Latest Ratios: P/E Ratio 33.9x · EV/EBITDA 14.6x · ROE 6.9%. (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 | $4.9B | $3.3B | $3.6B | $3.3B | $3.5B | $4.4B | $3.8B | $3.8B | $3.7B | $2.9B | $2.6B |
| Enterprise Value | $4.8B | $3.2B | $3.5B | $3.2B | $3.1B | $4.4B | $3.8B | $3.4B | $3.4B | $2.6B | $2.2B |
| P/E Ratio → | 33.88 | 22.28 | 24.41 | 31.45 | 33.53 | 28.82 | 27.63 | 21.00 | 22.56 | 41.74 | 20.81 |
| P/S Ratio | 2.02 | 1.36 | 1.46 | 1.46 | 1.73 | 2.39 | 2.08 | 2.08 | 2.18 | 1.83 | 1.76 |
| P/B Ratio | 2.32 | 1.52 | 1.68 | 1.63 | 1.81 | 2.33 | 2.15 | 2.29 | 2.52 | 2.00 | 1.90 |
| P/FCF | 34.75 | 23.37 | 26.34 | 74.54 | — | 55.38 | 22.07 | 23.17 | 31.51 | 26.54 | 23.65 |
| P/OCF | 16.61 | 11.17 | 12.03 | 15.12 | 28.26 | 20.52 | 13.09 | 13.33 | 16.07 | 13.34 | 12.46 |
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 | — | 1.30 | 1.42 | 1.45 | 1.57 | 2.43 | 2.13 | 1.87 | 2.02 | 1.61 | 1.51 |
| EV / EBITDA | 14.62 | 9.70 | 10.64 | 12.65 | 12.84 | 14.65 | 13.78 | 10.02 | 12.21 | 12.77 | 7.82 |
| EV / EBIT | 25.91 | 16.24 | 18.26 | 23.40 | 23.39 | 22.57 | 22.21 | 14.19 | 18.30 | 22.25 | 10.88 |
| EV / FCF | — | 22.45 | 25.65 | 74.21 | — | 56.48 | 22.57 | 20.79 | 29.21 | 23.35 | 20.33 |
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 | 30.8% | 30.8% | 34.9% | 33.7% | 34.7% | 37.5% | 35.4% | 37.0% | 37.7% | 37.5% | 38.7% |
| Operating Margin | 7.6% | 7.6% | 7.6% | 6.0% | 6.7% | 10.7% | 9.6% | 12.8% | 10.8% | 6.9% | 13.7% |
| Net Profit Margin | 6.1% | 6.1% | 6.0% | 4.6% | 5.2% | 8.3% | 7.5% | 9.9% | 9.7% | 4.4% | 8.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.9% | 6.9% | 7.1% | 5.3% | 5.5% | 8.4% | 8.0% | 11.5% | 11.2% | 5.0% | 9.6% |
| ROA | 5.4% | 5.4% | 5.5% | 4.1% | 4.3% | 6.6% | 6.4% | 9.2% | 8.9% | 4.0% | 7.7% |
| ROIC | 6.8% | 6.8% | 6.9% | 5.6% | 5.7% | 7.8% | 8.4% | 14.2% | 11.9% | 7.9% | 15.3% |
| ROCE | 7.5% | 7.5% | 7.8% | 6.0% | 6.2% | 9.5% | 9.0% | 13.2% | 11.1% | 6.9% | 13.9% |
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 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.02 | 0.02 | — | — | — | — |
| Debt / EBITDA | 0.22 | 0.22 | 0.21 | 0.25 | 0.21 | 0.14 | 0.15 | — | — | — | — |
| Net Debt / Equity | — | -0.06 | -0.04 | -0.01 | -0.17 | 0.05 | 0.05 | -0.23 | -0.18 | -0.24 | -0.27 |
| Net Debt / EBITDA | -0.40 | -0.40 | -0.29 | -0.06 | -1.33 | 0.28 | 0.30 | -1.14 | -0.96 | -1.74 | -1.28 |
| Debt / FCF | — | -0.93 | -0.69 | -0.34 | — | 1.10 | 0.49 | -2.37 | -2.31 | -3.19 | -3.33 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | 220.39 |
Net cash position: cash ($204M) exceeds total debt ($72M)
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 | 3.12 | 3.12 | 3.25 | 3.14 | 4.36 | 4.33 | 4.61 | 4.81 | 3.95 | 4.58 | 5.09 |
| Quick Ratio | 1.83 | 1.83 | 1.85 | 1.66 | 2.84 | 3.06 | 3.37 | 3.31 | 2.62 | 3.28 | 3.67 |
| Cash Ratio | 0.72 | 0.72 | 0.62 | 0.34 | 1.54 | 2.01 | 2.26 | 2.03 | 1.36 | 1.97 | 2.38 |
| Asset Turnover | — | 0.88 | 0.90 | 0.87 | 0.82 | 0.77 | 0.82 | 0.88 | 0.92 | 0.87 | 0.86 |
| Inventory Turnover | 4.51 | 4.51 | 4.00 | 3.73 | 3.52 | 3.51 | 4.47 | 3.99 | 3.99 | 4.31 | 4.15 |
| Days Sales Outstanding | — | 42.81 | 41.93 | 45.62 | 45.46 | 41.64 | 38.62 | 41.04 | 43.20 | 42.94 | 38.93 |
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% | 0.7% | 0.7% | 0.7% | 0.6% | 0.4% | 0.4% | 0.2% | 0.1% | 0.1% | 0.1% |
| Payout Ratio | 16.6% | 16.6% | 16.0% | 21.3% | 20.1% | 12.0% | 11.6% | 4.6% | 2.6% | 4.1% | 2.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.0% | 4.5% | 4.1% | 3.2% | 3.0% | 3.5% | 3.6% | 4.8% | 4.4% | 2.4% | 4.8% |
| FCF Yield | 2.9% | 4.3% | 3.8% | 1.3% | — | 1.8% | 4.5% | 4.3% | 3.2% | 3.8% | 4.2% |
| Buyback Yield | 1.4% | 2.1% | 0.7% | 0.1% | 1.3% | 0.3% | 0.6% | 0.8% | 3.9% | 0.1% | 0.2% |
| Total Shareholder Yield | 1.9% | 2.9% | 1.3% | 0.8% | 1.9% | 0.7% | 1.0% | 1.0% | 4.1% | 0.2% | 0.3% |
| Shares Outstanding | — | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $20M | $20M | $20M |
Operational margin compression
