Latest Ratios: P/E Ratio -20.1x · EV/EBITDA 23.1x · ROE 6.2%. (2014–2025 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 | $453M | $473M | $776M | $839M | $1.1B | $1.4B | $563M | $577M | $754M | $1.3B | $675M |
| Enterprise Value | $816M | $836M | $1.1B | $1.1B | $1.3B | $1.6B | $942M | $1.0B | $944M | $1.5B | $926M |
| P/E Ratio → | -20.11 | 9.61 | 17.59 | 15.36 | 6.42 | 9.82 | 12.19 | 13.96 | 11.37 | 8.91 | 19.77 |
| P/S Ratio | 0.28 | 0.31 | 0.51 | 0.55 | 0.57 | 0.81 | 0.49 | 0.44 | 0.50 | 0.89 | 0.57 |
| P/B Ratio | 0.56 | 0.58 | 1.00 | 1.14 | 1.50 | 2.28 | 1.27 | 1.44 | 1.79 | 3.48 | 3.14 |
| P/FCF | 117.20 | 73.66 | 459.19 | 82.48 | 5.99 | 8.47 | 19.46 | — | 11.75 | 27.15 | 22.72 |
| P/OCF | 3.69 | 3.85 | 5.73 | 7.14 | 4.03 | 6.27 | 5.03 | 4.79 | 4.35 | 9.72 | 5.94 |
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 | — | 0.55 | 0.73 | 0.70 | 0.67 | 0.97 | 0.81 | 0.77 | 0.62 | 1.03 | 0.78 |
| EV / EBITDA | 23.09 | 5.68 | 8.19 | 7.54 | 4.40 | 6.35 | 7.62 | 8.58 | 6.45 | 7.52 | 9.83 |
| EV / EBIT | 12.09 | 13.28 | 19.44 | 14.02 | 5.70 | 8.57 | 15.00 | 17.06 | 10.12 | 9.83 | 17.09 |
| EV / FCF | — | 130.21 | 653.95 | 105.71 | 7.07 | 10.05 | 32.57 | — | 14.71 | 31.51 | 31.15 |
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 | 11.4% | 11.4% | 10.1% | 10.8% | 16.2% | 16.3% | 11.6% | 10.4% | 11.5% | 15.3% | 9.0% |
| Operating Margin | 4.4% | 4.4% | 3.9% | 4.5% | 11.7% | 11.3% | — | 4.6% | 6.2% | 10.4% | 4.5% |
| Net Profit Margin | 3.2% | 3.2% | 2.9% | 3.6% | 8.8% | 8.3% | 4.0% | 3.2% | 4.4% | 9.9% | 2.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.2% | 6.2% | 5.8% | 7.4% | 25.7% | 26.7% | 10.9% | 10.1% | 16.6% | 49.6% | 9.8% |
| ROA | 3.0% | 3.0% | 2.9% | 3.7% | 12.2% | 10.9% | 3.7% | 3.6% | 6.4% | 15.0% | 3.9% |
| ROIC | 4.4% | 4.4% | 4.2% | 5.5% | 18.9% | 17.1% | — | 6.3% | 11.7% | 21.9% | 8.6% |
| ROCE | 5.3% | 5.3% | 5.0% | 6.2% | 21.6% | 19.3% | — | 7.1% | 12.4% | 22.2% | 8.8% |
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 | 0.47 | 0.47 | 0.45 | 0.36 | 0.31 | 0.45 | 0.88 | 1.08 | 0.48 | 0.70 | 1.23 |
| Debt / EBITDA | 2.60 | 2.60 | 2.58 | 1.87 | 0.78 | 1.06 | 3.15 | 3.71 | 1.37 | 1.31 | 2.81 |
| Net Debt / Equity | — | 0.45 | 0.43 | 0.32 | 0.27 | 0.43 | 0.85 | 1.06 | 0.45 | 0.56 | 1.16 |
| Net Debt / EBITDA | 2.46 | 2.46 | 2.44 | 1.66 | 0.67 | 1.00 | 3.07 | 3.65 | 1.30 | 1.04 | 2.66 |
| Debt / FCF | — | 56.55 | 194.75 | 23.22 | 1.08 | 1.58 | 13.11 | — | 2.96 | 4.36 | 8.43 |
| Interest Coverage | 7.42 | 7.42 | 5.03 | 10.25 | 82.19 | 37.85 | 8.06 | — | 12.45 | — | — |
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 | 1.13 | 1.13 | 1.08 | 1.17 | 1.12 | 1.13 | 1.16 | 1.00 | 1.09 | 1.31 | 1.03 |
| Quick Ratio | 0.52 | 0.52 | 0.49 | 0.58 | 0.57 | 0.65 | 0.53 | 0.41 | 0.61 | 0.87 | 0.56 |
| Cash Ratio | 0.05 | 0.05 | 0.05 | 0.08 | 0.08 | 0.05 | 0.04 | 0.02 | 0.03 | 0.19 | 0.05 |
| Asset Turnover | — | 0.89 | 0.95 | 1.03 | 1.30 | 1.28 | 0.92 | 1.05 | 1.46 | 1.40 | 1.32 |
| Inventory Turnover | 5.70 | 5.70 | 6.43 | 6.46 | 7.57 | 9.43 | 5.69 | 6.77 | 9.77 | 9.67 | 8.40 |
| Days Sales Outstanding | — | 42.13 | 35.16 | 39.71 | 34.74 | 38.80 | 42.82 | 30.01 | 38.61 | 48.50 | 40.33 |
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 | 3.7% | 3.6% | 2.2% | 2.0% | 1.4% | 0.3% | — | — | — | — | 39.9% |
| Payout Ratio | 34.8% | 34.8% | 38.8% | 30.5% | 8.8% | 2.5% | — | — | — | — | 788.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | 10.4% | 5.7% | 6.5% | 15.6% | 10.2% | 8.2% | 7.2% | 8.8% | 11.2% | 5.1% |
| FCF Yield | 0.9% | 1.4% | 0.2% | 1.2% | 16.7% | 11.8% | 5.1% | — | 8.5% | 3.7% | 4.4% |
| Buyback Yield | 0.4% | 0.4% | 1.3% | 5.5% | 3.1% | 0.0% | 0.2% | 10.8% | 5.1% | 0.0% | 1.1% |
| Total Shareholder Yield | 4.1% | 4.0% | 3.5% | 7.5% | 4.4% | 0.3% | 0.2% | 10.8% | 5.1% | 0.0% | 41.0% |
| Shares Outstanding | — | $27M | $27M | $28M | $29M | $29M | $28M | $29M | $31M | $31M | $31M |
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying ASIX stock.
