Latest Ratios: P/E Ratio 15.2x · EV/EBITDA 11.3x · ROE 28.9%. (1996–2025 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 | $5.7B | $6.0B | $7.5B | $9.5B | $5.4B | $5.3B | $5.6B | $2.5B | $4.0B | $5.0B | $4.7B |
| Enterprise Value | $7.2B | $7.5B | $8.7B | $10.6B | $6.5B | $6.2B | $6.4B | $4.0B | $4.6B | $5.6B | $5.4B |
| P/E Ratio → | 15.19 | 14.44 | 16.12 | 19.97 | 11.78 | 14.04 | 17.04 | 34.77 | 57.35 | 19.52 | 23.69 |
| P/S Ratio | 2.44 | 2.58 | 3.30 | 4.22 | 2.53 | 2.82 | 3.46 | 1.70 | 2.84 | 3.62 | 3.88 |
| P/B Ratio | 3.97 | 4.04 | 5.13 | 7.29 | 4.59 | 4.63 | 4.14 | 2.55 | 3.27 | 3.54 | 3.90 |
| P/FCF | 36.70 | 30.21 | 21.14 | 21.50 | 12.60 | 11.86 | 9.54 | 9.25 | 21.81 | 24.37 | 17.10 |
| P/OCF | 9.29 | 9.71 | 13.61 | 16.91 | 10.04 | 10.16 | 8.74 | 6.19 | 11.29 | 14.85 | 14.17 |
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 | — | 3.23 | 3.86 | 4.70 | 3.05 | 3.34 | 3.95 | 2.73 | 3.33 | 4.06 | 4.44 |
| EV / EBITDA | 11.30 | 10.28 | 11.51 | 13.70 | 9.03 | 10.32 | 13.13 | 10.15 | 11.27 | 13.67 | 15.15 |
| EV / EBIT | 12.85 | 12.45 | 13.76 | 16.07 | 10.48 | 12.27 | 13.67 | 13.48 | 42.87 | 18.77 | 16.95 |
| EV / FCF | — | 37.80 | 24.69 | 23.95 | 15.16 | 14.01 | 10.88 | 14.84 | 25.57 | 27.34 | 19.58 |
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 | 28.3% | 28.3% | 29.8% | 30.3% | 29.8% | 27.9% | 25.2% | 22.8% | 23.4% | 24.4% | 25.8% |
| Operating Margin | 24.3% | 24.3% | 26.5% | 27.7% | 27.3% | 25.4% | 22.1% | 19.1% | 20.8% | 21.5% | 21.7% |
| Net Profit Margin | 18.4% | 18.4% | 20.5% | 21.1% | 21.5% | 20.1% | 20.9% | 4.9% | 4.9% | 18.5% | 16.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 28.9% | 28.9% | 33.5% | 38.3% | 39.8% | 30.0% | 29.2% | 6.5% | 5.2% | 19.6% | 17.7% |
| ROA | 11.9% | 11.9% | 14.9% | 16.7% | 17.2% | 13.8% | 11.7% | 2.8% | 3.0% | 11.1% | 9.6% |
| ROIC | 14.8% | 14.8% | 17.6% | 20.0% | 20.1% | 16.8% | 11.7% | 9.5% | 11.1% | 11.4% | 11.5% |
| ROCE | 17.0% | 17.0% | 20.9% | 23.7% | 23.7% | 18.8% | 13.1% | 11.6% | 13.8% | 14.1% | 13.9% |
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 | 1.22 | 1.22 | 0.88 | 0.86 | 0.94 | 0.86 | 0.77 | 1.67 | 0.57 | 0.44 | 0.57 |
| Debt / EBITDA | 2.48 | 2.48 | 1.68 | 1.44 | 1.55 | 1.62 | 2.15 | 4.13 | 1.68 | 1.51 | 1.93 |
| Net Debt / Equity | — | 1.02 | 0.86 | 0.83 | 0.93 | 0.84 | 0.58 | 1.55 | 0.56 | 0.43 | 0.56 |
| Net Debt / EBITDA | 2.07 | 2.07 | 1.66 | 1.40 | 1.53 | 1.59 | 1.61 | 3.83 | 1.66 | 1.49 | 1.92 |
| Debt / FCF | — | 7.59 | 3.55 | 2.45 | 2.56 | 2.16 | 1.33 | 5.60 | 3.76 | 2.97 | 2.48 |
| Interest Coverage | 10.16 | 10.16 | 15.00 | 15.27 | 17.54 | 16.37 | 10.55 | 7.66 | 3.81 | 10.84 | 14.02 |
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 | 3.66 | 3.66 | 2.73 | 2.62 | 2.45 | 2.13 | 3.91 | 4.00 | 2.38 | 2.56 | 1.75 |
| Quick Ratio | 2.09 | 2.09 | 1.03 | 1.06 | 1.08 | 0.99 | 2.52 | 2.39 | 0.85 | 1.12 | 0.64 |
| Cash Ratio | 1.15 | 1.15 | 0.08 | 0.15 | 0.07 | 0.09 | 1.56 | 0.70 | 0.05 | 0.05 | 0.03 |
| Asset Turnover | — | 0.60 | 0.69 | 0.77 | 0.77 | 0.72 | 0.57 | 0.49 | 0.64 | 0.59 | 0.54 |
| Inventory Turnover | 4.06 | 4.06 | 3.82 | 4.21 | 5.17 | 5.67 | 5.15 | 4.11 | 3.88 | 4.06 | 3.56 |
| Days Sales Outstanding | — | 37.33 | 35.90 | 34.39 | 35.91 | 35.98 | 33.73 | 68.99 | 35.16 | 38.81 | 41.08 |
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 | 0.6% | 0.5% | 0.5% | 0.4% | 0.7% | 0.6% | 0.1% | 0.7% | 0.5% | 0.4% | 0.4% |
| Payout Ratio | 7.6% | 7.6% | 7.3% | 7.4% | 8.1% | 8.2% | 1.2% | 24.2% | 27.5% | 7.6% | 9.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.6% | 6.9% | 6.2% | 5.0% | 8.5% | 7.1% | 5.9% | 2.9% | 1.7% | 5.1% | 4.2% |
| FCF Yield | 2.7% | 3.3% | 4.7% | 4.7% | 7.9% | 8.4% | 10.5% | 10.8% | 4.6% | 4.1% | 5.8% |
| Buyback Yield | 6.8% | 6.5% | 4.1% | 3.7% | 7.2% | 11.3% | 0.1% | 12.9% | 7.0% | 1.3% | 1.4% |
| Total Shareholder Yield | 7.4% | 7.1% | 4.5% | 4.1% | 7.9% | 11.9% | 0.1% | 13.6% | 7.5% | 1.7% | 1.8% |
| Shares Outstanding | — | $31M | $34M | $35M | $37M | $41M | $42M | $42M | $47M | $49M | $48M |
Includes 30+ ratios · 30 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 EXP stock.
