Latest Ratios: P/E Ratio 178.4x · EV/EBITDA 24.0x · ROE 2.0%. (2008–2025 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 | $827M | $939M | $911M | $475M | $547M | $1.0B | $558M | $836M | $633M | $190M | $160M |
| Enterprise Value | $736M | $848M | $872M | $406M | $454M | $923M | $460M | $774M | $569M | $141M | $122M |
| P/E Ratio → | 178.44 | 199.50 | — | — | — | 43.21 | 30.76 | 13.43 | 39.69 | — | — |
| P/S Ratio | 0.76 | 0.86 | 1.49 | 0.82 | 0.94 | 1.77 | 1.14 | 1.84 | 1.57 | 0.63 | 0.54 |
| P/B Ratio | 3.44 | 3.85 | 4.20 | 2.07 | 1.91 | 3.47 | 2.18 | 3.75 | 4.27 | 1.61 | 1.29 |
| P/FCF | 9.98 | 11.32 | 136.16 | — | 25.84 | 21.06 | 12.88 | 24.84 | 26.15 | 12.52 | — |
| P/OCF | 9.73 | 11.05 | 75.68 | 40.13 | 19.07 | 20.24 | 11.73 | 22.02 | 23.48 | 10.26 | 158.08 |
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 | 1.42 | 0.70 | 0.78 | 1.59 | 0.94 | 1.70 | 1.41 | 0.47 | 0.41 |
| EV / EBITDA | 23.99 | 27.61 | — | — | 40.54 | 30.62 | 25.99 | 39.27 | 24.30 | 197.13 | — |
| EV / EBIT | 118.90 | 140.52 | — | — | — | 30.12 | 23.71 | 69.78 | 36.37 | — | — |
| EV / FCF | — | 10.23 | 130.26 | — | 21.46 | 18.96 | 10.60 | 22.99 | 23.48 | 9.25 | — |
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 | 10.1% | 10.1% | 7.5% | 8.4% | 9.2% | 12.2% | 10.7% | 13.5% | 14.4% | 10.1% | 9.2% |
| Operating Margin | 0.6% | 0.6% | -4.6% | -3.6% | -0.8% | 2.4% | 1.3% | 2.4% | 3.9% | -3.6% | -5.8% |
| Net Profit Margin | 0.4% | 0.4% | -5.1% | -11.9% | -0.9% | 4.1% | 3.7% | 13.7% | 3.9% | -4.1% | -6.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.0% | 2.0% | -14.0% | -26.7% | -1.8% | 8.5% | 7.6% | 33.7% | 12.0% | -10.1% | -13.8% |
| ROA | 1.2% | 1.2% | -8.9% | -18.2% | -1.2% | 5.8% | 5.3% | 22.9% | 8.1% | -6.6% | -9.0% |
| ROIC | 2.8% | 2.8% | -12.5% | -8.8% | -1.8% | 6.0% | 2.9% | 6.6% | 15.4% | -10.3% | -14.8% |
| ROCE | 2.4% | 2.4% | -11.5% | -7.5% | -1.5% | 4.6% | 2.4% | 5.5% | 11.4% | -8.5% | -12.2% |
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 | 0.04 | 0.04 | 0.05 | 0.02 | 0.01 | 0.03 | 0.03 | — | — | — | 0.12 |
| Debt / EBITDA | 0.33 | 0.33 | — | — | 0.34 | 0.28 | 0.49 | — | — | — | — |
| Net Debt / Equity | — | -0.37 | -0.18 | -0.30 | -0.32 | -0.34 | -0.39 | -0.28 | -0.44 | -0.42 | -0.31 |
| Net Debt / EBITDA | -2.96 | -2.96 | — | — | -8.27 | -3.38 | -5.59 | -3.17 | -2.76 | -69.52 | — |
| Debt / FCF | — | -1.10 | -5.91 | — | -4.38 | -2.09 | -2.28 | -1.86 | -2.67 | -3.26 | — |
| Interest Coverage | 15.08 | 15.08 | -43.70 | -26.04 | -4.36 | 23.63 | 27.85 | 30.21 | — | -37.40 | -31.97 |
Net cash position: cash ($101M) exceeds total debt ($10M)
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 | 1.51 | 1.51 | 1.34 | 1.68 | 1.67 | 1.78 | 2.16 | 1.71 | 2.02 | 1.90 | 1.69 |
| Quick Ratio | 1.51 | 1.51 | 1.34 | 1.68 | 1.67 | 1.78 | 2.01 | 1.71 | 2.02 | 1.90 | 1.69 |
| Cash Ratio | 0.62 | 0.62 | 0.40 | 0.82 | 0.88 | 0.95 | 1.25 | 0.75 | 0.95 | 0.94 | 0.84 |
| Asset Turnover | — | 2.54 | 1.66 | 1.72 | 1.39 | 1.29 | 1.37 | 1.40 | 1.84 | 1.72 | 1.54 |
| Inventory Turnover | — | — | — | — | — | — | 34.21 | — | — | — | — |
| Days Sales Outstanding | — | 45.32 | 66.54 | 42.66 | 51.14 | 57.71 | 47.99 | 60.65 | 61.83 | 53.64 | 57.89 |
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 | 0.6% | 0.5% | — | — | — | 2.3% | 3.3% | 7.4% | 2.5% | — | — |
| FCF Yield | 10.0% | 8.8% | 0.7% | — | 3.9% | 4.7% | 7.8% | 4.0% | 3.8% | 8.0% | — |
| Buyback Yield | 0.0% | 0.0% | 0.3% | 1.2% | 2.8% | 0.0% | 0.0% | 1.2% | 0.1% | 1.3% | 1.5% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.3% | 1.2% | 2.8% | 0.0% | 0.0% | 1.2% | 0.1% | 1.3% | 1.5% |
| Shares Outstanding | — | $58M | $55M | $54M | $54M | $55M | $53M | $53M | $50M | $46M | $45M |
Includes 30+ ratios · 18 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying QNST stock.
