Latest Ratios: P/E Ratio 43.9x · EV/EBITDA 19.2x · ROE 10.4%. (1998–2025 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 | $11.1B | $8.7B | $12.2B | $11.7B | $5.6B | $9.0B | $4.8B | $2.5B | $1.5B | $1.8B | $1.1B |
| Enterprise Value | $11.5B | $9.1B | $12.5B | $11.6B | $5.6B | $9.1B | $5.0B | $2.7B | $1.6B | $2.0B | $1.2B |
| P/E Ratio → | 43.90 | 34.30 | 33.71 | 33.05 | 15.65 | 35.55 | 34.77 | 21.66 | 13.99 | 20.27 | 23.61 |
| P/S Ratio | 3.45 | 2.70 | 3.80 | 4.07 | 2.00 | 3.93 | 2.64 | 1.38 | 0.89 | 1.31 | 0.91 |
| P/B Ratio | 4.34 | 3.39 | 5.28 | 6.04 | 3.54 | 7.38 | 5.00 | 3.02 | 2.11 | 3.17 | 2.35 |
| P/FCF | 407.73 | 319.97 | — | 84.95 | 52.97 | 92.94 | 61.64 | — | 44.79 | — | 42.93 |
| P/OCF | 18.73 | 14.70 | 20.92 | 20.29 | 11.82 | 23.53 | 15.55 | 9.02 | 5.72 | 11.69 | 7.78 |
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 | — | 2.83 | 3.90 | 4.02 | 1.99 | 3.96 | 2.73 | 1.51 | 0.96 | 1.41 | 0.96 |
| EV / EBITDA | 19.21 | 15.22 | 18.08 | 18.10 | 8.86 | 18.99 | 15.78 | 9.95 | 6.53 | 10.86 | 7.76 |
| EV / EBIT | 32.77 | 25.84 | 25.80 | 24.68 | 11.81 | 26.95 | 27.38 | 17.63 | 11.24 | 20.82 | 15.21 |
| EV / FCF | — | 334.55 | — | 83.80 | 52.65 | 93.50 | 63.70 | — | 48.47 | — | 45.66 |
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 | 23.7% | 23.7% | 20.1% | 20.8% | 21.2% | 19.7% | 15.6% | 14.0% | 13.9% | 12.5% | 12.8% |
| Operating Margin | 10.9% | 10.9% | 15.0% | 16.0% | 16.9% | 14.6% | 9.9% | 8.5% | 8.5% | 6.7% | 6.3% |
| Net Profit Margin | 7.9% | 7.9% | 11.3% | 12.3% | 12.8% | 11.1% | 7.6% | 6.4% | 6.3% | 6.5% | 3.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.4% | 10.4% | 17.0% | 20.2% | 25.5% | 23.2% | 15.6% | 15.1% | 16.4% | 17.1% | 10.5% |
| ROA | 7.7% | 7.7% | 12.6% | 14.9% | 17.8% | 14.9% | 9.3% | 8.9% | 10.0% | 10.3% | 6.3% |
| ROIC | 9.4% | 9.4% | 16.4% | 20.7% | 25.0% | 21.0% | 12.4% | 12.2% | 13.9% | 11.2% | 11.3% |
| ROCE | 11.5% | 11.5% | 18.7% | 22.1% | 27.5% | 24.0% | 14.7% | 14.5% | 16.4% | 13.0% | 12.7% |
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 | 0.16 | 0.16 | 0.14 | 0.07 | 0.10 | 0.13 | 0.19 | 0.30 | 0.18 | 0.23 | 0.15 |
| Debt / EBITDA | 0.70 | 0.70 | 0.47 | 0.22 | 0.25 | 0.34 | 0.59 | 0.89 | 0.50 | 0.73 | 0.48 |
| Net Debt / Equity | — | 0.15 | 0.13 | -0.08 | -0.02 | 0.04 | 0.17 | 0.30 | 0.17 | 0.22 | 0.15 |
| Net Debt / EBITDA | 0.66 | 0.66 | 0.44 | -0.25 | -0.05 | 0.11 | 0.51 | 0.89 | 0.50 | 0.71 | 0.47 |
| Debt / FCF | — | 14.57 | — | -1.14 | -0.31 | 0.56 | 2.07 | — | 3.68 | — | 2.74 |
| Interest Coverage | 21.52 | 21.52 | 54.30 | 184.92 | 180.26 | 104.60 | 35.05 | 22.93 | 26.07 | 18.77 | 18.05 |
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 | 1.64 | 1.64 | 1.57 | 2.01 | 1.94 | 1.30 | 0.99 | 0.96 | 1.02 | 1.22 | 1.15 |
| Quick Ratio | 1.64 | 1.64 | 1.57 | 2.01 | 1.94 | 1.30 | 0.99 | 0.96 | 1.02 | 1.22 | 1.15 |
| Cash Ratio | 0.07 | 0.07 | 0.07 | 0.92 | 0.68 | 0.33 | 0.09 | 0.00 | 0.01 | 0.03 | 0.01 |
| Asset Turnover | — | 0.93 | 1.01 | 1.12 | 1.28 | 1.24 | 1.18 | 1.26 | 1.46 | 1.45 | 1.56 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 37.49 | 41.75 | 39.62 | 41.02 | 44.14 | 43.46 | 41.76 | 40.48 | 45.20 | 41.47 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.3% | 2.9% | 3.0% | 3.0% | 6.4% | 2.8% | 2.9% | 4.6% | 7.1% | 4.9% | 4.2% |
| FCF Yield | 0.2% | 0.3% | — | 1.2% | 1.9% | 1.1% | 1.6% | — | 2.2% | — | 2.3% |
| Buyback Yield | 0.1% | 0.1% | 0.0% | 0.0% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
| Total Shareholder Yield | 0.1% | 0.1% | 0.0% | 0.0% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% |
| Shares Outstanding | — | $27M | $27M | $27M | $27M | $27M | $27M | $26M | $26M | $26M | $26M |
Operational margin compression risk
