Latest Ratios: P/E Ratio -34.0x · EV/EBITDA 26.3x · ROE -79.9%. (2023–2025 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 |
|---|---|---|---|---|
| Market Cap | $52.1B | $31.2B | — | — |
| Enterprise Value | $63.3B | $42.4B | — | — |
| P/E Ratio → | -33.99 | — | — | — |
| P/S Ratio | 10.16 | 6.08 | — | — |
| P/B Ratio | 12.49 | 9.36 | — | — |
| P/FCF | — | — | — | — |
| P/OCF | 17.04 | 10.21 | — | — |
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 |
|---|---|---|---|---|
| EV / Revenue | — | 8.27 | — | — |
| EV / EBITDA | 26.30 | 17.62 | — | — |
| EV / EBIT | — | 3030.93 | — | — |
| 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 |
|---|---|---|---|---|
| Gross Margin | 71.7% | 71.7% | 74.2% | 70.0% |
| Operating Margin | -0.9% | -0.9% | 16.9% | -6.3% |
| Net Profit Margin | -22.7% | -22.7% | -45.1% | -259.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| ROE | -79.9% | -79.9% | — | — |
| ROA | -3.5% | -3.5% | -7.6% | -11.9% |
| ROIC | -0.3% | -0.3% | 4.9% | -0.9% |
| ROCE | -0.2% | -0.2% | 3.9% | -0.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Debt / Equity | 4.54 | 4.54 | — | — |
| Debt / EBITDA | 6.29 | 6.29 | 8.94 | 22.53 |
| Net Debt / Equity | — | 3.36 | — | — |
| Net Debt / EBITDA | 4.66 | 4.66 | 7.80 | 20.08 |
| Debt / FCF | — | — | — | — |
| Interest Coverage | 0.01 | 0.01 | -1.06 | -18.65 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Current Ratio | 0.46 | 0.46 | 0.39 | 0.50 |
| Quick Ratio | 0.46 | 0.46 | 0.39 | 0.50 |
| Cash Ratio | 0.24 | 0.24 | 0.27 | 0.22 |
| Asset Turnover | — | 0.10 | 0.11 | 0.05 |
| Inventory Turnover | — | — | — | — |
| Days Sales Outstanding | — | 225.43 | 81.12 | 291.80 |
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 |
|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.1% | — | — |
| Payout Ratio | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|
| Earnings Yield | — | — | — | — |
| FCF Yield | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.1% | 0.1% | — | — |
| Shares Outstanding | — | $436M | $404M | $404M |
High Debt Financing Dependency
Based on a P/S ratio of 10.27, the market appears to be pricing CoreWeave at a significant premium relative to traditional infrastructure providers, reflecting high growth expectations that may be sensitive to future GPU supply-demand dynamics as reported in recent financial disclosures.
The current valuation suggests investors are prioritizing top-line expansion over near-term profitability, effectively valuing the company as a high-growth AI infrastructure play rather than a standard utility-like cloud provider. However, the negative P/E of -34.37 highlights the disconnect between current market enthusiasm and the company's underlying earnings power, which remains constrained by heavy depreciation and interest costs.
As reported in recent financial statements, CoreWeave's ROIC has struggled to remain positive, fluctuating between -0.6% and 3.0% over the last ten quarters, which suggests that the company's massive capital deployment into GPU clusters has yet to generate sustainable, value-accretive returns on invested capital.
The inability to consistently generate positive ROIC indicates that the rapid scaling of the hardware fleet is currently outpacing the company's ability to optimize utilization for profitability. Investors should monitor whether future cycles of hardware deployment can achieve higher efficiency, as the current trend suggests a potential decay in capital productivity as the asset base expands.
According to quarterly data, the company's asset turnover ratio remains extremely low at 0.04, which indicates that the massive investment in infrastructure is not yet translating into proportional revenue generation, a common challenge for capital-intensive firms in the early stages of rapid expansion.
The low asset turnover reflects the significant time lag between capital expenditure and full-scale revenue realization from new GPU clusters. Furthermore, the high DSO figures suggest that the company may be offering extended payment terms to secure large-scale enterprise contracts, which may further pressure cash conversion cycles.
As evidenced by the 0.31 current ratio in 2026Q1, CoreWeave's liquidity position appears highly constrained, suggesting that the company relies heavily on continuous external financing to meet its short-term obligations while simultaneously funding its massive, ongoing capital expenditure requirements for new hardware.
This liquidity profile warrants close investigation, as the company lacks a significant buffer to absorb potential operational shocks or delays in revenue recognition. The reliance on external capital to maintain such a low current ratio implies that any tightening in credit markets could pose a material risk to the company's ability to continue its current growth trajectory.
The most commonly misapplied metric for CoreWeave is the standard P/E ratio, which obscures the company's true economic reality by failing to account for the massive non-cash depreciation charges and interest expenses inherent in its debt-financed, asset-heavy business model.
Analysts should instead focus on EV/EBITDA or cash-flow-based metrics to better understand the underlying operational performance, as the P/E ratio is heavily distorted by the company's aggressive capital structure. Relying on earnings-based multiples in this context may lead to an inaccurate assessment of the company's ability to generate long-term shareholder value.
Includes 30+ ratios · 3 years · Updated daily
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Quick answers to the most common questions about buying CRWV stock.
CoreWeave, Inc. Class A Common Stock's current P/E ratio is -34.0x. This places it at the 50th percentile of its historical range.
CoreWeave, Inc. Class A Common Stock's current EV/EBITDA is 26.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.6x.
CoreWeave, Inc. Class A Common Stock's return on equity (ROE) is -79.9%. The historical average is -79.9%.
Based on historical data, CoreWeave, Inc. Class A Common Stock is trading at a P/E of -34.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
CoreWeave, Inc. Class A Common Stock's current dividend yield is 0.07%.
CoreWeave, Inc. Class A Common Stock has 71.7% gross margin and -0.9% operating margin.
CoreWeave, Inc. Class A Common Stock's Debt/EBITDA ratio is 6.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.