Latest Ratios: P/E Ratio 20.6x · EV/EBITDA 10.0x · ROE 9.5%. (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 | $229M | $181M | $215M | $306M | $366M | $366M | $310M | $403M | $311M | $304M | $274M |
| Enterprise Value | $143M | $96M | $133M | $214M | $292M | $305M | $258M | $361M | $260M | $264M | $248M |
| P/E Ratio → | 20.64 | 16.08 | 15.52 | 18.43 | 22.24 | 24.75 | 28.67 | 27.39 | 16.78 | 35.70 | 22.59 |
| P/S Ratio | 5.94 | 4.71 | 5.26 | 6.10 | 7.01 | 7.46 | 7.34 | 8.60 | 7.41 | 7.35 | 6.97 |
| P/B Ratio | 1.95 | 1.52 | 1.83 | 2.39 | 3.21 | 3.42 | 3.01 | 3.99 | 3.50 | 3.89 | 3.96 |
| P/FCF | 15.97 | 12.66 | 14.75 | 14.15 | 18.02 | 17.72 | 16.06 | — | 18.95 | 19.87 | 24.41 |
| P/OCF | 15.56 | 12.34 | 14.52 | 13.75 | 17.32 | 17.26 | 15.37 | 23.65 | 18.50 | 17.99 | 18.86 |
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 | — | 2.49 | 3.24 | 4.26 | 5.58 | 6.23 | 6.12 | 7.70 | 6.20 | 6.38 | 6.30 |
| EV / EBITDA | 9.97 | 6.67 | 8.10 | 9.23 | 10.85 | 11.67 | 12.35 | 14.73 | 12.02 | 12.13 | 13.02 |
| EV / EBIT | 12.55 | 6.79 | 7.89 | 11.59 | 14.11 | 16.02 | 18.84 | 20.48 | 13.92 | 13.90 | 15.30 |
| EV / FCF | — | 6.69 | 9.09 | 9.88 | 14.34 | 14.79 | 13.40 | — | 15.84 | 17.26 | 22.06 |
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 | 51.6% | 51.6% | 59.0% | 59.8% | 61.6% | 63.0% | 60.6% | 62.8% | 62.6% | 63.7% | 60.3% |
| Operating Margin | 29.6% | 29.6% | 33.2% | 33.4% | 37.9% | 38.5% | 32.5% | 37.6% | 44.5% | 45.9% | 41.2% |
| Net Profit Margin | 29.3% | 29.3% | 33.9% | 33.1% | 31.5% | 30.1% | 25.6% | 31.4% | 44.2% | 20.5% | 30.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.5% | 9.5% | 11.3% | 13.7% | 14.9% | 14.1% | 10.6% | 15.5% | 22.2% | 11.5% | 17.5% |
| ROA | 9.2% | 9.2% | 10.8% | 12.8% | 13.8% | 13.0% | 9.7% | 14.1% | 19.3% | 10.0% | 15.6% |
| ROIC | 25.0% | 25.0% | 28.9% | 33.4% | 34.5% | 28.9% | 18.7% | 27.4% | 36.8% | 35.1% | 27.2% |
| ROCE | 9.6% | 9.6% | 10.9% | 13.5% | 17.2% | 17.2% | 12.8% | 17.6% | 20.5% | 23.6% | 21.8% |
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 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
| Debt / EBITDA | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | — | — | — |
| Net Debt / Equity | — | -0.72 | -0.70 | -0.72 | -0.65 | -0.57 | -0.50 | -0.42 | -0.57 | -0.51 | -0.38 |
| Net Debt / EBITDA | -5.96 | -5.96 | -5.05 | -4.00 | -2.78 | -2.32 | -2.45 | -1.73 | -2.36 | -1.83 | -1.39 |
| Debt / FCF | — | -5.97 | -5.67 | -4.28 | -3.68 | -2.93 | -2.66 | — | -3.11 | -2.60 | -2.35 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($86M) exceeds total debt ($225000)
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 | 37.62 | 37.62 | 25.64 | 22.56 | 15.09 | 19.53 | 16.42 | 15.92 | 11.58 | 9.32 | 11.54 |
| Quick Ratio | 34.57 | 34.57 | 23.29 | 20.53 | 13.61 | 17.77 | 14.78 | 13.91 | 10.55 | 8.32 | 10.03 |
| Cash Ratio | 33.01 | 33.01 | 22.09 | 19.72 | 12.59 | 16.28 | 13.61 | 12.41 | 9.72 | 7.57 | 8.72 |
| Asset Turnover | — | 0.31 | 0.33 | 0.37 | 0.42 | 0.42 | 0.38 | 0.43 | 0.42 | 0.45 | 0.51 |
| Inventory Turnover | 2.35 | 2.35 | 1.90 | 2.11 | 2.28 | 2.75 | 2.67 | 2.52 | 2.90 | 2.86 | 3.44 |
| Days Sales Outstanding | — | 33.37 | 36.53 | 24.64 | 38.66 | 38.18 | 35.52 | 36.90 | 34.38 | 31.93 | 29.82 |
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 | 1.7% | 2.2% | 2.0% | 1.4% | 0.9% | 3.1% | 1.3% | 1.0% | 1.3% | 1.0% | 1.4% |
| Payout Ratio | 35.3% | 35.3% | 30.7% | 25.7% | 19.2% | 77.5% | 38.1% | 27.9% | 21.7% | 34.7% | 32.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.8% | 6.2% | 6.4% | 5.4% | 4.5% | 4.0% | 3.5% | 3.7% | 6.0% | 2.8% | 4.4% |
| FCF Yield | 6.3% | 7.9% | 6.8% | 7.1% | 5.6% | 5.6% | 6.2% | — | 5.3% | 5.0% | 4.1% |
| Buyback Yield | 3.7% | 4.6% | 9.3% | 0.0% | 0.7% | 0.0% | 2.3% | 0.1% | 0.4% | 0.9% | 1.0% |
| Total Shareholder Yield | 5.4% | 6.8% | 11.3% | 1.4% | 1.5% | 3.1% | 3.6% | 1.1% | 1.7% | 1.9% | 2.5% |
| Shares Outstanding | — | $3M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M |
