Latest Ratios: P/E Ratio 13.2x · EV/EBITDA 7.1x · ROE 20.8%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $2.5B | $3.0B | — | — | — |
| Enterprise Value | $2.7B | $3.3B | — | — | — |
| P/E Ratio → | 13.24 | 16.32 | — | — | — |
| P/S Ratio | 1.48 | 1.82 | — | — | — |
| P/B Ratio | 2.37 | 2.92 | — | — | — |
| P/FCF | 21.05 | 25.82 | — | — | — |
| P/OCF | 8.88 | 10.89 | — | — | — |
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 |
|---|---|---|---|---|---|
| EV / Revenue | — | 1.97 | — | — | — |
| EV / EBITDA | 7.14 | 8.61 | — | — | — |
| EV / EBIT | 10.00 | 12.24 | — | — | — |
| EV / FCF | — | 27.96 | — | — | — |
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 |
|---|---|---|---|---|---|
| Gross Margin | 26.1% | 26.1% | 25.5% | 22.8% | 16.2% |
| Operating Margin | 16.3% | 16.3% | 15.4% | 14.2% | 7.1% |
| Net Profit Margin | 11.1% | 11.1% | 10.2% | 9.8% | 4.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | 20.8% | 20.8% | 22.6% | 23.7% | 10.6% |
| ROA | 10.7% | 10.7% | 10.8% | 10.5% | 4.3% |
| ROIC | 16.4% | 16.4% | 16.4% | 15.9% | 7.1% |
| ROCE | 18.0% | 18.0% | 21.5% | 21.2% | 8.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.45 | 0.45 | 0.61 | 0.57 | 0.78 |
| Debt / EBITDA | 1.22 | 1.22 | 1.31 | 1.29 | 2.50 |
| Net Debt / Equity | — | 0.24 | 0.60 | 0.54 | 0.73 |
| Net Debt / EBITDA | 0.66 | 0.66 | 1.28 | 1.22 | 2.34 |
| Debt / FCF | — | 2.14 | 3.98 | 3.57 | 8.63 |
| Interest Coverage | 11.85 | 11.85 | 9.89 | 10.74 | 4.73 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 3.03 | 3.03 | 1.61 | 0.76 | 1.10 |
| Quick Ratio | 1.91 | 1.91 | 0.66 | 0.37 | 0.54 |
| Cash Ratio | 1.05 | 1.05 | 0.05 | 0.04 | 0.09 |
| Asset Turnover | — | 0.88 | 1.04 | 1.06 | 0.94 |
| Inventory Turnover | 5.43 | 5.43 | 5.35 | 6.46 | 6.32 |
| Days Sales Outstanding | — | 33.72 | 28.68 | 29.21 | 30.77 |
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 |
|---|---|---|---|---|---|
| Dividend Yield | 1.2% | 1.0% | — | — | — |
| Payout Ratio | 15.9% | 15.9% | 51.2% | 21.8% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | 7.6% | 6.1% | — | — | — |
| FCF Yield | 4.8% | 3.9% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 1.2% | 1.0% | — | — | — |
| Shares Outstanding | — | $183M | $184M | $184M | $184M |
Includes 30+ ratios · 4 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TTAM stock.
Titan America S.A.'s current P/E ratio is 13.2x. The historical average is 16.3x.
Titan America S.A.'s current EV/EBITDA is 7.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.6x.
Titan America S.A.'s return on equity (ROE) is 20.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 19.4%.
Based on historical data, Titan America S.A. is trading at a P/E of 13.2x. Compare with industry peers and growth rates for a complete picture.
Titan America S.A.'s current dividend yield is 1.20% with a payout ratio of 15.9%.
Titan America S.A. has 26.1% gross margin and 16.3% operating margin. Operating margin between 10-20% is typical for established companies.
Titan America S.A.'s Debt/EBITDA ratio is 1.2x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Volume stagnation and margin compression
Discount Priced for Cyclical Peak
TTAM trades at 15.9x trailing earnings and 8.4x EV/EBITDA, a discount to peers like Vulcan at 35x and Martin Marietta at 29x. According to current market data, this suggests the market is pricing in margin normalization.
