Latest Ratios: P/E Ratio 16.6x · EV/EBITDA 6.3x · ROE 10.5%. (2001–2025 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 | $872M | $553M | $690M | $1.1B | $601M | $686M | $666M | $805M | $363M | $1.1B | $849M |
| Enterprise Value | $1.9B | $1.5B | $1.7B | $2.0B | $1.5B | $1.5B | $1.5B | $1.8B | $1.3B | $1.7B | $1.5B |
| P/E Ratio → | 16.55 | 9.88 | 13.17 | 12.37 | 9.40 | 8.03 | 5.46 | 12.09 | 15.49 | 38.56 | 28.99 |
| P/S Ratio | 0.46 | 0.29 | 0.33 | 0.51 | 0.30 | 0.41 | 0.40 | 0.49 | 0.21 | 0.76 | 0.60 |
| P/B Ratio | 1.61 | 0.96 | 1.41 | 2.19 | 1.49 | 1.67 | 1.92 | 5.07 | 5.42 | 10.58 | 24.52 |
| P/FCF | 12.92 | 8.19 | 16.42 | 43.09 | — | — | 11.48 | 10.31 | — | 32.65 | 12.19 |
| P/OCF | 7.12 | 4.51 | 5.78 | 7.55 | 5.88 | 6.66 | 5.21 | 6.98 | 4.64 | 11.00 | 7.10 |
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 | — | 0.82 | 0.80 | 0.91 | 0.74 | 0.90 | 0.90 | 1.09 | 0.77 | 1.18 | 1.05 |
| EV / EBITDA | 6.34 | 5.25 | 7.89 | 7.80 | 7.60 | 7.08 | 7.14 | 9.93 | 8.15 | 10.73 | 10.70 |
| EV / EBIT | 8.47 | 10.43 | 9.26 | 10.17 | 10.89 | 11.89 | 9.23 | 13.65 | 15.40 | 16.89 | 16.69 |
| EV / FCF | — | 22.77 | 39.71 | 76.85 | — | — | 25.96 | 22.89 | — | 50.63 | 21.41 |
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 | 23.8% | 23.8% | 20.2% | 19.7% | 17.4% | 19.9% | 21.6% | 20.2% | 19.6% | 21.8% | 20.4% |
| Operating Margin | 11.7% | 11.7% | 7.1% | 9.1% | 7.0% | 9.3% | 9.4% | 7.6% | 6.5% | 7.6% | 6.1% |
| Net Profit Margin | 3.0% | 3.0% | 2.5% | 4.1% | 3.2% | 5.1% | 7.3% | 4.1% | 1.4% | 2.0% | 2.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.5% | 10.5% | 10.6% | 19.7% | 15.6% | 22.5% | 48.3% | 59.0% | 27.1% | 41.5% | 264.0% |
| ROA | 3.0% | 3.0% | 2.8% | 5.0% | 3.8% | 5.2% | 7.7% | 4.4% | 1.7% | 2.5% | 2.6% |
| ROIC | 10.9% | 10.9% | 7.8% | 11.1% | 8.2% | 9.7% | 10.1% | 8.7% | 9.5% | 12.0% | 9.4% |
| ROCE | 13.6% | 13.6% | 9.6% | 13.5% | 10.0% | 11.7% | 12.2% | 10.2% | 10.5% | 13.1% | 10.5% |
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 | 1.78 | 1.78 | 2.09 | 1.85 | 2.24 | 2.13 | 2.54 | 6.39 | 14.78 | 6.40 | 19.14 |
| Debt / EBITDA | 3.49 | 3.49 | 4.84 | 3.69 | 4.67 | 4.09 | 4.17 | 5.63 | 6.14 | 4.18 | 4.76 |
| Net Debt / Equity | — | 1.71 | 2.00 | 1.72 | 2.16 | 2.02 | 2.43 | 6.19 | 14.18 | 5.83 | 18.54 |
| Net Debt / EBITDA | 3.36 | 3.36 | 4.63 | 3.43 | 4.50 | 3.87 | 3.98 | 5.45 | 5.89 | 3.81 | 4.61 |
| Debt / FCF | — | 14.59 | 23.29 | 33.76 | — | — | 14.48 | 12.58 | — | 17.98 | 9.22 |
| Interest Coverage | 2.23 | 2.23 | 2.36 | 2.72 | 3.02 | 3.15 | 3.34 | 2.12 | 1.52 | 2.42 | 1.76 |
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 | 2.94 | 2.94 | 2.09 | 2.14 | 1.97 | 2.20 | 1.93 | 1.75 | 1.81 | 1.80 | 1.49 |
| Quick Ratio | 1.13 | 1.13 | 0.85 | 0.93 | 0.87 | 1.10 | 0.92 | 0.78 | 0.86 | 0.96 | 0.71 |
| Cash Ratio | 0.17 | 0.17 | 0.13 | 0.20 | 0.10 | 0.16 | 0.13 | 0.11 | 0.14 | 0.21 | 0.07 |
| Asset Turnover | — | 1.00 | 1.11 | 1.17 | 1.16 | 1.01 | 1.04 | 1.05 | 1.16 | 1.23 | 1.30 |
| Inventory Turnover | 3.48 | 3.48 | 4.13 | 4.37 | 4.60 | 4.28 | 4.42 | 4.53 | 4.83 | 4.87 | 4.93 |
| Days Sales Outstanding | — | 30.82 | 33.46 | 34.29 | 39.75 | 39.75 | 38.29 | 36.30 | 41.08 | 39.80 | 38.53 |
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 | 0.7% | 1.2% | 0.9% | 0.5% | 0.7% | — | — | — | — | — | — |
| Payout Ratio | 11.4% | 11.4% | 11.3% | 5.6% | 6.6% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.0% | 10.1% | 7.6% | 8.1% | 10.6% | 12.5% | 18.3% | 8.3% | 6.5% | 2.6% | 3.4% |
| FCF Yield | 7.7% | 12.2% | 6.1% | 2.3% | — | — | 8.7% | 9.7% | — | 3.1% | 8.2% |
| Buyback Yield | 4.4% | 6.9% | 7.4% | 1.8% | 3.9% | 1.7% | 0.2% | 0.1% | 8.8% | 0.5% | 0.0% |
| Total Shareholder Yield | 5.1% | 8.1% | 8.2% | 2.3% | 4.6% | 1.7% | 0.2% | 0.1% | 8.8% | 0.5% | 0.0% |
| Shares Outstanding | — | $20M | $21M | $22M | $21M | $22M | $21M | $21M | $21M | $22M | $21M |
Cyclical leverage and volatility
Based on current market data, Koppers trades at a forward P/E of 10.92, which suggests that investors are pricing in significant earnings volatility rather than sustained growth, especially when compared to the broader specialty chemicals peer group that often commands higher, more stable valuation multiples.
