Latest Ratios: P/E Ratio 28.0x · EV/EBITDA 19.5x · ROE 24.8%. (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 | $24.5B | $23.8B | $22.6B | $17.8B | $12.7B | $11.4B | $8.5B | $8.1B | $5.5B | $7.5B | $6.5B |
| Enterprise Value | $26.6B | $25.9B | $24.0B | $19.7B | $13.8B | $12.6B | $10.0B | $9.6B | $7.1B | $8.1B | $7.1B |
| P/E Ratio → | 28.04 | 26.85 | 29.15 | 23.43 | 24.89 | 28.61 | 24.42 | 20.25 | 15.14 | 30.83 | 22.27 |
| P/S Ratio | 4.19 | 4.07 | 4.02 | 3.31 | 2.57 | 2.72 | 2.32 | 2.05 | 1.22 | 2.03 | 1.85 |
| P/B Ratio | 6.44 | 6.17 | 6.89 | 6.15 | 5.36 | 5.08 | 4.10 | 4.12 | 3.03 | 4.53 | 4.05 |
| P/FCF | 28.01 | 27.20 | 27.90 | 24.84 | 27.97 | 25.12 | 15.27 | 16.25 | 12.96 | 24.92 | 19.64 |
| P/OCF | 23.79 | 23.10 | 22.82 | 20.17 | 21.77 | 20.95 | 13.19 | 13.67 | 10.55 | 19.68 | 16.32 |
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 | — | 4.43 | 4.27 | 3.67 | 2.79 | 3.01 | 2.71 | 2.43 | 1.57 | 2.22 | 2.01 |
| EV / EBITDA | 19.55 | 19.03 | 18.42 | 16.59 | 16.11 | 18.55 | 15.62 | 14.41 | 10.01 | 13.19 | 12.15 |
| EV / EBIT | 21.87 | 21.60 | 22.25 | 19.33 | 19.55 | 24.59 | 20.59 | 17.81 | 13.08 | 16.68 | 14.89 |
| EV / FCF | — | 29.63 | 29.61 | 27.57 | 30.43 | 27.86 | 17.83 | 19.24 | 16.77 | 27.19 | 21.32 |
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 | 35.5% | 35.5% | 33.8% | 35.1% | 29.7% | 27.5% | 29.5% | 29.7% | 29.0% | 31.5% | 31.5% |
| Operating Margin | 20.8% | 20.8% | 19.4% | 19.3% | 14.3% | 12.7% | 13.4% | 13.3% | 12.4% | 14.1% | 14.0% |
| Net Profit Margin | 15.2% | 15.2% | 13.8% | 14.1% | 11.0% | 9.5% | 9.5% | 9.2% | 8.0% | 6.6% | 8.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 24.8% | 24.8% | 25.2% | 28.9% | 23.7% | 18.5% | 17.4% | 19.2% | 20.9% | 15.0% | 17.5% |
| ROA | 11.9% | 11.9% | 11.4% | 12.3% | 10.2% | 7.7% | 7.0% | 7.4% | 8.4% | 6.7% | 8.7% |
| ROIC | 17.1% | 17.1% | 17.2% | 18.7% | 15.3% | 11.4% | 10.6% | 11.5% | 14.6% | 17.3% | 17.5% |
| ROCE | 20.1% | 20.1% | 19.9% | 21.0% | 16.6% | 12.7% | 12.1% | 13.0% | 15.8% | 17.4% | 17.7% |
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 | 0.68 | 0.68 | 0.52 | 0.79 | 0.66 | 0.68 | 0.81 | 0.85 | 1.00 | 0.64 | 0.62 |
| Debt / EBITDA | 1.92 | 1.92 | 1.32 | 1.93 | 1.82 | 2.25 | 2.65 | 2.52 | 2.54 | 1.71 | 1.71 |
| Net Debt / Equity | — | 0.55 | 0.42 | 0.68 | 0.47 | 0.56 | 0.69 | 0.76 | 0.89 | 0.41 | 0.35 |
| Net Debt / EBITDA | 1.56 | 1.56 | 1.07 | 1.64 | 1.30 | 1.83 | 2.24 | 2.24 | 2.27 | 1.10 | 0.96 |
| Debt / FCF | — | 2.43 | 1.71 | 2.73 | 2.46 | 2.74 | 2.56 | 3.00 | 3.81 | 2.27 | 1.68 |
| Interest Coverage | 18.71 | 18.71 | 14.62 | 27.79 | 14.25 | 9.40 | 8.06 | 7.84 | 7.45 | 10.87 | 10.92 |
