Latest Ratios: P/E Ratio 24.7x · EV/EBITDA 19.5x · ROE 26.8%. (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 | $2.8B | $1.8B | $1.6B | $1.0B | $781M | $888M | $795M | $735M | $1.1B | $1.7B | $1.5B |
| Enterprise Value | $3.5B | $2.4B | $1.9B | $1.2B | $972M | $1.1B | $909M | $859M | $1.2B | $1.7B | $1.4B |
| P/E Ratio → | 24.65 | 16.25 | 31.82 | 10.83 | 17.58 | 19.74 | — | — | 28.91 | 62.75 | 58.63 |
| P/S Ratio | 5.73 | 3.58 | 3.66 | 2.94 | 2.59 | 2.92 | 3.18 | 2.76 | 3.84 | 7.48 | 6.90 |
| P/B Ratio | 6.48 | 4.27 | 3.92 | 1.89 | 2.56 | 3.29 | 2.99 | 2.00 | 2.22 | 23.33 | 30.08 |
| P/FCF | 18.95 | 11.84 | 13.83 | 12.29 | 14.23 | 11.83 | 17.05 | 15.71 | 28.17 | 37.04 | 28.04 |
| P/OCF | 18.92 | 11.82 | 13.81 | 11.97 | 14.18 | 11.79 | 16.88 | 15.69 | 28.12 | 35.19 | 27.50 |
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 | — | 4.88 | 4.44 | 3.35 | 3.22 | 3.50 | 3.64 | 3.22 | 4.27 | 7.25 | 6.48 |
| EV / EBITDA | 19.51 | 13.55 | 13.53 | 13.06 | 15.85 | 11.62 | 15.34 | 14.87 | 18.70 | 32.77 | 21.91 |
| EV / EBIT | 19.94 | 13.48 | 16.61 | 8.72 | 17.70 | 15.45 | — | 75.57 | 19.83 | 28.43 | 25.53 |
| EV / FCF | — | 16.16 | 16.76 | 14.05 | 17.71 | 14.21 | 19.48 | 18.35 | 31.29 | 35.90 | 26.35 |
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 | 72.1% | 72.1% | 71.6% | 48.2% | 46.0% | 51.7% | 47.4% | 47.3% | 52.1% | 45.8% | 52.3% |
| Operating Margin | 35.3% | 35.3% | 32.1% | 25.1% | 19.9% | 29.3% | 22.0% | 20.1% | 22.4% | 21.5% | 29.0% |
| Net Profit Margin | 22.1% | 22.1% | 15.6% | 29.4% | 16.8% | 16.4% | -14.3% | -3.9% | 13.4% | 11.9% | 11.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 26.8% | 26.8% | 14.2% | 24.2% | 17.6% | 18.6% | -11.3% | -2.5% | 13.4% | 44.1% | 18.4% |
| ROA | 8.6% | 8.6% | 6.7% | 10.4% | 4.9% | 5.1% | -3.9% | -1.1% | 6.3% | 10.8% | 9.6% |
| ROIC | 11.4% | 11.4% | 11.9% | 9.1% | 7.4% | 12.8% | 8.1% | 6.5% | 12.3% | 58.2% | 33.3% |
| ROCE | 16.2% | 16.2% | 15.6% | 10.1% | 6.5% | 10.0% | 6.6% | 6.3% | 11.8% | 24.4% | 28.3% |
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 | 2.31 | 2.31 | 1.28 | 0.51 | 1.06 | 1.18 | 0.70 | 0.54 | 0.41 | 0.02 | 0.03 |
| Debt / EBITDA | 5.37 | 5.37 | 3.65 | 3.07 | 5.26 | 3.48 | 3.16 | 3.44 | 3.11 | 0.04 | 0.02 |
| Net Debt / Equity | — | 1.56 | 0.83 | 0.27 | 0.62 | 0.66 | 0.43 | 0.34 | 0.25 | -0.72 | -1.82 |
| Net Debt / EBITDA | 3.62 | 3.62 | 2.36 | 1.63 | 3.11 | 1.95 | 1.92 | 2.14 | 1.87 | -1.04 | -1.41 |
| Debt / FCF | — | 4.32 | 2.93 | 1.75 | 3.47 | 2.38 | 2.44 | 2.64 | 3.12 | -1.14 | -1.70 |
| Interest Coverage | 5.88 | 5.88 | 6.04 | 8.81 | 3.67 | 5.60 | -2.64 | 1.01 | 7.41 | — | — |
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 | 1.75 | 1.75 | 2.92 | 2.23 | 1.98 | 3.63 | 1.92 | 1.56 | 1.88 | 2.69 | 3.97 |
| Quick Ratio | 1.75 | 1.75 | 2.92 | 2.23 | 1.98 | 3.63 | 1.92 | 1.56 | 1.88 | 2.69 | 3.97 |
| Cash Ratio | 1.11 | 1.11 | 1.66 | 1.25 | 0.89 | 1.68 | 0.99 | 0.95 | 1.24 | 0.94 | 2.08 |
| Asset Turnover | — | 0.33 | 0.41 | 0.37 | 0.29 | 0.29 | 0.28 | 0.29 | 0.30 | 0.90 | 0.88 |
| 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 | 0.6% | 1.0% | 1.2% | 2.0% | 2.5% | 2.2% | 2.5% | 2.8% | 1.8% | 2.6% | 2.9% |
| Payout Ratio | 15.9% | 15.9% | 28.5% | 19.6% | 38.2% | 39.1% | — | — | 52.5% | 161.0% | 166.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.1% | 6.2% | 3.1% | 9.2% | 5.7% | 5.1% | — | — | 3.5% | 1.6% | 1.7% |
| FCF Yield | 5.3% | 8.4% | 7.2% | 8.1% | 7.0% | 8.5% | 5.9% | 6.4% | 3.5% | 2.7% | 3.6% |
| Buyback Yield | 3.6% | 5.8% | 4.0% | 0.3% | 0.4% | 3.9% | 3.9% | 0.3% | 0.3% | 0.5% | 2.6% |
| Total Shareholder Yield | 4.3% | 6.8% | 5.2% | 2.3% | 2.9% | 6.1% | 6.5% | 3.1% | 2.1% | 3.0% | 5.5% |
| Shares Outstanding | — | $145M | $149M | $148M | $143M | $145M | $149M | $152M | $158M | $136M | $136M |
Goodwill Impairment and Leverage
