Icahn Enterprises L.P. (IEP) Financial Ratios
30 years of historical data (1995–2024) · Industrials · Conglomerates
EV/EBITDA
↓
14.14
+8% vs avg
5yr avg: 13.09
30Y Low0.9·High57.1
P/FCF
↓
9.06
↓-96% vs avg
5yr avg: 209.35
30Y Low1.9·High61.5
P/B Ratio
↓
0.84
↓-32% vs avg
5yr avg: 1.24
30Y Low0.0·High10.7
ROE
↑
-8.2%
↓+1% vs avg
5yr avg: -8.2%
30Y Low-16%·High57%
Debt/EBITDA
↑
13.14
↑+38% vs avg
5yr avg: 9.53
30Y Low1.8·High36.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
IEP Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Icahn Enterprises L.P. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 9.1x P/FCF, 96% below the 5-year average of 209.3x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.0B | $4.0B | $6.6B | $16.0B | $12.9B | $11.2B | $12.3B | $10.3B | $8.5B | $8.3B | $7.8B |
| Enterprise Value | $9.4B | $8.4B | $12.9B | $26.2B | $22.1B | $19.1B | $17.4B | $14.9B | $18.0B | $17.5B | $18.3B |
| P/E Ratio → | -8.86 | — | — | — | — | — | — | 5.04 | 3.58 | — | — |
| P/S Ratio | 0.49 | 0.40 | 0.55 | 1.11 | 1.05 | 1.68 | 1.10 | 0.94 | 0.81 | 0.51 | 0.51 |
| P/B Ratio | 0.84 | 0.87 | 1.08 | 1.67 | 1.38 | 1.21 | 1.12 | 0.53 | 0.48 | 0.59 | 0.48 |
| P/FCF | 9.06 | 7.32 | 1.91 | 22.32 | 805.84 | — | — | 15.98 | — | 9.96 | — |
| P/OCF | 6.01 | 4.86 | 1.76 | 15.17 | 40.17 | — | — | 11.23 | — | 4.99 | 10.88 |
P/E links to full P/E history page with 30-year chart
IEP EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Icahn Enterprises L.P.'s enterprise value stands at 14.1x EBITDA, 8% above its 5-year average of 13.1x. This is roughly in line with the Industrials sector median of 13.7x.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.83 | 1.08 | 1.82 | 1.80 | 2.86 | 1.55 | 1.37 | 1.72 | 1.08 | 1.21 |
| EV / EBITDA | 14.14 | 12.69 | 7.99 | 17.97 | 13.72 | — | 11.27 | 54.74 | 20.00 | 57.13 | 26.13 |
| EV / EBIT | 61.66 | — | — | 45.43 | 250.80 | — | — | 20.01 | 7.26 | — | — |
| EV / FCF | — | 15.24 | 3.76 | 36.56 | 1379.40 | — | — | 23.24 | — | 21.16 | — |
IEP Profitability
Margins and return-on-capital ratios measuring operating efficiency
Icahn Enterprises L.P. earns an operating margin of 1.5%, below the Industrials sector average of 4.7%. Operating margins have compressed from 6.6% to 1.5% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -8.2% indicates the company is currently destroying shareholder equity. ROIC of 1.1% represents below-average 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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 9.2% | 9.2% | 16.3% | 15.3% | 19.0% | -2.9% | 22.0% | 11.1% | 16.2% | 10.1% | 11.7% |
| Operating Margin | 1.5% | 1.5% | 9.2% | 6.6% | 8.9% | -20.8% | 9.7% | -1.6% | 4.1% | -4.3% | -0.9% |
| Net Profit Margin | -4.3% | -4.3% | -5.6% | -1.2% | -4.9% | -24.3% | -9.6% | 18.7% | 22.7% | -6.8% | -7.7% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -8.2% | -8.2% | -8.6% | -1.9% | -6.5% | -16.0% | -7.1% | 11.0% | 15.1% | -7.4% | -6.6% |
| ROA | -2.3% | -2.3% | -2.7% | -0.6% | -2.3% | -6.5% | -4.5% | 7.4% | 7.3% | -3.2% | -3.2% |
| ROIC | 1.1% | 1.1% | 5.1% | 3.7% | 4.6% | -6.3% | 4.1% | -0.5% | 1.3% | -2.1% | -0.4% |
| ROCE | 1.0% | 1.0% | 6.3% | 4.9% | 5.5% | -6.6% | 5.0% | -0.7% | 1.7% | -2.9% | -0.5% |
IEP Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Icahn Enterprises L.P. carries a Debt/EBITDA ratio of 13.1x, which is highly leveraged (324% above the sector average of 3.1x). Net debt stands at $4.4B ($8.7B total debt minus $4.3B cash). Interest coverage of just 0.3x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.89 | 1.89 | 1.85 | 1.47 | 1.45 | 1.20 | 0.92 | 0.38 | 0.63 | 0.80 | 0.79 |
| Debt / EBITDA | 13.14 | 13.14 | 6.94 | 9.65 | 8.40 | — | 6.50 | 26.84 | 12.40 | 36.22 | 18.02 |
| Net Debt / Equity | — | 0.95 | 1.04 | 1.07 | 0.98 | 0.85 | 0.46 | 0.24 | 0.54 | 0.67 | 0.66 |
| Net Debt / EBITDA | 6.60 | 6.60 | 3.92 | 7.00 | 5.70 | — | 3.30 | 17.11 | 10.54 | 30.25 | 15.06 |
