Latest Ratios: P/E Ratio -16.9x · EV/EBITDA 8.7x · ROE -10.9%. (2015–2025 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 | $1.1B | $1.1B | $892M | $1.2B | $1.2B | $1.4B | $1.9B | $2.3B | $2.0B | $1.8B | — |
| Enterprise Value | $1.4B | $1.4B | $1.6B | $2.0B | $2.0B | $2.2B | $3.3B | $4.2B | $4.1B | $4.0B | — |
| P/E Ratio → | -16.93 | — | — | 16.28 | 17.04 | 1024.00 | — | 29.12 | 34.44 | 31.63 | — |
| P/S Ratio | 1.56 | 1.56 | 1.27 | 1.69 | 1.46 | 2.31 | 3.92 | 4.37 | 1.24 | 1.25 | — |
| P/B Ratio | 1.98 | 1.87 | 1.27 | 1.65 | 1.69 | 1.90 | 1.52 | 1.30 | 1.20 | 1.13 | — |
| P/FCF | 16.18 | 16.14 | 11.02 | 16.16 | 9.37 | 20.17 | 11.31 | 16.62 | 17.06 | — | — |
| P/OCF | 8.06 | 8.04 | 5.95 | 8.48 | 6.41 | 10.86 | 8.70 | 8.70 | 8.02 | 15.82 | — |
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 | — | 1.88 | 2.33 | 2.86 | 2.44 | 3.59 | 6.58 | 7.83 | 2.52 | 2.72 | — |
| EV / EBITDA | 8.69 | 8.67 | 8.77 | 10.92 | 10.89 | 16.35 | 25.39 | 29.65 | 10.98 | 11.61 | — |
| EV / EBIT | 17.39 | 22.70 | 37.04 | 15.63 | 15.15 | 43.12 | 61.99 | 37.83 | 19.99 | 33.79 | — |
| EV / FCF | — | 19.48 | 20.32 | 27.39 | 15.65 | 31.42 | 18.97 | 29.78 | 34.65 | — | — |
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 | 21.8% | 21.8% | 28.6% | 28.6% | 27.4% | 28.9% | 30.4% | 31.4% | 23.7% | 25.6% | 23.9% |
| Operating Margin | 10.8% | 10.8% | 13.9% | 14.0% | 12.7% | 8.9% | 10.4% | 12.4% | 11.4% | 11.4% | 7.9% |
| Net Profit Margin | -9.8% | -9.8% | -0.9% | 10.3% | 9.0% | -22.9% | -56.2% | 14.9% | 3.6% | 3.9% | -7.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -10.9% | -10.9% | -0.9% | 10.1% | 10.2% | -13.9% | -18.2% | 4.6% | 3.5% | 4.3% | -12.6% |
| ROA | -4.6% | -4.6% | -0.4% | 3.8% | 3.9% | -5.5% | -7.4% | 1.8% | 1.3% | 1.3% | -3.0% |
| ROIC | 5.1% | 5.1% | 5.0% | 4.8% | 5.2% | 2.0% | 1.2% | 1.3% | 3.7% | 3.4% | 2.9% |
| ROCE | 5.5% | 5.5% | 5.8% | 5.6% | 5.9% | 2.3% | 1.5% | 1.6% | 4.5% | 4.1% | 3.4% |
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 | 0.71 | 0.71 | 1.28 | 1.28 | 1.29 | 1.25 | 1.12 | 1.06 | 1.27 | 1.37 | 2.49 |
| Debt / EBITDA | 2.74 | 2.74 | 4.80 | 4.97 | 4.98 | 6.90 | 11.13 | 13.48 | 5.73 | 6.47 | 12.06 |
| Net Debt / Equity | — | 0.39 | 1.08 | 1.15 | 1.13 | 1.06 | 1.03 | 1.03 | 1.24 | 1.33 | 2.42 |
| Net Debt / EBITDA | 1.49 | 1.49 | 4.02 | 4.48 | 4.37 | 5.85 | 10.24 | 13.10 | 5.57 | 6.28 | 11.73 |
| Debt / FCF | — | 3.34 | 9.31 | 11.23 | 6.28 | 11.24 | 7.65 | 13.16 | 17.59 | — | — |
| Interest Coverage | 1.75 | 1.75 | 0.90 | 2.83 | 3.55 | 1.38 | 1.04 | 1.65 | 2.23 | 0.66 | 0.99 |
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 | 2.64 | 2.64 | 2.64 | 2.07 | 2.07 | 2.01 | 2.12 | 2.11 | 2.19 | 1.90 | 2.03 |
| Quick Ratio | 2.42 | 2.42 | 2.14 | 1.69 | 1.73 | 1.64 | 1.86 | 1.60 | 1.15 | 0.99 | 1.10 |
| Cash Ratio | 1.63 | 1.63 | 1.27 | 0.74 | 0.86 | 0.97 | 0.56 | 0.20 | 0.23 | 0.23 | 0.29 |
| Asset Turnover | — | 0.57 | 0.39 | 0.38 | 0.44 | 0.32 | 0.16 | 0.12 | 0.37 | 0.33 | 0.25 |
| Inventory Turnover | 21.10 | 21.10 | 8.80 | 10.93 | 13.42 | 8.07 | 6.53 | 2.66 | 4.63 | 4.17 | 3.57 |
| Days Sales Outstanding | — | 43.03 | 40.38 | 42.94 | 33.27 | 52.28 | 33.81 | 95.95 | 44.66 | 47.97 | 56.52 |
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 | — | — | — | — | — | 30.9% | 12.5% | 3.4% | 4.0% | 2.4% | — |
| Payout Ratio | — | — | — | — | — | — | — | 100.6% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 6.1% | 5.9% | 0.1% | — | 3.4% | 2.9% | 3.2% | — |
| FCF Yield | 6.2% | 6.2% | 9.1% | 6.2% | 10.7% | 5.0% | 8.8% | 6.0% | 5.9% | — | — |
| Buyback Yield | 4.2% | 4.2% | 0.6% | 6.7% | 11.4% | 0.1% | 0.1% | 0.2% | 0.1% | 0.0% | — |
| Total Shareholder Yield | 4.2% | 4.2% | 0.6% | 6.7% | 11.4% | 31.0% | 12.6% | 3.6% | 4.2% | 2.4% | — |
| Shares Outstanding | — | $116M | $117M | $119M | $135M | $138M | $136M | $136M | $135M | $112M | $78M |
Includes 30+ ratios · 11 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 ECVT stock.
