Latest Ratios: P/E Ratio 9.5x · EV/EBITDA 2.1x · ROE 12.8%. (2012–2025 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 | $97M | $95M | $76M | $67M | $72M | $402M | $391M | $404M | $280M | $403M | — |
| Enterprise Value | $175M | $173M | $111M | $122M | $159M | $468M | $419M | $471M | $385M | $519M | — |
| P/E Ratio → | 9.48 | 9.39 | 1.24 | 15.40 | 6.44 | — | 5.73 | 28.44 | — | 21.29 | — |
| P/S Ratio | 0.21 | 0.20 | 0.19 | 0.15 | 0.16 | 1.02 | 0.70 | 0.50 | 0.28 | 0.50 | — |
| P/B Ratio | 0.71 | 0.70 | 0.46 | 0.53 | 0.62 | 2.96 | 2.22 | 2.57 | 1.55 | 1.99 | — |
| P/FCF | 3.96 | 3.86 | 1.66 | 1.40 | 7.73 | 64.85 | 4.36 | 4.77 | 6.86 | — | — |
| P/OCF | 2.31 | 2.25 | 1.50 | 1.36 | 4.45 | 31.61 | 4.26 | 4.41 | 4.68 | 6.30 | — |
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 | — | 0.37 | 0.28 | 0.28 | 0.34 | 1.19 | 0.76 | 0.58 | 0.38 | 0.65 | — |
| EV / EBITDA | 2.05 | 2.02 | 1.19 | 2.19 | 3.82 | 17.99 | 3.51 | 7.24 | 7.86 | 3.58 | — |
| EV / EBIT | 2.76 | 2.72 | 1.58 | 2.76 | 7.16 | 197.73 | 4.84 | 17.33 | — | 4.15 | — |
| EV / FCF | — | 7.05 | 2.44 | 2.54 | 16.98 | 75.52 | 4.68 | 5.56 | 9.45 | — | — |
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 | 27.8% | 27.8% | 42.1% | 28.6% | 22.5% | 17.9% | 37.9% | 24.4% | 15.9% | 30.8% | 36.9% |
| Operating Margin | 13.6% | 13.6% | 21.1% | 10.7% | 5.4% | 1.1% | 16.0% | 2.9% | -0.4% | 12.8% | 15.4% |
| Net Profit Margin | 4.1% | 4.1% | 15.3% | 3.4% | 1.6% | 0.9% | 4.9% | 1.0% | -0.1% | 2.4% | 2.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 12.8% | 12.8% | 42.0% | 12.3% | 6.0% | 2.4% | 16.4% | 5.0% | -0.6% | 11.6% | 18.4% |
| ROA | 5.7% | 5.7% | 18.8% | 4.7% | 2.2% | 1.0% | 6.9% | 1.9% | -0.2% | 4.3% | 5.4% |
| ROIC | 23.1% | 23.1% | 33.1% | 18.2% | 9.2% | 1.6% | 31.1% | 7.1% | -0.9% | 30.6% | 48.3% |
| ROCE | 24.2% | 24.2% | 34.1% | 20.1% | 9.7% | 1.6% | 31.9% | 7.6% | -1.0% | 37.4% | 62.4% |
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 | 0.89 | 0.89 | 0.65 | 0.77 | 1.03 | 0.99 | 0.57 | 0.78 | 0.81 | 0.72 | 0.63 |
| Debt / EBITDA | 1.41 | 1.41 | 1.13 | 1.75 | 2.89 | 5.19 | 0.84 | 1.89 | 2.99 | 1.01 | 0.67 |
| Net Debt / Equity | — | 0.58 | 0.22 | 0.43 | 0.74 | 0.49 | 0.16 | 0.42 | 0.58 | 0.57 | 0.48 |
| Net Debt / EBITDA | 0.92 | 0.92 | 0.38 | 0.98 | 2.08 | 2.54 | 0.24 | 1.02 | 2.15 | 0.80 | 0.51 |
| Debt / FCF | — | 3.19 | 0.78 | 1.14 | 9.25 | 10.68 | 0.32 | 0.78 | 2.59 | — | 1.89 |
| Interest Coverage | 8.45 | 8.45 | — | 4.73 | 3.07 | 0.48 | 16.43 | 3.15 | -0.89 | 25.68 | 8.84 |
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 | 2.55 | 2.55 | 2.52 | 1.99 | 1.94 | 2.38 | 2.26 | 1.66 | 2.06 | 1.96 | 1.08 |
| Quick Ratio | 2.51 | 2.51 | 2.49 | 1.95 | 1.89 | 2.35 | 2.24 | 1.64 | 2.03 | 1.94 | 1.06 |
| Cash Ratio | 0.54 | 0.54 | 0.94 | 0.53 | 0.37 | 0.83 | 0.79 | 0.40 | 0.29 | 0.19 | 0.10 |
| Asset Turnover | — | 1.41 | 1.16 | 1.43 | 1.39 | 1.11 | 1.51 | 1.92 | 2.06 | 1.58 | 1.45 |
| Inventory Turnover | 114.91 | 114.91 | 108.00 | 99.47 | 81.07 | 163.08 | 230.34 | 208.27 | 218.02 | 123.53 | 91.94 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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 | 10.4% | 10.5% | 14.3% | 4.3% | 15.9% | 2.7% | 2.7% | 2.6% | 3.5% | 2.4% | — |
| Payout Ratio | 51.8% | 51.8% | 17.8% | 19.2% | 151.2% | 294.3% | 38.7% | 122.9% | — | 50.5% | 57.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.6% | 10.6% | 80.7% | 6.5% | 15.5% | — | 17.5% | 3.5% | — | 4.7% | — |
| FCF Yield | 25.3% | 25.9% | 60.4% | 71.2% | 12.9% | 1.5% | 22.9% | 20.9% | 14.6% | — | — |
| Buyback Yield | 27.4% | 28.1% | 1.3% | 0.3% | 0.9% | 0.3% | 0.1% | 0.0% | 1.0% | 1.3% | — |
| Total Shareholder Yield | 37.8% | 38.6% | 15.7% | 4.5% | 16.8% | 3.1% | 2.8% | 2.6% | 4.5% | 3.6% | — |
| Shares Outstanding | — | $4M | $3M | $3M | $3M | $16M | $16M | $16M | $15M | $15M | $15M |