| Debt / FCF | — | 7.92 | 1.84 | 14.24 | 573.56 | — | — | 7.26 | — | 11.20 | — |
| Interest Coverage | 0.29 | 0.29 | 1.98 | 1.67 | 1.64 | -2.02 | 1.80 | -0.33 | 0.66 | -0.80 | -0.12 |
IEP Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Icahn Enterprises L.P.'s current ratio of 3.41x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 3.04x 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 1.66x to 3.41x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.41 | 3.41 | 2.19 | 1.66 | 1.50 | 3.63 | 7.50 | 8.53 | 3.79 | 1.80 | 2.15 |
| Quick Ratio | 3.04 | 3.04 | 2.00 | 1.48 | 1.31 | 3.31 | 6.75 | 7.63 | 3.12 | 1.51 | 1.93 |
| Cash Ratio | 2.17 | 2.17 | 1.10 | 0.58 | 0.55 | 2.50 | 6.19 | 5.54 | 2.48 | 1.14 | 1.65 |
| Asset Turnover | — | 0.62 | 0.57 | 0.52 | 0.44 | 0.27 | 0.46 | 0.47 | 0.33 | 0.49 | 0.42 |
| Inventory Turnover | 10.30 | 10.30 | 9.53 | 7.98 | 6.74 | 4.34 | 4.83 | 5.44 | 2.69 | 4.88 | 5.92 |
| Days Sales Outstanding | — | 75.48 | 148.52 | 193.68 | 180.41 | 215.68 | 43.38 | 38.14 | 34.11 | 69.59 | 40.60 |
IEP Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Icahn Enterprises L.P. returns 10.1% to shareholders annually primarily through dividends.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 10.1% | 9.7% | 4.7% | 1.4% | 1.0% | 4.7% | 0.9% | 0.9% | 0.9% | 1.2% | 1.5% |
| Payout Ratio | — | — | — | — | — | — | — | 4.8% | 3.4% | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | 19.8% | 27.9% | — | — |
| FCF Yield | 11.0% | 13.7% | 52.3% | 4.5% | 0.1% | — | — | 6.3% | — | 10.0% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.9% | 0.7% |
| Total Shareholder Yield | 10.1% | 9.7% | 4.7% | 1.4% | 1.0% | 4.7% | 0.9% | 0.9% | 0.9% | 2.1% | 2.2% |
| Shares Outstanding | — | $466M | $382M | $316M | $260M | $221M | $200M | $180M | $161M | $138M | $127M |
Peer Comparison
Compare IEP 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 |
|---|---|---|---|---|---|---|---|---|---|
 IEPYou | $5B | -8.9 | 14.1 | 9.1 | 9.2% | 1.5% | -8.2% | 1.1% | 13.1 |
 CODI | $875M | 50.6 | 42.7 | — | 42.0% | -0.8% | -30.1% | -0.3% | 34.7 |
 CVR | $10M | -1.8 | — | — | 3.9% | -19.1% | -24.4% | -18.1% | — |
 PSX | $72B | 16.7 | 13.8 | 26.5 | 4.9% | 2.7% | 15.0% | 5.3% | 3.4 |
 VVV | $4B | 19.8 | 13.4 | 108.6 | 38.5% | 18.0% | 80.4% | 12.5% | 3.9 |
 REZI | $6B | -10.7 | 10.7 | — | 29.4% | 8.1% | -16.9% | 9.0% | 3.9 |
 PCAR | $60B | 25.1 | 13.3 | 19.7 | 16.2% | 10.4% | 12.9% | 12.2% | — |
 GS | $285B | 22.7 | 34.6 | — | 41.1% | 14.5% | 12.0% | 1.9% | 29.7 |
 MS | $301B | 23.8 | 25.7 | — | 55.6% | 17.1% | 13.0% | 2.9% | 15.8 |
 BX | $96B | 31.6 | 14.8 | 55.1 | 86.0% | 51.9% | 14.6% | 16.1% | 1.8 |
 KKR | $91B | 43.6 | 20.4 | 9.5 | 41.8% | 2.4% | 3.3% | 0.3% | 7.7 |
| Industrials Median | — | 25.7 | 13.7 | 21.2 | 33.0% | 4.7% | 8.2% | 6.3% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonIEP — Frequently Asked Questions
Quick answers to the most common questions about buying IEP stock.
What is Icahn Enterprises L.P.'s P/E ratio?
Icahn Enterprises L.P.'s current P/E ratio is -8.9x. The historical average is 18.2x.
What is Icahn Enterprises L.P.'s EV/EBITDA?
Icahn Enterprises L.P.'s current EV/EBITDA is 14.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.8x.
What is Icahn Enterprises L.P.'s ROE?
Icahn Enterprises L.P.'s return on equity (ROE) is -8.2%. The historical average is 4.1%.
Is IEP stock overvalued?
Based on historical data, Icahn Enterprises L.P. is trading at a P/E of -8.9x. Compare with industry peers and growth rates for a complete picture.
What is Icahn Enterprises L.P.'s dividend yield?
Icahn Enterprises L.P.'s current dividend yield is 10.07%.
What are Icahn Enterprises L.P.'s profit margins?
Icahn Enterprises L.P. has 9.2% gross margin and 1.5% operating margin.
How much debt does Icahn Enterprises L.P. have?
Icahn Enterprises L.P.'s Debt/EBITDA ratio is 13.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.