Latest Ratios: P/E Ratio 32.1x · EV/EBITDA 18.4x · ROE 21.6%. (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 | $10.5B | $8.2B | $6.2B | $4.9B | $7.1B | $5.3B | $3.7B | $3.3B | $2.5B | $3.8B | $3.2B |
| Enterprise Value | $11.2B | $9.0B | $6.9B | $6.0B | $8.0B | $6.2B | $4.1B | $3.8B | $2.9B | $4.0B | $3.6B |
| P/E Ratio → | 32.13 | 24.55 | 17.83 | 34.44 | 28.46 | 26.90 | 26.19 | 22.26 | 26.42 | 32.46 | 18.47 |
| P/S Ratio | 2.55 | 2.00 | 1.52 | 1.18 | 1.64 | 1.50 | 1.27 | 1.18 | 0.90 | 1.37 | 1.27 |
| P/B Ratio | 6.55 | 5.00 | 3.90 | 3.49 | 4.35 | 3.72 | 3.05 | 2.74 | 2.19 | 3.27 | 3.26 |
| P/FCF | 33.63 | 26.39 | 12.59 | 23.53 | 30.63 | — | 17.59 | 15.51 | 30.74 | 41.69 | 19.84 |
| P/OCF | 22.94 | 18.00 | 10.85 | 16.11 | 21.87 | 79.79 | 11.65 | 10.60 | 16.28 | 25.88 | 14.60 |
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 | — | 2.18 | 1.70 | 1.44 | 1.84 | 1.77 | 1.43 | 1.37 | 1.06 | 1.47 | 1.41 |
| EV / EBITDA | 18.36 | 14.66 | 11.15 | 15.41 | 15.05 | 16.34 | 13.38 | 12.19 | 9.93 | 11.46 | 10.85 |
| EV / EBIT | 21.47 | 21.42 | 13.11 | 20.50 | 19.41 | 20.47 | 17.67 | 15.75 | 14.83 | 14.77 | 13.43 |
| EV / FCF | — | 28.76 | 14.02 | 28.63 | 34.27 | — | 19.72 | 17.99 | 36.17 | 44.59 | 22.05 |
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 | 30.2% | 30.2% | 30.5% | 29.6% | 25.9% | 25.2% | 26.4% | 24.7% | 24.2% | 24.8% | 26.0% |
| Operating Margin | 12.7% | 12.7% | 12.9% | 7.0% | 10.0% | 8.2% | 7.8% | 8.2% | 7.7% | 9.7% | 9.7% |
| Net Profit Margin | 8.5% | 8.5% | 8.5% | 3.4% | 5.8% | 5.6% | 4.9% | 5.3% | 3.4% | 4.2% | 6.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.6% | 21.6% | 23.1% | 9.4% | 16.4% | 14.9% | 11.7% | 12.6% | 8.2% | 10.9% | 17.8% |
| ROA | 10.5% | 10.5% | 10.2% | 4.1% | 7.2% | 6.1% | 4.9% | 5.5% | 3.7% | 4.7% | 7.2% |
| ROIC | 16.8% | 16.8% | 16.4% | 8.8% | 13.4% | 10.7% | 10.1% | 10.4% | 10.6% | 14.6% | 13.6% |
| ROCE | 20.3% | 20.3% | 19.9% | 10.6% | 15.9% | 11.5% | 10.0% | 10.4% | 9.8% | 12.6% | 12.0% |
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 | 0.56 | 0.56 | 0.54 | 0.90 | 0.63 | 0.79 | 0.70 | 0.73 | 0.66 | 0.66 | 0.77 |
| Debt / EBITDA | 1.52 | 1.52 | 1.40 | 3.27 | 1.95 | 2.93 | 2.74 | 2.82 | 2.55 | 2.14 | 2.31 |
| Net Debt / Equity | — | 0.45 | 0.44 | 0.76 | 0.52 | 0.66 | 0.37 | 0.44 | 0.39 | 0.23 | 0.36 |
| Net Debt / EBITDA | 1.21 | 1.21 | 1.13 | 2.75 | 1.60 | 2.47 | 1.44 | 1.68 | 1.49 | 0.74 | 1.09 |
| Debt / FCF | — | 2.37 | 1.42 | 5.10 | 3.64 | — | 2.13 | 2.47 | 5.43 | 2.90 | 2.21 |
| Interest Coverage | 10.31 | 10.31 | 8.98 | 5.16 | 8.66 | 7.10 | 5.69 | 5.98 | 4.47 | 6.12 | 5.96 |
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 | 2.35 | 2.35 | 2.07 | 2.47 | 2.21 | 2.24 | 2.32 | 2.70 | 3.28 | 3.65 | 3.58 |
| Quick Ratio | 1.58 | 1.58 | 1.35 | 1.56 | 1.31 | 1.28 | 1.65 | 1.97 | 2.34 | 2.61 | 2.58 |
| Cash Ratio | 0.26 | 0.26 | 0.20 | 0.28 | 0.23 | 0.23 | 0.60 | 0.69 | 0.77 | 1.22 | 1.14 |
| Asset Turnover | — | 1.22 | 1.22 | 1.20 | 1.22 | 1.02 | 0.98 | 1.00 | 1.09 | 1.06 | 1.05 |
| Inventory Turnover | 5.06 | 5.06 | 4.80 | 4.46 | 4.42 | 3.59 | 4.74 | 5.56 | 5.45 | 4.90 | 5.33 |
| Days Sales Outstanding | — | 79.63 | 75.38 | 72.96 | 65.41 | 75.37 | 80.08 | 82.88 | 79.57 | 70.63 | 64.55 |
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% | 0.6% | 0.8% | 1.0% | 0.6% | 0.8% | 1.0% | 1.0% | 1.4% | 0.9% | 1.1% |
| Payout Ratio | 15.0% | 15.0% | 13.9% | 34.5% | 18.3% | 21.2% | 26.2% | 22.3% | 35.7% | 29.1% | 19.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.1% | 4.1% | 5.6% | 2.9% | 3.5% | 3.7% | 3.8% | 4.5% | 3.8% | 3.1% | 5.4% |
| FCF Yield | 3.0% | 3.8% | 7.9% | 4.3% | 3.3% | — | 5.7% | 6.4% | 3.3% | 2.4% | 5.0% |
| Buyback Yield | 1.9% | 2.4% | 1.1% | 7.0% | 0.6% | 0.5% | 1.5% | 1.9% | 4.6% | 0.0% | 1.7% |
| Total Shareholder Yield | 2.4% | 3.0% | 1.9% | 8.0% | 1.2% | 1.3% | 2.5% | 2.9% | 6.0% | 0.9% | 2.7% |
