Basis: Current FMP quote-based enterprise value / four-quarter operating income plus matched D&A. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the EV/EBITDA ratio high or low?
The EV/EBITDA ratio of 14.07x is in line with its estimated 5-year average of 14.54x, around the middle of its estimated 5-year range (11.37x–19.31x).
As of 2026-10-06T16:32:43.314Z. 7.56% above its estimated 12-month average of 13.08x.
Calculation as of: 2026-10-06T16:32:43.314Z.
Quote observation: 2026-10-06T16:30:18.000Z. Amounts in USD. The price header may show a later quote.
FMP input reference: 9312dbed0ab52b0319df66566535e81e96fb3b33008de9b3b705eca23efb91be
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation. Historical series through 2026-10-05.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
EV/EBITDA RATIO
14.07x
EV/EBITDA RATIO AVG TTM
13.08x
EV/EBITDA RATIO AVG 3Y
13.05x
EV/EBITDA RATIO AVG 5Y
14.54x
EV/EBITDA RATIO AVG 10Y
14.30x
EV/EBITDA RATIO AVG 15Y
12.55x
EV/EBITDA RATIO AVG 20Y
12.16x
CURRENT VS TTM AVG
+7.56%
CURRENT VS 3Y AVG
+7.82%
CURRENT VS 5Y AVG
-3.26%
CURRENT VS 10Y AVG
-1.60%
CURRENT VS 15Y AVG
+12.14%
CURRENT VS 20Y AVG
+15.71%
SECTOR MEDIAN · UTILITIES
12.89x
median of 53 covered companies
CURRENT VS SECTOR MEDIAN
+9.15%
vs the sector median at left
Market Cap
$2.50B
EV/EBITDA Ratio
10.82x
TTM Avg
10.42x
3Y Avg
11.12x
5Y Avg
9.55x
Market Cap
$2.65B
EV/EBITDA Ratio
12.43x
TTM Avg
13.40x
3Y Avg
14.46x
5Y Avg
15.16x
Market Cap
$1.99B
EV/EBITDA Ratio
7.64x
TTM Avg
8.94x
3Y Avg
9.39x
5Y Avg
9.91x
Market Cap
$2.94B
EV/EBITDA Ratio
9.68x
TTM Avg
10.19x
3Y Avg
10.51x
5Y Avg
11.31x
Market Cap
$3.27B
EV/EBITDA Ratio
10.42x
TTM Avg
17.55x
3Y Avg
17.55x
5Y Avg
17.55x
Market Cap
$1.46B
EV/EBITDA Ratio
N/A
TTM Avg
38.75x
3Y Avg
38.75x
5Y Avg
38.75x
Market Cap
$1.00B
EV/EBITDA Ratio
15.56x
TTM Avg
16.10x
3Y Avg
18.12x
5Y Avg
22.21x
| NAME | MARKET CAP | EV/EBITDA RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| H2O America (HTO) | $2.45B | 14.07x | 13.08x | 13.05x | 14.54x |
| ReNew Energy Global Plc (RNW)vs › | $2.50B | 10.82x | 10.42x | 11.12x | 9.55x |
| newcleo plc Ordinary Shares (NWCL)vs › | $2.36B | N/A | N/A | N/A | N/A |
| MGE Energy, Inc. (MGEE)vs › | $2.65B | 12.43x | 13.40x | 14.46x | 15.16x |
| Northwest Natural Holding Company (NWN)vs › | $1.99B | 7.64x | 8.94x | 9.39x | 9.91x |
| Avista Corporation (AVA)vs › | $2.94B | 9.68x | 10.19x | 10.51x | 11.31x |
| SOLV Energy, Inc. Class A Common Stock (MWH)vs › | $3.27B | 10.42x | 17.55x | 17.55x | 17.55x |
| Fluence Energy, Inc. (FLNC)vs › | $1.46B | N/A | 38.75x | 38.75x | 38.75x |
| Middlesex Water Company (MSEX)vs › | $1.00B | 15.56x | 16.10x | 18.12x | 22.21x |
| XPLR Infrastructure, LP (XIFR)vs › | $979.97M | 10.33x | 11.25x | 16.04x | 16.04x |
At 14.1, EV/EBITDA is above its estimated 20-year median — higher than 77% of readings in its estimated 20-year history.