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 | 1.72 | 1.72 | 1.64 | 1.64 | 1.86 | 1.76 | 1.67 | 1.86 | 1.96 | 2.27 | 2.63 |
| Quick Ratio | 1.00 | 1.00 | 0.98 | 1.01 | 1.18 | 1.14 | 1.12 | 1.11 | 1.18 | 1.37 | 1.73 |
| Cash Ratio | 0.33 | 0.33 | 0.27 | 0.26 | 0.42 | 0.28 | 0.28 | 0.23 | 0.24 | 0.55 | 0.76 |
| Asset Turnover | — | 0.71 | 0.84 | 0.78 | 0.92 | 0.79 | 0.72 | 0.80 | 0.92 | 0.99 | 0.99 |
| Inventory Turnover | 3.48 | 3.48 | 4.42 | 4.18 | 4.69 | 4.60 | 4.93 | 4.38 | 4.89 | 3.96 | 4.51 |
| Days Sales Outstanding | — | 53.51 | 49.03 | 53.35 | 54.71 | 58.77 | 54.84 | 63.17 | 61.21 | 55.65 | 56.76 |
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 | 1.2% | 1.2% | 1.2% | 1.4% | 1.8% | 1.9% | 2.4% | 2.3% | 3.2% | 2.1% | 2.2% |
| Payout Ratio | 32.3% | 32.3% | 34.4% | 32.3% | 42.1% | 54.3% | 57.3% | 51.6% | 47.8% | 64.8% | 49.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.6% | 3.7% | 3.4% | 4.3% | 4.0% | 3.5% | 4.1% | 4.9% | 6.6% | 3.2% | 4.5% |
| FCF Yield | 3.6% | 3.7% | 3.6% | 4.0% | 3.6% | 4.0% | 6.5% | 6.2% | 7.7% | 4.0% | 5.1% |
| Buyback Yield | 0.9% | 0.9% | 0.2% | 0.2% | 1.4% | 0.1% | 0.5% | 0.4% | 0.7% | 1.2% | 3.8% |
| Total Shareholder Yield | 2.1% | 2.2% | 1.4% | 1.6% | 3.2% | 2.0% | 2.8% | 2.7% | 3.9% | 3.4% | 6.0% |
| Shares Outstanding | — | $54M | $54M | $54M | $54M | $55M | $55M | $55M | $55M | $55M | $56M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying HUBB stock.
Hubbell Incorporated's current P/E ratio is 28.0x. The historical average is 20.6x. This places it at the 87th percentile of its historical range.
Hubbell Incorporated's current EV/EBITDA is 19.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.1x.
Hubbell Incorporated's return on equity (ROE) is 24.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 18.1%.
Based on historical data, Hubbell Incorporated is trading at a P/E of 28.0x. This is at the 87th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Hubbell Incorporated's current dividend yield is 1.15% with a payout ratio of 32.3%.
Hubbell Incorporated has 35.5% gross margin and 20.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Hubbell Incorporated's Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Acquisition integration and leverage
Metrics are mathematically derived from official filings.
Margin Expansion Masks Cyclical Mix
Gross margin reached 35.8% in 2026Q2, up from 35.4% a year earlier, while operating margin expanded to 20.4% from 17.4%, per quarterly filings, indicating sustained pricing power despite commodity volatility.
