Latest Ratios: P/E Ratio 29.3x · EV/EBITDA 17.8x · ROE 21.4%. (2012–2025 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 | $6.5B | $4.6B | $6.4B | $4.4B | $3.6B | $1.9B | $730M | $823M | $618M | $795M | $281M |
| Enterprise Value | $6.8B | $4.8B | $6.1B | $4.3B | $3.8B | $2.0B | $887M | $924M | $771M | $987M | $508M |
| P/E Ratio → | 29.32 | 19.52 | 20.52 | 13.33 | 127.40 | — | — | 25.96 | 15.19 | 6.45 | 10.49 |
| P/S Ratio | 4.22 | 2.95 | 4.18 | 3.36 | 3.85 | 4.59 | 2.15 | 2.37 | 1.80 | 2.40 | 0.93 |
| P/B Ratio | 6.28 | 4.18 | 5.89 | 5.34 | 8.05 | 4.20 | 1.42 | 7.18 | 8.71 | 34.15 | — |
| P/FCF | 18.38 | 12.87 | 13.00 | 16.83 | 13.67 | 46.67 | 186.20 | 14.11 | 15.06 | 21.36 | 6.65 |
| P/OCF | 16.68 | 11.67 | 11.77 | 14.27 | 12.78 | 36.16 | 44.54 | 10.23 | 10.10 | 14.52 | 5.66 |
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 | — | 3.12 | 3.99 | 3.28 | 4.03 | 4.80 | 2.61 | 2.66 | 2.25 | 2.98 | 1.68 |
| EV / EBITDA | 17.77 | 12.64 | 11.73 | 10.03 | 44.81 | — | 43.27 | 14.21 | 9.84 | 13.91 | 6.78 |
| EV / EBIT | 21.78 | 14.44 | 13.57 | 9.88 | 111.17 | — | — | 21.88 | 11.52 | 17.01 | 9.25 |
| EV / FCF | — | 13.60 | 12.40 | 16.46 | 14.31 | 48.89 | 226.05 | 15.85 | 18.78 | 26.51 | 12.02 |
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 | 61.1% | 61.1% | 64.4% | 54.7% | 62.2% | 44.1% | 40.9% | 50.3% | 50.9% | 48.9% | 45.6% |
| Operating Margin | 20.2% | 20.2% | 29.8% | 28.1% | 3.9% | -14.3% | -1.2% | 14.9% | 18.8% | 15.6% | 18.7% |
| Net Profit Margin | 15.2% | 15.2% | 20.4% | 25.2% | 3.0% | -16.8% | -4.0% | 9.1% | 11.8% | 37.2% | 8.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 21.4% | 21.4% | 32.8% | 51.7% | 6.2% | -14.6% | -4.3% | 34.1% | 85.9% | 529.8% | — |
| ROA | 11.1% | 11.1% | 17.2% | 22.0% | 2.6% | -8.2% | -2.1% | 7.5% | 9.8% | 38.6% | 10.7% |
| ROIC | 21.7% | 21.7% | 45.3% | 41.0% | 4.6% | -7.4% | -0.7% | 17.6% | 22.0% | 23.2% | 32.6% |
| ROCE | 17.1% | 17.1% | 28.5% | 28.7% | 3.9% | -7.8% | -0.7% | 14.2% | 17.8% | 18.9% | 27.0% |
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 | 0.57 | 0.57 | 0.57 | 0.76 | 1.30 | 0.41 | 0.46 | 1.70 | 3.75 | 11.51 | — |
| Debt / EBITDA | 1.63 | 1.63 | 1.19 | 1.45 | 6.94 | — | 11.51 | 2.99 | 3.40 | 3.78 | 3.72 |
| Net Debt / Equity | — | 0.24 | -0.27 | -0.12 | 0.38 | 0.20 | 0.30 | 0.89 | 2.16 | 8.24 | — |
| Net Debt / EBITDA | 0.68 | 0.68 | -0.56 | -0.23 | 2.00 | — | 7.63 | 1.56 | 1.95 | 2.70 | 3.03 |
| Debt / FCF | — | 0.74 | -0.59 | -0.37 | 0.64 | 2.22 | 39.85 | 1.74 | 3.73 | 5.15 | 5.37 |
| Interest Coverage | 16.89 | 16.89 | 22.91 | 21.53 | 4.72 | -8.68 | -0.21 | 3.10 | 3.85 | 3.15 | 2.06 |
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 | 2.70 | 2.70 | 5.52 | 5.80 | 2.74 | 2.61 | 2.29 | 2.62 | 3.70 | 3.16 | 2.53 |
| Quick Ratio | 2.51 | 2.51 | 5.23 | 5.45 | 2.59 | 2.22 | 1.84 | 2.17 | 3.08 | 2.60 | 2.13 |
