Latest Ratios: P/E Ratio 33.8x · EV/EBITDA 14.4x · ROE 22.4%. (2014–2025 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 | $3.1B | $2.6B | $1.4B | $843M | $841M | $977M | $495M | $781M | $711M | $1.6B | — |
| Enterprise Value | $3.1B | $2.6B | $1.5B | $1.0B | $1.1B | $1.2B | $851M | $1.2B | $1.1B | $1.8B | — |
| P/E Ratio → | 33.81 | 27.13 | 5.61 | 18.49 | 54.96 | 21.90 | — | — | 54.55 | 51.60 | — |
| P/S Ratio | 1.27 | 1.05 | 0.61 | 0.32 | 0.36 | 0.41 | 0.22 | 0.32 | 0.30 | 0.71 | — |
| P/B Ratio | 7.73 | 6.20 | 3.33 | 1.69 | 1.84 | 1.88 | 1.05 | 1.55 | 1.33 | 2.81 | — |
| P/FCF | 16.41 | 13.59 | 56.11 | 8.99 | 12.58 | 7.31 | 12.72 | 27.22 | — | — | — |
| P/OCF | 12.94 | 10.71 | 27.11 | 6.66 | 9.18 | 6.17 | 8.89 | 14.88 | — | 48.53 | — |
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 | — | 1.06 | 0.65 | 0.38 | 0.46 | 0.50 | 0.37 | 0.48 | 0.47 | 0.80 | — |
| EV / EBITDA | 14.35 | 11.90 | 14.68 | 8.79 | 15.49 | 10.35 | 19.21 | 15.24 | 15.20 | 15.12 | — |
| EV / EBIT | 16.29 | 18.26 | 4.18 | 11.62 | 29.17 | 13.60 | — | 72.83 | 15.88 | 25.75 | — |
| EV / FCF | — | 13.71 | 59.73 | 10.77 | 16.03 | 8.97 | 21.88 | 40.35 | — | — | — |
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 | 15.0% | 15.0% | 12.5% | 12.0% | 10.6% | 12.2% | 10.0% | 10.5% | 11.7% | 13.0% | 11.9% |
| Operating Margin | 7.8% | 7.8% | 3.3% | 3.4% | 1.6% | 3.5% | 0.2% | 1.3% | 1.2% | 3.6% | 3.8% |
| Net Profit Margin | 3.9% | 3.9% | 10.8% | 1.7% | 0.7% | 1.9% | -1.3% | -0.5% | 0.5% | 1.4% | 1.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.4% | 22.4% | 55.2% | 9.5% | 3.1% | 9.0% | -6.2% | -2.5% | 2.4% | 7.5% | 12.1% |
| ROA | 7.9% | 7.9% | 19.6% | 3.3% | 1.2% | 3.5% | -2.3% | -1.0% | 1.0% | 2.9% | 3.8% |
| ROIC | 29.9% | 29.9% | 10.0% | 9.8% | 3.9% | 8.0% | 0.4% | 2.5% | 2.4% | 9.6% | 11.4% |
| ROCE | 27.0% | 27.0% | 10.0% | 10.6% | 4.5% | 10.1% | 0.5% | 3.2% | 3.0% | 11.8% | 13.5% |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | 0.13 | 0.27 | 0.38 | 0.55 | 0.45 | 0.78 | 0.75 | 0.79 | 0.40 | 0.98 |
| Debt / EBITDA | 0.26 | 0.26 | 1.12 | 1.63 | 3.62 | 2.03 | 8.30 | 5.00 | 5.72 | 1.91 | 2.64 |
| Net Debt / Equity | — | 0.05 | 0.21 | 0.33 | 0.50 | 0.43 | 0.75 | 0.75 | 0.77 | 0.37 | 0.94 |
| Net Debt / EBITDA | 0.10 | 0.10 | 0.89 | 1.45 | 3.33 | 1.91 | 8.04 | 4.96 | 5.56 | 1.76 | 2.53 |
| Debt / FCF | — | 0.11 | 3.62 | 1.77 | 3.44 | 1.66 | 9.15 | 13.13 | — | — | 9.07 |
| Interest Coverage | 7.68 | 7.68 | 2.79 | 3.10 | 2.18 | 4.84 | 0.16 | 0.94 | 1.09 | 3.99 | 2.48 |
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 | 1.51 | 1.51 | 1.72 | 1.67 | 1.68 | 1.74 | 1.82 | 1.86 | 2.02 | 1.77 | 1.60 |
| Quick Ratio | 0.49 | 0.49 | 0.43 | 0.49 | 0.49 | 0.64 | 0.61 | 0.68 | 0.79 | 0.67 | 0.62 |
| Cash Ratio | 0.07 | 0.07 | 0.05 | 0.04 | 0.04 | 0.03 | 0.03 | 0.01 | 0.03 | 0.04 | 0.03 |
| Asset Turnover | — | 2.05 | 1.96 | 1.87 | 1.73 | 1.92 | 1.74 | 1.78 | 1.69 | 1.81 | 2.17 |
| Inventory Turnover | 3.97 | 3.97 | 3.46 | 3.53 | 3.31 | 4.34 | 3.82 | 4.19 | 4.09 | 4.36 | 5.21 |
| Days Sales Outstanding | — | 24.83 | 23.36 | 31.34 | 33.66 | 32.70 | 36.75 | 38.49 | 40.91 | 39.15 | 34.35 |
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 | 0.4% | 0.5% | 13.3% | 1.4% | 1.5% | 0.7% | 1.9% | 1.6% | 1.8% | 0.4% | — |
| Payout Ratio | 13.6% | 13.6% | 74.5% | 26.7% | 81.6% | 14.9% | — | — | 98.5% | 20.3% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.0% | 3.7% | 17.8% | 5.4% | 1.8% | 4.6% | — | — | 1.8% | 1.9% | — |
| FCF Yield | 6.1% | 7.4% | 1.8% | 11.1% | 7.9% | 13.7% | 7.9% | 3.7% | — | — | — |
| Buyback Yield | 3.5% | 4.2% | 8.7% | 0.7% | 8.3% | 0.4% | 0.2% | 1.1% | 7.5% | 0.0% | — |
| Total Shareholder Yield | 3.9% | 4.7% | 22.0% | 2.1% | 9.8% | 1.1% | 2.1% | 2.7% | 9.3% | 0.4% | — |
| Shares Outstanding | — | $50M | $55M | $59M | $61M | $65M | $63M | $63M | $65M | $62M | $64M |
Cyclical RV market exposure
According to recent market data, REVG trades at a forward P/E of 17.18, suggesting that investors are pricing in a transition toward higher-margin segments despite the historical volatility inherent in the company's cyclical recreation and project-based fire and emergency vehicle manufacturing business model.