The sequential margin recovery from the 2025Q1 trough (operating margin 17.5%) suggests that pricing actions and mix shift toward utility solutions are driving profitability, not just one-off tailwinds. However, the 2026Q2 net margin of 14.0% is below the 15.0% reported in 2025Q4, implying that higher interest expense from the recent acquisition is beginning to weigh on bottom-line profitability. Investors should monitor whether margin expansion can persist if non-residential construction softens, as the Electrical Solutions segment may face negative operating leverage.
ROIC Dilution from Debt-Funded Deal
ROIC fell to 3.5% in 2026Q2 from 5.0% in 2025Q2, per reported figures, as the $3.0B acquisition expanded the capital base faster than operating income, suggesting near-term return dilution.
The decline in ROIC from 5.0% to 3.5% over the past year reflects the impact of the acquisition, which added significant goodwill and intangibles without an immediate commensurate increase in NOPAT. While ROE also dipped to 6.2% from 7.2%, the more concerning trend is the widening gap between ROIC and the cost of capital, which may indicate that the acquisition premium is not yet generating economic returns. Management's guidance for double-digit adjusted operating profit growth suggests that ROIC could recover, but the pace of integration and margin realization will be critical.
Working Capital Drag Intensifies
Cash conversion cycle lengthened to 104 days in 2026Q2 from 94 days a year earlier, driven by DIO rising to 100 days from 92 days, according to quarterly data, indicating slower inventory turnover.
The 10-day increase in CCC is primarily due to inventory build-up, which may reflect supply chain stocking or anticipation of demand, but it also ties up cash and reduces FCF conversion. DSO remained stable at 56 days, while DPO stayed at 52 days, suggesting that Hubbell is not extending payables to offset the inventory drag. This trend, combined with the seasonal FCF dip in Q1, highlights that working capital management is a key swing factor for cash generation, especially after the acquisition.
Leverage Doubles on Strategic Deal
Debt-to-equity rose to 1.37 in 2026Q2 from 0.72 in 2026Q1, while D/EBITDA jumped to 12.91 from 8.45, per the balance sheet, reflecting the debt-funded acquisition.
The doubling of leverage is a deliberate strategic move, but the D/EBITDA of 12.91 is elevated relative to the prior range of 5-8, indicating a significant increase in financial risk. Interest coverage fell to 8.77 from 11.75, still comfortable but trending downward, and further declines could pressure credit metrics. The company's ability to deleverage through strong FCF and EBITDA growth will be crucial; however, the acquisition integration risk and potential for further M&A could prolong the elevated leverage.
Liquidity Adequate Despite Cash Dip
Current ratio improved to 1.61 in 2026Q2 from 1.58 in 2026Q1, while quick ratio held at 0.93, per reported figures, indicating sufficient short-term coverage despite a cash balance of $378.6M.
The current ratio remains above 1.5, but the quick ratio below 1.0 suggests reliance on inventory to meet short-term obligations, which could be a concern if inventory becomes obsolete or demand slows. The cash position is modest relative to the $5.4B debt load, but the company's strong FCF generation (12.4% margin in 2026Q2) provides a buffer. Under a severe stress scenario, such as a sharp downturn in non-residential construction, liquidity could tighten, but the current levels appear manageable.
P/E Misleads on Acquisition Impact
The trailing P/E of 28.57 is distorted by acquisition-related amortization and one-time charges, per recent filings, obscuring the underlying earnings power of the utility segment.
The most commonly misapplied ratio for Hubbell is the P/E, because it fails to adjust for the significant amortization of intangibles from frequent acquisitions, which depresses reported earnings. A more appropriate metric is EV/EBITDA, which at 19.89 (or 12.45 forward) better captures the cash-generating ability of the business and is more comparable to peers like Eaton. Investors should also consider P/FCF (28.54) as a check, but the EV/EBITDA multiple provides a cleaner view of the operating performance and leverage-adjusted valuation.