Historical values estimate market capitalization from statement-period weighted shares. Comparisons with the current quote-based value are approximate. Only filing versions delivered by FMP are available for the historical calculation.
estimated 20-year low
6.7
median
12.0
estimated 20-year high
28.2
EV/EBITDA = Enterprise Value / EBITDA (TTM)
Enterprise value to EBITDA is a capital-structure-neutral valuation multiple, useful for comparing companies with different debt levels and tax rates.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | EV/EBITDA RATIO |
|---|---|
| 2026-10-05 | 13.87x |
| 2026-10-02 | 14.10x |
| 2026-10-01 | 14.11x |
| 2026-09-30 | 14.31x |
| 2026-09-29 | 14.31x |
| 2026-09-28 | 14.27x |
| 2026-09-25 | 14.39x |
| 2026-09-24 | 14.38x |
| 2026-09-23 | 14.39x |
| 2026-09-22 | 14.48x |
| 2026-09-21 | 14.44x |
| 2026-09-18 | 14.45x |
| 2026-09-17 | 14.50x |
| 2026-09-16 | 14.51x |
| 2026-09-15 | 14.42x |
| 2026-09-14 | 14.41x |
| 2026-09-11 | 14.45x |
| 2026-09-10 | 14.50x |
| 2026-09-09 | 14.67x |
| 2026-09-08 | 14.74x |
| 2026-09-04 | 14.67x |
| 2026-09-03 | 14.71x |
| 2026-09-02 | 14.55x |
| 2026-09-01 | 14.60x |
| 2026-08-31 | 14.54x |
| 2026-08-28 | 14.57x |
| 2026-08-27 | 14.51x |
| 2026-08-26 | 14.59x |
| 2026-08-25 | 14.61x |
| 2026-08-24 | 14.70x |
| 2026-08-21 | 14.56x |
| 2026-08-20 | 14.66x |
| 2026-08-19 | 14.57x |
| 2026-08-18 | 14.53x |
| 2026-08-17 | 14.52x |
| 2026-08-14 | 14.61x |
| 2026-08-13 | 14.53x |
| 2026-08-12 | 14.44x |
| 2026-08-11 | 14.40x |
| 2026-08-10 | 14.26x |
| 2026-08-07 | 14.45x |
| 2026-08-06 | 14.33x |
| 2026-08-05 | 14.33x |
| 2026-08-04 | 14.39x |
| 2026-08-03 | 14.23x |
| 2026-07-31 | 14.27x |
| 2026-07-30 | 14.35x |
| 2026-07-29 | 14.60x |
| 2026-07-28 | 13.99x |
| 2026-07-27 | 13.89x |
| 2026-07-24 | 13.94x |
| 2026-07-23 | 13.95x |
| 2026-07-22 | 13.95x |
| 2026-07-21 | 13.96x |
| 2026-07-20 | 14.03x |
| 2026-07-17 | 14.14x |
| 2026-07-16 | 14.01x |
| 2026-07-15 | 13.79x |
| 2026-07-14 | 13.82x |
| 2026-07-13 | 13.76x |
| 2026-07-10 | 13.63x |
| 2026-07-09 | 13.63x |
| 2026-07-08 | 13.62x |
| 2026-07-07 | 13.67x |
| 2026-07-06 | 13.60x |
| 2026-07-02 | 13.76x |
| 2026-07-01 | 13.54x |
| 2026-06-30 | 13.54x |
| 2026-06-29 | 13.57x |
| 2026-06-26 | 13.53x |
| 2026-06-25 | 13.42x |
| 2026-06-24 | 13.34x |
