Latest Ratios: P/E Ratio 13.3x · EV/EBITDA 4.7x · ROE 7.2%. (1996–2025 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 | $36.0B | $29.8B | $29.8B | $40.3B | $36.9B | $15.5B | $16.6B | $22.5B | $20.4B | $22.3B | $18.7B |
| Enterprise Value | $44.0B | $37.8B | $37.5B | $45.1B | $37.5B | $19.2B | $20.5B | $25.3B | $22.8B | $27.0B | $23.4B |
| P/E Ratio → | 13.34 | 10.98 | 8.34 | 24.24 | 5.68 | 7.80 | — | 64.97 | 14.94 | 20.93 | 21.59 |
| P/S Ratio | 2.77 | 2.30 | 2.26 | 2.88 | 2.19 | 2.22 | 4.62 | 4.62 | 3.89 | 5.61 | 4.60 |
| P/B Ratio | 0.91 | 0.75 | 0.82 | 1.15 | 0.99 | 1.09 | 1.29 | 1.29 | 1.11 | 1.40 | 1.20 |
| P/FCF | — | — | 31.56 | 47.19 | 6.50 | 13.17 | — | 10.75 | 13.42 | 22.08 | 25.79 |
| P/OCF | 5.01 | 4.15 | 5.10 | 6.56 | 4.19 | 4.08 | 8.99 | 6.81 | 6.18 | 9.29 | 7.25 |
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 | — | 2.91 | 2.85 | 3.22 | 2.23 | 2.76 | 5.70 | 5.19 | 4.34 | 6.80 | 5.75 |
| EV / EBITDA | 4.68 | 4.02 | 3.39 | 4.02 | 3.60 | 4.66 | 11.19 | 7.55 | 5.95 | 9.65 | 8.71 |
| EV / EBIT | 11.37 | 11.25 | 7.98 | 13.98 | 4.49 | 5.78 | 201.11 | 14.98 | 10.20 | 17.57 | 18.14 |
| EV / FCF | — | — | 39.71 | 52.76 | 6.60 | 16.38 | — | 12.09 | 15.00 | 26.78 | 32.23 |
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 | 34.9% | 34.9% | 43.1% | 46.3% | 61.1% | 44.8% | 17.1% | 44.0% | 50.3% | 47.6% | 45.2% |
| Operating Margin | 29.8% | 29.8% | 47.8% | 41.0% | 49.6% | 47.8% | 2.8% | 34.6% | 42.6% | 38.7% | 31.7% |
| Net Profit Margin | 20.9% | 20.9% | 27.1% | 11.9% | 38.6% | 28.5% | -111.9% | 7.0% | 26.0% | 26.9% | 21.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.2% | 7.2% | 10.0% | 4.6% | 25.3% | 14.6% | -26.6% | 1.9% | 8.0% | 6.8% | 5.7% |
| ROA | 4.3% | 4.3% | 6.1% | 2.9% | 15.1% | 7.8% | -14.9% | 1.2% | 5.2% | 4.3% | 3.6% |
| ROIC | 6.3% | 6.3% | 11.3% | 11.1% | 22.5% | 14.3% | 0.4% | 6.2% | 8.1% | 5.6% | 4.9% |
| ROCE | 6.6% | 6.6% | 11.9% | 11.1% | 21.8% | 14.3% | 0.4% | 6.2% | 8.9% | 6.4% | 5.6% |
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 | 0.34 | 0.34 | 0.32 | 0.18 | 0.18 | 0.48 | 0.58 | 0.39 | 0.22 | 0.32 | 0.32 |
| Debt / EBITDA | 1.46 | 1.46 | 1.05 | 0.58 | 0.65 | 1.65 | 4.09 | 2.04 | 1.06 | 1.81 | 1.85 |
| Net Debt / Equity | — | 0.20 | 0.21 | 0.14 | 0.02 | 0.27 | 0.30 | 0.16 | 0.13 | 0.30 | 0.30 |
| Net Debt / EBITDA | 0.85 | 0.85 | 0.70 | 0.42 | 0.05 | 0.91 | 2.12 | 0.83 | 0.63 | 1.69 | 1.74 |
| Debt / FCF | — | — | 8.15 | 5.57 | 0.10 | 3.21 | — | 1.33 | 1.58 | 4.70 | 6.45 |
| Interest Coverage | 351.45 | 351.45 | 87.53 | 22.24 | 63.67 | 16.54 | 0.35 | 5.28 | 10.33 | 16.37 | 23.07 |
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 | 1.59 | 1.59 | 1.29 | 1.03 | 1.41 | 1.63 | 2.03 | 4.11 | 2.31 | 0.97 | 0.93 |
| Quick Ratio | 1.46 | 1.46 | 1.17 | 0.90 | 1.30 | 1.55 | 1.97 | 3.95 | 2.16 | 0.79 | 0.78 |
| Cash Ratio | 1.10 | 1.10 | 0.70 | 0.39 | 1.04 | 1.28 | 1.80 | 3.61 | 1.65 | 0.38 | 0.30 |
| Asset Turnover | — | 0.20 | 0.22 | 0.25 | 0.28 | 0.26 | 0.15 | 0.17 | 0.19 | 0.16 | 0.16 |
| Inventory Turnover | 12.19 | 12.19 | 10.97 | 12.21 | 9.65 | 19.03 | 23.88 | 15.49 | 16.80 | 11.20 | 14.99 |
| Days Sales Outstanding | — | 26.96 | 74.17 | 42.65 | 35.83 | 19.29 | 16.93 | 15.58 | 18.53 | 19.65 | 17.73 |
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 | 5.6% | 6.7% | 8.2% | 10.6% | 6.9% | 1.9% | 2.7% | 4.7% | 4.5% | 3.7% | 3.0% |
| Payout Ratio | 74.0% | 74.0% | 68.5% | 256.2% | 39.4% | 14.6% | — | 309.6% | 66.6% | 77.3% | 64.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.5% | 9.1% | 12.0% | 4.1% | 17.6% | 12.8% | — | 1.5% | 6.7% | 4.8% | 4.6% |
| FCF Yield | — | — | 3.2% | 2.1% | 15.4% | 7.6% | — | 9.3% | 7.5% | 4.5% | 3.9% |
| Buyback Yield | 0.1% | 0.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 5.7% | 6.9% | 8.2% | 10.6% | 6.9% | 1.9% | 2.7% | 4.7% | 4.5% | 3.7% | 3.0% |
| Shares Outstanding | — | $1.9B | $1.9B | $1.9B | $1.5B | $972M | $951M | $936M | $921M | $866M | $835M |
Capital Expenditure Overrun Risk
According to recent market data, Woodside trades at a forward P/E of 9.06 and an EV/EBITDA of 4.33, suggesting that investors are pricing in significant commodity price volatility and the execution risks associated with the company's massive capital expenditure requirements for the Scarborough project development.
