Latest Ratios: P/E Ratio 45.8x · EV/EBITDA 27.3x · ROE 2.5%. (2004–2025 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 | $771M | $918M | $495M | $303M | $398M | $325M | $262M | $904M | $1.0B | $1.3B | $1.5B |
| Enterprise Value | $1.0B | $1.2B | $622M | $375M | $510M | $428M | $363M | $1.4B | $1.5B | $1.8B | $2.2B |
| P/E Ratio → | 45.83 | 47.41 | 2.35 | — | 3.85 | 2.88 | — | — | 10.76 | — | 14.11 |
| P/S Ratio | 71.16 | 84.69 | 2.31 | 19.20 | 2.95 | 7.02 | — | — | 12.92 | — | 8.16 |
| P/B Ratio | 0.90 | 0.93 | 0.89 | 0.80 | 0.89 | 0.81 | 0.86 | 0.58 | 0.82 | 1.08 | 1.06 |
| P/FCF | 21.59 | 25.69 | 39.56 | 3.34 | 9.00 | 14.12 | 0.49 | 5.42 | 18.65 | 8.89 | 37.95 |
| P/OCF | 21.59 | 25.69 | 39.56 | 3.34 | 9.00 | 14.12 | 0.49 | 5.42 | 18.65 | 8.89 | 37.95 |
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 | — | 110.39 | 2.90 | 23.78 | 3.78 | 9.24 | — | — | 18.98 | — | 12.07 |
| EV / EBITDA | 27.26 | 31.06 | 2.93 | — | 4.60 | 2.76 | — | — | 13.27 | — | 10.04 |
| EV / EBIT | 21.92 | 25.12 | 2.90 | — | 4.35 | 2.76 | — | — | — | — | 13.12 |
| EV / FCF | — | 33.49 | 49.72 | 4.13 | 11.54 | 18.59 | 0.67 | 8.17 | 27.41 | 12.53 | 56.10 |
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 | 0.7% | 0.7% | 100.0% | 100.0% | 84.8% | 12.6% | 101.4% | 111.1% | 71.9% | 121.0% | 86.7% |
| Operating Margin | 441.9% | 441.9% | 98.4% | 54.4% | 86.9% | 334.2% | -0.2% | 104.8% | 112.5% | 93.0% | 108.5% |
| Net Profit Margin | 178.6% | 178.6% | 98.4% | -99.1% | 76.5% | 243.9% | 101.4% | 103.4% | 120.1% | 93.3% | 57.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.5% | 2.5% | 44.9% | -3.8% | 24.4% | 32.0% | -62.0% | -13.6% | 7.9% | -8.7% | 7.5% |
| ROA | 2.0% | 2.0% | 35.7% | -2.8% | 17.2% | 21.9% | -53.9% | -10.0% | 4.4% | -4.7% | 3.9% |
| ROIC | 3.7% | 3.7% | 27.8% | 1.2% | 16.0% | 25.5% | 0.1% | -7.7% | 3.9% | -4.4% | 6.7% |
| ROCE | 5.0% | 5.0% | 37.3% | 1.5% | 19.8% | 30.4% | 0.1% | -10.5% | 4.2% | -4.8% | 7.7% |
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 | 0.19 | 0.33 | 0.26 | 0.33 | 0.30 | 0.39 | 0.44 | 0.51 |
| Debt / EBITDA | 7.25 | 7.25 | 0.60 | — | 1.34 | 0.66 | — | — | 4.24 | — | 3.25 |
| Net Debt / Equity | — | 0.28 | 0.23 | 0.19 | 0.25 | 0.26 | 0.33 | 0.30 | 0.39 | 0.44 | 0.51 |
| Net Debt / EBITDA | 7.23 | 7.23 | 0.60 | — | 1.01 | 0.66 | — | — | 4.24 | — | 3.25 |
| Debt / FCF | — | 7.80 | 10.16 | 0.80 | 2.54 | 4.47 | 0.19 | 2.75 | 8.76 | 3.64 | 18.15 |
| Interest Coverage | 5.23 | 5.23 | 59.81 | -0.77 | 30.21 | 39.99 | -84.28 | -12.51 | -2.06 | -10.61 | 0.84 |
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 | — | — | 0.01 | 0.13 | 1.89 | 1.00 | 1.79 | 0.04 | 0.02 | 0.81 | 0.15 |
| Quick Ratio | — | — | 0.01 | 0.13 | 1.89 | 1.00 | 1.79 | 0.04 | 0.02 | 0.81 | 0.15 |
| Cash Ratio | 0.31 | 0.31 | — | — | — | — | — | — | -0.00 | — | -0.00 |
| Asset Turnover | — | 0.01 | 0.31 | 0.03 | 0.22 | 0.08 | -1.25 | -0.11 | 0.04 | -0.05 | 0.07 |
| 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 8.9% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | 15.2% | — | 32.4% | 15.5% | — | — | 136.7% | — | 116.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.2% | 2.1% | 42.6% | — | 26.0% | 34.8% | — | — | 9.3% | — | 7.1% |
| FCF Yield | 4.6% | 3.9% | 2.5% | 30.0% | 11.1% | 7.1% | 205.7% | 18.5% | 5.4% | 11.2% | 2.6% |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 8.9% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $21M | $11M | $11M | $12M | $12M | $14M | $13M | $11M | $12M | $12M |
NAV volatility and leverage
