Latest Ratios: P/E Ratio 151.3x · EV/EBITDA 67.1x · ROE 3.1%. (2018–2025 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 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.4B | $3.1B | $2.5B | $2.9B | $2.5B | $2.8B | — | — | — |
| Enterprise Value | $3.0B | $2.6B | $2.0B | $2.5B | $2.2B | $2.5B | — | — | — |
| P/E Ratio → | 151.28 | 131.72 | 177.73 | 121.21 | — | — | — | — | — |
| P/S Ratio | 1.62 | 1.44 | 1.41 | 1.73 | 1.85 | 2.89 | — | — | — |
| P/B Ratio | 4.44 | 3.86 | 3.59 | 4.73 | 4.84 | 6.20 | — | — | — |
| P/FCF | 21.15 | 18.84 | 23.55 | 35.60 | 53.38 | 51.18 | — | — | — |
| P/OCF | 21.00 | 18.70 | 22.47 | 35.55 | 53.26 | 50.67 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.22 | 1.13 | 1.50 | 1.60 | 2.60 | — | — | — |
| EV / EBITDA | 67.08 | 58.58 | 81.25 | 91.62 | — | — | — | — | — |
| EV / EBIT | 86.49 | 75.53 | 116.02 | 120.60 | — | — | — | — | — |
| EV / FCF | — | 15.94 | 18.90 | 30.87 | 46.24 | 46.15 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.9% | 9.9% | 10.2% | 9.7% | 9.9% | 6.6% | 10.1% | 8.7% | 8.6% |
| Operating Margin | 1.6% | 1.6% | 1.0% | 1.2% | -1.4% | -22.5% | 3.1% | 2.0% | 0.3% |
| Net Profit Margin | 1.1% | 1.1% | 0.8% | 1.4% | -0.6% | -19.5% | 3.8% | 1.0% | -0.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.1% | 3.1% | 2.2% | 4.1% | -1.8% | -63.4% | 24.9% | 8.5% | -3.5% |
| ROA | 1.8% | 1.8% | 1.3% | 2.6% | -1.2% | -37.1% | 10.4% | 3.2% | -1.2% |
| ROIC | 9.9% | 9.9% | 6.0% | 7.6% | -8.0% | -121.3% | 19.4% | 11.1% | 1.4% |
| ROCE | 4.6% | 4.6% | 2.6% | 3.6% | -3.7% | -64.1% | 15.1% | 10.6% | 1.5% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.10 | 0.23 | 0.40 | 0.78 |
| Debt / EBITDA | 0.22 | 0.22 | 0.23 | 0.30 | — | — | 1.24 | 2.46 | 20.78 |
| Net Debt / Equity | — | -0.59 | -0.71 | -0.63 | -0.65 | -0.61 | -0.35 | -0.04 | 0.32 |
| Net Debt / EBITDA | -10.65 | -10.65 | -20.02 | -14.02 | — | — | -1.87 | -0.22 | 8.65 |
| Debt / FCF | — | -2.90 | -4.66 | -4.73 | -7.15 | -5.03 | -1.32 | -0.20 | 5.55 |
| Interest Coverage | — | — | — | — | — | -203.21 | 13.24 | 2.32 | 0.34 |
Net cash position: cash ($480M) exceeds total debt ($10M)
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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.60 | 1.60 | 1.86 | 1.81 | 2.09 | 2.35 | 1.29 | 1.12 | 1.14 |
| Quick Ratio | 1.60 | 1.60 | 1.86 | 1.81 | 2.09 | 2.35 | 1.29 | 1.12 | 1.14 |
| Cash Ratio | 0.84 | 0.84 | 1.09 | 1.01 | 1.32 | 1.68 | 0.58 | 0.41 | 0.39 |
| Asset Turnover | — | 1.55 | 1.53 | 1.66 | 1.71 | 1.41 | 2.48 | 2.91 | 2.64 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 68.93 | 66.46 | 64.02 | 51.01 | 44.35 | 44.28 | 35.90 | 39.50 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.7% | 0.8% | 0.6% | 0.8% | — | — | — | — | — |
| FCF Yield | 4.7% | 5.3% | 4.2% | 2.8% | 1.9% | 2.0% | — | — | — |
| Buyback Yield | 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% | — | — | — |
| Shares Outstanding | — | $129M | $126M | $125M | $111M | $108M | $106M | $106M | $103M |
Regulatory reimbursement model shifts
Based on reported figures, PRVA trades at a forward P/E of 104.58, suggesting that market participants are pricing in significant future earnings growth that may not be fully supported by the company's current 1.61% operating margin and historical volatility in net income generation.
The current valuation multiples appear to reflect a growth-oriented narrative that assumes rapid scaling of the provider network will eventually lead to meaningful margin expansion. Investors should monitor whether this premium is justified, as the forward EV/EBITDA of 4.84 implies a sharp expected improvement in profitability that remains unproven in the company's recent quarterly performance.
According to recent financial statements, PRVA's ROIC has struggled to maintain momentum, peaking at 3.2% in 2025Q3 before declining to 0.0% in 2026Q1, which indicates that the company is currently failing to generate returns that exceed the typical cost of capital for healthcare services firms.
The inconsistent trend in ROIC suggests that the company's inorganic growth strategy, characterized by increasing goodwill, has yet to yield the expected synergies or operational efficiencies. This lack of compounding returns warrants further investigation into whether the current integration model can effectively convert invested capital into sustainable shareholder value.
As reported in quarterly filings, PRVA's DSO has shown significant fluctuations, reaching 38,310 in 2026Q1, which highlights the extreme lumpy nature of cash collections and the inherent difficulty in managing working capital within a value-based care model that relies on periodic shared savings distributions.
The erratic nature of these efficiency metrics suggests that the company's cash conversion cycle is highly sensitive to payer payment schedules rather than internal operational improvements. Investors should be cautious, as these swings make it difficult to assess the underlying health of the company's accounts receivable and overall liquidity management.
Based on reported figures, PRVA maintains a current ratio of 1.61 as of 2026Q1, which, combined with a minimal debt-to-equity ratio of 0.01%, suggests a fortress-like balance sheet that provides a necessary cushion against the operational volatility inherent in the physician enablement business model.
This liquidity position appears sufficient to navigate potential regulatory headwinds or temporary cash flow disruptions without the need for external financing. However, the company's reliance on cash reserves to fund operations during periods of negative free cash flow suggests that this capital must be managed prudently to support long-term growth.
The P/E ratio is frequently misapplied to PRVA, as it fails to account for the significant impact of non-cash stock-based compensation and the lumpy recognition of shared savings, which together distort the company's true earnings power and mask the underlying cash-generating capacity of the business.
Analysts should instead focus on metrics like 'Care Margin' or 'Platform Contribution' to better normalize for the accounting nuances of the physician enablement sector. Relying on standard P/E multiples may lead to an inaccurate assessment of the company's valuation, as it ignores the structural differences between service-based revenue and performance-based risk sharing.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying PRVA stock.
Privia Health Group, Inc.'s current P/E ratio is 151.3x. The historical average is 143.6x. This places it at the 67th percentile of its historical range.
Privia Health Group, Inc.'s current EV/EBITDA is 67.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 77.1x.
Privia Health Group, Inc.'s return on equity (ROE) is 3.1%. The historical average is -3.2%.
Based on historical data, Privia Health Group, Inc. is trading at a P/E of 151.3x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Privia Health Group, Inc. has 9.9% gross margin and 1.6% operating margin.
Privia Health Group, Inc.'s Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.