Latest Ratios: P/E Ratio 11.7x · EV/EBITDA 6.7x · ROE 10.4%. (1999–2025 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 | $102.4B | $118.3B | $120.7B | $125.0B | $121.3B | $125.5B | $121.8B | $125.5B | $108.3B | $108.1B | $104.1B |
| Enterprise Value | $116.9B | $131.0B | $131.2B | $134.9B | $129.7B | $137.8B | $131.6B | $141.7B | $126.0B | $113.4B | $112.4B |
| P/E Ratio → | 11.65 | 15.14 | 22.02 | 23.13 | 15.23 | 20.12 | 9.90 | 44.04 | 25.09 | 12.80 | 22.10 |
| P/S Ratio | 1.92 | 2.53 | 2.73 | 3.00 | 2.99 | 3.20 | 3.26 | 3.33 | 3.03 | 2.98 | 3.00 |
| P/B Ratio | 1.27 | 1.65 | 1.55 | 1.68 | 1.61 | 1.82 | 1.93 | 2.12 | 1.83 | 1.86 | 1.80 |
| P/FCF | 8.84 | 11.66 | 20.51 | 14.46 | 14.57 | 14.80 | 22.84 | 21.17 | 30.33 | 19.93 | 18.08 |
| P/OCF | 7.39 | 9.75 | 13.29 | 12.18 | 11.52 | 11.93 | 16.35 | 16.20 | 19.52 | 14.65 | 13.28 |
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 | — | 2.80 | 2.96 | 3.24 | 3.20 | 3.52 | 3.52 | 3.77 | 3.53 | 3.13 | 3.24 |
| EV / EBITDA | 6.70 | 8.57 | 12.10 | 11.85 | 9.78 | 12.01 | 7.40 | 13.50 | 14.07 | 11.95 | 11.43 |
| EV / EBIT | 10.66 | 19.25 | 17.61 | 19.39 | 12.47 | 16.83 | 9.26 | 44.04 | 25.71 | 19.05 | 17.03 |
| EV / FCF | — | 12.91 | 22.29 | 15.62 | 15.58 | 16.25 | 24.66 | 23.90 | 35.29 | 20.91 | 19.52 |
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 | 72.1% | 72.1% | 70.2% | 69.7% | 70.7% | 68.7% | 67.5% | 68.2% | 67.9% | 67.9% | 69.2% |
| Operating Margin | 20.5% | 20.5% | 16.4% | 16.7% | 25.1% | 20.7% | 37.8% | 8.1% | 13.1% | 16.0% | 18.8% |
| Net Profit Margin | 16.7% | 16.7% | 12.6% | 13.0% | 20.6% | 15.9% | 32.9% | 7.3% | 12.1% | 23.2% | 13.6% |
| 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% | 7.3% | 7.2% | 11.6% | 9.4% | 20.1% | 4.7% | 7.3% | 14.5% | 8.1% |
| ROA | 6.0% | 6.0% | 4.3% | 4.3% | 6.8% | 5.3% | 10.8% | 2.5% | 4.1% | 8.2% | 4.5% |
| ROIC | 8.3% | 8.3% | 6.3% | 6.2% | 9.2% | 7.9% | 14.3% | 3.0% | 5.0% | 6.7% | 7.4% |
| ROCE | 9.5% | 9.5% | 7.0% | 6.8% | 10.1% | 8.4% | 15.1% | 3.3% | 5.2% | 6.7% | 7.5% |
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 | 0.28 | 0.28 | 0.23 | 0.25 | 0.28 | 0.32 | 0.37 | 0.44 | 0.42 | 0.27 | 0.32 |
| Debt / EBITDA | 1.33 | 1.33 | 1.65 | 1.64 | 1.60 | 1.95 | 1.33 | 2.47 | 2.75 | 1.64 | 1.89 |
| Net Debt / Equity | — | 0.18 | 0.13 | 0.13 | 0.11 | 0.18 | 0.15 | 0.27 | 0.30 | 0.09 | 0.14 |
| Net Debt / EBITDA | 0.83 | 0.83 | 0.97 | 0.88 | 0.64 | 1.07 | 0.55 | 1.54 | 1.98 | 0.56 | 0.84 |
| Debt / FCF | — | 1.25 | 1.78 | 1.16 | 1.02 | 1.45 | 1.83 | 2.73 | 4.96 | 0.97 | 1.44 |
| Interest Coverage | 10.86 | 10.86 | 11.96 | 13.57 | 27.03 | 21.69 | 32.99 | 6.00 | 10.07 | 17.85 | 16.52 |
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 | 1.09 | 1.09 | 1.46 | 1.27 | 1.42 | 1.44 | 1.75 | 1.40 | 1.41 | 1.70 | 1.62 |
| Quick Ratio | 0.29 | 0.29 | 1.14 | 0.87 | 1.05 | 1.03 | 1.32 | 1.01 | 0.98 | 1.26 | 1.20 |
| Cash Ratio | 0.27 | 0.27 | 0.27 | 0.36 | 0.53 | 0.47 | 0.72 | 0.48 | 0.40 | 0.67 | 0.63 |
| Asset Turnover | — | 0.37 | 0.33 | 0.33 | 0.32 | 0.33 | 0.33 | 0.33 | 0.32 | 0.36 | 0.33 |
| Inventory Turnover | 0.58 | 0.58 | 1.40 | 1.31 | 1.33 | 1.41 | 1.46 | 1.50 | 1.53 | 1.70 | 1.55 |
| Days Sales Outstanding | — | 86.30 | 87.60 | 96.82 | 96.70 | 91.19 | 97.22 | 97.80 | 95.61 | 87.42 | 95.21 |
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 | 5.9% | 4.6% | 3.9% | 3.6% | 3.4% | 3.2% | 3.2% | 3.1% | 3.5% | 3.4% | 3.6% |
| Payout Ratio | 68.9% | 68.9% | 84.6% | 82.5% | 49.8% | 64.4% | 32.0% | 139.2% | 87.6% | 44.1% | 79.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.6% | 6.6% | 4.5% | 4.3% | 6.6% | 5.0% | 10.1% | 2.3% | 4.0% | 7.8% | 4.5% |
| FCF Yield | 11.3% | 8.6% | 4.9% | 6.9% | 6.9% | 6.8% | 4.4% | 4.7% | 3.3% | 5.0% | 5.5% |
| Buyback Yield | 6.3% | 4.8% | 0.3% | 0.5% | 0.4% | 0.3% | 0.7% | 0.0% | 1.0% | 2.0% | 2.8% |
| Total Shareholder Yield | 12.2% | 9.4% | 4.1% | 4.0% | 3.8% | 3.5% | 3.9% | 3.1% | 4.5% | 5.4% | 6.4% |
| Shares Outstanding | — | $2.4B | $2.5B | $2.5B | $2.5B | $2.5B | $2.5B | $2.5B | $2.5B | $2.5B | $2.6B |
Operational and seasonal volatility
