Latest Ratios: P/E Ratio 21.7x · EV/EBITDA 9.7x · ROE 5.5%. (2004–2025 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 | $21.7B | $20.6B | $12.9B | $19.6B | $15.8B | $9.7B | $10.9B | $14.7B | $8.6B | $7.7B | $9.4B |
| Enterprise Value | $33.5B | $81.4B | $64.5B | $68.4B | $66.2B | $55.7B | $59.7B | $64.0B | $64.3B | $54.1B | $56.4B |
| P/E Ratio → | 21.67 | 4.04 | 1.27 | 4.01 | 5.96 | 1.72 | 1.71 | 1.86 | 0.65 | — | 2.80 |
| P/S Ratio | 2.72 | 0.50 | 0.32 | 0.53 | 0.46 | 0.28 | 0.43 | 0.51 | 0.33 | 0.26 | 0.19 |
| P/B Ratio | 0.93 | 0.17 | 0.11 | 0.17 | 0.14 | 0.13 | 0.15 | 0.21 | 0.15 | 0.18 | 0.21 |
| P/FCF | 12.54 | 2.30 | 3.45 | 4.76 | — | 1.68 | 2.67 | — | 2.77 | — | — |
| P/OCF | 7.72 | 1.42 | 1.04 | 2.38 | 3.04 | 1.39 | 2.12 | 18.89 | 1.97 | 11.10 | 25.37 |
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 | — | 1.97 | 1.61 | 1.84 | 1.94 | 1.61 | 2.35 | 2.20 | 2.45 | 1.84 | 1.12 |
| EV / EBITDA | 9.68 | 4.56 | 3.90 | 4.72 | 7.36 | 4.96 | 8.00 | 6.15 | 3.56 | 10.71 | 3.07 |
| EV / EBIT | 13.01 | — | 3.86 | 8.35 | 8.22 | 4.01 | 6.29 | 5.92 | 3.18 | 8.44 | 2.51 |
| EV / FCF | — | 9.11 | 17.32 | 16.62 | — | 9.63 | 14.67 | — | 20.77 | — | — |
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 | 87.8% | 87.8% | 85.2% | 85.1% | 85.8% | 88.0% | 87.0% | 76.7% | 78.9% | 67.9% | 82.3% |
| Operating Margin | 32.2% | 32.2% | 31.3% | 29.2% | 18.5% | 28.3% | 24.4% | 29.6% | 62.4% | 12.0% | 33.4% |
| Net Profit Margin | 15.9% | 15.9% | 25.8% | 12.2% | 10.7% | 16.3% | 25.1% | 38.5% | 55.2% | -6.0% | 6.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.5% | 5.5% | 8.9% | 4.1% | 3.9% | 7.5% | 8.8% | 17.7% | 29.4% | -4.1% | 8.0% |
| ROA | 2.3% | 2.3% | 3.7% | 1.7% | 1.6% | 3.1% | 3.6% | 6.2% | 8.2% | -1.0% | 2.1% |
| ROIC | 5.6% | 5.6% | 5.6% | 5.1% | 3.3% | 6.0% | 3.8% | 5.6% | 12.2% | 2.9% | 14.0% |
| ROCE | 5.2% | 5.2% | 5.0% | 4.5% | 3.1% | 6.2% | 4.1% | 5.8% | 11.6% | 2.5% | 12.9% |
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 | 0.65 | 0.65 | 0.64 | 0.55 | 0.55 | 0.60 | 0.67 | 0.70 | 1.01 | 1.10 | 1.08 |
| Debt / EBITDA | 4.32 | 4.32 | 4.73 | 4.27 | 6.79 | 4.11 | 6.58 | 4.76 | 3.12 | 9.34 | 2.58 |
| Net Debt / Equity | — | 0.51 | 0.42 | 0.43 | 0.45 | 0.60 | 0.66 | 0.69 | 1.00 | 1.08 | 1.07 |
| Net Debt / EBITDA | 3.41 | 3.41 | 3.12 | 3.37 | 5.60 | 4.09 | 6.54 | 4.73 | 3.08 | 9.18 | 2.56 |
| Debt / FCF | — | 6.81 | 13.87 | 11.86 | — | 7.95 | 12.00 | — | 18.00 | — | — |
| Interest Coverage | -0.16 | -0.16 | 2.74 | 1.27 | 1.71 | 4.94 | 11.71 | 8.53 | 4.73 | 1.39 | 3.09 |
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 | 1.68 | 1.68 | 2.04 | 1.76 | 1.88 | 1.66 | 1.64 | 1.57 | 1.26 | 1.09 | 0.94 |
| Quick Ratio | 1.67 | 1.67 | 2.02 | 1.75 | 1.86 | 1.62 | 1.60 | 1.54 | 1.23 | 1.07 | 0.91 |
| Cash Ratio | 0.89 | 0.89 | 1.12 | 0.70 | 0.87 | 0.66 | 0.51 | 0.71 | 0.39 | 0.44 | 0.27 |
| Asset Turnover | — | 0.15 | 0.14 | 0.14 | 0.13 | 0.18 | 0.14 | 0.16 | 0.14 | 0.17 | 0.30 |
| Inventory Turnover | 11.92 | 11.92 | 13.47 | 12.95 | 11.26 | 3.73 | 3.53 | 6.71 | 6.21 | 10.02 | 8.97 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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 | 11.0% | 59.2% | 10.2% | 4.4% | 9.4% | 38.6% | — | 8.0% | 0.8% | 4.9% | 0.1% |
| Payout Ratio | 185.8% | 185.8% | 12.6% | 19.0% | 41.0% | 66.4% | — | 10.6% | 0.4% | — | 0.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.6% | 24.8% | 78.7% | 24.9% | 16.8% | 58.1% | 58.4% | 53.8% | 153.1% | — | 35.7% |
| FCF Yield | 8.0% | 43.4% | 29.0% | 21.0% | — | 59.5% | 37.5% | — | 36.0% | — | — |
| Buyback Yield | 0.0% | 0.2% | 0.9% | 10.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 11.1% | 59.3% | 11.1% | 14.5% | 9.4% | 38.6% | 0.0% | 8.0% | 0.8% | 4.9% | 0.1% |
| Shares Outstanding | — | $2.2B | $2.2B | $2.3B | $2.0B | $1.6B | $1.6B | $1.6B | $1.4B | $1.4B | $1.4B |
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying AXIA stock.
