Latest Ratios: P/E Ratio 20.7x · EV/EBITDA 5.6x · ROE 22.6%. (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 | $1.5B | $1.1B | $162M | $119M | $1.2B | — | — | — | — | — | — |
| Enterprise Value | $1.7B | $1.3B | $458M | $373M | $1.4B | — | — | — | — | — | — |
| P/E Ratio → | 20.66 | 15.71 | 3.26 | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.70 | 1.27 | 0.34 | 0.48 | 5.50 | — | — | — | — | — | — |
| P/B Ratio | 3.45 | 2.63 | 0.80 | 1.50 | 10.02 | — | — | — | — | — | — |
| P/FCF | 6.07 | 4.53 | 7.75 | — | 33.53 | — | — | — | — | — | — |
| P/OCF | 6.00 | 4.48 | 6.98 | 94.73 | 23.84 | — | — | — | — | — | — |
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 | — | 1.46 | 0.95 | 1.51 | 6.56 | — | — | — | — | — | — |
| EV / EBITDA | 5.59 | 4.32 | 3.06 | — | — | — | — | — | — | — | — |
| EV / EBIT | 6.01 | 4.79 | 3.53 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 5.20 | 21.98 | — | 40.01 | — | — | — | — | — | — |
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 | 50.8% | 50.8% | 40.9% | 14.0% | 7.0% | 54.1% | 57.5% | 100.0% | 31.8% | -952.0% | — |
| Operating Margin | 31.5% | 31.5% | 27.2% | -12.8% | -185.4% | 51.4% | 55.9% | 35.8% | -2003.4% | -10611.8% | — |
| Net Profit Margin | 8.1% | 8.1% | 10.9% | -18.5% | -193.7% | 40.0% | 38.7% | 21.6% | -3080.0% | 1085.0% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.6% | 22.6% | 37.1% | -45.9% | -272.4% | 78.2% | 106.9% | 84.8% | -645.7% | 24.6% | — |
| ROA | 9.0% | 9.0% | 9.9% | -11.0% | -102.8% | 37.7% | 43.4% | 23.3% | -149.0% | 30.3% | -182.4% |
| ROIC | 38.0% | 38.0% | 23.6% | -6.9% | -88.7% | 42.1% | 52.8% | 32.0% | -109.4% | -155.5% | — |
| ROCE | 43.2% | 43.2% | 30.6% | -8.9% | -110.8% | 53.7% | 79.7% | 65.2% | -206.3% | -240.3% | — |
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 | 0.83 | 0.83 | 1.69 | 3.49 | 2.22 | 0.93 | 1.02 | 2.36 | — | 0.16 | — |
| Debt / EBITDA | 1.19 | 1.19 | 2.27 | — | — | 1.00 | 0.94 | 3.23 | — | — | — |
| Net Debt / Equity | — | 0.39 | 1.47 | 3.21 | 1.94 | 0.74 | 0.85 | 2.20 | — | 0.16 | — |
| Net Debt / EBITDA | 0.56 | 0.56 | 1.98 | — | — | 0.80 | 0.78 | 3.01 | — | — | — |
| Debt / FCF | — | 0.68 | 14.23 | — | 6.48 | 1.04 | 4.89 | — | — | — | — |
| Interest Coverage | 12.01 | 12.01 | 6.51 | -1.97 | -32.60 | 28.35 | 23.66 | 10.09 | -1.31 | -15.35 | -173.90 |
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 | 3.41 | 3.41 | 2.08 | 1.56 | 1.79 | 4.09 | 4.31 | 0.63 | 0.29 | 0.06 | 0.08 |
| Quick Ratio | 3.39 | 3.39 | 2.06 | 1.50 | 1.72 | 4.01 | 4.25 | 0.62 | 0.27 | 0.06 | 0.08 |
| Cash Ratio | 1.18 | 1.18 | 0.31 | 0.38 | 0.62 | 0.96 | 0.81 | 0.11 | 0.11 | 0.01 | 0.00 |
| Asset Turnover | — | 0.95 | 0.73 | 0.62 | 0.51 | 0.84 | 0.89 | 0.54 | 0.20 | 0.02 | — |
| Inventory Turnover | 150.38 | 150.38 | 99.55 | 62.78 | 57.70 | 54.10 | 67.46 | — | 2.30 | — | — |
| Days Sales Outstanding | — | 135.71 | 179.52 | 92.52 | 97.06 | 126.34 | 144.04 | 135.91 | 743.60 | 42.55 | — |
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 | 5.1% | 6.7% | 4.0% | 4.4% | 4.2% | — | — | — | — | — | — |
| Payout Ratio | 104.9% | 104.9% | 12.3% | — | — | 108.9% | 55.7% | 90.3% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.8% | 6.4% | 30.6% | — | — | — | — | — | — | — | — |
| FCF Yield | 16.5% | 22.1% | 12.9% | — | 3.0% | — | — | — | — | — | — |
| Buyback Yield | 0.3% | 0.4% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — |
| Total Shareholder Yield | 5.4% | 7.1% | 4.0% | 4.4% | 4.2% | — | — | — | — | — | — |
| Shares Outstanding | — | $7M | $5M | $4M | $4M | $4M | $4M | $4M | $7M | $4M | $2M |
Includes 30+ ratios · 13 years · Updated daily
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Quick answers to the most common questions about buying NUTX stock.
