Latest Ratios: P/E Ratio 18.7x · EV/EBITDA 6.7x · ROE 4.5%. (2012–2025 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 | $1.2B | $1.4B | $1.3B | $1.2B | $916M | $962M | — | — | — | — | — |
| Enterprise Value | $2.2B | $2.4B | $2.3B | $2.3B | $2.2B | $2.4B | — | — | — | — | — |
| P/E Ratio → | 18.72 | 21.72 | 10.34 | 8.03 | 10.60 | — | — | — | — | — | — |
| P/S Ratio | 0.13 | 0.16 | 0.15 | 0.14 | 0.11 | 0.16 | — | — | — | — | — |
| P/B Ratio | 0.83 | 0.96 | 0.90 | 0.82 | 0.69 | 0.77 | — | — | — | — | — |
| P/FCF | — | — | 6.37 | 5.91 | 6.50 | — | — | — | — | — | — |
| P/OCF | 12.90 | 15.09 | 4.53 | 4.24 | 4.04 | 58.71 | — | — | — | — | — |
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 | — | 0.26 | 0.27 | 0.28 | 0.28 | 0.41 | — | — | — | — | — |
| EV / EBITDA | 6.66 | 7.28 | 5.97 | 6.18 | 7.81 | 43.13 | — | — | — | — | — |
| EV / EBIT | 10.08 | 10.29 | 9.28 | 8.10 | 11.57 | 690.57 | — | — | — | — | — |
| EV / FCF | — | — | 11.16 | 11.74 | 15.79 | — | — | — | — | — | — |
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 | 7.8% | 7.8% | 8.5% | 8.4% | 7.5% | 5.8% | 7.7% | 7.3% | 7.4% | 13.4% | 13.9% |
| Operating Margin | 2.4% | 2.4% | 3.3% | 3.3% | 2.2% | -0.1% | 1.5% | 1.1% | 2.0% | 2.1% | 1.8% |
| Net Profit Margin | 0.7% | 0.7% | 1.5% | 1.5% | 1.1% | -0.1% | 1.2% | 1.3% | 0.8% | 1.3% | 0.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.5% | 4.5% | 8.8% | 9.1% | 6.7% | -0.7% | 7.9% | 8.9% | 7.3% | 15.9% | 9.2% |
| ROA | 1.5% | 1.5% | 2.8% | 2.7% | 1.9% | -0.2% | 2.9% | 3.2% | 2.4% | 4.7% | 2.9% |
| ROIC | 6.7% | 6.7% | 8.4% | 7.8% | 4.9% | -0.3% | 4.9% | 3.8% | 9.3% | 15.5% | 12.1% |
| ROCE | 7.3% | 7.3% | 9.8% | 9.1% | 5.5% | -0.4% | 5.9% | 4.5% | 9.7% | 14.1% | 10.3% |
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 | 0.83 | 0.83 | 0.91 | 1.01 | 1.17 | 1.40 | 0.71 | 0.79 | 0.62 | 0.63 | 0.60 |
| Debt / EBITDA | 3.76 | 3.76 | 3.43 | 3.80 | 5.40 | 30.61 | 4.75 | 6.25 | 2.10 | 2.04 | 2.19 |
| Net Debt / Equity | — | 0.65 | 0.68 | 0.81 | 0.99 | 1.19 | 0.48 | 0.59 | 0.43 | 0.33 | 0.17 |
| Net Debt / EBITDA | 2.95 | 2.95 | 2.56 | 3.07 | 4.59 | 26.19 | 3.20 | 4.67 | 1.43 | 1.08 | 0.63 |
| Debt / FCF | — | — | 4.79 | 5.84 | 9.29 | — | 2.72 | 7.93 | 8.39 | 15.93 | 2.58 |
| Interest Coverage | 2.80 | 2.80 | 3.38 | 3.54 | 3.41 | 0.13 | 6.62 | 4.55 | 5.20 | — | — |
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 | 1.17 | 1.17 | 1.18 | 1.12 | 1.10 | 1.20 | 1.06 | 1.02 | 1.08 | 1.08 | 1.13 |
| Quick Ratio | 0.83 | 0.83 | 0.91 | 0.90 | 0.83 | 0.90 | 0.85 | 0.85 | 0.92 | 0.91 | 1.00 |
| Cash Ratio | 0.18 | 0.18 | 0.21 | 0.16 | 0.16 | 0.19 | 0.23 | 0.20 | 0.19 | 0.19 | 0.29 |
| Asset Turnover | — | 1.99 | 1.91 | 1.81 | 1.75 | 1.27 | 2.30 | 2.37 | 2.66 | 3.19 | 3.10 |
| Inventory Turnover | 16.55 | 16.55 | 18.04 | 19.95 | 18.84 | 13.63 | 28.42 | 35.13 | 39.32 | 35.49 | 43.67 |
| Days Sales Outstanding | — | 32.02 | 30.31 | 33.87 | 38.67 | 56.34 | 34.37 | 36.55 | 32.07 | 31.10 | 31.97 |
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 | 2.5% | 2.2% | 2.4% | 2.6% | 3.3% | 1.8% | — | — | — | — | — |
| Payout Ratio | 47.8% | 47.8% | 24.3% | 24.5% | 35.1% | — | 22.6% | 27.1% | 40.9% | 21.0% | 31.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.3% | 4.6% | 9.7% | 12.4% | 9.4% | — | — | — | — | — | — |
| FCF Yield | — | — | 15.7% | 16.9% | 15.4% | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 2.5% | 2.2% | 2.4% | 2.6% | 3.3% | 1.8% | — | — | — | — | — |
| Shares Outstanding | — | $96M | $95M | $95M | $95M | $72M | $93M | $93M | $389M | $326M | $324M |
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying DOLE stock.
