Bakkt Holdings, Inc. (BKKT) Financial Ratios
7 years of historical data (2019–2025) · Technology · Software - Infrastructure
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
↓
0.56
↓-72% vs avg
5yr avg: 1.99
30Y Low0.3·High16.8
ROE
↓
-122.1%
↑-140% vs avg
5yr avg: -50.9%
30Y Low-122%·High-10%
Debt/EBITDA
N/A
—
5yr avg: N/A
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BKKT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Bakkt Holdings, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $162M | $69M | $145M | $199M | $85M | $12.2B | $6.5B | — |
| Enterprise Value | $134M | $41M | $130M | $173M | $13M | $11.8B | $6.5B | — |
| P/E Ratio → | -0.59 | — | — | — | — | — | — | — |
| P/S Ratio | 0.07 | 0.03 | 0.04 | 0.25 | 1.51 | 326.45 | 229.24 | — |
| P/B Ratio | 0.56 | 0.61 | 2.31 | 1.46 | 0.25 | 5.30 | 16.82 | — |
| P/FCF | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
BKKT EV Ratios
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.02 | 0.04 | 0.22 | 0.23 | 316.28 | 226.68 | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — |
BKKT Profitability
Margins and return-on-capital ratios measuring operating efficiency
Bakkt Holdings, Inc. earns an operating margin of -6.1%. Operating margins have expanded from -29.2% to -6.1% over the past 3 years, signaling improving operational efficiency. A negative ROE of -122.1% indicates the company is currently destroying shareholder equity.
Margins
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 1.1% | 1.1% | 2.5% | 7.9% | 97.1% | 100.0% | -105.8% | 3762.4% |
| Operating Margin | -6.1% | -6.1% | -2.7% | -29.2% | -3590.8% | -440.6% | -277.7% | 4160.6% |
| Net Profit Margin | -4.6% | -4.6% | -1.3% | -9.6% | -1028.2% | -358.5% | -279.4% | 3816.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -122.1% | -122.1% | -47.0% | -31.7% | -44.0% | -10.0% | -29.5% | -21.8% |
| ROA | -49.6% | -49.6% | -7.5% | -10.5% | -40.3% | -9.3% | -24.6% | -18.6% |
| ROIC | -160.3% | -160.3% | -88.6% | -91.4% | -139.0% | -11.0% | -30.4% | -36.0% |
| ROCE | -108.4% | -108.4% | -62.7% | -86.3% | -149.2% | -11.9% | -27.3% | -22.1% |
BKKT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $28M exceeds total debt of $0, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.37 | 0.20 | 0.08 | 0.01 | 0.01 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.24 | -0.25 | -0.19 | -0.21 | -0.17 | -0.19 | -0.51 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | -604.33 | — | — |
Net cash position: cash ($28M) exceeds total debt ($0)
BKKT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Bakkt Holdings, Inc.'s current ratio of 2.19x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 1.10x to 2.19x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.19 | 2.19 | 1.33 | 1.10 | 3.54 | 6.30 | 2.59 | 6.50 |
| Quick Ratio | 2.19 | 2.19 | 1.33 | 1.10 | 3.54 | 6.30 | 2.59 | 6.50 |
| Cash Ratio | 0.84 | 0.84 | 0.28 | 0.09 | 2.60 | 5.54 | 1.51 | 5.11 |
| Asset Turnover | — | 14.35 | 12.96 | 0.81 | 0.12 | 0.02 | 0.06 | -0.00 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 1.89 | 2.58 | 13.88 | 164.28 | 177.75 | 103.70 | — |
BKKT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Bakkt Holdings, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 1.3% | 3.1% | 0.7% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 1.3% | 3.1% | 0.7% | 0.0% | — |
| Shares Outstanding | — | $7M | $6M | $4M | $3M | $57M | $26M | $583M |
Peer Comparison
Compare BKKT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BKKTYou | $162M | -0.6 | — | — | 1.1% | -6.1% | -122.1% | -160.3% | — |
 COIN | $43B | 36.7 | 24.4 | 17.7 | 74.6% | 20.0% | 10.1% | 5.7% | 4.8 |
 MSTR | $38B | -7.4 | — | — | 68.7% | -1140.8% | -11.6% | -9.9% | — |
 HOOD | $97B | 52.8 | 49.8 | 60.0 | 83.3% | 46.8% | 22.0% | 7.9% | 7.1 |
 LPRO | $368M | -87.1 | 33.2 | — | 75.5% | 6.4% | -5.5% | 2.3% | 10.5 |
 PAYO | $2B | 36.9 | 10.5 | 11.4 | 78.1% | 11.8% | 10.2% | 30.7% | 0.4 |
 FLYW | $2B | 144.1 | 41.8 | 19.1 | 61.4% | 1.8% | 1.6% | 2.1% | — |
 CRCL | $21B | -276.7 | — | 40.5 | 8.7% | -3.3% | -3.6% | -3.4% | — |
 BTBT | $707M | -7.0 | — | — | 21.4% | -49.8% | -12.1% | -5.8% | — |
 IREN | $21B | 153.7 | 109.8 | — | 68.3% | 3.5% | 6.0% | 0.7% | 4.9 |
 ICE | $76B | 23.2 | 14.8 | 17.7 | 61.9% | 38.7% | 11.7% | 7.5% | 3.1 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 7 years · Updated daily
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BKKT — Frequently Asked Questions
Quick answers to the most common questions about buying BKKT stock.
What is Bakkt Holdings, Inc.'s P/E ratio?
Bakkt Holdings, Inc.'s current P/E ratio is -0.6x. This places it at the 50th percentile of its historical range.
What is Bakkt Holdings, Inc.'s ROE?
Bakkt Holdings, Inc.'s return on equity (ROE) is -122.1%. The historical average is -43.7%.
Is BKKT stock overvalued?
Based on historical data, Bakkt Holdings, 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.
What are Bakkt Holdings, Inc.'s profit margins?
Bakkt Holdings, Inc. has 1.1% gross margin and -6.1% operating margin.