Latest Ratios: P/E Ratio 24.8x · EV/EBITDA 4.3x · ROE 1.9%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $859M | $782M | $406M | $658M | — | — | — |
| Enterprise Value | $2.1B | $1.7B | $942M | $620M | $857M | — | — | — |
| P/E Ratio → | 24.83 | 21.91 | 23.82 | 13.33 | 8.21 | — | — | — |
| P/S Ratio | 0.85 | 0.70 | 0.92 | 0.35 | 0.27 | — | — | — |
| P/B Ratio | 0.51 | 0.39 | 0.41 | 0.22 | 0.39 | — | — | — |
| P/FCF | 48.60 | — | 5.96 | — | 6.22 | — | — | — |
| P/OCF | 2.67 | 1.95 | 3.20 | 1.75 | 2.92 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.42 | 1.11 | 0.53 | 0.35 | — | — | — |
| EV / EBITDA | 4.32 | 4.06 | 3.00 | 1.82 | 2.71 | — | — | — |
| EV / EBIT | 6.86 | 6.05 | 3.92 | 2.73 | 5.11 | — | — | — |
| EV / FCF | — | — | 7.18 | — | 8.10 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 32.2% | 32.2% | 47.9% | 35.6% | 10.5% | 22.6% | 40.9% | 38.5% |
| Operating Margin | 24.5% | 24.5% | 25.3% | 18.2% | 7.5% | 15.7% | 30.9% | 32.0% |
| Net Profit Margin | 3.2% | 3.2% | 3.9% | 2.6% | 1.1% | 4.6% | 9.0% | 10.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 1.9% | 1.9% | 1.8% | 1.7% | 1.9% | 4.6% | 5.1% | 7.4% |
| ROA | 1.1% | 1.1% | 1.1% | 1.1% | 1.0% | 1.7% | 1.8% | 2.6% |
| ROIC | 8.7% | 8.7% | 7.9% | 8.1% | 7.3% | 5.3% | 5.0% | 6.7% |
| ROCE | 9.3% | 9.3% | 8.1% | 8.2% | 8.4% | 6.9% | 6.6% | 8.8% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.64 | 0.64 | 0.37 | 0.43 | 0.42 | 1.01 | 1.75 | 1.69 |
| Debt / EBITDA | 3.32 | 3.32 | 2.22 | 2.27 | 2.27 | 3.80 | 5.40 | 4.55 |
| Net Debt / Equity | — | 0.40 | 0.08 | 0.12 | 0.12 | 0.94 | 1.63 | 1.61 |
| Net Debt / EBITDA | 2.07 | 2.07 | 0.51 | 0.63 | 0.63 | 3.53 | 5.03 | 4.35 |
| Debt / FCF | — | — | 1.22 | — | 1.88 | 8.96 | 18.57 | 11.37 |
| Interest Coverage | 3.07 | 3.07 | 3.94 | 3.39 | 2.82 | 1.77 | 1.52 | 1.61 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.43 | 2.43 | 3.49 | 3.43 | 2.10 | 0.94 | 0.87 | 0.63 |
| Quick Ratio | 2.34 | 2.34 | 3.38 | 3.42 | 1.66 | 0.74 | 0.76 | 0.60 |
| Cash Ratio | 1.75 | 1.75 | 2.69 | 2.81 | 1.35 | 0.16 | 0.47 | 0.36 |
| Asset Turnover | — | 0.30 | 0.30 | 0.41 | 0.86 | 0.36 | 0.19 | 0.26 |
| Inventory Turnover | 30.76 | 30.76 | 18.53 | 253.41 | 12.75 | 6.55 | 11.39 | 63.92 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.8% | 1.0% | 3.3% | 0.6% | 0.8% | — | — | — |
| Payout Ratio | 21.7% | 21.7% | 78.8% | 8.6% | 20.6% | — | 19.6% | 1.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.0% | 4.6% | 4.2% | 7.5% | 12.2% | — | — | — |
| FCF Yield | 2.1% | — | 16.8% | — | 16.1% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 6.4% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.8% | 1.0% | 9.7% | 0.7% | 0.8% | — | — | — |
| Shares Outstanding | — | $31M | $26M | $26M | $26M | $24M | $24M | $24M |
Includes 30+ ratios · 7 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying EE stock.