Based on current market data, UniFirst trades at a TTM P/E of 33.34, which appears disconnected from its decelerating growth profile and suggests investors are pricing in a stability premium that may not be supported by recent performance metrics compared to more efficient industry peers.
The forward P/E of 37.52 implies an expectation of earnings recovery that remains speculative given the current stagnation in revenue. When compared to the broader industrial services sector, the valuation appears to overstate the company's growth prospects while failing to account for the persistent margin compression observed in recent quarters.
According to recent financial statements, UniFirst's ROIC has compressed to 0.9% in 2026Q2, a significant decline from historical levels that indicates the company is struggling to generate adequate returns on its heavy investments in laundry infrastructure and technology-driven service upgrades.
The downward trend in ROIC suggests that the capital-intensive nature of the business is currently outpacing the company's ability to drive incremental profitability. This decay in returns warrants further investigation into whether the ongoing CRM and ERP technology transformation is creating temporary friction or if there is a more permanent structural impairment to capital efficiency.
As reported in quarterly filings, UniFirst's cash conversion cycle has reached 108 days in 2026Q2, reflecting persistent inefficiencies in inventory management and a potential slowdown in the velocity of its industrial rental operations compared to historical benchmarks for the specialty business services sector.
The elevated DIO of 86 days suggests that the company may be carrying excess garment inventory or struggling with slower turnover in its rental fleet. Investors should monitor whether these metrics improve as the company integrates its new technology platforms, as current levels indicate a drag on overall asset turnover.
Based on reported figures, UniFirst maintains a debt-to-equity ratio of 0.03%, which provides an exceptionally strong liquidity buffer but simultaneously limits the company's ability to enhance shareholder returns through the strategic use of leverage common among its more aggressive industry competitors.
While this conservative stance offers significant downside protection during economic volatility, it appears to contribute to a lower ROE compared to peers who utilize debt to optimize their capital structure. The lack of meaningful interest coverage data further underscores that the company is effectively self-funding its operations, which may be an inefficient use of capital in a low-interest-rate environment.
The P/E ratio is frequently misapplied to UniFirst because it fails to account for the company's massive cash position and the significant non-cash amortization of rental garments, which together distort the perceived earnings quality and mask the underlying cash-generating potential of the business model.
Analysts should prioritize EV/EBITDA or P/FCF metrics to better assess the company's valuation, as these ratios strip away the impact of the company's unique capital structure and accounting treatments. Relying solely on P/E risks misinterpreting the company's valuation by ignoring the strategic value of its cash reserves and the impact of its heavy depreciation schedule.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying UNF stock.
UniFirst Corporation's current P/E ratio is 33.9x. The historical average is 19.1x. This places it at the 97th percentile of its historical range.
UniFirst Corporation's current EV/EBITDA is 14.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.0x.
UniFirst Corporation's return on equity (ROE) is 6.9%. The historical average is 9.8%.
Based on historical data, UniFirst Corporation is trading at a P/E of 33.9x. This is at the 97th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
UniFirst Corporation's current dividend yield is 0.49% with a payout ratio of 16.6%.
UniFirst Corporation has 30.8% gross margin and 7.6% operating margin.
UniFirst Corporation's Debt/EBITDA ratio is 0.2x, indicating low leverage. A ratio below 2x is generally considered financially healthy.