Latest Ratios: P/E Ratio 19.1x · EV/EBITDA 10.2x · ROE 7.7%. (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 | $6.1B | $5.3B | $4.5B | $4.2B | $4.4B | $4.7B | $3.8B | $5.0B | $4.1B | $4.1B | $3.9B |
| Enterprise Value | $11.5B | $10.8B | $9.7B | $8.7B | $8.2B | $8.3B | $7.0B | $7.8B | $6.5B | $6.5B | $6.2B |
| P/E Ratio → | 19.05 | 17.39 | 14.49 | 18.60 | 18.85 | 19.46 | 24.87 | 23.34 | 19.35 | 21.70 | 20.06 |
| P/S Ratio | 1.80 | 1.58 | 1.32 | 1.45 | 1.66 | 1.98 | 1.79 | 2.35 | 2.06 | 2.02 | 2.01 |
| P/B Ratio | 1.41 | 1.29 | 1.20 | 1.28 | 1.58 | 1.75 | 1.47 | 1.93 | 1.63 | 1.68 | 1.65 |
| P/FCF | — | — | — | — | — | — | — | — | 117.04 | 48.97 | — |
| P/OCF | 5.44 | 4.75 | 5.84 | 10.11 | 6.52 | 8.92 | 6.76 | 9.15 | 6.50 | 6.81 | 6.98 |
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 | — | 3.19 | 2.82 | 2.98 | 3.10 | 3.46 | 3.25 | 3.66 | 3.27 | 3.21 | 3.23 |
| EV / EBITDA | 10.20 | 9.52 | 9.63 | 10.19 | 10.09 | 10.61 | 9.63 | 10.19 | 8.94 | 8.90 | 9.38 |
| EV / EBIT | 20.87 | 19.48 | 18.66 | 21.64 | 19.97 | 22.24 | 26.37 | 22.31 | 19.43 | 17.30 | 18.91 |
| EV / FCF | — | — | — | — | — | — | — | — | 185.96 | 77.73 | — |
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 | 33.6% | 33.6% | 46.1% | 46.5% | 49.5% | 52.8% | 53.3% | 55.9% | 56.7% | 55.2% | 53.0% |
| Operating Margin | 16.4% | 16.4% | 14.9% | 13.5% | 15.0% | 15.8% | 12.5% | 16.6% | 17.4% | 18.9% | 17.7% |
| Net Profit Margin | 9.1% | 9.1% | 9.1% | 7.8% | 8.8% | 10.2% | 7.2% | 10.1% | 10.6% | 9.3% | 10.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.7% | 7.7% | 8.8% | 7.5% | 8.5% | 9.2% | 6.0% | 8.4% | 8.6% | 7.9% | 8.4% |
| ROA | 2.3% | 2.3% | 2.6% | 2.1% | 2.3% | 2.6% | 1.8% | 2.6% | 2.7% | 2.4% | 2.6% |
| ROIC | 4.5% | 4.5% | 4.6% | 4.1% | 4.6% | 4.7% | 3.6% | 5.2% | 5.3% | 6.0% | 5.6% |
| ROCE | 4.6% | 4.6% | 4.8% | 4.2% | 4.5% | 4.5% | 3.3% | 4.6% | 4.7% | 5.3% | 5.0% |
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 | 1.34 | 1.34 | 1.36 | 1.34 | 1.43 | 1.33 | 1.30 | 1.08 | 1.01 | 1.00 | 1.00 |
| Debt / EBITDA | 4.89 | 4.89 | 5.13 | 5.22 | 4.89 | 4.61 | 4.68 | 3.67 | 3.48 | 3.35 | 3.56 |
| Net Debt / Equity | — | 1.32 | 1.36 | 1.34 | 1.37 | 1.31 | 1.20 | 1.07 | 0.96 | 0.99 | 1.00 |
| Net Debt / EBITDA | 4.82 | 4.82 | 5.12 | 5.22 | 4.69 | 4.54 | 4.33 | 3.63 | 3.31 | 3.29 | 3.55 |
| Debt / FCF | — | — | — | — | — | — | — | — | 68.91 | 28.76 | — |
| Interest Coverage | 2.38 | 2.38 | 2.46 | 2.32 | 2.63 | 2.72 | 1.94 | 2.72 | 2.70 | 3.11 | 2.93 |
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 | 1.08 | 1.08 | 0.92 | 0.84 | 0.81 | 0.90 | 0.88 | 0.96 | 0.81 | 1.22 | 0.80 |
| Quick Ratio | 0.95 | 0.95 | 0.81 | 0.74 | 0.75 | 0.79 | 0.80 | 0.78 | 0.71 | 1.04 | 0.66 |
| Cash Ratio | 0.08 | 0.08 | 0.01 | 0.00 | 0.11 | 0.07 | 0.32 | 0.06 | 0.15 | 0.09 | 0.01 |
| Asset Turnover | — | 0.25 | 0.27 | 0.26 | 0.25 | 0.25 | 0.24 | 0.25 | 0.25 | 0.26 | 0.26 |
| Inventory Turnover | 18.05 | 18.05 | 16.26 | 13.84 | 14.06 | 14.51 | 13.90 | 9.76 | 10.27 | 11.55 | 11.01 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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 | 3.9% | 4.2% | 4.4% | 4.2% | 3.6% | 3.2% | 3.7% | 2.7% | 3.1% | 2.9% | 2.9% |
| Payout Ratio | 73.5% | 73.5% | 63.9% | 78.5% | 67.8% | 61.5% | 90.3% | 62.6% | 59.0% | 63.1% | 57.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.2% | 5.8% | 6.9% | 5.4% | 5.3% | 5.1% | 4.0% | 4.3% | 5.2% | 4.6% | 5.0% |
| FCF Yield | — | — | — | — | — | — | — | — | 0.9% | 2.0% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 3.9% | 4.2% | 4.4% | 4.2% | 4.0% | 3.4% | 3.7% | 2.7% | 3.1% | 2.9% | 2.9% |
| Shares Outstanding | — | $111M | $104M | $98M | $90M | $90M | $90M | $90M | $89M | $89M | $89M |
Regulatory lag and CAPEX
According to current market data, POR trades at a forward P/E of 15.49, which appears to reflect investor skepticism regarding the company's ability to achieve authorized returns amidst aggressive decarbonization mandates and the persistent earnings volatility observed in recent quarterly filings.
