Latest Ratios: P/E Ratio -3.7x · EV/EBITDA 7.9x · ROE N/A. (2000–2025 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 | $556M | $242M | $244M | $483M | $810M | $460M | $307M | $782M | $573M | $456M | $265M |
| Enterprise Value | $767M | $452M | $530M | $713M | $1.1B | $957M | $901M | $1.5B | $1.2B | $1.3B | $1.2B |
| P/E Ratio → | -3.70 | — | — | 29.64 | 3.51 | — | 8.35 | 10.69 | 2.30 | 5.91 | — |
| P/S Ratio | 1.11 | 0.48 | 0.46 | 0.91 | 0.88 | 0.82 | 0.89 | 1.46 | 0.99 | 0.94 | 0.66 |
| P/B Ratio | — | — | — | 15.50 | 106.05 | — | — | — | — | — | — |
| P/FCF | 20.04 | 8.70 | — | 14.11 | 3.29 | 4.55 | 3.52 | — | 2.88 | 16.02 | — |
| P/OCF | 7.20 | 3.13 | 4.10 | 4.19 | 2.38 | 3.44 | 2.83 | 3.37 | 1.78 | 2.86 | 18.68 |
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 | 1.01 | 1.34 | 1.14 | 1.71 | 2.60 | 2.76 | 2.02 | 2.77 | 3.04 |
| EV / EBITDA | 7.90 | 4.66 | 3.98 | 4.12 | 1.79 | 3.16 | 7.44 | 5.53 | 2.96 | 5.08 | — |
| EV / EBIT | — | — | — | 9.07 | 2.97 | 46.65 | 13.03 | 25.25 | 3.94 | 11.97 | — |
| EV / FCF | — | 16.27 | — | 20.82 | 4.28 | 9.48 | 10.30 | — | 5.90 | 47.44 | — |
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 | 71.7% | 71.7% | 67.4% | 73.5% | 84.6% | 78.8% | 65.8% | 70.6% | 70.0% | 63.5% | 40.9% |
| Operating Margin | -10.5% | -10.5% | -8.0% | 5.5% | 49.3% | 34.0% | 0.2% | 22.2% | 42.5% | 22.6% | -82.6% |
| Net Profit Margin | -29.9% | -29.9% | -16.6% | 2.9% | 25.1% | -7.4% | 10.9% | 13.9% | 42.8% | 16.4% | -62.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | 80.3% | 3027.9% | — | — | — | — | — | — |
| ROA | -14.6% | -14.6% | -7.9% | 1.2% | 17.6% | -3.9% | 3.9% | 8.0% | 28.3% | 9.2% | -24.4% |
| ROIC | -32.5% | -32.5% | -12.8% | 8.6% | 135.6% | 44.8% | 0.1% | 24.7% | 62.3% | 27.0% | -56.6% |
| ROCE | -6.7% | -6.7% | -4.8% | 3.8% | 60.2% | 22.4% | 0.1% | 16.1% | 35.2% | 16.1% | -41.1% |
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 | — | — | — | 12.92 | 92.43 | — | — | — | — | — | — |
| Debt / EBITDA | 3.62 | 3.62 | 2.96 | 2.33 | 1.20 | 2.45 | 5.26 | 2.72 | 1.60 | 3.73 | — |
| Net Debt / Equity | — | — | — | 7.36 | 31.99 | — | — | — | — | — | — |
| Net Debt / EBITDA | 2.17 | 2.17 | 2.15 | 1.33 | 0.42 | 1.64 | 4.90 | 2.60 | 1.51 | 3.36 | — |
| Debt / FCF | — | 7.57 | — | 6.70 | 0.99 | 4.93 | 6.79 | — | 3.02 | 31.41 | — |
| Interest Coverage | -1.72 | -1.72 | -1.40 | 1.76 | 5.10 | 0.29 | 1.12 | 0.98 | 6.13 | 2.46 | -2.25 |
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 | 1.02 | 1.02 | 0.89 | 1.22 | 0.72 | 1.10 | 0.93 | 0.75 | 1.21 | 1.13 | 0.94 |
| Quick Ratio | 1.02 | 1.02 | 0.89 | 1.22 | 0.72 | 1.10 | 0.93 | 0.75 | 1.21 | 1.13 | 0.94 |
| Cash Ratio | 0.60 | 0.60 | 0.44 | 0.80 | 0.58 | 0.76 | 0.38 | 0.17 | 0.18 | 0.59 | 0.35 |
| Asset Turnover | — | 0.52 | 0.48 | 0.48 | 0.64 | 0.47 | 0.37 | 0.53 | 0.68 | 0.54 | 0.48 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 61.58 | 62.12 | 47.81 | 31.76 | 42.30 | 52.30 | 53.65 | 73.23 | 58.60 | 97.64 |
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 | 1.1% | 2.5% | 2.4% | 0.3% | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | 9.4% | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 3.4% | 28.5% | — | 12.0% | 9.4% | 43.4% | 16.9% | — |
| FCF Yield | 5.0% | 11.5% | — | 7.1% | 30.4% | 22.0% | 28.4% | — | 34.7% | 6.2% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.1% | 2.5% | 2.4% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $148M | $147M | $148M | $145M | $142M | $142M | $141M | $139M | $138M | $96M |
Includes 30+ ratios · 26 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 WTI stock.
