Latest Ratios: P/E Ratio 35.7x · EV/EBITDA 33.9x · ROE 19.1%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.8B | $4.5B | $4.6B | $1.6B | $852M | $1.3B | $2.0B | — |
| Enterprise Value | $2.7B | $4.4B | $4.4B | $1.5B | $780M | $1.1B | $1.8B | — |
| P/E Ratio → | 35.71 | 58.16 | — | — | 7.39 | 18.23 | — | — |
| P/S Ratio | 5.80 | 9.47 | 11.50 | 5.07 | 3.15 | 5.26 | 10.11 | — |
| P/B Ratio | 5.71 | 9.30 | 13.73 | 48.13 | 11.53 | — | 30.89 | — |
| P/FCF | 17.73 | 28.93 | 37.96 | 17.49 | 74.13 | 46.37 | 32.67 | — |
| P/OCF | 16.34 | 26.67 | 34.91 | 16.14 | 41.40 | 35.94 | 29.63 | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.26 | 11.05 | 4.53 | 2.88 | 4.67 | 9.45 | — |
| EV / EBITDA | 33.95 | 56.21 | 65.68 | 34.02 | 76.15 | 55.19 | 122.02 | — |
| EV / EBIT | 40.00 | 48.29 | — | — | 6.45 | 13.94 | 161.64 | — |
| EV / FCF | — | 28.28 | 36.48 | 15.63 | 67.84 | 41.14 | 30.54 | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.2% | 84.2% | 84.4% | 83.6% | 81.3% | 82.7% | 80.6% | 79.2% |
| Operating Margin | 14.0% | 14.0% | 14.2% | 10.2% | 0.4% | 5.6% | 4.7% | -0.9% |
| Net Profit Margin | 16.5% | 16.5% | -70.5% | -24.9% | 44.6% | 29.0% | 3.0% | -1.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 19.1% | 19.1% | -152.9% | -150.1% | 46642.9% | — | 9.4% | -3.2% |
| ROA | 9.6% | 9.6% | -46.3% | -17.3% | 32.5% | 20.3% | 1.8% | -0.7% |
| ROIC | 18.5% | 18.5% | 603.1% | — | 49.7% | — | — | — |
| ROCE | 13.8% | 13.8% | 16.9% | 14.0% | 0.6% | 7.7% | 4.8% | -0.8% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 0.03 | 0.41 | 0.21 | — | — | — |
| Debt / EBITDA | 0.29 | 0.29 | 0.16 | 0.33 | 1.50 | — | — | — |
| Net Debt / Equity | — | -0.21 | -0.54 | -5.13 | -0.98 | — | -2.02 | -1.30 |
| Net Debt / EBITDA | -1.30 | -1.30 | -2.68 | -4.06 | -7.06 | -7.01 | -8.53 | -29.91 |
| Debt / FCF | — | -0.65 | -1.49 | -1.86 | -6.29 | -5.22 | -2.13 | -7.71 |
| Interest Coverage | — | — | -0.79 | — | 811.47 | 538.94 | 8.01 | 4.39 |
Net cash position: cash ($124M) exceeds total debt ($23M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.56 | 1.56 | 1.92 | 1.66 | 1.42 | 1.46 | 2.03 | 2.64 |
| Quick Ratio | 1.54 | 1.54 | 1.89 | 1.62 | 1.38 | 1.43 | 2.00 | 2.60 |
| Cash Ratio | 1.18 | 1.18 | 1.51 | 1.19 | 0.88 | 0.97 | 1.49 | 2.02 |
| Asset Turnover | — | 0.51 | 0.58 | 0.61 | 0.67 | 0.72 | 0.53 | 0.61 |
| Inventory Turnover | 9.89 | 9.89 | 7.00 | 5.36 | 4.99 | 6.54 | 7.97 | 9.05 |
| Days Sales Outstanding | — | 80.55 | 74.93 | 86.75 | 106.22 | 100.06 | 124.20 | 93.95 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | 7.7% | 0.5% | — |
| Payout Ratio | — | — | — | — | — | 140.1% | 173.0% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.8% | 1.7% | — | — | 13.5% | 5.5% | — | — |
| FCF Yield | 5.6% | 3.5% | 2.6% | 5.7% | 1.3% | 2.2% | 3.1% | — |
| Buyback Yield | 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% | 7.7% | 0.5% | — |
| Shares Outstanding | — | $250M | $209M | $190M | $195M | $162M | $187M | $187M |
Includes 30+ ratios · 7 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying CLBT stock.
Cellebrite DI Ltd.'s current P/E ratio is 35.7x. The historical average is 27.9x. This places it at the 67th percentile of its historical range.
