Latest Ratios: P/E Ratio 93.3x · EV/EBITDA 11.7x · ROE 2.3%. (2015–2025 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 | $2.1B | $1.1B | $1.4B | $784M | $892M | $548M | $349M | $861M | $469M | $1.3B | — |
| Enterprise Value | $2.5B | $1.4B | $1.5B | $781M | $965M | $530M | $255M | $874M | $515M | $1.4B | — |
| P/E Ratio → | 93.25 | 52.60 | 44.13 | 10.54 | 18.48 | — | — | 309.33 | 12.90 | — | — |
| P/S Ratio | 1.49 | 0.78 | 0.93 | 0.49 | 0.64 | 0.72 | 0.58 | 0.67 | 0.31 | 1.89 | — |
| P/B Ratio | 2.09 | 1.18 | 1.48 | 0.88 | 1.01 | 0.79 | 0.49 | 0.77 | 0.42 | 1.23 | — |
| P/FCF | — | — | — | 5.25 | — | — | 4.13 | 9.18 | 7.00 | — | — |
| P/OCF | 9.78 | 5.09 | 5.76 | 2.75 | 26.85 | — | 3.30 | 4.22 | 2.02 | — | — |
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 | — | 1.03 | 1.01 | 0.49 | 0.70 | 0.69 | 0.42 | 0.68 | 0.34 | 2.02 | — |
| EV / EBITDA | 11.68 | 6.89 | 7.00 | 3.88 | 6.28 | 19.83 | — | 6.08 | 2.63 | 19.08 | — |
| EV / EBIT | 68.65 | 40.49 | 26.01 | 30.96 | 16.24 | — | — | 99.57 | 5.51 | — | — |
| EV / FCF | — | — | — | 5.22 | — | — | 3.02 | 9.31 | 7.68 | — | — |
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 | 14.0% | 14.0% | 15.1% | 14.6% | 11.6% | 2.7% | -4.8% | 11.5% | 13.0% | 8.3% | -14.6% |
| Operating Margin | 2.5% | 2.5% | 3.8% | 3.9% | 2.8% | -8.6% | -65.2% | 1.8% | 4.0% | -4.3% | -98.9% |
| Net Profit Margin | 1.5% | 1.5% | 2.1% | 4.7% | 3.5% | -5.5% | -56.0% | 0.2% | 2.4% | -2.4% | -0.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.3% | 2.3% | 3.4% | 8.4% | 6.1% | -6.0% | -37.2% | 0.3% | 3.4% | -2.4% | -0.3% |
| ROA | 1.4% | 1.4% | 2.4% | 6.1% | 4.4% | -4.6% | -30.5% | 0.2% | 2.7% | -1.9% | -0.2% |
| ROIC | 2.3% | 2.3% | 4.3% | 5.0% | 3.6% | -7.6% | -34.1% | 1.5% | 4.0% | -3.1% | -50.4% |
| ROCE | 2.9% | 2.9% | 5.1% | 6.1% | 4.4% | -8.3% | -39.8% | 1.9% | 5.2% | -3.9% | -63.4% |
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 | 0.40 | 0.40 | 0.14 | 0.06 | 0.09 | 0.10 | 0.11 | 0.08 | 0.06 | 0.09 | 0.05 |
| Debt / EBITDA | 1.78 | 1.78 | 0.63 | 0.27 | 0.52 | 2.52 | — | 0.64 | 0.32 | 1.31 | — |
| Net Debt / Equity | — | 0.38 | 0.12 | -0.00 | 0.08 | -0.03 | -0.13 | 0.01 | 0.04 | 0.09 | -0.07 |
| Net Debt / EBITDA | 1.69 | 1.69 | 0.54 | -0.02 | 0.47 | -0.69 | — | 0.09 | 0.23 | 1.27 | — |
| Debt / FCF | — | — | — | -0.02 | — | — | -1.11 | 0.13 | 0.68 | — | — |
| Interest Coverage | 1.54 | 1.54 | 8.09 | 5.74 | 22.01 | -28.02 | -187.77 | 3.26 | 17.58 | -4.43 | -18.50 |
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 | 1.57 | 1.57 | 1.65 | 2.15 | 2.24 | 2.44 | 3.96 | 2.74 | 2.40 | 2.41 | 2.69 |
| Quick Ratio | 1.42 | 1.42 | 1.49 | 1.96 | 2.06 | 2.16 | 3.58 | 2.49 | 2.15 | 2.17 | 2.67 |
| Cash Ratio | 0.08 | 0.08 | 0.09 | 0.27 | 0.03 | 0.53 | 1.90 | 0.52 | 0.10 | 0.01 | 0.86 |
| Asset Turnover | — | 0.88 | 1.06 | 1.30 | 1.13 | 0.80 | 0.69 | 0.96 | 1.12 | 0.51 | 0.75 |
| Inventory Turnover | 35.31 | 35.31 | 32.06 | 35.02 | 29.80 | 16.73 | 19.00 | 30.44 | 29.57 | 14.23 | 346.18 |
| 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 | 1.7% | 3.1% | 2.2% | 3.2% | 0.7% | — | — | — | — | — | — |
| Payout Ratio | 158.6% | 158.6% | 97.1% | 33.5% | 12.5% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.1% | 1.9% | 2.3% | 9.5% | 5.4% | — | — | 0.3% | 7.8% | — | — |
| FCF Yield | — | — | — | 19.1% | — | — | 24.2% | 10.9% | 14.3% | — | — |
| Buyback Yield | 0.3% | 0.7% | 0.6% | 7.9% | 2.3% | 0.2% | 3.1% | 2.2% | 3.5% | 0.0% | — |
| Total Shareholder Yield | 2.1% | 3.7% | 2.8% | 11.1% | 2.9% | 0.2% | 3.1% | 2.2% | 3.5% | 0.0% | — |
| Shares Outstanding | — | $104M | $102M | $103M | $97M | $88M | $85M | $93M | $74M | $72M | $58M |
