Latest Ratios: P/E Ratio 3.1x · EV/EBITDA 20.1x · ROE 5.7%. (2011–2025 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 | $2.5B | $2.6B | $3.2B | $3.4B | $3.8B | $3.7B | $11.9B | $9.6B | $9.3B | $7.6B | $2.9B |
| Enterprise Value | $2.2B | $494M | $1.6B | $-1354076993 | $1.1B | $-423173050 | $11.7B | $9.3B | $9.3B | $7.5B | $2.5B |
| P/E Ratio → | 3.15 | 0.49 | 1.95 | 0.46 | 0.53 | 0.43 | 3.65 | 2.99 | 3.25 | 3.82 | 2.39 |
| P/S Ratio | 2.68 | 0.42 | 0.45 | 0.48 | 0.55 | 0.51 | 1.38 | 1.14 | 1.29 | 1.23 | 0.49 |
| P/B Ratio | 0.70 | 0.11 | 0.13 | 0.14 | 0.15 | 0.15 | 4.15 | 4.56 | 8.74 | 10.97 | 6.43 |
| P/FCF | 21.83 | 3.41 | 2.56 | 1.45 | 1.56 | 1.12 | 3.90 | 3.56 | 3.11 | 3.23 | 1.91 |
| P/OCF | 18.93 | 2.95 | 2.30 | 1.41 | 1.49 | 1.05 | 3.59 | 3.31 | 3.00 | 3.09 | 1.80 |
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 | — | 0.08 | 0.22 | -0.19 | 0.16 | -0.06 | 1.35 | 1.10 | 1.29 | 1.21 | 0.42 |
| EV / EBITDA | 20.09 | 0.67 | 1.25 | -0.91 | 0.68 | -0.19 | 3.53 | 2.77 | 3.13 | 3.52 | 2.04 |
| EV / EBIT | 26.62 | 0.33 | 0.92 | -0.68 | 0.64 | -0.19 | 3.72 | 2.87 | 3.24 | 3.65 | 2.13 |
| EV / FCF | — | 0.64 | 1.26 | -0.57 | 0.46 | -0.13 | 3.83 | 3.46 | 3.10 | 3.17 | 1.62 |
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 | 72.4% | 72.4% | 78.9% | 80.3% | 82.2% | 85.5% | 88.9% | 88.6% | 88.7% | 78.1% | 59.9% |
| Operating Margin | 8.8% | 8.8% | 14.3% | 15.8% | 18.0% | 24.6% | 36.4% | 38.4% | 39.7% | 32.9% | 19.3% |
| Net Profit Margin | 22.4% | 22.4% | 25.5% | 28.3% | 28.0% | 35.4% | 37.8% | 38.0% | 39.7% | 32.2% | 20.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.7% | 5.7% | 7.1% | 8.1% | 8.0% | 19.2% | 131.7% | 202.3% | 325.6% | 347.5% | 321.4% |
| ROA | 4.8% | 4.8% | 5.9% | 6.7% | 6.7% | 16.0% | 102.7% | 34.6% | 20.5% | 18.5% | 14.5% |
| ROIC | 1.8% | 1.8% | 3.4% | 4.0% | 4.4% | 12.0% | 105.6% | 169.1% | 270.2% | 539.1% | 1053.8% |
| ROCE | 2.2% | 2.2% | 3.9% | 4.4% | 5.0% | 13.0% | 122.1% | 37.4% | 21.4% | 19.7% | 14.2% |
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 | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 | 0.01 | 0.01 | — | — | 0.07 |
| Debt / EBITDA | 0.06 | 0.06 | 0.08 | 0.13 | 0.07 | 0.06 | 0.01 | 0.01 | — | — | 0.03 |
| Net Debt / Equity | — | -0.09 | -0.06 | -0.19 | -0.11 | -0.17 | -0.08 | -0.13 | -0.03 | -0.20 | -0.97 |
| Net Debt / EBITDA | -2.91 | -2.91 | -1.28 | -3.22 | -1.61 | -1.86 | -0.07 | -0.08 | -0.01 | -0.07 | -0.36 |
| Debt / FCF | — | -2.77 | -1.29 | -2.02 | -1.10 | -1.24 | -0.08 | -0.10 | -0.01 | -0.06 | -0.29 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($2.2B) exceeds total debt ($42M)
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 | 6.00 | 6.00 | 5.56 | 5.03 | 6.02 | 5.85 | 4.39 | 4.05 | 3.16 | 2.64 | 2.92 |
| Quick Ratio | 6.00 | 6.00 | 5.56 | 5.03 | 6.02 | 5.85 | 4.39 | 4.05 | 7.50 | 5.62 | 2.88 |
| Cash Ratio | 5.44 | 5.44 | 5.15 | 4.64 | 5.44 | 5.20 | 3.50 | 3.17 | 2.42 | 2.10 | 2.25 |
| Asset Turnover | — | 0.22 | 0.23 | 0.23 | 0.23 | 0.25 | 2.39 | 3.06 | 0.46 | 0.51 | 0.63 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | 173.78 |
| Days Sales Outstanding | — | 93.10 | 76.12 | 77.75 | 105.97 | 114.24 | 22.07 | 20.70 | 145.29 | 112.78 | 76.22 |
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 | 8.8% | 56.4% | 46.9% | 14.2% | 11.0% | 18.3% | 5.5% | — | 6.4% | — | — |
| Payout Ratio | 105.5% | 105.5% | 82.6% | 24.1% | 21.7% | 26.3% | 19.9% | — | 20.8% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 31.8% | 204.9% | 51.3% | 218.4% | 189.3% | 232.8% | 27.4% | 33.4% | 30.8% | 26.2% | 41.9% |
| FCF Yield | 4.6% | 29.4% | 39.1% | 68.8% | 64.0% | 89.6% | 25.6% | 28.1% | 32.1% | 31.0% | 52.4% |
| Buyback Yield | 6.2% | 40.0% | 7.1% | 18.4% | 18.8% | 0.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 15.0% | 96.4% | 54.0% | 32.6% | 29.8% | 19.1% | 5.5% | 0.0% | 6.4% | 0.0% | 0.0% |
| Shares Outstanding | — | $118M | $122M | $123M | $125M | $125M | $120M | $120M | $119M | $118M | $116M |
Includes 30+ ratios · 15 years · Updated daily
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Quick answers to the most common questions about buying ATHM stock.
