Latest Ratios: P/E Ratio 97.5x · EV/EBITDA 20.2x · ROE 6.2%. (1998–2025 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 | $23.0B | $12.8B | $15.0B | $18.1B | $9.4B | $18.9B | $13.1B | $6.8B | $4.0B | $4.4B | $2.5B |
| Enterprise Value | $26.6B | $16.4B | $18.8B | $22.3B | $14.7B | $19.5B | $13.6B | $7.5B | $4.4B | $4.4B | $2.7B |
| P/E Ratio → | 97.49 | 54.35 | 51.33 | 99.85 | 44.92 | 46.19 | 44.49 | 26.79 | 16.51 | 51.61 | 26.32 |
| P/S Ratio | 7.21 | 4.01 | 4.64 | 5.13 | 2.86 | 8.23 | 7.04 | 4.30 | 2.57 | 3.26 | 2.16 |
| P/B Ratio | 5.82 | 3.24 | 4.07 | 5.31 | 2.92 | 11.04 | 9.49 | 5.87 | 3.93 | 4.40 | 2.83 |
| P/FCF | 58.16 | 32.36 | 47.58 | 96.39 | — | 99.70 | 41.58 | 25.34 | 19.66 | 21.88 | 17.87 |
| P/OCF | 33.14 | 18.44 | 23.81 | 28.06 | 25.86 | 47.26 | 29.32 | 17.89 | 12.73 | 14.90 | 12.25 |
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 | — | 5.12 | 5.79 | 6.33 | 4.48 | 8.50 | 7.34 | 4.70 | 2.86 | 3.29 | 2.32 |
| EV / EBITDA | 20.24 | 12.46 | 20.59 | 25.15 | 19.35 | 28.31 | 25.66 | 19.65 | 10.56 | 12.84 | 10.65 |
| EV / EBIT | 28.78 | 35.99 | 34.96 | 45.95 | 31.95 | 37.54 | 33.88 | 20.49 | 15.37 | 20.36 | 17.35 |
| EV / FCF | — | 41.28 | 59.41 | 118.80 | — | 102.89 | 43.34 | 27.71 | 21.91 | 22.12 | 19.12 |
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 | 44.4% | 44.4% | 45.9% | 42.5% | 42.5% | 46.1% | 45.7% | 44.7% | 46.4% | 45.4% | 43.3% |
| Operating Margin | 28.9% | 28.9% | 16.5% | 14.2% | 14.6% | 24.0% | 21.3% | 15.0% | 18.9% | 18.0% | 13.2% |
| Net Profit Margin | 7.4% | 7.4% | 9.0% | 5.1% | 6.4% | 17.8% | 15.9% | 16.0% | 15.5% | 6.3% | 8.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.2% | 6.2% | 8.2% | 5.5% | 8.5% | 26.5% | 23.2% | 23.4% | 24.0% | 9.0% | 11.4% |
| ROA | 2.8% | 2.8% | 3.4% | 1.9% | 3.1% | 13.4% | 10.9% | 10.5% | 11.2% | 4.6% | 5.8% |
| ROIC | 9.3% | 9.3% | 5.3% | 4.6% | 6.6% | 19.5% | 15.9% | 11.0% | 17.5% | 17.1% | 10.6% |
| ROCE | 11.7% | 11.7% | 6.6% | 5.6% | 7.9% | 20.3% | 16.3% | 11.1% | 15.7% | 15.5% | 10.7% |
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 | 0.98 | 0.98 | 1.10 | 1.37 | 1.82 | 0.59 | 0.82 | 0.85 | 0.93 | 0.68 | 0.65 |
| Debt / EBITDA | 2.96 | 2.96 | 4.46 | 5.26 | 7.72 | 1.46 | 2.13 | 2.60 | 2.24 | 1.96 | 2.29 |
| Net Debt / Equity | — | 0.89 | 1.01 | 1.23 | 1.65 | 0.35 | 0.40 | 0.55 | 0.45 | 0.05 | 0.20 |
| Net Debt / EBITDA | 2.69 | 2.69 | 4.10 | 4.74 | 6.98 | 0.88 | 1.04 | 1.68 | 1.09 | 0.14 | 0.70 |
| Debt / FCF | — | 8.92 | 11.83 | 22.40 | — | 3.19 | 1.76 | 2.37 | 2.26 | 0.25 | 1.25 |
| Interest Coverage | 2.27 | 2.27 | 2.50 | 1.55 | 2.16 | 12.62 | 8.29 | 7.77 | 8.46 | 6.71 | 4.29 |
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 | 3.35 | 3.35 | 3.08 | 3.85 | 3.06 | 3.47 | 4.08 | 3.53 | 3.82 | 3.63 | 3.06 |
