Latest Ratios: P/E Ratio 30.8x · EV/EBITDA 40.8x · ROE 5.5%. (2014–2025 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 | $371M | $207M | $152M | $168M | $479M | $778M | $855M | $935M | $2.0B | $1.9B | $2.8B |
| Enterprise Value | $264M | $113M | $57M | $107M | $276M | $569M | $740M | $816M | $1.9B | $1.8B | $2.6B |
| P/E Ratio → | 30.80 | 19.33 | — | — | — | 72.67 | — | 52.40 | — | — | — |
| P/S Ratio | 0.59 | 0.38 | 0.33 | 0.35 | 0.90 | 2.15 | 3.44 | 1.11 | 2.16 | 1.81 | 3.71 |
| P/B Ratio | 1.55 | 0.97 | 0.77 | 0.78 | 0.85 | 1.12 | 1.29 | 1.04 | 2.31 | 2.20 | 3.27 |
| P/FCF | 101.30 | 64.43 | 8.74 | 6.93 | 7.69 | 27.04 | 360.64 | 14.12 | — | — | 121.35 |
| P/OCF | 42.18 | 26.83 | 7.53 | 6.05 | 7.23 | 23.90 | 108.62 | 12.59 | — | — | 89.71 |
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 | — | 0.21 | 0.12 | 0.22 | 0.52 | 1.57 | 2.97 | 0.97 | 2.12 | 1.72 | 3.40 |
| EV / EBITDA | 40.83 | 19.90 | — | — | — | 30.91 | — | 16.28 | — | — | — |
| EV / EBIT | 151.29 | 19.11 | — | — | — | 24.02 | — | 21.64 | — | — | — |
| EV / FCF | — | 35.04 | 3.27 | 4.41 | 4.43 | 19.78 | 312.06 | 12.33 | — | — | 111.48 |
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 | 97.3% | 97.3% | 97.6% | 97.5% | 97.6% | 96.8% | 95.9% | 98.9% | 99.4% | 99.4% | 99.4% |
| Operating Margin | 0.3% | 0.3% | -7.0% | -32.3% | -22.5% | 2.8% | -101.5% | 4.5% | -2.0% | -2.0% | -5.9% |
| Net Profit Margin | 2.0% | 2.0% | -5.1% | -33.9% | -23.8% | 3.0% | -98.6% | 2.0% | -2.3% | -1.2% | -6.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.5% | 5.5% | -11.5% | -42.3% | -20.3% | 1.6% | -31.5% | 2.0% | -2.4% | -1.5% | -6.9% |
| ROA | 3.4% | 3.4% | -7.6% | -32.4% | -16.7% | 1.3% | -25.3% | 1.6% | -1.9% | -1.2% | -5.7% |
| ROIC | 1.0% | 1.0% | -18.8% | -45.8% | -21.4% | 1.5% | -28.6% | 3.6% | -1.7% | -2.2% | -5.3% |
| ROCE | 0.6% | 0.6% | -11.9% | -33.6% | -16.8% | 1.3% | -27.4% | 3.7% | -1.8% | -2.1% | -5.4% |
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 | 0.17 | 0.17 | 0.19 | 0.19 | 0.08 | 0.07 | 0.14 | 0.11 | 0.15 | 0.11 | — |
| Debt / EBITDA | 6.41 | 6.41 | — | — | — | 2.58 | — | 1.99 | — | — | — |
| Net Debt / Equity | — | -0.44 | -0.48 | -0.28 | -0.36 | -0.30 | -0.17 | -0.13 | -0.04 | -0.11 | -0.27 |
| Net Debt / EBITDA | -16.68 | -16.68 | — | — | — | -11.35 | — | -2.36 | — | — | — |
| Debt / FCF | — | -29.39 | -5.46 | -2.52 | -3.26 | -7.26 | -48.58 | -1.79 | — | — | -9.87 |
| Interest Coverage | 149.90 | 149.90 | -1660.59 | -12654.33 | -2356.78 | 60.87 | -936.53 | 1143.12 | -10.13 | -403.84 | -325.43 |
Net cash position: cash ($131M) exceeds total debt ($36M)
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 | 2.22 | 2.22 | 3.83 | 5.22 | 7.12 | 7.31 | 7.51 | 4.90 | 4.37 | 3.74 | 4.79 |
| Quick Ratio | 2.22 | 2.22 | 3.83 | 5.22 | 7.12 | 7.31 | 7.51 | 4.90 | 4.24 | 3.53 | 4.79 |
| Cash Ratio | 1.48 | 1.48 | 2.69 | 3.53 | 5.92 | 6.04 | 6.56 | 3.60 | 2.66 | 2.43 | 3.72 |
| Asset Turnover | — | 1.53 | 1.53 | 1.49 | 0.77 | 0.43 | 0.30 | 0.76 | 0.83 | 0.96 | 0.75 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 0.70 | 0.36 | — |
| Days Sales Outstanding | — | 43.07 | 39.38 | 37.24 | 34.53 | 44.17 | 32.92 | 33.71 | 37.87 | 28.95 | 25.73 |
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 | — | — | — | 100.0% | — | — | — | — | 0.0% | 0.0% | — |
| 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 | 3.2% | 5.2% | — | — | — | 1.4% | — | 1.9% | — | — | — |
| FCF Yield | 1.0% | 1.6% | 11.4% | 14.4% | 13.0% | 3.7% | 0.3% | 7.1% | — | — | 0.8% |
| Buyback Yield | 0.4% | 0.6% | 0.5% | 0.0% | 4.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% |
| Total Shareholder Yield | 0.4% | 0.6% | 0.5% | 100.0% | 4.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% |
| Shares Outstanding | — | $72M | $70M | $69M | $71M | $71M | $71M | $71M | $70M | $55M | $48M |
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying TRVG stock.
