Latest Ratios: P/E Ratio 20.2x · EV/EBITDA 7.7x · ROE 4.6%. (1996–2025 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 | $7.3B | $6.8B | $7.6B | $6.6B | $6.5B | $12.6B | $10.1B | $9.9B | $8.7B | $20.6B | $14.9B |
| Enterprise Value | $8.9B | $8.4B | $9.5B | $9.1B | $9.3B | $15.1B | $12.4B | $12.6B | $11.9B | $23.3B | $17.3B |
| P/E Ratio → | 20.18 | 18.43 | 14.64 | — | 262.10 | 12.19 | 19.52 | 13.24 | 10.15 | 21.26 | 16.00 |
| P/S Ratio | 0.68 | 0.63 | 0.70 | 0.59 | 0.56 | 1.12 | 1.05 | 0.99 | 0.88 | 2.18 | 1.66 |
| P/B Ratio | 0.89 | 0.81 | 1.00 | 0.86 | 0.82 | 1.49 | 1.18 | 1.21 | 1.18 | 2.92 | 2.57 |
| P/FCF | 11.84 | 11.07 | 11.15 | 9.27 | 74.07 | 19.90 | 7.49 | 11.29 | 22.58 | 71.80 | 22.72 |
| P/OCF | 6.91 | 6.46 | 6.68 | 4.98 | 9.79 | 9.62 | 5.69 | 6.95 | 7.40 | 17.30 | 11.22 |
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 | — | 0.78 | 0.88 | 0.82 | 0.79 | 1.34 | 1.29 | 1.27 | 1.19 | 2.46 | 1.93 |
| EV / EBITDA | 7.65 | 7.25 | 7.16 | 26.56 | 11.03 | 7.81 | 9.94 | 8.99 | 7.35 | 12.95 | 10.23 |
| EV / EBIT | 17.45 | 17.31 | 13.73 | — | 39.27 | 11.17 | 19.41 | 15.96 | 10.92 | 17.29 | 13.48 |
| EV / FCF | — | 13.67 | 14.04 | 12.80 | 104.73 | 23.78 | 9.20 | 14.45 | 30.69 | 81.11 | 26.36 |
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 | 23.9% | 23.9% | 24.8% | 24.3% | 25.1% | 29.2% | 25.4% | 26.8% | 28.4% | 31.6% | 31.4% |
| Operating Margin | 4.7% | 4.7% | 6.4% | -2.6% | 2.1% | 11.9% | 6.7% | 8.3% | 11.0% | 14.3% | 14.3% |
| Net Profit Margin | 3.4% | 3.4% | 4.8% | -3.9% | 0.2% | 9.2% | 5.4% | 7.5% | 8.6% | 10.2% | 10.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.6% | 4.6% | 6.8% | -5.6% | 0.3% | 12.2% | 6.2% | 9.6% | 11.9% | 15.1% | 17.5% |
| ROA | 2.8% | 2.8% | 3.9% | -3.2% | 0.2% | 7.2% | 3.7% | 5.6% | 6.8% | 8.7% | 9.2% |
| ROIC | 3.9% | 3.9% | 5.3% | -2.1% | 1.7% | 9.2% | 4.4% | 5.8% | 8.1% | 11.3% | 11.9% |
| ROCE | 4.8% | 4.8% | 6.8% | -2.7% | 2.2% | 11.5% | 5.6% | 8.1% | 11.4% | 16.0% | 18.0% |
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 | 0.29 | 0.29 | 0.35 | 0.41 | 0.40 | 0.32 | 0.36 | 0.36 | 0.44 | 0.39 | 0.43 |
| Debt / EBITDA | 2.11 | 2.11 | 1.97 | 9.20 | 3.84 | 1.42 | 2.47 | 2.07 | 2.01 | 1.53 | 1.49 |
| Net Debt / Equity | — | 0.19 | 0.26 | 0.33 | 0.34 | 0.29 | 0.27 | 0.34 | 0.42 | 0.38 | 0.41 |
| Net Debt / EBITDA | 1.38 | 1.38 | 1.47 | 7.32 | 3.23 | 1.28 | 1.85 | 1.97 | 1.94 | 1.49 | 1.41 |
| Debt / FCF | — | 2.60 | 2.89 | 3.53 | 30.66 | 3.88 | 1.71 | 3.17 | 8.11 | 9.31 | 3.65 |
| Interest Coverage | 27.33 | 27.33 | 14.32 | -3.57 | 4.54 | 23.53 | 12.16 | 19.16 | 28.02 | 43.36 | 31.61 |
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 | 2.19 | 2.19 | 2.06 | 1.78 | 1.92 | 1.78 | 2.26 | 1.63 | 1.38 | 1.53 | 1.28 |
| Quick Ratio | 1.21 | 1.21 | 1.12 | 0.97 | 1.01 | 0.97 | 1.46 | 0.79 | 0.68 | 0.80 | 0.66 |
| Cash Ratio | 0.31 | 0.31 | 0.25 | 0.20 | 0.22 | 0.20 | 0.57 | 0.07 | 0.04 | 0.03 | 0.04 |
| Asset Turnover | — | 0.79 | 0.85 | 0.82 | 0.83 | 0.79 | 0.67 | 0.74 | 0.76 | 0.78 | 0.88 |
| Inventory Turnover | 3.08 | 3.08 | 3.24 | 3.30 | 3.15 | 3.32 | 3.72 | 3.20 | 3.12 | 3.33 | 3.67 |
| Days Sales Outstanding | — | 65.12 | 60.77 | 61.45 | 59.23 | 59.96 | 65.32 | 55.89 | 58.72 | 59.92 | 56.07 |
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 | 5.0% | 5.4% | 6.8% | — | 0.4% | 8.2% | 5.1% | 7.6% | 9.8% | 4.7% | 6.3% |
| FCF Yield | 8.4% | 9.0% | 9.0% | 10.8% | 1.4% | 5.0% | 13.4% | 8.9% | 4.4% | 1.4% | 4.4% |
| Buyback Yield | 2.1% | 2.2% | 2.1% | 0.0% | 4.7% | 7.1% | 1.9% | 1.0% | 3.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.1% | 2.2% | 2.1% | 0.0% | 4.7% | 7.1% | 1.9% | 1.0% | 3.1% | 0.0% | 0.0% |
| Shares Outstanding | — | $62M | $64M | $64M | $64M | $69M | $71M | $72M | $75M | $75M | $75M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying MHK stock.