The current valuation appears to be a reflection of the market's attempt to reconcile the company's improved balance sheet with the inherent cyclicality of its remaining business units. Investors should monitor whether the forward earnings multiple remains supported as the company moves further away from its legacy transit bus operations.
Based on reported figures, ROIC has trended toward 9.0% in 2025Q3, indicating a gradual improvement in capital efficiency as the company sheds lower-margin assets and focuses on its core, specialized vehicle manufacturing segments that require less intensive capital reinvestment than its previous transit bus operations.
The upward trajectory in ROIC suggests that management's focus on operational simplification is beginning to yield tangible returns on invested capital. However, sustaining these levels will likely depend on the company's ability to maintain pricing power in the fire and emergency segment while managing the cyclical downturn in recreation vehicle demand.
As reported in financial statements, the cash conversion cycle remains elevated at 335 days in 2025Q3, primarily driven by high days inventory outstanding of 369 days, which highlights the significant working capital burden associated with the company's assembly-heavy, project-based manufacturing model for specialized municipal vehicles.
The persistent length of the cash conversion cycle suggests that the company remains highly sensitive to supply chain disruptions and chassis availability. Investors should monitor whether management can optimize inventory turnover as the company continues to refine its manufacturing footprint and reduce its reliance on complex, multi-brand assembly processes.
According to recent quarterly filings, the debt-to-equity ratio has improved to 0.29 as of 2025Q3, signaling a significant reduction in financial risk compared to previous periods and providing the company with substantial balance sheet optionality to navigate potential cyclical headwinds in the recreation vehicle market.
The current leverage profile appears healthy and provides a defensive buffer against the inherent volatility of the company's order-driven revenue streams. This conservative stance may allow management to prioritize share repurchases or internal investments without the immediate pressure of significant debt service obligations.
The P/E ratio is frequently misapplied to REVG because it fails to account for the lumpy nature of municipal project-based revenue and the significant impact of non-recurring divestiture gains on reported net income, which can distort the perceived earnings power of the company's core manufacturing operations.
Analysts should prioritize EV/EBITDA or free cash flow multiples over P/E to better capture the underlying cash-generating capacity of the business. Relying solely on P/E may lead to an inaccurate assessment of the company's valuation, as it does not adequately reflect the volatility of working capital changes or the impact of strategic portfolio shifts.
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Quick answers to the most common questions about buying REVG stock.
REV Group, Inc.'s current P/E ratio is 33.8x. The historical average is 33.5x. This places it at the 57th percentile of its historical range.
REV Group, Inc.'s current EV/EBITDA is 14.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.0x.
REV Group, Inc.'s return on equity (ROE) is 22.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 10.3%.
Based on historical data, REV Group, Inc. is trading at a P/E of 33.8x. This is at the 57th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
REV Group, Inc.'s current dividend yield is 0.40% with a payout ratio of 13.6%.
REV Group, Inc. has 15.0% gross margin and 7.8% operating margin.
REV Group, Inc.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.