Ecovyst Inc.'s current P/E ratio is -16.9x. The historical average is 25.7x.
Ecovyst Inc.'s current EV/EBITDA is 8.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.8x.
Ecovyst Inc.'s return on equity (ROE) is -10.9%. The historical average is -1.7%.
Based on historical data, Ecovyst Inc. is trading at a P/E of -16.9x. Compare with industry peers and growth rates for a complete picture.
Ecovyst Inc. has 21.8% gross margin and 10.8% operating margin. Operating margin between 10-20% is typical for established companies.
Ecovyst Inc.'s Debt/EBITDA ratio is 2.7x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Persistent negative net margin
Metrics are mathematically derived from official filings.
Margin Recovery Amidst Structural Drags
Gross margin rebounded to 19.9% in 2026Q2 from 15.9% in 2026Q1, but remains below 2024's 29-30% levels, indicating ongoing cost pressures, as per the latest quarterly data.
The sequential gross margin improvement suggests input cost pressures are easing, yet the gap versus 2024 highlights that the cost structure has not fully normalized. Operating margin of 7.8% in 2026Q2 is still below the 12-17% range seen in 2024, implying that operating leverage is only partially recovering. The negative net margin of -9.8% over the trailing year, despite positive operating income, points to non-operating charges such as impairments or interest that continue to mask underlying earning power.
ROIC Stuck Near 2% Despite Asset Base
ROIC has hovered between 1.1% and 1.9% over the past ten quarters, with 2026Q2 at 1.9%, indicating minimal return on invested capital, as reported in the financial statements.
The persistently low ROIC suggests that the company is not generating adequate returns relative to its capital base, which includes significant fixed assets and goodwill. The slight uptick in 2026Q2 to 1.9% from 1.7% in 2026Q1 is marginal and may reflect the Waggaman acquisition's early contribution, but it does not yet signal a structural improvement. Investors should monitor whether management can translate the recent revenue acceleration into higher returns on capital, as the current levels are well below the cost of capital.
Working Capital Efficiency Improves
Cash conversion cycle shortened to 26 days in 2026Q2 from 54 days in 2025Q2, driven by lower DIO and stable DSO, as per the quarterly working capital data.
The reduction in DIO from 37 days in 2025Q2 to 16 days in 2026Q2 is a significant improvement, suggesting better inventory management or a shift in product mix. DSO has remained stable around 38 days, indicating consistent receivables collection. The overall CCC improvement enhances cash flow generation, but the 2026Q2 FCF margin of only 1.5% suggests that working capital gains are not yet translating into robust free cash flow, possibly due to higher capex.
Leverage Spikes on Acquisition
Debt-to-equity jumped to 0.93 in 2026Q2 from 0.08 in 2026Q1, with D/EBITDA at 5.39, reflecting the Waggaman acquisition, as reported in the latest balance sheet.
The sharp increase in leverage is directly tied to the Waggaman acquisition, which added $546.4M in debt. Interest coverage of 5.83 in 2026Q2 is comfortable, but the D/EBITDA of 5.39 is elevated relative to the 1.23 seen in 2026Q1, indicating a higher debt burden. The company's ability to service this debt will depend on the acquired asset's cash generation; the recent earnings beat and raised guidance suggest some confidence, but the negative net margin warrants caution.
Liquidity Buffer Thins Post-Acquisition
Current ratio fell to 1.70 in 2026Q2 from 2.38 in 2026Q1, with cash dropping to $87.8M, indicating reduced short-term flexibility, as per the balance sheet data.
The decline in the current ratio and cash balance reflects the cash outlay for the Waggaman acquisition and debt repayment. While a current ratio of 1.70 remains above 1, the quick ratio of 1.44 suggests that inventory is not a major liquidity concern. However, the reduced cash buffer could limit the company's ability to weather operational disruptions or fund unplanned capex, especially given the capital-intensive nature of the business.
Misapplied EV/EBITDA Multiple
EV/EBITDA of 8.73 appears attractive, but it obscures the impact of the Zeolyst JV and non-cash impairments, which may understate true leverage, as per the reported financials.
The EV/EBITDA multiple is commonly used for chemical companies, but for ECVT, it fails to capture the equity-method accounting of the Zeolyst JV, which contributes to earnings but not to EBITDA. Additionally, the negative net margin and cumulative losses suggest that EBITDA may be inflated by non-cash items, making the multiple misleading. Analysts should consider using EV/EBIT or EV/EBITDA adjusted for JV contributions and one-time charges to better reflect the company's economic reality.