Permian regulatory seismicity exposure
According to current market data, WTTR trades at a trailing P/E of 98.30, which appears disconnected from the valuation multiples of traditional regulated utilities, suggesting that investors are struggling to reconcile the company's cyclical oilfield service roots with its stated transition toward a stable infrastructure-based business model.
The elevated P/E ratio indicates that the market has not yet assigned a utility-like valuation to the company, likely due to the persistent volatility in earnings. Investors should monitor whether the forward P/E of 37.15 reflects a genuine expectation of margin expansion or merely a temporary adjustment to cyclical earnings troughs.
Based on reported figures, the company maintains a debt-to-capital ratio of 0.07 as of 2026Q1, which represents a notably conservative leverage profile that provides significant financial flexibility compared to more capital-intensive peers operating within the highly volatile Permian Basin water management and completion services sector.
This low leverage suggests that the firm is well-positioned to navigate cyclical downturns without the immediate pressure of debt service obligations. However, the reliance on equity to fund infrastructure expansion may continue to dilute per-share earnings growth until the asset base achieves sufficient scale to drive consistent cash flow.
As reported in quarterly financial statements, the dividend payout ratio has exhibited extreme volatility, ranging from 2.1% to over 100% in recent periods, which indicates that shareholder distributions are currently subject to the underlying fluctuations of the company's service-heavy revenue streams rather than stable, recurring utility cash flows.
The inconsistency in payout levels suggests that the dividend is not yet supported by a predictable, utility-like earnings base. Investors should interpret the current 1.6% yield with caution, as the ability to maintain or grow the dividend appears tethered to the cyclical completion activity of E&P operators.
The most commonly misapplied metric for WTTR is the standard P/E ratio, which obscures the company's true earnings power by failing to account for the high depreciation associated with its transition from mobile service equipment to permanent, long-lived water infrastructure assets that require different capital recovery profiles.
Comparing WTTR's P/E to that of a regulated utility is fundamentally flawed because the company lacks a guaranteed rate base and authorized ROE. Analysts should instead focus on EV/EBITDA and the growth of recurring volume-based fees, which better capture the underlying value of the infrastructure network than earnings-based multiples.
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying WTTR stock.
Select Water Solutions, Inc.'s current P/E ratio is 93.3x. The historical average is 27.7x. This places it at the 100th percentile of its historical range.
Select Water Solutions, Inc.'s current EV/EBITDA is 11.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.0x.
Select Water Solutions, Inc.'s return on equity (ROE) is 2.3%. The historical average is -4.3%.
Based on historical data, Select Water Solutions, Inc. is trading at a P/E of 93.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Select Water Solutions, Inc.'s current dividend yield is 1.74% with a payout ratio of 158.6%.
Select Water Solutions, Inc. has 14.0% gross margin and 2.5% operating margin.
Select Water Solutions, Inc.'s Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.