Latest Ratios: P/E Ratio -10.0x · EV/EBITDA N/A · ROE 16.1%. (2005–2025 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 | $87M | $441M | $447M | $128M | $194M | $289M | $179M | $14M | $15M | $8M | $11M |
| Enterprise Value | $77M | $431M | $433M | $110M | $176M | $233M | $177M | $18M | $15M | $7M | $12M |
| P/E Ratio → | -9.96 | 45.63 | 35.15 | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.91 | 3.73 | 5.22 | 3.01 | 4.03 | 6.85 | 10.79 | 15.68 | 60.39 | 27.62 | 71.04 |
| P/B Ratio | 1.41 | 6.70 | 8.23 | 3.03 | 4.21 | 4.37 | 21.26 | — | 96.23 | 24.73 | — |
| P/FCF | 13.97 | — | 47.62 | 42.90 | — | — | 160.76 | — | — | — | — |
| P/OCF | — | — | 38.10 | 32.95 | — | — | 70.44 | — | — | — | — |
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 | — | 3.65 | 5.05 | 2.57 | 3.67 | 5.54 | 10.68 | 19.52 | 60.24 | 24.09 | 77.28 |
| EV / EBITDA | — | 30.89 | 53.06 | — | — | — | — | — | — | — | — |
| EV / EBIT | 6.52 | 36.65 | 61.14 | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | 46.11 | 36.68 | — | — | 159.06 | — | — | — | — |
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 | 60.5% | 60.5% | 61.5% | 55.5% | 54.7% | 54.3% | 45.3% | 16.1% | 25.6% | 34.6% | 38.3% |
| Operating Margin | 10.0% | 10.0% | 7.8% | -18.3% | -16.1% | -7.8% | -26.0% | -355.7% | -814.7% | -656.0% | -1098.6% |
| Net Profit Margin | 8.2% | 8.2% | 14.9% | -19.2% | -16.4% | -7.8% | -75.8% | -477.0% | -860.6% | -957.3% | -1249.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 16.1% | 16.1% | 26.5% | -18.6% | -14.1% | -8.8% | -390.8% | — | -890.5% | -857.3% | — |
| ROA | 12.4% | 12.4% | 20.6% | -15.0% | -11.9% | -6.8% | -101.3% | -141.7% | -88.8% | -215.6% | -149.6% |
| ROIC | 18.5% | 18.5% | 15.7% | -22.4% | -29.5% | -28.4% | -80.0% | -292.3% | -1273.3% | — | -2324.5% |
| ROCE | 19.1% | 19.1% | 13.3% | -17.0% | -13.4% | -8.6% | -92.6% | -3057.8% | -264.3% | -1470.6% | -326.9% |
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 | 0.06 | 0.06 | 0.05 | 0.04 | 0.06 | 0.02 | 0.15 | — | 7.29 | 2.86 | — |
| Debt / EBITDA | 0.28 | 0.28 | 0.32 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.15 | -0.26 | -0.44 | -0.38 | -0.84 | -0.23 | — | -0.24 | -3.16 | — |
| Net Debt / EBITDA | -0.70 | -0.70 | -1.74 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | -1.51 | -6.22 | — | — | -1.71 | — | — | — | — |
| Interest Coverage | — | — | — | — | — | -100.26 | -11.41 | -1.87 | -6.10 | -3.37 | -7.29 |
Net cash position: cash ($14M) exceeds total debt ($4M)
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 | 3.73 | 3.73 | 3.30 | 4.42 | 4.78 | 8.09 | 1.41 | 0.78 | 0.96 | 2.22 | 0.21 |
| Quick Ratio | 1.81 | 1.81 | 2.01 | 2.81 | 3.05 | 7.28 | 1.00 | 0.52 | 0.90 | 2.06 | 0.20 |
| Cash Ratio | 0.91 | 0.91 | 1.67 | 2.37 | 2.25 | 6.88 | 0.27 | 0.29 | 0.51 | 2.02 | 0.14 |
| Asset Turnover | — | 1.40 | 1.19 | 0.82 | 0.84 | 0.56 | 0.78 | 0.26 | 0.09 | 0.13 | 0.38 |
| Inventory Turnover | 1.43 | 1.43 | 1.65 | 1.37 | 1.41 | 2.91 | 1.88 | 0.81 | 1.44 | 1.22 | 12.98 |
| Days Sales Outstanding | — | 33.50 | 11.19 | 25.21 | 44.94 | 14.35 | 18.38 | 173.04 | 27.59 | 45.44 | 195.68 |
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 | — | 2.2% | 2.8% | — | — | — | — | — | — | — | — |
| FCF Yield | 7.2% | — | 2.1% | 2.3% | — | — | 0.6% | — | — | — | — |
| Buyback Yield | 1.3% | 0.3% | 1.1% | 0.4% | 9.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.3% | 0.3% | 1.1% | 0.4% | 9.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $24M | $23M | $22M | $22M | $20M | $13M | $10M | $9M | $6M | $5M |
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying BYRN stock.