| Shares Outstanding | — | $20M | $20M | $21M | $22M | $21M | $21M | $22M | $22M | $23M | $23M |
Cyclical Commodity Input Exposure
Based on current market data, Valmont’s P/E ratio of 33.87 appears elevated relative to its historical averages, suggesting that investors are pricing in a premium for grid-hardening exposure while potentially ignoring the cyclical volatility inherent in the company's agricultural segment and its recent portfolio optimization efforts.
The forward P/E of 24.91 implies that the market expects a significant earnings recovery, likely driven by infrastructure tailwinds. However, this valuation may be misaligned with the company's historical growth rates, warranting caution regarding whether the current multiple reflects sustainable earnings power or merely temporary optimism surrounding utility-related capital expenditure.
According to recent financial statements, Valmont’s ROIC has struggled to consistently exceed 5%, with the most recent 2026Q1 figure of 4.7% highlighting a persistent challenge in generating superior returns on invested capital despite the company's strategic divestiture of lower-margin, capital-intensive offshore wind assets.
The low ROIC relative to peers like Ituran Location and Services suggests that Valmont’s heavy manufacturing footprint may be a drag on capital efficiency. Investors should monitor whether the company's pivot toward technology-integrated products can meaningfully improve these returns or if the structural costs of steel fabrication will continue to limit long-term compounding.
As reported in quarterly filings, Valmont’s cash conversion cycle remains elevated at 105 days in 2026Q1, reflecting the inherent difficulties in managing inventory and receivables across disparate infrastructure and agricultural markets, which significantly hampers the company's ability to generate consistent, free cash flow on a quarterly basis.
The high days-sales-outstanding and inventory-on-hand figures suggest that Valmont carries substantial working capital risk, which is exacerbated by the lumpy nature of large-scale utility projects. This inefficiency appears to be a structural feature of the business model rather than a temporary operational lapse, requiring careful management to avoid liquidity strain.
Based on an analysis of Valmont's business model, the P/E ratio is frequently misapplied by market participants, as it fails to account for the significant non-cash charges and cyclical inventory accounting adjustments that often distort the company's reported earnings and mask its true underlying cash-generating capacity.
Investors should prioritize EV/EBITDA or free cash flow yield over P/E, as these metrics better normalize for the company's capital structure and the volatility introduced by LIFO inventory accounting. Relying on P/E alone risks misinterpreting the company's valuation during periods of commodity price swings, which can artificially inflate or deflate earnings per share.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying VMI stock.
Valmont Industries, Inc.'s current P/E ratio is 32.1x. The historical average is 21.9x. This places it at the 90th percentile of its historical range.
Valmont Industries, Inc.'s current EV/EBITDA is 18.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.9x.
Valmont Industries, Inc.'s return on equity (ROE) is 21.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 14.9%.
Based on historical data, Valmont Industries, Inc. is trading at a P/E of 32.1x. This is at the 90th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Valmont Industries, Inc.'s current dividend yield is 0.49% with a payout ratio of 15.0%.
Valmont Industries, Inc. has 30.2% gross margin and 12.7% operating margin. Operating margin between 10-20% is typical for established companies.
Valmont Industries, Inc.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.