Latest Ratios: P/E Ratio 24.8x · EV/EBITDA 6.3x · ROE 9.3%. (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 | $2.1B | $2.5B | $1.6B | $1.9B | — | — | — | — | — | — | — |
| Enterprise Value | $2.9B | $3.3B | $2.4B | $2.7B | — | — | — | — | — | — | — |
| P/E Ratio → | 24.82 | 26.73 | — | 1.35 | — | — | — | — | — | — | — |
| P/S Ratio | 0.56 | 0.66 | 0.43 | 0.50 | — | — | — | — | — | — | — |
| P/B Ratio | 2.12 | 2.29 | 1.72 | 1.73 | — | — | — | — | — | — | — |
| P/FCF | 8.13 | 9.59 | 12.28 | — | — | — | — | — | — | — | — |
| P/OCF | 7.12 | 8.40 | 10.85 | — | — | — | — | — | — | — | — |
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 | — | 0.87 | 0.63 | 0.71 | — | — | — | — | — | — | — |
| EV / EBITDA | 6.33 | 7.17 | 7.54 | 12.52 | — | — | — | — | — | — | — |
| EV / EBIT | 8.75 | 15.98 | 11.69 | 17.97 | — | — | — | — | — | — | — |
| EV / FCF | — | 12.58 | 17.98 | — | — | — | — | — | — | — | — |
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 | 26.4% | 26.4% | 24.5% | 23.3% | 21.9% | 26.7% | 26.5% | 24.4% | 19.5% | 22.3% | 22.5% |
| Operating Margin | 8.8% | 8.8% | 4.9% | 2.3% | -6.1% | 3.5% | 0.6% | 5.3% | -7.9% | 2.9% | 1.8% |
| Net Profit Margin | 2.5% | 2.5% | -0.4% | 36.6% | -16.8% | -2.0% | -6.9% | -7.7% | -12.4% | -5.2% | -5.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.3% | 9.3% | -1.6% | 127.5% | — | — | — | — | -120.3% | -23.6% | -23.7% |
| ROA | 2.6% | 2.6% | -0.4% | 38.1% | -17.7% | -2.2% | -7.2% | -8.4% | -11.9% | -4.6% | -4.7% |
| ROIC | 14.0% | 14.0% | 7.6% | 4.4% | -14.0% | 8.0% | 1.2% | 10.4% | -13.1% | 4.5% | 3.1% |
| ROCE | 14.1% | 14.1% | 7.3% | 4.1% | -13.2% | 7.3% | 1.1% | 9.5% | -11.8% | 3.9% | 2.6% |
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 | 1.06 | 1.06 | 1.12 | 1.26 | — | — | — | — | — | 1.90 | 1.68 |
| Debt / EBITDA | 2.54 | 2.54 | 3.33 | 6.36 | — | 8.56 | 12.21 | 5.01 | — | 4.78 | 9.21 |
| Net Debt / Equity | — | 0.71 | 0.80 | 0.75 | — | — | — | — | — | 1.35 | 1.07 |
| Net Debt / EBITDA | 1.70 | 1.70 | 2.39 | 3.78 | — | 7.20 | 10.62 | 4.40 | — | 3.38 | 5.87 |
| Debt / FCF | — | 2.99 | 5.70 | — | — | 28.63 | — | 21.85 | — | — | — |
| Interest Coverage | 2.42 | 2.42 | 1.30 | 0.60 | -1.20 | 0.74 | -0.01 | -0.16 | -2.09 | -0.67 | -1.40 |
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 | 1.30 | 1.30 | 1.32 | 1.52 | 1.10 | 1.08 | 1.13 | 1.18 | 1.40 | 1.38 | 1.44 |
| Quick Ratio | 0.92 | 0.92 | 0.90 | 1.10 | 0.74 | 0.77 | 0.82 | 0.89 | 1.02 | 0.98 | 1.03 |
| Cash Ratio | 0.30 | 0.30 | 0.25 | 0.40 | 0.21 | 0.24 | 0.22 | 0.18 | 0.25 | 0.35 | 0.39 |
| Asset Turnover | — | 0.99 | 1.06 | 0.90 | 1.13 | 1.11 | 1.07 | 1.16 | 1.06 | 0.88 | 0.63 |
| Inventory Turnover | 5.38 | 5.38 | 5.36 | 4.89 | 4.60 | 5.26 | 5.76 | 7.14 | 6.04 | 5.01 | 3.48 |
| Days Sales Outstanding | — | 58.45 | 57.26 | 70.06 | 64.57 | 55.63 | 60.51 | 51.28 | 58.77 | 65.56 | 101.38 |
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 | 4.0% | 3.7% | — | 73.9% | — | — | — | — | — | — | — |
| FCF Yield | 12.3% | 10.4% | 8.1% | — | — | — | — | — | — | — | — |
| Buyback Yield | 6.1% | 5.2% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 6.1% | 5.2% | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $37M | $38M | $64M | $79M | $78M | $78M | $77M | $76M | $76M | $69M |
Includes 30+ ratios · 30 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying DBD stock.
Diebold Nixdorf, Incorporated's current P/E ratio is 24.8x. The historical average is 14.0x. This places it at the 50th percentile of its historical range.
Diebold Nixdorf, Incorporated's current EV/EBITDA is 6.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.1x.
