Latest Ratios: P/E Ratio -0.1x · EV/EBITDA 17.9x · ROE -63.7%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $4M | $11M | — | — | — |
| Enterprise Value | $22M | $29M | — | — | — |
| P/E Ratio → | -0.10 | — | — | — | — |
| P/S Ratio | 0.14 | 0.42 | — | — | — |
| P/B Ratio | 0.06 | 1.09 | — | — | — |
| 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 |
|---|---|---|---|---|---|
| EV / Revenue | — | 1.14 | — | — | — |
| EV / EBITDA | 17.90 | 23.68 | — | — | — |
| 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 |
|---|---|---|---|---|---|
| Gross Margin | 41.1% | 41.1% | 40.7% | 38.1% | 18.9% |
| Operating Margin | -17.9% | -17.9% | 10.1% | 10.6% | 3.7% |
| Net Profit Margin | -20.8% | -20.8% | 5.9% | 6.3% | 2.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -63.7% | -63.7% | 40.8% | 76.1% | 36.4% |
| ROA | -16.9% | -16.9% | 8.2% | 8.6% | 2.8% |
| ROIC | -13.2% | -13.2% | 12.8% | 14.8% | 5.1% |
| ROCE | -21.6% | -21.6% | 19.4% | 22.5% | 7.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 1.94 | 1.94 | 2.72 | 4.84 | 7.51 |
| Debt / EBITDA | 15.63 | 15.63 | 3.18 | 2.77 | 5.17 |
| Net Debt / Equity | — | 1.86 | 2.52 | 4.70 | 7.16 |
| Net Debt / EBITDA | 14.94 | 14.94 | 2.94 | 2.69 | 4.92 |
| Debt / FCF | — | — | 13.24 | 8.93 | — |
| Interest Coverage | -11.22 | -11.22 | 21.24 | 22.92 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 1.10 | 1.10 | 1.04 | 1.12 | 0.81 |
| Quick Ratio | 0.60 | 0.60 | 0.36 | 0.34 | 0.09 |
| Cash Ratio | 0.07 | 0.07 | 0.18 | 0.07 | 0.06 |
| Asset Turnover | — | 0.75 | 1.11 | 1.26 | 1.17 |
| Inventory Turnover | 2.34 | 2.34 | 3.56 | 3.51 | 3.03 |
| Days Sales Outstanding | — | 18.49 | 8.84 | 8.81 | 3.05 |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $245875 | $245875 | $245875 | $245875 |
Liquidity and solvency risk
According to recent market data, FLYE trades at a P/S multiple of 0.14, a valuation level that suggests investors are heavily discounting the company's future revenue potential due to persistent operating losses and the ongoing contraction of its core retail-centric business model in the NYC market.
The extremely low P/S ratio indicates that the market assigns little value to the company's current revenue stream, likely due to the lack of a clear path to profitability. Investors appear to be pricing in a high probability of further equity dilution or a fundamental restructuring, as the current valuation fails to reflect any meaningful growth premium.
As reported in financial statements, FLYE's operating margin has deteriorated to -58.8% in 2026Q3, highlighting a structural inability to cover fixed retail overhead costs despite maintaining a gross margin of 39.6%, which suggests that the current business model is fundamentally unscalable under existing market conditions.
The wide gap between gross and operating margins points to an inefficient cost structure where high fixed expenses, such as urban retail rent and labor, overwhelm the contribution from vehicle sales. This trend suggests that the company's earning power is currently non-existent, and any potential for future profitability remains highly speculative.
Based on the company's reported figures, the cash conversion cycle has ballooned to 392 days in 2026Q3, driven primarily by a massive 334-day inventory turnover period, which indicates that capital is being trapped in unsold stock rather than being recycled into productive operational activities.
The dramatic increase in the cash conversion cycle suggests that inventory management has become a significant drag on liquidity, potentially signaling obsolescence risks for older e-bike models. This inefficiency forces the company to rely on external financing to bridge the gap between cash outflows for procurement and cash inflows from sales.
As indicated by the latest quarterly filings, the quick ratio has declined to 2.14, yet this figure masks the reality of a rapidly depleting cash balance that leaves the company with limited flexibility to navigate the current period of negative operating cash flow and revenue contraction.
While the current ratio appears superficially adequate, the reliance on inventory to meet short-term obligations is dangerous given the slow turnover rates observed. Investors should monitor the company's ability to maintain these liquidity levels without resorting to dilutive capital raises or fire-sale inventory liquidations.
The P/S ratio is frequently misapplied to FLYE, as it obscures the company's severe cash-burning nature and the high fixed-cost burden of its retail footprint, which renders revenue growth metrics largely irrelevant if the underlying unit economics remain deeply negative and unsustainable in the long term.
Analysts should instead prioritize free cash flow yield or cash burn rates, as these metrics better capture the immediate existential threat posed by the company's current financial trajectory. Relying on P/S multiples ignores the critical reality that revenue generation is currently value-destructive rather than value-accretive for shareholders.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying FLYE stock.
Fly-E Group, Inc. Common Stock's current P/E ratio is -0.1x. This places it at the 50th percentile of its historical range.
Fly-E Group, Inc. Common Stock's current EV/EBITDA is 17.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.7x.
Fly-E Group, Inc. Common Stock's return on equity (ROE) is -63.7%. The historical average is 22.4%.
Based on historical data, Fly-E Group, Inc. Common Stock is trading at a P/E of -0.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Fly-E Group, Inc. Common Stock has 41.1% gross margin and -17.9% operating margin.
Fly-E Group, Inc. Common Stock's Debt/EBITDA ratio is 15.6x, indicating high leverage. A ratio above 4x may signal elevated financial risk.