Latest Ratios: P/E Ratio 14.8x · EV/EBITDA 8.0x · ROE 6.8%. (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 | $233M | $295M | $263M | $639M | $477M | $207M | $47M | $42M | $38M | $260M | $284M |
| Enterprise Value | $197M | $258M | $199M | $633M | $522M | $304M | $139M | $144M | $165M | $422M | $250M |
| P/E Ratio → | 14.81 | 18.51 | 10.73 | 12.26 | 4.60 | 6.43 | — | — | — | 23.35 | 26.70 |
| P/S Ratio | 0.94 | 1.19 | 1.11 | 2.21 | 1.47 | 1.07 | 0.32 | 0.26 | 0.23 | 1.85 | 2.69 |
| P/B Ratio | 0.97 | 1.21 | 1.07 | 2.79 | 2.73 | 2.92 | 1.15 | 0.93 | 0.55 | 2.10 | 2.53 |
| P/FCF | — | — | 3.04 | 11.62 | 8.06 | — | 4.56 | 1.27 | 1.07 | 14.97 | 37.25 |
| P/OCF | — | — | 2.86 | 10.91 | 7.59 | — | 3.98 | 1.23 | 1.04 | 14.13 | 30.35 |
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 | — | 1.05 | 0.84 | 2.19 | 1.61 | 1.58 | 0.94 | 0.89 | 0.99 | 3.01 | 2.37 |
| EV / EBITDA | 8.00 | 10.53 | 5.59 | 7.54 | 3.80 | 6.27 | 11.59 | — | — | 25.98 | 11.81 |
| EV / EBIT | 10.59 | 13.92 | 6.81 | 8.10 | 3.97 | 6.79 | 20.06 | — | — | 18.95 | 13.20 |
| EV / FCF | — | — | 2.31 | 11.51 | 8.83 | — | 13.62 | 4.39 | 4.70 | 24.33 | 32.84 |
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 | 25.2% | 25.2% | 27.7% | 38.6% | 50.1% | 37.2% | 24.0% | 10.6% | -4.4% | 27.1% | 29.5% |
| Operating Margin | 7.5% | 7.5% | 12.4% | 27.0% | 40.4% | 21.9% | 4.0% | -9.7% | -25.6% | 10.8% | 18.0% |
| Net Profit Margin | 6.8% | 6.8% | 10.3% | 18.1% | 31.9% | 16.7% | -3.5% | -16.0% | -33.4% | 7.9% | 10.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.8% | 6.8% | 10.3% | 25.9% | 84.5% | 57.8% | -12.1% | -45.4% | -57.8% | 9.5% | 13.2% |
| ROA | 5.4% | 5.4% | 8.1% | 18.4% | 42.5% | 17.1% | -3.0% | -12.7% | -20.2% | 5.0% | 10.3% |
| ROIC | 7.1% | 7.1% | 10.8% | 26.5% | 50.8% | 21.1% | 3.2% | -6.9% | -13.2% | 6.2% | 18.8% |
| ROCE | 7.3% | 7.3% | 11.9% | 34.1% | 70.9% | 30.7% | 4.6% | -10.5% | -21.6% | 8.9% | 22.8% |
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 | 0.01 | 0.01 | 0.03 | 0.03 | 0.29 | 1.41 | 2.31 | 2.32 | 1.88 | 1.36 | 0.00 |
| Debt / EBITDA | 0.13 | 0.13 | 0.19 | 0.08 | 0.37 | 2.07 | 7.83 | — | — | 10.31 | 0.02 |
| Net Debt / Equity | — | -0.15 | -0.26 | -0.03 | 0.26 | 1.36 | 2.28 | 2.26 | 1.84 | 1.32 | -0.30 |
| Net Debt / EBITDA | -1.48 | -1.48 | -1.77 | -0.07 | 0.33 | 2.00 | 7.71 | — | — | 10.00 | -1.59 |
| Debt / FCF | — | — | -0.73 | -0.10 | 0.77 | — | 9.06 | 3.11 | 3.62 | 9.36 | -4.41 |
| Interest Coverage | — | — | — | 9.36 | 9.18 | 3.94 | 0.56 | -0.34 | -2.89 | 7.05 | 16.95 |
Net cash position: cash ($39M) exceeds total debt ($3M)
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 | 3.26 | 3.26 | 4.09 | 3.50 | 3.36 | 1.86 | 1.65 | 1.61 | 2.05 | 2.19 | 10.50 |
| Quick Ratio | 1.16 | 1.16 | 2.08 | 0.86 | 0.60 | 0.40 | 0.47 | 0.33 | 0.36 | 0.38 | 3.84 |
| Cash Ratio | 0.61 | 0.61 | 1.47 | 0.21 | 0.10 | 0.05 | 0.04 | 0.06 | 0.04 | 0.05 | 3.29 |
| Asset Turnover | — | 0.77 | 0.78 | 0.97 | 1.19 | 0.89 | 0.91 | 0.90 | 0.73 | 0.44 | 0.86 |
| Inventory Turnover | 1.36 | 1.36 | 1.78 | 1.15 | 1.12 | 1.29 | 2.52 | 2.45 | 1.71 | 0.59 | 1.08 |
| Days Sales Outstanding | — | 25.31 | 30.65 | 38.65 | 23.42 | 26.93 | 24.25 | 18.16 | 30.83 | 63.69 | 16.60 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.8% | 5.4% | 9.3% | 8.2% | 21.7% | 15.5% | — | — | — | 4.3% | 3.7% |
| FCF Yield | — | — | 32.9% | 8.6% | 12.4% | — | 21.9% | 78.6% | 93.2% | 6.7% | 2.7% |
