Last 15 quarters of trend data · Technology · Software - Infrastructure
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
DeFi Development Corp.'s quarterly P/E stands at 2.1x.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -12.47 | 2.09 | 6.38 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 45.94 | 26.02 | 52.17 | 6.20 | 2.73 | 2.90 | 4.80 | 8.06 | 5.21 | 4.75 | — | — | — |
| — | +797.9% | +985.9% | -23.1% | -47.6% | -39.0% | — | — | — | — | — | — | — | |
| P/B Ratio | 9.70 | 1.97 | 5.21 | 2.50 | 1.96 | 1.81 | 1.99 | 2.67 | 1.25 | 1.85 | — | — | — |
| — | +8.9% | +161.7% | -6.4% | +56.3% | -1.9% | — | — | — | — | — | — | — | |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | 1.63 | 6.20 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | 1.54 | 6.23 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
DeFi Development Corp.'s operating margin was 1558.6% in Q3 2025, up 693.1 pp QoQ and up 1632.0 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 502.2% lags the current quarter, suggesting the recent improvement is above-trend.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.5% | 98.1% | 98.6% | 97.6% | 98.8% | 98.8% | 86.9% | 97.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| — | -0.7% | +13.4% | -0.3% | -1.2% | -1.2% | -13.1% | -2.1% | 0.0% | 0.0% | 0.0% | 0.0% | — | |
| Operating Margin | -143.0% | 1558.6% | 865.6% | -307.5% | -108.0% | -73.4% | -193.2% | -247.7% | -355.8% | -280.7% | -40.9% | -58.6% | -39.4% |
| — | +2223.5% | +548.1% | -24.2% | +69.6% | +73.9% | -371.8% | -322.3% | -802.9% | -144.9% | +21.0% | +43.2% | — | |
| Net Margin | -129.9% | 1211.4% | 777.0% | -270.8% | -77.3% | -76.2% | -182.6% | -234.5% | -336.2% | -270.4% | -66.1% | -47.1% | 58.7% |
| — | +1690.3% | +525.4% | -15.5% | +77.0% | +71.8% | -176.3% | -397.6% | -672.2% | -430.8% | -29.4% | +54.2% | — |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -58.5% | 34.6% | 37.4% | -24.5% | -13.0% | -11.5% | -17.5% | -17.9% | -19.9% | -44.4% | -52.5% | -47.4% | 210.9% |
| — | +402.0% | +314.3% | -36.9% | +34.6% | +74.2% | +66.8% | +62.2% | -109.5% | — | +85.2% | +76.7% | — | |
| ROA | -49.3% | 19.1% | 27.7% | -18.2% | -11.0% | -10.2% | -15.7% | -15.8% | -18.2% | -38.1% | -24.5% | -17.4% | 18.1% |
| — | +287.1% | +276.2% | -15.1% | +39.8% | +73.2% | +35.9% | +9.2% | -200.6% | -142.9% | -18.8% | +61.9% | — | |
| ROIC | -249.5% | 32.4% | 25.8% | -63.1% | -46.0% | -29.9% | -59.2% | -80.4% | -175.1% | — | — | — | — |
| — | +208.5% | +143.6% | +21.6% | +73.7% | — | — | — | — | — | — | — | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has weakened 77.1% YoY to 2.04x, tightening the short-term liquidity position.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | — | 0.27 | 0.02 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.08 | 0.25 | 0.21 |
| — | — | +2717.6% | +80.2% | -65.3% | -46.7% | -88.1% | -95.6% | -94.7% | — | — | — | — | |
| Debt / EBITDA | — | — | 1.24 | — | — | — | — | — | — | — | — | — | 0.42 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 5.52 | 2.04 | 1.08 | 2.89 | 5.52 | 8.89 | 10.86 | 11.94 | 7.84 | 28.31 | 7.22 | 3.66 | 5.01 |
| — | -77.1% | -90.0% | -75.8% | -29.5% | -68.6% | +50.4% | +226.2% | +56.4% | +273.2% | -6.7% | -83.6% | — | |
| Quick Ratio | 5.52 | 2.04 | 1.08 | 2.89 | 5.52 | 8.89 | 10.86 | 11.94 | 7.84 | 28.31 | 7.22 | 3.66 | 5.01 |
| — | -77.1% | -90.0% | -75.8% | -29.5% | -68.6% | +50.4% | +226.2% | +56.4% | +273.2% | -6.7% | -83.6% | — | |
| Interest Coverage | — | 24.58 | 22.15 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 15 years · Updated daily
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Start ComparisonDeFi Development Corp.'s current P/E is -12.5x. The average P/E over the last 2 quarters is 4.2x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
DeFi Development Corp.'s current operating margin is -143.0%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking DeFi Development Corp.'s business trajectory between earnings reports.