Latest Ratios: P/E Ratio 26.9x · EV/EBITDA 22.6x · 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 | $10.6B | $10.3B | $7.7B | $6.4B | $5.4B | $4.8B | $4.1B | $2.5B | $2.0B | $1.1B | $1.1B |
| Enterprise Value | $14.2B | $13.9B | $9.2B | $7.8B | $6.6B | $5.8B | $4.9B | $3.8B | $2.2B | $1.4B | $1.3B |
| P/E Ratio → | 26.91 | 29.83 | 25.95 | 30.74 | 23.95 | 24.55 | 23.83 | 23.03 | 21.34 | 26.96 | 21.64 |
| P/S Ratio | 1.86 | 2.03 | 1.82 | 1.72 | 1.78 | 1.82 | 1.69 | 1.25 | 1.12 | 0.69 | 0.65 |
| P/B Ratio | 4.77 | 4.59 | 4.20 | 4.30 | 4.31 | 4.68 | 4.97 | 3.87 | 3.28 | 2.19 | 2.35 |
| P/FCF | 20.70 | 27.66 | 40.95 | 23.78 | 29.09 | 23.19 | 12.59 | 21.05 | 12.70 | 69.47 | 132.23 |
| P/OCF | 18.70 | 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 | 22.56 | 26.26 | 20.90 | 23.78 | 18.48 | 18.27 | 17.81 | 21.24 | 16.84 | 15.60 | 10.03 |
| EV / EBIT | 33.40 | 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 | 3.7% | 3.4% | 3.9% | 3.3% | 4.2% | 4.1% | 4.2% | 4.3% | 4.7% | 3.7% | 4.6% |
| FCF Yield | 4.8% | 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
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 ENSG stock.
The Ensign Group, Inc.'s current P/E ratio is 26.9x. The historical average is 18.9x. This places it at the 84th percentile of its historical range.
The Ensign Group, Inc.'s current EV/EBITDA is 22.6x. 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 26.9x. This is at the 84th 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.
Premium Multiples Pricing In Continued Growth
Based on the supplied valuation data, ENSG trades at 31.23 trailing P/E and 26.96 EV/EBITDA, well above the 27.07 P/E and 18.58 EV/EBITDA of National HealthCare, implying the market is paying a clear premium for growth and acquisition execution.
The forward P/E of 22.99 compresses meaningfully from the trailing multiple, suggesting the market expects earnings to rise, but the PEG of 2.26 indicates the growth priced in is demanding relative to reported expansion. Investors should recognize that the premium likely reflects the buy-and-build track record and real estate optionality rather than the thin 7.0% net margin alone, which warrants further scrutiny of whether forward estimates are achievable under current reimbursement conditions.
Thin Margins Limit Earnings Cushion
As reported in the quarterly income statements, ENSG's gross margin held between 16.4% and 16.9% across recent quarters, while net margin reached 7.0% in 2026Q3, leaving limited room for error if wage inflation outpaces government reimbursement.
The gap between the 16.9% gross margin and the 39.3% reported by National HealthCare reflects the labor-intensive cost structure of skilled nursing, which constrains how much operating leverage can be extracted. The 2025Q4 gross margin drop to 8.7% appears to be an outlier that may indicate one-time charges or reclassification effects, and investors should monitor whether similar compression recurs given the Q2 2026 EPS miss.
Return Metrics Stagnating Near Low Levels
Based on the reported quarterly ratios, ENSG's ROIC has ranged between 1.9% and 2.3% over the ten quarters shown, while ROE held near 4.0% to 4.6%, suggesting the expanding asset base is not yet generating compounding returns.
The flat-to-slightly-declining ROIC alongside a growing PP&E base suggests incremental capital is being deployed at returns comparable to or below the existing portfolio. This pattern may indicate that acquisition-driven growth is diluting returns in the near term, and investors should watch whether margin recovery or asset utilization gains lift ROIC toward the levels implied by the premium valuation.
Leverage Spike Reversed by Late 2026
According to reported figures, ENSG's debt-to-equity ratio climbed to 1.86 in 2025Q4 before falling to 0.89 in 2026Q3, while interest coverage recovered to 62.3x, indicating debt service capacity remains comfortable even after the temporary spike.
The sharp Q4 2025 leverage increase followed by rapid reduction suggests a short-term borrowing event rather than a sustained shift in capital structure, though the nature and timing of that debt warrant further investigation. Debt-to-EBITDA of 13.41x in the latest quarter is elevated on its face, which may indicate that covenant or refinancing sensitivity deserves closer monitoring despite strong interest coverage.
Adequate Liquidity With Limited Buffer
As reported in the balance sheet data, ENSG's current ratio has stayed between 1.20 and 1.56 across ten quarters, with cash ranging from $265M to $540M, indicating short-term obligations are covered without a large cushion.
The current ratio drifting down to 1.20 in 2026Q3 from above 1.5 earlier in the period suggests working capital is tightening modestly, which is consistent with the lumpy cash flow pattern observed in recent quarters. Under severe stress, a sudden payer rate cut or staffing cost shock could compress this buffer quickly, so investors should monitor whether cash balances stabilize at current levels.
Misapplied Margin Metric Obscures Real Risk
Based on reported figures, the 13.41x debt-to-EBITDA and 26.96x EV/EBITDA multiples may appear more comfortable than they are, since EBITDA for a labor-heavy skilled nursing operator can overstate cash available for lease and debt obligations.
Skilled nursing operators carry substantial facility leases and labor commitments that sit below EBITDA, so using EBITDA-based leverage and valuation ratios may flatter the balance sheet relative to lease-adjusted measures. An analyst should instead evaluate EBITDAR (EBITDA before rent) and lease-adjusted leverage, which better captures the fixed obligations inherent to this model, and investors should treat the reported EBITDA-based ratios as directional rather than definitive.