Latest Ratios: P/E Ratio -335.4x · EV/EBITDA 7.0x · ROE -0.2%. (2025–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 |
|---|---|---|
| Market Cap | $1.6B | — |
| Enterprise Value | $1.5B | — |
| P/E Ratio → | -335.40 | — |
| P/S Ratio | 3.00 | — |
| P/B Ratio | 0.79 | — |
| P/FCF | — | — |
| P/OCF | 9.87 | — |
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 |
|---|---|---|
| EV / Revenue | — | — |
| EV / EBITDA | 7.00 | — |
| EV / EBIT | 19.50 | — |
| EV / FCF | — | — |
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 |
|---|---|---|
| Gross Margin | 27.1% | 27.1% |
| Operating Margin | 15.0% | 15.0% |
| Net Profit Margin | -0.9% | -0.9% |
| Metric | TTM | FY 2025 |
|---|---|---|
| ROE | -0.2% | -0.2% |
| ROA | -0.1% | -0.1% |
| ROIC | 3.3% | 3.3% |
| ROCE | 2.2% | 2.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 |
|---|---|---|
| Debt / Equity | 0.01 | 0.01 |
| Debt / EBITDA | 0.06 | 0.06 |
| Net Debt / Equity | — | -0.02 |
| Net Debt / EBITDA | -0.18 | -0.18 |
| Debt / FCF | — | — |
| Interest Coverage | 1.14 | 1.14 |
Net cash position: cash ($52M) exceeds total debt ($13M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 |
|---|---|---|
| Current Ratio | 1.38 | 1.38 |
| Quick Ratio | 1.38 | 1.38 |
| Cash Ratio | 0.27 | 0.27 |
| Asset Turnover | — | 0.14 |
| Inventory Turnover | — | — |
| Days Sales Outstanding | — | 114.09 |
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 |
|---|---|---|
| Dividend Yield | — | — |
| Payout Ratio | — | — |
| Metric | TTM | FY 2025 |
|---|---|---|
| Earnings Yield | — | — |
| FCF Yield | — | — |
| Buyback Yield | 0.0% | — |
| Total Shareholder Yield | 0.0% | — |
| Shares Outstanding | — | $43M |
High capital intensity requirements
Based on reported figures, WBI's forward P/E of 60.49 suggests that the market is pricing in a substantial recovery in profitability, yet the negative TTM P/E of -310.70 highlights the current disconnect between the company's high infrastructure valuation and its actual bottom-line performance.
The P/B ratio of 0.73 indicates that the market is valuing the company at a discount to its book value, which may suggest skepticism regarding the long-term earning power of its asset base. Investors should monitor whether this discount is a structural reflection of regulatory lag or a permanent impairment of the company's ability to generate competitive returns on its capital.
According to quarterly data, WBI's ROIC has struggled to gain traction, peaking at only 1.3% in 2026Q1, which indicates that the company is currently failing to generate returns that exceed the typical cost of capital for midstream energy infrastructure projects.
The persistent low ROIC suggests that the company's massive investment in physical assets has yet to translate into meaningful compounding of shareholder value. This trend warrants further investigation into whether the current capital allocation strategy is prioritizing regional market share over the necessary margin expansion required to drive sustainable returns.
As reported in financial statements, WBI's asset turnover ratio of 0.05 in 2026Q1 underscores the extreme capital intensity of its business model, where the company must maintain a vast network of gathering and transmission assets to generate relatively modest top-line revenue.
The volatility in DSO, which reached as high as 536 days in 2025Q4, suggests significant friction in the company's revenue collection cycle or potential issues with customer credit quality. Such inefficiencies in working capital management appear to be a structural drag on the company's ability to optimize its cash conversion cycle.
Based on the provided figures, WBI has achieved a near-zero debt-to-equity ratio of 0.01 as of 2026Q1, which provides an exceptional degree of financial safety but may also indicate that the company is not utilizing debt to optimize its weighted average cost of capital.
While this conservative posture insulates the company from interest rate volatility and refinancing risks, it appears to be an outlier compared to industry peers who typically utilize leverage to amplify returns on equity. This lack of debt may suggest that the company is currently in a defensive posture or is preparing for a significant strategic shift.
The net margin is the most commonly misapplied metric for WBI, as it obscures the company's true operational health by including non-cash depreciation and regulatory accounting adjustments that are inherent to the midstream energy sector's capital-intensive nature.
Investors should instead focus on EBITDA-based metrics and free cash flow, which better reflect the underlying cash-generative capacity of the gathering and transmission assets. Relying on net margin in this context may lead to an overly pessimistic view of a business that is fundamentally designed to provide long-term, stable utility-like cash flows.
Includes 30+ ratios · 1 years · Updated daily
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Quick answers to the most common questions about buying WBI stock.
WaterBridge Infrastructure LLC's current P/E ratio is -335.4x. This places it at the 50th percentile of its historical range.
WaterBridge Infrastructure LLC's current EV/EBITDA is 7.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
WaterBridge Infrastructure LLC's return on equity (ROE) is -0.2%. The historical average is -0.2%.
Based on historical data, WaterBridge Infrastructure LLC is trading at a P/E of -335.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
WaterBridge Infrastructure LLC has 27.1% gross margin and 15.0% operating margin. Operating margin between 10-20% is typical for established companies.
WaterBridge Infrastructure LLC's Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.