The discrepancy between the TTM P/E of 16.47 and the forward multiple indicates that the market anticipates a recovery in earnings, yet the lack of a PEG ratio highlights the difficulty in forecasting consistent growth. Investors should monitor whether this discount is a structural valuation trap or a genuine opportunity given the company's role in essential infrastructure maintenance.
As reported in recent financial statements, Koppers' ROIC has struggled to exceed 3% in most quarters, a level that appears insufficient to cover the company's cost of capital and suggests that the asset-heavy nature of its distillation and treatment facilities is currently suppressing shareholder value creation.
The persistent gap between ROIC and the company's historical performance indicates that management's capital allocation strategy has yet to yield the expected efficiencies from its vertical integration. This trend warrants further investigation into whether the company's heavy investment in aging infrastructure is truly generating incremental returns or merely maintaining the status quo.
According to quarterly data, the cash conversion cycle has trended toward 95-113 days, reflecting significant inefficiencies in inventory management and a reliance on extended payment terms that may be masking underlying operational pressures within the RUPS and Performance Chemicals segments during periods of softening demand.
The high days inventory outstanding (DIO) suggests that Koppers is carrying substantial capital in raw materials, which leaves the firm vulnerable to commodity price swings. This inefficiency in working capital management appears to be a structural drag on cash flow, limiting the company's ability to deleverage effectively.
Based on reported figures, the company's debt-to-EBITDA ratio has shown extreme volatility, peaking at over 54x in 2024Q4, which indicates that the current capital structure is highly sensitive to earnings fluctuations and may limit the firm's ability to navigate future cyclical downturns without significant refinancing risk.
While the provided debt-to-equity ratio of 1.78% appears anomalous and likely misrepresentative of the firm's true leverage, the interest coverage ratio consistently hovering near 2x-3x confirms that debt service remains a primary concern. Investors should be wary of the company's reliance on debt to fund operations in a high-rate environment.
The most commonly misapplied metric for Koppers is the standard P/E ratio, which fails to account for the significant non-cash charges and environmental remediation provisions that frequently distort reported net income in capital-intensive industrial chemical businesses, thereby obscuring the company's true underlying cash-generating capacity.
Analysts should instead prioritize EV/EBITDA or P/FCF to better capture the operational reality of the business, as these metrics are less susceptible to the accounting noise inherent in legacy chemical manufacturing. Relying on P/E alone may lead to an inaccurate assessment of the company's valuation relative to its peers.
Includes 30+ ratios · 25 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying KOP stock.
Koppers Holdings Inc.'s current P/E ratio is 16.6x. The historical average is 17.3x. This places it at the 61th percentile of its historical range.
Koppers Holdings Inc.'s current EV/EBITDA is 6.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.7x.
Koppers Holdings Inc.'s return on equity (ROE) is 10.5%. The historical average is 29.6%.
Based on historical data, Koppers Holdings Inc. is trading at a P/E of 16.6x. This is at the 61th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Koppers Holdings Inc.'s current dividend yield is 0.69% with a payout ratio of 11.4%.
Koppers Holdings Inc. has 23.8% gross margin and 11.7% operating margin. Operating margin between 10-20% is typical for established companies.
Koppers Holdings Inc.'s Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.