Latest Ratios: P/E Ratio 8.6x · EV/EBITDA 4.2x · ROE 13.3%. (2009–2025 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 | $5.3B | $7.0B | $6.8B | $6.9B | $4.4B | $1.4B | $2.1B | $1.8B | $3.2B | $2.4B |
| Enterprise Value | $9.9B | $8.8B | $9.1B | $9.0B | $7.6B | $5.9B | $3.2B | $3.7B | $3.0B | $3.7B | $2.7B |
| P/E Ratio → | 8.56 | 6.97 | 7.88 | 8.07 | 5.66 | 7.52 | — | 17.11 | 6.44 | 25.31 | — |
| P/S Ratio | 1.77 | 1.45 | 2.01 | 2.42 | 2.25 | 2.65 | 1.64 | 2.05 | 1.96 | 5.86 | 8.89 |
| P/B Ratio | 1.08 | 0.88 | 1.28 | 1.65 | 2.07 | 2.07 | 0.93 | 1.07 | 0.99 | 2.54 | 3.40 |
| P/FCF | 26.78 | 21.88 | 24.93 | 21.45 | 7.69 | 13.75 | — | — | — | — | — |
| P/OCF | 2.67 | 2.18 | 3.11 | 3.65 | 3.48 | 4.18 | 2.93 | 3.81 | 2.90 | 10.67 | 17.53 |
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 | — | 2.39 | 2.61 | 3.21 | 2.48 | 3.55 | 3.76 | 3.56 | 3.33 | 6.74 | 10.26 |
| EV / EBITDA | 4.16 | 3.66 | 3.77 | 4.69 | 3.41 | 5.18 | — | 6.25 | 4.76 | 10.80 | — |
| EV / EBIT | 8.38 | 7.05 | 6.32 | 7.42 | 4.33 | 7.48 | — | 15.77 | 8.99 | 22.32 | — |
| EV / FCF | — | 36.23 | 32.40 | 28.42 | 8.49 | 18.48 | — | — | — | — | — |
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 | 43.7% | 43.7% | 44.3% | 47.4% | 61.4% | 53.6% | 25.8% | 35.2% | 48.3% | 41.9% | 14.3% |
| Operating Margin | 32.5% | 32.5% | 41.2% | 42.9% | 57.5% | 47.7% | -61.0% | 22.9% | 40.4% | 29.6% | -67.0% |
| Net Profit Margin | 20.8% | 20.8% | 25.4% | 30.0% | 39.7% | 35.2% | -69.4% | 8.5% | 30.5% | 23.1% | -36.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.3% | 13.3% | 18.5% | 22.7% | 44.6% | 32.1% | -34.1% | 4.7% | 18.1% | 12.9% | -16.5% |
| ROA | 6.7% | 6.7% | 9.5% | 12.7% | 24.7% | 14.7% | -15.3% | 2.3% | 9.8% | 7.0% | -7.5% |
| ROIC | 10.5% | 10.5% | 15.5% | 17.5% | 34.4% | 17.1% | -11.4% | 5.4% | 11.5% | 8.7% | -13.9% |
| ROCE | 11.5% | 11.5% | 17.0% | 20.1% | 40.1% | 22.0% | -14.8% | 6.9% | 14.6% | 10.2% | -15.4% |
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 | 0.59 | 0.59 | 0.39 | 0.55 | 0.37 | 0.73 | 1.24 | 0.81 | 0.73 | 0.46 | 0.83 |
| Debt / EBITDA | 1.48 | 1.48 | 0.88 | 1.18 | 0.55 | 1.37 | — | 2.73 | 2.06 | 1.69 | — |
| Net Debt / Equity | — | 0.58 | 0.38 | 0.54 | 0.22 | 0.71 | 1.20 | 0.79 | 0.69 | 0.38 | 0.52 |
| Net Debt / EBITDA | 1.45 | 1.45 | 0.87 | 1.15 | 0.32 | 1.33 | — | 2.66 | 1.96 | 1.41 | — |
| Debt / FCF | — | 14.35 | 7.47 | 6.97 | 0.80 | 4.73 | — | — | — | — | — |
| Interest Coverage | 5.96 | 5.96 | 8.36 | 10.02 | 26.10 | 10.58 | -6.81 | 3.15 | 8.07 | 4.76 | -2.48 |
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 | 0.79 | 0.79 | 0.93 | 1.04 | 1.86 | 0.80 | 0.90 | 0.70 | 0.93 | 0.91 | 1.65 |
| Quick Ratio | 0.75 | 0.75 | 0.89 | 0.98 | 1.83 | 0.77 | 0.86 | 0.67 | 0.87 | 0.89 | 1.63 |
| Cash Ratio | 0.08 | 0.08 | 0.02 | 0.08 | 0.88 | 0.10 | 0.20 | 0.10 | 0.20 | 0.34 | 1.26 |
| Asset Turnover | — | 0.31 | 0.32 | 0.36 | 0.55 | 0.39 | 0.23 | 0.25 | 0.26 | 0.25 | 0.18 |
| Inventory Turnover | 46.92 | 46.92 | 50.35 | 35.48 | 77.72 | 63.30 | 59.94 | 62.02 | 26.50 | 52.75 | 74.44 |
| Days Sales Outstanding | — | 52.89 | 68.69 | 61.27 | 48.44 | 52.99 | 51.18 | 67.26 | 59.30 | 94.70 | 80.98 |
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 | 2.5% | 3.1% | 1.5% | 1.1% | 0.5% | 0.3% | — | — | — | — | — |
| Payout Ratio | 21.5% | 21.5% | 11.8% | 9.1% | 2.9% | 2.5% | — | — | — | — | — |
| 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% | 14.3% | 12.7% | 12.4% | 17.7% | 13.3% | — | 5.8% | 15.5% | 4.0% | — |
| FCF Yield | 3.7% | 4.6% | 4.0% | 4.7% | 13.0% | 7.3% | — | — | — | — | — |
| Buyback Yield | 0.9% | 1.1% | 0.0% | 0.3% | 0.3% | 0.2% | 0.1% | 0.2% | 0.4% | 0.2% | 0.1% |
| Total Shareholder Yield | 3.4% | 4.1% | 1.5% | 1.5% | 0.8% | 0.5% | 0.1% | 0.2% | 0.4% | 0.2% | 0.1% |
| Shares Outstanding | — | $125M | $124M | $120M | $120M | $119M | $116M | $117M | $114M | $103M | $91M |
Includes 30+ ratios · 17 years · Updated daily
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Quick answers to the most common questions about buying MTDR stock.