Dole plc's current P/E ratio is 18.7x. The historical average is 12.7x. This places it at the 75th percentile of its historical range.
Dole plc's current EV/EBITDA is 6.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.1x.
Dole plc's return on equity (ROE) is 4.5%. The historical average is 8.3%.
Based on historical data, Dole plc is trading at a P/E of 18.7x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Dole plc's current dividend yield is 2.55% with a payout ratio of 47.8%.
Dole plc has 7.8% gross margin and 2.4% operating margin.
Dole plc's Debt/EBITDA ratio is 3.8x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Thin margins and leverage creep
Metrics are mathematically derived from official filings.
Margins Compressed by Cost Pressures
Gross margin fell to 7.8% in 2026Q2 from 9.0% a year earlier, per reported financials, while operating margin dropped to 1.9%, indicating persistent cost inflation eroding thin spreads.
The sequential decline in gross margin from 9.4% in 2024Q2 to 7.8% in 2026Q2 suggests that input cost increases, particularly in logistics and procurement, are not being fully passed through to retail customers. Operating margin at 1.9% in 2026Q2 is well below the 5.3% peak seen in 2024Q1, implying that operating leverage has not materialized despite revenue growth. Net margin of 1.0% remains razor-thin, leaving little room for error; any further cost shock could push the company to breakeven or losses.
ROIC Stagnant Below Cost of Capital
ROIC has hovered between 0.7% and 3.3% over the last ten quarters, per financial statements, with 2026Q2 at 1.4%, suggesting returns are insufficient to cover the cost of capital.
The consistently low ROIC, even at its peak of 3.3% in 2024Q1, indicates that Dole is not generating economic value above its capital costs, which are likely elevated given its debt load. The slight improvement in 2026Q2 to 1.4% from 1.1% in 2025Q4 is marginal and does not signal a turnaround. This stagnation suggests that the merger synergies have not yet translated into improved capital efficiency, and investors should monitor whether the recent port sale proceeds are redeployed into higher-returning assets.
Working Capital Cycle Stable but Tight
Cash conversion cycle improved to 21 days in 2026Q2 from 23 days a year earlier, per reported data, driven by stable DSO and DPO, indicating efficient working capital management.
The CCC of 21 days is relatively short for a perishables business, reflecting the fast-moving nature of inventory and the company's ability to collect receivables quickly. DSO has remained steady at 32 days, while DPO has held near 29-30 days, suggesting Dole maintains balanced terms with both customers and suppliers. However, the slight improvement in CCC is offset by negative free cash flow margin of -0.4% in 2026Q2, indicating that working capital efficiency is not translating into cash generation, likely due to seasonal inventory builds.
Leverage Creep Raises Refinancing Risk
Debt-to-equity rose to 1.01x in 2026Q2 from 0.83x in 2025Q4, per balance sheet data, while interest coverage fell to 3.75x, indicating reduced debt service comfort.
The increase in D/E to 1.01x, coupled with D/EBITDA at 14.03x, suggests that EBITDA has declined relative to debt, making the company more vulnerable to interest rate hikes. Interest coverage of 3.75x in 2026Q2 is down from 5.74x in 2026Q1, reflecting both higher debt and lower operating income. While the current coverage is still above 3x, the trend is concerning; if margins remain compressed, Dole may face challenges refinancing its $1.4B debt at favorable terms.
Liquidity Adequate but Buffer Thin
Current ratio improved to 1.28 in 2026Q2 from 1.17 in 2025Q4, per financial statements, but cash of $291.7M covers only 21% of total debt, leaving a slim cushion.
The current ratio of 1.28 indicates that current assets exceed current liabilities, providing some short-term solvency, but the quick ratio of 0.98 suggests that excluding inventory, liquidity is barely sufficient. Cash reserves are modest relative to the debt load, and with negative free cash flow in the latest quarter, Dole may need to rely on external financing or asset sales to meet obligations. The recent port sale for $95M provides some relief, but it is a one-time event and does not address the underlying cash flow volatility.
Misapplied P/E Obscures Asset Value
The trailing P/E of 19.28 appears expensive, but forward P/E of 9.74 and P/B of 0.85, per valuation data, suggest the market is pricing in earnings recovery and asset backing.
Investors often focus on the trailing P/E, which is distorted by the volatile earnings of the past year, including a loss in 2024Q4. However, the forward P/E of 9.74 indicates that the market expects a significant earnings rebound, which may be overly optimistic given the margin pressures. The P/B of 0.85 suggests the stock trades below book value, potentially highlighting the value of its cold-chain infrastructure and brand assets that are not fully captured in earnings. A more appropriate metric would be EV/EBITDA, which at 6.77 is in line with peers and better reflects the company's operating cash generation.