Latest Ratios: P/E Ratio 392.9x · EV/EBITDA 154.9x · ROE 0.9%. (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 | $62.9B | $23.9B | $23.4B | $47.3B | $32.4B | $45.2B | $34.1B | $24.3B | $12.6B | $19.8B | $10.1B |
| Enterprise Value | $62.2B | $23.2B | $24.3B | $47.3B | $32.1B | $44.7B | $34.0B | $24.0B | $12.3B | $19.7B | $9.9B |
| P/E Ratio → | 392.89 | 144.11 | 15.04 | 11.24 | 7.50 | 22.63 | 30.93 | 23.61 | 7.75 | 24.54 | 59.74 |
| P/S Ratio | 5.31 | 2.02 | 1.77 | 2.74 | 2.01 | 3.54 | 3.34 | 2.54 | 1.31 | 2.37 | 1.44 |
| P/B Ratio | 3.58 | 1.31 | 1.33 | 2.81 | 2.54 | 4.87 | 4.01 | 3.42 | 1.97 | 3.62 | 2.19 |
| P/FCF | — | — | — | 32.51 | 20.72 | 40.21 | 46.45 | 37.64 | 21.73 | 52.63 | 23.28 |
| P/OCF | 29.21 | 11.13 | 7.90 | 7.90 | 6.24 | 14.76 | 16.31 | 13.02 | 6.85 | 11.80 | 9.64 |
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 | 1.83 | 2.74 | 1.99 | 3.50 | 3.32 | 2.51 | 1.27 | 2.36 | 1.42 |
| EV / EBITDA | 154.90 | 57.92 | 7.08 | 7.66 | 5.68 | 12.90 | 15.12 | 11.67 | 5.73 | 11.41 | 10.22 |
| EV / EBIT | 191.83 | 57.92 | 12.39 | 9.81 | 7.14 | 18.78 | 25.70 | 20.24 | 8.52 | 19.63 | 41.00 |
| EV / FCF | — | — | — | 32.48 | 20.50 | 39.78 | 46.19 | 37.15 | 21.11 | 52.48 | 22.87 |
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 | 33.9% | 33.9% | 39.3% | 47.9% | 47.3% | 41.7% | 37.1% | 38.7% | 36.9% | 36.3% | 32.2% |
| Operating Margin | 2.7% | 2.7% | 12.6% | 26.7% | 27.5% | 19.0% | 12.9% | 12.6% | 14.0% | 12.9% | 3.9% |
| Net Profit Margin | 1.4% | 1.4% | 11.7% | 24.4% | 24.6% | 15.7% | 10.8% | 10.8% | 16.9% | 2.6% | 1.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 0.9% | 0.9% | 9.0% | 28.4% | 35.9% | 22.5% | 14.2% | 15.2% | 27.4% | 4.3% | 2.6% |
| ROA | 0.7% | 0.7% | 6.3% | 19.0% | 22.3% | 13.3% | 8.4% | 9.1% | 15.9% | 2.5% | 1.5% |
| ROIC | 1.3% | 1.3% | 7.1% | 23.7% | 31.4% | 21.2% | 13.1% | 14.0% | 17.7% | 16.5% | 4.5% |
| ROCE | 1.5% | 1.5% | 8.0% | 25.0% | 30.9% | 20.2% | 12.5% | 13.0% | 16.5% | 15.3% | 4.2% |
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 | 0.12 | 0.12 | 0.18 | 0.19 | 0.23 | 0.30 | 0.33 | 0.32 | 0.30 | 0.31 | 0.32 |
| Debt / EBITDA | 5.32 | 5.32 | 0.92 | 0.51 | 0.51 | 0.79 | 1.25 | 1.11 | 0.89 | 0.98 | 1.50 |
| Net Debt / Equity | — | -0.04 | 0.05 | -0.00 | -0.03 | -0.05 | -0.02 | -0.04 | -0.06 | -0.01 | -0.04 |
| Net Debt / EBITDA | -1.75 | -1.75 | 0.26 | -0.01 | -0.06 | -0.14 | -0.08 | -0.15 | -0.17 | -0.03 | -0.18 |
| Debt / FCF | — | — | — | -0.03 | -0.22 | -0.43 | -0.26 | -0.49 | -0.61 | -0.15 | -0.41 |
| Interest Coverage | — | — | 23.09 | 87.60 | 346.08 | 56.64 | 24.46 | 21.96 | 26.72 | 19.33 | 6.03 |
Net cash position: cash ($2.8B) exceeds total debt ($2.1B)
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 | 3.36 | 3.36 | 3.11 | 3.17 | 2.56 | 2.66 | 2.49 | 3.03 | 2.77 | 2.52 | 2.76 |
| Quick Ratio | 2.43 | 2.43 | 2.37 | 2.44 | 1.89 | 1.99 | 1.89 | 2.21 | 2.03 | 1.86 | 2.02 |
| Cash Ratio | 1.47 | 1.47 | 1.64 | 1.63 | 1.18 | 1.19 | 1.22 | 1.32 | 1.22 | 1.08 | 1.24 |
| Asset Turnover | — | 0.48 | 0.54 | 0.71 | 0.81 | 0.82 | 0.71 | 0.81 | 0.89 | 0.86 | 0.87 |
| Inventory Turnover | 2.50 | 2.50 | 2.88 | 3.34 | 3.29 | 3.76 | 3.49 | 3.47 | 3.89 | 3.98 | 4.03 |
| Days Sales Outstanding | — | 53.81 | 67.04 | 56.17 | 44.58 | 50.31 | 52.33 | 52.71 | 48.23 | 50.24 | 49.15 |
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 | 0.5% | 1.3% | 1.2% | 0.5% | 0.7% | 0.5% | 0.5% | 0.9% | 1.7% | 1.1% | 2.5% |
| Payout Ratio | 192.8% | 192.8% | 18.5% | 5.3% | 5.4% | 10.3% | 15.2% | 20.7% | 13.3% | 98.2% | 207.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.3% | 0.7% | 6.6% | 8.9% | 13.3% | 4.4% | 3.2% | 4.2% | 12.9% | 4.1% | 1.7% |
| FCF Yield | — | — | — | 3.1% | 4.8% | 2.5% | 2.2% | 2.7% | 4.6% | 1.9% | 4.3% |
