Latest Ratios: P/E Ratio 37.0x · EV/EBITDA 24.5x · ROE 30.4%. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $25.8B | $15.9B | $13.7B | $7.1B | — | — |
| Enterprise Value | $26.0B | $16.0B | $14.3B | $7.9B | — | — |
| P/E Ratio → | 36.96 | 22.65 | 31.31 | 42.64 | — | — |
| P/S Ratio | 4.04 | 2.48 | 2.48 | 1.68 | — | — |
| P/B Ratio | 9.69 | 5.94 | 7.10 | 4.82 | — | — |
| P/FCF | 54.47 | 33.52 | 46.49 | 47.94 | — | — |
| P/OCF | 40.74 | 25.07 | 30.76 | 25.42 | — | — |
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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.50 | 2.59 | 1.85 | — | — |
| EV / EBITDA | 24.48 | 15.11 | 18.65 | 16.45 | — | — |
| EV / EBIT | 28.19 | 16.89 | 22.50 | 23.22 | — | — |
| EV / FCF | — | 33.78 | 48.44 | 52.76 | — | — |
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 |
|---|---|---|---|---|---|---|
| Gross Margin | 49.0% | 49.0% | 48.1% | 44.9% | 37.9% | 38.6% |
| Operating Margin | 14.4% | 14.4% | 11.7% | 8.8% | 8.6% | 11.8% |
| Net Profit Margin | 11.0% | 11.0% | 7.9% | 3.9% | 6.3% | 8.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | 30.4% | 30.4% | 25.7% | 10.1% | 12.9% | 18.8% |
| ROA | 14.4% | 14.4% | 11.1% | 4.9% | 7.0% | 9.9% |
| ROIC | 26.0% | 26.0% | 20.5% | 12.9% | 11.4% | 15.7% |
| ROCE | 28.6% | 28.6% | 24.6% | 15.9% | 13.7% | 18.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.34 | 0.34 | 0.49 | 0.59 | 0.28 | 0.32 |
| Debt / EBITDA | 0.85 | 0.85 | 1.22 | 1.82 | 1.25 | 1.09 |
| Net Debt / Equity | — | 0.05 | 0.30 | 0.48 | 0.17 | 0.19 |
| Net Debt / EBITDA | 0.12 | 0.12 | 0.75 | 1.50 | 0.78 | 0.66 |
| Debt / FCF | — | 0.26 | 1.95 | 4.82 | 2.88 | 2.00 |
| Interest Coverage | 19.52 | 19.52 | 9.98 | 7.53 | 12.18 | 26.44 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 2.04 | 2.04 | 1.73 | 1.69 | 1.77 | 1.78 |
| Quick Ratio | 1.47 | 1.47 | 1.14 | 1.06 | 1.20 | 1.18 |
| Cash Ratio | 0.44 | 0.44 | 0.24 | 0.14 | 0.20 | 0.23 |
| Asset Turnover | — | 1.20 | 1.26 | 1.22 | 1.13 | 1.11 |
| Inventory Turnover | 3.26 | 3.26 | 3.19 | 3.35 | 4.21 | 3.80 |
| Days Sales Outstanding | — | 101.53 | 83.62 | 84.54 | 82.42 | 88.72 |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 2.1% | — | — |
| Payout Ratio | — | — | — | 89.9% | 19.6% | 12.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | 2.7% | 4.4% | 3.2% | 2.3% | — | — |
| FCF Yield | 1.8% | 3.0% | 2.2% | 2.1% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.4% | 0.1% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.4% | 2.2% | — | — |
| Shares Outstanding | — | $142M | $141M | $139M | $139M | $139M |
Includes 30+ ratios · 5 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SN stock.
SharkNinja, Inc.'s current P/E ratio is 37.0x. The historical average is 32.2x. This places it at the 67th percentile of its historical range.
SharkNinja, Inc.'s current EV/EBITDA is 24.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.7x.
SharkNinja, Inc.'s return on equity (ROE) is 30.4%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 19.6%.
Based on historical data, SharkNinja, Inc. is trading at a P/E of 37.0x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
SharkNinja, Inc. has 49.0% gross margin and 14.4% operating margin. Operating margin between 10-20% is typical for established companies.
