Latest Ratios: P/E Ratio 42.2x · EV/EBITDA 11.6x · ROE 1.2%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $302M | $237M | $260M | $327M | $505M | $1.4B | $3.8B | $1.4B | $1.9B | $1.7B | $1.4B |
| Enterprise Value | $580M | $514M | $582M | $688M | $962M | $1.9B | $4.1B | $1.6B | $1.8B | $1.7B | $1.3B |
| P/E Ratio → | 42.18 | 166.00 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.40 | 0.32 | 0.36 | 0.45 | 0.69 | 2.24 | 7.21 | 3.11 | 5.42 | 5.79 | 5.44 |
| P/B Ratio | 2.07 | 1.61 | 2.12 | 3.21 | 5.05 | 7.83 | 23.91 | 7.27 | 7.66 | 7.84 | 4.77 |
| P/FCF | 5.11 | 4.55 | 5.18 | 5.27 | 14.90 | 140.29 | — | — | — | 4552.03 | 97.63 |
| P/OCF | 5.42 | 4.25 | 4.08 | 4.14 | 10.35 | 41.15 | — | — | — | 77.86 | 48.38 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.70 | 0.81 | 0.94 | 1.32 | 2.94 | 7.76 | 3.67 | 5.24 | 5.68 | 5.28 |
| EV / EBITDA | 11.56 | 10.05 | 10.69 | 35.16 | 39.00 | — | — | — | — | — | 354.74 |
| EV / EBIT | 30.61 | 24.16 | 121.37 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 9.89 | 11.61 | 11.09 | 28.39 | 184.15 | — | — | — | 4467.94 | 94.72 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.6% | 64.6% | 67.9% | 69.1% | 69.1% | 61.2% | 56.8% | 54.9% | 63.1% | 76.0% | 75.5% |
| Operating Margin | 2.6% | 2.6% | 2.1% | -3.8% | -3.8% | -24.2% | -27.5% | -35.8% | -25.8% | -14.1% | -2.6% |
| Net Profit Margin | 0.2% | 0.2% | -3.8% | -9.3% | -9.3% | -27.5% | -31.1% | -38.6% | -25.2% | -35.2% | -1.9% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.2% | 1.2% | -24.3% | -67.0% | -47.9% | -102.3% | -94.3% | -78.3% | -37.9% | -41.2% | -1.7% |
| ROA | 0.2% | 0.2% | -3.8% | -8.5% | -7.7% | -22.1% | -24.0% | -27.6% | -21.5% | -34.2% | -1.5% |
| ROIC | 3.3% | 3.3% | 2.5% | -4.1% | -3.5% | -21.4% | -24.5% | -37.9% | -36.3% | -14.5% | -2.0% |
| ROCE | 3.8% | 3.8% | 2.8% | -4.6% | -4.1% | -24.2% | -25.8% | -30.5% | -26.3% | -16.4% | -2.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.53 | 2.53 | 3.36 | 4.68 | 5.69 | 2.95 | 2.52 | 2.04 | 0.87 | — | — |
| Debt / EBITDA | 7.24 | 7.24 | 7.54 | 24.40 | 23.05 | — | — | — | — | — | — |
| Net Debt / Equity | — | 1.89 | 2.64 | 3.54 | 4.58 | 2.45 | 1.81 | 1.32 | -0.24 | -0.14 | -0.14 |
| Net Debt / EBITDA | 5.42 | 5.42 | 5.92 | 18.46 | 18.54 | — | — | — | — | — | -10.89 |
| Debt / FCF | — | 5.34 | 6.43 | 5.82 | 13.50 | 43.87 | — | — | — | -84.09 | -2.91 |
| Interest Coverage | 1.20 | 1.20 | 0.17 | -0.61 | -0.61 | -6.75 | -7.80 | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.09 | 1.09 | 1.20 | 1.44 | 1.19 | 1.44 | 2.28 | 2.25 | 5.32 | 3.17 | 4.55 |
| Quick Ratio | 1.09 | 1.09 | 1.20 | 1.44 | 1.19 | 1.44 | 2.28 | 1.98 | 5.11 | 3.17 | 4.53 |
| Cash Ratio | 0.48 | 0.48 | 0.52 | 0.68 | 0.60 | 0.71 | 1.26 | 1.38 | 4.64 | 2.71 | 4.04 |
| Asset Turnover | — | 1.11 | 1.05 | 0.96 | 0.87 | 0.70 | 0.78 | 0.64 | 0.65 | 1.07 | 0.76 |
| Inventory Turnover | — | — | — | — | — | — | — | 6.13 | 8.33 | — | 68.41 |
| Days Sales Outstanding | — | 28.28 | 25.36 | 29.54 | 31.21 | 32.83 | 43.87 | 45.06 | 20.89 | 20.06 | 20.55 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.4% | 0.6% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 19.6% | 22.0% | 19.3% | 19.0% | 6.7% | 0.7% | — | — | — | 0.0% | 1.0% |
| Buyback Yield | 0.6% | 0.8% | 0.0% | 0.0% | 11.9% | 3.2% | 0.0% | 0.0% | 0.4% | 1.3% | 0.2% |
| Total Shareholder Yield | 0.6% | 0.8% | 0.0% | 0.0% | 11.9% | 3.2% | 0.0% | 0.0% | 0.4% | 1.3% | 0.2% |
| Shares Outstanding | — | $143M | $130M | $121M | $121M | $113M | $118M | $100M | $95M | $92M | $90M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying EGHT stock.