Nutex Health, Inc.'s current P/E ratio is 20.7x. The historical average is 9.5x. This places it at the 100th percentile of its historical range.
Nutex Health, Inc.'s current EV/EBITDA is 5.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 3.7x.
Nutex Health, Inc.'s return on equity (ROE) is 22.6%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 2.5%.
Based on historical data, Nutex Health, Inc. is trading at a P/E of 20.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Nutex Health, Inc.'s current dividend yield is 5.08% with a payout ratio of 104.9%.
Nutex Health, Inc. has 50.8% gross margin and 31.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Nutex Health, Inc.'s Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Revenue volatility and negative SBC
Metrics are mathematically derived from official filings.
Margin Volatility Masks Underlying Earning Power
Gross margin swung from 15.1% in 2024Q1 to 67.0% in 2026Q2, with operating margin at 57.8% in the latest quarter, per reported figures, suggesting a highly variable cost structure.
The dramatic expansion in margins over the past two quarters appears to be driven by a one-time revenue mix shift or non-recurring items, as historical averages are far lower. Investors should monitor whether the 67.0% gross margin is sustainable or reverts to the mid-30s range seen in prior quarters. The negative stock-based compensation in some periods complicates the assessment of true operating profitability, warranting a closer look at cash-based margins.
Return on Capital Shows Cyclicality
ROIC improved from 0.3% in 2024Q1 to 13.9% in 2026Q2, but has been volatile, with negative ROE in 2025Q2, based on financial statements, indicating inconsistent capital efficiency.
The recent surge in ROIC to 13.9% is accompanied by a sharp rise in asset turnover from 0.17 to 0.22, but the underlying asset base has grown significantly, suggesting that returns may be driven by margin expansion rather than operational efficiency. The negative ROE in 2025Q2 highlights the fragility of earnings, and the company's ability to compound returns on capital remains unproven. Given the low capital intensity (capex ~0.8% of revenue), the high ROIC may not be sustainable without continued revenue growth.
Working Capital Cycle Lengthens Sharply
Cash conversion cycle expanded from 53 days in 2024Q1 to 119 days in 2026Q2, driven by DSO rising to 149 days, as per SEC filings, indicating deteriorating receivables collection.
The DSO increase from 54 days in 2024Q4 to 149 days in 2026Q2 suggests that revenue recognition is becoming less cash-efficient, possibly due to a shift in payer mix or billing delays. While the company holds a strong liquidity buffer, the lengthening CCC may strain future cash flows if receivables continue to grow. The DPO also rose to 36 days, but not enough to offset the DSO increase, implying that the company is financing its customers more than it is being financed by suppliers.
Leverage Declines as Debt Service Improves
Debt-to-equity fell from 3.40 in 2024Q1 to 0.51 in 2026Q2, while interest coverage rose to 26.06, based on reported figures, indicating a significantly strengthened balance sheet.
The deleveraging trend is supported by a reduction in total debt from $389.0M to $316.1M and a surge in equity to $507.3M, per balance sheet data. Interest coverage of 26.06 in 2026Q2 is a marked improvement from 0.52 in 2024Q3, suggesting that debt service is now comfortable. However, the D/EBITDA ratio of 2.49 is still moderate, and the company's earnings volatility could quickly erode coverage if margins revert to historical levels.
Liquidity Buffer Strengthens but Relies on Cash
Current ratio improved from 1.68 in 2024Q1 to 5.00 in 2026Q2, with cash at $205.2M, as per balance sheet data, providing a robust cushion against short-term obligations.
The quick ratio of 4.96 indicates that the liquidity position is not dependent on inventory, which is minimal. This strong liquidity appears to be a result of equity issuance and cash accumulation rather than operational cash generation, as evidenced by the negative retained earnings. Under a severe stress scenario, the company could cover its current liabilities multiple times, but the sustainability of this buffer depends on the company's ability to generate consistent cash flows from operations.
P/E Misleading Due to Earnings Volatility
The trailing P/E of 17.99 and forward P/E of 8.76 are unreliable given the extreme quarterly earnings swings, as reported in financial statements, obscuring the true valuation.
The most commonly misapplied ratio for Nutex Health is the P/E multiple, because net income has swung from -$17.7M to +$65.8M within a year, making any single P/E figure misleading. Instead, investors should use EV/EBITDA, which at 4.94 appears low, but the forward EV/EBITDA of 62.63 suggests the market expects a sharp decline in EBITDA. Alternatively, a price-to-sales or price-to-FCF analysis may provide a more stable valuation metric, but the negative SBC adjustments warrant caution in using FCF as well.