P/E ratio

Price divided by the last 12 months of earnings per share: what the market pays for one unit of a year's profit. Shown on stock rows as context; it never changes a state.

How to read it

P/E = price ÷ earnings per share over the last 12 months

A P/E of 25 means the price is 25 times last year's earnings per share. A higher number means investors pay more for each unit of current profit, usually because they expect it to grow. It says nothing about where the price goes next.

When it shows

• A recent listing or thin coverage.
• Negative or missing earnings (for example trusts or some miners).
• A delay in reported results, or a failed lookup.

ETF rows do not show it. The number is not coloured and not compared with the past.