Latest Ratios: P/E Ratio 3.2x · EV/EBITDA 9.1x · ROE 43.8%. (2015–2025 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 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $671M | — | — | — | — | — | — | — |
| Enterprise Value | $2.9B | $2.3B | — | — | — | — | — | — | — |
| P/E Ratio → | 3.23 | 3.57 | — | — | — | — | — | — | — |
| P/S Ratio | 2.46 | 1.32 | — | — | — | — | — | — | — |
| P/B Ratio | 1.28 | 1.41 | — | — | — | — | — | — | — |
| P/FCF | 4.66 | 2.50 | — | — | — | — | — | — | — |
| P/OCF | 4.64 | 2.49 | — | — | — | — | — | — | — |
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 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.60 | — | — | — | — | — | — | — |
| EV / EBITDA | 9.05 | 7.26 | — | — | — | — | — | — | — |
| EV / EBIT | 9.21 | 7.21 | — | — | — | — | — | — | — |
| EV / FCF | — | 8.73 | — | — | — | — | — | — | — |
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 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 81.9% | 81.9% | 71.2% | 73.8% | 112.3% | 94.5% | 97.8% | 100.0% | 100.0% |
| Operating Margin | 62.4% | 62.4% | 50.8% | 50.8% | 43.5% | 35.5% | 17.6% | -43.8% | -184.9% |
| Net Profit Margin | 37.0% | 37.0% | 24.3% | 34.5% | 121.4% | 174.2% | 119.4% | 245.2% | -168.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 43.8% | 43.8% | 30.7% | 25.0% | 7.8% | 12.7% | 6.1% | 11.9% | -2.9% |
| ROA | 10.0% | 10.0% | 7.6% | 11.6% | 6.3% | 12.0% | 5.7% | 10.7% | -2.8% |
| ROIC | 12.6% | 12.6% | 12.5% | 13.2% | 1.7% | 1.9% | 0.7% | -1.5% | — |
| ROCE | 18.8% | 18.8% | 16.6% | 17.6% | 2.3% | 2.5% | 0.9% | -2.0% | -3.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.60 | 3.60 | 3.12 | 2.54 | 0.34 | 0.04 | 0.00 | 0.11 | — |
| Debt / EBITDA | 5.32 | 5.32 | 5.26 | 4.55 | 9.15 | 1.69 | 0.27 | — | — |
| Net Debt / Equity | — | 3.50 | 3.03 | 2.49 | 0.34 | 0.03 | -0.15 | -0.29 | -0.43 |
| Net Debt / EBITDA | 5.18 | 5.18 | 5.10 | 4.47 | 9.00 | 1.09 | -17.28 | — | — |
| Debt / FCF | — | 6.22 | 7.16 | 6.36 | — | — | — | — | — |
| Interest Coverage | 3.06 | 3.06 | — | — | 6.22 | 26.23 | 14.83 | 29.65 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.20 | 0.20 | 20.16 | 25.09 | 0.79 | 0.96 | 6.79 | 15.41 | 17.73 |
| Quick Ratio | 0.20 | 0.20 | 20.16 | 25.09 | 0.79 | 0.96 | 6.79 | 15.41 | 17.73 |
| Cash Ratio | 0.16 | 0.16 | 0.46 | 0.35 | 0.16 | 0.49 | 5.80 | 11.55 | 11.97 |
| Asset Turnover | — | 0.24 | 0.26 | 0.29 | 0.05 | 0.05 | 0.04 | 0.03 | 0.02 |
| 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 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 10.4% | 9.5% | — | — | — | — | — | — | — |
| Payout Ratio | 33.8% | 33.8% | 34.2% | 27.4% | 94.0% | 56.3% | 116.4% | 53.0% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 30.9% | 28.0% | — | — | — | — | — | — | — |
| FCF Yield | 21.5% | 39.9% | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 10.4% | 9.5% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $30M | $58M | $58M | $22M | $17M | $12M | $6M | $5M |
Includes 30+ ratios · 8 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying JCAP stock.
Jefferson Capital, Inc. Common Stock's current P/E ratio is 3.2x. The historical average is 3.6x.