W&T Offshore, Inc.'s current P/E ratio is -3.7x. The historical average is 12.2x.
W&T Offshore, Inc.'s current EV/EBITDA is 7.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.5x.
Based on historical data, W&T Offshore, Inc. is trading at a P/E of -3.7x. Compare with industry peers and growth rates for a complete picture.
W&T Offshore, Inc.'s current dividend yield is 1.08%.
W&T Offshore, Inc. has 71.7% gross margin and -10.5% operating margin.
W&T Offshore, Inc.'s Debt/EBITDA ratio is 3.6x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Negative equity and extreme margin volatility
Metrics are mathematically derived from official filings.
Valuation Discounted for Extreme Risk
WTI trades at a forward EV/EBITDA of 4.72x, a significant discount to the peer median of 6.39x, which appears to price in the company's severe balance sheet distress and volatile earnings profile.
The current P/E is meaningless due to negative earnings, but the EV/EBITDA multiple suggests the market is applying a steep risk premium. This discount is warranted given the company's negative equity and inconsistent profitability, indicating investors are demanding a high return for the substantial uncertainty.
Margin Volatility Obscures Earning Power
WTI's gross margin has swung from 3.9% to 70.3% over the past ten quarters, a volatility that makes assessing sustainable profitability impossible and suggests the business is highly exposed to commodity price swings.
The recent 52.0% gross margin in 2026Q2 is a sharp recovery from the 26.3% in the prior quarter, but this pattern of extreme fluctuation indicates the company lacks pricing power or cost stability. Operating margins have been negative for eight of the last ten quarters, confirming that core operations are not generating consistent profit.
Capital Returns Deeply Negative
WTI's ROIC has been negative for nine of the past ten quarters, hitting -43.8% in 2025Q4, which indicates the company is destroying value on the capital invested in its operations.
The brief positive ROIC of 5.0% in 2026Q2 is an outlier in a trend of severe value destruction. This persistent negative return on capital, combined with a negative equity base, suggests the company's asset base is not generating adequate returns to cover its cost of capital, raising questions about long-term viability.
Leverage Constrained by Negative Equity
With shareholder equity at -$196.2M, traditional leverage ratios are undefined, but the absolute debt load of $353.4M against a $959.5M asset base creates significant refinancing risk.
The D/E ratio is meaningless with negative equity, but the D/EBITDA of 7.33x in 2026Q2, while improved from prior quarters, remains elevated. Interest coverage of 2.69x is adequate for now but is highly sensitive to EBITDA swings, and any deterioration could quickly strain the company's ability to service its debt.
Liquidity Buffer Masked by Working Capital
The current ratio of 1.17 in 2026Q2 appears adequate, but it is supported by a cash position of $150.7M and masks the underlying volatility in working capital that has previously caused liquidity stress.
The quick ratio equals the current ratio, indicating no inventory dependence, which is positive. However, the history of the current ratio dipping below 1.0 (e.g., 0.89 in 2024Q4) shows the liquidity position is fragile and can be quickly eroded by negative working capital swings, as seen in the -$43.7M drain in 2026Q1.
EV/EBITDA Misleads on Solvency
The EV/EBITDA multiple is the most commonly misapplied ratio for WTI, as it ignores the negative equity and focuses on cash flow, obscuring the company's technically insolvent balance sheet.
Investors using EV/EBITDA may underestimate the risk because the metric does not account for the $196.2M equity deficit. A more appropriate metric would be a price-to-cash-flow ratio adjusted for the company's high debt service needs, or a focus on the absolute level of net debt relative to volatile EBITDA, which better captures the refinancing risk inherent in the capital structure.