Latest Ratios: P/E Ratio 18.2x · EV/EBITDA 13.1x · ROE 12.0%. (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 | $245M | $231M | $229M | $172M | $192M | $186M | $191M | $236M | $206M | $207M | $113M |
| Enterprise Value | $391M | $378M | $377M | $311M | $324M | $325M | $315M | $338M | $276M | $269M | $146M |
| P/E Ratio → | 18.22 | 17.40 | 19.46 | 15.18 | — | 18.44 | 18.04 | 27.07 | 28.12 | 33.22 | 19.49 |
| P/S Ratio | 2.57 | 2.43 | 2.71 | 1.76 | 2.28 | 2.47 | 2.78 | 3.47 | 3.14 | 3.33 | 1.91 |
| P/B Ratio | 2.13 | 2.04 | 2.12 | 1.70 | 2.06 | 1.87 | 2.15 | 2.84 | 2.58 | 3.45 | 2.03 |
| P/FCF | 29.77 | 28.15 | — | — | — | — | — | — | — | — | — |
| P/OCF | 8.45 | 7.99 | 13.15 | 7.22 | 12.35 | 16.08 | 14.90 | 16.07 | 15.22 | 15.97 | 7.58 |
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 | — | 3.96 | 4.45 | 3.20 | 3.85 | 4.32 | 4.58 | 4.97 | 4.21 | 4.31 | 2.47 |
| EV / EBITDA | 13.08 | 12.63 | 13.66 | 11.25 | 13.45 | 13.86 | 14.81 | 22.58 | 14.75 | 14.88 | 8.63 |
| EV / EBIT | 21.21 | 15.80 | 17.16 | 15.26 | — | 18.14 | 24.93 | 22.58 | 21.78 | 22.46 | 13.15 |
| EV / FCF | — | 45.99 | — | — | — | — | — | — | — | — | — |
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 | 34.5% | 34.5% | 35.8% | 30.5% | 31.1% | 33.9% | 41.0% | 31.0% | 31.2% | 52.7% | 53.4% |
| Operating Margin | 19.4% | 19.4% | 20.2% | 18.1% | 17.7% | 19.7% | 19.1% | 10.8% | 17.7% | 18.7% | 19.0% |
| Net Profit Margin | 13.9% | 13.9% | 13.9% | 11.6% | -37.7% | 13.4% | 15.1% | 12.8% | 11.1% | 10.0% | 9.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.0% | 12.0% | 11.3% | 11.7% | -32.9% | 10.7% | 12.1% | 10.7% | 10.5% | 10.8% | 10.7% |
| ROA | 4.1% | 4.1% | 3.8% | 3.8% | -10.6% | 3.4% | 3.8% | 3.6% | 3.6% | 3.6% | 3.7% |
| ROIC | 5.4% | 5.4% | 5.2% | 5.7% | 4.8% | 4.9% | 5.0% | 3.3% | 6.4% | 8.3% | 9.8% |
| ROCE | 6.2% | 6.2% | 6.1% | 6.6% | 5.4% | 5.4% | 5.2% | 3.4% | 6.4% | 7.6% | 8.6% |
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 | 1.31 | 1.31 | 1.37 | 1.40 | 1.47 | 1.41 | 1.39 | 1.24 | 0.88 | 1.02 | 0.60 |
| Debt / EBITDA | 4.98 | 4.98 | 5.39 | 5.10 | 5.68 | 5.99 | 5.83 | 6.91 | 3.76 | 3.40 | 1.99 |
| Net Debt / Equity | — | 1.29 | 1.37 | 1.39 | 1.42 | 1.39 | 1.39 | 1.22 | 0.88 | 1.02 | 0.59 |
| Net Debt / EBITDA | 4.90 | 4.90 | 5.35 | 5.05 | 5.48 | 5.93 | 5.81 | 6.80 | 3.75 | 3.39 | 1.95 |
| Debt / FCF | — | 17.84 | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 3.65 | 3.65 | 3.38 | 3.63 | -8.59 | 4.42 | 3.15 | 4.14 | 5.14 | 6.24 | 6.79 |
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 | 1.03 | 1.03 | 0.87 | 0.81 | 1.59 | 0.97 | 0.87 | 0.76 | 0.65 | 1.09 | 0.54 |
| Quick Ratio | 1.03 | 1.03 | 0.52 | 0.42 | 0.78 | 0.62 | 0.46 | 0.41 | 0.29 | 0.48 | 0.25 |
| Cash Ratio | 0.10 | 0.10 | 0.03 | 0.05 | 0.22 | 0.06 | 0.02 | 0.08 | 0.01 | 0.00 | 0.02 |
| Asset Turnover | — | 0.29 | 0.26 | 0.32 | 0.29 | 0.24 | 0.24 | 0.26 | 0.30 | 0.34 | 0.36 |
| Inventory Turnover | — | — | 5.28 | 5.26 | 3.20 | 5.58 | 6.01 | 6.28 | 5.28 | 3.38 | 3.33 |
| 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 | 3.5% | 3.7% | 3.5% | 4.5% | 3.7% | 3.2% | 2.9% | 2.2% | 2.3% | 2.0% | 3.4% |
| Payout Ratio | 63.8% | 63.8% | 68.8% | 69.1% | — | 59.5% | 54.1% | 60.0% | 63.7% | 66.0% | 65.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.5% | 5.7% | 5.1% | 6.6% | — | 5.4% | 5.5% | 3.7% | 3.6% | 3.0% | 5.1% |
| FCF Yield | 3.4% | 3.6% | — | — | — | — | — | — | — | — | — |
| 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 | 3.5% | 3.7% | 3.5% | 4.5% | 3.7% | 3.2% | 2.9% | 2.2% | 2.3% | 2.0% | 3.4% |
| Shares Outstanding | — | $10M | $10M | $10M | $9M | $8M | $8M | $8M | $8M | $7M | $7M |
Regulatory and Pipeline Execution
Based on recent market data, RGCO trades at a TTM P/E of 18.31, which appears to reflect the market's cautious pricing of its regulated utility franchise relative to broader sector benchmarks and the potential for earnings volatility stemming from its non-utility midstream investments.
