Latest Ratios: P/E Ratio 14.5x · EV/EBITDA 5.9x · ROE 12.3%. (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 | $24.7B | $20.0B | $19.0B | $19.4B | $19.6B | $9.6B | $6.5B | $7.3B | $10.0B | $13.3B | $10.7B |
| Enterprise Value | $28.6B | $23.9B | $20.8B | $21.0B | $21.6B | $12.0B | $7.6B | $8.3B | $11.2B | $14.3B | $11.7B |
| P/E Ratio → | 14.47 | 11.70 | 16.91 | 11.98 | 4.84 | 8.30 | 32.56 | 10.68 | 17.88 | 130.00 | — |
| P/S Ratio | 3.23 | 2.62 | 3.49 | 3.28 | 2.17 | 2.78 | 4.45 | 3.52 | 4.55 | 7.52 | 9.23 |
| P/B Ratio | 1.67 | 1.35 | 1.45 | 1.49 | 1.55 | 0.82 | 2.95 | 3.38 | 4.77 | 5.25 | 4.16 |
| P/FCF | 15.13 | 12.26 | 18.58 | 12.44 | 5.24 | 10.20 | 32.32 | 11.06 | 47.32 | 99.27 | 619.60 |
| P/OCF | 6.15 | 4.98 | 6.81 | 5.30 | 3.60 | 5.74 | 8.39 | 5.03 | 9.01 | 14.77 | 27.20 |
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 | — | 3.13 | 3.81 | 3.55 | 2.38 | 3.48 | 5.15 | 4.03 | 5.11 | 8.11 | 10.12 |
| EV / EBITDA | 5.94 | 4.97 | 6.43 | 5.54 | 3.15 | 5.32 | 10.94 | 6.10 | 9.40 | 34.26 | 464.36 |
| EV / EBIT | 11.69 | 9.63 | 14.21 | 9.53 | 4.11 | 7.66 | 25.53 | 8.72 | 14.50 | — | — |
| EV / FCF | — | 14.64 | 20.30 | 13.45 | 5.75 | 12.78 | 37.41 | 12.67 | 53.14 | 107.07 | 678.93 |
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 | 41.5% | 41.5% | 36.6% | 46.3% | 66.3% | 56.2% | 29.4% | 48.8% | 46.6% | 33.8% | 1.5% |
| Operating Margin | 32.0% | 32.0% | 25.4% | 36.2% | 57.6% | 45.3% | 20.2% | 46.3% | 35.3% | -8.6% | -48.9% |
| Net Profit Margin | 22.5% | 22.5% | 20.5% | 27.5% | 44.9% | 33.6% | 13.7% | 33.0% | 25.5% | 5.7% | -36.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.3% | 12.3% | 8.6% | 12.6% | 33.3% | 16.6% | 9.2% | 32.1% | 24.2% | 3.9% | -18.2% |
| ROA | 7.5% | 7.5% | 5.3% | 8.0% | 20.3% | 9.5% | 4.5% | 15.7% | 12.5% | 2.0% | -8.0% |
| ROIC | 10.9% | 10.9% | 7.0% | 11.0% | 27.2% | 13.5% | 6.9% | 22.0% | 16.8% | -3.2% | -11.1% |
| ROCE | 11.3% | 11.3% | 7.1% | 11.4% | 27.7% | 13.7% | 7.1% | 23.7% | 19.3% | -3.4% | -11.4% |
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 | 0.27 | 0.27 | 0.29 | 0.19 | 0.21 | 0.30 | 0.53 | 0.58 | 0.59 | 0.60 | 0.59 |
| Debt / EBITDA | 0.83 | 0.83 | 1.18 | 0.67 | 0.38 | 1.53 | 1.69 | 0.92 | 1.03 | 3.64 | 60.38 |
| Net Debt / Equity | — | 0.26 | 0.13 | 0.12 | 0.15 | 0.21 | 0.46 | 0.49 | 0.59 | 0.41 | 0.40 |
| Net Debt / EBITDA | 0.81 | 0.81 | 0.55 | 0.42 | 0.28 | 1.08 | 1.49 | 0.77 | 1.03 | 2.50 | 40.58 |
| Debt / FCF | — | 2.38 | 1.72 | 1.01 | 0.51 | 2.58 | 5.09 | 1.61 | 5.82 | 7.80 | 59.34 |
