Gates Industrial Corporation plc (GTES) Financial Ratios
14 years of historical data (2012–2025) · Industrials · Industrial - Machinery
EV/EBITDA
↑
11.29
↑+21% vs avg
5yr avg: 9.36
30Y Low8.1·High14.1
P/FCF
↓
16.50
+9% vs avg
5yr avg: 15.11
30Y Low9.0·High29.5
P/B Ratio
↑
1.85
↑+43% vs avg
5yr avg: 1.30
30Y Low1.0·High1.7
ROE
↓
7.2%
↓+3% vs avg
5yr avg: 7.0%
30Y Low-2%·High26%
Debt/EBITDA
↓
3.38
↓-10% vs avg
5yr avg: 3.78
30Y Low3.1·High8.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
GTES Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Gates Industrial Corporation plc trades at 27.3x earnings, 41% above its 5-year average of 19.4x, sitting at the 75th percentile of its historical range. Compared to the Industrials sector median P/E of 25.9x, the stock trades at a premium of 6%. On a free-cash-flow basis, the stock trades at 16.5x P/FCF, 9% above the 5-year average of 15.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.7B | $5.6B | $5.4B | $3.7B | $3.3B | $4.7B | $3.7B | $4.0B | $3.9B | — | — |
| Enterprise Value | $8.4B | $7.3B | $7.2B | $5.5B | $5.3B | $6.8B | $6.0B | $6.5B | $6.4B | — | — |
| P/E Ratio → | 27.33 | 22.36 | 27.93 | 15.79 | 14.82 | 15.91 | 47.26 | 5.81 | 15.76 | — | — |
| P/S Ratio | 1.94 | 1.62 | 1.60 | 1.04 | 0.92 | 1.36 | 1.33 | 1.30 | 1.15 | — | — |
| P/B Ratio | 1.85 | 1.52 | 1.63 | 1.04 | 0.95 | 1.36 | 1.17 | 1.33 | 1.65 | — | — |
| P/FCF | 16.50 | 13.81 | 18.36 | 9.03 | 18.35 | 16.01 | 15.43 | 15.10 | 29.53 | — | — |
| P/OCF | 13.97 | 11.70 | 14.34 | 7.69 | 12.35 | 12.37 | 12.06 | 11.50 | 12.32 | — | — |
P/E links to full P/E history page with 30-year chart
GTES EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Gates Industrial Corporation plc's enterprise value stands at 11.3x EBITDA, 21% above its 5-year average of 9.4x. The Industrials sector median is 13.9x, placing the stock at a 19% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.12 | 2.12 | 1.55 | 1.49 | 1.95 | 2.17 | 2.10 | 1.92 | — | — |
| EV / EBITDA | 11.29 | 9.83 | 10.41 | 8.15 | 8.83 | 9.59 | 14.08 | 11.38 | 9.01 | — | — |
| EV / EBIT | 15.86 | 13.80 | 15.72 | 12.61 | 13.37 | 14.02 | 26.85 | 18.15 | 13.44 | — | — |
| EV / FCF | — | 18.01 | 24.42 | 13.53 | 29.71 | 22.93 | 25.03 | 24.35 | 49.26 | — | — |
GTES Profitability
Margins and return-on-capital ratios measuring operating efficiency
Gates Industrial Corporation plc earns an operating margin of 15.3%, above the Industrials sector average of 4.9%. Operating margins have expanded from 13.0% to 15.3% over the past 3 years, signaling improving operational efficiency. ROE of 7.2% is modest, trailing the sector median of 8.2%. ROIC of 7.5% represents adequate returns on invested capital versus a sector median of 6.3%.
Margins
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 | 40.5% | 40.5% | 39.9% | 38.1% | 35.2% | 38.5% | 37.0% | 37.0% | 39.7% | 40.0% | 38.6% |
| Operating Margin | 15.3% | 15.3% | 14.0% | 13.0% | 10.8% | 13.9% | 7.6% | 11.2% | 14.8% | 13.2% | 11.1% |
| Net Profit Margin | 7.3% | 7.3% | 5.7% | 6.5% | 6.2% | 8.6% | 2.8% | 22.4% | 7.3% | 5.0% | 2.1% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.2% | 7.2% | 5.7% | 6.7% | 6.4% | 8.9% | 2.6% | 25.8% | 13.0% | 12.1% | 5.1% |
| ROA | 3.6% | 3.6% | 2.8% | 3.2% | 3.0% | 4.0% | 1.1% | 9.8% | 3.6% | 2.3% | 0.9% |
| ROIC | 7.5% | 7.5% | 6.8% | 6.4% | 5.2% | 6.6% | 2.9% | 5.0% | 7.7% | 6.6% | 5.0% |
| ROCE | 8.5% | 8.5% | 7.6% | 7.2% | 5.9% | 7.2% | 3.1% | 5.4% | 8.1% | 6.7% | 5.2% |
GTES Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Gates Industrial Corporation plc carries a Debt/EBITDA ratio of 3.4x, which is moderately leveraged (7% above the sector average of 3.2x). Net debt stands at $1.7B ($2.5B total debt minus $812M cash). Interest coverage of 3.5x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.68 | 0.68 | 0.74 | 0.72 | 0.76 | 0.78 | 0.89 | 1.03 | 1.29 | 2.77 | 3.59 |
| Debt / EBITDA | 3.38 | 3.38 | 3.56 | 3.77 | 4.34 | 3.83 | 6.62 | 5.44 | 4.20 | 6.43 | 7.03 |
| Net Debt / Equity | — | 0.46 | 0.54 | 0.52 | 0.59 | 0.59 | 0.73 | 0.82 | 1.11 | 2.37 | 3.10 |