| 2026-06-23 | 13.13x |
| 2026-06-22 | 13.02x |
| 2026-06-18 | 13.02x |
| 2026-06-17 | 12.99x |
| 2026-06-16 | 13.09x |
| 2026-06-15 | 13.09x |
| 2026-06-12 | 13.07x |
| 2026-06-11 | 13.01x |
| 2026-06-10 | 13.16x |
| 2026-06-09 | 13.14x |
| 2026-06-08 | 12.96x |
| 2026-06-05 | 13.11x |
| 2026-06-04 | 13.00x |
| 2026-06-03 | 12.94x |
| 2026-06-02 | 13.14x |
| 2026-06-01 | 13.05x |
| 2026-05-29 | 13.17x |
| 2026-05-28 | 13.09x |
| 2026-05-27 | 13.19x |
| 2026-05-26 | 13.14x |
| 2026-05-22 | 13.20x |
| 2026-05-21 | 13.13x |
| 2026-05-20 | 13.05x |
| 2026-05-19 | 12.98x |
| 2026-05-18 | 13.00x |
| 2026-05-15 | 12.83x |
| 2026-05-14 | 12.91x |
| 2026-05-13 | 13.00x |
| 2026-05-12 | 13.09x |
| 2026-05-11 | 13.11x |
| 2026-05-08 | 13.18x |
| 2026-05-07 | 13.08x |
| 2026-05-06 | 13.14x |
| 2026-05-05 | 13.19x |
| 2026-05-04 | 13.10x |
| 2026-05-01 | 13.02x |
| 2026-04-30 | 12.96x |
| 2026-04-29 | 13.63x |
| 2026-04-28 | 13.83x |
| 2026-04-27 | 13.86x |
| 2026-04-24 | 13.88x |
| 2026-04-23 | 14.08x |
| 2026-04-22 | 13.92x |
| 2026-04-21 | 13.83x |
| 2026-04-20 | 13.94x |
| 2026-04-17 | 13.68x |
| 2026-04-16 | 13.85x |
| 2026-04-15 | 13.70x |
| 2026-04-14 | 13.68x |
| 2026-04-13 | 13.70x |
| 2026-04-10 | 13.88x |
| 2026-04-09 | 13.90x |
| 2026-04-08 | 13.70x |
| 2026-04-07 | 13.77x |
| 2026-04-06 | 13.77x |
| 2026-04-02 | 13.82x |
| 2026-04-01 | 13.73x |
| 2026-03-31 | 13.75x |
| 2026-03-30 | 13.79x |
| 2026-03-27 | 13.67x |
| 2026-03-26 | 13.66x |
| 2026-03-25 | 13.52x |
| 2026-03-24 | 13.48x |
| 2026-03-23 | 13.49x |
| 2026-03-20 | 13.47x |
| 2026-03-19 | 13.49x |
| 2026-03-18 | 13.55x |
| 2026-03-17 | 13.68x |
| 2026-03-16 | 13.76x |
| 2026-03-13 | 13.79x |
| 2026-03-12 | 13.59x |
| 2026-03-11 | 13.45x |
| 2026-03-10 | 13.59x |
| 2026-03-09 | 13.74x |
| 2026-03-06 | 13.70x |
| 2026-03-05 | 13.49x |
| 2026-03-04 | 13.66x |
| 2026-03-03 | 13.50x |
| 2026-03-02 | 13.24x |
| 2026-02-27 | 13.16x |
| 2026-02-26 | 12.48x |
| 2026-02-25 | 12.62x |
| 2026-02-24 | 12.58x |
| 2026-02-23 | 12.62x |
| 2026-02-20 | 12.62x |
| 2026-02-19 | 12.61x |
| 2026-02-18 | 12.55x |
| 2026-02-17 | 12.54x |
| 2026-02-13 | 12.58x |
| 2026-02-12 | 12.41x |
| 2026-02-11 | 12.24x |
| 2026-02-10 | 12.27x |
| 2026-02-09 | 12.16x |
| 2026-02-06 | 12.29x |
| 2026-02-05 | 12.43x |
| 2026-02-04 | 12.35x |
