Latest Ratios: P/E Ratio 32.8x · EV/EBITDA 17.6x · ROE 9.3%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.0B | $5.5B | $5.9B | $7.2B | $4.8B | $5.9B | — | — |
| Enterprise Value | $5.4B | $5.8B | $6.3B | $7.6B | $4.7B | $5.8B | — | — |
| P/E Ratio → | 32.84 | 41.06 | 50.67 | 49.62 | 33.91 | 42.36 | — | — |
| P/S Ratio | 3.85 | 4.82 | 5.39 | 6.66 | 4.84 | 7.04 | — | — |
| P/B Ratio | 2.96 | 3.70 | 4.23 | 6.38 | 4.78 | 7.06 | — | — |
| P/FCF | 204.88 | 256.19 | — | — | — | 294.83 | — | — |
| P/OCF | 15.99 | 19.99 | 38.17 | 68.73 | 46.04 | 44.57 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.12 | 5.69 | 6.96 | 4.83 | 6.84 | — | — |
| EV / EBITDA | 17.65 | 21.75 | 25.96 | 27.07 | 18.45 | 26.42 | — | — |
| EV / EBIT | 25.85 | 31.86 | 37.55 | 38.99 | 24.77 | 33.87 | — | — |
| EV / FCF | — | 272.06 | — | — | — | 286.55 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 29.0% | 29.0% | 27.4% | 31.3% | 32.5% | 31.4% | 29.3% | 25.7% |
| Operating Margin | 16.1% | 16.1% | 14.6% | 18.5% | 19.6% | 19.2% | 15.6% | 11.6% |
| Net Profit Margin | 11.8% | 11.8% | 10.7% | 13.4% | 14.5% | 15.9% | 11.9% | 7.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 9.3% | 9.3% | 9.3% | 13.7% | 15.5% | 23.3% | 27.3% | 14.8% |
| ROA | 5.5% | 5.5% | 5.4% | 7.8% | 9.3% | 11.3% | 8.5% | 4.4% |
| ROIC | 7.7% | 7.7% | 7.6% | 12.3% | 17.4% | 19.7% | 13.9% | 8.4% |
| ROCE | 9.5% | 9.5% | 9.6% | 14.9% | 16.9% | 18.7% | 16.2% | 10.0% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.32 | 0.32 | 0.31 | 0.35 | 0.22 | 0.29 | 1.17 | 1.42 |
| Debt / EBITDA | 1.76 | 1.76 | 1.77 | 1.42 | 0.85 | 1.12 | 2.31 | 3.46 |
| Net Debt / Equity | — | 0.23 | 0.24 | 0.29 | -0.01 | -0.20 | 0.80 | 1.09 |
| Net Debt / EBITDA | 1.27 | 1.27 | 1.37 | 1.17 | -0.04 | -0.76 | 1.57 | 2.68 |
| Debt / FCF | — | 15.87 | — | — | — | -8.27 | 4.15 | — |
| Interest Coverage | 8.40 | 8.40 | 24.35 | 44.93 | 48.67 | 35.01 | 15.06 | 11.38 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.74 | 1.74 | 1.84 | 1.50 | 1.83 | 2.56 | 1.56 | 1.71 |
| Quick Ratio | 1.24 | 1.24 | 1.33 | 1.06 | 1.37 | 2.12 | 1.12 | 1.21 |
| Cash Ratio | 0.25 | 0.25 | 0.21 | 0.12 | 0.55 | 1.29 | 0.50 | 0.48 |
| Asset Turnover | — | 0.45 | 0.47 | 0.52 | 0.59 | 0.59 | 0.68 | 0.61 |
| Inventory Turnover | 3.02 | 3.02 | 3.27 | 2.92 | 3.11 | 3.88 | 3.36 | 3.02 |
| Days Sales Outstanding | — | 173.67 | 175.18 | 175.71 | 137.10 | 120.42 | 92.21 | 109.24 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.3% | 0.3% | 0.2% | 0.2% | 0.3% | 0.2% | — | — |
| Payout Ratio | 10.5% | 10.5% | 12.3% | 9.8% | 9.5% | 8.3% | 11.3% | 15.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.0% | 2.4% | 2.0% | 2.0% | 2.9% | 2.4% | — | — |
| FCF Yield | 0.5% | 0.4% | — | — | — | 0.3% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.3% | 0.3% | 0.2% | 0.2% | 0.3% | 0.2% | — | — |
| Shares Outstanding | — | $273M | $273M | $265M | $265M | $265M | $265M | $265M |
High capital expenditure intensity
According to current market data, STVN trades at a forward P/E of 29.50, which suggests investors are pricing in significant long-term growth from the biologics sector, despite the company's recent earnings volatility and the inherent cyclicality of its engineering segment compared to broader industrial peers.
