Latest Ratios: P/E Ratio 100.0x · EV/EBITDA 14.3x · ROE 4.6%. (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 | $1.7B | $2.2B | $3.0B | $1.8B | $3.2B | $1.1B | $730M | $915M | $945M | $726M |
| Enterprise Value | $3.2B | $2.1B | $2.5B | $3.1B | $2.1B | $3.5B | $1.2B | $924M | $1.0B | $1.1B | $855M |
| P/E Ratio → | 100.02 | 28.32 | 12.78 | 15.16 | 5.99 | 15.02 | 15.86 | 18.28 | 13.60 | 15.89 | 38.94 |
| P/S Ratio | 0.65 | 0.42 | 0.53 | 0.67 | 0.36 | 0.85 | 0.38 | 0.24 | 0.30 | 0.33 | 0.27 |
| P/B Ratio | 2.26 | 1.31 | 1.69 | 2.38 | 1.55 | 3.45 | 1.36 | 0.96 | 1.27 | 1.45 | 1.21 |
| P/FCF | 11.26 | 16.88 | 48.49 | 32.84 | 5.85 | 13.09 | 7.59 | 10.75 | 4.54 | 12.38 | 23.04 |
| P/OCF | 12.44 | 7.43 | 7.78 | 9.19 | 3.79 | 9.92 | 5.47 | 4.29 | 3.58 | 6.22 | 6.58 |
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 | — | 0.51 | 0.60 | 0.71 | 0.41 | 0.92 | 0.42 | 0.31 | 0.33 | 0.39 | 0.32 |
| EV / EBITDA | 14.26 | 7.92 | 6.38 | 9.85 | 3.87 | 8.65 | 5.66 | 5.24 | 4.67 | 6.65 | 6.24 |
| EV / EBIT | 35.55 | 21.62 | 11.02 | 16.00 | 5.22 | 12.30 | 11.78 | 14.68 | 10.83 | 18.87 | 25.58 |
| EV / FCF | — | 20.48 | 54.73 | 34.79 | 6.77 | 14.16 | 8.26 | 13.60 | 5.05 | 14.32 | 27.14 |
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 | 2.3% | 2.3% | 8.4% | 8.5% | 11.4% | 10.8% | 7.8% | 7.2% | 8.8% | 6.7% | 6.0% |
| Operating Margin | 2.3% | 2.3% | 5.8% | 3.9% | 7.8% | 7.4% | 3.3% | 2.1% | 3.5% | 2.2% | 1.3% |
| Net Profit Margin | 1.5% | 1.5% | 4.2% | 4.4% | 5.9% | 5.7% | 2.4% | 1.3% | 2.2% | 2.1% | 0.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.6% | 4.6% | 13.6% | 16.3% | 28.7% | 24.3% | 8.9% | 5.4% | 9.8% | 9.6% | 3.1% |
| ROA | 2.5% | 2.5% | 7.1% | 7.8% | 12.9% | 11.0% | 4.1% | 2.5% | 4.6% | 4.5% | 1.5% |
| ROIC | 4.2% | 4.2% | 12.1% | 9.1% | 22.6% | 19.6% | 7.8% | 5.4% | 10.1% | 6.0% | 3.7% |
| ROCE | 5.1% | 5.1% | 13.8% | 9.8% | 25.2% | 20.7% | 7.9% | 5.6% | 10.6% | 6.6% | 3.8% |
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 | 0.36 | 0.36 | 0.31 | 0.35 | 0.38 | 0.36 | 0.49 | 0.52 | 0.41 | 0.41 | 0.41 |
| Debt / EBITDA | 1.78 | 1.78 | 1.05 | 1.38 | 0.82 | 0.84 | 1.86 | 2.25 | 1.34 | 1.64 | 1.78 |
| Net Debt / Equity | — | 0.28 | 0.22 | 0.14 | 0.24 | 0.28 | 0.12 | 0.25 | 0.14 | 0.23 | 0.22 |
| Net Debt / EBITDA | 1.39 | 1.39 | 0.73 | 0.55 | 0.52 | 0.65 | 0.46 | 1.10 | 0.47 | 0.90 | 0.94 |
| Debt / FCF | — | 3.60 | 6.24 | 1.95 | 0.92 | 1.06 | 0.67 | 2.86 | 0.50 | 1.94 | 4.11 |
| Interest Coverage | 7.72 | 7.72 | 25.36 | 21.55 | 51.26 | 31.64 | 8.91 | 5.49 | 9.91 | 9.13 | 6.49 |
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 | 0.95 | 0.95 | 1.01 | 1.26 | 1.29 | 1.10 | 1.50 | 1.50 | 1.44 | 1.30 | 1.24 |
| Quick Ratio | 0.95 | 0.95 | 1.01 | 1.26 | 1.29 | 1.10 | 1.50 | 1.50 | 1.44 | 1.30 | 1.24 |
| Cash Ratio | 0.19 | 0.19 | 0.24 | 0.47 | 0.42 | 0.18 | 0.73 | 0.72 | 0.66 | 0.44 | 0.43 |
| Asset Turnover | — | 1.64 | 1.72 | 1.78 | 2.02 | 1.78 | 1.65 | 1.81 | 2.01 | 2.07 | 2.11 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 36.16 | 40.14 | 41.76 | 39.76 | 58.64 | 43.03 | 37.96 | 37.51 | 40.14 | 39.55 |
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 | 0.4% | 0.6% | 0.5% | 0.4% | 0.6% | 0.3% | 0.7% | 1.1% | 0.9% | 0.9% | 1.1% |
| Payout Ratio | 18.3% | 18.3% | 6.5% | 5.9% | 3.6% | 3.8% | 11.5% | 20.5% | 12.3% | 13.8% | 44.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.0% | 3.5% | 7.8% | 6.6% | 16.7% | 6.7% | 6.3% | 5.5% | 7.4% | 6.3% | 2.6% |
| FCF Yield | 8.9% | 5.9% | 2.1% | 3.0% | 17.1% | 7.6% | 13.2% | 9.3% | 22.0% | 8.1% | 4.3% |
| Buyback Yield | 2.7% | 4.4% | 3.4% | 3.1% | 3.6% | 2.6% | 0.6% | 1.2% | 1.0% | 0.6% | 1.3% |
| Total Shareholder Yield | 3.0% | 5.1% | 3.9% | 3.5% | 4.2% | 2.8% | 1.3% | 2.4% | 1.9% | 1.5% | 2.5% |
| Shares Outstanding | — | $23M | $24M | $25M | $26M | $27M | $26M | $26M | $27M | $26M | $26M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying ARCB stock.
