Central Securities Corp. (CET) Key Metrics
CET valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.65B
- Enterprise value
- $1.64B
- P/E (TTM)
- 7.4 10-yr median 4.6
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 7.4 10-yr median 4.5
- Price / book
- 0.9 10-yr median 0.8
- EV / EBITDA
- — 10-yr median 4.3
- Dividend yield
- 4.95% $2.76 a year
- Beta
- 0.75
CET key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCET valuation Price multiples at each fiscal year-end price.
CET returns How much profit the business earns on the capital it uses.
CET per-share figures Results divided by the shares outstanding at year-end.
CET financial health Debt, liquidity and how easily interest is covered.
CET efficiency & capital use Working capital cycle and where the cash goes.
CET valuation history
CET returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CET debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CET cash returned to shareholders
CET price vs earnings per share
CET key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.47B | $1.30B | $1.07B | $911.9M | $1.22B | $856.5M | $856.9M | $633.1M | $688.9M | $542.2M |
| Enterprise value | $1.42B | $1.21B | $992.9M | $914.1M | $1.22B | $828.2M | $857.2M | $632.9M | $686.3M | $539.7M |
| P/E ratio | 5.5 | 4.5 | 4.8 | — | 3.4 | 11.6 | 3.4 | — | 4.1 | 4.8 |
| Price / sales | 16.9 | 4.4 | 18.7 | — | 3.4 | 10.7 | 3.3 | — | 3.9 | 4.6 |
| Price / book | 0.8 | 0.8 | 0.8 | 0.8 | 0.9 | 0.8 | 0.9 | 0.8 | 0.8 | 0.8 |
| Price / free cash flow | 31.2 | 34.8 | 29.1 | 22.1 | 21.2 | 26.2 | 38.1 | 25.7 | 38.3 | 23.6 |
| Price / operating cash flow | 55.8 | 34.8 | 28.2 | 22.1 | 21.2 | 26.2 | 38.1 | 25.7 | 38.3 | 23.6 |
| EV / sales | 16.3 | 4.1 | 17.3 | — | 3.4 | 10.4 | 3.3 | — | 3.9 | 4.6 |
| EV / EBITDA | 5.3 | 4.2 | 4.4 | — | 3.4 | 11.2 | 3.4 | — | 4.1 | 4.8 |
| EV / free cash flow | 30.1 | 32.4 | 26.9 | 22.2 | 21.2 | 25.3 | 38.1 | 25.7 | 38.2 | 23.5 |
| Earnings yield | 18.0% | 22.2% | 20.9% | −17.4% | 29.1% | 8.6% | 29.3% | −5.4% | 24.6% | 20.8% |
| Free cash flow yield | 3.2% | 2.9% | 3.4% | 4.5% | 4.7% | 3.8% | 2.6% | 3.9% | 2.6% | 4.2% |
| Dividend yield | 3.2% | 2.9% | 2.9% | 4.2% | 4.8% | 3.2% | 2.5% | 3.6% | 2.3% | 2.9% |
| Shareholder yield (dividends + buybacks) | 3.2% | 2.9% | 3.4% | 4.5% | 4.8% | 3.8% | 2.6% | 4.3% | 2.6% | 3.9% |
| Share price at fiscal year-end | $50.71 | $45.69 | $37.77 | $33.39 | $44.58 | $32.64 | $33.10 | $24.83 | $27.40 | $21.79 |
| Per share | ||||||||||
| Revenue per share | $3.00 | $10.43 | $2.02 | $0.00 | $13.21 | $3.04 | $9.93 | $0.00 | $6.95 | $4.74 |
| Earnings per share | $9.15 | $10.14 | $7.88 | −$5.81 | $12.97 | $2.81 | $9.70 | −$1.34 | $6.73 | $4.53 |
| Operating cash flow per share | $0.91 | $1.31 | $1.34 | $1.51 | $2.11 | $1.25 | $0.87 | $0.96 | $0.71 | $0.92 |
| Free cash flow per share | $1.62 | $1.31 | $1.30 | $1.51 | $2.11 | $1.25 | $0.87 | $0.96 | $0.71 | $0.92 |
| Cash per share | $1.97 | $3.20 | $2.90 | $0.02 | $0.02 | $1.10 | $0.03 | $0.01 | $0.11 | $0.10 |
| Book value per share | $61.68 | $55.30 | $46.49 | $41.48 | $48.87 | $39.49 | $38.42 | $30.02 | $32.86 | $27.12 |
| Tangible book value per share | $61.68 | $55.30 | $46.49 | $41.48 | $48.87 | $39.49 | $38.42 | $30.02 | $32.86 | $27.12 |
| Dividends per share | $1.60 | $1.34 | $1.08 | $1.41 | $2.12 | $1.03 | $0.84 | $0.90 | $0.64 | $0.64 |
