Latest Ratios: P/E Ratio 25.7x · EV/EBITDA 15.9x · 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 | $17.2B | $16.8B | $11.5B | $9.9B | $6.5B | $6.4B | $3.9B | $4.4B | $4.1B | — | — |
| Enterprise Value | $18.7B | $18.3B | $13.6B | $11.6B | $7.3B | $7.5B | $4.8B | $5.4B | $4.8B | — | — |
| P/E Ratio → | 25.70 | 23.66 | 34.60 | 17.53 | 16.16 | 23.60 | — | 19.83 | 17.55 | — | — |
| P/S Ratio | 3.24 | 4.31 | 3.81 | 3.72 | 2.82 | 2.62 | 1.98 | 2.01 | 1.83 | — | — |
| P/B Ratio | 4.69 | 4.50 | 3.54 | 3.16 | 2.37 | 2.58 | 1.64 | 1.71 | 1.51 | — | — |
| P/FCF | 26.73 | 45.13 | 20.14 | 21.49 | 18.57 | 19.32 | 12.99 | 14.88 | 13.36 | — | — |
| P/OCF | 36.93 | 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 | 15.86 | 22.14 | 20.21 | 20.21 | 18.57 | 16.13 | 34.22 | 12.64 | 11.87 | — | — |
| EV / EBIT | 30.24 | 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 | 0.7% | 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 | 3.9% | 4.2% | 2.9% | 5.7% | 6.2% | 4.2% | — | 5.0% | 5.7% | — | — |
| FCF Yield | 3.7% | 2.2% | 5.0% | 4.7% | 5.4% | 5.2% | 7.7% | 6.7% | 7.5% | — | — |
| Buyback Yield | 1.5% | 1.5% | 0.9% | 0.6% | 1.0% | 1.7% | 1.1% | 5.3% | 1.4% | — | — |
| Total Shareholder Yield | 2.2% | 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 25.7x. The historical average is 21.8x. This places it at the 86th percentile of its historical range.
nVent Electric plc's current EV/EBITDA is 15.9x. 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 25.7x. This is at the 86th 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 0.75% 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
Data center demand concentration
Metrics are mathematically derived from official filings.
Premium Multiple Prices in Data Center Growth
Based on reported figures, NVT trades at 22.83x trailing earnings and 19.03x forward earnings, a discount to Eaton's 31.26x but a premium to Hubbell's 25.32x trailing multiple only on a forward-adjusted basis, which appears to reflect expectations of sustained data center expansion.
The gap between trailing and forward P/E compresses from 22.8x to 19.0x, which implies consensus expects earnings to rise meaningfully over the next year. Relative to Eaton at 31.3x and Hubbell at 25.3x, NVT screens as reasonably priced for a company whose recent revenue growth has been well above its historical pace, though P/FCF of 42.8x suggests the market is pricing a substantial share of future cash generation that has not yet materialized. Investors should monitor whether free cash flow catches up to the earnings-based valuation.
Operating Margin Softening From Recent Peak
According to recent SEC filings, NVT's gross margin of 35.8% in 2026Q3 sits below the 37.9% reported in 2026Q2, while operating margin fell from 20.4% to 18.6% over the same period despite strong revenue growth.
The compression suggests operating expenses or input cost pressures are growing faster than gross profit, which warrants attention given the company's reliance on premium pricing to offset steel and copper exposure. Net margin of 13.4% is considerably below the 44.6% spike in 2025Q1, which appears to have been driven by non-operating items rather than underlying operations. The more reliable earnings power indicator appears to be operating margin in the mid-to-high teens, which remains competitive with Hubbell's 15.2% net margin but trails Eaton's 14.9% only modestly.
Returns Recovering From Compressed Base
As reported in financial statements, NVT's ROIC climbed from 1.6% in 2024Q4 to 4.0% in 2026Q3, but remains well below Hubbell's 17.1% and Acuity's 16.4%, indicating returns on invested capital have considerable room to recover.
The improvement appears driven largely by margin recovery and revenue growth rather than by any change in capital efficiency, since asset turnover has held near 0.20x. ROE of 5.0% is likely depressed by the large goodwill base, which inflates invested capital relative to earnings and makes the ratio a weaker signal of operating quality. Investors should treat the ROIC trajectory as directionally positive but analytically incomplete until returns on tangible capital are considered.
Debt Service Comfort Improving Steadily
Based on NVT's reported figures, interest coverage rose from 4.37x in 2024Q4 to 13.39x in 2026Q3, while debt-to-equity moved from 0.70 to 0.57, suggesting debt service has become substantially more comfortable.
The debt-to-EBITDA ratio of 6.97x in 2026Q3 is elevated relative to several readings in the 4x to 6x range earlier in the period, which may indicate that recent debt issuance outpaced EBITDA growth in that quarter. Interest coverage above 13x provides a wide buffer, though the rise in total debt to $2.3B in 2026Q3 warrants monitoring. Refinancing risk appears manageable given the coverage profile, but the trend in leverage should be watched closely.
Working Capital Cycle Shortening Materially
According to reported quarterly figures, NVT's cash conversion cycle fell from 115 days in 2024Q2 to 66 days in 2026Q3, driven by lower DSO and DIO, suggesting meaningful working capital discipline during the growth phase.
DSO declined from 77 to 63 days and DIO from 93 to 63 days over the period, which implies tighter collections and inventory management despite rapid revenue expansion. DPO of 49 days has remained relatively stable, meaning supplier financing has not been the primary driver of the improvement. Investors should monitor whether the shorter cycle holds as the company continues to scale its liquid cooling manufacturing footprint.
Peer Multiples May Overstate Quality Premium
Based on reported quarterly figures, the most commonly misapplied metric for NVT is trailing P/E, which is distorted by the 2025Q1 net margin spike to 44.6% and therefore understates the true multiple on operating earnings.
Trailing P/E is frequently used as a headline valuation anchor for industrials, but for NVT the 2025Q1 spike in net income from non-operating items means the trailing denominator can be inflated relative to recurring earnings. Operating cash flow and EV/EBITDA, which currently sits at 21.08x against a forward figure of 14.56x, provide a cleaner read on sustainable earnings power. Investors should adjust for non-recurring items and weigh free cash flow yield alongside earnings multiples before concluding that the stock is reasonably priced versus peers.