Commodity and churn volatility
As reported in recent financial data, VIASP trades at a P/E of 9.47, yet the lack of a forward P/E suggests that market participants struggle to anchor valuation to earnings, especially given the 10.4% dividend yield which may reflect significant risk premiums rather than sustainable income generation.
The current valuation appears to be heavily influenced by the company's transition to an asset-light retail model, which lacks the predictable earnings profile of traditional regulated utilities. Investors should monitor whether the high dividend yield is a signal of market skepticism regarding the company's ability to maintain cash distributions amidst volatile commodity cycles.
Based on historical financial statements, the dividend payout ratio has fluctuated wildly, reaching 120.9% in 2026Q1, which indicates that shareholder distributions are frequently disconnected from underlying cash generation and may be unsustainable without consistent operational performance or further reliance on balance sheet liquidity.
The extreme volatility in payout ratios suggests that the dividend is not managed as a stable utility-style distribution but rather as a variable return that fluctuates with seasonal margin expansion. This inconsistency warrants caution, as it may imply that the company prioritizes shareholder returns over the reinvestment necessary to combat high customer churn.
According to comparative market data, VIASP's asset-light structure differentiates it from traditional utilities, with its 0.71 P/B ratio suggesting that the market assigns little value to its intangible licensing footprint compared to the physical rate base assets typically held by regulated electric and gas providers.
While peers like Greenidge Generation exhibit similar volatility, the lack of a clear valuation premium for VIASP suggests that the market does not view its 101-territory footprint as a durable competitive advantage. Analysts should interpret this discount as a reflection of the inherent risks associated with retail energy marketing versus regulated infrastructure ownership.
As indicated by the company's financial profile, the most commonly misapplied metric is the P/E ratio, which investors often use to compare VIASP to regulated utilities, thereby obscuring the fact that VIASP's earnings are driven by commodity trading and customer acquisition rather than authorized regulatory returns.
Applying a standard utility P/E multiple to VIASP ignores the reality that its earnings are subject to mark-to-market derivative volatility and high churn, which are absent in regulated rate-base models. Investors should instead focus on adjusted EBITDA or cash-based metrics that strip out non-cash accounting noise to better assess the company's true operational health.
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Quick answers to the most common questions about buying VIASP stock.
Via Renewables, Inc.'s current P/E ratio is 9.5x. The historical average is 12.6x. This places it at the 57th percentile of its historical range.
Via Renewables, Inc.'s current EV/EBITDA is 2.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.5x.
Via Renewables, Inc.'s return on equity (ROE) is 12.8%. The historical average is 17.6%.
Based on historical data, Via Renewables, Inc. is trading at a P/E of 9.5x. This is at the 57th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Via Renewables, Inc.'s current dividend yield is 10.40% with a payout ratio of 51.8%.
Via Renewables, Inc. has 27.8% gross margin and 13.6% operating margin. Operating margin between 10-20% is typical for established companies.
Via Renewables, Inc.'s Debt/EBITDA ratio is 1.4x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.