According to current market data, WisdomTree trades at a forward P/E of 14.97, which appears to discount the volatility of its fee-based model while pricing in a premium for its digital asset initiatives relative to traditional asset management peers like Diamond Hill Investment Group.
The valuation gap between the TTM P/E of 22.93 and the forward multiple suggests that investors are anticipating a significant earnings recovery or margin expansion. This pricing implies a reliance on successful scaling of the WisdomTree Prime platform to offset potential fee compression in the core ETF business.
Based on reported financial figures, WisdomTree's ROIC has remained stagnant, hovering near 3% over the last ten quarters, which indicates that the firm is struggling to generate meaningful incremental returns on the capital deployed for its aggressive acquisition and digital infrastructure strategy.
The persistent low ROIC suggests that the firm's investments are not yet yielding the expected synergies or competitive advantages. Investors should monitor whether this trend reflects a structural inability to scale efficiently or merely a temporary drag from the integration of recent strategic purchases.
As reported in recent balance sheets, WisdomTree's debt-to-equity ratio has climbed to 2.53, a marked increase from historical levels, which warrants caution as the firm's interest coverage ratio has become increasingly volatile, dropping to -0.32 in the most recent quarter.
The shift toward a more leveraged capital structure appears to be a departure from the firm's historical conservatism, potentially limiting management's flexibility during market downturns. This increased debt load necessitates a consistent stream of net inflows to ensure debt service remains manageable without further dilutive financing.
According to the provided data, WisdomTree's asset turnover remains consistently low at 0.10, reflecting the capital-intensive nature of its current balance sheet structure and the significant accumulation of goodwill relative to the firm's total revenue-generating capacity.
The lack of meaningful improvement in asset turnover suggests that the firm's growth is being driven by balance sheet expansion rather than operational efficiency. This trend may indicate that the firm is becoming increasingly reliant on inorganic growth, which could mask underlying weaknesses in organic AUM retention.
Investors frequently misapply the Price-to-Book ratio to WisdomTree, as the firm's book value is heavily distorted by $976.6 million in goodwill, which obscures the true economic value of the firm's intellectual property and its core advisory fee-generating business model.
Relying on P/B in this context is misleading because it fails to account for the intangible nature of the firm's assets. A more appropriate metric for evaluating WisdomTree would be an adjusted EV/AUM or a normalized P/E that strips out the non-operating volatility of seed capital investments.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying WT stock.
WisdomTree, Inc.'s current P/E ratio is 24.7x. The historical average is 33.4x. This places it at the 38th percentile of its historical range.
WisdomTree, Inc.'s current EV/EBITDA is 19.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.2x.
WisdomTree, Inc.'s return on equity (ROE) is 26.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -17.1%.
Based on historical data, WisdomTree, Inc. is trading at a P/E of 24.7x. This is at the 38th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
WisdomTree, Inc.'s current dividend yield is 0.65% with a payout ratio of 15.9%.
WisdomTree, Inc. has 72.1% gross margin and 35.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
WisdomTree, Inc.'s Debt/EBITDA ratio is 5.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.