Latest Ratios: P/E Ratio 5.8x · EV/EBITDA 4.5x · ROE 3.5%. (2013–2025 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 | $149M | $902M | $1.7B | $3.0B | $5.1B | $6.5B | $2.7B | $2.2B | — | — | — |
| Enterprise Value | $372M | $1.1B | $1.9B | $2.9B | $5.0B | $6.5B | $2.7B | $2.1B | — | — | — |
| P/E Ratio → | 5.85 | 42.56 | 100.83 | 31.97 | 61.73 | 149.18 | 134.17 | 91.45 | — | — | — |
| P/S Ratio | 0.15 | 1.17 | 2.32 | 3.79 | 7.82 | 14.49 | 7.72 | 7.69 | — | — | — |
| P/B Ratio | 0.21 | 1.55 | 2.69 | 5.27 | 11.83 | 21.51 | 11.46 | 13.31 | — | — | — |
| P/FCF | 2.35 | 18.76 | 35.16 | 27.14 | 47.97 | 78.65 | 89.19 | 79.18 | — | — | — |
| P/OCF | 2.14 | 17.09 | 31.61 | 24.16 | 42.42 | 73.78 | 67.29 | 62.64 | — | — | — |
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 | — | 1.39 | 2.51 | 3.66 | 7.66 | 14.48 | 7.58 | 7.45 | — | — | — |
| EV / EBITDA | 4.54 | 17.29 | 40.93 | 21.76 | 44.30 | 85.19 | 69.58 | 52.28 | — | — | — |
| EV / EBIT | 8.93 | 28.90 | 54.25 | 24.00 | 52.36 | 96.61 | 105.32 | 70.43 | — | — | — |
| EV / FCF | — | 22.27 | 38.03 | 26.27 | 46.97 | 78.58 | 87.61 | 76.67 | — | — | — |
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 | 25.7% | 25.7% | 25.5% | 33.2% | 33.3% | 34.5% | 28.6% | 34.3% | 33.2% | 31.8% | 35.0% |
| Operating Margin | 4.1% | 4.1% | 2.7% | 14.2% | 14.6% | 14.2% | 5.7% | 11.5% | 11.7% | 14.5% | 17.3% |
| Net Profit Margin | 2.7% | 2.7% | 2.3% | 11.8% | 12.7% | 9.7% | 5.7% | 8.3% | 8.7% | 10.6% | 14.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.5% | 3.5% | 2.8% | 18.8% | 22.7% | 16.2% | 9.9% | 20.4% | 32.1% | 42.9% | 59.9% |
| ROA | 2.2% | 2.2% | 1.9% | 13.5% | 15.2% | 10.4% | 6.9% | 12.8% | 14.7% | 18.8% | 25.7% |
| ROIC | 3.1% | 3.1% | 2.4% | 21.1% | 23.1% | 19.7% | 10.5% | 29.1% | 29.6% | 39.8% | 61.6% |
| ROCE | 3.8% | 3.8% | 2.7% | 19.7% | 22.1% | 19.4% | 8.8% | 26.7% | 38.7% | 55.4% | 63.3% |
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 | 0.39 | 0.39 | 0.32 | 0.12 | 0.13 | 0.21 | 0.23 | 0.00 | 0.28 | 0.60 | 0.52 |
| Debt / EBITDA | 3.68 | 3.68 | 4.46 | 0.52 | 0.49 | 0.84 | 1.40 | 0.00 | 0.62 | 1.08 | 0.68 |
| Net Debt / Equity | — | 0.29 | 0.22 | -0.17 | -0.25 | -0.02 | -0.20 | -0.42 | 0.07 | 0.12 | 0.08 |
| Net Debt / EBITDA | 2.72 | 2.72 | 3.09 | -0.71 | -0.94 | -0.08 | -1.25 | -1.71 | 0.15 | 0.22 | 0.11 |
| Debt / FCF | — | 3.51 | 2.87 | -0.86 | -1.00 | -0.08 | -1.58 | -2.51 | 0.17 | 0.70 | 0.31 |
| Interest Coverage | 3.46 | 3.46 | 5.47 | 33.00 | 31.33 | 27.23 | 13.36 | 88.25 | 44.09 | 57.86 | 123.54 |
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 | 2.32 | 2.32 | 1.74 | 2.87 | 2.56 | 1.84 | 2.45 | 2.53 | 0.96 | 1.20 | 1.08 |
| Quick Ratio | 2.32 | 2.32 | 1.74 | 2.87 | 2.56 | 1.84 | 2.54 | 2.53 | 0.96 | 1.20 | 1.07 |
| Cash Ratio | 0.49 | 0.49 | 0.41 | 1.37 | 1.27 | 0.69 | 1.33 | 1.29 | 0.21 | 0.43 | 0.31 |
| Asset Turnover | — | 0.83 | 0.73 | 1.03 | 1.05 | 0.94 | 0.97 | 1.29 | 1.44 | 1.50 | 1.58 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 9090.19 | 1754.19 | 560.04 |
| Days Sales Outstanding | — | 99.81 | 95.38 | 79.15 | 87.03 | 92.49 | 63.50 | 77.29 | 43.62 | 69.25 | 70.75 |
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 | — | — | — | — | — | — | — | — | — | — | 108.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 17.1% | 2.3% | 1.0% | 3.1% | 1.6% | 0.7% | 0.7% | 1.1% | — | — | — |
| FCF Yield | 42.6% | 5.3% | 2.8% | 3.7% | 2.1% | 1.3% | 1.1% | 1.3% | — | — | — |
| Buyback Yield | 57.4% | 7.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 57.4% | 7.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $59M | $59M | $58M | $58M | $57M | $56M | $55M | $50M | $53M | $53M |
Structural margin and liquidity
Based on current market data, Endava’s P/S ratio of 0.15 and P/E of 5.98 suggest that investors have aggressively de-rated the stock, pricing in a permanent shift away from its historical growth profile toward a distressed professional services valuation that warrants extreme caution regarding future multiple expansion.
