Latest Ratios: P/E Ratio -29.9x · EV/EBITDA 26.5x · ROE -4.3%. (2010–2025 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 | $119M | $154M | $304M | $321M | $216M | $364M | $218M | $86M | $285M | $499M | $1.0B |
| Enterprise Value | $269M | $304M | $426M | $452M | $386M | $498M | $358M | $298M | $333M | $519M | $1.0B |
| P/E Ratio → | -29.90 | — | 131.00 | 32.00 | 13.69 | 24.59 | 35.83 | — | 27.40 | 45.71 | 54.31 |
| P/S Ratio | 0.35 | 0.46 | 0.88 | 0.85 | 0.55 | 0.98 | 0.67 | 0.25 | 0.80 | 1.45 | 3.13 |
| P/B Ratio | 1.50 | 1.76 | 2.47 | 2.68 | 1.98 | 2.98 | 1.56 | 0.65 | 1.95 | 3.46 | 7.30 |
| P/FCF | — | — | 24.18 | 6.87 | — | 12.73 | 3.42 | 7.40 | — | 97.08 | 38.57 |
| P/OCF | 20.56 | 26.56 | 11.21 | 5.17 | 79.45 | 9.18 | 3.32 | 2.22 | 15.71 | 10.91 | 18.94 |
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 | — | 0.90 | 1.23 | 1.20 | 0.98 | 1.34 | 1.10 | 0.88 | 0.93 | 1.51 | 3.20 |
| EV / EBITDA | 26.46 | 29.88 | 20.00 | 12.10 | 8.09 | 10.38 | 9.49 | 9.26 | 7.16 | 9.97 | 18.54 |
| EV / EBIT | — | — | 120.99 | 28.00 | 17.09 | 24.18 | 56.12 | — | 18.22 | 19.97 | 31.38 |
| EV / FCF | — | — | 33.85 | 9.68 | — | 17.41 | 5.62 | 25.79 | — | 101.16 | 39.44 |
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 | 63.8% | 63.8% | 65.7% | 64.4% | 65.6% | 68.3% | 68.1% | 69.4% | 70.4% | 68.5% | 70.0% |
| Operating Margin | -1.7% | -1.7% | 1.0% | 4.3% | 5.7% | 5.6% | 2.0% | -0.4% | 5.1% | 7.5% | 10.2% |
| Net Profit Margin | -1.3% | -1.3% | 0.7% | 2.7% | 4.0% | 4.0% | 1.9% | -1.3% | 2.9% | 3.1% | 5.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -4.3% | -4.3% | 1.9% | 8.8% | 13.6% | 11.3% | 4.5% | -3.2% | 7.2% | 7.7% | 14.5% |
| ROA | -1.4% | -1.4% | 0.7% | 3.0% | 4.6% | 4.3% | 1.6% | -1.3% | 3.7% | 4.0% | 7.2% |
| ROIC | -1.8% | -1.8% | 1.1% | 4.6% | 6.3% | 5.8% | 1.5% | -0.4% | 7.6% | 11.9% | 15.3% |
| ROCE | -2.5% | -2.5% | 1.5% | 6.5% | 8.9% | 8.1% | 2.1% | -0.5% | 8.0% | 12.5% | 16.0% |
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 | 1.83 | 1.83 | 1.16 | 1.17 | 1.62 | 1.17 | 1.08 | 1.69 | 0.37 | 0.19 | 0.21 |
| Debt / EBITDA | 15.73 | 15.73 | 6.70 | 3.74 | 3.70 | 2.99 | 3.97 | 6.89 | 1.15 | 0.53 | 0.52 |
| Net Debt / Equity | — | 1.72 | 0.99 | 1.10 | 1.57 | 1.10 | 1.01 | 1.62 | 0.33 | 0.15 | 0.17 |
| Net Debt / EBITDA | 14.74 | 14.74 | 5.72 | 3.51 | 3.57 | 2.79 | 3.72 | 6.61 | 1.03 | 0.40 | 0.41 |
| Debt / FCF | — | — | 9.68 | 2.81 | — | 4.69 | 2.20 | 18.39 | — | 4.08 | 0.88 |
| Interest Coverage | -141.80 | -141.80 | 12.79 | 7.47 | 14.32 | 31.42 | 3.40 | -0.35 | 6.80 | 14.01 | 19.27 |
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 | 1.43 | 1.43 | 1.53 | 1.45 | 1.76 | 1.30 | 1.36 | 1.75 | 2.58 | 1.70 | 1.60 |
| Quick Ratio | 0.30 | 0.30 | 0.43 | 0.27 | 0.31 | 0.31 | 0.40 | 0.35 | 0.40 | 0.33 | 0.36 |
| Cash Ratio | 0.13 | 0.13 | 0.27 | 0.11 | 0.07 | 0.10 | 0.13 | 0.13 | 0.11 | 0.11 | 0.10 |
| Asset Turnover | — | 1.12 | 1.09 | 1.19 | 1.14 | 1.09 | 0.95 | 0.85 | 1.20 | 1.27 | 1.22 |
| Inventory Turnover | 1.36 | 1.36 | 1.38 | 1.43 | 1.12 | 1.21 | 1.39 | 1.07 | 0.96 | 1.27 | 1.31 |
| Days Sales Outstanding | — | 3.75 | 4.14 | 2.91 | 6.72 | 9.97 | 12.45 | 6.93 | 6.78 | 8.59 | 4.60 |
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 | — | — | — | — | — | 9.0% | — | 9.0% | 3.6% | 2.1% | — |
| Payout Ratio | — | — | — | — | — | 223.0% | — | — | 99.6% | 95.8% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 0.8% | 3.1% | 7.3% | 4.1% | 2.8% | — | 3.6% | 2.2% | 1.8% |
| FCF Yield | — | — | 4.1% | 14.6% | — | 7.9% | 29.3% | 13.5% | — | 1.0% | 2.6% |
| Buyback Yield | 26.9% | 20.8% | 0.2% | 0.2% | 14.0% | 0.3% | 0.1% | 12.2% | 0.0% | 0.1% | 0.0% |
| Total Shareholder Yield | 26.9% | 20.8% | 0.2% | 0.2% | 14.0% | 9.3% | 0.1% | 21.2% | 3.7% | 2.1% | 0.0% |
| Shares Outstanding | — | $44M | $44M | $44M | $49M | $51M | $51M | $51M | $52M | $52M | $52M |
Fixed cost absorption failure