| Interest Coverage | 12.11 | 12.11 | 13.80 | 30.15 | 74.99 | 25.26 | 5.47 | 17.38 | 10.54 | -1.78 | -6.47 |
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 | 1.19 | 1.19 | 2.92 | 1.21 | 1.85 | 1.75 | 1.07 | 1.73 | 1.90 | 1.21 | 2.78 |
| Quick Ratio | 1.16 | 1.16 | 2.88 | 1.18 | 1.80 | 1.72 | 1.03 | 1.69 | 1.86 | 1.20 | 2.73 |
| Cash Ratio | 0.08 | 0.08 | 1.79 | 0.58 | 0.56 | 0.85 | 0.36 | 0.61 | 0.01 | 0.76 | 1.93 |
| Asset Turnover | — | 0.31 | 0.25 | 0.29 | 0.45 | 0.17 | 0.32 | 0.46 | 0.52 | 0.37 | 0.23 |
| Inventory Turnover | 93.10 | 93.10 | 75.28 | 53.86 | 48.41 | 38.77 | 69.00 | 75.94 | 105.46 | 145.87 | 85.55 |
| Days Sales Outstanding | — | 67.27 | 54.70 | 44.50 | 42.95 | 97.36 | 53.53 | 36.75 | 60.34 | 44.32 | 58.22 |
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 | 2.8% | 3.4% | 3.3% | 4.6% | 10.1% | 8.1% | 2.4% | 2.0% | 1.1% | 0.6% | 0.3% |
| Payout Ratio | 39.7% | 39.7% | 55.8% | 54.8% | 49.0% | 67.4% | 79.1% | 21.4% | 20.0% | 78.5% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.9% | 8.5% | 5.9% | 8.3% | 20.7% | 12.1% | 3.1% | 9.4% | 5.6% | 0.8% | — |
| FCF Yield | 6.6% | 8.2% | 5.4% | 8.0% | 19.1% | 9.8% | 3.1% | 9.0% | 2.1% | 1.0% | 0.2% |
| Buyback Yield | 0.6% | 0.7% | 2.4% | 2.1% | 6.4% | 1.2% | 0.0% | 7.2% | 8.8% | 0.9% | 0.0% |
| Total Shareholder Yield | 3.3% | 4.1% | 5.7% | 6.7% | 16.5% | 9.3% | 2.4% | 9.2% | 9.9% | 1.5% | 0.3% |
| Shares Outstanding | — | $761M | $745M | $760M | $799M | $504M | $401M | $417M | $446M | $464M | $457M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CTRA stock.
Coterra Energy Inc.'s current P/E ratio is 14.5x. The historical average is 41.8x. This places it at the 25th percentile of its historical range.
Coterra Energy Inc.'s current EV/EBITDA is 5.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.0x.
Coterra Energy Inc.'s return on equity (ROE) is 12.3%. The historical average is 12.4%.
Based on historical data, Coterra Energy Inc. is trading at a P/E of 14.5x. This is at the 25th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Coterra Energy Inc.'s current dividend yield is 2.75% with a payout ratio of 39.7%.
Coterra Energy Inc. has 41.5% gross margin and 32.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Coterra Energy Inc.'s Debt/EBITDA ratio is 0.8x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Commodity price volatility
Metrics are mathematically derived from official filings.
