Latest Ratios: P/E Ratio 7.4x · EV/EBITDA 8.6x · ROE N/A. (2001–2025 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 | $257M | $374M | $275M | $77M | $79M | $77M | $32M | $26M | $82M | $210M | $183M |
| Enterprise Value | $345M | $462M | $390M | $111M | $173M | $153M | $74M | $38M | $37M | $122M | $90M |
| P/E Ratio → | 7.41 | 10.16 | — | — | — | — | — | — | — | — | 14.93 |
| P/S Ratio | 0.51 | 0.75 | 0.49 | 0.21 | 0.22 | 0.38 | 0.30 | 0.11 | 0.26 | 0.51 | 0.35 |
| P/B Ratio | — | — | — | — | — | — | 1.06 | 0.22 | 0.43 | 0.91 | 0.71 |
| P/FCF | 8.18 | 11.91 | 6.90 | — | 21.56 | — | — | — | — | 5.33 | — |
| P/OCF | 7.39 | 10.76 | 6.13 | 16.06 | 6.91 | — | — | — | — | 5.20 | 851.52 |
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 | — | 0.92 | 0.70 | 0.31 | 0.47 | 0.76 | 0.68 | 0.17 | 0.12 | 0.30 | 0.17 |
| EV / EBITDA | 8.60 | 11.52 | 9.04 | 7.37 | — | — | — | — | — | — | 3.53 |
| EV / EBIT | 10.17 | 69.09 | 11.55 | 8.22 | — | — | — | — | — | — | 5.66 |
| EV / FCF | — | 14.72 | 9.77 | — | 46.90 | — | — | — | — | 3.10 | — |
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 | 14.6% | 14.6% | 12.0% | 11.7% | 7.1% | 5.6% | -12.5% | -6.2% | -1.1% | 0.8% | 7.7% |
| Operating Margin | 6.8% | 6.8% | 6.7% | 2.9% | -4.1% | -11.2% | -74.3% | -32.9% | -10.1% | -7.8% | 3.0% |
| Net Profit Margin | 7.6% | 7.6% | -13.6% | -6.6% | -10.7% | -20.4% | -77.9% | -32.7% | -12.8% | -5.5% | 2.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | -287.4% | -114.4% | -48.4% | -19.1% | -9.2% | 5.0% |
| ROA | 14.8% | 14.8% | -31.4% | -10.3% | -19.4% | -21.6% | -39.5% | -28.1% | -13.9% | -7.1% | 3.3% |
| ROIC | — | — | — | 29.5% | -16.1% | -23.2% | -59.8% | -40.7% | -16.5% | -15.5% | 7.5% |
| ROCE | 19.5% | 19.5% | 28.1% | 9.7% | -13.3% | -18.7% | -52.4% | -35.7% | -13.3% | -11.8% | 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 | — | — | — | — | — | — | 2.80 | 0.67 | — | — | — |
| Debt / EBITDA | 3.80 | 3.80 | 3.69 | 4.98 | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | — | — | 1.37 | 0.11 | -0.23 | -0.38 | -0.36 |
| Net Debt / EBITDA | 2.19 | 2.19 | 2.66 | 2.30 | — | — | — | — | — | — | -3.63 |
| Debt / FCF | — | 2.80 | 2.87 | — | 25.34 | — | — | — | — | -2.23 | — |
| Interest Coverage | 0.38 | 0.38 | 4.93 | 0.90 | -0.39 | -1.15 | -19.27 | -122.73 | -195.21 | -192.68 | 93.33 |
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 | 1.87 | 1.87 | 1.79 | 1.31 | 1.22 | 1.97 | 1.70 | 2.22 | 2.51 | 4.96 | 4.45 |
| Quick Ratio | 1.07 | 1.07 | 0.86 | 0.40 | 0.61 | 1.16 | 1.15 | 1.71 | 1.47 | 3.84 | 2.65 |
| Cash Ratio | 0.75 | 0.75 | 0.55 | 0.30 | 0.32 | 0.31 | 0.61 | 1.42 | 1.02 | 3.24 | 1.71 |
| Asset Turnover | — | 1.73 | 2.50 | 1.38 | 1.83 | 1.01 | 0.59 | 0.94 | 1.09 | 1.38 | 1.54 |
| Inventory Turnover | 6.26 | 6.26 | 6.54 | 2.53 | 5.27 | 3.42 | 3.14 | 9.73 | 4.96 | 8.97 | 4.94 |
| Days Sales Outstanding | — | 9.07 | 11.30 | 10.16 | 17.53 | 88.78 | 31.71 | 11.10 | 21.01 | 6.76 | 26.82 |
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 | — | — | 10.1% | — | — | — | — | — | — | 1.6% | 2.4% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | 36.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 13.5% | 9.8% | — | — | — | — | — | — | — | — | 6.7% |
| FCF Yield | 12.2% | 8.4% | 14.5% | — | 4.6% | — | — | — | — | 18.8% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.2% | 0.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 10.1% | 0.0% | 0.1% | 0.0% | 0.0% | 0.2% | 0.1% | 1.6% | 2.5% |
| Shares Outstanding | — | $34M | $31M | $28M | $25M | $21M | $13M | $12M | $12M | $12M | $12M |
Cyclical Manufacturing Demand Volatility
