Latest Ratios: P/E Ratio 13.6x · EV/EBITDA 9.7x · ROE 7.1%. (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 | $10.3B | $7.1B | $7.7B | $21.3B | $23.3B | $26.3B | $28.2B | $33.0B | $26.0B | $25.3B | $22.1B |
| Enterprise Value | $19.9B | $16.8B | $17.9B | $32.5B | $33.1B | $35.4B | $37.1B | $41.2B | $32.9B | $32.0B | $27.7B |
| P/E Ratio → | 13.65 | 8.89 | — | 16.88 | 18.84 | 19.84 | 212.33 | 35.75 | 21.96 | 38.29 | 29.67 |
| P/S Ratio | 1.21 | 0.83 | 0.89 | 2.38 | 2.59 | 3.03 | 3.51 | 4.23 | 4.51 | 4.67 | 4.40 |
| P/B Ratio | 0.95 | 0.62 | 0.70 | 1.62 | — | — | — | — | — | — | — |
| P/FCF | 8.30 | 5.73 | 7.61 | 18.04 | 15.03 | 16.34 | 16.91 | 19.95 | 17.08 | 16.15 | 14.60 |
| P/OCF | 5.45 | 3.76 | 4.43 | 11.63 | 11.79 | 13.17 | 13.98 | 16.36 | 13.85 | 13.65 | 12.85 |
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 | — | 1.96 | 2.06 | 3.62 | 3.67 | 4.07 | 4.62 | 5.29 | 5.70 | 5.90 | 5.53 |
| EV / EBITDA | 9.68 | 8.13 | — | 12.75 | 12.62 | 13.61 | 26.13 | 19.50 | 16.21 | 16.50 | 16.30 |
| EV / EBIT | 13.56 | 11.06 | — | 16.72 | 16.31 | 18.22 | 45.03 | 25.99 | 18.56 | 19.87 | 19.49 |
| EV / FCF | — | 13.46 | 17.69 | 27.52 | 21.33 | 21.96 | 22.25 | 24.94 | 21.56 | 20.41 | 18.32 |
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 | 47.0% | 47.0% | 48.3% | 49.0% | 50.2% | 50.6% | 51.0% | 50.6% | 51.8% | 52.1% | 50.0% |
| Operating Margin | 17.2% | 17.2% | -17.4% | 21.7% | 22.6% | 23.2% | 10.7% | 21.1% | 29.9% | 30.2% | 28.5% |
| Net Profit Margin | 9.4% | 9.4% | -19.1% | 14.1% | 13.5% | 15.1% | 1.6% | 11.7% | 20.4% | 11.9% | 14.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.1% | 7.1% | -13.8% | 25.8% | — | — | — | — | — | — | — |
| ROA | 2.9% | 2.9% | -5.8% | 6.3% | 12.0% | 12.8% | 1.2% | 9.5% | 14.3% | 7.9% | 9.3% |
| ROIC | 5.2% | 5.2% | -5.0% | 9.5% | 23.8% | 23.2% | 9.1% | 19.7% | 25.5% | 24.6% | 21.5% |
| ROCE | 6.1% | 6.1% | -6.0% | 11.7% | 28.4% | 27.9% | 11.4% | 24.9% | 31.8% | 30.3% | 26.3% |
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 | 0.84 | 0.84 | 0.94 | 0.88 | — | — | — | — | — | — | — |
| Debt / EBITDA | 4.71 | 4.71 | — | 4.51 | 3.75 | 3.56 | 6.31 | 3.95 | 3.40 | 3.48 | 3.44 |
| Net Debt / Equity | — | 0.83 | 0.92 | 0.85 | — | — | — | — | — | — | — |
| Net Debt / EBITDA | 4.67 | 4.67 | — | 4.39 | 3.73 | 3.48 | 6.26 | 3.90 | 3.37 | 3.44 | 3.31 |
| Debt / FCF | — | 7.72 | 10.08 | 9.49 | 6.30 | 5.62 | 5.33 | 4.98 | 4.48 | 4.26 | 3.72 |
| Interest Coverage | 3.30 | 3.30 | -2.76 | 4.59 | 4.80 | 4.68 | 2.09 | 4.07 | 5.06 | 4.65 | 4.30 |
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 | 0.30 | 0.30 | 0.42 | 0.34 | 0.35 | 0.40 | 0.31 | 0.30 | 0.17 | 0.17 | 0.24 |
| Quick Ratio | 0.30 | 0.30 | 0.42 | 0.34 | 0.35 | 0.40 | 0.30 | 0.30 | 0.16 | 0.16 | 0.23 |
| Cash Ratio | 0.03 | 0.03 | 0.06 | 0.08 | 0.02 | 0.06 | 0.02 | 0.03 | 0.02 | 0.02 | 0.08 |
| Asset Turnover | — | 0.31 | 0.32 | 0.30 | 0.90 | 0.85 | 0.78 | 0.70 | 0.71 | 0.65 | 0.63 |
| Inventory Turnover | — | — | — | — | — | — | 394.10 | 350.36 | 126.32 | 128.72 | 123.07 |
| Days Sales Outstanding | — | 32.46 | 28.36 | 28.90 | 26.55 | 30.30 | 30.51 | 31.38 | 14.74 | 16.26 | 16.23 |
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 | 3.3% | 5.1% | 1.9% | 0.3% | 5.7% | 1.0% | 0.8% | 0.7% | 0.8% | 0.8% | 0.2% |
| Payout Ratio | 45.3% | 45.3% | — | 5.2% | 110.4% | 20.4% | 180.9% | 24.7% | 17.1% | 29.3% | 6.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.3% | 11.3% | — | 5.9% | 5.3% | 5.0% | 0.5% | 2.8% | 4.6% | 2.6% | 3.4% |
| FCF Yield | 12.0% | 17.4% | 13.1% | 5.5% | 6.7% | 6.1% | 5.9% | 5.0% | 5.9% | 6.2% | 6.9% |
| Buyback Yield | 1.3% | 1.9% | 0.1% | 1.3% | 2.8% | 5.8% | 5.5% | 6.5% | 5.0% | 5.6% | 7.6% |
| Total Shareholder Yield | 4.6% | 7.0% | 1.9% | 1.6% | 8.5% | 6.8% | 6.4% | 7.2% | 5.8% | 6.3% | 7.8% |
| Shares Outstanding | — | $357M | $338M | $389M | $399M | $414M | $443M | $462M | $456M | $472M | $496M |
Stagnant Subscriber Growth
