Latest Ratios: P/E Ratio 199.0x · EV/EBITDA 10.9x · 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 | $282M | $237M | $260M | $327M | $505M | $1.4B | $3.8B | $1.4B | $1.9B | $1.7B | $1.4B |
| Enterprise Value | $560M | $514M | $582M | $688M | $962M | $1.9B | $4.1B | $1.6B | $1.8B | $1.7B | $1.3B |
| P/E Ratio → | 199.00 | 166.00 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.38 | 0.32 | 0.36 | 0.45 | 0.69 | 2.24 | 7.21 | 3.11 | 5.42 | 5.79 | 5.44 |
| P/B Ratio | 1.94 | 1.61 | 2.12 | 3.21 | 5.05 | 7.83 | 23.91 | 7.27 | 7.66 | 7.84 | 4.77 |
| P/FCF | 5.42 | 4.55 | 5.18 | 5.27 | 14.90 | 140.29 | — | — | — | 4552.03 | 97.63 |
| P/OCF | 5.06 | 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 | 10.93 | 10.05 | 10.69 | 35.16 | 49.16 | — | — | — | — | — | 354.74 |
| EV / EBIT | 29.56 | 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 | 29.06 | — | — | — | — | — | — |
| 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 | 23.37 | — | — | — | — | — | -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 | 0.5% | 0.6% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 18.4% | 22.0% | 19.3% | 19.0% | 6.7% | 0.7% | — | — | — | 0.0% | 1.0% |
| Buyback Yield | 0.7% | 0.8% | 0.0% | 0.0% | 11.9% | 3.2% | 0.0% | 0.0% | 0.4% | 1.3% | 0.2% |
| Total Shareholder Yield | 0.7% | 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 199.0x. The historical average is 47.8x. This places it at the 100th percentile of its historical range.
8x8, Inc.'s current EV/EBITDA is 10.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 28.3x.
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 199.0x. This is at the 100th 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
Voice service commoditization
Metrics are mathematically derived from official filings.
Market Skepticism Limits Valuation Multiples
According to current market data, 8x8 trades at a P/S ratio of 0.33, which significantly trails pure-play CCaaS competitors and suggests that investors are heavily discounting the company's future growth prospects due to the ongoing commoditization of its core unified communications and telephony service offerings.
The low P/S multiple relative to the broader software sector indicates that the market views 8x8 as a value-trap rather than a high-growth SaaS entity. This valuation appears to reflect deep skepticism regarding the company's ability to defend its market share against larger, better-capitalized productivity suites.
Capital Efficiency Remains Substantially Depressed
Based on reported financial statements, 8x8's ROIC has struggled to exceed 1.3% in recent quarters, a figure that highlights the company's inability to generate meaningful returns on its invested capital base compared to the higher-margin, more efficient software peers within the broader application industry.
The consistently low ROIC suggests that the capital deployed for past acquisitions and infrastructure has not yet translated into a sustainable competitive advantage. Investors should monitor whether the company can improve its capital allocation efficiency as it pivots toward a more disciplined, profitability-focused operational strategy.
Working Capital Cycles Constrain Liquidity
As indicated by the latest quarterly data, 8x8's asset turnover ratio remains stagnant at 0.28, reflecting a business model that requires significant asset intensity to support its telephony infrastructure, which contrasts sharply with the leaner, more scalable operating models typically found in pure-play software-as-a-service firms.
The persistent drag from working capital, evidenced by the company's DPO trends, suggests that 8x8 lacks the bargaining power to optimize its cash conversion cycle effectively. This inefficiency appears to be a structural byproduct of its hybrid service-and-hardware revenue model, which limits the company's overall operational agility.
Debt Burden Pressures Financial Flexibility
According to recent SEC filings, 8x8's debt-to-EBITDA ratio of 31.63 in 2026Q4 underscores a highly leveraged position that leaves the firm with minimal room for error, especially given the thin operating margins and the inherent volatility associated with its current telephony-heavy service revenue stream.
While the company has made progress in reducing its debt-to-equity ratio, the absolute level of debt remains a significant overhang that restricts strategic investment. The interest coverage ratio, which has fluctuated near 1.68, warrants close monitoring as any further tightening in credit conditions could exacerbate refinancing risks.
Misapplication of SaaS Valuation Metrics
Based on an analysis of industry benchmarks, the most commonly misapplied metric for 8x8 is the standard SaaS P/S multiple, which fails to account for the lower-margin CPaaS and hardware components that dilute the company's overall revenue quality compared to pure-play subscription software providers.
Investors should instead focus on gross margin adjusted for stock-based compensation and service-specific churn rates to better gauge the underlying health of the business. Relying on top-line revenue multiples obscures the reality that a significant portion of 8x8's revenue is transactional and carries a lower structural margin profile.