The current valuation multiples appear to reflect a cautious market stance, likely discounting the company relative to global peers due to its concentrated Australian asset base and regulatory exposure. This pricing suggests that the market is prioritizing immediate cash flow stability over the long-term volume growth potential inherent in the company's current development pipeline.
Based on reported financial figures, Woodside's ROIC has compressed from a peak of 12.0% in 2022Q4 to 2.6% in 2025Q4, indicating that the company is struggling to generate adequate returns on its expanding asset base following the integration of BHP's petroleum assets and subsequent heavy investment.
The sharp decline in return on capital suggests that the capital-intensive nature of recent acquisitions and ongoing offshore projects is currently outpacing the incremental earnings generated. Investors should monitor whether future project commissioning can improve these returns or if the company's cost of capital will continue to erode shareholder value.
As reported in quarterly filings, Woodside's cash conversion cycle has fluctuated significantly, reaching -38 days in 2025Q4, which highlights the company's reliance on complex, long-term LNG contract structures that create periodic mismatches between physical production, tanker loading schedules, and the eventual recognition of cash revenue.
The volatility in DSO and DPO metrics suggests that Woodside's working capital efficiency is highly sensitive to the timing of large-scale shipments and the contractual terms of its Asian export agreements. This inconsistency warrants further investigation into how management balances liquidity needs against the inherent delays in the LNG supply chain.
Based on recent financial statements, Woodside maintains a conservative debt-to-equity ratio of 0.34, which provides the company with a resilient balance sheet buffer to navigate the current high-interest-rate environment while funding its multi-billion dollar development pipeline without immediate risk of breaching debt covenants.
While the absolute debt level has increased to $13.7 billion, the company's leverage remains well-positioned compared to global integrated peers. This financial discipline appears to be a core pillar of management's strategy, allowing for continued dividend distributions despite the significant cash outflows required for ongoing offshore infrastructure projects.
As indicated by institutional research standards, the P/E ratio is frequently misapplied to Woodside's business model because it fails to account for the massive non-cash depreciation and amortization charges inherent in long-life LNG infrastructure, which significantly distort statutory earnings relative to actual cash-generating capacity.
Analysts should prioritize EV/EBITDA or P/FCF metrics to better capture the underlying operational performance and cash flow availability. Relying on P/E risks obscuring the impact of decommissioning provisions and tax-related accounting adjustments that do not reflect the company's true ability to fund dividends and capital expenditures.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying WDS stock.
Woodside Energy Group Ltd's current P/E ratio is 13.3x. The historical average is 23.3x. This places it at the 31th percentile of its historical range.
Woodside Energy Group Ltd's current EV/EBITDA is 4.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.3x.
Woodside Energy Group Ltd's return on equity (ROE) is 7.2%. The historical average is 17.7%.
Based on historical data, Woodside Energy Group Ltd is trading at a P/E of 13.3x. This is at the 31th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Woodside Energy Group Ltd's current dividend yield is 5.55% with a payout ratio of 74.0%.
Woodside Energy Group Ltd has 34.9% gross margin and 29.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Woodside Energy Group Ltd's Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.