ArcBest Corp's current P/E ratio is 100.0x. The historical average is 20.8x. This places it at the 100th percentile of its historical range.
ArcBest Corp's current EV/EBITDA is 14.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.8x.
ArcBest Corp's return on equity (ROE) is 4.6%. The historical average is 9.0%.
Based on historical data, ArcBest Corp is trading at a P/E of 100.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
ArcBest Corp's current dividend yield is 0.37% with a payout ratio of 18.3%.
ArcBest Corp has 2.3% gross margin and 2.3% operating margin.
ArcBest Corp's Debt/EBITDA ratio is 1.8x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Thin margins amplify freight cycle exposure
Metrics are mathematically derived from official filings.
Trailing Multiples Overstate Earnings Power
Based on reported figures, ARCB trades at 48.8x trailing earnings but 18.2x forward earnings, a gap that suggests the market is looking through a depressed trailing base toward a recovery that has not yet appeared in revenue.
The P/E compression from 48.8x trailing to 18.2x forward implies consensus expects earnings to roughly more than double, a steep inflection given revenue is still contracting about 4.0% year over year. Relative to peers, ARCB's trailing multiple sits well above TFII at 18.3x and far above ODFL at 34.1x on a much lower margin base, while EV/EBITDA of 12.3x trailing and 8.5x forward is more reasonable. Investors should treat the forward multiple as conditional on sustained margin gains rather than volume recovery.
Thin Margins Trail Non-Union Peers Sharply
According to recent SEC filings, ARCB's operating margin of roughly 2.3% and net margin of 1.5% compare with Old Dominion's 24.8% operating margin, indicating a structural gap in cost absorption rather than a cyclical blip.
The gap appears driven by the high fixed cost of unionized labor and terminal networks, which limits operating leverage on tonnage. Q3 2026 margin recovery to 6.1% operating and 4.3% net suggests cost discipline can lift earnings, but a single quarter does not establish a durable trajectory. Investors should monitor whether margins hold above 5% across consecutive quarters before attributing the improvement to structural change.
Returns Oscillate Without Compounding
Based on reported figures, ARCB's ROIC has swung between roughly -0.9% and 6.7% over ten quarters, with a trailing level of 3.5% that falls well below Old Dominion's 23.6% and modestly under XPO's 9.3%.
The pattern of peaks in Q3 2024 and Q3 2026 followed by troughs suggests returns are tied to the freight cycle and margin timing rather than a rising capital efficiency trend. A 3.5% ROIC sits below typical cost-of-capital assumptions for an asset-heavy carrier, implying the terminal and fleet base is not yet earning an adequate spread. Investors should view the return profile as cyclical and unlikely to compound without a sustained lift in operating margins.
Low Debt Burden Masks Coverage Volatility
As reported in financial statements, ARCB's debt-to-equity ratio of roughly 0.33 and debt-to-EBITDA near 3.7x in Q3 2026 indicate manageable leverage, though interest coverage has swung from negative to above 20x across recent quarters.
Leverage metrics look conservative in isolation, yet interest coverage has been unstable because operating income turned negative in Q2 2026 while debt remained near $431M. The low D/E ratio relative to peers such as XPO at 2.53 and TFII at 1.38 provides balance sheet flexibility, but earnings-based coverage depends heavily on margin recovery. Investors should monitor coverage on a trailing basis rather than relying on the strong Q3 figure, which may not represent the normalized level.
Quarterly Beat May Not Reverse Contraction
Based on reported figures, the Q3 2026 EPS beat of $2.30 against $1.82 consensus rests on a single quarter with a 4.3% net margin, while trailing revenue still contracted 4.0%, so the upside may not survive a freight cycle reversal.
The most commonly misapplied metric here is trailing P/E, since it penalizes a cyclical carrier at a trough and makes the stock look expensive exactly when earnings are depressed. Using forward P/E or EV/EBITDA on normalized margins, rather than the Q3 peak, would give a more defensible view of value. A thesis built on the Q3 beat without evidence of sustained volume growth or margin durability would be exposed to a sharp reversal.