Latest Ratios: P/E Ratio -0.3x · EV/EBITDA N/A · ROE -82.7%. (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 | $51M | $87M | $464M | $590M | $728M | $887M | $1.0B | — |
| Enterprise Value | $29M | $65M | $432M | $578M | $591M | $728M | $999M | — |
| P/E Ratio → | -0.28 | — | 23.56 | 86.13 | 20.79 | 37.40 | — | — |
| P/S Ratio | 0.16 | 0.27 | 0.75 | 0.95 | 1.65 | 2.78 | 10.81 | — |
| P/B Ratio | 0.41 | 0.69 | 1.47 | 1.93 | 2.61 | 3.91 | 15.19 | — |
| P/FCF | 1.89 | 3.22 | 7.19 | — | 31.15 | — | — | — |
| P/OCF | 1.48 | 2.52 | 6.60 | — | 25.22 | — | — | — |
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 | — | 0.20 | 0.70 | 0.93 | 1.34 | 2.28 | 10.61 | — |
| EV / EBITDA | — | — | 9.69 | 18.34 | 18.23 | 31.83 | — | — |
| EV / EBIT | — | — | 14.55 | 38.37 | 27.05 | 35.41 | — | — |
| EV / FCF | — | 2.41 | 6.70 | — | 25.27 | — | — | — |
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 | 30.7% | 30.7% | 34.6% | 31.3% | 35.1% | 34.4% | 33.3% | 27.3% |
| Operating Margin | -27.7% | -27.7% | 4.7% | 2.4% | 5.0% | 4.8% | -15.7% | -43.0% |
| Net Profit Margin | -56.6% | -56.6% | 3.2% | 1.1% | 7.9% | 7.4% | -15.3% | -41.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -82.7% | -82.7% | 6.4% | 2.3% | 13.7% | 16.2% | -19.6% | -25.5% |
| ROA | -54.2% | -54.2% | 4.2% | 1.6% | 9.8% | 11.6% | -14.3% | -20.0% |
| ROIC | -34.5% | -34.5% | 7.5% | 5.2% | 15.6% | 19.8% | -23.2% | -33.0% |
| ROCE | -36.9% | -36.9% | 8.8% | 4.9% | 8.0% | 9.4% | -17.6% | -22.8% |
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 | 0.23 | 0.23 | 0.18 | 0.15 | 0.07 | 0.07 | 0.21 | 0.20 |
| Debt / EBITDA | — | — | 1.28 | 1.48 | 0.61 | 0.72 | — | — |
| Net Debt / Equity | — | -0.17 | -0.10 | -0.04 | -0.49 | -0.70 | -0.28 | -0.41 |
| Net Debt / EBITDA | — | — | -0.72 | -0.41 | -4.24 | -6.95 | — | — |
| Debt / FCF | — | -0.81 | -0.50 | — | -5.88 | — | — | — |
| Interest Coverage | -87.92 | -87.92 | 13.70 | — | — | 26.94 | -72.12 | — |
Net cash position: cash ($51M) exceeds total debt ($29M)
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 | 2.26 | 2.26 | 2.50 | 1.99 | 2.71 | 4.42 | 2.49 | 6.08 |
| Quick Ratio | 2.26 | 2.26 | 2.50 | 1.99 | 2.66 | 4.42 | 2.49 | 6.08 |
| Cash Ratio | 0.76 | 0.76 | 0.73 | 0.35 | 1.57 | 3.03 | 1.38 | 4.91 |
| Asset Turnover | — | 1.48 | 1.35 | 1.27 | 1.12 | 1.03 | 0.94 | 0.48 |
| Inventory Turnover | — | — | — | — | 63.79 | — | — | — |
| Days Sales Outstanding | — | 105.23 | 124.85 | 153.23 | 85.34 | 89.77 | 96.42 | 76.80 |
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 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 100.0% | — | — | — | — | — |
| Payout Ratio | — | — | 6474653.6% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 4.2% | 1.2% | 4.8% | 2.7% | — | — |
| FCF Yield | 53.0% | 31.1% | 13.9% | — | 3.2% | — | — | — |
| Buyback Yield | 21.2% | 12.4% | 3.0% | 0.0% | 0.5% | 0.1% | 0.0% | — |
| Total Shareholder Yield | 21.2% | 12.4% | 100.0% | 0.0% | 0.5% | 0.1% | 0.0% | — |
| Shares Outstanding | — | $99M | $109M | $106M | $103M | $95M | $100M | $100M |
Municipal contract concentration risk
Based on reported figures, DocGo's P/S ratio of 0.15 suggests the market is pricing the company as a distressed asset rather than a growth-oriented healthcare provider, reflecting deep skepticism regarding the sustainability of its current revenue base following the expiration of pandemic-era municipal contracts.
The extremely low P/S multiple relative to broader healthcare services peers indicates that investors are heavily discounting the company's future earnings potential. This valuation appears to reflect a market consensus that the current revenue contraction is structural rather than cyclical, necessitating a significant re-rating of the business model.
According to recent financial statements, DocGo's ROIC has plummeted to -13.5% in 2026Q1, signaling a rapid decay in the company's ability to generate returns on invested capital as operational losses continue to erode the asset base and shareholder equity.
The consistent negative trend in ROIC over the last ten quarters suggests that the company's capital allocation strategy has failed to create value. Investors should monitor whether management can pivot toward higher-margin service lines, as the current trajectory indicates that capital is being consumed rather than compounded.
As reported in financial statements, DocGo's DSO has remained elevated at 111 days in 2026Q1, highlighting significant friction in cash collection cycles that likely stems from the company's heavy reliance on government-linked contracts and complex municipal billing environments.
The inability to meaningfully reduce DSO suggests that the company lacks leverage over its primary government customers, leading to persistent liquidity pressure. This inefficiency in working capital management forces the company to rely on external financing or cash reserves to bridge the gap between service delivery and payment.
Based on DocGo's reported figures, the current ratio has tightened from 2.59 in 2025Q3 to 1.79 in 2026Q1, indicating that the company's ability to cover short-term obligations is diminishing as cash reserves are depleted to fund ongoing operational losses and working capital requirements.
While a current ratio of 1.79 remains technically above parity, the rapid downward trend warrants caution regarding the company's long-term solvency. The reliance on cash to fund operations during a period of revenue contraction suggests that the liquidity position may become increasingly vulnerable if contract renewals do not materialize.
Investors frequently misapply software-as-a-service valuation multiples to DocGo, which obscures the reality that the company operates a labor-intensive, logistics-heavy model with structurally lower margins that cannot support the premium pricing typically afforded to high-growth, scalable technology platforms.
By ignoring the high variable costs associated with clinical labor and fleet maintenance, analysts may overestimate the company's potential for margin expansion. A more appropriate framework would involve benchmarking against industrial services or traditional medical transportation providers, which would likely lead to a more conservative assessment of the company's long-term earning power.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying DCGO stock.
DocGo Inc.'s current P/E ratio is -0.3x. The historical average is 42.0x.
DocGo Inc.'s return on equity (ROE) is -82.7%. The historical average is -12.7%.
Based on historical data, DocGo Inc. is trading at a P/E of -0.3x. Compare with industry peers and growth rates for a complete picture.
DocGo Inc. has 30.7% gross margin and -27.7% operating margin.