Latest Ratios: P/E Ratio -15.0x · EV/EBITDA N/A · ROE -20.8%. (2002–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $485M | $477M | $418M | $254M | $373M | $766M | $886M | $388M | $704M | $789M | $557M |
| Enterprise Value | $431M | $423M | $372M | $182M | $393M | $771M | $858M | $374M | $613M | $809M | $616M |
| P/E Ratio → | -14.97 | — | — | — | — | — | — | — | 11.46 | 47.80 | — |
| P/S Ratio | 1.49 | 1.49 | 1.43 | 0.83 | 1.10 | 2.42 | 3.05 | 1.47 | 1.96 | 2.29 | 1.59 |
| P/B Ratio | 2.85 | 2.79 | 2.28 | 1.23 | 0.99 | 1.80 | 2.02 | 0.85 | 1.15 | 1.45 | 1.08 |
| P/FCF | 335.75 | 938.42 | — | — | — | — | 46.89 | — | 20.52 | 20.98 | 10.57 |
| P/OCF | 156.95 | 154.33 | — | — | 4788.26 | — | 36.79 | — | 18.81 | 19.12 | 10.00 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.32 | 1.27 | 0.60 | 1.16 | 2.44 | 2.95 | 1.42 | 1.71 | 2.35 | 1.76 |
| EV / EBITDA | — | — | — | — | — | 877.81 | — | — | 37.20 | 89.97 | 45.16 |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 832.39 | — | — | — | — | 45.40 | — | 17.87 | 21.50 | 11.67 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.6% | 54.6% | 53.9% | 50.9% | 51.4% | 52.4% | 53.9% | 56.9% | 43.4% | 41.8% | 41.2% |
| Operating Margin | -12.5% | -12.5% | -13.7% | -63.3% | -15.1% | -9.0% | -12.1% | -63.3% | -2.6% | -4.1% | -3.2% |
| Net Profit Margin | -11.5% | -11.5% | -11.6% | -60.7% | -15.5% | -8.4% | -10.8% | -63.1% | 17.1% | 4.7% | -2.0% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -20.8% | -20.8% | -17.5% | -63.1% | -13.1% | -6.1% | -7.0% | -31.2% | 10.6% | 3.1% | -1.4% |
| ROA | -13.4% | -13.4% | -11.4% | -43.4% | -9.7% | -4.8% | -5.5% | -23.3% | 8.0% | 2.3% | -1.0% |
| ROIC | -23.6% | -23.6% | -22.1% | -54.2% | -9.3% | -5.1% | -6.2% | -25.9% | -1.3% | -1.9% | -1.4% |
| ROCE | -20.1% | -20.1% | -18.6% | -57.0% | -11.0% | -5.8% | -6.7% | -25.6% | -1.3% | -2.2% | -1.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.06 | 0.02 | 0.17 | 0.08 | 0.05 | 0.09 | 0.22 | 0.17 | 0.20 |
| Debt / EBITDA | — | — | — | — | — | 38.48 | — | — | 8.28 | 10.42 | 7.77 |
| Net Debt / Equity | — | -0.32 | -0.25 | -0.35 | 0.05 | 0.01 | -0.06 | -0.03 | -0.15 | 0.04 | 0.11 |
| Net Debt / EBITDA | — | — | — | — | — | 5.65 | — | — | -5.53 | 2.18 | 4.28 |
| Debt / FCF | — | -106.03 | — | — | — | — | -1.49 | — | -2.65 | 0.52 | 1.11 |
| Interest Coverage | -75.14 | -75.14 | — | — | -6.91 | -26.48 | -40.87 | -184.37 | -1.88 | -4.64 | -4.04 |
Net cash position: cash ($54M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.19 | 2.19 | 2.21 | 2.12 | 1.95 | 1.93 | 2.45 | 2.97 | 4.30 | 2.93 | 2.21 |
| Quick Ratio | 1.49 | 1.49 | 1.40 | 1.46 | 1.29 | 1.24 | 1.60 | 1.80 | 3.75 | 2.25 | 1.43 |
| Cash Ratio | 0.72 | 0.72 | 0.73 | 0.83 | 0.53 | 0.39 | 0.84 | 1.06 | 3.11 | 1.32 | 0.70 |
| Asset Turnover | — | 1.20 | 1.04 | 0.96 | 0.64 | 0.57 | 0.52 | 0.44 | 0.43 | 0.49 | 0.49 |
| Inventory Turnover | 2.77 | 2.77 | 2.17 | 2.46 | 2.97 | 2.93 | 2.76 | 1.90 | 2.86 | 3.00 | 2.31 |
| Days Sales Outstanding | — | 55.09 | 53.83 | 60.06 | 56.92 | 65.21 | 46.80 | 47.22 | 44.25 | 41.77 | 48.40 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | 8.7% | 2.1% | — |
| FCF Yield | 0.3% | 0.1% | — | — | — | — | 2.1% | — | 4.9% | 4.8% | 9.5% |
| Buyback Yield | 0.0% | 0.0% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.4% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.4% |
| Shares Outstanding | — | $42M | $41M | $40M | $39M | $39M | $38M | $38M | $37M | $38M | $37M |
Includes 30+ ratios · 25 years · Updated daily
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Quick answers to the most common questions about buying ANGO stock.
