Latest Ratios: P/E Ratio -0.6x · EV/EBITDA N/A · ROE -83.9%. (2017–2025 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 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14M | $6M | $17M | $27M | $51M | $1.0B | $3.9B | $1.1B | — | — |
| Enterprise Value | $14M | $5M | $6M | $19M | $30M | $1.0B | $4.0B | $1.2B | — | — |
| P/E Ratio → | -0.56 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.21 | 0.08 | 0.17 | 0.19 | 0.23 | 4.15 | 21.12 | 10.01 | — | — |
| P/B Ratio | 0.70 | 0.36 | 0.57 | 0.76 | 0.50 | 4.58 | 167.72 | 106.77 | — | — |
| P/FCF | — | — | 7.99 | — | — | — | 653.38 | — | — | — |
| P/OCF | — | — | 7.84 | — | — | — | 643.84 | — | — | — |
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 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.08 | 0.06 | 0.14 | 0.14 | 4.19 | 21.44 | 10.05 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | 3.01 | — | — | — | 663.34 | — | — | — |
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 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.8% | 56.8% | 62.1% | 49.3% | 47.7% | 49.2% | 45.6% | 39.4% | 35.5% | 37.5% |
| Operating Margin | -17.8% | -17.8% | -11.9% | -53.4% | -80.6% | -13.8% | -18.7% | -47.5% | -40.2% | -62.0% |
| Net Profit Margin | -27.5% | -27.5% | -12.0% | -52.3% | -88.8% | -95.3% | -34.0% | -51.4% | -43.4% | -63.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -83.9% | -83.9% | -35.9% | -108.1% | -120.4% | -190.6% | -370.1% | -730.5% | -470.7% | -282.9% |
| ROA | -48.0% | -48.0% | -21.3% | -68.3% | -83.5% | -100.2% | -54.4% | -88.8% | -71.4% | -74.0% |
| ROIC | -53.4% | -53.4% | -37.3% | -104.6% | -84.7% | -16.1% | -52.8% | -287.6% | -170.1% | -129.3% |
| ROCE | -53.6% | -53.6% | -35.5% | -109.0% | -106.9% | -21.8% | -66.9% | -274.1% | -187.3% | -174.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.30 | 0.30 | 0.25 | 0.34 | 0.22 | 0.18 | 3.70 | 3.27 | 5.12 | 1.26 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.02 | -0.35 | -0.22 | -0.20 | 0.05 | 2.56 | 0.44 | 1.39 | 0.61 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | -4.99 | — | — | — | 9.96 | — | — | — |
| Interest Coverage | -12.80 | -12.80 | -8.78 | -34.50 | -71.95 | -16.77 | -11.52 | -11.97 | -12.50 | -54.76 |
Net cash position: cash ($5M) exceeds total debt ($5M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.70 | 1.70 | 2.01 | 1.95 | 1.89 | 1.49 | 1.01 | 1.37 | 1.45 | 1.66 |
| Quick Ratio | 0.73 | 0.73 | 1.29 | 1.15 | 1.06 | 0.74 | 0.58 | 0.69 | 0.68 | 0.53 |
| Cash Ratio | 0.34 | 0.34 | 0.93 | 0.79 | 0.82 | 0.36 | 0.36 | 0.57 | 0.51 | 0.29 |
| Asset Turnover | — | 2.33 | 2.00 | 2.30 | 1.41 | 0.79 | 1.18 | 1.54 | 1.26 | 1.17 |
| Inventory Turnover | 2.16 | 2.16 | 2.73 | 3.54 | 2.65 | 2.00 | 3.20 | 1.92 | 1.55 | 1.11 |
| Days Sales Outstanding | — | 13.02 | 13.94 | 10.82 | 7.45 | 15.44 | 11.30 | 3.38 | 6.99 | 13.35 |
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 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | 12.5% | — | — | — | 0.2% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $8M | $7M | $7M | $6M | $21M | $19M | $16M | $18M | $18M |
Critical liquidity and insolvency
According to current market data, Aterian trades at a price-to-sales multiple of 0.20, a valuation level that suggests investors are pricing in significant terminal risk rather than growth potential, as the company struggles to justify its historical tech-centric premium in the face of persistent revenue contraction.
The current P/S multiple of 0.20 indicates that the market has largely abandoned the growth narrative, treating the company as a distressed asset rather than a scalable e-commerce platform. This valuation appears to reflect a lack of confidence in the company's ability to return to profitability, as the absence of a meaningful forward P/E or EV/EBITDA multiple underscores the market's focus on survival over earnings growth.
Based on reported financial statements, Aterian's ROIC has remained consistently negative over the last ten quarters, bottoming out at -17.4% in 2026Q1, which highlights a structural inability to generate returns on invested capital that exceed the company's cost of funding or operational requirements.
The persistent negative ROIC suggests that the capital deployed into the business is being destroyed rather than compounded, a trend that has worsened as the company's asset base has shrunk. This decay in returns appears to be driven by the inability to achieve operating margins that can cover the cost of the platform's infrastructure, rendering the current capital allocation strategy ineffective.
As evidenced by the company's recent filings, the cash conversion cycle has become increasingly erratic, reaching an extreme of 39,951 days in 2026Q1, which indicates a severe breakdown in the company's ability to efficiently manage inventory and payables amidst a sharp decline in top-line volume.
The extreme volatility in the cash conversion cycle suggests that the company is struggling to align its inventory procurement with actual consumer demand, leading to potential obsolescence risks. Investors should monitor whether this inefficiency is a temporary byproduct of aggressive portfolio pruning or a structural failure in the supply chain management process.
Based on the most recent quarterly data, the company's current ratio of 1.70 masks a precarious cash position, as the rapid depletion of liquid assets leaves the firm with minimal runway to navigate further operational losses or unexpected shocks to its Amazon-dependent revenue stream.
While the current ratio appears superficially adequate, the underlying cash burn rate suggests that the company's liquidity position is highly vulnerable to even minor disruptions in sales. The reliance on inventory to satisfy current liabilities may prove problematic if the company is forced to liquidate stock at deep discounts to generate necessary operating cash.
While the company's debt-to-equity ratio of 0.30 is often cited as a sign of financial health, this metric is fundamentally misleading for Aterian, as it obscures the reality that the firm's primary risk is not debt service, but rather a total lack of operational cash flow generation.
Investors frequently misapply the debt-to-equity ratio to assess solvency, ignoring that the company's true risk lies in its inability to cover operating expenses with internal cash. A more appropriate metric for this business model would be the 'cash burn rate' relative to total liquidity, which reveals a much more urgent threat to the company's ongoing viability than the balance sheet leverage suggests.
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying ATER stock.
Aterian, Inc.'s current P/E ratio is -0.6x. This places it at the 50th percentile of its historical range.
Aterian, Inc.'s return on equity (ROE) is -83.9%. The historical average is -207.8%.
Based on historical data, Aterian, Inc. is trading at a P/E of -0.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Aterian, Inc. has 56.8% gross margin and -17.8% operating margin.