| 2026-02-03 | 12.33x |
| 2026-02-02 | 12.31x |
| 2026-01-30 | 12.25x |
| 2026-01-29 | 12.24x |
| 2026-01-28 | 12.16x |
| 2026-01-27 | 12.29x |
| 2026-01-26 | 12.33x |
| 2026-01-23 | 12.29x |
| 2026-01-22 | 12.31x |
| 2026-01-21 | 12.35x |
| 2026-01-20 | 12.33x |
| 2026-01-16 | 12.43x |
| 2026-01-15 | 12.48x |
| 2026-01-14 | 12.45x |
| 2026-01-13 | 12.26x |
| 2026-01-12 | 12.22x |
| 2026-01-09 | 12.20x |
| 2026-01-08 | 12.07x |
| 2026-01-07 | 12.07x |
| 2026-01-06 | 12.09x |
| 2026-01-05 | 12.00x |
| 2026-01-02 | 11.93x |
| 2025-12-31 | 11.90x |
| 2025-12-30 | 11.93x |
| 2025-12-29 | 11.88x |
| 2025-12-26 | 11.88x |
| 2025-12-24 | 11.94x |
| 2025-12-23 | 11.95x |
| 2025-12-22 | 11.99x |
| 2025-12-19 | 11.89x |
| 2025-12-18 | 12.01x |
| 2025-12-17 | 12.02x |
| 2025-12-16 | 11.94x |
| 2025-12-15 | 11.88x |
| 2025-12-12 | 11.90x |
| 2025-12-11 | 11.83x |
| 2025-12-10 | 11.77x |
| 2025-12-09 | 11.62x |
| 2025-12-08 | 11.62x |
| 2025-12-05 | 11.77x |
| 2025-12-04 | 11.72x |
| 2025-12-03 | 11.78x |
| 2025-12-02 | 11.72x |
| 2025-12-01 | 11.65x |
| 2025-11-28 | 11.60x |
| 2025-11-26 | 11.59x |
| 2025-11-25 | 11.55x |
| 2025-11-24 | 11.43x |
| 2025-11-21 | 11.40x |
| 2025-11-20 | 11.37x |
| 2025-11-19 | 11.37x |
| 2025-11-18 | 11.54x |
| 2025-11-17 | 11.67x |
| 2025-11-14 | 11.71x |
| 2025-11-13 | 11.72x |
| 2025-11-12 | 11.67x |
| 2025-11-11 | 11.67x |
| 2025-11-10 | 11.62x |
| 2025-11-07 | 11.74x |
| 2025-11-06 | 11.70x |
| 2025-11-05 | 11.70x |
| 2025-11-04 | 11.73x |
| 2025-11-03 | 11.57x |
| 2025-10-31 | 11.58x |
| 2025-10-30 | 11.56x |
| 2025-10-29 | 11.62x |
| 2025-10-28 | 11.96x |
| 2025-10-27 | 12.16x |
| 2025-10-24 | 12.12x |
| 2025-10-23 | 12.13x |
| 2025-10-22 | 12.08x |
| 2025-10-21 | 12.14x |
| 2025-10-20 | 12.17x |
| 2025-10-17 | 12.07x |
| 2025-10-16 | 12.04x |
| 2025-10-15 | 11.90x |
| 2025-10-14 | 11.79x |
| 2025-10-13 | 11.78x |
| 2025-10-10 | 11.89x |
| 2025-10-09 | 11.85x |
| 2025-10-08 | 11.81x |
| 2025-10-07 | 11.76x |
| 2025-10-06 | 11.70x |
| 2025-10-03 | 11.71x |
| 2025-10-02 | 11.66x |
| 2025-10-01 | 11.72x |
| 2025-09-30 | 11.89x |
| 2025-09-29 | 11.81x |
| 2025-09-26 | 11.85x |
| 2025-09-25 | 11.81x |
| 2025-09-24 | 11.86x |
| 2025-09-23 | 11.90x |
Showing the most recent 260 of 5,030 data points. The chart above shows the full history.