trivago N.V.'s current P/E ratio is 30.8x. The historical average is 48.1x. This places it at the 33th percentile of its historical range.
trivago N.V.'s current EV/EBITDA is 40.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.4x.
trivago N.V.'s return on equity (ROE) is 5.5%. The historical average is -9.7%.
Based on historical data, trivago N.V. is trading at a P/E of 30.8x. This is at the 33th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
trivago N.V. has 97.3% gross margin and 0.3% operating margin.
trivago N.V.'s Debt/EBITDA ratio is 6.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Persistent Accumulated Deficit
Valuation Reflects Near-Term Losses
Trivago's forward P/E of 289.61, as derived from current market data, starkly contrasts with its TTM P/E of 38.86, implying the market anticipates a near-term collapse in earnings, likely driven by the swing to operating losses in Q1 and Q2 2026.
The valuation multiples present a confusing picture. While the P/S ratio of 0.75 suggests a low price relative to sales, the extreme divergence between the TTM and Forward P/E signals that current profits are not considered sustainable. This interpretation is consistent with the prior income statement analysis highlighting the reliance on non-operating items for Q4 2025 profitability. The high EV/EBITDA further reflects the market's skepticism about translating the company's high gross margins into stable, positive operating earnings.
Margin Structure Exposes Operating Inefficiency
Despite a consistent gross margin above 93%, trivago's operating margin has been negative in seven of the last ten quarters, reaching -3.4% in Q2 2026 per the provided financial data, indicating that its core business model fails to convert revenue into operating profit after accounting for fixed costs.
The decomposition reveals a fundamental challenge: trivago's primary issue is not cost of revenue but an unsustainable SG&A expense structure. The stark contrast between a gross margin averaging ~96% and a negative operating margin suggests the company lacks sufficient operating leverage. This structural weakness is the key driver behind the 'Strained' profitability signal and aligns with prior analysis that revenue growth alone may not resolve the cost burden.
Working Capital Intensity Masks Cash Generation
Trivago's Days Sales Outstanding (DSO) of 52 days in Q2 2026, as reported in the ratio data, combined with Days Payable Outstanding (DPO) of 555 days, reveals a business that collects cash slowly while leveraging extremely long payment terms with suppliers, creating a highly unusual and volatile cash conversion cycle.
The efficiency metrics are dominated by trivago's unique position between consumers (who pay quickly via partners) and hotels (who have extended payment terms). The high DSO suggests revenue recognition outpaces cash collection, while the extraordinarily high DPO indicates the company holds cash for long periods before paying suppliers. This structure explains the prior cash flow analysis finding that working capital changes are a major swing factor in free cash flow, creating predictability challenges.
Low Debt Belies True Leverage via Deferred Revenue
Trivago's reported Debt-to-Equity ratio of 0.17 in Q2 2026 suggests minimal financial leverage, yet the surge in deferred revenue to $86.5 million acts as a significant, non-debt operational liability that has compressed the current ratio and represents a form of hidden leverage.
Traditional leverage ratios are misleading here. The company maintains low bank debt, but its business model has generated a large deferred revenue balance—effectively a liability representing pre-paid services. This 'operational leverage' is the primary driver behind the declining current ratio from 4.26 to 1.65 over two years. While not a covenant risk, it represents a substantial future performance obligation and is a more meaningful measure of risk than the nominal D/E ratio.
The Misleading Comfort of the Current Ratio
The current ratio, often cited as a liquidity measure, is the most misapplied metric for trivago, as its decline from 4.26 to 1.65 is driven by a favorable increase in deferred revenue, not a deteriorating liquidity position or cash drain.
For a company with trivago's business model, the current ratio obscures more than it reveals. The prior balance sheet analysis correctly identified that the compression is driven by a $85.5M surge in deferred revenue—a non-cash, performance-based liability. This makes the ratio a poor indicator of near-term solvency stress. Investors should instead focus on the absolute cash balance and the trend in operating cash flow, as these better reflect the company's ability to meet obligations without drawing on credit facilities or impacting operations.