QuinStreet, Inc.'s current P/E ratio is 178.4x. The historical average is 49.9x. This places it at the 88th percentile of its historical range.
QuinStreet, Inc.'s current EV/EBITDA is 24.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.7x.
QuinStreet, Inc.'s return on equity (ROE) is 2.0%. The historical average is 1.2%.
Based on historical data, QuinStreet, Inc. is trading at a P/E of 178.4x. This is at the 88th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
QuinStreet, Inc. has 10.1% gross margin and 0.6% operating margin.
QuinStreet, Inc.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Thin margins and EPS volatility
Metrics are mathematically derived from official filings.
Margins Remain Thin Despite Revenue Surge
According to recent financial statements, QNST's gross margin improved to 13.3% in 2026Q4 from 10.6% a year earlier, yet operating margin of 5.1% and net margin of 5.1% remain far below peers, indicating a high pass-through cost structure.
The 78% TTM revenue growth has not translated into meaningful operating leverage; gross margin of 13.3% in 2026Q4 still trails EverQuote's 97.2% by a wide margin, reflecting the heavy cost of traffic acquisition. Operating margin of 5.1% is a positive inflection from losses in 2024 and early 2025, but the absolute level suggests the business remains vulnerable to any uptick in media costs. The net margin of 5.1% is barely above break-even, implying that even minor expense overruns could push the company back into losses.
Return on Capital Inflects but Remains Low
ROIC swung from -2.2% in 2024Q3 to 5.2% in 2026Q4, as reported in quarterly data, yet the level remains below the cost of capital, suggesting the business is only beginning to create value after a prolonged downturn.
The improvement in ROIC from negative territory to 5.2% is driven by the cyclical recovery in insurance carrier budgets, but the absolute return is still modest compared to peers like EverQuote's 54.8% ROIC. The low ROIC reflects the high asset base, particularly the $261.4M goodwill from acquisitions, which inflates invested capital without contributing to operating income. Investors should monitor whether ROIC can sustain above 10% as revenue growth normalizes, as the current level may not justify the premium valuation.
Working Capital Efficiency Shows Stability
DSO has remained stable around 45-48 days over the last ten quarters, as per financial data, while DPO has risen from 20 to 28 days, indicating a slight improvement in cash conversion efficiency.
The stable DSO suggests consistent collection practices, but the lack of improvement in DSO despite revenue growth may indicate that QNST has limited pricing power over its clients. The increase in DPO from 20 to 28 days suggests the company is taking longer to pay suppliers, which could be a sign of improved negotiating position or simply a timing effect. The cash conversion cycle is not fully calculable due to missing DIO data, but the positive FCF margin of 14.7% in 2026Q4 indicates that working capital is not a major drag on cash generation.
Leverage Spikes Then Normalizes
Debt-to-equity rose to 0.23 in 2026Q4 from 0.04 a year earlier, as reported in balance sheet data, but interest coverage of 8.81x indicates debt service remains comfortable, though the increase warrants monitoring.
The increase in leverage is likely tied to the acquisition that added $136.3M in goodwill, but the absolute level of debt remains moderate, with D/EBITDA at 2.92x. Interest coverage of 8.81x in 2026Q4 is down from 70.4x in 2026Q1, reflecting higher debt and normalized earnings, but still provides a cushion. The company's conservative balance sheet historically, with near-zero debt, suggests that the current leverage is a deliberate strategic choice rather than a sign of distress, but investors should watch for further debt accumulation.
Liquidity Adequate but Slightly Strained
Current ratio dipped to 1.22 in 2026Q4 from 1.51 a year earlier, as per balance sheet data, while cash and equivalents rose to $128.3M, indicating ample liquidity but a slight strain from acquisition-related liabilities.
The current ratio of 1.22 is still above 1.0, suggesting the company can cover short-term obligations, but the decline from 1.51 indicates that acquisition-related liabilities have increased. The quick ratio of 1.22 is identical to the current ratio, implying that inventory is not a significant factor, which is typical for a service-based business. With $128.3M in cash and a conservative debt profile, QNST appears well-positioned to weather a downturn, but the thin margins mean that a sudden drop in revenue could quickly erode liquidity.
Gross Margin Misleads in Lead Gen
The most misapplied ratio for QNST is gross margin, which at 13.3% appears weak but is distorted by the pass-through nature of media costs; the true value-add is better measured by revenue after publisher costs.
In performance marketing, gross margin is often misinterpreted as a sign of low profitability, but QNST's model passes through the majority of revenue to third-party publishers, making gross margin a poor indicator of economic value. A more appropriate metric is revenue after publisher costs, which isolates the company's take rate and better reflects its ability to monetize traffic. Investors should focus on this adjusted margin, along with operating margin, to assess QNST's true earning power, as the reported gross margin understates the company's operational efficiency.