Matador Resources Company's current P/E ratio is 8.6x. The historical average is 12.2x. This places it at the 60th percentile of its historical range.
Matador Resources Company's current EV/EBITDA is 4.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.3x.
Matador Resources Company's return on equity (ROE) is 13.3%. The historical average is 1.4%.
Based on historical data, Matador Resources Company is trading at a P/E of 8.6x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Matador Resources Company's current dividend yield is 2.51% with a payout ratio of 21.5%.
Matador Resources Company has 43.7% gross margin and 32.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Matador Resources Company's Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Integration and commodity price volatility
Metrics are mathematically derived from official filings.
Margin Volatility Masks Underlying Strength
Gross margin swung from 2.6% in 2025Q4 to 87.6% in 2026Q2, per reported figures, yet operating margin held near 49%, suggesting robust core profitability despite accounting noise.
The extreme gross margin swing likely reflects one-time COGS adjustments, as operating margin remained elevated at 48.7% in 2026Q2, per the data. This suggests the underlying business is generating strong cash margins, but investors should monitor the sustainability of such margins given commodity price sensitivity. The 2025Q4 gross margin of 2.6% appears anomalous and may distort trend analysis.
ROIC Recovery After Capex Surge
ROIC improved to 4.6% in 2026Q2 from 1.7% in 2025Q4, per reported data, as capital efficiency rebounded following a period of heavy investment, though returns remain modest.
The sequential improvement in ROIC suggests that the recent capital expenditures, including acquisitions, are beginning to generate returns. However, ROIC remains below the cost of capital, indicating that the company is still in a growth phase where returns are not yet fully realized. The increase in asset turnover from 0.07 to 0.09 in 2026Q2, per the data, supports the view that efficiency is improving.
Negative CCC Reflects Midstream Leverage
Cash conversion cycle turned sharply negative to -392 days in 2026Q2, per reported figures, driven by a DPO of 475 days, indicating significant supplier financing or timing effects.
The negative CCC is largely due to an unusually high DPO, which may reflect acquisition-related payables or timing of capital expenditures. This suggests the company is effectively using supplier credit to fund operations, but such extreme levels are unlikely to be sustainable. Investors should monitor whether this normalizes, as it could indicate working capital management that is not repeatable.
Leverage Creeps Higher with Expansion
Debt-to-equity rose to 0.53 in 2026Q2 from 0.39 in 2024Q4, per reported data, while interest coverage improved to 9.43x, indicating manageable but increasing leverage.
The increase in leverage is consistent with the company's acquisition strategy, but interest coverage remains comfortable at 9.43x in 2026Q2, per the data. However, the D/EBITDA ratio of 3.69x suggests that debt levels are within industry norms but warrant monitoring if commodity prices decline. The consolidation of the San Mateo JV may understate true leverage, as non-controlling interests are not separately disclosed.
Liquidity Buffer Thins Despite Cash Flow
Current ratio fell to 0.65 in 2026Q2 from 0.93 in 2024Q4, per reported figures, with cash at $26.3M, indicating a tighter liquidity position against short-term obligations.
The declining current ratio suggests that Matador is relying more on operating cash flow and credit facilities to meet short-term obligations, which is typical for E&Ps but increases vulnerability to commodity price shocks. The quick ratio of 0.62 in 2026Q2, per the data, indicates that inventory is not a significant buffer, as is common in this sector. Investors should monitor the company's ability to refinance or generate cash if prices fall.
Misapplied EV/EBITDA in Integrated Model
EV/EBITDA of 4.13x, per reported data, may understate Matador's value because it fails to capture the midstream segment's stable fee-based income, which supports cash flow.
The market often applies a pure-play E&P multiple to Matador, but its integrated midstream JV provides a hedge against basis blowouts and generates third-party revenue. This suggests that EV/EBITDA may be too simplistic, as it does not separate the higher-quality midstream earnings. Investors should consider a sum-of-the-parts valuation or adjust EBITDA for non-controlling interests to better reflect the company's true earning power.