Terminal revenue contraction risk
According to recent financial data, UTMD trades at a forward P/E of 11.77, which appears to discount the company's persistent revenue contraction while failing to fully account for the significant non-operating value embedded in its $85.7 million cash position relative to its market capitalization.
The current valuation multiples suggest the market is pricing UTMD as a terminal asset rather than a growth-oriented medical device firm. Investors should monitor whether the discount to peers like LeMaitre Vascular is justified by the lack of reinvestment or if the company represents an undervalued cash-generative play.
Based on reported figures, UTMD's ROIC has trended between 3.7% and 8.3% over the last ten quarters, a range that appears suppressed by the company's massive, low-yielding cash balance rather than reflecting the underlying profitability of its core medical device manufacturing operations.
While the core business maintains high margins, the overall return on capital is diluted by the accumulation of idle cash. This suggests that management's conservative capital allocation strategy may be hindering the company's ability to compound returns at a rate comparable to more aggressive industry peers.
As reported in recent financial statements, UTMD's cash conversion cycle has fluctuated significantly, reaching 227 days in 2026Q1, primarily driven by high inventory levels that warrant further investigation regarding potential supply chain bottlenecks or strategic stockpiling ahead of regulatory changes.
The company's asset turnover remains low at 0.07, which is consistent with its asset-light, niche-focused business model. Investors should monitor whether the extended inventory days indicate a buildup of slow-moving stock or a necessary buffer to maintain service levels in its specialized clinical markets.
According to quarterly filings, UTMD maintains a current ratio of 28.64 as of 2026Q1, an exceptionally high figure that underscores the company's massive cash position relative to its minimal short-term liabilities, providing an unparalleled buffer against potential regulatory or market-driven shocks.
This liquidity profile is far superior to sector averages and suggests the company is effectively immune to short-term credit market volatility. However, such extreme liquidity may also indicate an inefficient use of the balance sheet that could be better deployed toward strategic growth initiatives.
Based on the provided financial history, the P/E ratio is the most commonly misapplied metric for UTMD, as it fails to adjust for the company's massive cash-to-market-cap ratio, which artificially inflates the earnings multiple and obscures the true valuation of the underlying medical device business.
Analysts should instead utilize an EV/EBITDA metric or an adjusted P/E that subtracts net cash from the market capitalization to better reflect the company's operational earning power. Relying on headline P/E ratios may lead to an incorrect assessment of the company's risk-adjusted terminal value.
Includes 30+ ratios · 30 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying UTMD stock.
Utah Medical Products, Inc.'s current P/E ratio is 20.6x. The historical average is 16.8x. This places it at the 80th percentile of its historical range.
Utah Medical Products, Inc.'s current EV/EBITDA is 10.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.7x.
Utah Medical Products, Inc.'s return on equity (ROE) is 9.5%. The historical average is 22.5%.
Based on historical data, Utah Medical Products, Inc. is trading at a P/E of 20.6x. This is at the 80th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Utah Medical Products, Inc.'s current dividend yield is 1.71% with a payout ratio of 35.3%.
Utah Medical Products, Inc. has 51.6% gross margin and 29.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Utah Medical Products, Inc.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.