0.45 |
| Asset Turnover | — | 0.26 | 0.26 | 0.25 | 0.23 | 0.19 | 0.18 | 0.16 | 0.17 | 0.16 | 0.17 |
| Inventory Turnover | 26.63 | 26.63 | 17.97 | 42.04 | 45.03 | 23.73 | 31.08 | 25.19 | 27.82 | 28.73 | 28.16 |
| Days Sales Outstanding | — | 34.64 | 33.50 | 47.07 | 35.00 | 55.36 | 51.40 | 39.58 | 25.64 | 37.50 | 25.06 |
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 | 1.1% | 1.3% | 1.3% | 0.7% | — | — | — | — | — | — | — |
| Payout Ratio | 14.7% | 14.7% | 16.7% | 8.9% | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.4% | 8.5% | 7.8% | 7.6% | 5.8% | — | 0.1% | — | — | 1.0% | 8.6% |
| FCF Yield | 5.1% | 5.6% | 15.3% | — | 9.1% | 16.5% | 7.0% | 6.2% | 14.7% | — | — |
| Buyback Yield | 4.8% | 5.3% | 5.2% | 4.5% | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.9% | 6.6% | 6.5% | 5.2% | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $68M | $72M | $75M | $78M | $65M | $56M | $56M | $56M | $56M | $56M |
Fleet Age and Utilization
Based on current market data, NVGS trades at a forward P/E of 9.75, which appears to reflect a significant discount compared to broader midstream peers, likely due to the market's persistent classification of the firm as a cyclical shipping entity rather than an integrated logistics provider.
The low PEG ratio of 0.08 suggests that the market is currently pricing in minimal growth expectations, potentially ignoring the long-term optionality of the company's ammonia-capable fleet. Investors should monitor whether the valuation gap narrows as the market begins to recognize the stable, fee-based contributions from the Morgan’s Point terminal joint venture.
According to historical financial data, Navigator Holdings has struggled to consistently exceed a 2.0% ROIC, a trend that appears to be driven by the heavy capital intensity required to maintain a specialized Handysize fleet and the periodic, lumpy nature of major vessel dry-docking expenditures.
The modest return profile suggests that while the company maintains a competitive niche, the high fixed-cost base of its maritime assets limits the ability to compound capital efficiently. Future improvements in ROIC will likely depend on the company's ability to increase throughput at the Morgan’s Point terminal without incurring proportional increases in maintenance capital requirements.
As reported in recent quarterly filings, the company's cash conversion cycle has fluctuated between 29 and 46 days, reflecting the inherent volatility in managing a hybrid fleet of time-chartered and spot-market vessels that require varying levels of operational working capital to support global trade routes.
The variability in DSO and DIO suggests that management's ability to optimize working capital is frequently interrupted by the timing of voyage completions and fuel procurement cycles. Investors should monitor whether the company can stabilize these metrics as it shifts further toward long-term, fee-based infrastructure contracts which typically offer more predictable cash collection cycles.
Based on reported figures, Navigator Holdings maintains a debt-to-equity ratio that has remained within a disciplined 0.45 to 0.74 range over the last ten quarters, providing a robust buffer against the cyclical downturns that frequently impact the broader liquefied gas shipping and midstream energy sectors.
This conservative capital structure appears to be a strategic choice, allowing the company to navigate periods of high interest rates and volatile spot rates without compromising its liquidity position. The interest coverage ratio, which has generally remained above 2.0x, suggests that the company's debt service obligations are currently well-supported by its operating cash flow.
The most commonly misapplied metric for Navigator Holdings is the standard P/E ratio, which fails to account for the significant non-cash depreciation charges and the equity-accounted earnings from the Morgan’s Point terminal that obscure the company's true underlying economic earning power and cash-generative capacity.
Analysts should instead focus on EV/EBITDA and Free Cash Flow yield, as these metrics better capture the company's operational performance by neutralizing the impact of capital structure and non-cash accounting treatments. Relying solely on P/E risks undervaluing the firm's infrastructure-like assets, which provide a structural floor to earnings that pure-play shipping peers lack.
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying NVGS stock.
Navigator Holdings Ltd.'s current P/E ratio is 13.5x. The historical average is 21.9x. This places it at the 64th percentile of its historical range.
Navigator Holdings Ltd.'s current EV/EBITDA is 7.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.9x.
Navigator Holdings Ltd.'s return on equity (ROE) is 8.0%. The historical average is 4.8%.
Based on historical data, Navigator Holdings Ltd. is trading at a P/E of 13.5x. This is at the 64th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Navigator Holdings Ltd.'s current dividend yield is 1.09% with a payout ratio of 14.7%.
Navigator Holdings Ltd. has 30.1% gross margin and 23.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Navigator Holdings Ltd.'s Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.