Latest Ratios: P/E Ratio 7.4x · EV/EBITDA 4.2x · ROE 14.5%. (2005–2025 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 | $518M | $533M | $435M | $508M | $633M | $390M | $111M | $150M | $267M | $688M | $12.3B |
| Enterprise Value | $407M | $422M | $337M | $255M | $377M | $253M | $109M | $203M | $249M | $627M | $12.5B |
| P/E Ratio → | 7.38 | 7.59 | 6.93 | 8.34 | 2.61 | 3.34 | — | — | — | 14.63 | — |
| P/S Ratio | 3.31 | 3.41 | 3.48 | 3.42 | 2.49 | 2.31 | 0.96 | 0.56 | 0.76 | 1.93 | 15.99 |
| P/B Ratio | 1.01 | 1.04 | 0.95 | 1.08 | 1.30 | 1.59 | 0.86 | 0.37 | 0.31 | 0.82 | 23.96 |
| P/FCF | 15.96 | 16.41 | 9.16 | 6.51 | 5.31 | 3.95 | 4.67 | — | — | — | — |
| P/OCF | 5.17 | 5.32 | 5.89 | 4.39 | 3.84 | 3.54 | 3.06 | 1.24 | 1.83 | 3.80 | — |
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 | — | 2.70 | 2.69 | 1.72 | 1.48 | 1.50 | 0.94 | 0.76 | 0.71 | 1.75 | 16.23 |
| EV / EBITDA | 4.19 | 4.34 | 5.13 | 2.96 | 1.95 | 1.95 | — | — | 1.93 | 3.65 | — |
| EV / EBIT | 7.50 | 6.47 | 8.25 | 3.41 | 2.22 | 2.57 | — | — | — | 14.54 | — |
| EV / FCF | — | 12.99 | 7.10 | 3.27 | 3.16 | 2.56 | 4.58 | — | — | — | — |
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 | 43.1% | 43.1% | 36.7% | 49.6% | 70.5% | 63.7% | 3.3% | -0.8% | 28.0% | 30.5% | 9.5% |
| Operating Margin | 34.7% | 34.7% | 26.5% | 43.2% | 69.0% | 67.6% | -237.9% | -167.4% | -3.0% | 11.1% | -604.0% |
| Net Profit Margin | 44.9% | 44.9% | 50.3% | 40.9% | 95.2% | 69.1% | -241.2% | -168.4% | -2.6% | 13.2% | -481.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 14.5% | 14.5% | 13.6% | 12.7% | 66.1% | 62.5% | -104.6% | -71.9% | -1.1% | 7.0% | -720.9% |
| ROA | 11.5% | 11.5% | 10.9% | 10.4% | 50.8% | 38.0% | -63.9% | -55.1% | -0.8% | 4.3% | -181.6% |
| ROIC | 10.7% | 10.7% | 8.6% | 21.5% | 77.3% | 73.1% | -70.5% | -52.1% | -1.0% | 4.0% | -257.4% |
| ROCE | 9.9% | 9.9% | 6.4% | 12.1% | 42.5% | 47.5% | -76.9% | -63.5% | -1.1% | 4.4% | -271.4% |
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 | — | — | — | — | — | — | 0.16 | 0.14 | — | 0.04 | 0.60 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | 0.22 | — |
| Net Debt / Equity | — | -0.22 | -0.21 | -0.54 | -0.52 | -0.56 | -0.02 | 0.13 | -0.02 | -0.07 | 0.36 |
| Net Debt / EBITDA | -1.14 | -1.14 | -1.49 | -2.92 | -1.32 | -1.06 | — | — | -0.14 | -0.36 | — |
| Debt / FCF | — | -3.42 | -2.06 | -3.24 | -2.15 | -1.39 | -0.09 | — | — | — | — |
| Interest Coverage | 140.97 | 140.97 | 312.10 | 720.39 | 786.38 | 421.58 | -157.77 | -145.62 | -2.04 | 8.82 | -13.90 |
Net cash position: cash ($111M) exceeds total debt ($0)
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 | 2.17 | 2.17 | 2.11 | 5.63 | 4.82 | 2.53 | 0.74 | 0.44 | 0.53 | 0.98 | 1.20 |
| Quick Ratio | 2.17 | 2.17 | 2.11 | 5.63 | 4.82 | 2.53 | 0.74 | 0.44 | 0.46 | 0.94 | 0.93 |
| Cash Ratio | 1.63 | 1.63 | 1.62 | 5.12 | 4.04 | 2.14 | 0.32 | 0.05 | 0.13 | 0.50 | 0.57 |
| Asset Turnover | — | 0.24 | 0.22 | 0.26 | 0.42 | 0.48 | 0.44 | 0.44 | 0.34 | 0.32 | 0.71 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 25.40 | 28.46 | 11.95 |
| Days Sales Outstanding | — | 61.13 | 69.56 | 54.43 | 49.86 | 46.48 | 62.15 | 39.18 | 47.54 | 72.81 | 35.18 |
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 | 3.1% | 3.0% | 16.6% | 1.5% | — | — | — | — | — | — | 0.0% |
| Payout Ratio | 22.6% | 22.6% | 114.8% | 12.7% | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 13.5% | 13.2% | 14.4% | 12.0% | 38.3% | 29.9% | — | — | — | 6.8% | — |
| FCF Yield | 6.3% | 6.1% | 10.9% | 15.4% | 18.8% | 25.3% | 21.4% | — | — | — | — |
| Buyback Yield | 1.2% | 1.2% | 0.1% | 0.2% | 0.0% | 0.2% | 0.1% | 0.2% | 2.8% | 1.0% | 0.0% |
| Total Shareholder Yield | 4.3% | 4.2% | 16.7% | 1.7% | 0.0% | 0.2% | 0.1% | 0.2% | 2.8% | 1.0% | 0.0% |
| Shares Outstanding | — | $37M | $37M | $37M | $37M | $37M | $36M | $35M | $35M | $33M | $522M |
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying SD stock.
