Latest Ratios: P/E Ratio 5.5x · EV/EBITDA 58.7x · ROE 83.0%. (2018–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $938M | $986M | $1.7B | $2.2B | $2.6B | $2.8B | $3.9B | $1.5B | — | — |
| Enterprise Value | $1.1B | $1.2B | $1.8B | $2.3B | $2.7B | $2.7B | $3.8B | $1.4B | — | — |
| P/E Ratio → | 5.50 | 5.67 | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.90 | 2.00 | 3.64 | 5.08 | 7.13 | 9.92 | 18.17 | 9.19 | — | — |
| P/B Ratio | 3.53 | 3.64 | 11.51 | 12.22 | 10.92 | 10.45 | 10.58 | 4.96 | — | — |
| P/FCF | 8.38 | 8.81 | 15.72 | 33.94 | 310.69 | — | 739.39 | — | — | — |
| P/OCF | 8.16 | 8.58 | 14.45 | 30.38 | 155.65 | — | 384.31 | — | — | — |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.36 | 3.90 | 5.30 | 7.20 | 9.77 | 17.75 | 8.44 | — | — |
| EV / EBITDA | 58.73 | 61.26 | — | — | — | — | — | — | — | — |
| EV / EBIT | 190.68 | 198.92 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 10.38 | 16.80 | 35.46 | 313.92 | — | 722.27 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.9% | 84.9% | 83.0% | 81.9% | 81.0% | 82.8% | 85.6% | 85.2% | 85.4% | 84.0% |
| Operating Margin | 1.2% | 1.2% | -12.8% | -22.3% | -34.9% | -36.1% | -31.0% | -33.4% | -35.9% | -48.1% |
| Net Profit Margin | 35.3% | 35.3% | -9.1% | -19.0% | -34.9% | -38.2% | -32.3% | -30.3% | -34.6% | -47.9% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 83.0% | 83.0% | -26.1% | -38.8% | -50.8% | -33.9% | -20.4% | -24.4% | -170.7% | — |
| ROA | 18.1% | 18.1% | -4.6% | -9.4% | -15.9% | -13.4% | -11.2% | -15.9% | -29.2% | -46.9% |
| ROIC | 1.2% | 1.2% | -16.5% | -26.4% | -39.3% | -30.4% | -21.6% | -52.0% | — | — |
| ROCE | 0.9% | 0.9% | -9.9% | -16.2% | -23.0% | -16.9% | -14.1% | -25.9% | -60.9% | -125.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.53 | 1.53 | 3.13 | 2.58 | 1.25 | 1.15 | 0.68 | — | — | — |
| Debt / EBITDA | 21.80 | 21.80 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.65 | 0.79 | 0.55 | 0.11 | -0.16 | -0.24 | -0.40 | -1.23 | — |
| Net Debt / EBITDA | 9.28 | 9.28 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 1.57 | 1.08 | 1.52 | 3.23 | — | -17.12 | — | — | — |
| Interest Coverage | 0.66 | 0.66 | -5.30 | -11.22 | -23.28 | -19.14 | -6.38 | — | — | -53.08 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.01 | 2.01 | 1.87 | 2.50 | 2.21 | 2.84 | 3.70 | 3.52 | 1.95 | 1.37 |
| Quick Ratio | 2.01 | 2.01 | 1.87 | 2.50 | 2.21 | 2.84 | 3.70 | 3.52 | 1.95 | 1.37 |
| Cash Ratio | 1.55 | 1.55 | 1.55 | 2.03 | 1.76 | 2.39 | 3.24 | 3.05 | 1.44 | 0.87 |
| Asset Turnover | — | 0.50 | 0.50 | 0.47 | 0.45 | 0.35 | 0.27 | 0.38 | 0.60 | 0.98 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 80.35 | 83.81 | 85.10 | 89.92 | 97.64 | 94.21 | 81.46 | 103.90 | 86.58 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 18.2% | 17.6% | — | — | — | — | — | — | — | — |
| FCF Yield | 11.9% | 11.4% | 6.4% | 2.9% | 0.3% | — | 0.1% | — | — | — |
| Buyback Yield | 14.4% | 13.7% | 5.9% | 2.3% | 1.1% | 0.8% | 0.2% | 0.0% | — | — |
| Total Shareholder Yield | 14.4% | 13.7% | 5.9% | 2.3% | 1.1% | 0.8% | 0.2% | 0.0% | — | — |
| Shares Outstanding | — | $93M | $92M | $92M | $89M | $85M | $80M | $66M | $74M | $60M |
Top-line growth stagnation
Based on current market data, PagerDuty trades at a P/S multiple of 1.68, which appears to reflect investor skepticism regarding the company's ability to re-accelerate revenue growth from its current 5.36% pace while navigating a cooling enterprise software spending environment.
The forward P/E of 8.08 suggests that the market is pricing the company as a value-oriented entity rather than a high-growth SaaS player. This valuation multiple warrants caution, as it implies that investors are discounting the potential for significant margin expansion or top-line acceleration in the near term.
As reported in financial statements, PagerDuty's ROIC has struggled to maintain positive territory, fluctuating between -7.1% and 1.8% over the last ten quarters, indicating that the company has yet to achieve a sustainable return on its invested capital base.
The persistent difficulty in generating positive returns on capital suggests that the company's heavy investment in sales and marketing is not yet yielding the expected compounding effect on shareholder value. Investors should monitor whether future product iterations can improve capital efficiency or if the current model remains structurally dilutive.
According to recent quarterly filings, PagerDuty's Days Sales Outstanding (DSO) has remained elevated, averaging approximately 60-70 days, which suggests that the company may be facing longer collection cycles compared to more efficient peers in the software-as-a-service sector.
The lack of significant improvement in asset turnover, which remains stagnant at 0.13, indicates that the company's asset base is not being utilized with increasing intensity. This trend may imply that the platform's growth is becoming more capital-intensive as it attempts to penetrate larger, more complex enterprise accounts.
Based on the most recent quarterly data, PagerDuty maintains a current ratio of 1.95, providing a stable liquidity cushion that appears sufficient to cover short-term obligations despite the ongoing volatility in the company's broader financial performance and cash flow generation.
The consistency of the quick ratio at 1.95 suggests that the company is not overly dependent on inventory liquidation to meet its immediate liabilities. This liquidity position provides management with the necessary flexibility to navigate potential market downturns without immediate recourse to external financing.
The P/E ratio is frequently misapplied to PagerDuty, as it obscures the significant impact of non-recurring tax benefits and stock-based compensation that distort GAAP earnings, making it a poor metric for assessing the company's true underlying operational profitability.
Investors should instead focus on Free Cash Flow (FCF) margins and Calculated Billings to better understand the company's actual cash-generating capacity. Relying on P/E multiples in this context may lead to an inaccurate assessment of the company's valuation relative to its actual economic performance.
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying PD stock.
PagerDuty, Inc.'s current P/E ratio is 5.5x. The historical average is 5.7x.
PagerDuty, Inc.'s current EV/EBITDA is 58.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 61.3x.
PagerDuty, Inc.'s return on equity (ROE) is 83.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -35.3%.
Based on historical data, PagerDuty, Inc. is trading at a P/E of 5.5x. Compare with industry peers and growth rates for a complete picture.
PagerDuty, Inc. has 84.9% gross margin and 1.2% operating margin.
PagerDuty, Inc.'s Debt/EBITDA ratio is 21.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.