Latest Ratios: P/E Ratio 59.4x · EV/EBITDA 6.2x · ROE 2.3%. (2002–2025 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 | $3.3B | $3.7B | $3.1B | $3.2B | $2.7B | $2.1B | $1.9B | $2.2B | $2.3B | $1.6B | $1.9B |
| Enterprise Value | $2.8B | $3.2B | $2.5B | $2.5B | $2.5B | $2.4B | $2.8B | $2.9B | $4.5B | $3.3B | $3.7B |
| P/E Ratio → | 59.39 | 16.72 | 10.28 | 41.75 | 4.45 | 2.30 | 2.54 | 4.31 | 19.42 | 1.91 | — |
| P/S Ratio | 0.48 | 0.59 | 0.43 | 0.43 | 0.37 | 0.27 | 0.24 | 0.29 | 0.30 | 0.21 | 0.23 |
| P/B Ratio | 0.37 | 0.38 | 0.33 | 0.38 | 0.32 | 0.13 | 0.12 | 0.15 | 0.16 | 0.10 | 0.13 |
| P/FCF | 7.52 | 11.43 | 34.90 | 5.31 | 2.58 | 4.77 | 0.87 | 1.08 | 1.43 | 0.61 | 1.03 |
| P/OCF | 10.19 | 11.43 | 34.90 | 5.31 | 2.58 | 4.77 | 0.99 | 1.08 | 1.43 | 0.61 | 1.03 |
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 | — | 0.51 | 0.36 | 0.34 | 0.34 | 0.32 | 0.34 | 0.37 | 0.57 | 0.43 | 0.44 |
| EV / EBITDA | 6.17 | 6.11 | 3.51 | 7.41 | 1.71 | 1.90 | 2.00 | 2.68 | 11.06 | 7.85 | 5.41 |
| EV / EBIT | 6.49 | 5.98 | 3.58 | 6.04 | 1.71 | 1.90 | 2.47 | 3.84 | 11.43 | 8.29 | 5.60 |
| EV / FCF | — | 9.83 | 28.88 | 4.26 | 2.40 | 5.52 | 1.25 | 1.39 | 2.75 | 1.28 | 1.99 |
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 | 24.3% | 24.3% | 7.8% | 4.1% | 18.6% | 13.8% | 12.8% | 9.8% | 4.8% | 5.2% | 7.8% |
| Operating Margin | 6.8% | 6.8% | 8.3% | 4.1% | 18.5% | 14.6% | 11.3% | 6.8% | 1.7% | 1.7% | 3.8% |
| Net Profit Margin | 3.5% | 3.5% | 4.2% | 1.0% | 12.4% | 11.2% | 2.2% | 4.5% | 1.5% | 10.9% | -3.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.3% | 2.3% | 3.4% | 0.9% | 7.4% | 5.3% | 1.2% | 2.4% | 0.8% | 5.5% | -1.9% |
| ROA | 0.3% | 0.3% | 0.3% | 0.1% | 1.0% | 0.8% | 0.2% | 0.3% | 0.1% | 0.8% | -0.3% |
| ROIC | 3.6% | 3.6% | 5.4% | 2.9% | 8.3% | 5.0% | 4.4% | 2.5% | 0.6% | 0.6% | 1.5% |
| ROCE | 0.6% | 0.6% | 0.7% | 0.3% | 1.4% | 1.1% | 0.9% | 0.5% | 0.8% | 0.7% | 1.7% |
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 | 0.15 | 0.15 | 0.16 | 0.19 | 0.19 | 0.12 | 0.22 | 0.27 | 0.31 | 0.30 | 0.32 |
| Debt / EBITDA | 2.88 | 2.88 | 2.09 | 4.62 | 1.10 | 1.49 | 2.45 | 3.69 | 10.68 | 11.02 | 6.71 |
| Net Debt / Equity | — | -0.05 | -0.06 | -0.08 | -0.02 | 0.02 | 0.05 | 0.04 | 0.15 | 0.11 | 0.12 |
| Net Debt / EBITDA | -0.99 | -0.99 | -0.73 | -1.84 | -0.13 | 0.26 | 0.61 | 0.60 | 5.32 | 4.09 | 2.62 |
| Debt / FCF | — | -1.60 | -6.02 | -1.06 | -0.18 | 0.75 | 0.38 | 0.31 | 1.32 | 0.67 | 0.96 |
| Interest Coverage | 5.12 | 5.12 | 6.17 | 3.57 | 13.88 | 7.95 | 5.76 | 3.26 | 1.54 | 1.48 | 1.95 |
Net cash position: cash ($2.0B) exceeds total debt ($1.5B)
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 | 1.91 | 1.91 | — | — | — | — | — | — | 0.03 | 0.03 | 0.03 |
| Quick Ratio | 1.91 | 1.91 | — | — | — | — | — | — | 0.03 | 0.03 | 0.03 |
| Cash Ratio | 0.58 | 0.58 | — | — | — | — | — | — | 0.74 | 0.76 | 0.73 |
| Asset Turnover | — | 0.07 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.07 | 0.08 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 0.7% | — | — | — | — | 3.9% | 4.2% | 6.9% | 7.3% |
| Payout Ratio | — | — | 7.0% | — | — | — | — | 25.4% | 81.5% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.7% | 6.0% | 9.7% | 2.4% | 22.5% | 43.5% | 39.4% | 23.2% | 5.2% | 52.4% | — |
| FCF Yield | 13.3% | 8.7% | 2.9% | 18.8% | 38.8% | 21.0% | 115.2% | 92.7% | 70.0% | 163.8% | 97.5% |
| Buyback Yield | 9.6% | 8.5% | 6.2% | 9.3% | 2.4% | 0.0% | 0.0% | 1.0% | 0.0% | 2.1% | 0.0% |
| Total Shareholder Yield | 9.6% | 8.5% | 6.8% | 9.3% | 2.4% | 0.0% | 0.0% | 4.9% | 4.2% | 9.0% | 7.3% |
| Shares Outstanding | — | $414M | $439M | $475M | $511M | $515M | $512M | $510M | $500M | $501M | $498M |
Includes 30+ ratios · 24 years · Updated daily
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Quick answers to the most common questions about buying GNW stock.