SandRidge Energy, Inc.'s current P/E ratio is 7.4x. The historical average is 7.2x. This places it at the 50th percentile of its historical range.
SandRidge Energy, Inc.'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 3.1x.
SandRidge Energy, Inc.'s return on equity (ROE) is 14.5%. The historical average is -22.9%.
Based on historical data, SandRidge Energy, Inc. is trading at a P/E of 7.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
SandRidge Energy, Inc.'s current dividend yield is 3.06% with a payout ratio of 22.6%.
SandRidge Energy, Inc. has 43.1% gross margin and 34.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Key Metrics
Top Statement Risk
Extreme margin volatility
Metrics are mathematically derived from official filings.
Deep Value Pricing Amidst Growth Inflection
SandRidge trades at a significant discount to peers with a forward EV/EBITDA of 2.92, suggesting the market is pricing in minimal future growth or severe commodity risk despite recent operational acceleration.
The company's forward P/E of 6.72 and EV/EBITDA of 2.92 are well below the peer median, indicating the market is not pricing in the recent 48% revenue growth acceleration. This discount appears to reflect skepticism about the sustainability of the current high-margin environment, given the extreme historical volatility in gross margins. The valuation implies either a belief in a sharp earnings decline or a significant risk premium for the company's asset-heavy, commodity-exposed model.
Margin Expansion Driven by Operating Leverage
Operating margin expanded to 50.8% in 2026Q2, up from 25.9% a year prior, demonstrating powerful operating leverage as SG&A discipline has amplified the impact of rising commodity prices on the bottom line.
The gross margin's swing from 30.6% to 73.6% over two years highlights the primary driver of profitability: commodity price sensitivity. However, the more sustainable trend is the expansion in operating margin, which has nearly doubled, indicating that fixed costs are being spread over a larger revenue base. This suggests the company's true earning power is currently high, but investors must recognize that net margin volatility (e.g., 84.8% in 2024Q3) is often driven by non-operational items, making operating margin the more reliable indicator of core performance.
Improving but Cyclical Returns on Capital
ROIC has improved from a low of 2.1% in 2024Q4 to 4.6% in 2026Q2, yet remains below the cost of capital, indicating the recent capital investment cycle has not yet generated sufficient returns to create shareholder value.
The upward trend in ROIC and ROE is encouraging and aligns with the revenue growth acceleration. However, the absolute levels remain modest for an industrial company, suggesting that the massive increase in PPE (from $239M to $437M) is still in the process of being deployed and monetized. The key question is whether the current high-margin environment will persist long enough for these assets to generate returns that exceed the company's cost of capital, a scenario that appears uncertain given historical margin swings.
Working Capital Strains Offset by Supplier Leverage
Days Sales Outstanding (DSO) has improved to 51 days from a peak of 80, but Days Payable Outstanding (DPO) has surged to 232 days, indicating the company is heavily relying on extended supplier payment terms to fund operations.
The dramatic increase in DPO is the most striking efficiency metric, suggesting SandRidge has secured significant leverage with its suppliers, effectively using them as a source of interest-free financing. This has helped offset the cash drain from working capital investment. However, such extended payment terms may not be sustainable and could signal underlying cash flow pressure or strained supplier relationships. The absence of inventory data (DIO) prevents a full cash conversion cycle analysis, which is a notable gap for an asset-heavy E&P company.
The Misleading Safety of the Current Ratio
The current ratio of 2.62 appears healthy but is misleading for this business model, as it is inflated by a massive, non-operational increase in accounts payable that may not represent a sustainable source of liquidity.
For an E&P company with lumpy capital expenditures and volatile cash flows, the current ratio is often misapplied as a primary liquidity metric. SandRidge's ratio is heavily influenced by the surge in DPO to 232 days, which boosts current liabilities and thus depresses the ratio. A more appropriate metric would be the quick ratio (also 2.62 here, indicating no inventory) or, more critically, a focus on unrestricted cash ($113.3M) relative to near-term debt maturities and essential capital expenditures. The current ratio obscures the real liquidity risk, which is the company's dependence on continued access to supplier credit and its ability to fund large, non-recurring CapEx projects from operating cash flow.