| Quick Ratio | 3.35 | 3.35 | 1.86 | 2.67 | 2.00 | 2.21 | 3.01 | 2.44 | 2.82 | 2.95 | 2.36 |
| Cash Ratio | 0.74 | 0.74 | 0.63 | 0.89 | 0.74 | 1.06 | 1.92 | 1.33 | 1.79 | 2.15 | 1.55 |
| Asset Turnover | — | 0.38 | 0.39 | 0.40 | 0.32 | 0.72 | 0.64 | 0.63 | 0.67 | 0.68 | 0.69 |
| Inventory Turnover | 2762.28 | 2762.28 | 2.75 | 3.34 | 2.32 | 2.61 | 3.12 | 3.06 | 3.10 | 3.70 | 3.63 |
| Days Sales Outstanding | — | 52.38 | 60.24 | 47.34 | 59.55 | 55.16 | 51.90 | 53.77 | 52.27 | 49.87 | 51.45 |
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 | 0.3% | 0.5% | 0.4% | 0.3% | 0.6% | 0.2% | 0.3% | 0.6% | 1.0% | 0.2% | — |
| Payout Ratio | 25.8% | 25.8% | 20.7% | 33.3% | 27.4% | 10.6% | 14.7% | 15.9% | 16.4% | 11.6% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.0% | 1.8% | 1.9% | 1.0% | 2.2% | 2.2% | 2.2% | 3.7% | 6.1% | 1.9% | 3.8% |
| FCF Yield | 1.7% | 3.1% | 2.1% | 1.0% | — | 1.0% | 2.4% | 3.9% | 5.1% | 4.6% | 5.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.4% | 0.3% | 1.2% | 4.4% | 0.6% | 0.3% |
| Total Shareholder Yield | 0.3% | 0.5% | 0.4% | 0.3% | 0.9% | 0.6% | 0.7% | 1.8% | 5.4% | 0.9% | 0.3% |
| Shares Outstanding | — | $152M | $152M | $151M | $143M | $137M | $136M | $137M | $143M | $144M | $142M |
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying ENTG stock.
Entegris, Inc.'s current P/E ratio is 97.5x. The historical average is 36.4x. This places it at the 95th percentile of its historical range.
Entegris, Inc.'s current EV/EBITDA is 20.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 15.6x.
Entegris, Inc.'s return on equity (ROE) is 6.2%. The historical average is 7.5%.
Based on historical data, Entegris, Inc. is trading at a P/E of 97.5x. This is at the 95th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Entegris, Inc.'s current dividend yield is 0.26% with a payout ratio of 25.8%.
Entegris, Inc. has 44.4% gross margin and 28.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Entegris, Inc.'s Debt/EBITDA ratio is 3.0x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
High leverage and debt burden
Metrics are mathematically derived from official filings.
Premium Pricing on Cyclical Inflection
ENTG trades at 93.3x trailing earnings and 19.5x EV/EBITDA, a premium to peers like MKSI (28.2x EV/EBITDA), reflecting expectations of sustained recovery. According to the latest quarterly data, forward P/E of 39.4x implies robust earnings growth that may already be priced in.
The market is capitalizing on the recent EPS beat and semiconductor upcycle, but the valuation leaves little room for error. With TTM revenue still negative (-1.4%), the forward multiples assume a rapid return to double-digit growth. Investors should monitor whether the cyclical recovery is durable enough to justify the premium relative to more diversified peers like DuPont or Merck KGaA.
