Latest Ratios: P/E Ratio -10.9x · EV/EBITDA N/A · ROE -92.8%. (2013–2025 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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $230M | $68M | $316M | $174M | $144M | $453M | $302M | $49M | $36M | $52M | $38M |
| Enterprise Value | $213M | $51M | $292M | $165M | $128M | $430M | $264M | $34M | $17M | $35M | $12M |
| P/E Ratio → | -10.89 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 3540.00 | 1048.70 | 2338.65 | 315.51 | 377.06 | 1131.35 | 4866.45 | 91.60 | 147.64 | 477.24 | — |
| P/B Ratio | 11.88 | 3.71 | 12.59 | 9.55 | 7.09 | 15.95 | 8.08 | 3.55 | 2.05 | 3.11 | 1.48 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 783.79 | 2162.39 | 299.23 | 334.37 | 1075.94 | 4265.64 | 63.99 | 70.68 | 319.34 | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -467.7% | -467.7% | 8.9% | 94.9% | 78.8% | 100.0% | 79.0% | 52.5% | 39.8% | 64.5% | — |
| Operating Margin | -32496.9% | -32496.9% | -14323.0% | -3759.5% | -4588.0% | -3882.3% | -24064.5% | -2556.3% | -5338.6% | -12009.1% | — |
| Net Profit Margin | -31036.9% | -31036.9% | -13655.6% | -3598.2% | -4543.5% | -3928.5% | -23996.8% | -2495.3% | -5242.7% | -11880.0% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -92.8% | -92.8% | -85.3% | -102.8% | -71.3% | -47.8% | -58.2% | -84.4% | -74.5% | -61.2% | -198.2% |
| ROA | -80.3% | -80.3% | -69.4% | -78.0% | -55.3% | -41.7% | -54.5% | -76.9% | -69.4% | -58.5% | -83.2% |
| ROIC | -1295.9% | -1295.9% | -276.3% | -234.5% | -257.1% | -368.9% | — | — | — | — | — |
| ROCE | -94.6% | -94.6% | -84.5% | -93.9% | -61.4% | -43.6% | -57.7% | -86.5% | -75.9% | -61.9% | -157.1% |
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.11 | 0.11 | 0.08 | 0.20 | 0.24 | 0.23 | 0.02 | 0.01 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.94 | -0.95 | -0.49 | -0.80 | -0.78 | -1.00 | -1.07 | -1.07 | -1.03 | -1.03 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -335.23 | -335.23 | -141.91 | -101.01 | -67.40 | -121.25 | — | — | — | — | -3.78 |
Net cash position: cash ($19M) exceeds total debt ($2M)
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.80 | 9.80 | 7.58 | 5.35 | 7.43 | 10.54 | 26.29 | 10.22 | 11.97 | 18.68 | 26.01 |
| Quick Ratio | 9.80 | 9.80 | 7.58 | 5.35 | 7.43 | 10.54 | 26.29 | 10.22 | 11.97 | 18.68 | 26.01 |
| Cash Ratio | 9.61 | 9.61 | 7.49 | 5.12 | 7.28 | 10.42 | 26.20 | 10.13 | 11.75 | 18.30 | 25.91 |
| Asset Turnover | — | 0.00 | 0.00 | 0.02 | 0.01 | 0.01 | 0.00 | 0.03 | 0.01 | 0.01 | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 303.23 | 213.59 | 417.43 | — | — | — | — | 274.49 | 365.00 | — |
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 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% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $31M | $27M | $25M | $23M | $22M | $19M | $16M | $13M | $12M | $6M |
Pre-commercialization revenue stall
Based on reported financial data, Atomera trades at a price-to-sales multiple of 3540.00, a figure that reflects extreme market optimism regarding future royalty adoption rather than any current fundamental earning power, especially when compared to established semiconductor IP peers like Rambus that trade on tangible cash flows.
The current valuation appears to be entirely untethered from traditional metrics, as the company lacks positive earnings or meaningful revenue to support standard P/E or EV/EBITDA analysis. Investors should monitor whether this premium is sustainable if the company fails to transition from sporadic engineering services to high-volume licensing, as the current multiple implies a massive, yet unproven, future market share.
As reported in recent financial statements, Atomera's ROIC has consistently remained in negative territory, reaching -32.9% in 2026Q1, which indicates that the company is currently destroying invested capital rather than compounding it, a trend typical of pre-revenue firms heavily reliant on continuous equity-based funding.
The persistent negative return on capital highlights the structural challenge of maintaining a high-cost R&D lab without a corresponding stream of production royalties. This trend suggests that until the company achieves a breakthrough in commercial integration, capital efficiency will remain severely constrained by the high fixed costs of its proprietary materials science operations.
According to quarterly filings, Atomera's asset turnover remains effectively at zero, reflecting the company's inability to generate meaningful revenue from its existing asset base, while the erratic nature of its DSO and DPO metrics underscores the unpredictable timing of milestone-based payments from its limited customer engagements.
The lack of consistent asset turnover suggests that the company's intellectual property has yet to be effectively monetized through standard industry channels. Investors should view the current working capital fluctuations as a symptom of a business model that is still in the experimental phase rather than one optimized for operational efficiency.
Based on an analysis of the company's business model, the price-to-sales ratio is the most commonly misapplied metric for Atomera, as it obscures the fact that current revenue is derived from sporadic engineering services rather than the high-margin, scalable royalty streams that define successful semiconductor IP firms.
Using P/S to value Atomera ignores the fundamental difference between service-based revenue and royalty-based revenue, leading to a potential overestimation of the company's current commercial maturity. Analysts should instead focus on the progression of Joint Development Agreements and the number of active design wins as more accurate indicators of future value than headline revenue multiples.
Includes 30+ ratios · 13 years · Updated daily
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Quick answers to the most common questions about buying ATOM stock.
Atomera Incorporated's current P/E ratio is -10.9x. This places it at the 50th percentile of its historical range.
Atomera Incorporated's return on equity (ROE) is -92.8%. The historical average is -87.7%.
Based on historical data, Atomera Incorporated is trading at a P/E of -10.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Atomera Incorporated has -467.7% gross margin and -32496.9% operating margin.