Latest Ratios: P/E Ratio 19.2x · EV/EBITDA 30.5x · ROE 3.7%. (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 | $862M | $737M | $1.1B | $766M | $298M | $525M | $395M | $456M | $337M | $608M | $371M |
| Enterprise Value | $1.7B | $1.6B | $1.9B | $1.4B | $1.1B | $1.3B | $1.2B | $1.5B | $1.4B | $1.6B | $1.5B |
| P/E Ratio → | 19.21 | 16.15 | 7.54 | 4.83 | 1.35 | 4.30 | 7.59 | — | — | 18.93 | 77.73 |
| P/S Ratio | 0.36 | 0.31 | 0.45 | 0.35 | 0.13 | 0.25 | 0.19 | 0.22 | 0.16 | 0.32 | 0.20 |
| P/B Ratio | 0.70 | 0.59 | 0.86 | 0.69 | 0.32 | 0.72 | 0.67 | 0.85 | 0.52 | 0.89 | 0.58 |
| P/FCF | 247.60 | 211.72 | — | 4.86 | 4.51 | 30.86 | 1.42 | 4.94 | 25.44 | 7.28 | 2.46 |
| P/OCF | 26.94 | 23.04 | — | 4.30 | 3.67 | 16.59 | 1.37 | 4.01 | 11.14 | 6.34 | 2.27 |
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 | — | 0.67 | 0.81 | 0.64 | 0.47 | 0.63 | 0.56 | 0.73 | 0.68 | 0.86 | 0.81 |
| EV / EBITDA | 30.55 | 28.31 | 12.03 | 7.48 | 3.77 | 8.37 | 12.65 | — | 14.99 | 21.58 | 20.16 |
| EV / EBIT | 46.55 | 38.65 | 13.28 | 8.00 | 3.96 | 9.17 | 15.16 | — | 17.52 | 26.44 | 24.84 |
| EV / FCF | — | 453.72 | — | 8.99 | 16.32 | 79.16 | 4.31 | 16.56 | 107.70 | 19.68 | 9.77 |
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 | 14.2% | 14.2% | 18.2% | 20.1% | 23.2% | 18.9% | 16.3% | 8.0% | 16.4% | 16.3% | 16.3% |
| Operating Margin | 1.5% | 1.5% | 6.1% | 8.0% | 11.8% | 6.9% | 3.7% | -4.3% | 3.9% | 3.2% | 3.3% |
| Net Profit Margin | 1.9% | 1.9% | 6.0% | 7.2% | 9.5% | 5.7% | 2.5% | -3.8% | -2.2% | 1.7% | 0.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.7% | 3.7% | 12.0% | 15.5% | 26.5% | 18.5% | 9.2% | -13.4% | -6.8% | 4.8% | 0.7% |
| ROA | 1.8% | 1.8% | 5.6% | 6.8% | 10.2% | 6.0% | 2.6% | -3.9% | -2.1% | 1.4% | 0.2% |
| ROIC | 1.3% | 1.3% | 5.6% | 7.7% | 12.5% | 7.5% | 3.9% | -4.0% | 3.5% | 2.7% | 2.4% |
| ROCE | 1.5% | 1.5% | 6.3% | 8.4% | 14.2% | 8.3% | 4.4% | -4.7% | 4.0% | 3.0% | 2.8% |
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 | 0.85 | 0.85 | 0.85 | 0.90 | 1.06 | 1.47 | 1.93 | 2.19 | 1.91 | 1.95 | 2.07 |
| Debt / EBITDA | 18.95 | 18.95 | 6.62 | 5.26 | 3.48 | 6.64 | 12.10 | — | 12.91 | 17.43 | 18.22 |
| Net Debt / Equity | — | 0.67 | 0.68 | 0.59 | 0.83 | 1.13 | 1.35 | 1.99 | 1.69 | 1.52 | 1.72 |
| Net Debt / EBITDA | 15.10 | 15.10 | 5.33 | 3.44 | 2.73 | 5.11 | 8.48 | — | 11.45 | 13.60 | 15.09 |
| Debt / FCF | — | 242.00 | — | 4.13 | 11.81 | 48.29 | 2.89 | 11.61 | 82.26 | 12.40 | 7.31 |
| Interest Coverage | — | — | — | 2.59 | — | 1.63 | 0.77 | -0.92 | — | — | — |
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 | 11.38 | 11.38 | 10.17 | 9.61 | 9.66 | 6.62 | 6.31 | 12.64 | 14.79 | 18.20 | 8.91 |
| Quick Ratio | 1.45 | 1.45 | 1.33 | 1.90 | 1.41 | 1.13 | 1.36 | 1.18 | 1.41 | 3.30 | 1.42 |
| Cash Ratio | 1.05 | 1.05 | 0.88 | 1.52 | 1.02 | 0.90 | 1.26 | 0.81 | 1.11 | 2.82 | 1.09 |
| Asset Turnover | — | 0.91 | 0.90 | 0.92 | 1.03 | 1.03 | 1.06 | 1.07 | 0.99 | 0.86 | 0.82 |
| Inventory Turnover | 1.00 | 1.00 | 0.93 | 1.00 | 1.02 | 1.16 | 1.32 | 1.28 | 1.04 | 1.04 | 0.97 |
| Days Sales Outstanding | — | 12.03 | 10.25 | 7.54 | 7.17 | 4.38 | 4.99 | 5.48 | 4.27 | 6.94 | 10.72 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.2% | 6.2% | 13.3% | 20.7% | 74.1% | 23.2% | 13.2% | — | — | 5.3% | 1.3% |
| FCF Yield | 0.4% | 0.5% | — | 20.6% | 22.2% | 3.2% | 70.4% | 20.2% | 3.9% | 13.7% | 40.7% |
| Buyback Yield | 3.8% | 4.5% | 1.2% | 0.0% | 2.7% | 0.0% | 0.8% | 7.6% | 1.0% | 0.1% | 0.0% |
| Total Shareholder Yield | 3.8% | 4.5% | 1.2% | 0.0% | 2.7% | 0.0% | 0.8% | 7.6% | 1.0% | 0.1% | 0.0% |
| Shares Outstanding | — | $30M | $31M | $31M | $31M | $30M | $30M | $31M | $32M | $32M | $32M |
