Latest Ratios: P/E Ratio -2.7x · EV/EBITDA 4.7x · ROE -80.9%. (2010–2025 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 | $1.3B | $434M | $1.6B | $3.2B | $3.0B | $1.4B | $952M | $2.3B | $1.6B | $2.7B | $2.7B |
| Enterprise Value | $4.2B | $3.4B | $4.3B | $5.5B | $5.1B | $3.9B | $2.9B | $4.1B | $3.6B | $3.7B | $3.8B |
| P/E Ratio → | -2.73 | — | 8.55 | 15.25 | 13.25 | — | — | — | — | — | — |
| P/S Ratio | 0.72 | 0.33 | 0.97 | 1.90 | 1.35 | 1.08 | 1.18 | 1.53 | 1.86 | 4.60 | 8.70 |
| P/B Ratio | 1.91 | 0.82 | 1.36 | 3.13 | 3.83 | 2.73 | 2.16 | 2.72 | 1.75 | 2.97 | 2.50 |
| P/FCF | 6.88 | — | — | — | 9.41 | — | — | 8.29 | — | 28.53 | — |
| P/OCF | 9.38 | 3.24 | 2.40 | 4.22 | 2.67 | 3.85 | 4.85 | 3.64 | 6.32 | 11.24 | 51.88 |
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 | — | 2.63 | 2.57 | 3.25 | 2.25 | 2.95 | 3.62 | 2.72 | 4.05 | 6.42 | 12.34 |
| EV / EBITDA | 4.67 | 11.60 | 4.60 | 4.71 | 3.14 | 4.72 | 16.09 | 2.90 | 13.66 | 20.85 | — |
| EV / EBIT | — | — | 10.04 | 11.61 | 11.00 | 57.44 | — | 22.89 | 89.69 | — | — |
| EV / FCF | — | — | — | — | 15.77 | — | — | 14.74 | — | 39.78 | — |
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 | -14.8% | -14.8% | 41.1% | 50.9% | 59.6% | 38.9% | -2.5% | 74.8% | 37.5% | 33.9% | 16.3% |
| Operating Margin | -20.9% | -20.9% | 28.1% | 42.2% | 49.3% | 26.7% | — | 55.4% | -8.6% | -15.1% | -81.9% |
| Net Profit Margin | -53.9% | -53.9% | 11.3% | 12.5% | 10.1% | -5.8% | -51.2% | -3.7% | -10.6% | -38.5% | -91.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -80.9% | -80.9% | 17.0% | 23.5% | 34.4% | -16.1% | -64.2% | -6.3% | -10.2% | -22.5% | -23.6% |
| ROA | -14.0% | -14.0% | 3.7% | 4.5% | 4.8% | -1.8% | -10.1% | -1.3% | -2.6% | -6.8% | -8.7% |
| ROIC | -5.5% | -5.5% | 9.8% | 17.5% | 28.4% | 9.9% | — | 22.6% | -2.4% | -3.2% | -9.3% |
| ROCE | -6.1% | -6.1% | 10.4% | 17.1% | 26.3% | 9.1% | — | 22.2% | -2.4% | -3.0% | -8.9% |
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 | 5.80 | 5.80 | 2.30 | 2.32 | 2.83 | 4.95 | 4.78 | 2.39 | 2.25 | 1.43 | 1.22 |
| Debt / EBITDA | 10.43 | 10.43 | 2.95 | 2.04 | 1.38 | 3.14 | 11.64 | 1.43 | 8.06 | 7.21 | — |
| Net Debt / Equity | — | 5.63 | 2.23 | 2.22 | 2.59 | 4.70 | 4.44 | 2.12 | 2.07 | 1.17 | 1.04 |
| Net Debt / EBITDA | 10.12 | 10.12 | 2.86 | 1.96 | 1.26 | 2.99 | 10.82 | 1.27 | 7.40 | 5.90 | — |
| Debt / FCF | — | — | — | — | 6.36 | — | — | 6.46 | — | 11.25 | — |
| Interest Coverage | -9.56 | -9.56 | 5.42 | 4.58 | 3.74 | 0.61 | -2.95 | 1.38 | 0.40 | -1.26 | -5.54 |
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 | 0.75 | 0.75 | 0.75 | 0.76 | 0.82 | 1.02 | 0.87 | 1.05 | 1.33 | 1.24 | 1.28 |
| Quick Ratio | 0.45 | 0.45 | 0.46 | 0.49 | 0.58 | 0.71 | 0.59 | 0.84 | 1.11 | 1.08 | 1.08 |
| Cash Ratio | 0.16 | 0.16 | 0.14 | 0.17 | 0.32 | 0.25 | 0.32 | 0.42 | 0.45 | 0.54 | 0.52 |
| Asset Turnover | — | 0.28 | 0.32 | 0.34 | 0.49 | 0.27 | 0.21 | 0.35 | 0.22 | 0.18 | 0.09 |
| Inventory Turnover | 8.63 | 8.63 | 5.78 | 5.49 | 6.80 | 4.92 | 6.39 | 3.31 | 6.54 | 5.32 | 3.49 |
| Days Sales Outstanding | — | 29.10 | 35.94 | 25.90 | 19.46 | 48.65 | 35.78 | 42.43 | 57.63 | 101.62 | 168.56 |
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 | — | — | — | 0.0% | 0.0% | 0.0% | 2.0% | 3.2% | — | — | — |
| Payout Ratio | — | — | — | 0.1% | 0.3% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 11.7% | 6.6% | 7.5% | — | — | — | — | — | — |
| FCF Yield | 14.5% | — | — | — | 10.6% | — | — | 12.1% | — | 3.5% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.5% | 0.1% | 12.5% | 0.1% | 0.1% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.5% | 3.3% | 12.5% | 0.1% | 0.1% |
| Shares Outstanding | — | $478M | $477M | $481M | $475M | $417M | $405M | $401M | $405M | $388M | $385M |
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying KOS stock.