The current valuation multiple appears to command a premium over traditional glass manufacturers, reflecting the market's perception of Stevanato as a critical technology partner rather than a commodity supplier. Investors should monitor whether this valuation remains sustainable if the transition to high-value solutions does not accelerate sufficiently to justify the current PEG ratio of 2.70.
As reported in financial statements, STVN's ROIC has remained in a low range between 1.3% and 3.4% over the last ten quarters, indicating that the company's aggressive investment in global manufacturing capacity is currently outpacing its ability to generate immediate, high-margin returns on that invested capital.
The persistent gap between capital deployment and return generation suggests that the firm is in a heavy build-out phase, particularly with the Fishers facility. Analysts should interpret these low returns as a temporary byproduct of scaling, provided that future utilization rates eventually drive the ROIC toward the company's cost of capital.
Based on recent quarterly filings, STVN's cash conversion cycle has fluctuated between 122 and 196 days, revealing that the company's operational efficiency is heavily constrained by long inventory holding periods and extended collection cycles inherent in its complex, project-based engineering and biopharmaceutical supply agreements.
The high DIO and DSO figures suggest that the company carries significant working capital risk, which may be exacerbated by the lumpy nature of its engineering project milestones. This inefficiency warrants further investigation into whether the firm can optimize its supply chain as it scales its high-value product offerings.
According to the latest balance sheet data, STVN maintains a disciplined debt-to-equity ratio of 0.29, which indicates that management has successfully avoided over-leveraging the firm despite the significant capital requirements associated with building out international production capacity for its specialized drug delivery solutions and proprietary glass technologies.
The company's interest coverage ratio, which has remained generally robust despite quarterly fluctuations, suggests that debt service is currently comfortable. This financial flexibility appears to be a strategic buffer, allowing the firm to navigate the capital-intensive nature of its business model without immediate risk of liquidity distress.
The P/E ratio is frequently misapplied to Stevanato, as it obscures the significant impact of non-cash depreciation and heavy capital expenditure cycles that are characteristic of its transition into a high-value, technology-integrated manufacturing firm within the biopharmaceutical supply chain.
Investors should instead focus on EV/EBITDA or free cash flow yield, as these metrics better account for the company's high depreciation charges and the lumpy nature of its project-based revenue. Relying solely on P/E may lead to an inaccurate assessment of the firm's true earning power during this intensive growth phase.
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Quick answers to the most common questions about buying STVN stock.
Stevanato Group S.p.A.'s current P/E ratio is 32.8x. The historical average is 43.5x.
Stevanato Group S.p.A.'s current EV/EBITDA is 17.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.9x.
Stevanato Group S.p.A.'s return on equity (ROE) is 9.3%. The historical average is 16.2%.
Based on historical data, Stevanato Group S.p.A. is trading at a P/E of 32.8x. Compare with industry peers and growth rates for a complete picture.
Stevanato Group S.p.A.'s current dividend yield is 0.32% with a payout ratio of 10.5%.
Stevanato Group S.p.A. has 29.0% gross margin and 16.1% operating margin. Operating margin between 10-20% is typical for established companies.
Stevanato Group S.p.A.'s Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.