Latest Ratios: P/E Ratio 24.6x · EV/EBITDA 12.1x · ROE 5.9%. (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 | $951M | $1.0B | $768M | $847M | $927M | $1.6B | $1.3B | $952M | $691M | $1.4B | $1.6B |
| Enterprise Value | $1.2B | $1.3B | $798M | $867M | $952M | $1.5B | $1.2B | $905M | $725M | $1.3B | $1.5B |
| P/E Ratio → | 24.63 | 25.79 | 176.84 | 25.31 | — | 100.39 | 28.23 | 42.86 | — | 35.89 | 28.34 |
| P/S Ratio | 0.67 | 0.71 | 0.59 | 0.63 | 0.73 | 1.45 | 1.29 | 0.81 | 0.59 | 1.14 | 1.36 |
| P/B Ratio | 1.41 | 1.47 | 1.20 | 1.30 | 1.48 | 2.44 | 2.06 | 1.58 | 1.18 | 1.97 | 2.40 |
| P/FCF | 44.25 | 46.75 | 307.14 | — | — | — | 10.50 | 10.69 | — | 62.11 | 14.53 |
| P/OCF | 15.50 | 16.37 | 33.39 | 30.48 | — | 214.82 | 9.36 | 8.47 | — | 32.38 | 11.58 |
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 | — | 0.91 | 0.61 | 0.65 | 0.75 | 1.33 | 1.14 | 0.77 | 0.62 | 1.10 | 1.30 |
| EV / EBITDA | 12.06 | 12.58 | 15.96 | 11.69 | 26.88 | 29.11 | 17.32 | 16.52 | — | 16.04 | 13.36 |
| EV / EBIT | 18.74 | 17.89 | 32.43 | 9.70 | 22.66 | 46.90 | 23.78 | 34.10 | — | 22.36 | 16.84 |
| EV / FCF | — | 59.58 | 319.14 | — | — | — | 9.26 | 10.16 | — | 59.45 | 13.87 |
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 | 26.5% | 26.5% | 25.1% | 24.7% | 20.7% | 22.8% | 23.2% | 20.5% | 11.4% | 20.5% | 23.1% |
| Operating Margin | 4.6% | 4.6% | 1.8% | 3.6% | 0.6% | 1.8% | 4.0% | 2.5% | -6.4% | 4.7% | 7.6% |
| Net Profit Margin | 2.8% | 2.8% | 0.3% | 2.5% | -0.0% | 1.4% | 4.5% | 1.9% | -5.2% | 3.2% | 4.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.9% | 5.9% | 0.7% | 5.2% | -0.0% | 2.4% | 7.4% | 3.8% | -9.5% | 5.7% | 8.7% |
| ROA | 3.2% | 3.2% | 0.4% | 3.2% | -0.0% | 1.8% | 5.6% | 2.7% | -6.9% | 4.4% | 6.8% |
| ROIC | 6.0% | 6.0% | 2.6% | 5.5% | 1.0% | 3.0% | 5.8% | 3.7% | -9.0% | 6.9% | 11.1% |
| ROCE | 7.2% | 7.2% | 3.0% | 6.5% | 1.1% | 2.9% | 6.2% | 4.5% | -10.9% | 8.0% | 13.3% |
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 | 0.51 | 0.51 | 0.19 | 0.13 | 0.14 | 0.00 | 0.00 | 0.00 | 0.10 | 0.01 | 0.02 |
| Debt / EBITDA | 3.42 | 3.42 | 2.37 | 1.12 | 2.48 | 0.06 | 0.03 | 0.04 | — | 0.05 | 0.10 |
| Net Debt / Equity | — | 0.40 | 0.05 | 0.03 | 0.04 | -0.20 | -0.24 | -0.08 | 0.06 | -0.08 | -0.11 |
| Net Debt / EBITDA | 2.71 | 2.71 | 0.60 | 0.27 | 0.70 | -2.62 | -2.32 | -0.86 | — | -0.72 | -0.64 |
| Debt / FCF | — | 12.83 | 12.00 | — | — | — | -1.24 | -0.53 | — | -2.67 | -0.66 |
| Interest Coverage | 3.87 | 3.87 | 2.30 | 10.04 | 16.80 | 28.27 | 70.14 | 18.97 | -81.28 | 69.12 | 63.43 |
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 | 2.49 | 2.49 | 2.66 | 2.41 | 2.54 | 2.85 | 3.32 | 2.93 | 2.96 | 3.37 | 3.42 |
| Quick Ratio | 1.07 | 1.07 | 1.10 | 0.88 | 1.11 | 1.51 | 1.86 | 1.23 | 1.08 | 1.18 | 1.28 |
| Cash Ratio | 0.22 | 0.22 | 0.34 | 0.23 | 0.24 | 0.64 | 0.96 | 0.29 | 0.15 | 0.36 | 0.49 |
| Asset Turnover | — | 1.03 | 1.25 | 1.26 | 1.26 | 1.21 | 1.21 | 1.46 | 1.37 | 1.33 | 1.36 |
| Inventory Turnover | 2.22 | 2.22 | 2.31 | 2.21 | 2.57 | 2.83 | 3.15 | 3.16 | 2.91 | 2.41 | 2.45 |
| Days Sales Outstanding | — | 56.60 | 49.36 | 45.63 | 54.27 | 48.38 | 42.97 | 38.98 | 41.74 | 36.96 | 35.21 |
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% | 1.2% | 1.5% | 1.4% | 1.2% | 0.6% | 0.8% | 1.0% | 1.4% | 0.7% | 0.6% |
| Payout Ratio | 30.7% | 30.7% | 276.7% | 35.2% | — | 64.6% | 21.7% | 44.5% | — | 24.4% | 16.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.1% | 3.9% | 0.6% | 4.0% | — | 1.0% | 3.5% | 2.3% | — | 2.8% | 3.5% |
| FCF Yield | 2.3% | 2.1% | 0.3% | — | — | — | 9.5% | 9.4% | — | 1.6% | 6.9% |
| Buyback Yield | 0.0% | 0.0% | 0.1% | 0.2% | 1.1% | 0.0% | 0.0% | 0.0% | 3.5% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.2% | 1.2% | 1.6% | 1.6% | 2.3% | 0.6% | 0.8% | 1.1% | 4.9% | 0.7% | 0.6% |
| Shares Outstanding | — | $23M | $23M | $23M | $23M | $23M | $23M | $23M | $23M | $23M | $23M |
Includes 30+ ratios · 30 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying ASTE stock.