According to recent financial data, TYG trades at a P/S ratio of 71.30 and a P/FCF of 21.63, suggesting that market participants are pricing the fund based on volatile asset valuation swings rather than stable, recurring cash flow generation from its underlying midstream energy infrastructure portfolio.
The elevated P/S multiple is largely a byproduct of the fund's accounting for unrealized gains, which renders traditional revenue-based valuation metrics unreliable for assessing intrinsic value. Investors should monitor the discount or premium to NAV as a more accurate reflection of market sentiment, as the current P/B of 0.90 indicates the market continues to apply a discount to the fund's net asset value.
Based on reported figures, TYG's ROIC has remained consistently low, hovering near 0.4% to 0.8% over the last ten quarters, which indicates that the fund struggles to generate meaningful returns on invested capital beyond the cyclical appreciation of its underlying energy infrastructure holdings.
The persistent gap between ROE and ROIC highlights the impact of structural leverage on shareholder returns, where debt amplifies volatility rather than consistently compounding capital. This trend suggests that the fund's ability to create long-term value is heavily dependent on the distribution growth of its MLP holdings rather than internal operational efficiency.
As reported in recent financial statements, TYG maintains a debt-to-equity ratio of 0.28, which, while appearing moderate, warrants caution given the fund's interest coverage ratio of 17.64 in 2025Q4 and its historical vulnerability to forced deleveraging during periods of energy sector market turbulence.
The fund's reliance on structural leverage to amplify exposure to midstream assets creates a binary risk profile where rising interest costs or declining asset values can rapidly erode the net asset value. Investors should monitor the spread between the yield on the fund's assets and the cost of its debt, as any compression in this margin may necessitate a reduction in distributions.
Based on an analysis of the fund's financial structure, the gross margin ratio is the most commonly misapplied metric for TYG, as it fails to account for the non-cash valuation gains that frequently distort the fund's reported income statement and operational performance metrics.
Applying industrial-style gross margin analysis to a closed-end fund obscures the reality that the fund's 'cost of goods sold' is essentially the interest expense and management fees, not production costs. Analysts should instead focus on the expense ratio and the net investment income yield to better understand the fund's true operational efficiency and sustainability.
Includes 30+ ratios · 22 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TYG stock.
Tortoise Energy Infrastructure Corporation's current P/E ratio is 45.8x. The historical average is 21.9x. This places it at the 88th percentile of its historical range.
Tortoise Energy Infrastructure Corporation's current EV/EBITDA is 27.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.0x.
Tortoise Energy Infrastructure Corporation's return on equity (ROE) is 2.5%. The historical average is 5.6%.
Based on historical data, Tortoise Energy Infrastructure Corporation is trading at a P/E of 45.8x. This is at the 88th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Tortoise Energy Infrastructure Corporation's current dividend yield is 8.93%.
Tortoise Energy Infrastructure Corporation has 0.7% gross margin and 441.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Tortoise Energy Infrastructure Corporation's Debt/EBITDA ratio is 7.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.