Mohawk Industries, Inc.'s current P/E ratio is 20.2x. The historical average is 16.9x. This places it at the 69th percentile of its historical range.
Mohawk Industries, Inc.'s current EV/EBITDA is 7.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.8x.
Mohawk Industries, Inc.'s return on equity (ROE) is 4.6%. The historical average is 10.2%.
Based on historical data, Mohawk Industries, Inc. is trading at a P/E of 20.2x. This is at the 69th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Mohawk Industries, Inc. has 23.9% gross margin and 4.7% operating margin.
Mohawk Industries, Inc.'s Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Margin compression from input costs
Metrics are mathematically derived from official filings.
Margin Recovery Amid Structural Gap
Gross margin improved to 26.6% in Q2 2026 from 25.5% a year earlier, but remains well below Armstrong's 40.6% and Interface's 38.7%, per reported figures.
The sequential improvement in gross margin from 23.5% in Q1 2026 to 26.6% in Q2 2026 suggests that cost discipline and favorable mix are driving the earnings beat, not volume growth. However, the persistent gap versus peers indicates a structural cost disadvantage inherent to Mohawk's high-fixed-cost, vertically integrated model. Operating margin expansion to 8.5% from 6.7% year-over-year reflects improved overhead efficiency, but the thin net margin of 6.6% leaves little buffer against input cost spikes.
Returns Recovering from Cyclical Lows
ROIC improved to 1.9% in Q2 2026 from 1.4% a year earlier, but remains far below Armstrong's 24.9% and Interface's 11.3%, per reported figures.
The sequential rise in ROIC from 0.8% in Q1 2026 to 1.9% in Q2 2026 suggests that the company is beginning to recover from a cyclical trough, driven by margin expansion rather than asset efficiency. However, the absolute level of returns remains depressed, reflecting the capital-intensive nature of the business and the current underutilization of its massive manufacturing footprint. ROE of 2.3% and ROA of 1.4% are similarly low, indicating that the company is not yet generating adequate returns on its invested capital, though the trend is improving.
Working Capital Drag Persists
Cash conversion cycle lengthened to 125 days in Q2 2026 from 129 days a year earlier, with DSO at 67 days and DIO at 109 days, per reported figures.
The slight improvement in CCC from 129 to 125 days year-over-year is modest, but the absolute level remains high, indicating significant capital tied up in receivables and inventory. DSO of 67 days and DIO of 109 days suggest that Mohawk's customer and inventory management are less efficient than peers, though the company's high-weight, low-value products necessitate larger inventories. The DPO of 50 days indicates that Mohawk is not leveraging supplier credit as aggressively as it could, which may reflect its strong bargaining position but also leaves cash tied up in operations.
Deleveraging Enhances Financial Flexibility
Debt-to-equity improved to 0.28 in Q2 2026 from 0.40 a year earlier, while interest coverage rose to 52.77 from 16.86, per reported figures.
The consistent reduction in leverage over the past ten quarters, with total debt declining from $3.1B to $2.4B, suggests a deliberate deleveraging strategy that strengthens the balance sheet. Interest coverage of 52.77 in Q2 2026 is exceptionally strong, indicating that debt service is highly comfortable even if earnings were to decline. This improved financial flexibility provides a cushion against cyclical downturns and supports the company's ability to invest in its high-fixed-cost operations.
Liquidity Buffer Strengthens
Current ratio improved to 1.92 in Q2 2026 from 1.83 a year earlier, with cash at $849.6M, per reported figures, providing a solid short-term cushion.
The current ratio of 1.92 indicates that Mohawk has ample short-term assets to cover its liabilities, and the quick ratio of 1.13 suggests that even without inventory, the company can meet its obligations. The build-up of cash to $849.6M, combined with the low debt levels, suggests that the company is well-positioned to weather a prolonged downturn. However, the high inventory levels, which are inherent to the business model, mean that the quick ratio is a more conservative measure of liquidity, and it remains above 1.0, indicating adequate coverage.
P/E Misleads on Cyclical Earnings
The trailing P/E of 22.97 appears elevated, but the forward P/E of 14.52 better reflects normalized earnings, per reported figures, as cyclical trough earnings distort the multiple.
The most commonly misapplied ratio for Mohawk is the trailing P/E, which is distorted by the cyclical trough in earnings. The trailing P/E of 22.97 is misleading because it is based on depressed earnings, while the forward P/E of 14.52 suggests that the market is pricing in a recovery. Investors should instead focus on EV/EBITDA, which at 8.52 is more stable and reflects the company's enterprise value relative to its cash-generating ability. Additionally, the P/B of 1.01 indicates that the stock is trading near book value, which may be more relevant for a capital-intensive business like Mohawk.