| Capex per share | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | $0.09 | $0.10 | $0.11 | $0.11 | $0.01 | $0.02 | $0.04 | $0.00 | $0.00 | $0.00 |
| Shares outstanding | 29.0M | 28.4M | 28.4M | 27.3M | 27.3M | 26.2M | 25.9M | 25.5M | 25.1M | 24.9M |
| Change in shares outstanding | +2.1% | 0.0% | +3.9% | +0.2% | +3.9% | +1.4% | +1.5% | +1.4% | +1.1% | +0.5% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 15.8% | 19.9% | 18.2% | −12.9% | 29.9% | 7.3% | 28.5% | −4.3% | 22.5% | 17.9% |
| Return on invested capital (ROIC) | 13.0% | 16.7% | 18.8% | −10.2% | 30.2% | 7.4% | 28.5% | −3.4% | 22.6% | 18.0% |
| Return on assets (ROA) | 15.8% | 19.9% | 18.2% | −12.9% | 29.8% | 7.3% | 28.5% | −4.3% | 22.5% | 17.9% |
| Return on tangible assets | 14.8% | 18.3% | 16.9% | −14.0% | 26.5% | 7.1% | 25.2% | −4.5% | 20.4% | 16.7% |
| Free cash flow margin | 54.1% | 12.6% | 64.3% | — | 15.9% | 40.9% | 8.8% | — | 10.3% | 19.4% |
| Income quality (OCF / net income) | 0.10 | 0.13 | 0.17 | — | 0.16 | 0.44 | 0.09 | — | 0.11 | 0.20 |
| Financial health | ||||||||||
| Total debt | $2.7M | $2.9M | $3.2M | $2.9M | $197,874 | $584,839 | $960,382 | $0 | $0 | $0 |
| Cash & short-term investments | $57.2M | $90.9M | $82.4M | $641,277 | $612,861 | $28.9M | $660,845 | $230,919 | $2.7M | $2.5M |
| Net debt | −$54.5M | −$87.9M | −$79.3M | $2.3M | −$414,987 | −$28.3M | $299,537 | −$230,919 | −$2.7M | −$2.5M |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt / assets | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net debt / EBITDA | −0.21 | −0.31 | −0.35 | — | −0.00 | −0.38 | 0.00 | — | −0.02 | −0.02 |
| Current ratio | — | — | — | 4.54 | 2.31 | 2.97 | 1.95 | 5.39 | 3.16 | 20.73 |
| Quick ratio | — | — | — | −255.37 | −28.93 | −51.50 | −119.41 | −425.53 | −55.53 | −299.91 |
| Working capital | — | — | — | $1.2M | $740,725 | $1.1M | $525,697 | $522,240 | $2.1M | $3.0M |
| Invested capital | $1.73B | $1.48B | $1.24B | $1.14B | $1.33B | $1.01B | $994.9M | $765.1M | $823.7M | $672.2M |
| Tangible asset value | $1.79B | $1.57B | $1.32B | $1.13B | $1.33B | $1.04B | $994.8M | $765.3M | $826.3M | $674.7M |
| Net current asset value | $54.9M | $87.5M | −$1.6M | −$1.5M | $1.1M | $1.0M | $118,723 | $522,240 | $2.0M | $3.0M |
| Graham number | $112.69 | $112.35 | $90.78 | — | $119.41 | $49.96 | $91.55 | — | $70.54 | $52.55 |
| Graham net-net per share | $1.89 | $3.15 | $4.28 | $1.56 | $0.36 | $1.66 | $1.30 | $1.02 | $1.23 | $1.08 |
| Capital allocation | ||||||||||
| Dividends paid | $46.3M | $37.9M | $30.8M | $38.5M | $57.8M | $27.0M | $21.6M | $23.0M | $16.1M | $16.0M |
| Share buybacks (net) | $935,350 | — | $5.8M | $2.7M | — | $5.4M | $428,002 | $4.0M | $1.7M | $5.1M |
| Dividend payout ratio | 17.5% | 13.2% | 13.8% | — | 16.3% | 36.7% | 8.6% | — | 9.5% | 14.2% |
| Dividends + buybacks / free cash flow | 100.5% | 101.7% | 99.3% | 99.9% | 100.6% | 99.1% | 98.1% | 109.9% | 99.1% | 91.8% |
| Capex / revenue | 0.0% | 0.0% | 2.1% | — | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% |
| Capex / operating cash flow | 0.0% | 0.1% | 3.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / depreciation | 0.03 | 0.18 | 16.83 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| R&D / revenue | — | — | 0.0% | — | 0.0% | 0.0% | 0.0% | — | — | — |
| SG&A / revenue | 8.6% | 2.7% | 11.6% | — | 1.8% | 7.5% | 2.2% | — | 3.1% | 4.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 7.4 | 2.2 | 5.9 | — | 0.7 | 2.4 | 0.6 | — | 1.1 | 1.7 |
