Latest Ratios: P/E Ratio -3.3x · EV/EBITDA 7.2x · ROE N/A. (2000–2025 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 | $492M | $242M | $244M | $483M | $810M | $460M | $307M | $782M | $573M | $456M | $265M |
| Enterprise Value | $703M | $452M | $530M | $713M | $1.1B | $957M | $901M | $1.5B | $1.2B | $1.3B | $1.2B |
| P/E Ratio → | -3.28 | — | — | 29.64 | 3.51 | — | 8.35 | 10.69 | 2.30 | 5.91 | — |
| P/S Ratio | 0.98 | 0.48 | 0.46 | 0.91 | 0.88 | 0.82 | 0.89 | 1.46 | 0.99 | 0.94 | 0.66 |
| P/B Ratio | — | — | — | 15.50 | 106.05 | — | — | — | — | — | — |
| P/FCF | 17.74 | 8.70 | — | 14.11 | 3.29 | 4.55 | 3.52 | — | 2.88 | 16.02 | — |
| P/OCF | 6.38 | 3.13 | 4.10 | 4.19 | 2.38 | 3.44 | 2.83 | 3.37 | 1.78 | 2.86 | 18.68 |
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 | — | 0.90 | 1.01 | 1.34 | 1.14 | 1.71 | 2.60 | 2.76 | 2.02 | 2.77 | 3.04 |
| EV / EBITDA | 7.25 | 4.66 | 3.98 | 4.12 | 1.79 | 3.16 | 7.44 | 5.53 | 2.96 | 5.08 | — |
| EV / EBIT | — | — | — | 9.07 | 2.97 | 46.65 | 13.03 | 25.25 | 3.94 | 11.97 | — |
| EV / FCF | — | 16.27 | — | 20.82 | 4.28 | 9.48 | 10.30 | — | 5.90 | 47.44 | — |
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 | 71.7% | 71.7% | 67.4% | 73.5% | 84.6% | 78.8% | 65.8% | 70.6% | 70.0% | 63.5% | 40.9% |
| Operating Margin | -10.5% | -10.5% | -8.0% | 5.5% | 49.3% | 34.0% | 0.2% | 22.2% | 42.5% | 22.6% | -82.6% |
| Net Profit Margin | -29.9% | -29.9% | -16.6% | 2.9% | 25.1% | -7.4% | 10.9% | 13.9% | 42.8% | 16.4% | -62.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | 80.3% | 3027.9% | — | — | — | — | — | — |
| ROA | -14.6% | -14.6% | -7.9% | 1.2% | 17.6% | -3.9% | 3.9% | 8.0% | 28.3% | 9.2% | -24.4% |
| ROIC | -32.5% | -32.5% | -12.8% | 8.6% | 135.6% | 44.8% | 0.1% | 24.7% | 62.3% | 27.0% | -56.6% |
| ROCE | -6.7% | -6.7% | -4.8% | 3.8% | 60.2% | 22.4% | 0.1% | 16.1% | 35.2% | 16.1% | -41.1% |
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 | — | — | — | 12.92 | 92.43 | — | — | — | — | — | — |
| Debt / EBITDA | 3.62 | 3.62 | 2.96 | 2.33 | 1.20 | 2.45 | 5.26 | 2.72 | 1.60 | 3.73 | — |
| Net Debt / Equity | — | — | — | 7.36 | 31.99 | — | — | — | — | — | — |
| Net Debt / EBITDA | 2.17 | 2.17 | 2.15 | 1.33 | 0.42 | 1.64 | 4.90 | 2.60 | 1.51 | 3.36 | — |
| Debt / FCF | — | 7.57 | — | 6.70 | 0.99 | 4.93 | 6.79 | — | 3.02 | 31.41 | — |
| Interest Coverage | -1.72 | -1.72 | -1.40 | 1.76 | 5.10 | 0.29 | 1.12 | 0.98 | 6.13 | 2.46 | -2.25 |
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 | 1.02 | 1.02 | 0.89 | 1.22 | 0.72 | 1.10 | 0.93 | 0.75 | 1.21 | 1.13 | 0.94 |
| Quick Ratio | 1.02 | 1.02 | 0.89 | 1.22 | 0.72 | 1.10 | 0.93 | 0.75 | 1.21 | 1.13 | 0.94 |
| Cash Ratio | 0.60 | 0.60 | 0.44 | 0.80 | 0.58 | 0.76 | 0.38 | 0.17 | 0.18 | 0.59 | 0.35 |
| Asset Turnover | — | 0.52 | 0.48 | 0.48 | 0.64 | 0.47 | 0.37 | 0.53 | 0.68 | 0.54 | 0.48 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 61.22 | 62.12 | 47.81 | 31.76 | 42.30 | 52.30 | 53.65 | 73.23 | 58.60 | 97.64 |
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 | 1.2% | 2.5% | 2.4% | 0.3% | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | 9.4% | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 3.4% | 28.5% | — | 12.0% | 9.4% | 43.4% | 16.9% | — |
| FCF Yield | 5.6% | 11.5% | — | 7.1% | 30.4% | 22.0% | 28.4% | — | 34.7% | 6.2% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.2% | 2.5% | 2.4% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $148M | $147M | $148M | $145M | $142M | $142M | $141M | $139M | $138M | $96M |
Decommissioning liability insolvency risk
According to current market data, WTI trades at an EV/EBITDA multiple of 7.11, which appears to reflect a significant risk premium compared to peers like Civitas Resources, suggesting that investors are heavily discounting the company's future cash flows due to its precarious balance sheet and high decommissioning liabilities.