The forward P/E of 14.8x implies the market expects earnings to grow modestly, but the EV/EBITDA discount to peers is stark. Given TTAM's lower leverage and similar margins, the discount may reflect concerns about volume growth rather than structural inferiority. Investors should monitor whether the discount narrows as infrastructure spending ramps.
Margins Compress from Peak Levels
Gross margin fell to 24.0% in 2026Q2 from 26.3% a year earlier, while operating margin dropped to 13.6% from 16.2%. As reported in the latest quarterly data, this reflects input cost inflation outpacing pricing power.
The 26.1% average gross margin over the last year is below Eagle Materials' 28.3%, indicating TTAM has less pricing power in its ready-mix and aggregates segments. The net margin of 9.2% in 2026Q2 is down from 11.9% a year ago, but still respectable. The key question is whether cost pressures are cyclical or structural, given the company's vertical integration.
ROIC Stable but Below Peers
TTAM's ROIC averaged 3.8% over the last four quarters, well below Eagle Materials' 14.8% and Martin Marietta's 7.6%. Based on the reported figures, this suggests capital efficiency is lagging despite a fortress balance sheet.
ROE of 20.8% on a trailing basis is respectable, but ROIC is depressed by a large asset base and conservative leverage. The low debt-to-equity of 0.45% means the company is not using leverage to boost returns, which may be prudent but also leaves ROE below what a more optimized capital structure could achieve. Management's focus on balance sheet preservation appears to come at the cost of return on capital.
Working Capital Cycle Lengthens
Cash conversion cycle extended to 52 days in 2026Q2 from 58 days a year earlier, driven by higher DSO at 38 days. According to the quarterly data, this indicates slower collections and potential customer payment stress.
DSO has risen from 30 days in 2024Q4 to 38 days in 2026Q2, suggesting that customers are taking longer to pay, possibly due to tighter credit conditions. DIO remains elevated at 58 days, reflecting the need to hold inventory for project continuity. The modest increase in CCC is not alarming but warrants monitoring if it persists.
Ultra-Low Leverage Provides Cushion
Debt-to-equity stands at 0.53, up from 0.45 in 2025Q4, but interest coverage remains strong at 18.8x. As per the balance sheet data, this indicates ample capacity to service debt even if earnings decline.
The increase in debt is modest and likely funding growth capex, but the absolute level is far below peers like Eagle Materials at 1.22. This fortress balance sheet gives TTAM strategic flexibility, but it also suggests an inefficient capital structure that could be optimized to enhance shareholder returns. The low leverage may be a deliberate choice to weather cyclical downturns.
Liquidity Adequate but Cash Thin
Current ratio improved to 2.08 in 2026Q2 from 1.61 in 2024Q4, but cash dropped to $36.4M from $228.2M in 2026Q1. According to the balance sheet, this suggests reliance on receivables and inventory for short-term obligations.
The quick ratio of 1.17 indicates that liquid assets cover current liabilities, but the sharp decline in cash is notable. The company appears to have deployed cash into working capital and capex, which is typical for the sector. Under a severe demand shock, the liquidity position would be tested, but the low debt load provides a buffer.
Trading at a Discount to Peers
TTAM's P/E of 15.9x is roughly half of Vulcan's 35.3x and Martin Marietta's 29.4x, while its EV/EBITDA of 8.4x is also lower. Based on peer data, this discount may reflect its smaller scale and lower growth expectations.
TTAM's net margin of 11.1% is below Eagle's 18.4% but comparable to Vulcan's 13.6%, indicating similar profitability. The discount is likely due to TTAM's lower ROIC and slower growth, but its fortress balance sheet and vertical integration could warrant a narrower gap. Investors should assess whether the discount is justified by operational metrics or represents an opportunity.
Misapplied Metric: Debt-to-Equity
The most misapplied ratio for TTAM is debt-to-equity, as its ultra-low 0.45% level is often seen as a sign of financial strength. However, in a capital-intensive industry, this may indicate under-leveraging and suboptimal capital structure.
While low leverage reduces risk, it also depresses ROE and may signal a lack of growth ambition. For TTAM, a more relevant metric is ROIC, which captures the efficiency of all capital employed. Investors should focus on ROIC relative to peers and the company's ability to generate organic growth, rather than celebrating low debt alone.