Astec Industries, Inc.'s current P/E ratio is 24.6x. The historical average is 42.5x. This places it at the 54th percentile of its historical range.
Astec Industries, Inc.'s current EV/EBITDA is 12.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.7x.
Astec Industries, Inc.'s return on equity (ROE) is 5.9%. The historical average is 6.6%.
Based on historical data, Astec Industries, Inc. is trading at a P/E of 24.6x. This is at the 54th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Astec Industries, Inc.'s current dividend yield is 1.24% with a payout ratio of 30.7%.
Astec Industries, Inc. has 26.5% gross margin and 4.6% operating margin.
Astec Industries, Inc.'s Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Margin compression despite revenue growth
Metrics are mathematically derived from official filings.
Margin Squeeze Amidst Volume Growth
Astec's gross margin fell to 26.2% in 2026Q2 from 28.1% a year earlier, while operating margin contracted to 5.0%, according to quarterly filings, indicating cost pressures are eroding profitability.
The 190 basis point decline in gross margin over the past five quarters suggests input cost inflation or pricing pressure is not being fully offset. Operating margin at 5.0% remains well below the 9.7% peak in 2024Q4, implying that the OneASTEC transformation has yet to deliver sustainable operating leverage. Net margin of 2.6% in 2026Q2 is particularly thin, and with stock-based compensation representing nearly half of net income, reported earnings quality appears weak.
Return on Capital Stuck at Low Levels
ROIC has remained below 4% for the past ten quarters, with 2026Q2 at 1.5%, as reported in financial statements, indicating that recent capital investments and acquisitions are not yet generating adequate returns.
Despite a surge in debt-funded expansion, ROIC has not improved, suggesting that the incremental capital is not being deployed efficiently. The gap between ROIC and the cost of capital appears to be narrowing, but the absolute level remains low for an industrial manufacturer. Investors should monitor whether the goodwill from recent acquisitions, which jumped to $132.5M, begins to generate returns or risks impairment.
Working Capital Drag Intensifies
Astec's cash conversion cycle lengthened to 158 days in 2026Q2 from 177 days a year earlier, driven by high inventory days of 140, according to balance sheet data, indicating persistent working capital inefficiency.
Inventory days have remained elevated above 140 for the past year, suggesting either deliberate stockpiling for anticipated demand or slow-moving finished goods. DSO has improved to 50 days from 66 days in 2024Q3, but DPO remains low at 33 days, indicating limited supplier leverage. The extended CCC ties up cash and may explain the volatile free cash flow, which swung from -$52.8M in 2024Q1 to $33.7M in 2026Q1.
Debt-Fueled Expansion Raises Risk
Debt-to-equity surged from 0.14 in 2025Q2 to 0.57 in 2026Q2, with total debt reaching $393.4M, as per balance sheet data, while interest coverage fell to 2.63, signaling reduced financial flexibility.
The rapid increase in leverage, partly due to acquisitions, has compressed interest coverage from 19.09 in 2024Q4 to 2.63 in 2026Q2. Although the current ratio remains healthy at 2.52, the debt load is now a significant burden relative to earnings. If operating margins do not recover, debt service could become more challenging, especially if interest rates remain elevated.
Liquidity Buffer Thins as Debt Rises
Astec's current ratio dipped to 2.52 in 2026Q2 from 2.71 a year earlier, while cash fell to $76.8M, according to balance sheet data, indicating a tighter but still adequate liquidity position.
The quick ratio of 1.10 suggests that inventory is a significant component of current assets, which may be less liquid in a downturn. With debt levels rising and cash reserves modest, the company's ability to weather a prolonged demand slump appears reduced. However, the current ratio remains above 2.0, providing a cushion, though the trend warrants monitoring.
Misapplied P/E Overstates Earnings Power
Astec's trailing P/E of 25.56 appears expensive, but forward P/E of 12.46 suggests the market expects a sharp earnings recovery, according to valuation data, which may be overly optimistic given margin trends.
The wide gap between trailing and forward P/E implies that analysts expect a significant rebound in earnings, but the recent EPS miss and lowered guidance cast doubt on that assumption. A more appropriate metric for Astec may be EV/EBITDA, which at 12.41 is closer to peer levels, but even that fails to capture the cyclicality and working capital intensity of the business. Investors should focus on normalized free cash flow yield, which at 2.2% (based on P/FCF of 45.92) is far less attractive than the forward P/E suggests.