Based on current market data, TTSH trades at a forward P/E of 13.64, which appears to reflect significant skepticism regarding the company's ability to restore profitability compared to the broader home improvement sector's historical valuation multiples for specialty retailers facing similar cyclical downturns in the housing market.
The negative TTM P/E ratio highlights the current lack of earnings, forcing investors to rely on forward-looking estimates that may be overly optimistic given the recent revenue contraction. The EV/EBITDA multiple of 26.50 suggests that the market is pricing in a high degree of risk, as the company's enterprise value remains elevated relative to its current ability to generate core operating cash flow.
As reported in recent financial statements, the company's ROIC has trended into negative territory, reaching -1.4% in 2025Q4, which indicates that the firm is currently failing to generate returns that exceed its cost of capital, a stark reversal from the positive compounding seen in previous fiscal periods.
The erosion of ROIC is primarily driven by the inability to maintain positive operating margins, as the high fixed-cost base of the showroom model continues to weigh on capital efficiency. Investors should monitor whether management can rationalize the asset base, as the current trend suggests that capital deployed into store infrastructure is no longer yielding productive economic returns.
According to recent quarterly filings, the company's days inventory outstanding has ballooned to 313 days in 2025Q4, signaling a significant inefficiency in inventory management that ties up critical liquidity and increases the risk of obsolescence for specialized natural stone products in a slowing demand environment.
The lengthening cash conversion cycle, now at 231 days, reflects a structural mismatch between the company's procurement strategy and the current pace of retail sales. This inefficiency suggests that the firm is carrying excessive stock, which may necessitate future markdowns that would further pressure the already strained gross margin profile.
Based on reported figures, the debt-to-equity ratio has climbed to 1.83 in 2025Q4, a concerning trend that indicates the company is increasingly reliant on debt to fund operations as its equity base shrinks due to persistent net losses and negative cash flow generation.
While the absolute debt levels may appear manageable in isolation, the rapid deterioration of the interest coverage ratio to -34.37 suggests that the company's ability to service its obligations is under severe pressure. This shift warrants close monitoring, as any further decline in operating performance could trigger covenant issues or necessitate dilutive financing.
The most commonly misapplied metric for this business model is the Price-to-Sales ratio, which obscures the company's high fixed-cost structure and the significant margin contribution of its proprietary 'Superior' brand manufacturing arm, leading to an incomplete assessment of the firm's true underlying economic value.
Analysts often treat TTSH as a pure-play retailer, ignoring the vertical integration that differentiates its cost structure from traditional flooring distributors. A more appropriate approach would involve a sum-of-the-parts valuation that separates the high-margin manufacturing segment from the capital-intensive showroom retail operations, which are currently masking the potential profitability of the proprietary product portfolio.
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying TTSH stock.
Tile Shop Holdings, Inc.'s current P/E ratio is -29.9x. The historical average is 46.0x.
Tile Shop Holdings, Inc.'s current EV/EBITDA is 26.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.4x.
Tile Shop Holdings, Inc.'s return on equity (ROE) is -4.3%. The historical average is -9.4%.
Based on historical data, Tile Shop Holdings, Inc. is trading at a P/E of -29.9x. Compare with industry peers and growth rates for a complete picture.
Tile Shop Holdings, Inc. has 63.8% gross margin and -1.7% operating margin.
Tile Shop Holdings, Inc.'s Debt/EBITDA ratio is 15.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.