Latest Ratios: P/E Ratio 5.6x · EV/EBITDA 5.8x · ROE 17.6%. (1996–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.9B | $1.6B | $1.5B | $1.4B | $1.8B | $1.5B | $1.5B | $1.3B | $1.5B | $1.3B | $1.2B |
| Enterprise Value | $1.9B | $1.6B | $1.5B | $1.4B | $1.8B | $1.5B | $1.5B | $1.3B | $1.5B | $1.3B | $1.2B |
| P/E Ratio → | 5.62 | 5.10 | 6.03 | — | 4.16 | 7.82 | 4.43 | — | 5.21 | 6.83 | — |
| P/S Ratio | 5.78 | 5.09 | 6.01 | — | 4.15 | 7.77 | 4.42 | — | 5.19 | 6.78 | 20.97 |
| P/B Ratio | 0.95 | 0.86 | 0.87 | 0.86 | 0.89 | 0.87 | 0.89 | 0.86 | 0.87 | 0.84 | 0.83 |
| P/FCF | — | — | — | — | — | — | 4.43 | — | 5.21 | 6.83 | — |
| P/OCF | — | — | — | — | — | — | 4.43 | — | 5.21 | 6.83 | — |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.09 | 6.01 | — | 4.16 | 7.77 | 4.42 | — | 5.19 | 6.78 | 20.97 |
| EV / EBITDA | 5.79 | 5.10 | 6.03 | — | 4.16 | 7.81 | 4.43 | — | 5.21 | 6.83 | — |
| EV / EBIT | 5.79 | 5.10 | 6.03 | — | 4.16 | 7.81 | 4.43 | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | 4.43 | — | 5.21 | 6.83 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 102.6% | 100.0% | 96.5% | 97.9% | 110.4% | 100.0% | 100.0% | 88.5% |
| Operating Margin | 99.7% | 99.7% | 99.7% | 100.3% | 99.8% | 99.5% | 99.7% | 101.6% | 99.6% | 99.3% | 86.7% |
| Net Profit Margin | 99.7% | 99.7% | 99.7% | 100.3% | 99.8% | 99.5% | 99.7% | 101.6% | 99.6% | 99.3% | -60.7% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.6% | 17.6% | 15.0% | -16.0% | 22.8% | 11.4% | 21.5% | -4.7% | 17.6% | 12.7% | -2.3% |
| ROA | 17.5% | 17.5% | 15.0% | -16.0% | 22.7% | 11.3% | 21.5% | -4.7% | 17.6% | 12.6% | -2.3% |
| ROIC | 13.2% | 13.2% | 11.3% | -12.0% | 17.1% | 8.5% | 16.1% | -3.5% | 13.2% | 9.5% | 2.5% |
| ROCE | 17.6% | 17.6% | 15.0% | -16.0% | 22.8% | 11.4% | 21.5% | -4.7% | 17.6% | 12.7% | 3.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | — | 0.00 | 0.00 | — | — | — | — | — | — |
| Debt / EBITDA | 0.00 | 0.00 | — | — | 0.00 | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.00 | 0.00 | 0.00 | 0.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Debt / EBITDA | 0.00 | 0.00 | 0.00 | — | 0.00 | -0.00 | 0.00 | — | 0.00 | 0.00 | — |
| Debt / FCF | — | — | — | — | — | — | 0.00 | — | 0.00 | 0.00 | — |
| Interest Coverage | 501955.58 | 501955.58 | 604011.58 | -999999.00 | 999999.00 | — | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.91 | 2.91 | 4.50 | 8.39 | 3.96 | 9.29 | 4.07 | 3.13 | 20.82 | 1.72 | 2.58 |
| Quick Ratio | 2.91 | 2.91 | 4.50 | 8.39 | 3.96 | 9.29 | 4.07 | 3.13 | 20.82 | 1.72 | 2.58 |
| Cash Ratio | — | — | — | — | — | 0.11 | — | — | — | — | — |
| Asset Turnover | — | 0.17 | 0.14 | -0.18 | 0.21 | 0.11 | 0.20 | -0.05 | 0.17 | 0.12 | 0.04 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 17.8% | 19.6% | 16.6% | — | 24.0% | 12.8% | 22.6% | — | 19.2% | 14.6% | — |
| FCF Yield | — | — | — | — | — | — | 22.6% | — | 19.2% | 14.6% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $52M | $53M | $54M | $55M | $52M | $54M | $54M | $54M | $57M | $59M |
NAV Discount and Leverage
According to recent financial data, TY trades at a P/E of 5.58 and a P/B of 0.94, suggesting that the market consistently prices the fund at a discount to its net asset value, which is a common characteristic among long-standing closed-end funds within the asset management sector.
The current valuation multiples appear to reflect investor skepticism regarding the fund's ability to consistently outperform passive benchmarks, despite its historical longevity. Investors should monitor whether this discount to NAV represents a structural valuation floor or a persistent lack of market confidence in the fund's active management strategy.
Based on reported figures, TY's ROIC has fluctuated significantly, ranging from a low of -12.8% in 2022Q2 to a high of 13.7% in 2020Q4, which highlights the fund's sensitivity to equity market volatility rather than internal operational efficiency or capital compounding capabilities.
The volatility in ROIC suggests that the fund's ability to generate returns is tethered to the performance of its underlying large-cap equity portfolio. This performance profile warrants further investigation into whether the fund's management can maintain competitive returns during periods of broader market contraction or sector-specific downturns.
As reported in financial statements, TY's asset turnover remains consistently low, often hovering near 0.02 to 0.08, which is consistent with its mandate as a long-term equity holder rather than an active trader of its underlying portfolio assets.
The low turnover ratio confirms that the fund's operational model is not designed for high-frequency asset rotation, but rather for long-term capital appreciation. This efficiency metric should be interpreted as a reflection of the fund's investment strategy rather than an indicator of operational sluggishness.
Based on an analysis of the fund's capital structure, the debt-to-equity ratio is frequently misapplied to TY, as it fails to account for the legacy perpetual preferred stock that functions as a form of permanent, low-cost leverage rather than traditional debt.
Standard debt metrics obscure the true risk profile of the fund by treating this preferred stock as a negligible liability. Analysts should instead focus on the impact of this fixed-rate financing on the net investment income available to common shareholders, as it provides a structural advantage that is impossible to replicate in modern credit markets.
Includes 30+ ratios · 29 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TY stock.
Tri-Continental Corporation's current P/E ratio is 5.6x. The historical average is 9.3x. This places it at the 61th percentile of its historical range.
Tri-Continental Corporation's current EV/EBITDA is 5.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.0x.
Tri-Continental Corporation's return on equity (ROE) is 17.6%. The historical average is 14.2%.
Based on historical data, Tri-Continental Corporation is trading at a P/E of 5.6x. This is at the 61th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Tri-Continental Corporation has 100.0% gross margin and 99.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Tri-Continental Corporation's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.