Autohome Inc.'s current P/E ratio is 3.1x. The historical average is 2.9x. This places it at the 54th percentile of its historical range.
Autohome Inc.'s current EV/EBITDA is 20.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 2.8x.
Autohome Inc.'s return on equity (ROE) is 5.7%. The historical average is 141.3%.
Based on historical data, Autohome Inc. is trading at a P/E of 3.1x. This is at the 54th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Autohome Inc.'s current dividend yield is 8.75% with a payout ratio of 105.5%.
Autohome Inc. has 72.4% gross margin and 8.8% operating margin.
Autohome Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Core business revenue collapse
Valuation Disconnect from Operational Reality
Autohome's P/E of 3.36 appears artificially low due to non-operating income, while its forward P/E of 20.68 and EV/EBITDA of 21.69 suggest the market is pricing in a significant earnings reset, as reported in recent financial statements.
The stark divergence between the trailing P/E and forward multiples indicates the market is discounting the sustainability of current earnings, which are heavily supported by interest income from its $2.25 billion cash pile rather than core operations. The P/B of 0.75, trading below book value, signals deep skepticism about the future return on equity, which has collapsed to 1.0% in the latest quarter. This valuation profile is more consistent with a declining legacy asset than a growth platform, despite the company's dominant market position.
Gross Margin Resilience vs. Operating Margin Collapse
A 77.1% gross margin in 2026Q2 underscores the low marginal cost of Autohome's digital platform, yet the 4.4% operating margin reveals severe negative operating leverage as revenue contracts, according to the company's reported financials.
The persistent high gross margin confirms the structural advantage of a digital content model, but the dramatic compression in operating margin from 22.0% in 2024Q2 to 4.4% demonstrates that fixed costs, particularly traffic acquisition and sales/marketing, are not scaling down with the top line. The net margin of 20.7% is misleadingly strong, as it is almost entirely propped up by non-operating income, masking the true weakness in the core business's earning power. This suggests the company's profitability is currently a function of its balance sheet, not its operational efficiency.
Capital Returns in Freefall
Return on Invested Capital (ROIC) has deteriorated from 1.4% in 2024Q2 to just 0.2% in 2026Q2, indicating the company is destroying value on the capital it employs, based on the provided ratio data.
The collapse in ROIC, alongside a similarly declining ROE, confirms that the business is no longer generating adequate returns on its asset base. This trend is driven by both falling profitability (operating margin) and declining asset turnover, which has halved from 0.06 to 0.04 over the period. The company's fortress balance sheet, with zero debt, means this return decay is occurring on an all-equity base, making the erosion of shareholder value even more pronounced. The capital allocation appears overly conservative, as the massive cash pile generates minimal returns relative to the operational decline.
Deteriorating Receivables Management
Days Sales Outstanding (DSO) has ballooned to 120 days in 2026Q2 from a low of 68 days in 2024Q2, suggesting significant pressure on the company's ability to collect from its dealer and OEM clients, as per the reported figures.
The sharp increase in DSO is a critical red flag, indicating that Autohome may be extending more favorable payment terms to retain struggling dealers or that collections are slowing materially. This trend directly ties to the health of its primary customer base, which is under pressure from China's automotive price wars. The lack of inventory and payables data prevents a full cash conversion cycle analysis, but the receivables trend alone points to a potential working capital squeeze and raises questions about the quality of the revenue being recognized.
The Misleading Power of the P/E Ratio
The trailing P/E of 3.36 is the most commonly misapplied ratio for Autohome, as it obscures the core business's near-zero profitability by including substantial non-operating interest income, according to an analysis of the financial statements.
Investors focusing on the low P/E may mistakenly view the stock as deeply undervalued, but this metric is distorted by the company's $2.25 billion cash balance generating significant interest income, which inflates net income. The more relevant metric is the forward P/E of 20.68 or the EV/EBITDA, which better reflect the market's expectation for a reset in core earnings. For a company in structural transition, the P/E is a poor gauge of value; analysts should instead focus on operating metrics like lead generation volume and mobile DAU trends to assess the health of the underlying business model.