| Buyback Yield | 8.6% | 6.8% | 3.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 8.6% | 6.8% | 3.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $43M | $47M | $47M | $47M | $47M | $43M | $43M | $42M | $43M | $35M |
Commodity Price Sensitivity
According to recent market data, HDSN trades at a P/E of 15.03 and an EV/EBITDA of 8.14, suggesting that investors are pricing the company as a cyclical commodity player rather than a structural beneficiary of the ongoing HFC phase-down mandated by the EPA's AIM Act.
The forward EV/EBITDA multiple of 3.14 implies significant earnings recovery expectations, yet this valuation remains sensitive to the timing of refrigerant price stabilization. Investors should monitor whether the current discount to broader industrial peers persists as the market gains clarity on the long-term scarcity value of reclaimed gas.
Based on reported figures, HDSN's ROIC has experienced significant decay, dropping from a peak of 5.9% in 2025Q3 to 0.5% in 2026Q1, which highlights the difficulty of compounding returns when profitability is tethered to the volatile spread between refrigerant acquisition costs and market resale prices.
The sharp decline in return metrics suggests that the company's invested capital is not currently generating adequate economic profit during periods of margin compression. This trend warrants further investigation into whether management can improve asset utilization or if the business model is structurally limited by its reliance on commodity price cycles.
As reported in financial statements, HDSN's cash conversion cycle reached 250 days in 2026Q1, driven largely by an elevated days inventory outstanding of 248 days, which indicates that the company's inventory-heavy business model requires substantial capital to manage the seasonal procurement of refrigerant feedstocks.
The extended CCC suggests that HDSN faces significant working capital pressure, as the time required to convert raw refrigerant into cash remains high. This inefficiency appears to be a structural feature of the reclamation process, necessitating careful monitoring of inventory turnover to ensure liquidity remains sufficient during seasonal downturns.
Based on an analysis of HDSN's business model, the trailing price-to-earnings ratio is frequently misapplied by market participants, as it fails to account for non-cash inventory write-downs that artificially depress reported earnings during periods of falling commodity prices, thereby obscuring the company's true mid-cycle earning power.
Analysts should instead focus on normalized EBITDA or cash flow metrics that adjust for inventory valuation fluctuations to better assess operational health. Relying on standard P/E multiples in this context may lead to an inaccurate assessment of the company's value, particularly when inventory-driven accounting charges are at their peak.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying HDSN stock.
Hudson Technologies, Inc.'s current P/E ratio is 14.8x. The historical average is 18.5x. This places it at the 50th percentile of its historical range.
Hudson Technologies, Inc.'s current EV/EBITDA is 8.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.4x.
Hudson Technologies, Inc.'s return on equity (ROE) is 6.8%. The historical average is -12.2%.
Based on historical data, Hudson Technologies, Inc. is trading at a P/E of 14.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Hudson Technologies, Inc. has 25.2% gross margin and 7.5% operating margin.
Hudson Technologies, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.