According to recent market data, RAIL trades at a P/E of 9.36 and an EV/EBITDA of 10.28, suggesting that investors are pricing in significant cyclical risk and skepticism regarding the long-term durability of earnings compared to more diversified industry peers like Trinity Industries and Greenbrier.
The forward P/E of 22.33 indicates that the market anticipates a sharp contraction in near-term earnings, likely reflecting the lumpy nature of project-based railcar deliveries. This valuation discount relative to larger peers appears to be a structural response to the company's historical volatility and its ongoing struggle to achieve consistent, sustainable profitability.
As reported in financial statements, RAIL's gross margin has hovered around 14.61%, a level that underscores the company's limited pricing power and high sensitivity to raw material cost fluctuations in the competitive North American freight car manufacturing market compared to its historical performance.
The persistent struggle to expand operating margins beyond single digits suggests that the Castaños facility transition has yet to yield the expected structural cost advantages. Investors should monitor whether the company can successfully pass through input cost volatility to customers, as current margins leave little room for operational error.
Based on the provided figures, the cash conversion cycle has shown significant volatility, with DIO peaking at 125 days in 2026Q1, which highlights the operational challenges of managing inventory in a project-based manufacturing model that is highly dependent on the timing of large-scale railcar delivery contracts.
The fluctuation in DSO and DIO suggests that working capital management remains a primary driver of liquidity, rather than core operational efficiency. This reliance on delivery timing creates a lumpy cash flow profile that complicates the assessment of the company's underlying operational health.
According to recent filings, the current ratio of 1.81 provides a modest liquidity cushion, yet this must be interpreted with caution given the company's $52.8 million cash position and the inherent instability of its project-based cash flows during periods of industry-wide demand contraction.
The quick ratio, which has dipped as low as 0.40 in recent periods, indicates a heavy reliance on inventory liquidation to meet short-term obligations. This liquidity profile appears vulnerable to any sudden disruption in the production pipeline or a prolonged delay in customer order fulfillment.
The P/E ratio is frequently misapplied to RAIL, as it obscures the significant non-operating distortions and lumpy revenue recognition inherent in a project-based manufacturing business model, often leading to a misleading perception of the company's actual normalized earning power and operational stability.
Analysts should instead prioritize EV/EBITDA or free cash flow metrics to better capture the company's capital-intensive nature and the impact of its debt structure. Relying on P/E ignores the volatility of non-recurring items that frequently decouple reported net income from the firm's core manufacturing performance.
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Quick answers to the most common questions about buying RAIL stock.
FreightCar America, Inc.'s current P/E ratio is 7.4x. The historical average is 22.8x. This places it at the 9th percentile of its historical range.
FreightCar America, Inc.'s current EV/EBITDA is 8.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.4x.
Based on historical data, FreightCar America, Inc. is trading at a P/E of 7.4x. This is at the 9th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
FreightCar America, Inc. has 14.6% gross margin and 6.8% operating margin.
FreightCar America, Inc.'s Debt/EBITDA ratio is 3.8x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.