Latest Ratios: P/E Ratio -18.7x · EV/EBITDA N/A · ROE -24.5%. (1996–2025 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 | $261M | $232M | $167M | $108M | $47M | $80M | $74M | $110M | $28M | $43M | $45M |
| Enterprise Value | $254M | $225M | $143M | $106M | $49M | $80M | $76M | $117M | $30M | $46M | $54M |
| P/E Ratio → | -18.75 | — | — | 222.66 | — | 90.43 | 25.96 | 47.89 | — | — | — |
| P/S Ratio | 4.23 | 3.77 | 2.82 | 1.20 | 0.66 | 1.11 | 0.70 | 1.49 | 0.56 | 0.86 | 0.88 |
| P/B Ratio | 5.18 | 4.64 | 2.67 | 2.74 | 1.25 | 1.98 | 2.27 | 3.75 | 1.07 | 1.57 | 1.47 |
| P/FCF | — | — | — | 24.35 | — | — | 13.04 | — | 52.76 | 14242.30 | — |
| P/OCF | — | — | — | 16.69 | — | — | 10.00 | — | 14.21 | 96.67 | 435.30 |
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 | — | 3.65 | 2.41 | 1.19 | 0.69 | 1.11 | 0.72 | 1.59 | 0.61 | 0.91 | 1.05 |
| EV / EBITDA | — | — | — | 32.00 | — | — | 15.44 | 27.08 | — | — | — |
| EV / EBIT | — | — | — | 84.54 | — | — | 22.65 | 35.36 | — | — | — |
| EV / FCF | — | — | — | 23.99 | — | — | 13.45 | — | 57.48 | 15170.30 | — |
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 | 9.6% | 9.6% | 0.0% | 18.2% | 13.6% | 9.5% | 15.1% | 21.7% | 17.1% | 17.3% | 13.8% |
| Operating Margin | -19.0% | -19.0% | -26.5% | 0.8% | -7.6% | -9.4% | 3.2% | 4.0% | -7.3% | -9.5% | -30.8% |
| Net Profit Margin | -22.3% | -22.3% | -33.8% | 0.5% | -5.4% | 1.2% | 2.7% | 3.2% | -2.9% | -7.4% | -26.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -24.5% | -24.5% | -39.3% | 1.3% | -9.8% | 2.3% | 9.3% | 8.4% | -5.3% | -12.7% | -35.6% |
| ROA | -14.9% | -14.9% | -22.7% | 0.6% | -5.1% | 1.1% | 3.9% | 3.7% | -2.4% | -5.9% | -18.1% |
| ROIC | -21.7% | -21.7% | -30.9% | 1.5% | -10.1% | -13.4% | 7.0% | 6.8% | -9.2% | -10.2% | -25.6% |
| ROCE | -16.7% | -16.7% | -24.5% | 1.5% | -10.8% | -13.9% | 7.6% | 7.7% | -9.5% | -10.7% | -27.6% |
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 | 0.09 | 0.09 | 0.08 | 0.15 | 0.09 | 0.11 | 0.32 | 0.25 | 0.14 | 0.14 | 0.29 |
| Debt / EBITDA | — | — | — | 1.76 | — | — | 2.08 | 1.72 | — | — | — |
| Net Debt / Equity | — | -0.15 | -0.39 | -0.04 | 0.04 | 0.01 | 0.07 | 0.24 | 0.10 | 0.10 | 0.28 |
| Net Debt / EBITDA | — | — | — | -0.49 | — | — | 0.47 | 1.63 | — | — | — |
| Debt / FCF | — | — | — | -0.37 | — | — | 0.41 | — | 4.72 | 928.00 | — |
| Interest Coverage | -37.37 | -37.37 | -27.20 | 3.02 | -19.51 | -10.33 | 4.85 | 5.16 | -6.09 | -21.62 | -32.38 |
Net cash position: cash ($12M) exceeds total debt ($4M)
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 | 1.61 | 1.61 | 2.29 | 1.18 | 1.04 | 1.16 | 1.11 | 1.00 | 0.69 | 0.88 | 0.87 |
| Quick Ratio | 1.61 | 1.61 | 2.23 | 1.13 | 1.00 | 1.13 | 1.09 | 0.98 | 0.67 | 0.86 | 0.85 |
| Cash Ratio | 0.52 | 0.52 | 1.32 | 0.29 | 0.08 | 0.17 | 0.24 | 0.02 | 0.04 | 0.05 | 0.01 |
| Asset Turnover | — | 0.70 | 0.61 | 1.14 | 1.00 | 0.93 | 1.34 | 1.10 | 0.86 | 0.84 | 0.78 |
| Inventory Turnover | — | — | 43.79 | 63.52 | 74.93 | 96.13 | 146.78 | 118.16 | 91.49 | 104.70 | 119.28 |
| Days Sales Outstanding | — | 118.42 | 102.30 | 73.84 | 79.75 | 102.98 | 83.48 | 105.15 | 79.87 | 91.58 | 82.89 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 0.4% | — | 1.1% | 3.9% | 2.1% | — | — | — |
| FCF Yield | — | — | — | 4.1% | — | — | 7.7% | — | 1.9% | 0.0% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $18M | $15M | $14M | $13M | $13M | $12M | $12M | $12M | $12M | $12M |
Liquidity and capital erosion