| Buyback Yield | 0.6% | 1.5% | 1.5% | 0.7% | 1.1% | 1.1% | 0.4% | 1.0% | 0.6% | 1.5% | 0.0% |
| Total Shareholder Yield | 1.1% | 2.9% | 2.8% | 1.2% | 1.7% | 1.5% | 0.9% | 1.9% | 2.3% | 2.6% | 2.5% |
| Shares Outstanding | — | $923M | $939M | $944M | $912M | $924M | $920M | $904M | $911M | $906M | $886M |
Cyclical Fab Underutilization
Based on current market data, STM trades at a trailing P/E of 396.78, a valuation that appears disconnected from the reality of a 10.8% revenue decline and suggests investors are pricing in a recovery that remains unsupported by the current quarterly earnings trajectory.
The forward P/E of 55.92 implies that the market expects a significant rebound in profitability, yet this optimism seems at odds with the persistent margin compression observed in recent quarters. Compared to peers like NXP Semiconductors, which trades at a more modest valuation, STM's current pricing warrants caution as it assumes a rapid return to historical peak margins that may be structurally delayed.
As reported in financial statements, ROIC has plummeted to 0.4% in 2026Q1 from 4.8% in 2023Q4, signaling a sharp deterioration in the company's ability to generate returns on its massive fixed-asset base during this period of cyclical manufacturing underutilization.
The collapse in return metrics highlights the vulnerability of the IDM model when fab utilization rates fall below critical thresholds. Investors should monitor whether the company can improve these returns through better asset management or if the current capital intensity will continue to dilute shareholder value in the near term.
According to quarterly filings, the cash conversion cycle has expanded to 126 days in 2026Q1, driven by an elevated DIO of 138 days, which indicates that inventory is moving significantly slower through the supply chain compared to the 81-day cycle observed in late 2023.
This lengthening of the cash conversion cycle suggests that the company is struggling to clear excess inventory, which ties up capital and increases the risk of future write-downs. The inability to optimize working capital during a downturn reflects the challenges of managing high-volume automotive and industrial product lines in a cooling demand environment.
The P/E ratio is frequently misapplied to STM's business model, as it obscures the impact of massive non-cash depreciation charges inherent in the IDM model and fails to account for the cyclical volatility of fab utilization that dictates true earnings power.
Analysts should prioritize EV/EBITDA or P/FCF to better capture the company's operational cash-generating capacity, as these metrics strip away the accounting noise of depreciation and amortization. Relying on P/E in a cyclical trough risks misinterpreting a temporary earnings collapse as a permanent loss of value, leading to potentially flawed investment conclusions.
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Quick answers to the most common questions about buying STM stock.
STMicroelectronics N.V.'s current P/E ratio is 392.9x. The historical average is 40.5x. This places it at the 100th percentile of its historical range.
STMicroelectronics N.V.'s current EV/EBITDA is 154.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.3x.
STMicroelectronics N.V.'s return on equity (ROE) is 0.9%. The historical average is 8.3%.
Based on historical data, STMicroelectronics N.V. is trading at a P/E of 392.9x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
STMicroelectronics N.V.'s current dividend yield is 0.49% with a payout ratio of 192.8%.
STMicroelectronics N.V. has 33.9% gross margin and 2.7% operating margin.
STMicroelectronics N.V.'s Debt/EBITDA ratio is 5.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.