Discounted Cash Flow Visibility
CTRA trades at 5.94x EV/EBITDA and 14.47x P/E, below the diversified peer average, suggesting the market may be underpricing its low-cost Marcellus inventory and balanced commodity exposure, as per recent filings.
The forward P/E of 11.28x implies the market expects earnings growth, but the PEG of 0.41 suggests the stock is undervalued relative to its growth prospects. However, this growth is highly dependent on commodity prices, which are cyclical. The EV/EBITDA multiple of 5.94x is at a discount to EQT's 7.16x and Antero's 10.20x, indicating the market may be applying a conglomerate discount to Coterra's diversified model, despite its operational flexibility.
Margin Normalization After Anomaly
Gross margin contracted to 37.2% in Q1 2026 from 47.4% a year earlier, based on reported figures, reflecting lower realized prices and a return to typical cost structures after prior one-time gains.
Operating margin of 33.2% in Q1 2026 is down from 36.9% in Q1 2025, but remains above the peer average, indicating strong cost control. However, the net margin of 23.9% appears inflated relative to peers, likely due to derivative gains and non-cash items. Investors should focus on cash flow metrics rather than net income, as the company's cash conversion is robust, with operating cash flow consistently exceeding net income.
Capital Efficiency Cyclicality
ROIC averaged 2.3% over the last ten quarters, as per financial statements, reflecting the cyclicality of commodity prices, but the company's low-cost assets and disciplined capital allocation suggest potential for above-cycle returns.
ROIC of 2.6% in Q1 2026 is below the peer average of 8.9%, but this is largely due to the current price environment. The company's asset-heavy model and high fixed costs mean returns are highly sensitive to commodity prices. However, its low debt levels and strong free cash flow generation provide a cushion, and the recent revenue rebound suggests improving returns ahead.
Working Capital Leverage Shift
Cash conversion cycle turned negative to -20 days in Q1 2026, as per reported data, driven by a sharp increase in days payable outstanding to 87, indicating improved supplier leverage and efficient working capital management.
The negative CCC is a positive sign, as it means the company is collecting cash from sales before paying suppliers. DSO has risen to 63 days from 38 days a year ago, which may indicate slower collections or changes in sales mix. However, the significant extension of DPO to 87 days from 7 days suggests the company is using its purchasing power to delay payments, improving cash flow. This trend warrants monitoring for sustainability.
Fortress Balance Sheet Flexibility
Debt-to-equity stands at 0.23, with interest coverage of 14.11x, as per recent financial statements, indicating minimal leverage and ample capacity to service debt even under stressed commodity prices.
The company's conservative capital structure provides significant dry powder for M&A or shareholder returns. D/EBITDA of 2.93x is well below the 3.0x threshold typically considered comfortable, and interest coverage of 14.11x is robust. This low leverage is a strategic advantage, allowing Coterra to weather downturns and potentially acquire distressed assets.
Thin but Adequate Liquidity
Current ratio fell to 1.01 in Q1 2026 from 1.19 in Q4 2025, based on reported figures, indicating a thinner liquidity buffer but still above the 1.0 threshold, with cash at $485 million.
The quick ratio of 0.99 suggests that even without inventory, the company can cover its short-term liabilities. However, the liquidity position is tight, and a further decline in commodity prices could strain it. The company's strong operating cash flow, which averaged over $900 million per quarter, provides a cushion, but investors should monitor the current ratio closely.
Misapplied P/E Distortion
The P/E ratio is commonly misapplied to Coterra because reported earnings are heavily influenced by non-cash derivative mark-to-market adjustments, as per financial statements, obscuring true earning power.
Net income includes significant non-cash gains and losses from hedging activities, which can distort the P/E multiple. For example, the net margin of 23.9% in Q1 2026 is likely inflated by derivative gains. Instead, investors should use EV/EBITDA or price-to-cash flow metrics, which better capture the company's cash-generating ability. The EV/EBITDA of 5.94x is more meaningful and indicates the company is attractively valued relative to its cash flow.