Margin Expansion Masks Amortization Drag
Gross margin improved to 47.6% in 2026Q2, up 750 bps from 2025Q1, while operating margin hit 18.6%, the highest in the period. As reported in financial statements, net margin of 10.6% remains suppressed by acquisition-related amortization, suggesting cash earnings are stronger than reported.
The gap between operating and net margins (18.6% vs 10.6%) highlights the significant non-cash charges from the CMC Materials acquisition. Adjusted EBITDA or FCF are better gauges of earning power. The margin expansion appears driven by mix shift and cost discipline, but sustainability depends on continued demand and successful integration of divestitures.
Returns Trapped by Acquisition Overhang
ROIC has remained below 2% for most of the past two years, with 2026Q2 at 1.7%, despite improving margins. Based on reported figures, this suggests the capital base from the CMC deal is not yet generating adequate returns, though the trend is improving.
ROE and ROA are similarly low (2.3% and 1.1% respectively), reflecting the heavy goodwill and intangible asset load. The company is generating operating leverage, but returns on capital are still depressed. As debt is paid down and earnings recover, ROIC may improve, but the pace will depend on whether the acquired assets can achieve the expected synergies.
Working Capital Drag Lengthens Cash Cycle
Cash conversion cycle extended to 144 days in 2026Q2, up from 150 days a year earlier, driven by high DIO of 132 days. According to the latest quarterly data, DSO improved to 56 days, but inventory levels remain elevated, tying up cash.
The high DIO reflects the need to stock specialty chemicals and materials, but it also signals potential obsolescence risk. DPO has increased to 44 days, providing some supplier financing, but not enough to offset the inventory build. Efficiency gains in working capital management could free up significant cash, especially as the company focuses on deleveraging.
Deleveraging Progress but Debt Still Heavy
Debt-to-equity improved to 0.86 in 2026Q2 from 1.24 in 2024Q1, and total debt fell to $3.6B. However, debt-to-EBITDA remains elevated at 22.7x on a quarterly annualized basis, and interest coverage of 3.4x is thin, according to the balance sheet data.
The company has made progress in reducing leverage, but the absolute debt load from the CMC acquisition still constrains financial flexibility. Interest coverage, while improved from 1.85x in 2024Q1, remains vulnerable to any earnings downturn. The recent divestitures may accelerate deleveraging, but the pace will be critical to watch.
Liquidity Buffer Comfortable but Reliance on Cash
Current ratio stands at 3.05 and quick ratio at 1.85, providing a solid liquidity cushion, with cash of $353.6M. As reported in the balance sheet, this buffer appears adequate for near-term obligations, but inventory dependence is notable.
The quick ratio, excluding inventory, is still above 1, indicating the company can cover current liabilities without relying on inventory sales. However, the high DIO suggests that inventory may not be easily convertible to cash if demand weakens. The liquidity position appears stable, but the company's ability to service debt under stress depends on sustained cash flow generation.
Premium Valuation vs. Specialty Peers
ENTG's EV/EBITDA of 19.5x is below MKSI's 28.2x but above ICHR and UCTT, while its ROE of 2.3% lags MKSI's 12.2%. According to peer data, the valuation premium may reflect its pure-play status on advanced node growth.
Compared to diversified peers like DuPont or Merck KGaA, ENTG trades at a premium, likely due to its direct exposure to leading-edge semiconductor materials. However, its returns are significantly lower than MKSI's, suggesting the market is pricing in future improvement. The gap may narrow if the company successfully deleverages and integrates acquisitions, but it also leaves room for downside if the recovery stalls.
Misapplied Metric: P/E on Depressed Earnings
The trailing P/E of 93.3x is misleading because it is based on earnings depressed by acquisition amortization and cyclical trough. As reported in financial statements, adjusted EBITDA or FCF yield provide a clearer picture of valuation.
Investors often use P/E for semiconductor companies, but for ENTG, the large non-cash amortization from the CMC deal distorts net income. A better approach is to use EV/EBITDA or P/FCF, which are less affected by accounting charges. The forward P/E of 39.4x is more reasonable but still assumes a sharp earnings recovery. Analysts should focus on cash-based metrics to assess true value.