Genworth Financial, Inc.'s current P/E ratio is 59.4x. The historical average is 22.2x. This places it at the 88th percentile of its historical range.
Genworth Financial, Inc.'s current EV/EBITDA is 6.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.4x.
Genworth Financial, Inc.'s return on equity (ROE) is 2.3%. The historical average is 2.6%.
Based on historical data, Genworth Financial, Inc. is trading at a P/E of 59.4x. This is at the 88th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Genworth Financial, Inc. has 24.3% gross margin and 6.8% operating margin.
Genworth Financial, Inc.'s Debt/EBITDA ratio is 2.9x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Legacy LTC reserve re-measurement risk
Metrics are mathematically derived from official filings.
Deep Discount Reflects Legacy Liability Doubt
Based on reported figures, GNW trades at 0.37x book value against peers near 0.82x to 1.25x, a discount that appears to price in lingering long-term care reserve uncertainty rather than the Enact franchise alone.
A P/B of 0.37 implies the market assigns little value to reported equity of roughly $8.6B, which suggests skepticism about whether book value fully reflects long-tail LTC liabilities. The forward P/E of 7.89 against a trailing 16.11 suggests the market expects earnings to normalize, but with ROE of only 2.3%, the valuation discount appears warranted until underwriting profitability is demonstrated consistently. Investors should monitor whether the discount narrows as reserve re-measurements stabilize.
Combined Ratio Hovers Near Breakeven
As reported in the income statement, Genworth's combined ratio ranged from roughly 91% to 100% over ten quarters, with 2026Q3 reaching 100.1%, indicating thin underwriting margins sensitive to claims variation.
A combined ratio oscillating around 100% suggests underwriting profit is marginal and highly dependent on loss ratio timing, with the 2026Q3 loss ratio of 81.5% offset by an expense ratio of 18.5%. The swing from 71.0% loss ratio in 2026Q1 to 95.3% in 2025Q2 points to reserve development rather than a durable trend. Investors should treat the quarterly combined ratio as a noisy indicator until multi-quarter stability is established.
ROE Depends on Thin Underwriting Spread
Based on reported figures, Genworth's ROE of 2.3% and underwriting margin of -0.1% in 2026Q3 suggest returns are not yet covering the equity base, with investment income contribution unverifiable from supplied data.
With underwriting margin near zero, ROE appears to rely heavily on investment income on float, yet the supplied data does not isolate that component, limiting decomposition. Quarterly ROE ranging from roughly 0.0% to 1.2% indicates that returns on the equity base are structurally low. Investors should watch whether improved combined ratios translate into higher ROE or whether capital drag persists.
Holding Company Leverage Light, Subsidiary Capital Opaque
According to reported figures, the debt-to-equity ratio of 0.15% indicates minimal holding company leverage, while premium-to-surplus and statutory capital at insurance subsidiaries cannot be verified from the supplied data.
The low D/E suggests the parent carries little debt, which may provide flexibility, but this metric does not capture the regulatory capital position of the insurance subsidiaries that govern underwriting capacity. Interest coverage swinging from 0.96 to 7.07 indicates earnings-based debt service is volatile. Warrants further investigation into statutory surplus and premium leverage before drawing firm conclusions on underwriting capacity.
Discount to Peers Persists Despite Earnings Recovery
As reported in peer multiples, GNW's 0.37x P/B and 2.3% ROE lag mortgage insurance peers such as MTG at 1.25x P/B and 13.9% ROE, a gap that appears driven by legacy life exposure rather than mortgage operations.
The peer gap is wide on both valuation and returns, suggesting the market separates Enact's franchise quality from the U.S. Life block and applies a conglomerate discount. Peers with clean mortgage-only profiles show net margins above 45%, while GNW's 3.5% net margin reflects the drag from legacy blocks. Investors should assess whether a sum-of-the-parts framing could justify narrowing the discount.
Combined Ratio Obscures Reserve Development Risk
The combined ratio is most commonly misapplied to GNW because quarterly figures in the 91% to 100% range may reflect reserve timing on long-tail LTC liabilities rather than durable underwriting improvement, and it does not capture re-measurement risk.
A low combined ratio in quarters such as 2026Q1 at 93.6% can look like underwriting progress, yet LTC claims development can reverse these gains in later periods. Alternative measures such as multi-year reserve development, loss ratio trends on a cohort basis, and adjusted book value after reserve re-measurement would better reflect economic performance. Analysts should treat single-quarter combined ratios with caution and emphasize trailing cohort-level data.