Eagle Materials Inc.'s current P/E ratio is 15.2x. The historical average is 25.3x. This places it at the 37th percentile of its historical range.
Eagle Materials Inc.'s current EV/EBITDA is 11.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.2x.
Eagle Materials Inc.'s return on equity (ROE) is 28.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 20.3%.
Based on historical data, Eagle Materials Inc. is trading at a P/E of 15.2x. This is at the 37th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Eagle Materials Inc.'s current dividend yield is 0.55% with a payout ratio of 7.6%.
Eagle Materials Inc. has 28.3% gross margin and 24.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Eagle Materials Inc.'s Debt/EBITDA ratio is 2.5x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Margin compression under input inflation
Metrics are mathematically derived from official filings.
Discount Multiple Reflects Cyclical Wallboard Exposure
Based on EXP's reported figures, the 15.19 trailing P/E and 11.30 EV/EBITDA sit below Vulcan's 33.19 and 18.30, suggesting the market prices the company as a hybrid building products name rather than a pure infrastructure aggregates platform.
The discount to Martin Marietta and Vulcan on EV/EBITDA is wide enough to suggest investors are capitalizing wallboard earnings at a cyclical multiple. The forward P/E of 14.40 implies only modest expected earnings growth, which is consistent with the 2.1% year-over-year revenue growth in the latest quarter. Investors should monitor whether the PEG of 1.42 compresses if housing volumes soften further.
Gross Margin Retreats From Cycle Peak
As reported in financial statements, gross margin fell from 32.7% in 2024Q2 to 26.8% in 2026Q2, while operating margin compressed from 29.8% to 22.6%, indicating that cost inflation is outpacing pricing gains.
The roughly six-point decline in gross margin from peak suggests input cost pressure, including diesel and energy, is not yet fully passed through to customers. Operating margin has compressed by a similar magnitude, implying limited incremental operating leverage on flat revenue. Net margin of 17.1% remains strong in absolute terms, but the trajectory warrants monitoring for further erosion.
Debt Step-Up Lifts Coverage Sensitivity
Based on EXP's reported figures, debt-to-equity rose from 0.70 in 2024Q3 to 1.22 in 2025Q4 before easing to 1.15, while debt-to-EBITDA reached 14.82 in 2025Q4, indicating a materially higher reliance on external capital.
The increase in leverage appears to have been driven by debt issuance rather than equity erosion, since total equity remained near $1.5B throughout. Interest coverage has been volatile, dipping to single digits in 2026Q1 and 2026Q2 before recovering, which suggests debt service comfort is tighter than the headline debt-to-equity ratio implies. Refinancing exposure should be assessed against the current debt maturity profile, which is not fully disclosed in the supplied data.
Working Capital Cycle Lengthens Under Strain
According to recent SEC filings, the cash conversion cycle expanded from 82 days in 2026Q2 to 107 days in 2025Q4 driven by a sharp rise in DPO-offset and inventory days, suggesting working capital absorbed cash in late 2025.
Receivable days have stayed relatively stable near 37 to 43 days, so the swings appear concentrated in inventory and payables timing. The swing in the cash conversion cycle appears to correlate with the negative free cash flow margin recorded in 2025Q4. Investors should treat quarter-to-quarter working capital volatility as a timing effect until sustained trends confirm otherwise.
Headline Liquidity Ratios May Overstate Cushion
Investors may question whether the current ratio of 3.29 in 2026Q2 reflects durable liquidity, since cash swung from $419.0M in 2025Q3 to $35.0M in 2025Q2 within a single year despite the ratio staying above 2.3.
A current ratio above three appears comfortable on the surface, but the cash position has been highly volatile across the ten quarters. Quick ratio has ranged from roughly 1.0 to 2.7, indicating that receivables and inventory dependence varies materially. Under a severe demand shock, the reliance on inventory and receivables conversion could pressure short-term liquidity more than the headline ratio suggests.