The negative P/E ratio of -3.19 underscores the lack of consistent earnings, rendering traditional valuation metrics largely ineffective for assessing the firm's intrinsic value. Investors should monitor the forward EV/EBITDA of 3.75, which implies that the market is pricing in a potential recovery in operational efficiency that may not materialize given the company's historical inability to maintain positive operating margins.
As reported in recent financial statements, WTI's ROIC has fluctuated wildly, reaching a low of -43.8% in 2025Q4, which indicates that the company is failing to generate adequate returns on its invested capital while struggling to offset the rapid natural decline rates of its aging Gulf of Mexico fields.
The persistent inability to achieve a sustained positive ROIC suggests that the capital deployed into asset acquisitions is not being recouped through production profits. This trend warrants further investigation into whether the company's 'secondary market' strategy is fundamentally flawed or if it is merely suffering from the cyclical nature of commodity pricing.
Based on quarterly filings, WTI's asset turnover remains consistently low at approximately 0.11 to 0.16, highlighting the extreme capital intensity required to operate offshore infrastructure and the company's limited ability to generate revenue relative to its significant investment in property, plant, and equipment.
The high DPO figures, which have spiked as high as 232 days, suggest that the company may be relying on extended payment terms with suppliers to manage its liquidity constraints. This reliance on supplier leverage appears to be a defensive measure rather than a strategic choice, potentially signaling underlying stress in the firm's operational cash cycle.
According to recent data, WTI's interest coverage ratio has frequently dipped into negative territory, such as the -3.15 level observed in 2024Q3, indicating that the company's operating income is insufficient to cover its debt obligations, thereby increasing the risk of a liquidity crisis during commodity price downturns.
The absence of a stable debt-to-equity ratio due to negative equity positions suggests that the company is effectively insolvent on a book-value basis. Investors should monitor the company's ability to refinance its existing debt load, as any tightening in credit markets could prove existential given the current lack of operational cash flow.
The most commonly misapplied metric for WTI is the standard P/E ratio, which obscures the company's true economic reality by failing to account for the massive, non-cash depreciation and impairment charges inherent in the 'full cost' accounting method used for mature offshore oil and gas assets.
Instead of P/E, analysts should focus on the ratio of Enterprise Value to Proved Reserves or Free Cash Flow yield, as these metrics better capture the underlying value of the hydrocarbon assets and the cash-generative potential of the fields. Relying on earnings-based multiples in this context is misleading, as it ignores the significant decommissioning liabilities that must be funded regardless of the company's reported net income.
Includes 30+ ratios · 26 years · Updated daily
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Quick answers to the most common questions about buying WTI stock.
W&T Offshore, Inc.'s current P/E ratio is -3.3x. The historical average is 12.2x.
W&T Offshore, Inc.'s current EV/EBITDA is 7.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.5x.
Based on historical data, W&T Offshore, Inc. is trading at a P/E of -3.3x. Compare with industry peers and growth rates for a complete picture.
W&T Offshore, Inc.'s current dividend yield is 1.22%.
W&T Offshore, Inc. has 71.7% gross margin and -10.5% operating margin.
W&T Offshore, Inc.'s Debt/EBITDA ratio is 3.6x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.