Latest Ratios: P/E Ratio 150.5x · EV/EBITDA 13.9x · ROE 1.9%. (2001–2025 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 | $2.6B | $2.5B | $2.6B | $2.4B | $2.0B | $2.3B | $2.1B | $2.0B | $1.7B | $2.0B | — |
| Enterprise Value | $5.1B | $5.1B | $5.3B | $5.0B | $4.9B | $4.9B | $4.7B | $5.1B | $4.9B | $4.5B | — |
| P/E Ratio → | 150.47 | 149.94 | — | 8.71 | 10.04 | 10.74 | 34.33 | 16.28 | 665.85 | 98.16 | — |
| P/S Ratio | 4.01 | 4.00 | 3.70 | 3.35 | 3.18 | 3.83 | 3.52 | 3.37 | 3.41 | 4.53 | — |
| P/B Ratio | 1.17 | 1.16 | 1.14 | 19.71 | 16.54 | 185.39 | — | — | 33.50 | 34.43 | — |
| P/FCF | 12.08 | 12.04 | 19.13 | 11.34 | 11.77 | 14.59 | 3.45 | 9.95 | — | — | — |
| P/OCF | 9.37 | 9.34 | 6.66 | 6.71 | 7.17 | 11.51 | 3.39 | 6.72 | 13.29 | 10.07 | — |
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 | — | 8.01 | 7.41 | 6.89 | 7.83 | 8.12 | 7.97 | 8.55 | 9.52 | 10.45 | — |
| EV / EBITDA | 13.90 | 13.88 | 109.33 | 10.86 | 15.99 | 12.86 | 13.23 | 11.80 | 17.87 | 17.79 | — |
| EV / EBIT | 22.85 | 26.25 | 65.72 | 9.71 | 12.64 | 12.74 | 20.16 | 15.28 | 30.70 | 34.62 | — |
| EV / FCF | — | 24.13 | 38.28 | 23.32 | 28.98 | 30.93 | 7.81 | 25.25 | — | — | — |
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 | 40.5% | 40.5% | 44.7% | 43.8% | 43.1% | 52.6% | 51.4% | 51.8% | 45.6% | 49.9% | 53.1% |
| Operating Margin | 35.1% | 35.1% | -13.3% | 43.4% | 28.4% | 41.2% | 38.2% | 49.8% | 28.9% | 34.4% | 38.6% |
| Net Profit Margin | 6.7% | 6.7% | -9.6% | 41.9% | 35.9% | 40.6% | 14.8% | 25.4% | 5.6% | 7.8% | 35.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.9% | 1.9% | -5.6% | 250.0% | 338.5% | 1964.9% | — | 610.7% | 52.1% | 70.5% | 452.7% |
| ROA | 0.8% | 0.8% | -1.2% | 5.3% | 4.2% | 5.0% | 1.7% | 2.8% | 0.5% | 0.7% | 3.4% |
| ROIC | 3.5% | 3.5% | -1.9% | 8.3% | 4.7% | 7.2% | 6.0% | 7.1% | 3.8% | 4.7% | 5.6% |
| ROCE | 4.8% | 4.8% | -1.9% | 6.2% | 3.8% | 5.6% | 5.1% | 6.2% | 3.2% | 3.7% | 4.0% |
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 | 1.23 | 1.23 | 1.21 | 22.18 | 26.00 | 215.03 | — | — | 62.78 | 49.41 | 55.32 |
| Debt / EBITDA | 7.33 | 7.33 | 57.87 | 5.94 | 10.21 | 7.04 | 7.96 | 7.51 | 12.01 | 11.05 | 8.78 |
| Net Debt / Equity | — | 1.17 | 1.14 | 20.81 | 24.20 | 207.57 | — | — | 59.92 | 45.11 | 52.12 |
| Net Debt / EBITDA | 6.95 | 6.95 | 54.68 | 5.58 | 9.50 | 6.79 | 7.38 | 7.15 | 11.46 | 10.09 | 8.27 |
| Debt / FCF | — | 12.09 | 19.14 | 11.98 | 17.22 | 16.34 | 4.36 | 15.30 | — | — | — |
| Interest Coverage | 1.18 | 1.18 | 0.45 | 2.75 | 2.82 | 3.21 | 1.76 | 2.05 | 1.23 | 1.61 | 3.70 |
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 | 0.42 | 0.42 | 0.61 | 0.70 | 0.55 | 0.59 | 0.50 | 0.71 | 0.91 | 0.42 | 0.92 |
| Quick Ratio | 0.42 | 0.42 | 0.61 | 0.74 | 0.55 | 0.49 | 0.47 | 0.63 | 0.77 | 0.40 | 0.89 |
| Cash Ratio | 0.22 | 0.22 | 0.37 | 0.43 | 0.29 | 0.29 | 0.42 | 0.52 | 0.46 | 0.31 | 0.74 |
| Asset Turnover | — | 0.12 | 0.13 | 0.13 | 0.11 | 0.12 | 0.12 | 0.11 | 0.09 | 0.09 | 0.09 |
| Inventory Turnover | — | — | — | — | — | 7.60 | 16.30 | 4.45 | 5.88 | 9.27 | 17.40 |
| Days Sales Outstanding | — | 17.55 | 14.92 | 15.70 | 34.27 | 27.78 | 4.71 | 174.50 | 23.89 | 28.14 | 170.61 |
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 | 4.9% | 4.9% | 10.5% | 3.1% | 1.3% | 5.4% | 5.0% | 4.1% | 4.0% | 2.9% | — |
| Payout Ratio | 294.9% | 294.9% | — | 24.6% | 11.4% | 51.2% | 119.5% | 53.9% | 248.0% | 166.8% | 32.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.7% | 0.7% | — | 11.5% | 10.0% | 9.3% | 2.9% | 6.1% | 0.2% | 1.0% | — |
| FCF Yield | 8.3% | 8.3% | 5.2% | 8.8% | 8.5% | 6.9% | 29.0% | 10.0% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.2% | 0.1% | 0.0% | 0.8% | 1.3% | 0.2% | 0.0% | — |
| Total Shareholder Yield | 4.9% | 4.9% | 10.5% | 3.2% | 1.4% | 5.4% | 5.8% | 5.3% | 4.3% | 2.9% | — |
| Shares Outstanding | — | $100M | $100M | $100M | $89M | $87M | $83M | $78M | $80M | $80M | $80M |
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying SEAL-PB stock.