| Net Debt / EBITDA | 2.29 | 2.29 | 2.58 | 2.71 | 3.38 | 2.89 | 5.40 | 4.32 | 3.61 | 5.51 | 6.06 |
| Debt / FCF | — | 4.19 | 6.06 | 4.50 | 11.35 | 6.92 | 9.61 | 9.26 | 19.74 | 16.76 | 10.91 |
| Interest Coverage | 3.55 | 3.55 | 2.70 | 2.53 | 2.74 | 3.57 | 1.43 | 2.15 | 2.40 | 1.47 | 1.43 |
GTES Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Gates Industrial Corporation plc's current ratio of 3.37x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 2.42x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 3.08x to 3.37x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.37 | 3.37 | 3.20 | 3.08 | 3.03 | 2.66 | 2.63 | 2.98 | 2.67 | 2.62 | 2.80 |
| Quick Ratio | 2.42 | 2.42 | 2.26 | 2.25 | 2.15 | 1.86 | 1.93 | 2.25 | 1.88 | 1.96 | 2.17 |
| Cash Ratio | 1.10 | 1.10 | 0.95 | 0.92 | 0.77 | 0.77 | 0.72 | 0.97 | 0.62 | 0.81 | 0.91 |
| Asset Turnover | — | 0.48 | 0.50 | 0.49 | 0.49 | 0.46 | 0.38 | 0.42 | 0.50 | 0.44 | 0.43 |
| Inventory Turnover | 2.93 | 2.93 | 3.03 | 3.42 | 3.51 | 3.13 | 3.46 | 4.09 | 3.75 | 3.99 | 4.60 |
| Days Sales Outstanding | — | 78.89 | 80.46 | 81.64 | 84.37 | 76.40 | 94.56 | 84.75 | 81.72 | 85.66 | 87.62 |
GTES Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Gates Industrial Corporation plc returns 1.8% to shareholders annually primarily through share buybacks. The earnings yield of 3.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| 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% | 4.5% | 3.6% | 6.3% | 6.7% | 6.3% | 2.1% | 17.2% | 6.3% | — | — |
| FCF Yield | 6.1% | 7.2% | 5.4% | 11.1% | 5.4% | 6.2% | 6.5% | 6.6% | 3.4% | — | — |
| Buyback Yield | 1.8% | 2.1% | 3.2% | 6.8% | 5.4% | 0.2% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 1.8% | 2.1% | 3.2% | 6.8% | 5.4% | 0.2% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $261M | $263M | $276M | $288M | $297M | $292M | $292M | $292M | $284M | $284M |
Peer Comparison
Compare GTES with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 GTESYou | $7B | 27.3 | 11.3 | 16.5 | 40.5% | 15.3% | 7.2% | 7.5% | 3.4 |
 GT | $2B | -1.2 | 5.0 | — | 18.4% | 3.6% | -41.4% | 4.3% | 4.3 |
 ASTE | $1B | 31.9 | 14.5 | 57.1 | 26.5% | 4.6% | 5.9% | 6.2% | 3.1 |
 WMS | $13B | 25.8 | 16.2 | 34.3 | 37.7% | 22.6% | 30.9% | 20.7% | 1.7 |
 TREX | $4B | 22.4 | 13.9 | 31.6 | 39.2% | 22.0% | 20.2% | 16.4% | 0.7 |
 PH | $114B | 33.3 | 24.8 | 34.1 | 36.9% | 20.5% | 27.4% | 13.4% | 1.9 |
 ITT | $19B | 35.5 | 22.4 | 35.4 | 35.4% | 17.4% | 14.2% | 16.1% | 1.1 |
 RBC | $20B | 80.9 | 43.6 | 83.6 | 44.4% | 22.6% | 8.5% | 6.9% | 2.1 |
 AIXI | $8M | -0.5 | — | — | 68.3% | -18.3% | — | -34.4% | — |
 ESAB | $6B | 27.3 | 12.9 | 29.0 | 35.5% | 17.3% | 11.3% | 11.9% | 2.5 |
 DNOW | $1B | -18.0 | — | — | 17.0% | -2.9% | -5.3% | -3.3% | — |
| Industrials Median | — | 25.9 | 13.9 | 20.6 | 32.8% | 4.9% | 8.2% | 6.3% | 3.2 |
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Start ComparisonGTES — Frequently Asked Questions
Quick answers to the most common questions about buying GTES stock.
What is Gates Industrial Corporation plc's P/E ratio?
Gates Industrial Corporation plc's current P/E ratio is 27.3x. The historical average is 20.7x. This places it at the 75th percentile of its historical range.
What is Gates Industrial Corporation plc's EV/EBITDA?
Gates Industrial Corporation plc'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 10.2x.
What is Gates Industrial Corporation plc's ROE?
Gates Industrial Corporation plc's return on equity (ROE) is 7.2%. The historical average is 7.6%.
Is GTES stock overvalued?
Based on historical data, Gates Industrial Corporation plc is trading at a P/E of 27.3x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Gates Industrial Corporation plc's profit margins?
Gates Industrial Corporation plc has 40.5% gross margin and 15.3% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Gates Industrial Corporation plc have?
Gates Industrial Corporation plc's Debt/EBITDA ratio is 3.4x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.