AdvanSix Inc.'s current P/E ratio is -20.1x. The historical average is 12.5x.
AdvanSix Inc.'s current EV/EBITDA is 23.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.2x.
AdvanSix Inc.'s return on equity (ROE) is 6.2%. The historical average is 16.9%.
Based on historical data, AdvanSix Inc. is trading at a P/E of -20.1x. Compare with industry peers and growth rates for a complete picture.
AdvanSix Inc.'s current dividend yield is 3.74% with a payout ratio of 34.8%.
AdvanSix Inc. has 11.4% gross margin and 4.4% operating margin.
AdvanSix Inc.'s Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Volatile specialty chemical margins
Metrics are mathematically derived from official filings.
Trough Earnings Distort Multiples
Based on the supplied multiples, ASIX trades at a trailing P/E of 9.34 and EV/EBITDA of 5.54, yet the forward P/E of 90.92 implies consensus expects earnings to collapse sharply from current levels.
The gap between trailing and forward P/E suggests the trailing multiple reflects a recovering base of earnings rather than a stable run-rate, so the low trailing figure may be less reassuring than it appears. The P/B of 0.56 indicates the market values the equity well below book, which may reflect skepticism about the durability of asset returns given ROE near zero. Investors should monitor whether forward estimates are revised, since a PEG of 4.97 is not supportive of growth-based pricing.
Margin Compression Erodes Earning Power
According to reported quarterly results, gross margin fell from 17.9% in Q2 2024 to 2.6% in Q3 2026, while operating margin moved from 12.6% to -1.9%, a substantial compression over ten quarters.
This decline appears driven by pricing or input-cost absorption rather than volume, given revenue held broadly stable across the period. Operating margin has turned negative, which suggests the business is no longer covering fixed manufacturing and SG&A costs at current spreads. Net margin reached 8.6% at the peak but sits at -1.8% now, so the normalized earning power is difficult to establish from this window alone.
Returns Decaying From Cyclical Peak
ROIC has fallen from 4.1% in Q2 2024 to -0.5% in Q3 2026, and ROE has moved from 5.3% to -1.0%, indicating returns are no longer compounding on the invested capital base.
The trajectory suggests returns are tracking margin movements more than asset efficiency, since asset turnover stayed roughly flat near 0.21 to 0.31 over the period. A capital base of roughly $1.5B to $1.7B combined with negative ROIC implies the business is currently destroying value on a reported basis. Whether this proves temporary depends on margin recovery, which the data does not yet confirm.
Debt Reduction Masks Coverage Weakness
Based on reported figures, debt-to-equity declined from 0.54 to 0.37 and debt-to-EBITDA reached very high levels in some quarters, while interest coverage turned negative in Q3 2026 at -1.76.
The apparent deleveraging may be partly flattered by a $34.4M working capital inflow in the latest quarter, which may not repeat. Negative interest coverage in recent periods suggests operating earnings are not currently covering interest expense, which warrants further investigation into the refinancing profile. Debt service comfort has deteriorated despite lower absolute debt.
Thin Liquidity Cushion Under Pressure
As reported in financial statements, the current ratio drifted between 1.08 and 1.39 while the quick ratio fell to 0.52 in Q4 2025 and cash ranged from $7.2M to $23.7M, leaving limited headroom.
Heavy reliance on inventory and receivables to meet current obligations is suggested by the gap between current and quick ratios, which narrowed during periods of working capital absorption. Under a severe margin downturn, operating cash generation could tighten quickly given the swings in free cash flow between -$51.3M and $29.7M. Investors should monitor how the liquidity buffer holds if working capital reverses.
Cash Rebound May Prove Transitory
Based on the latest reported quarters, the $29.7M free cash flow in Q3 2026 rests heavily on a $34.4M working capital inflow, which may not repeat given a 2.6% gross margin and operating loss in the same period.
The most commonly misapplied metric for this business is trailing P/E, since commodity-linked chemical earnings are cyclical and a low multiple on trough or recovering earnings can signal value traps rather than cheapness. Normalized through-cycle EBITDA or price-to-tangible-book, anchored to the $785M to $823M equity base, would be more informative. Investors should treat the recent cash recovery as potentially non-repeatable until margin stability is demonstrated.