Latest Ratios: P/E Ratio 30.0x · EV/EBITDA 26.2x · ROE 16.9%. (2005–2025 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 | $10.2B | $10.3B | $7.7B | $6.4B | $5.4B | $4.8B | $4.1B | $2.5B | $2.0B | $1.1B | $1.1B |
| Enterprise Value | $13.9B | $13.9B | $9.2B | $7.8B | $6.6B | $5.8B | $4.9B | $3.8B | $2.2B | $1.4B | $1.3B |
| P/E Ratio → | 30.04 | 29.83 | 25.95 | 30.74 | 23.95 | 24.55 | 23.83 | 23.03 | 21.34 | 26.96 | 21.64 |
| P/S Ratio | 2.02 | 2.03 | 1.82 | 1.72 | 1.78 | 1.82 | 1.69 | 1.25 | 1.12 | 0.69 | 0.65 |
| P/B Ratio | 4.62 | 4.59 | 4.20 | 4.30 | 4.31 | 4.68 | 4.97 | 3.87 | 3.28 | 2.19 | 2.35 |
| P/FCF | 27.59 | 27.66 | 40.95 | 23.78 | 29.09 | 23.19 | 12.59 | 21.05 | 12.70 | 69.47 | 132.23 |
| P/OCF | 18.12 | 18.18 | 22.29 | 17.08 | 19.74 | 17.34 | 10.90 | 13.21 | 9.38 | 15.03 | 14.65 |
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 | — | 2.75 | 2.17 | 2.09 | 2.19 | 2.20 | 2.06 | 1.88 | 1.25 | 0.86 | 0.79 |
| EV / EBITDA | 26.20 | 26.26 | 20.90 | 23.78 | 18.48 | 18.27 | 17.81 | 21.24 | 16.84 | 15.60 | 10.03 |
| EV / EBIT | 32.63 | 30.00 | 23.45 | 27.75 | 22.27 | 21.83 | 21.79 | 29.03 | 25.14 | 30.52 | 14.08 |
| EV / FCF | — | 37.51 | 48.94 | 28.81 | 35.89 | 28.05 | 15.31 | 31.72 | 14.07 | 86.62 | 159.81 |
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 | 15.8% | 15.8% | 15.7% | 15.8% | 17.1% | 17.8% | 17.0% | 14.3% | 12.5% | 10.8% | 11.4% |
| Operating Margin | 8.4% | 8.4% | 8.4% | 6.8% | 9.8% | 9.9% | 9.3% | 6.3% | 4.8% | 2.7% | 5.6% |
| Net Profit Margin | 6.8% | 6.8% | 7.0% | 5.6% | 7.4% | 7.4% | 7.1% | 5.4% | 5.3% | 2.5% | 3.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.9% | 16.9% | 17.9% | 15.3% | 19.8% | 21.2% | 23.1% | 17.6% | 16.8% | 8.4% | 11.3% |
| ROA | 6.8% | 6.8% | 6.7% | 5.5% | 7.1% | 7.2% | 6.9% | 6.2% | 8.1% | 3.8% | 5.7% |
| ROIC | 6.9% | 6.9% | 8.7% | 7.1% | 9.8% | 10.5% | 9.2% | 7.0% | 8.0% | 4.4% | 11.8% |
| ROCE | 10.0% | 10.0% | 9.7% | 8.1% | 11.4% | 12.1% | 11.2% | 8.8% | 9.5% | 5.2% | 13.5% |
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 | 1.86 | 1.86 | 1.07 | 1.25 | 1.26 | 1.24 | 1.36 | 2.05 | 0.40 | 0.63 | 0.62 |
| Debt / EBITDA | 7.85 | 7.85 | 4.46 | 5.71 | 4.38 | 4.00 | 4.01 | 7.47 | 1.87 | 3.57 | 2.17 |
| Net Debt / Equity | — | 1.63 | 0.82 | 0.91 | 1.01 | 0.98 | 1.07 | 1.96 | 0.35 | 0.54 | 0.49 |
| Net Debt / EBITDA | 6.89 | 6.89 | 3.41 | 4.15 | 3.50 | 3.17 | 3.16 | 7.14 | 1.63 | 3.09 | 1.73 |
| Debt / FCF | — | 9.85 | 7.99 | 5.03 | 6.80 | 4.87 | 2.72 | 10.67 | 1.37 | 17.14 | 27.59 |
| Interest Coverage | 58.04 | 58.04 | 47.60 | 34.73 | 33.37 | 38.67 | 24.24 | 8.42 | 5.73 | 3.29 | 13.03 |
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 | 1.42 | 1.42 | 1.56 | 1.42 | 1.34 | 1.22 | 1.04 | 1.20 | 1.29 | 1.63 | 1.58 |
| Quick Ratio | 1.42 | 1.42 | 1.56 | 1.42 | 1.34 | 1.22 | 1.04 | 1.20 | 1.29 | 1.63 | 1.58 |
| Cash Ratio | 0.64 | 0.64 | 0.71 | 0.72 | 0.57 | 0.53 | 0.44 | 0.22 | 0.15 | 0.25 | 0.33 |
| Asset Turnover | — | 0.93 | 0.91 | 0.89 | 0.88 | 0.92 | 0.94 | 0.86 | 1.48 | 1.45 | 1.65 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 45.97 | 48.82 | 47.47 | 49.27 | 45.67 | 46.34 | 55.38 | 52.40 | 60.53 | 53.91 |
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 | 0.1% | 0.1% | 0.2% | 0.2% | 0.2% | 0.2% | 0.3% | 0.4% | 0.5% | 0.8% | 0.8% |
| Payout Ratio | 4.2% | 4.2% | 4.6% | 6.2% | 5.4% | 5.9% | 6.4% | 9.2% | 10.2% | 21.5% | 16.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.3% | 3.4% | 3.9% | 3.3% | 4.2% | 4.1% | 4.2% | 4.3% | 4.7% | 3.7% | 4.6% |
| FCF Yield | 3.6% | 3.6% | 2.4% | 4.2% | 3.4% | 4.3% | 7.9% | 4.8% | 7.9% | 1.4% | 0.8% |
| Buyback Yield | 0.2% | 0.2% | 0.0% | 0.0% | 0.6% | 0.2% | 0.6% | 0.3% | 0.1% | 0.7% | 2.8% |
| Total Shareholder Yield | 0.3% | 0.3% | 0.2% | 0.2% | 0.8% | 0.5% | 0.9% | 0.7% | 0.6% | 1.5% | 3.5% |
| Shares Outstanding | — | $59M | $58M | $57M | $57M | $57M | $56M | $56M | $54M | $53M | $52M |
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying ENSG stock.
