Last 16 quarters of trend data
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -15.90 | — | 0.12 | — | — | — | — | — | 63.29 | — | 453.75 | 42.19 | 29.73 |
| — | — | — | — | — | — | — | — | +112.9% | — | +1062.2% | — | — | |
| P/S Ratio | 4.80 | 3.65 | 1.55 | — | — | 39.37 | 8.10 | 0.23 | 0.26 | 38.13 | — | — | — |
| — | -90.7% | -80.9% | — | — | +3.2% | — | — | — | — | — | — | — | |
| P/B Ratio | — | — | — | — | 14.72 | — | — | — | 3.07 | 6.67 | — | 3.34 | 1.30 |
| — | — | — | — | +379.8% | — | — | — | +136.8% | +416.3% | — | +170.7% | +4.1% | |
| P/FCF | — | — | — | — | — | — | 57.84 | 0.55 | 0.75 | — | 41.65 | 22.94 | 91.06 |
| — | — | — | — | — | — | +38.9% | -97.6% | -99.2% | — | -75.4% | — | — | |
| EV / EBITDA | — | — | — | — | — | — | — | — | 77.31 | — | 323.75 | 42.44 | 29.77 |
| — | — | — | — | — | — | — | — | +159.7% | — | +716.5% | — | — | |
| EV / EBIT | — | — | — | — | — | — | — | — | 77.31 | — | 323.75 | 42.44 | 29.77 |
| — | — | — | — | — | — | — | — | +159.7% | — | +716.5% | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Fusemachines Inc.'s operating margin was -161.5% in Q1 2026, down 109.2 pp QoQ and down 94.2 pp YoY. The trailing four-quarter average of -106.9% exceeds the current quarter, suggesting the latest result may reflect seasonal weakness or a one-off headwind. Gross margin contracted 9.6% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.8% | 50.5% | 55.8% | — | — | 55.8% | 56.4% | 66.9% | 69.3% | 52.7% | — | — | — |
| — | -9.6% | -0.9% | — | — | +5.8% | — | — | — | — | — | — | — | |
| Operating Margin | -77.2% | -161.5% | -52.4% | — | — | -67.3% | -62.1% | -0.6% | -0.3% | -95.3% | — | — | — |
| — | -139.8% | +15.7% | — | — | +29.3% | — | — | — | — | — | — | — | |
| Net Margin | -12.0% | -46.4% | 274.5% | — | — | -12.9% | -150.1% | -0.1% | 0.3% | -171.9% | — | — | — |
| — | -258.4% | +282.9% | — | — | +92.5% | — | — | — | — | — | — | — |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -4.1% | — | — | -1.1% | 1.0% | -18.6% | 0.3% | 0.7% | 1.1% |
| — | — | — | — | -527.7% | — | — | -256.3% | -12.6% | -2277.9% | -60.1% | +1279.4% | +1204.0% | |
| ROA | -0.4% | -5.1% | 101.1% | -99.1% | -1.9% | -0.1% | -1.2% | -0.0% | 0.1% | -11.7% | 0.2% | 0.7% | 1.1% |
| — | -5134.5% | +8394.2% | -209490.1% | -1432.2% | +99.2% | -683.2% | -106.9% | -86.6% | -825.1% | -86.7% | +1248.4% | +1201.1% | |
| ROIC | — | — | — | — | -1738.4% | — | — | -2.9% | -0.7% | -6.2% | -2.1% | -0.2% | -0.1% |
| — | — | — | — | -245680.0% | — | — | -1366.0% | -699.2% | -3149.2% | -2334.1% | -20.1% | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has improved 46.1% YoY to 0.21x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 0.68 | — | — | — | 0.05 | 0.04 | — | 0.02 | 0.00 |
| — | — | — | — | +1306.3% | — | — | — | +1438.9% | +2542.1% | — | — | — | |
| Debt / EBITDA | — | — | — | — | — | — | — | — | 4.77 | — | 85.23 | 1.05 | 0.29 |
| — | — | — | — | — | — | — | — | +1565.5% | — | +2629.3% | — | — | |
| Current Ratio | 0.31 | 0.21 | 0.31 | 0.28 | 1.43 | 0.14 | 12.64 | 12.72 | 30.68 | 5.73 | 0.52 | 6.44 | 25.92 |
| — | +46.1% | -97.5% | -97.8% | -95.4% | -97.5% | +2323.6% | +97.6% | +18.4% | -77.7% | -48.1% | +312.2% | +816.0% | |
| Quick Ratio | 0.31 | 0.21 | 0.31 | 0.28 | 1.43 | 0.14 | 12.64 | 12.72 | 30.68 | 5.73 | 0.52 | 6.44 | 25.92 |
| — | +46.1% | -97.5% | -97.8% | -95.4% | -97.5% | +2323.6% | +97.6% | +18.4% | -77.7% | -48.1% | +312.2% | +816.0% | |
| Interest Coverage | -2.45 | -56.20 | — | -0.06 | — | -2.83 | -44.18 | -3.87 | 18.79 | -73.93 | 3.02 | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
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Fusemachines Inc.'s current P/E is -15.9x. The average P/E over the last 1 quarters is 0.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Fusemachines Inc.'s current operating margin is -77.2%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Fusemachines Inc.'s business trajectory between earnings reports.