Latest Ratios: P/E Ratio 71.9x · EV/EBITDA 8.3x · ROE 1.4%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $4.7B | $6.3B | $2.3B | — | — |
| Enterprise Value | $8.5B | $10.1B | $6.8B | — | — |
| P/E Ratio → | 71.85 | 96.11 | — | — | — |
| P/S Ratio | 0.33 | 0.44 | 0.28 | — | — |
| P/B Ratio | 1.02 | 1.37 | 0.51 | — | — |
| P/FCF | 9.18 | 12.27 | 64.89 | — | — |
| P/OCF | 8.72 | 11.66 | 49.70 | — | — |
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 |
|---|---|---|---|---|---|
| EV / Revenue | — | 0.70 | 0.81 | — | — |
| EV / EBITDA | 8.28 | 9.85 | 12.59 | — | — |
| EV / EBIT | 16.83 | 21.50 | 21.66 | — | — |
| EV / FCF | — | 19.50 | 189.53 | — | — |
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 |
|---|---|---|---|---|---|
| Gross Margin | 7.2% | 7.2% | 9.5% | 9.9% | 10.0% |
| Operating Margin | 3.5% | 3.5% | 3.5% | 0.7% | 1.6% |
| Net Profit Margin | 0.5% | 0.5% | -1.0% | -4.0% | -1.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 1.4% | 1.4% | -3.3% | -16.9% | -2.5% |
| ROA | 0.6% | 0.6% | -0.9% | -5.9% | -2.0% |
| ROIC | 4.3% | 4.3% | 3.2% | 1.1% | 2.7% |
| ROCE | 5.3% | 5.3% | 3.9% | 1.3% | 3.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.90 | 0.90 | 1.09 | 10.43 | 0.08 |
| Debt / EBITDA | 4.08 | 4.08 | 9.11 | 11.34 | 0.67 |
| Net Debt / Equity | — | 0.81 | 0.99 | 9.70 | 0.02 |
| Net Debt / EBITDA | 3.65 | 3.65 | 8.28 | 10.54 | 0.17 |
| Debt / FCF | — | 7.23 | 124.64 | 73.22 | 0.64 |
| Interest Coverage | 1.33 | 1.33 | 0.72 | 0.14 | 0.58 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 1.32 | 1.32 | 1.57 | 1.40 | 1.91 |
| Quick Ratio | 1.32 | 1.32 | 1.57 | 1.40 | 1.91 |
| Cash Ratio | 0.19 | 0.19 | 0.23 | 0.22 | 0.29 |
| Asset Turnover | — | 1.26 | 0.70 | 1.23 | 1.82 |
| Inventory Turnover | — | — | — | — | — |
| Days Sales Outstanding | — | 62.87 | 104.48 | 66.83 | 53.35 |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 1.4% | 1.0% | — | — | — |
| FCF Yield | 10.9% | 8.1% | 1.5% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $244M | $91M | $90M | $90M |
Includes 30+ ratios · 4 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying AMTM stock.
Amentum Holdings, Inc.'s current P/E ratio is 71.9x. The historical average is 96.1x.
Amentum Holdings, Inc.'s current EV/EBITDA is 8.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.2x.
Amentum Holdings, Inc.'s return on equity (ROE) is 1.4%. The historical average is -5.3%.
Based on historical data, Amentum Holdings, Inc. is trading at a P/E of 71.9x. Compare with industry peers and growth rates for a complete picture.
Amentum Holdings, Inc. has 7.2% gross margin and 3.5% operating margin.
Amentum Holdings, Inc.'s Debt/EBITDA ratio is 4.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Revenue headwinds and integration risks
Metrics are mathematically derived from official filings.
Margin Volatility Masks Underlying Stability
Gross margin swung from 5.0% to 13.0% over ten quarters, but averaged near 7-8%, per reported financials, indicating a cost-plus-heavy model with limited pricing power and thin operating leverage.
The 2026Q3 gross margin of 13.0% and operating margin of 5.6% represent a sharp improvement from the 7.2% and 3.7% in 2026Q2, but such swings suggest contract mix and one-time adjustments rather than durable expansion. Net margin of 6.0% in 2026Q3 is a positive outlier versus the 0.46% average, implying that the latest quarter may include non-recurring benefits. Investors should monitor whether the margin improvement persists as the integration of Jacobs assets matures, given the structural pressure from high labor costs.
Return on Capital Remains Subdued
ROIC has hovered between 1.0% and 2.3% over the last ten quarters, per reported data, well below the cost of capital, suggesting the merger has yet to generate meaningful economic returns.
Despite a strong balance sheet, ROIC of 2.3% in 2026Q3 is far below the 9-18% levels seen at peers like Leidos and Booz Allen, indicating that the acquired assets are not yet generating excess returns. The low asset turnover of 0.31x, combined with thin margins, explains the weak ROIC, and the company appears to be in a value-destructive phase post-merger. Improvement will depend on margin expansion and revenue growth, but the current trajectory suggests a slow path to value creation.
Working Capital Efficiency Improves
DSO improved to 66 days in 2026Q3 from 70 days in 2026Q1, while DPO rose to 25 days, per financial statements, indicating better cash collection and supplier payment terms.
The cash conversion cycle remains positive but is not fully calculable due to missing DIO data, yet the trend in DSO and DPO suggests modest working capital management gains. Asset turnover of 0.31x is low, reflecting the asset-light nature of the business where revenue is driven by labor rather than physical assets. The improvement in DSO may be a result of better contract billing practices, but the overall efficiency remains below that of more asset-intensive peers.
Leverage Nearly Eliminated Post-Merger
Debt-to-equity plummeted from 1.09 in 2024Q4 to 0.01 in 2026Q3, per reported figures, with total debt of only $54M, signaling a fortress-like balance sheet.
The rapid deleveraging from $4.9B in debt to $54M is remarkable, but it may reflect a one-time equity infusion or asset sales rather than operational cash flow. Interest coverage of 0.55x in 2026Q3 is misleadingly low because of minimal debt; the company has ample capacity to service its obligations. However, the goodwill-heavy balance sheet ($5.7B, 51% of assets) poses a risk if revenue growth stalls, as impairment charges could erode equity.
Liquidity Position Strengthens
Current ratio improved to 1.52 in 2026Q3 from 1.32 in 2025Q4, per reported data, with cash of $459M, providing a modest buffer against operational shocks.
The quick ratio equals the current ratio at 1.52, indicating minimal inventory dependence, which is typical for a services business. While the liquidity position is adequate, the thin net margins and revenue headwinds suggest that a severe contract loss could strain cash flow. The company's ability to weather stress is supported by low debt, but the lack of capital returns and reliance on government contracts introduce uncertainty.
P/E Misleads on Earnings Power
The trailing P/E of 90.44 is distorted by merger-related charges, while the forward P/E of 10.09, per valuation data, better reflects normalized earnings, but investors should use EV/EBITDA.
The trailing P/E is not meaningful due to the significant non-cash amortization and integration costs from the Jacobs acquisition, which depress GAAP net income. The forward P/E of 10.09 suggests the market expects earnings to normalize, but the EV/EBITDA of 9.48 is a more reliable metric for a company with heavy intangibles. Analysts should focus on EV/EBITDA and cash flow multiples, as the P/E may mislead on the company's true earning power.