Cellebrite DI Ltd.'s current EV/EBITDA is 33.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 57.4x.
Cellebrite DI Ltd.'s return on equity (ROE) is 19.1%. The historical average is -55.5%.
Based on historical data, Cellebrite DI Ltd. is trading at a P/E of 35.7x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Cellebrite DI Ltd. has 84.2% gross margin and 14.0% operating margin. Operating margin between 10-20% is typical for established companies.
Cellebrite DI Ltd.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Geopolitical and export control risk
Premium Valuation Reflects Growth and Margin Durability
Cellebrite's forward EV/EBITDA of 14.35 appears to price in significant margin expansion from its current 13.98% operating margin, suggesting the market expects the software transition to drive substantial profitability improvement.
The current P/E of 38.71 and EV/EBITDA of 36.91 are elevated relative to peers like NetScout (EV/EBITDA 13.53) and OneSpan (EV/EBITDA 8.42), indicating a growth premium. The forward EV/EBITDA compression to 14.35 implies analysts forecast a near-doubling of EBITDA, which would require operating margins to expand well beyond the recent 5.8% low. This valuation appears contingent on the successful scaling of the Digital Intelligence platform and the realization of operating leverage from its high fixed-cost R&D base.
Gross Margin Resilience Amidst Operating Margin Volatility
Gross margins have consistently remained above 80% across all quarters, indicating a durable software-centric model, while operating margins have swung from 18.2% to 5.8%, reflecting strategic reinvestment cycles.
The 80.8% gross margin in 2026Q2, down slightly from 85.5% in 2024Q3, still represents exceptional pricing power and low incremental costs, consistent with a high-value software platform. The volatility in operating margin, however, suggests that profitability is currently being managed for growth rather than maximized for short-term earnings. The significant gap between gross and operating margin is primarily driven by R&D spending, which consumed 27.5% of revenue in the latest quarter, a necessary investment to maintain the company's decryption capabilities against evolving mobile security.
Capital Efficiency Recovering from Historical Distortions
ROIC has rebounded from a negative 75.2% in 2024Q3 to a positive 1.4% in 2026Q2, indicating a return to generating value on invested capital after a period of significant non-operational charges.
The dramatic swing in ROIC and ROE is largely attributable to the volatile net income, which was heavily impacted by non-cash items and one-time events in 2024. The recent positive, albeit modest, ROIC of 1.4% suggests the core business is now generating returns, but the level remains below the cost of capital. The primary driver of future ROIC improvement will be the expansion of operating margins, as asset turnover has remained relatively stable between 0.13 and 0.18, indicating the business is not yet leveraging its asset base for higher returns.
Working Capital Dynamics Reflect Government Contract Cycles
The cash conversion cycle has improved significantly from 85 days in 2024Q3 to 40 days in 2026Q2, driven by a reduction in days inventory outstanding from 55 to 29 days.
The improvement in CCC is primarily due to better inventory management, with DIO falling sharply, which aligns with the shift away from hardware-centric sales. Days sales outstanding (DSO) has remained elevated in the 60-75 day range, typical for government and enterprise customers with longer procurement cycles. The reduction in days payable outstanding (DPO) from 41 to 52 days suggests the company is paying suppliers faster, which may be a strategic choice to maintain relationships or reflect a change in supplier terms.
Negligible Leverage Provides Strategic Flexibility
With a debt-to-equity ratio of just 0.04 and total debt of $23.2M against equity of $538.1M, Cellebrite operates with virtually no financial leverage, as reported in its latest balance sheet.
The company's conservative capital structure, with a D/E ratio consistently below 0.05, provides a significant buffer against interest rate fluctuations and economic uncertainty. The absence of interest coverage data in recent quarters is a function of the minimal debt load, not financial distress. This fortress balance sheet positions the company to fund strategic acquisitions, such as the $147.5M outflow in 2025Q4, without resorting to dilutive equity financing or taking on material debt.
The Misleading Signal of Net Margin Volatility
The net margin, which swung from -193.8% to 16.5%, is the most commonly misapplied ratio for Cellebrite, as it obscures the stable, high-margin core business due to significant non-operational items.
Investors focusing on the volatile net margin may misinterpret the company's fundamental earning power. The -193.8% net margin in 2024Q3 was driven by massive non-cash charges, not operational failure, while the 16.5% margin in 2025Q4 benefited from favorable below-the-line items. A more reliable metric for assessing core profitability is the gross margin, which has remained consistently above 80%, or the operating margin, which, despite recent volatility, better reflects the underlying economics of the software platform before non-recurring distortions.