Latest Ratios: P/E Ratio 37.8x · EV/EBITDA 33.7x · ROE 20.4%. (2015–2025 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 | $26.3B | $16.8B | $11.5B | $9.9B | $6.5B | $6.4B | $3.9B | $4.4B | $4.1B | — | — |
| Enterprise Value | $27.8B | $18.3B | $13.6B | $11.6B | $7.3B | $7.5B | $4.8B | $5.4B | $4.8B | — | — |
| P/E Ratio → | 37.78 | 23.66 | 34.60 | 17.53 | 16.16 | 23.60 | — | 19.83 | 17.55 | — | — |
| P/S Ratio | 6.76 | 4.31 | 3.81 | 3.72 | 2.82 | 2.62 | 1.98 | 2.01 | 1.83 | — | — |
| P/B Ratio | 7.19 | 4.50 | 3.54 | 3.16 | 2.37 | 2.58 | 1.64 | 1.71 | 1.51 | — | — |
| P/FCF | 70.81 | 45.13 | 20.14 | 21.49 | 18.57 | 19.32 | 12.99 | 14.88 | 13.36 | — | — |
| P/OCF | 56.61 | 36.08 | 17.83 | 18.82 | 16.41 | 17.27 | 11.48 | 13.16 | 11.82 | — | — |
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 | — | 4.69 | 4.52 | 4.36 | 3.20 | 3.04 | 2.41 | 2.46 | 2.19 | — | — |
| EV / EBITDA | 33.73 | 22.14 | 20.21 | 20.21 | 18.57 | 16.13 | 34.22 | 12.64 | 11.87 | — | — |
| EV / EBIT | 45.09 | 29.22 | 25.41 | 25.60 | 19.98 | 21.20 | 179.38 | 17.98 | 16.15 | — | — |
| EV / FCF | — | 49.10 | 23.90 | 25.17 | 21.05 | 22.42 | 15.87 | 18.26 | 15.93 | — | — |
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 | 37.7% | 37.7% | 40.2% | 40.3% | 35.9% | 38.3% | 37.5% | 39.3% | 39.6% | 40.1% | 39.5% |
| Operating Margin | 15.8% | 15.8% | 17.5% | 17.3% | 13.5% | 14.4% | 1.9% | 15.1% | 14.0% | 15.1% | 15.7% |
| Net Profit Margin | 18.2% | 18.2% | 11.0% | 21.2% | 17.4% | 11.1% | -2.4% | 10.1% | 10.4% | 17.2% | 12.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.4% | 20.4% | 10.4% | 19.3% | 15.3% | 11.1% | -1.9% | 8.4% | 7.1% | 9.9% | 7.4% |
| ROA | 10.5% | 10.5% | 5.1% | 10.3% | 8.3% | 6.0% | -1.0% | 4.8% | 5.0% | 7.8% | 5.7% |
| ROIC | 8.7% | 8.7% | 7.7% | 8.2% | 6.5% | 7.8% | 0.8% | 7.1% | 6.4% | 6.6% | 7.2% |
| ROCE | 10.5% | 10.5% | 9.3% | 9.6% | 7.5% | 8.9% | 0.9% | 8.1% | 7.4% | 7.4% | 7.9% |
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 | 0.46 | 0.46 | 0.70 | 0.60 | 0.43 | 0.43 | 0.41 | 0.43 | 0.35 | — | — |
| Debt / EBITDA | 2.08 | 2.08 | 3.37 | 3.27 | 2.95 | 2.34 | 7.08 | 2.59 | 2.31 | — | — |
| Net Debt / Equity | — | 0.40 | 0.66 | 0.54 | 0.32 | 0.41 | 0.36 | 0.39 | 0.29 | -0.01 | -0.01 |
| Net Debt / EBITDA | 1.79 | 1.79 | 3.17 | 2.95 | 2.19 | 2.23 | 6.21 | 2.34 | 1.92 | -0.06 | -0.05 |
| Debt / FCF | — | 3.97 | 3.75 | 3.68 | 2.49 | 3.10 | 2.88 | 3.38 | 2.57 | -0.07 | -0.07 |
| Interest Coverage | 8.33 | 8.33 | 5.05 | 5.73 | 11.78 | 10.93 | 0.74 | 6.76 | 9.61 | 1567.50 | 226.00 |
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 | 1.63 | 1.63 | 1.73 | 1.82 | 1.89 | 1.43 | 1.70 | 1.73 | 1.83 | 1.87 | 2.06 |
| Quick Ratio | 1.16 | 1.16 | 1.28 | 1.22 | 1.36 | 0.93 | 1.18 | 1.20 | 1.34 | 1.30 | 1.43 |
| Cash Ratio | 0.24 | 0.24 | 0.16 | 0.25 | 0.46 | 0.08 | 0.27 | 0.23 | 0.34 | 0.07 | 0.07 |
| Asset Turnover | — | 0.57 | 0.45 | 0.43 | 0.47 | 0.53 | 0.46 | 0.47 | 0.49 | 0.44 | 0.47 |
| Inventory Turnover | 5.14 | 5.14 | 4.99 | 3.61 | 4.25 | 4.72 | 5.31 | 5.47 | 5.86 | 5.60 | 6.33 |
| Days Sales Outstanding | — | 80.05 | 64.11 | 86.65 | 82.40 | 72.20 | 65.64 | 66.86 | 68.48 | 72.93 | 66.95 |
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 | 0.5% | 0.8% | 1.1% | 1.2% | 1.8% | 1.8% | 3.0% | 2.7% | 1.5% | — | — |
| Payout Ratio | 18.4% | 18.4% | 38.2% | 20.6% | 29.3% | 43.1% | — | 54.2% | 27.3% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 4.2% | 2.9% | 5.7% | 6.2% | 4.2% | — | 5.0% | 5.7% | — | — |
| FCF Yield | 1.4% | 2.2% | 5.0% | 4.7% | 5.4% | 5.2% | 7.7% | 6.7% | 7.5% | — | — |
| Buyback Yield | 1.0% | 1.5% | 0.9% | 0.6% | 1.0% | 1.7% | 1.1% | 5.3% | 1.4% | — | — |
| Total Shareholder Yield | 1.4% | 2.3% | 2.0% | 1.8% | 2.8% | 3.6% | 4.1% | 8.1% | 2.9% | — | — |
| Shares Outstanding | — | $165M | $168M | $168M | $168M | $170M | $170M | $173M | $181M | $178M | $178M |
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying NVT stock.