Seapeak LLC's current P/E ratio is 150.5x. The historical average is 46.9x. This places it at the 100th percentile of its historical range.
Seapeak LLC's current EV/EBITDA is 13.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.3x.
Seapeak LLC's return on equity (ROE) is 1.9%. The historical average is 61.5%.
Based on historical data, Seapeak LLC is trading at a P/E of 150.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Seapeak LLC's current dividend yield is 4.89% with a payout ratio of 294.9%.
Seapeak LLC has 40.5% gross margin and 35.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Seapeak LLC's Debt/EBITDA ratio is 7.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Debt serviceability amid shrinking cash flow
Valuation Disconnect from Earnings Power
The extreme divergence between a TTM P/E of 152.35 and a forward P/E of 13.98 suggests the market is pricing in a significant earnings recovery, a view that appears optimistic given the sustained revenue decline and margin compression reported in recent quarters.
The current EV/EBITDA of 13.99 is at a premium to the peer median of 12.33, which is difficult to justify given Seapeak's lower ROIC and net margin compared to peers like Flex LNG. This valuation premium may reflect the market's belief in the long-term charter backlog, but it does not appear to fully discount the near-term operational headwinds and the capital-intensive fleet renewal cycle evident in the negative FCF.
Margin Erosion Undermines Core Earning Power
Gross margins have contracted by nearly 1,000 basis points from their 2024 peak to 36.4% in 2026Q2, a trend that, when combined with a net margin of just 13.4%, suggests the company's high-fixed-cost structure is amplifying the impact of revenue weakness.
The operating margin of 31.9% indicates that corporate overhead is well-controlled, but the sharp decline from 41.8% in 2024Q1 points to a loss of pricing power or less favorable charter mix. The net margin's collapse from 45.8% to 13.4% over the same period is particularly concerning, as it implies that interest expenses and non-operating items are consuming an increasing share of operating profit, leaving minimal buffer for shareholders.
Capital Returns Collapse to Near-Zero Levels
Return on Invested Capital has plummeted from a peak of 2.1% in 2024Q1 to just 0.8% in 2026Q2, a trend that indicates the company is currently destroying value on a marginal basis and is far from covering its cost of capital.
The ROIC trend is particularly alarming when viewed alongside the massive capital expenditure cycle, with Q2 2026 capex at 78.9% of revenue. This suggests that the new investments are not yet generating returns, and the legacy fleet's earning power is deteriorating. The ROE of 0.9% confirms that equity holders are receiving negligible returns, a situation that is unsustainable long-term and may pressure the private equity sponsor's exit timeline.
Leverage Profile Masks True Debt Burden
While the reported Debt/Equity ratio of 1.21 appears moderate, the interest coverage ratio of just 1.38x in 2026Q2, down from 2.87x in 2024Q1, suggests that debt service is becoming increasingly uncomfortable as operating income declines.
The D/EBITDA multiple of 30.04x is exceptionally high and indicates that the company's earnings are insufficient to rapidly deleverage, a situation exacerbated by the negative free cash flow. This leverage profile is significantly more aggressive than peers like Flex LNG (D/E 2.57) and Cool Company (D/E 1.72), and warrants close monitoring for covenant compliance, especially if the revenue decline continues.
Liquidity Position Under Severe Strain
A current ratio of 0.45 and a quick ratio of 0.45 in 2026Q2 indicate that Seapeak's liquid assets cover less than half of its short-term obligations, a position that appears precarious given the negative free cash flow trend.
The cash position has eroded by 51% from its 2024 peak, while the current ratio has fallen from 0.72 to 0.45, suggesting a significant tightening of financial flexibility. This liquidity constraint, combined with the high capital expenditure requirements for fleet renewal, may force the company to seek additional financing or curtail investments, which could further impact long-term competitiveness.
The Misleading Debt/Equity Ratio
The most commonly misapplied ratio for Seapeak is the Debt/Equity ratio of 1.21, which appears deceptively low because it likely excludes the substantial debt obligations of equity-accounted joint ventures, obscuring the company's true consolidated leverage.
In the LNG shipping industry, joint ventures are a common structure for owning and operating vessels, and their debt is often off the balance sheet of the parent company. For Seapeak, this means the reported D/E ratio significantly understates the total financial obligations the company is responsible for. Analysts should instead focus on the D/EBITDA ratio of 30.04x and the interest coverage ratio of 1.38x, which provide a more accurate picture of the company's ability to service its total debt load from operational cash flows.