The current valuation suggests that the market is pricing POR as a defensive bond proxy, yet the volatility in recent earnings may be causing a valuation discount relative to peers with more stable regulatory outcomes. Investors should monitor whether the forward P/E multiple expands as the company demonstrates better alignment between its capital expenditure program and authorized rate base growth.
Based on reported financial data, POR's ROE has struggled to maintain consistency, dropping to 1.1% in 2026Q1, which suggests a significant and concerning gap between the company's actual performance and the regulatory authorized returns typically required to support a utility's valuation.
This persistent under-earning appears to indicate that regulatory lag is effectively eroding the company's profitability, likely due to the timing mismatch between heavy infrastructure investment and rate recovery. Such a trend warrants further investigation into whether the OPUC's current rate-making mechanisms are sufficient to compensate for the utility's accelerated capital deployment.
As reported in recent balance sheet filings, the debt-to-capital ratio has remained elevated near 0.55, signaling that the company's aggressive infrastructure investment cycle is placing sustained pressure on its credit quality and limiting its financial flexibility in a high-interest-rate environment.
The interest coverage ratio of 1.78x in 2026Q1 suggests a narrowing margin of safety, which may indicate that the company is increasingly reliant on external financing to sustain its operations. This leverage profile appears vulnerable, particularly if the utility faces further delays in recovering its capital costs through the regulatory process.
According to historical cash flow statements, the dividend payout ratio reached 133.3% in 2026Q1, a level that appears unsustainable and suggests that the company is funding its dividend distributions through external capital rather than internally generated cash flows.
The high payout ratio relative to earnings indicates that the dividend may be at risk if the company cannot improve its operational cash flow generation. Investors should monitor whether management prioritizes dividend stability over the necessary liquidity required to fund the ongoing grid modernization and decarbonization initiatives.
Market participants frequently misapply standard P/E multiples to POR, failing to account for the distortive impact of regulatory assets and liabilities that artificially depress reported earnings and obscure the underlying cash-generating capacity of the utility's regulated rate base.
Using a standard P/E ratio for a utility undergoing massive capital transition often leads to an inaccurate assessment of value, as it ignores the 'lumpy' nature of rate case recoveries. Analysts should instead focus on the Price-to-Rate-Base or adjusted cash flow metrics to better capture the true economic value of the company's infrastructure investments.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying POR stock.
Portland General Electric Company's current P/E ratio is 19.1x. The historical average is 18.1x. This places it at the 60th percentile of its historical range.
Portland General Electric Company's current EV/EBITDA is 10.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.2x.
Portland General Electric Company's return on equity (ROE) is 7.7%. The historical average is 8.5%.
Based on historical data, Portland General Electric Company is trading at a P/E of 19.1x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Portland General Electric Company's current dividend yield is 3.86% with a payout ratio of 73.5%.
Portland General Electric Company has 33.6% gross margin and 16.4% operating margin. Operating margin between 10-20% is typical for established companies.
Portland General Electric Company's Debt/EBITDA ratio is 4.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.