Latest Ratios: P/E Ratio 21.8x · EV/EBITDA 26.7x · ROE 8.8%. (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 | $168.6B | $153.1B | $101.6B | $101.8B | $63.4B | $64.8B | $52.4B | $47.4B | $47.6B | $70.6B | $59.9B |
| Enterprise Value | $314.9B | $299.4B | $229.0B | $184.1B | $103.4B | $100.7B | $112.2B | $135.2B | $89.6B | $124.5B | $104.9B |
| P/E Ratio → | 21.80 | 19.62 | 19.95 | 3.72 | 8.30 | 8.67 | 7.98 | 11.04 | 10.58 | 73.56 | 17.81 |
| P/S Ratio | 2.28 | 2.07 | 1.37 | 1.77 | 1.72 | 1.85 | 1.63 | 1.34 | 1.29 | 1.97 | 1.62 |
| P/B Ratio | 1.88 | 1.69 | 1.19 | 1.18 | 1.11 | 1.06 | 0.88 | 0.87 | 0.90 | 1.34 | 1.10 |
| P/FCF | 10.91 | 9.91 | 79.94 | 1.21 | 4.88 | 2.19 | 1.49 | 2.62 | 1.75 | — | — |
| P/OCF | 9.73 | 8.84 | 30.99 | 1.18 | 4.33 | 2.06 | 1.42 | 2.41 | 1.64 | — | — |
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 | — | 4.05 | 3.08 | 3.21 | 2.81 | 2.87 | 3.50 | 3.81 | 2.43 | 3.48 | 2.84 |
| EV / EBITDA | 26.68 | 25.37 | 23.75 | 6.73 | 9.59 | 9.49 | 12.36 | 18.34 | 12.42 | 112.35 | 94.14 |
| EV / EBIT | 33.95 | 42.64 | 36.98 | 7.62 | 11.65 | 11.61 | 15.58 | 24.72 | — | — | — |
| EV / FCF | — | 19.37 | 180.14 | 2.18 | 7.95 | 3.40 | 3.20 | 7.46 | 3.29 | — | — |
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 | 66.4% | 66.4% | 55.4% | 56.4% | 83.5% | 91.9% | 86.4% | 79.9% | 99.7% | 99.6% | 99.9% |
| Operating Margin | 12.6% | 12.6% | 8.3% | 42.1% | 24.1% | 24.8% | 22.5% | 15.4% | 16.1% | — | — |
| Net Profit Margin | 10.5% | 10.5% | 6.2% | 40.8% | 19.2% | 19.5% | 18.1% | 11.9% | 12.2% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.8% | 8.8% | 5.4% | 32.5% | 11.9% | 11.3% | 10.1% | 7.8% | 8.5% | — | — |
| ROA | 0.5% | 0.5% | 0.3% | 1.7% | 0.6% | 0.6% | 0.6% | 0.4% | 0.5% | — | — |
| ROIC | 1.6% | 1.6% | 1.0% | 4.8% | 2.4% | 2.3% | 2.0% | 1.8% | 2.2% | — | — |
| ROCE | 1.5% | 1.5% | 0.9% | 4.2% | 2.1% | 2.0% | 1.7% | 1.4% | 0.6% | — | — |
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 | 3.94 | 3.94 | 4.13 | 4.61 | 3.72 | 3.78 | 3.68 | 3.60 | 2.89 | 2.78 | 2.77 |
| Debt / EBITDA | 30.18 | 30.18 | 36.63 | 14.59 | 19.74 | 21.75 | 24.25 | 26.69 | 21.18 | 131.83 | 135.37 |
| Net Debt / Equity | — | 1.62 | 1.49 | 0.95 | 0.70 | 0.59 | 1.00 | 1.61 | 0.79 | 1.03 | 0.82 |
| Net Debt / EBITDA | 12.39 | 12.39 | 13.21 | 3.01 | 3.71 | 3.38 | 6.59 | 11.92 | 5.82 | 48.68 | 40.38 |
| Debt / FCF | — | 9.46 | 100.20 | 0.98 | 3.07 | 1.21 | 1.70 | 4.85 | 1.54 | — | — |
| Interest Coverage | 0.33 | 0.33 | 0.19 | 1.00 | 1.46 | 2.91 | 1.92 | 0.78 | — | — | — |
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 | 0.42 | 0.42 | 0.29 | 0.45 | 0.40 | 0.52 | 0.48 | 0.47 | — | — | — |
| Quick Ratio | 0.42 | 0.42 | 0.29 | 0.45 | 0.40 | 0.52 | 0.48 | 0.47 | — | — | — |
| Cash Ratio | 0.21 | 0.21 | 0.25 | 0.31 | 0.26 | 0.28 | 0.24 | 0.19 | — | — | — |
| Asset Turnover | — | 0.05 | 0.05 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.3% | 1.5% | 2.2% | 1.6% | 2.6% | 2.0% | 5.0% | 5.4% | 5.0% | 3.2% | 5.3% |
| Payout Ratio | 29.3% | 29.3% | 48.9% | 7.2% | 23.7% | 19.1% | 45.0% | 60.3% | 53.3% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.6% | 5.1% | 5.0% | 26.9% | 12.1% | 11.5% | 12.5% | 9.1% | 9.5% | 1.4% | 5.6% |
| FCF Yield | 9.2% | 10.1% | 1.3% | 82.9% | 20.5% | 45.6% | 67.0% | 38.2% | 57.2% | — | — |
| Buyback Yield | 2.4% | 2.7% | 2.9% | 2.7% | 9.5% | 5.2% | 2.6% | 3.3% | 3.0% | 1.0% | 2.1% |
| Total Shareholder Yield | 3.8% | 4.2% | 5.1% | 4.4% | 12.1% | 7.2% | 7.6% | 8.7% | 8.0% | 4.2% | 7.4% |
| Shares Outstanding | — | $3.3B | $3.4B | $3.3B | $3.4B | $3.6B | $3.7B | $3.8B | $3.8B | $3.8B | $3.8B |