8x8, Inc.'s current P/E ratio is 42.2x. The historical average is 47.8x. This places it at the 83th percentile of its historical range.
8x8, Inc.'s current EV/EBITDA is 11.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 27.2x.
8x8, Inc.'s return on equity (ROE) is 1.2%. The historical average is -46.7%.
Based on historical data, 8x8, Inc. is trading at a P/E of 42.2x. This is at the 83th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
8x8, Inc. has 64.6% gross margin and 2.6% operating margin.
8x8, Inc.'s Debt/EBITDA ratio is 7.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Interest coverage near 1x
Metrics are mathematically derived from official filings.
Cheapness Reflects Growth Fatigue
At 6.5x forward EBITDA and 0.42x trailing sales, 8x8 screens materially cheaper than Five9 (25.5x) and Magnite (20.9x) yet richer than NICE (8.2x) on EV/EBITDA, suggesting the market prices low-single-digit growth rather than a distressed multiple, per current valuation data.
The 220x trailing P/E against a 6.0x forward P/E implies the market expects earnings to normalize from an almost negligible base rather than to inflect sharply, which is consistent with operating margins of just 2.3% in 2027Q1. Against peers, the 11.5x EV/EBITDA sits between NICE's 8.2x and Magnite's 20.9x, a positioning that appears to credit 8x8's positive free cash flow while discounting its sub-2% ROIC. The 0.42x price/sales multiple, if it holds relative to peers, would suggest the equity is priced for limited franchise value; investors should monitor whether forward multiple compression proves durable or simply reflects depressed trailing EBITDA.
Returns Stubbornly Below Cost
ROIC has oscillated in a 0.1%-1.7% band across ten quarters and most recently printed 0.8%, versus NICE's 13.2% and Five9's 1.7%, per reported ratio data, a persistent shortfall that appears rooted in margin compression rather than excessive capital intensity.
Even in the strongest quarters (ROIC of 1.7% in 2026Q3 and 2025Q3), 8x8's returns remain below any plausible cost of capital, implying that the reported equity base of $147.8M and $357.5M of debt are not generating economic profit on the current configuration. The 0.28x asset turnover, up only from 0.23x over ten quarters, shows the improvement driver has been a slowly shrinking asset base rather than revenue velocity, which is a fragile way to lift returns. Given gross margin fell from 68.1% to 61.2% over the period, the ROIC trajectory suggests operating leverage has not yet been established, and investors should treat the recent 0.8% reading as more indicative than the occasional 1.7% spikes.
Deleveraging Offset by Thin Coverage
Debt-to-equity has nearly halved from 4.68 to 2.42 and D/EBITDA eased to 18.0x from 54.6x over ten quarters, yet interest coverage of 1.15x in 2027Q1 signals debt service still absorbs most of reported operating income, according to recent SEC filings.
The direction of travel is clearly positive — total debt fell from $477.6M to $357.5M while equity rose to $147.8M — but 2.42x D/E remains elevated versus NICE (0.04x) and Five9 (1.08x), so the multiple still looks aggressive against profitable peers. Coverage has been volatile rather than steadily improving (0.04x in 2025Q4, 2.22x in 2026Q3, 1.15x now), which suggests refinancing comfort depends heavily on which quarter's earnings are annualized, a situation that warrants further investigation of the maturity profile. With operating income of only $4.4M in 2027Q1, even a modest reversal in the cost structure could push coverage back below 1x, implying debt service capacity is more fragile than the improving headline ratios imply.
Supplier Credit Run-Down Tightens Cycle
Asset turnover crept up to 0.28 from 0.23 while days payable outstanding collapsed from 83 to 46 over ten quarters, per reported balance sheet data, meaning 8x8 is funding operations with less supplier float even as DSO holds steady near 30 days.
The DPO compression is the most consequential working capital trend: cutting supplier terms by roughly 37 days has historically been a use of cash, which may help explain why cash fell from $116.3M to $90.6M despite $149M of cumulative free cash flow. Stable DSO around 26-33 days suggests customer collection discipline is intact, so the efficiency story is asymmetric — receivables are not the problem, but the loss of payables financing narrows the current ratio to 1.05x. Data unavailable: days inventory outstanding and the cash conversion cycle are not reported for this software business, so no inference on inventory-driven efficiency should be drawn from their absence.
Trailing P/E Misreads Software Economics
The 220x trailing P/E against a 6.0x forward P/E shows how near-zero quarterly earnings distort the headline multiple, per current valuation data; for a subscription software model burdened by acquired-intangible amortization and stock compensation, revenue and free cash flow multiples warrant substantially more weight.
This ratio is routinely misapplied to 8x8 because net margins have printed between -8.0% and 2.8% over ten quarters, so any P/E computed on such a small denominator swings from meaningless to misleading, as the 220x-versus-6.0x gap demonstrates. It also obscures that roughly $61M of stock-based compensation over the period was added back to operating cash flow without a cash outflow, meaning P/FCF of 5.99x flatters economic reality in the opposite direction. The better lens appears to be EV/Sales adjusted for SBC drag plus ROIC context: at 0.42x sales with sub-1% returns on capital, the cheapness looks less like a value opportunity and more like the market pricing a business that has yet to demonstrate it can compound.