Diebold Nixdorf, Incorporated's return on equity (ROE) is 9.3%. The historical average is 6.2%.
Based on historical data, Diebold Nixdorf, Incorporated is trading at a P/E of 24.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Diebold Nixdorf, Incorporated has 26.4% gross margin and 8.8% operating margin.
Diebold Nixdorf, Incorporated's Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Revenue growth remains sluggish
Metrics are mathematically derived from official filings.
Discounted Earnings, Rich Multiple
DBD trades at 28.8x trailing earnings but only 13.6x forward, implying the market expects a sharp earnings rebound. According to reported figures, EV/EBITDA of 7.1x is below the peer NCR Atleos at 7.8x, suggesting relative undervaluation on an EBITDA basis.
The wide gap between trailing and forward P/E suggests the market is pricing in a significant earnings recovery, likely driven by the Q4 2025 spike. However, with revenue growth tepid and margins below peers, the forward multiple may be optimistic. The EV/EBITDA discount to NCR Atleos could indicate the market is skeptical of earnings sustainability, or it may reflect DBD's higher leverage and weaker cash flow consistency.
Margin Recovery Remains Uneven
Gross margin improved to 25.7% in Q2 2026 from 23.3% in Q1 2024, but operating margin remains volatile, swinging from 2.7% to 11.6% over the past ten quarters. As reported in financial statements, net margin has been negative in several quarters, indicating limited pricing power.
The Q4 2025 operating margin of 11.6% appears to be an outlier, as other quarters cluster in the 4-8% range. This suggests that the company's core operations generate modest profitability, and the recent improvement may be partly due to one-time items. Investors should monitor whether the gross margin can sustain above 26% and whether operating leverage can be achieved without revenue acceleration.
Returns on Capital Remain Subdued
ROIC has averaged around 2.5% over the last ten quarters, with a peak of 5.0% in Q4 2025, while ROE has been negative in several quarters. Based on reported figures, returns are far below the cost of capital, indicating value destruction.
The low and volatile ROIC suggests that DBD is not generating sufficient returns on its invested capital, which includes a significant amount of goodwill and intangibles. The Q4 2025 spike in ROIC to 5.0% was driven by an unusual earnings quarter, not a sustainable improvement in capital efficiency. Without a meaningful increase in margins or asset turnover, returns are unlikely to reach double digits.
Working Capital Swings Distort Efficiency
Cash conversion cycle has ranged from 63 to 86 days over the past ten quarters, with DSO improving to 57 days in Q2 2026 from 70 days in Q1 2024. According to recent filings, DPO has remained stable around 60-70 days, indicating limited supplier leverage.
The improvement in DSO suggests better receivables collection, but the CCC remains elevated due to high inventory days (76 days in Q2 2026). The volatility in working capital is a primary driver of cash flow swings, as seen in the large OCF fluctuations. This indicates that efficiency gains are not yet structural, and the company may be managing working capital to smooth earnings rather than improving underlying operations.
Leverage Eases but Debt Service Remains Tight
D/E improved to 0.97 in Q2 2026 from 1.12 in Q4 2024, but D/EBITDA remains high at 16.4x, and interest coverage is only 2.4x. As reported in financial statements, debt levels are still substantial relative to equity.
The decline in D/E is positive, but the D/EBITDA ratio is alarming, indicating that EBITDA is insufficient to cover debt obligations comfortably. Interest coverage of 2.4x is thin, leaving little room for earnings shocks. The Q4 2025 EBITDA spike temporarily improved leverage metrics, but subsequent quarters show a reversion, suggesting that the company's debt burden remains a key risk.
Liquidity Buffer Thins but Remains Adequate
Current ratio has declined to 1.27 in Q2 2026 from 1.45 in Q4 2024, while quick ratio is 0.83, indicating reliance on inventory. Based on reported figures, cash reserves have fallen to $282.4M, reducing the cushion.
The current ratio above 1.0 suggests short-term obligations are covered, but the quick ratio below 1.0 implies that inventory is a significant component of current assets. In a stress scenario, inventory may not be easily liquidated, and the company's ability to meet obligations could be strained. The declining cash position and volatile operating cash flow warrant close monitoring.
Trailing NCR Atleos on Key Metrics
DBD's ROE of 1.5% in Q2 2026 is far below NCR Atleos's 49.2%, and its net margin of 1.7% lags the peer's 3.7%. According to peer data, DBD's EV/EBITDA is lower, but this may reflect higher risk.
The comparison with NCR Atleos highlights DBD's weaker profitability and return generation. While DBD's lower EV/EBITDA could suggest undervaluation, it may also be a function of its higher leverage and less consistent cash flows. The gap in ROE is structural, driven by DBD's lower margins and asset efficiency, and is unlikely to close without a significant operational turnaround.
EV/EBITDA Misleads on Leverage
EV/EBITDA is often used to compare companies, but for DBD, it obscures the high debt load and volatile EBITDA. As reported in financial statements, D/EBITDA of 16.4x in Q2 2026 indicates that EBITDA is not a reliable measure of cash flow.
The EV/EBITDA multiple of 7.1x appears attractive, but it fails to capture the company's substantial debt and the variability of EBITDA. A more appropriate metric would be EV/EBIT or EV/FCF, which better reflect the company's ability to service debt. Investors should adjust for the one-time Q4 2025 earnings spike and focus on normalized EBITDA to assess true leverage.