| Cash Ratio | 1.08 | 1.08 | 3.80 | 3.81 | 1.68 | 1.09 | 0.99 | 1.41 | 2.15 | 1.63 | 1.17 |
| Asset Turnover | — | 0.69 | 0.77 | 0.79 | 0.71 | 0.49 | 0.39 | 0.86 | 0.78 | 0.86 | 1.18 |
| Inventory Turnover | 9.27 | 9.27 | 8.02 | 9.17 | 9.96 | 6.76 | 5.61 | 5.91 | 5.10 | 6.49 | 9.30 |
| Days Sales Outstanding | — | 84.91 | 76.44 | 80.04 | 83.30 | 76.69 | 58.07 | 45.74 | 46.51 | 44.34 | 44.52 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.4% | 5.1% | 4.9% | 7.5% | 0.8% | — | — | 3.9% | 6.6% | 15.5% | 9.5% |
| FCF Yield | 5.4% | 7.8% | 7.7% | 5.9% | 7.3% | 2.1% | 0.5% | 7.1% | 6.6% | 4.7% | 15.0% |
| Buyback Yield | 4.6% | 6.6% | 1.6% | 0.0% | 2.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.6% | 6.6% | 1.6% | 0.0% | 2.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $68M | $72M | $70M | $71M | $67M | $54M | $40M | $40M | $39M | $33M |
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying LNTH stock.
Lantheus Holdings, Inc.'s current P/E ratio is 29.3x. The historical average is 29.9x. This places it at the 88th percentile of its historical range.
Lantheus Holdings, Inc.'s current EV/EBITDA is 17.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.4x.
Lantheus Holdings, Inc.'s return on equity (ROE) is 21.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 26.7%.
Based on historical data, Lantheus Holdings, Inc. is trading at a P/E of 29.3x. This is at the 88th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Lantheus Holdings, Inc. has 61.1% gross margin and 20.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Lantheus Holdings, Inc.'s Debt/EBITDA ratio is 1.6x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Revenue stagnation and margin volatility
Metrics are mathematically derived from official filings.
Premium Multiple on Decelerating Growth
LNTH trades at 29.6x trailing earnings and 17.9x EV/EBITDA, but forward multiples drop to 18.8x and 8.3x, implying the market expects a sharp earnings rebound. According to current valuation data, the stock is priced for a return to historical growth.
The steep discount between trailing and forward multiples suggests the market is looking through the recent earnings volatility, which included a loss in 2024Q4 and a tax-driven spike in 2026Q1. The forward EV/EBITDA of 8.3x is well below the trailing 17.9x, implying a significant EBITDA expansion that may be optimistic given the decelerating revenue trend. Investors should monitor whether the company can deliver the implied earnings growth, as the current valuation offers little room for disappointment.
Margin Compression Amidst Stable Core
Gross margin fell from 68.1% in 2024Q1 to 62.3% in 2026Q2, a 580 basis point decline, while operating margin swung from 35.3% to 25.8%. As reported in quarterly financials, this suggests eroding pricing power or rising input costs.
