Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE 8.1%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $29M | $41M | $57M | $4.4B | $261M | $13.5B | — |
| Enterprise Value | $20M | $33M | $57M | $4.4B | $253M | $13.5B | — |
| P/E Ratio → | -0.15 | — | — | 5585.59 | 23.67 | — | — |
| P/S Ratio | 1.97 | 2.80 | 5.29 | 1109.08 | 28.76 | 1012.75 | — |
| P/B Ratio | 1.46 | 1.89 | — | 102.96 | 26.31 | 1369.21 | — |
| P/FCF | — | — | 36.57 | — | — | — | — |
| P/OCF | — | — | 36.57 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.23 | 5.28 | 1109.04 | 27.84 | 1012.02 | — |
| EV / EBITDA | — | — | — | — | — | 12744.10 | — |
| EV / EBIT | — | 3.36 | — | — | 976.27 | 7163.81 | — |
| EV / FCF | — | — | 36.48 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 77.6% | 77.6% | 80.6% | 67.5% | 73.8% | 88.5% | — |
| Operating Margin | -34.2% | -34.2% | -45.3% | -387.9% | -13.5% | 7.7% | — |
| Net Profit Margin | 12.1% | 12.1% | 53.0% | -3001.1% | 1.4% | 11.1% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | 8.1% | 8.1% | — | -452.8% | 1.3% | 30.0% | -110.7% |
| ROA | 0.0% | 0.0% | 0.0% | -250.0% | 0.3% | 4.6% | -10.8% |
| ROIC | -28.2% | -28.2% | — | -52.2% | -102.9% | 571.3% | — |
| ROCE | -0.1% | -0.1% | -0.0% | -57.2% | -11.3% | 18.8% | -110.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.68 | 0.68 | — | 0.01 | 0.08 | 0.10 | 6.64 |
| Debt / EBITDA | — | — | — | — | — | 0.89 | — |
| Net Debt / Equity | — | -0.39 | — | -0.00 | -0.83 | -0.99 | 5.53 |
| Net Debt / EBITDA | — | — | — | — | — | -9.18 | — |
| Debt / FCF | — | — | -0.09 | — | — | — | — |
| Interest Coverage | 1.38 | 1.38 | — | — | 3.12 | 26.92 | — |
Net cash position: cash ($23M) exceeds total debt ($15M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.56 | 1.56 | 0.85 | 0.06 | 1.26 | 1.16 | 0.24 |
| Quick Ratio | 1.56 | 1.56 | 0.85 | 0.06 | 1.26 | 1.16 | 0.24 |
| Cash Ratio | 0.70 | 0.70 | 0.00 | 0.05 | 0.31 | 0.20 | 0.12 |
| Asset Turnover | — | 0.19 | 0.00 | 0.07 | 0.22 | 0.21 | — |
| Inventory Turnover | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 128.48 | 58.43 | 5.37 | 41.30 | 56.65 | — |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | 0.0% | — | — |
| Payout Ratio | — | — | — | — | 31.2% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 0.0% | 4.2% | — | — |
| FCF Yield | — | — | 2.7% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 3.4% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 3.4% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $163M | $6M | $12M | $419271 | $23M | $25M |
Regulatory capital and scale
According to recent market data, ATCH trades at a price-to-sales ratio of 1.97, which appears to reflect a growth-stage premium that assumes successful migration of clearing volumes, despite the company's persistent negative operating margins and lack of a meaningful forward price-to-earnings multiple for valuation benchmarking.
The current P/S multiple suggests investors are pricing the firm as a high-growth fintech entity rather than a capital-intensive clearing house. This valuation warrants caution, as it likely ignores the structural necessity of maintaining significant regulatory capital, which limits the scalability typically associated with pure software-as-a-service multiples.
Based on historical financial statements, ATCH's ROIC has remained consistently negative, reaching -12.8% in 2026Q1, which indicates that the company is currently destroying shareholder value as it attempts to build out its proprietary clearing and settlement infrastructure without achieving the necessary scale to generate returns.
The persistent negative ROIC suggests that the capital deployed into the business is not yet yielding productive returns, likely due to the heavy fixed-cost burden of regulatory compliance and technology development. Investors should monitor whether the company can pivot toward positive capital efficiency as it matures its correspondent clearing client base.
As reported in quarterly filings, the company's asset turnover remains extremely low at 0.06, reflecting the significant capital-intensive nature of the clearing industry where the firm must hold substantial assets to satisfy regulatory requirements rather than focusing solely on rapid inventory or receivable turnover cycles.
The low asset turnover ratio highlights the structural reality that ATCH is not a lean software firm, but a regulated financial intermediary. The volatility in DSO and the lack of clear CCC trends suggest that management is still struggling to optimize the cash conversion cycle within its clearing operations.
According to recent balance sheet disclosures, the current ratio has fluctuated significantly, settling at 1.52 in 2026Q1, which indicates that the company's liquidity position remains highly sensitive to operational cash outflows and the timing of capital requirements inherent in the clearing and settlement business model.
While a current ratio above 1.0 might appear adequate in isolation, the underlying volatility suggests that the firm lacks a robust liquidity cushion to withstand severe market stress. The reliance on cash to meet regulatory mandates means that any unexpected spike in clearing volume or compliance costs could rapidly deplete available resources.
As evidenced by market commentary, the most commonly misapplied ratio for ATCH is the price-to-sales multiple, which obscures the reality that the firm's growth is fundamentally constrained by regulatory capital requirements rather than the infinite scalability typically associated with pure-play software-as-a-service business models.
Investors should instead focus on regulatory capital ratios and net interest margin trends, as these metrics provide a more accurate picture of the firm's operational capacity and profitability. Relying on SaaS multiples risks overestimating the company's ability to scale without proportional increases in its balance sheet strength.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying ATCH stock.
AtlasClear Holdings, Inc.'s current P/E ratio is -0.2x. The historical average is 23.7x.
AtlasClear Holdings, Inc.'s return on equity (ROE) is 8.1%. The historical average is -104.8%.
Based on historical data, AtlasClear Holdings, Inc. is trading at a P/E of -0.2x. Compare with industry peers and growth rates for a complete picture.
AtlasClear Holdings, Inc. has 77.6% gross margin and -34.2% operating margin.