According to recent market data, PESI trades at a P/S multiple of 3.69, which appears disconnected from its negative TTM P/E of -16.33, suggesting that investors are pricing the equity as a speculative option on future medical technology rather than a traditional waste management service provider.
The absence of a positive P/E or EV/EBITDA multiple highlights the market's difficulty in valuing the company based on current cash flows. This valuation profile suggests that the stock is currently driven by sentiment regarding the Micromill technology rather than the underlying performance of the core environmental services business.
As reported in financial statements, the company's ROIC has remained consistently negative, reaching -13.5% in 2026Q1, which indicates that the firm is currently destroying shareholder value rather than compounding it through its specialized waste treatment and decommissioning projects.
The inability to generate a positive return on capital suggests that the high fixed-cost base of the treatment facilities is not being adequately leveraged by current revenue volumes. This trend warrants further investigation into whether the current capital allocation strategy is sustainable without a fundamental shift in facility utilization.
Based on quarterly data, the company's asset turnover ratio has languished at 0.13 in 2026Q1, reflecting a structural inability to generate sufficient revenue from its existing asset base compared to industry peers who typically maintain higher utilization rates through more consistent project pipelines.
The fluctuation in Days Sales Outstanding, which peaked at 151 days in 2026Q1, suggests significant challenges in converting government-contracted work into cash. This inefficiency in the cash conversion cycle exacerbates the company's liquidity constraints and highlights the risks inherent in project-based revenue recognition.
According to recent SEC filings, the company's current ratio has tightened to 1.25 in 2026Q1, a significant decline from the 2.29 level observed in 2024Q4, indicating that the firm's ability to cover short-term obligations is deteriorating alongside its shrinking cash reserves.
The rapid depletion of liquidity suggests that the company may face a funding gap if operating losses continue at current levels. Investors should monitor the cash burn rate closely, as the current liquidity position provides a limited runway for the company to achieve its strategic objectives.
Based on an analysis of the business model, the P/S ratio is the most commonly misapplied metric for PESI, as it obscures the high fixed-cost nature of the treatment facilities and the lumpy, project-based revenue recognition inherent in government environmental cleanup contracts.
Using a revenue multiple ignores the fact that incremental revenue does not necessarily translate to profit due to the high overhead required to maintain regulatory compliance. A more appropriate metric would be a risk-adjusted valuation of the backlog or a sum-of-the-parts analysis that separates the speculative medical segment from the core waste business.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying PESI stock.
Perma-Fix Environmental Services, Inc.'s current P/E ratio is -18.7x. The historical average is 33.3x.
Perma-Fix Environmental Services, Inc.'s return on equity (ROE) is -24.5%. The historical average is -6.5%.
Based on historical data, Perma-Fix Environmental Services, Inc. is trading at a P/E of -18.7x. Compare with industry peers and growth rates for a complete picture.
Perma-Fix Environmental Services, Inc. has 9.6% gross margin and -19.0% operating margin.