According to current market data, Saia trades at a forward P/E of 37.91, a valuation that appears increasingly disconnected from its decelerating revenue growth and the significant margin compression observed in recent quarterly filings, suggesting the market may be overpricing the company's long-term network expansion potential.
The current valuation multiples imply an expectation of rapid earnings recovery that may not materialize given the current industrial demand environment. Investors should monitor whether the premium relative to peers is justified by terminal density gains or if the multiple is vulnerable to a downward re-rating as growth expectations normalize.
Based on reported financial statements, Saia's ROIC has trended downward from 4.8% in 2023Q4 to 1.8% in 2026Q1, indicating that the company's aggressive capital deployment into new terminal infrastructure is currently failing to generate returns that exceed the cost of capital in the current cycle.
This decay in return on invested capital suggests that the 'density-build' phase is consuming significant resources without yet providing the expected operational leverage. The trend warrants investigation into whether the new terminals are underperforming or if the broader industrial slowdown is preventing the necessary shipment volume to drive efficiency.
As reported in recent SEC filings, Saia's asset turnover ratio has remained stagnant near 0.23, reflecting the heavy capital intensity of its LTL network and the difficulty of improving asset utilization while simultaneously absorbing new, lower-density terminal capacity across the national footprint.
The lack of improvement in asset turnover suggests that the company is struggling to optimize its expanded physical footprint. Without a meaningful increase in shipments per trailer, the company may continue to face pressure on its operating ratios, as the fixed costs of the terminal network remain high relative to current throughput.
According to quarterly filings, Saia maintains a disciplined capital structure with a debt-to-equity ratio of 0.06 as of 2026Q1, providing a fortress-like balance sheet that offers significant resilience against the cyclical volatility inherent in the LTL trucking industry compared to more highly leveraged peers.
This low leverage is a critical strategic asset, allowing the company to continue its terminal expansion even during periods of earnings volatility. However, investors should monitor whether this conservative stance will shift if management decides to pursue more aggressive M&A to accelerate its national footprint in a competitive market.
The P/E ratio is frequently misapplied to Saia, as it obscures the massive non-cash depreciation charges inherent in an asset-heavy LTL model, which can lead to a distorted view of the company's true cash-generating capacity and its ability to fund ongoing terminal network expansion.
Analysts should prioritize EV/EBITDA or free cash flow metrics to better understand the company's operational performance, as these measures strip out the accounting noise of depreciation. Relying solely on P/E may lead to an incomplete assessment of the company's valuation relative to its actual cash-generating power.
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying SAIA stock.
Saia, Inc.'s current P/E ratio is 43.9x. The historical average is 26.9x. This places it at the 95th percentile of its historical range.
Saia, Inc.'s current EV/EBITDA is 19.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.3x.
Saia, Inc.'s return on equity (ROE) is 10.4%. The historical average is 8.6%.
Based on historical data, Saia, Inc. is trading at a P/E of 43.9x. This is at the 95th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Saia, Inc. has 23.7% gross margin and 10.9% operating margin. Operating margin between 10-20% is typical for established companies.
Saia, Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.