Jefferson Capital, Inc. Common Stock's current EV/EBITDA is 9.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.3x.
Jefferson Capital, Inc. Common Stock's return on equity (ROE) is 43.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 16.9%.
Based on historical data, Jefferson Capital, Inc. Common Stock is trading at a P/E of 3.2x. Compare with industry peers and growth rates for a complete picture.
Jefferson Capital, Inc. Common Stock's current dividend yield is 10.44% with a payout ratio of 33.8%.
Jefferson Capital, Inc. Common Stock has 81.9% gross margin and 62.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Jefferson Capital, Inc. Common Stock's Debt/EBITDA ratio is 5.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Earnings quality and provision volatility
Metrics are mathematically derived from official filings.
P/B Premium Reflects High ROTCE Expectations
JCAP trades at a P/B of 1.31, a significant premium to peer PRA Group's 0.71, suggesting the market prices in its superior profitability and lower leverage, as reported in recent financial statements.
The current P/B of 1.31, while below its own volatile history, implies the market expects JCAP to sustain its high return on tangible equity (ROTCE). This premium valuation appears justified by its 9.0% ROE and 30.65% net margin, which dramatically outperform peers like PRA Group's negative profitability. However, the extreme historical P/B volatility, reaching 144.50 in Q2 2025, indicates the multiple is highly sensitive to earnings swings and may not reflect a stable franchise value.
ROE Driven by High Margins, Not Leverage
JCAP's 9.0% ROE in Q2 2026 is primarily fueled by an exceptional 30.65% net margin, not by excessive leverage, as its equity-to-assets ratio of 0.23 is conservative relative to peers like Encore Capital's 4.23.
The DuPont decomposition reveals a profitability profile driven by operational efficiency rather than financial engineering. The high net margin suggests a superior cost-to-collect ratio and favorable portfolio acquisition pricing, consistent with its specialized data-driven model. The modest leverage (equity-to-assets of 0.23) provides a buffer against collection shortfalls but also limits the ROE amplification seen in more leveraged peers, indicating a focus on sustainable returns over maximum leverage.
Erratic NIM Obscures Core Fee-Based Model
The NIM has been wildly erratic, swinging from -42.8% in Q3 2025 to 6.5% in Q2 2026, indicating that traditional interest income is not the primary driver of JCAP's business model.
The extreme NIM volatility, including a negative reading, suggests that net interest income is a residual or accounting artifact rather than a core profit center. This aligns with the prior analysis showing fee income constituted 85.2% of revenue in Q1 2026. The efficiency ratio's corresponding swings, from 14.0% to 80.0%, further confirm that operating costs are not being measured against a stable interest margin, making this metric less meaningful for JCAP than for a traditional bank.
Provision Volatility Masks True Credit Performance
Provision expense has been the most volatile line item, swinging from a negative $77.1B in Q3 2025 to a positive $97.9M in Q1 2026, making it nearly impossible to assess the true trajectory of credit performance.
The massive swings in provision expense are the primary source of earnings distortion and suggest that the accrual-based revenue recognition model for purchased debt portfolios is highly sensitive to management's estimates of future collections. A negative provision, as seen in Q3 2025, implies a significant upward revision in expected cash flows from existing portfolios, while a large positive provision indicates the opposite. This volatility obscures the underlying health of the asset base and warrants close scrutiny of the assumptions driving these estimates.
P/E Multiple Misleads on Earnings Quality
The P/E ratio of 3.32 is the most commonly misapplied metric to JCAP, as it is heavily distorted by massive swings in provision expense that do not reflect the core cash-generating ability of its debt purchasing operations.
Investors using the P/E ratio may be misled by its apparent cheapness, which is a function of volatile, non-cash provision adjustments rather than sustainable operational earnings. The prior analysis highlighted that provision expense has been the most volatile cash flow item, making net income an unreliable proxy for performance. A more appropriate metric would be the price-to-tangible-book-value (P/TBV) ratio, which focuses on the balance sheet's liquidation value, or an analysis of cash collections versus portfolio purchase prices, which better captures the economic reality of the business model.