Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE -241.2%. (2012–2025 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $69M | $26M | $26M | $16M | $68M | $123M | $115M | $38M | $35M | $70M | $9M |
| Enterprise Value | $72M | $30M | $95M | $53M | $89M | $87M | $118M | $40M | $31M | $40M | $4M |
| P/E Ratio → | -0.18 | — | — | — | 5.35 | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 0.53 | 0.56 | 0.41 | 0.19 | 0.53 | 1.23 | 1.25 | 0.43 | 0.17 | 0.51 | 1.15 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | 1198.70 | 3.78 | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -241.2% | -241.2% | -0.0% | -61.6% | 11.1% | -36.3% | -2.6% | -81.2% | -16.0% | -11.8% | -57.5% |
| ROA | -79.1% | -79.1% | -0.0% | -38.5% | 7.1% | -25.7% | -2.4% | -76.9% | -15.5% | -11.5% | -52.2% |
| ROIC | -13.9% | -13.9% | 0.0% | 7.8% | -11.8% | -18.1% | -6.0% | -4.4% | -13.8% | -11.2% | -133.8% |
| ROCE | -19.2% | -19.2% | 0.0% | 10.5% | -11.3% | -14.6% | -7.4% | -5.6% | -16.4% | -11.3% | -57.3% |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.94 | 0.94 | 1.12 | 0.54 | 0.23 | 0.23 | 0.07 | 0.07 | — | — | — |
| Debt / EBITDA | — | — | 910.45 | 3.19 | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.10 | 1.06 | 0.44 | 0.17 | -0.35 | 0.03 | 0.02 | -0.02 | -0.22 | -0.68 |
| Net Debt / EBITDA | — | — | 863.39 | 2.65 | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -1.59 | -1.59 | -1.86 | — | — | -96.05 | -10.88 | — | — | — | -1923.21 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.46 | 0.46 | 0.08 | 0.66 | 0.25 | 13.16 | 3.68 | 17.89 | 1.35 | 8.98 | 15.26 |
| Quick Ratio | 0.46 | 0.46 | 0.08 | 0.66 | 0.25 | 13.16 | 3.68 | 17.89 | 1.34 | 8.98 | 15.26 |
| Cash Ratio | 0.44 | 0.44 | 0.05 | 0.51 | 0.15 | 12.83 | 1.47 | 15.42 | 0.84 | 8.57 | 13.36 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 18.7% | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $32M | $14M | $11M | $10M | $7M | $5M | $5M | $4M | $1M | $228007 |
Refinery commissioning execution risk
As reported in financial statements, the company's P/B ratio of 0.51 suggests that the market is currently pricing the firm at a significant discount to its book value, reflecting deep skepticism regarding the economic viability of its unproven refining assets in the current commodity cycle.
The negative TTM P/E ratio confirms the company's pre-revenue status, rendering traditional earnings-based valuation metrics irrelevant for assessing intrinsic value. Investors appear to be discounting the carrying value of the Ontario refinery, likely anticipating further impairment risks or capital dilution before the facility can achieve sustainable commercial production.
Based on the provided quarterly data, the ROIC has remained consistently negative, bottoming at -5.1% in 2025Q4, which indicates that the company is currently destroying rather than compounding invested capital as it struggles to transition from an exploration-focused entity to a functional midstream industrial processor.
The persistent negative ROIC trend highlights the inefficiency of capital deployment during the lengthy commissioning phase of the Ontario refinery. Without a clear path to positive operating margins, the company's ability to generate a return on its heavy asset base remains speculative and warrants extreme caution from a capital allocation perspective.
According to recent quarterly filings, the current ratio has fluctuated at dangerously low levels, reaching a nadir of 0.05 in 2025Q3, which underscores the company's extreme vulnerability to short-term liquidity shocks and its ongoing dependence on external financing to maintain basic operational readiness.
The inability to maintain a current ratio above 1.0 suggests that the company is operating with a razor-thin margin of safety, leaving it highly susceptible to any delays in project milestones or unexpected cost overruns. This liquidity profile implies that the firm may be forced into dilutive equity raises to satisfy immediate working capital requirements.
As indicated by the quarterly data, the debt-to-equity ratio climbed to 1.54 in 2025Q3, reflecting a growing reliance on debt financing that, when paired with negative interest coverage of -2.78 in 2026Q1, suggests a precarious financial structure that lacks the cash flow to support its current debt obligations.
The deteriorating interest coverage ratio indicates that the company is increasingly reliant on non-operating sources or further capital injections to service its debt. This leverage trend is particularly concerning given the absence of commercial revenue, as it increases the risk of covenant breaches or forced restructuring if the refinery commissioning timeline slips further.
Based on an analysis of the balance sheet, the P/B ratio is a fundamentally flawed metric for this business model, as it obscures the high probability that the carrying value of the refinery assets may not be recoverable in a distressed commodity price environment.
Investors should prioritize cash burn rates and project milestone completion over book value, as the latter is heavily influenced by capitalized development costs that may lack real-world liquidation value. Relying on P/B ratios risks ignoring the potential for significant asset impairments that could further erode the equity base if the refinery fails to meet its projected output targets.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying ELBM stock.
Electra Battery Materials Corporation's current P/E ratio is -0.2x. The historical average is 5.4x.
Electra Battery Materials Corporation's return on equity (ROE) is -241.2%. The historical average is -52.6%.
Based on historical data, Electra Battery Materials Corporation is trading at a P/E of -0.2x. Compare with industry peers and growth rates for a complete picture.