The current valuation suggests that investors are pricing the stock as a hybrid entity, balancing the stability of the Roanoke gas distribution monopoly against the speculative nature of the Mountain Valley Pipeline. The 3.5% dividend yield serves as a critical floor, though the premium relative to historical averages warrants investigation into whether the market is overestimating the immediate cash-generative potential of the pipeline.
As reported in quarterly financial statements, the company's ROE has fluctuated significantly, reaching 7.3% in 2026Q2, which suggests that the utility is navigating a period of regulatory lag where capital investments in the SAVE program have yet to be fully reflected in authorized rate recovery.
The volatility in earned ROE indicates that the company's profitability is highly sensitive to the timing of rate cases and the regulatory treatment of infrastructure spending. Investors should monitor whether the Virginia State Corporation Commission continues to provide constructive outcomes that allow the company to bridge the gap between its current earned returns and the industry-standard authorized ROE.
According to the company's balance sheet filings, the debt-to-capital ratio has remained relatively stable, hovering near 0.54 in 2026Q2, which indicates a disciplined approach to financing the ongoing modernization of the Roanoke gas distribution network while maintaining a healthy credit profile for future capital needs.
The company's ability to maintain this leverage profile while funding significant capital expenditures suggests a prudent management of its balance sheet. However, the reliance on external financing to support these projects means that any shift in interest rate environments could impact the cost of capital and, by extension, the company's ability to sustain its current rate of infrastructure investment.
Based on the reported financial data, the dividend payout ratio has shown significant variance, ranging from 25.9% to 43.9% in recent quarters, which highlights the inherent challenge of maintaining consistent shareholder distributions given the company's highly seasonal cash flow generation from its core utility operations.
The dividend appears well-supported by the core regulated business, but the payout ratio's volatility suggests that management relies on the predictability of the Roanoke franchise to smooth out the impact of seasonal earnings fluctuations. Investors should focus on the long-term trend of the payout ratio as a proxy for the company's ability to balance shareholder returns with the capital requirements of its infrastructure program.
As indicated by the company's unique business model, the P/E ratio is frequently misapplied to RGCO because it fails to account for the non-cash equity earnings from the Mountain Valley Pipeline, which can artificially inflate net income and obscure the true cash-generative capacity of the utility.
Analysts should instead focus on adjusted earnings or cash flow from operations to better understand the underlying health of the regulated distribution business. Relying on a standard P/E ratio risks misinterpreting the company's valuation by conflating the stable, regulated utility earnings with the more volatile, non-cash contributions from its midstream investments.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying RGCO stock.
RGC Resources, Inc.'s current P/E ratio is 18.2x. The historical average is 17.0x. This places it at the 62th percentile of its historical range.
RGC Resources, Inc.'s current EV/EBITDA is 13.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.4x.
RGC Resources, Inc.'s return on equity (ROE) is 12.0%. The historical average is 9.7%.
Based on historical data, RGC Resources, Inc. is trading at a P/E of 18.2x. This is at the 62th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
RGC Resources, Inc.'s current dividend yield is 3.49% with a payout ratio of 63.8%.
RGC Resources, Inc. has 34.5% gross margin and 19.4% operating margin. Operating margin between 10-20% is typical for established companies.
RGC Resources, Inc.'s Debt/EBITDA ratio is 5.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.