The gross margin decline is a key concern, as it indicates that the company is unable to fully offset cost pressures or maintain pricing in a competitive environment. Operating margin volatility is partly due to non-recurring items, but the underlying trend is downward, with the 2026Q2 operating margin of 25.8% still respectable but below the 2024 peak. Net margin is heavily influenced by tax items and one-off gains, as seen in the 31.4% net margin in 2026Q1 versus 7.2% in 2025Q3, so investors should focus on gross and operating margins for a clearer picture of earning power.
ROIC Volatility Masks Underlying Stability
ROIC has ranged from 2.7% to 11.0% over the past ten quarters, with the latest at 5.7%, reflecting a business that is not consistently compounding returns. Based on reported figures, the company's capital efficiency is highly variable.
The wide swings in ROIC are driven by both fluctuating operating income and a growing capital base, particularly after the goodwill increase in 2025Q2. The 2026Q1 ROIC of 4.4% is below the 2024 average of around 9.5%, suggesting that recent acquisitions have not yet generated returns commensurate with their cost. Investors should monitor whether management can improve capital allocation, as the current trend indicates a potential decay in return on invested capital.
Working Capital Drag from DSO and CCC
Days sales outstanding rose from 76 days in 2024Q1 to 83 days in 2026Q2, while the cash conversion cycle remained elevated at 91 days. According to quarterly data, the company is taking longer to collect receivables, tying up cash.
The increase in DSO suggests that customers are taking longer to pay, which could indicate a shift in product mix or a loosening of credit terms to drive sales. The cash conversion cycle has been consistently above 90 days, which is high for a specialty pharmaceutical company and may reflect the nature of its radiopharmaceutical business. While the company has strong free cash flow margins, the working capital inefficiency is a drag on cash generation and warrants monitoring.
Deleveraging Trend with Adequate Coverage
Debt-to-equity improved from 0.65 in 2024Q1 to 0.44 in 2026Q2, while interest coverage remained strong at 20.1x. As reported in financial statements, the company is reducing leverage and comfortably servicing its debt.
The deleveraging trend is a positive, as total debt declined from $617.3M to $571.1M over the period, and the D/EBITDA ratio, though elevated at 4.88x in 2026Q2, has improved from the 9.68x peak in 2025Q3. Interest coverage of 20.1x indicates that debt service is not a concern, but the D/EBITDA level is still above the 4.0x threshold that some investors consider comfortable. The company's ability to generate strong cash flow supports its debt obligations, but the goodwill on the balance sheet could pose a risk if impairments occur.
Strong Liquidity Buffer with High Current Ratio
The current ratio stood at 3.06 in 2026Q2, down from 5.74 in 2025Q1 but still robust, with cash of $593.3M. Based on reported balance sheet data, the company has ample short-term liquidity.
The decline in the current ratio from its peak is partly due to increased debt and changes in working capital, but the ratio remains well above 1.0, indicating a strong ability to meet short-term obligations. The quick ratio of 2.89 suggests that even without inventory, the company can cover its current liabilities. This liquidity buffer provides a cushion against operational disruptions or market downturns, though the company's reliance on intangible assets and goodwill could be a concern if impairments occur.
Misapplied Metric: P/E on Volatile Earnings
The trailing P/E of 29.6x is misleading because net income is heavily impacted by one-time tax items and non-operating gains, as seen in the swing from a loss in 2024Q4 to a 31.4% net margin in 2026Q1. Investors should use EV/EBITDA or P/FCF instead.
The P/E ratio is commonly used for pharmaceutical companies, but for LNTH, reported earnings are not a reliable indicator of underlying profitability due to significant volatility from tax effects and other non-recurring items. For example, the 2024Q4 net margin was -3.0% while the 2026Q1 net margin was 31.4%, a swing that is not reflective of operational performance. A more appropriate valuation metric is EV/EBITDA, which smooths out these distortions, or P/FCF, which reflects the company's strong cash generation. Investors should focus on these metrics to avoid being misled by the P/E.