The Ensign Group, Inc.'s current P/E ratio is 30.0x. The historical average is 18.9x. This places it at the 95th percentile of its historical range.
The Ensign Group, Inc.'s current EV/EBITDA is 26.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.6x.
The Ensign Group, Inc.'s return on equity (ROE) is 16.9%. The historical average is 20.3%.
Based on historical data, The Ensign Group, Inc. is trading at a P/E of 30.0x. This is at the 95th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The Ensign Group, Inc.'s current dividend yield is 0.14% with a payout ratio of 4.2%.
The Ensign Group, Inc. has 15.8% gross margin and 8.4% operating margin.
The Ensign Group, Inc.'s Debt/EBITDA ratio is 7.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Reimbursement and labor cost pressure
Metrics are mathematically derived from official filings.
Margin Resilience Amid Cost Pressures
Operating margin held at 8.5% in Q2 2026 despite revenue growth of 17.3%, per reported financials, indicating that top-line expansion is not yet translating into bottom-line gains.
Gross margin recovered to 16.6% in Q2 2026 from the anomalous 8.7% in Q4 2025, but the volatility suggests cost or revenue recognition timing issues. The stability of operating margin around 8.5% over the past year, despite accelerating revenue, implies that labor and supply cost inflation is absorbing the benefits of scale. Investors should monitor whether the raised guidance for the back half of the year materializes into margin expansion, as the current trajectory suggests limited operating leverage.
Capital Efficiency Stalls at Low Levels
ROIC has remained flat at approximately 2.1% over the last ten quarters, per reported data, suggesting that aggressive acquisition-driven asset growth is not yet generating incremental returns on invested capital.
Despite a 29.5% year-over-year increase in total assets, ROIC has not improved, indicating that new facilities are being integrated without immediate margin uplift. The low ROIC relative to peers like NHC (9.9%) may reflect the heavy real estate base and the early-stage turnaround of acquired assets. As Ensign continues its buy-and-build strategy, the market will likely reward only if ROIC begins to trend upward as these assets mature.
Working Capital Efficiency Stable but DSO High
DSO has improved modestly to 42 days in Q2 2026 from 47 days in Q4 2024, per financial statements, while DPO remains low at 9 days, indicating limited supplier leverage.
The cash conversion cycle is not calculable due to missing DIO data, but the combination of a 42-day DSO and a 9-day DPO suggests that Ensign is financing its operations largely through its own cash flow rather than supplier credit. The improvement in DSO is a positive sign for collections from government payers, but the low DPO may indicate a lack of negotiating power with suppliers. Asset turnover has remained constant at 0.25, reflecting the capital-intensive nature of the real estate holdings.
Leverage Normalizes After Temporary Spike
Debt-to-equity fell to 0.92 in Q2 2026 from a temporary spike of 1.86 in Q4 2025, per balance sheet data, while interest coverage remains strong at 70.15.
The spike in leverage in Q4 2025 appears to be a temporary financing event, likely related to acquisition activity, as it normalized within two quarters. Interest coverage of 70.15 is exceptionally high, indicating that debt service is not a concern. However, the D/EBITDA ratio of 14.62 in Q2 2026, though down from 27.42 in Q4 2025, is elevated relative to peers, suggesting that EBITDA is low relative to the debt load, which may be a function of the real estate-heavy model.
Liquidity Buffer Thins but Remains Adequate
Current ratio dipped to 1.21 in Q2 2026 from 1.56 in Q1 2026, per reported figures, as cash fell to $262.3M, but the buffer still covers short-term obligations.
The decline in the current ratio is driven by a reduction in cash, likely used for acquisitions or debt repayment, but the ratio remains above 1.0, indicating that current assets cover current liabilities. The quick ratio is identical to the current ratio, suggesting that inventory is not a significant component of current assets, which is typical for a service-based healthcare provider. Under a severe stress scenario, such as a sudden drop in occupancy or a reimbursement cut, the liquidity position could tighten, but the fortress balance sheet with low leverage provides a cushion.
EV/EBITDA Misleads on Real Estate Value
EV/EBITDA of 26.50, per current valuation multiples, is commonly misapplied to Ensign because it fails to capture the embedded value of the Standard Bearer real estate portfolio.
Analysts often compare Ensign's EV/EBITDA to pure-play operators like NHC, but this ignores the fact that a significant portion of Ensign's asset base is real estate, which should be valued on a cap rate basis or through a sum-of-the-parts analysis. The low debt/equity ratio and the potential for future spin-offs or sale-leaseback transactions suggest that the market may be undervaluing the real estate holdings. A more appropriate metric would be to separate the Skilled Services and Real Estate segments and apply a REIT-like multiple to the latter, or to use P/B as a cross-check given the tangible asset base.