Credit Suisse integration complexity
According to recent market data, UBS trades at a P/B of 1.79, which, when compared to peers like Morgan Stanley at 3.00, suggests that investors are applying a significant complexity discount due to the ongoing integration of Credit Suisse's legacy operations and balance sheet.
The current valuation multiple appears to reflect market skepticism regarding the firm's ability to achieve targeted cost synergies and return on tangible equity (ROTCE) improvements. Investors should monitor whether the forward P/E of 14.23 indicates an attractive entry point or a value trap pending further clarity on the structural profitability of the combined entity.
As reported in financial statements, the firm's ROE has fluctuated between -0.8% and 2.2% over the last ten quarters, indicating that the core profitability drivers are currently obscured by the substantial integration costs and operational overhead associated with the recent acquisition of Credit Suisse.
The DuPont decomposition suggests that while the firm maintains a high fee-based revenue contribution, the overall profitability is constrained by asset utilization challenges and the high fixed-cost base. The current ROE levels appear insufficient to justify a premium valuation until the firm demonstrates a sustained improvement in operating leverage.
Based on the reported figures, the efficiency ratio has remained volatile, peaking at 56.2% in 2025Q4, which highlights the difficulty of maintaining cost discipline while simultaneously managing the operational redundancy inherent in merging two global systemically important financial institutions into a single, cohesive platform.
The lack of a clear downward trend in the efficiency ratio suggests that the firm is struggling to realize the projected cost synergies. Investors should monitor whether this metric stabilizes as the integration phase concludes, as persistent overhead levels may continue to weigh on the firm's ability to generate competitive returns.
As noted in industry research, the P/E ratio is frequently misapplied to UBS, as it fails to account for the significant distortion caused by one-time integration charges, restructuring provisions, and negative goodwill accounting that frequently mask the underlying performance of the core wealth management franchise.
Using P/E as a primary valuation metric for this bank obscures the true earnings power of the wealth management division by including non-recurring items. Analysts should instead prioritize P/TBV and adjusted ROTCE to better evaluate the firm's capital-light transition and the long-term value of its client asset base.
Includes 30+ ratios · 27 years · Updated daily
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Quick answers to the most common questions about buying UBS stock.
UBS Group AG's current P/E ratio is 21.8x. The historical average is 16.5x. This places it at the 86th percentile of its historical range.
UBS Group AG's current EV/EBITDA is 26.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 27.8x.
UBS Group AG's return on equity (ROE) is 8.8%. The historical average is 8.7%.
Based on historical data, UBS Group AG is trading at a P/E of 21.8x. This is at the 86th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
UBS Group AG's current dividend yield is 1.34% with a payout ratio of 29.3%.
UBS Group AG has 66.4% gross margin and 12.6% operating margin. Operating margin between 10-20% is typical for established companies.
UBS Group AG's Debt/EBITDA ratio is 30.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.