Based on current market data, Sanofi trades at a forward P/E of 10.20, which appears to reflect a conglomerate discount relative to pure-play biopharma peers like AstraZeneca, whose forward multiples are significantly higher, suggesting the market has yet to fully price in the potential value of the specialty-focused pivot.
The valuation gap between Sanofi and its innovative peers suggests that investors are currently discounting the firm's legacy assets and the complexity of its current business mix. If the planned separation of the consumer healthcare unit proceeds, the resulting re-rating could narrow this valuation disparity, provided the specialty pipeline continues to deliver on its growth targets.
As reported in recent financial statements, Sanofi's ROIC has struggled to maintain positive momentum, dipping to -0.9% in 2025Q4, which highlights the difficulty of compounding returns while simultaneously managing a large-scale portfolio transition and significant R&D investment cycles across its immunology and vaccine franchises.
The inconsistency in ROIC trends suggests that the company's capital allocation is currently being impacted by the high costs associated with its 'Play to Win' strategy. Investors should monitor whether the divestiture of lower-margin units can improve the overall return profile by allowing management to focus capital exclusively on high-barrier, high-margin specialty assets.
According to quarterly filings, Sanofi's cash conversion cycle has shown extreme variability, reaching 32 days in 2025Q4 compared to 218 days in 2024Q4, which indicates that the firm's operational efficiency is heavily influenced by the lumpy nature of government vaccine tenders and seasonal inventory stocking patterns.
The wide swings in the cash conversion cycle suggest that standard efficiency metrics may be misleading when applied to a business model so reliant on large, periodic government contracts. This volatility warrants further investigation into whether the company's inventory management can be optimized to reduce the working capital burden during off-peak periods.
Based on the latest reported figures, Sanofi maintains a debt-to-equity ratio of 0.28, which is notably conservative for the healthcare sector and suggests that the company possesses a robust balance sheet capable of absorbing potential operational shocks or funding future strategic acquisitions without immediate refinancing risk.
This low leverage profile provides the firm with significant financial flexibility, which is a critical advantage given the inherent risks of the drug development pipeline. The company's ability to maintain such a conservative capital structure while navigating a major portfolio separation appears to be a key defensive pillar for long-term shareholders.
The P/E ratio is frequently misapplied to Sanofi because it fails to account for the significant non-operating volatility and restructuring costs that currently depress reported earnings, thereby obscuring the underlying cash-generating power of the firm's core specialty medicine and vaccine franchises.
Analysts should instead prioritize EV/EBITDA or free cash flow-based valuation metrics to better capture the company's operational performance, as these measures are less sensitive to the accounting noise generated by the ongoing consumer health divestiture. Relying solely on P/E may lead to an inaccurate assessment of the company's true earnings durability.
Includes 30+ ratios · 27 years · Updated daily
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Quick answers to the most common questions about buying SNY stock.
Sanofi's current P/E ratio is 11.7x. The historical average is 24.3x. This places it at the 4th percentile of its historical range.
Sanofi's current EV/EBITDA is 6.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.8x.
Sanofi's return on equity (ROE) is 10.4%. The historical average is 12.7%.
Based on historical data, Sanofi is trading at a P/E of 11.7x. This is at the 4th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Sanofi's current dividend yield is 5.92% with a payout ratio of 68.9%.
Sanofi has 72.1% gross margin and 20.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Sanofi's Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.