Margin compression and leverage
Based on reported financial data, Beazer Homes trades at a P/S multiple of 0.36, which appears to reflect a significant valuation discount compared to peers like LGI Homes, likely pricing in the market's skepticism regarding the company's ability to sustain profitability amidst persistent margin compression and high leverage.
The current EV/EBITDA multiple of 30.55 suggests that the market is heavily discounting the company's earnings power relative to its debt-laden capital structure. Investors should monitor whether this valuation gap narrows as the company attempts to pivot toward higher-density product lines, though current multiples imply that the market remains unconvinced of a near-term recovery in return on capital.
As reported in recent financial statements, Beazer's ROIC has trended into negative territory, reaching -0.9% in 2026Q2, which indicates that the company is currently failing to generate returns on invested capital that exceed its cost of capital, a trend that warrants further investigation by long-term investors.
The decay in ROIC from 2.0% in 2024Q4 to negative levels suggests that the company's land-heavy model is struggling to maintain efficiency in a high-rate environment. This deterioration appears to be driven by both shrinking operating margins and an inability to optimize asset turnover, leaving the company in a position where capital allocation decisions may be value-destructive.
According to the latest quarterly filings, Beazer's cash conversion cycle has ballooned to 533 days in 2026Q2, a significant increase from 275 days in 2024Q4, reflecting the intense capital requirements and operational bottlenecks inherent in the company's current land-heavy, project-based construction model.
The extreme duration of the cash conversion cycle, driven largely by high days inventory outstanding, suggests that the company is carrying significant capital in unfinished projects. This lack of efficiency limits the company's ability to recycle cash into new land acquisitions, potentially constraining future growth and increasing sensitivity to interest rate fluctuations.
Investors frequently misapply the P/E ratio to Beazer Homes, as reported in financial statements, because the metric fails to account for the company's heavy reliance on capitalized interest and non-cash inventory impairments, which can artificially inflate or deflate earnings in any given quarter.
A more appropriate metric for this business model would be Price-to-Book or EV/EBITDA, as these better capture the asset-intensive nature of homebuilding and the impact of debt on the company's valuation. Relying on P/E in a cyclical, capital-intensive industry like residential construction often obscures the underlying volatility of cash flows and the risks associated with the company's land-banking strategy.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying BZH stock.
Beazer Homes USA, Inc.'s current P/E ratio is 19.2x. The historical average is 11.2x. This places it at the 95th percentile of its historical range.
Beazer Homes USA, Inc.'s current EV/EBITDA is 30.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.7x.
Beazer Homes USA, Inc.'s return on equity (ROE) is 3.7%. The historical average is -0.3%.
Based on historical data, Beazer Homes USA, Inc. is trading at a P/E of 19.2x. This is at the 95th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Beazer Homes USA, Inc. has 14.2% gross margin and 1.5% operating margin.
Beazer Homes USA, Inc.'s Debt/EBITDA ratio is 18.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.