According to current market data, SIRI trades at a forward P/E of 9.04 and a PEG ratio of 0.25, suggesting that investors are pricing in significant long-term growth stagnation despite the company's historical role as a dominant player in the automotive audio entertainment market.
The low valuation multiples relative to broader media peers appear to reflect deep skepticism regarding the company's ability to expand its subscriber base in a saturated market. While the P/FCF of 7.66 might appear attractive, it warrants caution as it may be inflated by inconsistent capital expenditure cycles and the potential for future content cost escalations.
Based on reported financial statements, ROIC has trended downward to 2.1% in 2026Q1, a significant contraction from historical levels that highlights the company's struggle to generate meaningful returns on its massive investment in satellite infrastructure and exclusive talent contracts.
The decay in ROIC suggests that the company's core assets are failing to produce the incremental value required to justify its capital-intensive business model. Investors should monitor whether this trend is a structural consequence of rising royalty rates or a temporary byproduct of the ongoing corporate simplification process.
As evidenced by the provided quarterly data, the company's asset turnover remains consistently low at 0.08, indicating that the business requires a substantial asset base to generate each dollar of revenue, which limits the potential for rapid operational scaling in the current environment.
The lack of clear data regarding the cash conversion cycle, particularly the absence of DIO and CCC metrics, obscures the true efficiency of the company's working capital management. This opacity makes it difficult to assess how effectively management is leveraging its supplier relationships to offset the inherent costs of its subscription-based model.
According to recent balance sheet filings, the current ratio has deteriorated to 0.44 in 2026Q1, signaling a persistent inability to cover short-term liabilities with liquid assets, which leaves the company with limited financial cushion to navigate unexpected regulatory or competitive shocks in the audio market.
The reliance on deferred revenue to manage cash flow appears to be a double-edged sword, as it creates significant future service obligations without providing immediate liquidity for growth initiatives. This liquidity profile suggests that any further decline in subscriber retention could rapidly exacerbate the company's financial vulnerability.
Based on an analysis of the business model, the P/E ratio is the most commonly misapplied metric for SIRI, as it fails to account for the significant non-cash amortization of subscriber acquisition costs and the volatility inherent in the company's content-heavy cost structure.
Investors should prioritize EV/EBITDA or FCF-based valuation models, which better capture the company's true cash-generating capacity and debt-servicing ability. Relying on P/E ignores the impact of the company's unique capital structure and the significant deferred revenue balances that distort traditional earnings-based valuation metrics.
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Quick answers to the most common questions about buying SIRI stock.
Sirius XM Holdings Inc.'s current P/E ratio is 13.6x. The historical average is 38.0x. This places it at the 14th percentile of its historical range.
Sirius XM Holdings Inc.'s current EV/EBITDA is 9.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.2x.
Sirius XM Holdings Inc.'s return on equity (ROE) is 7.1%. The historical average is -6.1%.
Based on historical data, Sirius XM Holdings Inc. is trading at a P/E of 13.6x. This is at the 14th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Sirius XM Holdings Inc.'s current dividend yield is 3.33% with a payout ratio of 45.3%.
Sirius XM Holdings Inc. has 47.0% gross margin and 17.2% operating margin. Operating margin between 10-20% is typical for established companies.
Sirius XM Holdings Inc.'s Debt/EBITDA ratio is 4.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.