AngioDynamics, Inc.'s current P/E ratio is -15.0x. The historical average is 51.1x.
AngioDynamics, Inc.'s return on equity (ROE) is -20.8%. The historical average is 3.5%.
Based on historical data, AngioDynamics, Inc. is trading at a P/E of -15.0x. Compare with industry peers and growth rates for a complete picture.
AngioDynamics, Inc. has 54.6% gross margin and -12.5% operating margin.
Key Metrics
Top Statement Risk
Persistent operating losses against rising cost base
Metrics are mathematically derived from official filings.
Gross Margin Surge Meets SG&A Drag
Gross margin expanded roughly 670 basis points from 52.7% in 2025Q4 to 59.4% in 2027Q1, yet operating margin only reached -3.0%, implying commercial spend consumed nearly all of the gross-profit improvement, as reflected in AngioDynamics' reported quarterly figures.
The widening gap between a 59.4% gross margin and a -3.0% operating margin indicates the bottleneck to profitability sits in SG&A, not manufacturing economics. Compared to its own history, the trajectory is genuinely improving—operating margin recovered from -23.5% in 2026Q4—but sustaining breakeven will require commercial cost discipline that has been absent across the full ten-quarter window.
ROIC Still Negative Despite Asset Shrinkage
ROIC improved from -7.8% in 2024Q4 to -1.5% in 2027Q1, a meaningful directional shift, yet it remains below zero in every quarter presented, meaning AngioDynamics has yet to demonstrate it earns above its cost of capital on any invested dollar.
ROA of -2.8% against asset turnover of 0.32 shows the improvement in returns is driven almost entirely by margin recovery rather than efficiency gains. Because total assets contracted 24% to $241.9M over the period, the rising turnover ratio partly reflects denominator shrinkage rather than genuine commercial velocity, a distinction that matters when assessing whether the return trajectory is structurally durable.
Inventory Cycle Finally Starts Turning
Days inventory outstanding fell from 187 days in 2025Q1 to 150 days in 2027Q1, trimming the cash conversion cycle from 145 to 122 days, though the absolute level remains extremely elevated for a medical instruments manufacturer.
The 122-day cycle means AngioDynamics ties up roughly four months of working capital in inventory and receivables before collecting cash, a structurally heavy position relative to peers such as CONMED or Merit Medical that operate at more conventional turns. DSO has been stable in the low-50s, so the improvement is inventory-driven, implying better demand visibility or SKU rationalization rather than improved collection leverage.
Minimal Debt, But Coverage Still Negative
Debt-to-equity stood at just 0.07 in 2026Q3, the most recent reading available, yet interest coverage of -27.18x in 2027Q1 indicates operating earnings still fall short of servicing even this modest debt load, per AngioDynamics' reported financials.
The near-absence of balance-sheet leverage is the company's key credit buffer: with a current ratio of 2.40 and quick ratio of 1.48, refinancing risk is minimal. However, negative coverage persists, meaning any material debt-funded initiative or a drawn revolver would immediately be serviced from cash rather than earnings, a meaningful shift given the cash buffer has more than halved over the period.
Losses Make Traditional Multiples Unusable
With a trailing P/E of -12.76 and P/FCF of 913.71x, AngioDynamics' valuation cannot be assessed on earnings or cash-flow multiples, leaving P/S of 1.45x and P/B of 2.73x as the only interpretable anchors for investors.
A 1.45x sales multiple for a med-tech company recovering revenue at roughly 7-9% and posting a 59% gross margin does not look demanding against peers such as AtriCure or Novocure, both of which trade at multiples well above revenue on similarly negative earnings. The 2.73x book multiple, however, is elevated relative to CONMED's 1.36x, suggesting the market is pricing recovery optionality rather than a demonstrated earnings stream.
P/E Misapplied to Structural Loss-Maker
The P/E ratio is the most commonly misapplied metric to AngioDynamics, as a negative -12.76x reflects accounting losses rather than valuation, obscuring what a 1.45x P/S and a shrinking, impairment-heavy asset base actually reveal about economic worth.
Because non-cash charges—roughly $66M of D&A and SBC bridging $91.1M of net losses to a $25.4M cash deficit—drive the negative earnings, a normalised earnings multiple would look materially higher than the headline negative figure implies. Investors should instead focus on EV/Sales against peer set and on whether ROIC can cross zero sustainably, since a P/E anchored to a volatile, impairment-inflated bottom line will mislead in both directions.