SharkNinja, Inc.'s Debt/EBITDA ratio is 0.8x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
SBC dilution and working capital swings
Metrics are mathematically derived from official filings.
Premium Multiple Justified by Growth
SharkNinja trades at 37.7x trailing earnings and 24.96x EV/EBITDA, per reported figures, a premium to peers like SWK at 13.76x, reflecting its superior growth trajectory.
The forward P/E of 29.26 implies the market expects continued double-digit earnings growth, consistent with the 22.2% revenue growth in 2026Q2. However, the EV/EBITDA multiple is elevated relative to the sector, suggesting investors are pricing in sustained margin expansion. Given the historical volatility in operating margins, the valuation appears to leave little room for disappointment.
Margin Resilience Amid Seasonal Swings
Gross margin held steady at 48.7% in 2026Q2, as per financial statements, while operating margin fell to 10.2% from 16.6% in 2025Q3, highlighting significant seasonality in profitability.
The stability of gross margin suggests strong pricing power and cost control, but operating margin volatility indicates that fixed costs and working capital swings can compress earnings in off-peak quarters. Net margin of 7.4% in 2026Q2 is below the 12.1% seen in 2025Q4, reflecting the seasonal pattern. Investors should focus on full-year margins rather than quarterly figures, as the company's operating leverage cuts both ways.
Returns Improving but Still Modest
ROIC rose to 4.4% in 2026Q2 from 3.1% in 2024Q2, as per reported data, but remains below the cost of capital, suggesting value creation is still in early stages.
The improvement in ROIC is driven by higher margins and better asset utilization, but the absolute level is low for a consumer brand. ROE of 4.6% in 2026Q2 is also modest, though it benefits from a clean balance sheet. The company's asset-light model, with capex at only 2.5% of revenue, should support higher returns as revenue scales, but the current figures indicate that capital efficiency is still developing.
Working Capital Drags on Cash Conversion
Cash conversion cycle lengthened to 125 days in 2026Q2 from 100 days in 2024Q4, as per reported figures, driven by higher DSO and DIO, indicating growing working capital needs.
DSO rose to 83 days and DIO to 109 days, while DPO remained at 68 days, causing the CCC to expand. This suggests that as revenue grows, the company is tying up more cash in receivables and inventory, which explains the negative free cash flow in some quarters. The seasonal build-up in working capital is a key reason for the erratic cash flow, and management may need to tighten credit terms or inventory management to improve cash generation.
Leverage Eases as Equity Grows
Debt-to-equity fell to 0.32 in 2026Q2 from 0.65 in 2024Q2, per financial statements, while interest coverage improved to 23.7x, indicating a strengthening balance sheet.
The reduction in leverage is driven by a 75% increase in equity, not by debt repayment, as total debt remained near $900M. Interest coverage of 23.7x is comfortable, but the D/EBITDA of 4.16x is elevated, suggesting that EBITDA volatility could strain coverage in a downturn. The company's ability to service debt appears solid, but the reliance on equity growth to improve leverage metrics warrants monitoring.
Liquidity Buffer Strengthens Seasonally
Current ratio improved to 2.08 in 2026Q2 from 1.67 in 2024Q3, as per reported data, with cash rising to $779.8M, providing a solid cushion against working capital swings.
The quick ratio of 1.45 indicates that even without inventory, the company can cover short-term obligations. However, the seasonal pattern of working capital consumption, which absorbed $338.8M in 2026Q1, suggests that liquidity can tighten quickly. The current ratio is healthy, but investors should note that it may overstate stability given the volatility in cash conversion.
Misapplied P/E on Seasonal Earnings
The trailing P/E of 37.7x is misleading for SharkNinja due to seasonal earnings volatility, as per reported figures, and should be adjusted for normalized full-year earnings.
Using a single quarter's earnings to calculate P/E can distort valuation, as seen in the swing from 10.2% operating margin in 2026Q2 to 16.6% in 2025Q3. A more appropriate metric is EV/EBITDA on a forward basis, which smooths out seasonality and accounts for the company's debt. Investors should also consider the impact of stock-based compensation, which is a real cost to shareholders and is not fully captured in net income.