AXIA Energia S.A.'s current P/E ratio is 21.7x. The historical average is 6.3x. This places it at the 94th percentile of its historical range.
AXIA Energia S.A.'s current EV/EBITDA is 9.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.1x.
AXIA Energia S.A.'s return on equity (ROE) is 5.5%. The historical average is 2.7%.
Based on historical data, AXIA Energia S.A. is trading at a P/E of 21.7x. This is at the 94th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
AXIA Energia S.A.'s current dividend yield is 11.02% with a payout ratio of 185.8%.
AXIA Energia S.A. has 87.8% gross margin and 32.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
AXIA Energia S.A.'s Debt/EBITDA ratio is 4.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Macro distortion invalidates core analysis
Yield-Driven Valuation Distorted by Macro Risk
AXIA's 11.0% dividend yield, as reported in current valuation metrics, appears exceptionally high relative to peers, yet the extreme P/B volatility and wide gap between TTM (21.65) and Forward P/E (2.16) suggests the market is heavily discounting near-term earnings stability due to macroeconomic uncertainty.
The valuation profile is dominated by the high dividend yield, which is likely the primary return driver in an environment where earnings are unreliable. However, the severely depressed forward P/E ratio indicates the market expects current reported earnings to be non-recurring or heavily distorted, warranting extreme caution in interpreting valuation multiples for this utility.
ROE Volatility Undermines Regulatory Anchor
AXIA's quarterly ROE has been wildly erratic, ranging from -4.8% in 2025Q3 to 12.0% in 2025Q4, based on the supplied ratio data, which makes it impossible to assess the company's ability to consistently earn its authorized regulatory return.
The fundamental role of ROE in utility analysis is to gauge performance against the regulatory compact, but AXIA's results swing from deeply negative to sharply positive quarter-to-quarter. This pattern strongly implies the reported figures are dominated by non-operational items like inflation restatements or one-time regulatory adjustments, rather than reflecting the underlying earnings power of the rate base.
Regulatory Leverage Masked by Equity Swings
The debt-to-capital ratio has remained steady near 0.38-0.40 over the past two years according to the provided data, but wild swings in reported equity suggest the underlying capital structure risk is being obscured by macro-driven balance sheet volatility.
While the headline leverage ratio appears controlled, the quality of the equity component supporting it is questionable. Equity has fluctuated by over 12% in recent quarters without corresponding operational earnings, indicating that the stable debt-to-capital metric may not reflect the true risk profile or the company's actual capacity to service debt through regulated cash flows.
Payout Sustainability Unverifiable
The dividend payout ratio is not consistently reported in the data, with a 0.0% figure for 2026Q1, suggesting the dividend may not be covered by volatile reported earnings and its sustainability relies on factors outside core operational performance.
For a utility, the dividend is a key promise to investors, but the inability to assess its coverage from accounting earnings undermines confidence. The high yield likely compensates investors for the risk that the payout is being supported by non-recurring regulatory gains or balance sheet adjustments rather than sustainable, regulated cash flows.
Argentine Peer Context Highlights Unique Distortions
Compared to Argentine peers like Pampa (ROE 15.3%) and Central Puerto (ROE 17.7%), AXIA's ROE profile is far more volatile and its profitability metrics are less stable, yet its high dividend yield may be attracting capital despite operational uncertainty.
Within its local peer group, AXIA exhibits the most erratic financial profile, with margins and returns swinging wildly compared to relatively stable peers. This divergence suggests that AXIA's business model or regulatory framework may be uniquely exposed to macroeconomic volatility, making direct peer comparison of standard ratios largely ineffective.
P/B Ratio: A Misleading Benchmark
The price-to-book ratio, ranging from 48.30 to 54.27 over the period, is the metric most commonly misapplied to this utility, as it compares market price to a book value that is heavily distorted by inflation-adjusted asset revaluations and volatile equity, not tangible rate base investment.
Standard P/B analysis assumes book value reflects invested, rate-base assets, but AXIA's book value is clearly dominated by macroeconomic adjustments. Investors using P/B to gauge valuation are likely misled; a more appropriate metric would be EV/RAB (Enterprise Value to Rate Base) if the regulated asset base were transparently disclosed, as it isolates the core utility business from non-operating distortions.