nVent Electric plc's current P/E ratio is 37.8x. The historical average is 21.8x. This places it at the 100th percentile of its historical range.
nVent Electric plc's current EV/EBITDA is 33.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.5x.
nVent Electric plc's return on equity (ROE) is 20.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 10.3%.
Based on historical data, nVent Electric plc is trading at a P/E of 37.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
nVent Electric plc's current dividend yield is 0.49% with a payout ratio of 18.4%.
nVent Electric plc has 37.7% gross margin and 15.8% operating margin. Operating margin between 10-20% is typical for established companies.
nVent Electric plc'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
Tariff exposure and competition
Metrics are mathematically derived from official filings.
Margin Expansion Amid Mix Shift
Operating margin expanded to 20.4% in 2026Q2 from 16.3% a year earlier, while gross margin dipped to 37.9%, reflecting strong operating leverage, as reported in the latest quarterly filing.
The 410 basis point year-over-year operating margin expansion, achieved despite a 70 basis point gross margin decline, indicates that SG&A discipline is more than offsetting product mix pressures. This suggests that the company's cost control measures, including the nVent Management System, are effectively scaling with revenue growth. However, the gross margin erosion from 41.6% in 2024Q2 to 37.9% in 2026Q2 warrants monitoring, as it may signal intensifying competition or input cost inflation that could eventually outpace efficiency gains.
ROIC Inflection Signals Value Creation
ROIC improved to 4.2% in 2026Q2 from 2.5% a year earlier, though still below the 13.6% peer average, suggesting early-stage recovery in capital efficiency, per financial statements.
The sequential improvement in ROIC from 2.9% in 2026Q1 to 4.2% in 2026Q2, coupled with a rising asset turnover (0.21 vs. 0.14 a year ago), indicates that the company is beginning to generate more revenue per dollar of invested capital. This is likely driven by the surge in data center demand and the utilization of recently expanded manufacturing capacity. However, ROIC remains well below peers like Eaton (13.6%) and Hubbell (17.1%), implying that NVT's capital base is still heavy relative to its earnings, possibly due to recent acquisitions and goodwill accumulation. Investors should monitor whether ROIC can sustain its upward trajectory as the company scales.
Working Capital Efficiency Improves
Cash conversion cycle shortened to 72 days in 2026Q2 from 85 days a year earlier, driven by faster inventory turnover and improved collections, as reported in the latest quarterly data.
The 13-day reduction in CCC is a positive sign, reflecting better inventory management (DIO down from 61 to 52 days) and more efficient receivables collection (DSO down from 70 to 67 days). This improvement suggests that the company is managing its working capital more effectively despite rapid growth, which is crucial for cash generation. However, the cash conversion cycle remains elevated compared to some peers, and the recent working capital drag on cash flow (as noted in the cash flow analysis) indicates that further improvements are needed to fully convert earnings into free cash flow.
Deleveraging Enhances Financial Flexibility
Debt-to-equity fell to 0.41 in 2026Q2 from 0.54 a year earlier, while interest coverage improved to 17.2x from 8.8x, indicating a strengthening balance sheet, per the latest balance sheet.
The continued deleveraging, with D/EBITDA down to 5.45 from 9.17 a year ago, reflects strong cash generation and disciplined capital allocation. The substantial improvement in interest coverage suggests that debt service is becoming increasingly comfortable, providing ample headroom for strategic initiatives. This fortress-like balance sheet positions NVT well to pursue M&A or weather potential economic downturns, though the low leverage may also imply an overly conservative capital structure that could be optimized for shareholder returns.
Liquidity Buffer Strengthens
Current ratio improved to 1.80 in 2026Q2 from 1.57 a year earlier, with quick ratio at 1.33, indicating a solid liquidity position, as reported in the latest quarterly filing.
The improvement in both current and quick ratios suggests that NVT has ample short-term assets to cover its liabilities, even when excluding inventory. This is particularly reassuring given the company's heavy reliance on inventory for its enclosures and thermal management products. The strengthening liquidity, combined with a low debt burden, provides a cushion against potential tariff-related disruptions or demand shocks. However, the quick ratio of 1.33 still indicates some inventory dependence, which could be a concern if commodity price volatility affects inventory valuations.
P/E Misleads on Growth Potential
The trailing P/E of 36.99 appears rich, but it understates NVT's earnings power given the one-time gains and acquisition-related charges; EV/EBITDA of 33.05 may better reflect ongoing operations, per valuation data.
The P/E ratio is distorted by non-recurring items, such as the one-time gain in 2025Q1 that inflated net margin to 44.6%, and by the amortization of acquired intangibles from bolt-on acquisitions. As a result, the P/E may overstate the cost of the stock relative to sustainable earnings. EV/EBITDA, which normalizes for capital structure and non-cash charges, provides a cleaner comparison to peers, though it still appears elevated at 33.05 versus Hubbell's 20.03. Investors should focus on forward EV/EBITDA of 26.18, which implies the market is pricing in continued strong growth, but also leaves little room for execution missteps.