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DXYZDestiny Tech100 Inc.
$25.38$276M
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  4. Financial Ratios

Destiny Tech100 Inc. (DXYZ) Financial Ratios

Latest Ratios: P/E Ratio 7.2x · EV/EBITDA 6.1x · ROE 17.4%. (2021–2025 historical series)

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly

DXYZ Valuation Multiples

Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Market Cap$276M$383M$640M———
Enterprise Value$272M$378M$640M———
P/E Ratio →7.178.6536.79———
P/S Ratio——————
P/B Ratio0.720.879.14———
P/FCF——1842.51———
P/OCF——1842.51———

P/E links to full P/E history page with 30-year chart

DXYZ EV Ratios

Enterprise-value multiples — capital-structure-neutral measures of total business value

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021
EV / Revenue——————
EV / EBITDA6.148.5536.75———
EV / EBIT6.148.5536.75———
EV / FCF——1842.51———

DXYZ Profitability

Margins and return-on-capital ratios measuring operating efficiency

Margins

Full margin charts and quarterly trend are on the Earnings History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Gross Margin246.6%246.6%-153869.0%-512.1%91.1%—
Operating Margin-1562.4%-1562.4%-137237.1%-1148.7%-15.4%—
Net Profit Margin-1562.4%-1562.4%-137237.1%-1148.7%-15.4%—

Return on Capital

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021
ROE17.4%17.4%28.4%-7.6%-14.9%—
ROA17.3%17.3%27.9%-7.2%-4.9%-4.1%
ROIC13.1%13.1%21.3%-5.7%-4.2%—
ROCE17.3%17.3%27.9%-7.2%-4.9%—

DXYZ Leverage & Debt

Solvency and debt-coverage ratios — lower is generally safer

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Debt / Equity0.000.00————
Debt / EBITDA0.000.00————
Net Debt / Equity—-0.010.000.09-0.21—
Net Debt / EBITDA-0.10-0.100.00———
Debt / FCF——0.00——106.63
Interest Coverage——90.58———

Net cash position: cash ($4M) exceeds total debt ($1300)

DXYZ Liquidity & Efficiency

Short-term solvency ratios and asset-utilisation metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Current Ratio163642.24163642.24————
Quick Ratio163642.24163642.24————
Cash Ratio3382.333382.33————
Asset Turnover—-0.01-0.000.010.41—
Inventory Turnover——————
Days Sales Outstanding——————

DXYZ Shareholder Yields

Earnings, FCF, buyback, and dividend yields — total returns to shareholders

Dividends

Full dividend history and growth charts are on the Dividend History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Dividend Yield——————
Payout Ratio——————

Total Shareholder Return Metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021
Earnings Yield14.0%11.6%2.7%———
FCF Yield——0.1%———
Buyback Yield0.0%—————
Total Shareholder Yield0.0%—————
Shares Outstanding—$12M$11M$11M$11M$3M

Key Metrics

Growth RegimeMixed
ProfitabilityNegative
Balance SheetMixed
Cash FlowBurning
Top Statement Risk

NAV Valuation Volatility

Market Premium Decoupled From Fundamentals

According to recent SEC filings, DXYZ trades at a P/E of 7.17 and a P/B of 0.72, metrics that appear disconnected from the underlying volatility of its private holdings and suggest investors are pricing the ticker as a speculative tech derivative rather than a traditional asset manager.

The current valuation multiples warrant caution as they likely reflect retail sentiment rather than the intrinsic value of the fund's Level 3 assets. Investors should monitor whether the stock continues to trade at a premium to its Net Asset Value, as this divergence often precedes sharp corrections when market enthusiasm wanes.

Inconsistent Returns On Invested Capital

Based on reported figures, DXYZ's ROIC has fluctuated significantly, swinging from a negative 13.0% in 2022Q4 to a positive 11.4% in 2025Q4, which highlights the inherent difficulty in compounding capital when performance is tethered to the subjective, mark-to-market valuation of illiquid private technology companies.

The volatility in ROIC suggests that the fund's ability to generate returns is highly dependent on the timing of valuation adjustments rather than operational efficiency. This pattern indicates that the company is not yet a consistent compounder, and its returns may remain erratic until a more mature portfolio of exits is established.

Minimal Asset Turnover Reflects Illiquidity

As reported in financial statements, the company's asset turnover ratio remains extremely low at 0.01, illustrating the structural reality that DXYZ's capital is locked in long-term, illiquid private equity positions that offer little opportunity for rapid recycling or operational efficiency gains in the near term.

This low turnover is characteristic of a closed-end fund holding private assets, but it underscores the risk that the fund cannot quickly pivot its portfolio in response to changing market conditions. The lack of meaningful asset velocity suggests that the fund's performance will be dictated by the long-term success of its underlying holdings rather than active management turnover.

Misapplication Of Traditional Earnings Metrics

Data from the past ten quarters reveals that the P/E ratio is a fundamentally flawed metric for DXYZ, as it obscures the fact that the company's net income is driven by non-cash valuation adjustments rather than recurring operational cash flow from its portfolio of private technology assets.

Investors should instead focus on the Premium or Discount to Net Asset Value, as this provides a more accurate reflection of the market's appetite for the fund's underlying holdings. Relying on P/E ratios in this context may lead to a false sense of security regarding the fund's profitability and its ability to sustain operations.

Download Financial Ratios Data

Includes 30+ ratios · 5 years · Updated daily

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DXYZ — Frequently Asked Questions

Quick answers to the most common questions about buying DXYZ stock.

What is Destiny Tech100 Inc.'s P/E ratio?

Destiny Tech100 Inc.'s current P/E ratio is 7.2x. The historical average is 22.7x.

What is Destiny Tech100 Inc.'s EV/EBITDA?

Destiny Tech100 Inc.'s current EV/EBITDA is 6.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.7x.

What is Destiny Tech100 Inc.'s ROE?

Destiny Tech100 Inc.'s return on equity (ROE) is 17.4%. The historical average is 5.8%.

Is DXYZ stock overvalued?

Based on historical data, Destiny Tech100 Inc. is trading at a P/E of 7.2x. Compare with industry peers and growth rates for a complete picture.

What are Destiny Tech100 Inc.'s profit margins?

Destiny Tech100 Inc. has 246.6% gross margin and -1562.4% operating margin.

How much debt does Destiny Tech100 Inc. have?

Destiny Tech100 Inc.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.