Latest Ratios: P/E Ratio -4.4x · EV/EBITDA 81.0x · ROE -26.2%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $72M | $92M | $267M | $470M | $386M | $366M | — |
| Enterprise Value | $194M | $213M | $365M | $568M | $496M | $417M | — |
| P/E Ratio → | -4.36 | — | 4.70 | 3.59 | 5.55 | 5.87 | — |
| P/S Ratio | 0.18 | 0.23 | 0.58 | 1.12 | 0.81 | 0.85 | — |
| P/B Ratio | 1.25 | 1.60 | 3.99 | — | 6.55 | 5.50 | — |
| P/FCF | — | — | 17.33 | 16.75 | 11.22 | 6.32 | — |
| P/OCF | — | — | 17.29 | 16.66 | 11.16 | 6.28 | — |
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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.52 | 0.79 | 1.35 | 1.04 | 0.96 | — |
| EV / EBITDA | 80.98 | 89.27 | 63.82 | 35.55 | 7.14 | 6.67 | — |
| EV / EBIT | — | — | 46.02 | 38.79 | 6.81 | 6.71 | — |
| EV / FCF | — | — | 23.67 | 20.22 | 14.40 | 7.20 | — |
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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 17.6% | 17.6% | 17.4% | 18.9% | 20.3% | 20.3% | 20.5% |
| Operating Margin | -0.0% | -0.0% | 1.1% | 3.5% | 14.5% | 14.4% | 11.4% |
| Net Profit Margin | -4.0% | -4.0% | 10.1% | 29.7% | 14.6% | 14.4% | 11.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -26.2% | -26.2% | 262.9% | 899.0% | 110.7% | 123.9% | 114.1% |
| ROA | -6.0% | -6.0% | 16.6% | 49.3% | 33.8% | 37.4% | 29.6% |
| ROIC | -0.0% | -0.0% | 3.3% | 9.3% | 36.2% | 47.2% | — |
| ROCE | -0.0% | -0.0% | 2.9% | 12.5% | 109.2% | 70.8% | 34.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.57 | 2.57 | 1.80 | — | 2.06 | 1.54 | 2.19 |
| Debt / EBITDA | 61.72 | 61.72 | 21.05 | 9.65 | 1.75 | 1.64 | 2.00 |
| Net Debt / Equity | — | 2.12 | 1.46 | — | 1.86 | 0.77 | 1.34 |
| Net Debt / EBITDA | 50.97 | 50.97 | 17.09 | 6.10 | 1.58 | 0.82 | 1.22 |
| Debt / FCF | — | — | 6.34 | 3.47 | 3.18 | 0.88 | 0.64 |
| Interest Coverage | — | — | — | — | 17722.57 | 138.41 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 2.10 | 2.10 | 2.76 | 2.19 | 1.35 | 1.45 | 5.78 |
| Quick Ratio | 0.62 | 0.62 | 0.98 | 0.73 | 0.13 | 0.42 | 1.53 |
| Cash Ratio | 0.21 | 0.21 | 0.27 | 0.45 | 0.08 | 0.38 | 1.29 |
| Asset Turnover | — | 1.47 | 1.75 | 1.41 | 2.29 | 2.14 | 2.49 |
| Inventory Turnover | 1.85 | 1.85 | 2.59 | 1.87 | 2.11 | 2.46 | 2.72 |
| Days Sales Outstanding | — | 9.29 | 5.45 | 2.04 | 2.61 | 1.76 | 1.10 |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | 3.8% | 14.0% | 9.2% | — |
| Payout Ratio | — | — | — | 14.3% | 78.0% | 53.7% | 57.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 21.3% | 27.9% | 18.0% | 17.0% | — |
| FCF Yield | — | — | 5.8% | 6.0% | 8.9% | 15.8% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 3.8% | 14.0% | 9.2% | — |
| Shares Outstanding | — | $59M | $63M | $56M | $38M | $38M | $38M |
Geographic and volume volatility
Based on recent SEC filings, UHG's negative TTM P/E of -4.36 and elevated EV/EBITDA of 80.98 suggest that traditional valuation metrics are currently failing to capture the company's underlying earnings potential, as the market struggles to price a business model currently hampered by significant bottom-line volatility.
The extreme EV/EBITDA multiple indicates that the market is assigning little value to current EBITDA, likely due to the erratic nature of the company's profitability. Investors should monitor whether the current P/S of 0.18 represents a deep value opportunity or a structural discount reflecting the high risk of the company's concentrated South Carolina operations.
According to reported financial statements, UHG's ROIC has fluctuated wildly from a peak of 96.9% in 2023Q3 to a low of -0.9% in 2025Q1, illustrating that the company is currently failing to consistently compound capital due to its inability to maintain stable operating margins across its community portfolio.
The sharp decline in ROIC suggests that the company's investments in land and construction are not generating sufficient returns to cover the cost of capital. This volatility warrants further investigation into whether the recent capital allocation strategy is effectively prioritizing high-margin projects or merely chasing volume at the expense of long-term value creation.
As reported in quarterly data, UHG's cash conversion cycle has remained elevated, reaching 142 days in 2025Q4, which indicates that the company's capital is tied up in inventory for extended periods, thereby limiting its ability to respond fluidly to shifts in regional housing demand.
The high days-in-inventory (DIO) of 156 days suggests that the company may be struggling to move units at the pace required to optimize its working capital. This inefficiency appears to be a structural drag on cash flow, as the company must carry significant construction costs before realizing revenue from home closings.
Based on the latest financial disclosures, UHG's debt-to-equity ratio has climbed to 2.57 in 2025Q4, signaling that the company is increasingly reliant on leverage to fund operations during a period of revenue contraction, which may limit its financial flexibility in a higher interest rate environment.
The rising leverage ratio, coupled with inconsistent interest coverage, suggests that the company's debt service capacity is becoming more constrained. Investors should monitor whether management can deleverage the balance sheet through improved operational cash flow or if further debt accumulation will be required to sustain the current land-light model.
As indicated by industry analysis, the net margin is the most commonly misapplied metric for UHG, as it is frequently distorted by non-recurring SPAC-related expenses and interest capitalization, which obscures the company's true operational earning power and its potential for future margin expansion as community counts scale.
Relying on net margin ignores the significant impact of accounting nuances inherent in the homebuilding sector, such as the timing of interest capitalization. A more accurate assessment of UHG's performance would involve focusing on gross margin and absorption rates per community, which better reflect the underlying health of the core construction business.
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Quick answers to the most common questions about buying UHG stock.
United Homes Group, Inc.'s current P/E ratio is -4.4x. The historical average is 4.9x.
United Homes Group, Inc.'s current EV/EBITDA is 81.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 40.5x.
United Homes Group, Inc.'s return on equity (ROE) is -26.2%. The historical average is 117.1%.
Based on historical data, United Homes Group, Inc. is trading at a P/E of -4.4x. Compare with industry peers and growth rates for a complete picture.
United Homes Group, Inc. has 17.6% gross margin and -0.0% operating margin.
United Homes Group, Inc.'s Debt/EBITDA ratio is 61.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.