Excelerate Energy, Inc.'s current P/E ratio is 24.8x. The historical average is 16.8x. This places it at the 100th percentile of its historical range.
Excelerate Energy, Inc.'s current EV/EBITDA is 4.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 2.9x.
Excelerate Energy, Inc.'s return on equity (ROE) is 1.9%. The historical average is 3.5%.
Based on historical data, Excelerate Energy, Inc. is trading at a P/E of 24.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Excelerate Energy, Inc.'s current dividend yield is 0.76% with a payout ratio of 21.7%.
Excelerate Energy, Inc. has 32.2% gross margin and 24.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Excelerate Energy, Inc.'s Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Non-operating earnings drag
Metrics are mathematically derived from official filings.
Premium Multiple Rests on Thin Earnings
Based on EE's reported figures, the trailing P/E of 28.76 and forward P/E of 23.28 sit well above the 0.51 P/B and 0.8% dividend yield, suggesting the market is pricing earnings recovery rather than current book-value or income support.
The gap between a 28.76 trailing P/E and a 0.51 P/B implies that the equity is valued on expected future earnings rather than the asset base, which is a growth-infrastructure pricing posture rather than a utility-style rate-anchored one. The 0.8% dividend yield is too low to function as a primary return component, so investors appear to be relying on capital appreciation. Investors should monitor whether the forward P/E compression from 28.76 to 23.28 materializes into sustained net margin improvement.
Thin Returns Versus Asset Base
Across the ten reported quarters, EE's ROE stayed mostly between 0.2% and 0.6%, with only the 2.6% reading in 2025Q1 standing out, which suggests the equity base is not yet generating returns comparable to a regulated utility's authorized level.
Because EE is not a rate-regulated utility in the conventional sense, the authorized-ROE framework does not map directly, but the comparison to a utility-style return benchmark is still instructive. A persistent ROE near 0.5% indicates that operating strength, visible in the 31.8% latest operating margin, is being consumed before reaching shareholders. This warrants further investigation into the non-operating charges, interest, and minority-interest items driving the gap.
Operating Margin Volatile Across Quarters
EE's operating margin moved between 18.9% and 31.8% across recent quarters, with the latest 31.8% reading in 2026Q3 well above the 18.9% low in 2026Q1, suggesting margin recovery is uneven rather than the steady pass-through typical of rate-recovered costs.
The swings in operating margin likely reflect LNG throughput and commodity timing rather than the stable cost-recovery mechanisms of a regulated utility. Based on reported figures, the wide operating-margin range indicates that cost recovery depends on contract mix and cargo timing, so the trend should not be extrapolated mechanically. Investors should monitor whether the latest margin strength persists through the next quarters.
Leverage Stable Despite Lower Debt Load
EE's debt-to-capital ratio moved from 0.26 to 0.40 over the period while interest coverage stayed between 2.10 and 5.06, suggesting leverage optics have risen even as coverage remains serviceable on reported figures.
The rise in debt-to-capital from roughly 0.26 to about 0.37 to 0.40 appears to reflect equity growing more slowly than debt-funded fleet additions rather than a sudden increase in borrowing. Interest coverage of 3.58 in the latest quarter and FFO-to-debt of 4.69 suggest debt service is currently covered, though the 2.10 coverage low in 2025Q2 shows the cushion has been thin at times. This warrants continued monitoring of coverage during fleet capex cycles.
Quarterly Beats Obscure Erratic Trajectory
Based on EE's reported figures, the latest quarter's EPS beat of $0.44 against a $0.43 estimate sits against a 24.0% sequential revenue decline, which may suggest the record-earnings framing rests on a narrow and unstable base.
The P/E ratio is the most commonly misapplied metric here, because comparing a 28.76 trailing P/E to regulated utilities or industrials obscures that EE's earnings are driven by LNG throughput and contract timing rather than rate-base growth. A P/E built on a volatile net margin of 4.8% does not capture the drag between operating and net income. An alternative anchored on EV/EBITDA of 4.80 combined with a normalized net-income view would better frame valuation while accounting for non-operating charges.