Kosmos Energy Ltd.'s current P/E ratio is -2.7x. The historical average is 12.2x.
Kosmos Energy Ltd.'s current EV/EBITDA is 4.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.6x.
Kosmos Energy Ltd.'s return on equity (ROE) is -80.9%. The historical average is -13.1%.
Based on historical data, Kosmos Energy Ltd. is trading at a P/E of -2.7x. Compare with industry peers and growth rates for a complete picture.
Kosmos Energy Ltd. has -14.8% gross margin and -20.9% operating margin.
Kosmos Energy Ltd.'s Debt/EBITDA ratio is 10.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Leverage and deepwater execution risk
Metrics are mathematically derived from official filings.
Forward Multiples Mask Trailing Losses
Based on reported figures, KOS trades at 13.10x trailing EV/EBITDA but only 4.74x forward, a gap that suggests the market is pricing in a substantial earnings recovery that has not yet appeared in reported trailing results.
The negative trailing P/E of -1.44 makes earnings-based comparison unreliable, so EV/EBITDA and forward multiples carry more analytical weight. The compression from 13.10x to 4.74x implies consensus expects a sharp EBITDA rebound, which investors should test against production and LNS timing. Relative to peers such as APA at 3.80x and SM at 4.76x EV/EBITDA, the forward multiple appears in line rather than cheap, so the discount depends on delivery rather than on a visible mispricing.
Elevated Debt Burden Versus Thin Coverage
As reported in financial statements, KOS carried a debt-to-equity ratio of 3.98 and a debt-to-EBITDA of 9.24 in the latest quarter, with interest coverage of just 0.53, levels that leave limited room for further commodity weakness.
Interest coverage below 1.0x in the latest quarter, following a 6.26x reading in Q2 2026, indicates that operating earnings did not comfortably cover interest costs and that the swing has been driven by volatile quarterly results. Debt-to-EBITDA of 9.24 is well above the 2.5x to 3.5x range typically viewed as manageable for E&P issuers, which warrants monitoring of refinancing terms. The direction of improvement from a 5.80 D/E peak in Q4 2025 is encouraging, but the level remains stressed.
Margin Volatility Undermines Earnings Durability
Based on KOS's reported quarterly figures, gross margin swung from -51.0% in Q4 2025 to 70.5% in Q2 2026, a range too wide to reflect operating economics alone and suggestive of impairments or derivative effects.
The lack of a stable margin trajectory makes it difficult to establish true earning power from reported net income. Operating margin of 42.2% in Q3 2026 appears more representative of underlying field economics than the net margin of -10.5%, which is depressed by non-operating and non-cash items. Investors should anchor on EBITDAX rather than headline net income when assessing sustainable profitability.
Current Ratio Below Unity Signals Strain
As reported in financial statements, KOS's current ratio of 0.54 and quick ratio of 0.34 in Q3 2026 indicate that short-term obligations exceed liquid assets, leaving the company dependent on operating cash flow or refinancing to meet near-term commitments.
A current ratio below 1.0x has persisted across the ten-quarter window, with readings between 0.45 and 0.76, suggesting a structural rather than seasonal liquidity constraint. The low quick ratio implies limited reliance on receivables or cash to cover obligations. Under a severe oil price decline, this position would likely require accelerated asset sales or new financing, and the available data does not reveal committed facilities that would offset this exposure.
Misapplied Debt-to-Equity Obscures Asset Value
The debt-to-equity ratio is most commonly misapplied to KOS, as it can overstate leverage when book equity has been reduced by impairments while the value of proved reserves and development assets is not captured on the balance sheet.
Shareholders' equity fell to $669.2M in Q3 2026 after accumulated losses, mechanically inflating D/E to 3.98 even though total debt has been broadly stable. Reserve-based metrics such as net debt to PV-10 or debt per flowing barrel would better reflect the economic claim of creditors against the asset base. Investors should treat the headline D/E as an accounting-sensitive measure rather than a precise solvency indicator.