| Days of inventory on hand | — | — | 6,535.9 | 4,188.5 | 1,546.0 | 3,763.8 | 4,730.7 | 4,498.0 | 4,557.0 | 2,120.4 |
| Days payables outstanding | — | — | — | — | — | — | — | 40.7 | 42.5 | 0.0 |
| Cash conversion cycle (days) | — | — | — | — | — | — | — | — | 4,515.6 | 2,122.1 |
| Receivables turnover | 49.22 | 162.22 | 61.57 | 0.00 | 540.53 | 150.89 | 620.31 | 0.00 | 326.09 | 211.23 |
| Payables turnover | — | — | — | — | — | — | — | 8.96 | 8.59 | — |
| Inventory turnover | — | — | 0.06 | 0.09 | 0.24 | 0.10 | 0.08 | 0.08 | 0.08 | 0.17 |
| Asset turnover | 0.05 | 0.20 | 0.05 | 0.00 | 0.30 | 0.08 | 0.29 | 0.00 | 0.23 | 0.19 |
| Average receivables | $1.8M | $1.8M | $931,774 | $800,693 | $666,582 | $529,472 | $414,253 | $439,073 | $536,200 | $558,818 |
| Average payables | — | — | — | — | — | — | — | $495,031 | $495,031 | $0 |
| Average inventory | — | — | $86.0M | $53.2M | $23.6M | $48.4M | $59.2M | $54.7M | $53.1M | $24.0M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from CET's annual financial statements (latest annual report filed December 31, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CET valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Central Securities traded at 5.5 times earnings, against a 10-year median of 4.6. Based on the latest twelve months, the trailing P/E is 7.4. Central Securities earned a return on equity of 15.8% and a return on invested capital of 13.0% in fiscal 2025. It ended the year with $2.7 million of debt and $57.2 million in cash and short-term investments, a net cash position of $54.5 million. It returned $47.3 million to shareholders: $46.3 million in dividends and $0.9 million in share buybacks, 100% of free cash flow. The share count rose 16.5% from 24.9M to 29.0M over 9 years.
See the CET income statement, the CET chart for price history, or the CET stock overview for the latest quote and news.
CET key metrics FAQ
What is Central Securities's P/E ratio?
Central Securities's trailing P/E ratio is 7.4 based on the last twelve months of earnings (as of October 18, 2026). At the end of fiscal 2025 it was 5.5, compared with a 10-year median of 4.6.
What is Central Securities's EV/EBITDA?
Central Securities's enterprise value was 5.3 times EBITDA at the end of fiscal 2025 (enterprise value $1.4 billion, EBITDA $265.4 million).
What is Central Securities's return on equity?
Central Securities's return on equity (ROE) was 15.8% in fiscal 2025: net income of $265.2 million on average shareholders' equity of $1.7 billion.
What is Central Securities's ROIC?
Central Securities's return on invested capital was 13.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Central Securities have?
Central Securities had total debt of $2.7 million at the end of fiscal 2025, a debt-to-equity ratio of 0.00 and more cash than debt.
What is Central Securities's dividend yield?
Central Securities's forward dividend yield is 4.95%. Central Securities paid $46.3 million in dividends in fiscal 2025 ($1.60 per share), a payout ratio of 17.5%.
Does Central Securities buy back its shares?
Yes. Central Securities spent $0.9 million on net share repurchases in fiscal 2025 Shares outstanding changed +2.1% over the year, to 29.0M..
What is Central Securities's free cash flow yield?
Central Securities generated $47.1 million of free cash flow in fiscal 2025, a free cash flow yield of 3.2% on its market value at year-end ($1.5 billion).