The current valuation multiples appear to reflect a market consensus that the company’s growth engine has stalled, with the forward P/E of 6.10 indicating that the market expects little to no earnings recovery in the near term. This pricing is significantly lower than peers like Globant or EPAM, suggesting that the market is discounting the firm's ability to navigate its current margin contraction and competitive headwinds.
As reported in recent financial statements, Endava’s ROIC has deteriorated to -0.8% in 2026Q3, marking a sharp reversal from the positive returns observed in 2025, which indicates that the company is currently destroying shareholder value rather than compounding it through its core service delivery model.
The collapse in ROIC is driven by both the erosion of operating margins and a decline in asset turnover, which has fallen to 0.25. This suggests that the capital invested in the business is no longer generating sufficient returns to cover the cost of capital, a trend that appears structural rather than cyclical given the persistent nature of the decline.
According to quarterly filings, Endava’s DSO has trended upward to 101 days in 2026Q3, signaling that the company is experiencing increased difficulty in collecting payments from its client base, which further exacerbates the strain on its already limited liquidity and cash conversion cycle.
The lengthening of the collection cycle suggests that clients may be delaying payments or disputing project milestones, which is a common indicator of deteriorating service-level satisfaction or client-side budget constraints. Investors should monitor whether this trend continues, as it directly impacts the company's ability to fund its own operations without resorting to external financing.
Based on the latest balance sheet data, Endava’s debt-to-equity ratio has surged to 1.38 in 2026Q3, a dramatic increase from the 0.09 level seen in 2024Q3, which indicates that the company is increasingly reliant on debt to sustain operations during this period of negative profitability.
The rise in leverage, coupled with a negative interest coverage ratio of -4.56, suggests that the company’s ability to service its debt is severely compromised. This shift from a net-cash position to a leveraged state significantly increases the risk profile of the firm, as it leaves little room for error in the event of further operational underperformance.
The most commonly misapplied metric for Endava is the top-line revenue growth rate, which obscures the underlying reality that the company is currently experiencing a shift from high-margin digital transformation work to lower-margin, commoditized service delivery that fails to generate meaningful free cash flow.
Investors often focus on revenue growth as a proxy for market share, but in this business model, growth without margin expansion is value-destructive. A more appropriate metric for assessing the health of this business would be 'Revenue per Billable Employee' or 'Operating Margin per Project,' which would better capture the true efficiency and pricing power of the firm's specialized engineering talent.
Includes 30+ ratios · 13 years · Updated daily
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Quick answers to the most common questions about buying DAVA stock.
Endava plc's current P/E ratio is 5.8x. The historical average is 87.4x.
Endava plc's current EV/EBITDA is 4.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 47.3x.
Endava plc's return on equity (ROE) is 3.5%. The historical average is 30.5%.
Based on historical data, Endava plc is trading at a P/E of 5.8x. Compare with industry peers and growth rates for a complete picture.
Endava plc has 25.7% gross margin and 4.1% operating margin.
Endava plc's Debt/EBITDA ratio is 3.7x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.