Byrna Technologies Inc.'s current P/E ratio is -10.0x. The historical average is 40.4x.
Byrna Technologies Inc.'s return on equity (ROE) is 16.1%. The historical average is -166.1%.
Based on historical data, Byrna Technologies Inc. is trading at a P/E of -10.0x. Compare with industry peers and growth rates for a complete picture.
Byrna Technologies Inc. has 60.5% gross margin and 10.0% operating margin. Operating margin between 10-20% is typical for established companies.
Byrna Technologies Inc.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
D2C channel marketing dependency
Metrics are mathematically derived from official filings.
Market Pricing Reflects Growth Expectations
According to current market data, Byrna trades at a P/S ratio of 1.10, which appears to discount the company as a high-growth disruptor rather than a mature industrial manufacturer, implying that investors are pricing in significant future expansion despite the recent deceleration in top-line revenue growth rates.
The forward P/E of 143.25 suggests that the market is heavily discounting near-term earnings in favor of long-term scaling potential. This valuation premium warrants caution, as it requires sustained double-digit growth to justify current levels compared to the more modest multiples seen in traditional firearm peers.
Capital Efficiency Remains Highly Variable
Based on reported financial statements, Byrna's ROIC has fluctuated between a low of -2.4% and a peak of 9.1% over the last ten quarters, indicating that the company has yet to establish a consistent track record of compounding returns on its invested capital during its current expansion phase.
The volatility in ROIC suggests that management's capital allocation is heavily influenced by lumpy marketing expenditures and inventory builds rather than operational efficiency. Investors should monitor whether the company can stabilize these returns as it moves beyond the initial customer acquisition phase.
Working Capital Cycles Impair Liquidity
As indicated by the company's financial disclosures, the cash conversion cycle has remained elevated, reaching 195 days in 2026Q1, which highlights a significant reliance on inventory management and suggests that the company's working capital efficiency is currently strained by its direct-to-consumer hardware-heavy business model.
The high DIO (Days Inventory Outstanding) of 254 days in the most recent quarter suggests potential risks regarding product obsolescence or over-accumulation of stock. This inefficiency necessitates a closer look at whether the company can optimize its supply chain to improve cash flow generation.
Conservative Structure Provides Financial Cushion
According to recent SEC filings, Byrna maintains a robust balance sheet with a debt-to-equity ratio of 0.03 as of 2026Q1, providing the company with significant financial flexibility to navigate potential economic downturns without the immediate pressure of servicing high interest-bearing debt obligations common in the industrial sector.
This low leverage profile is a structural advantage that insulates the company from rising interest rates. However, the lack of debt also implies that the company is funding its growth primarily through equity, which may continue to dilute shareholder value if profitability does not improve.
Misapplication of Traditional P/E Multiples
Based on the company's unique business model, the P/E ratio is the most commonly misapplied metric, as it obscures the significant impact of non-cash stock-based compensation and aggressive marketing spend that artificially depress current earnings while failing to capture the long-term value of the recurring ammunition revenue stream.
Analysts should instead focus on the 'Ammunition Attach Rate' and adjusted EBITDA to better understand the underlying earning power of the platform. Relying on P/E in this context risks misinterpreting a high-growth, customer-acquisition-focused phase as a lack of fundamental profitability.