Latest Ratios: P/E Ratio 105.7x · EV/EBITDA 72.4x · ROE 7.5%. (2018–2025 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 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.9B | $6.9B | $9.1B | $6.5B | $3.3B | $6.4B | — | — | — |
| Enterprise Value | $6.7B | $6.7B | $8.9B | $6.3B | $3.1B | $6.0B | — | — | — |
| P/E Ratio → | 105.74 | 100.79 | — | — | — | — | — | — | — |
| P/S Ratio | 7.20 | 7.19 | 12.12 | 11.43 | 7.96 | 26.29 | — | — | — |
| P/B Ratio | 7.78 | 7.42 | 10.21 | 7.22 | 3.51 | 9.27 | — | — | — |
| P/FCF | 24.68 | 24.65 | 54.62 | 61.17 | 40.19 | 422.39 | — | — | — |
| P/OCF | 24.41 | 24.38 | 53.86 | 60.19 | 36.44 | 355.30 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.96 | 11.82 | 11.12 | 7.60 | 24.55 | — | — | — |
| EV / EBITDA | 72.36 | 72.27 | 87.54 | 177.92 | — | — | — | — | — |
| EV / EBIT | 93.55 | 93.42 | — | — | — | — | — | — | — |
| EV / FCF | — | 23.86 | 53.24 | 59.51 | 38.40 | 394.41 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 45.3% | 45.3% | 45.1% | 41.0% | 38.7% | 37.3% | 31.9% | 28.3% | 22.2% |
| Operating Margin | 7.4% | 7.4% | -9.0% | -24.0% | -46.3% | -26.8% | 6.2% | -7.5% | -26.9% |
| Net Profit Margin | 7.1% | 7.1% | -10.0% | -23.5% | -47.8% | -30.6% | 2.9% | -11.5% | -30.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.5% | 7.5% | -8.4% | -14.6% | -24.1% | -17.9% | 8.8% | — | -143.3% |
| ROA | 5.0% | 5.0% | -6.1% | -11.3% | -19.5% | -12.6% | 2.0% | -20.9% | -40.6% |
| ROIC | 7.8% | 7.8% | -7.3% | -13.6% | -27.0% | -28.5% | 61.1% | — | — |
| ROCE | 7.7% | 7.7% | -7.4% | -14.6% | -22.7% | -13.4% | 6.3% | -99.6% | -127.6% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.03 | 0.03 | 0.02 | 0.03 | 0.03 | — | — |
| Debt / EBITDA | 0.25 | 0.25 | 0.24 | 0.65 | — | — | 0.51 | — | — |
| Net Debt / Equity | — | -0.24 | -0.26 | -0.20 | -0.16 | -0.61 | -0.45 | — | -1.18 |
| Net Debt / EBITDA | -2.40 | -2.40 | -2.26 | -4.96 | — | — | -7.42 | — | — |
| Debt / FCF | — | -0.79 | -1.38 | -1.66 | -1.79 | -27.99 | -2.22 | -0.53 | — |
| Interest Coverage | 61.20 | 61.20 | -5.92 | — | -15.66 | -7.66 | 1.94 | -1.93 | -8.91 |
Net cash position: cash ($246M) exceeds total debt ($24M)
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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.93 | 1.93 | 2.08 | 1.90 | 1.79 | 4.73 | 1.82 | 0.94 | 1.28 |
| Quick Ratio | 1.93 | 1.93 | 2.09 | 1.90 | 1.79 | 4.39 | 1.82 | 0.69 | 1.28 |
| Cash Ratio | 1.22 | 1.22 | 1.36 | 1.16 | 1.09 | 3.87 | 1.10 | 0.12 | 0.47 |
| Asset Turnover | — | 0.66 | 0.60 | 0.47 | 0.35 | 0.29 | 0.39 | 1.51 | 1.35 |
| Inventory Turnover | — | — | — | 346.75 | — | 3.40 | — | 4.43 | — |
| Days Sales Outstanding | — | 125.57 | 79.60 | 119.04 | 84.37 | 157.52 | 101.94 | 130.53 | 7.08 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.9% | 1.0% | — | — | — | — | — | — | — |
| FCF Yield | 4.1% | 4.1% | 1.8% | 1.6% | 2.5% | 0.2% | — | — | — |
| Buyback Yield | 1.0% | 1.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 1.0% | 1.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $176M | $167M | $164M | $158M | $102M | $29M | $122M | $122M |
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying GLBE stock.
Global-e Online Ltd.'s current P/E ratio is 105.7x. The historical average is 100.8x. This places it at the 100th percentile of its historical range.
Global-e Online Ltd.'s current EV/EBITDA is 72.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 79.9x.
Global-e Online Ltd.'s return on equity (ROE) is 7.5%. The historical average is -27.4%.
Based on historical data, Global-e Online Ltd. is trading at a P/E of 105.7x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Global-e Online Ltd. has 45.3% gross margin and 7.4% operating margin.
Global-e Online Ltd.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
GMV-linked revenue cyclicality
Growth Premium Demands Execution
GLBE's forward P/E of 33.16 and PEG of 0.78, as reported in recent market data, imply the market is pricing in sustained high growth, a premium justified only if the company maintains its current revenue acceleration and margin expansion trajectory.
The valuation multiples, particularly the forward P/E of 33.16, are significantly higher than peers like Shift4 Payments (40.70 P/E) but appear to discount a much higher growth rate, as evidenced by the PEG ratio below 1.0. This suggests the market is pricing GLBE as a high-growth SaaS platform rather than a logistics-heavy enabler, a distinction that may be challenged if GMV growth decelerates or if the take rate compresses. The current EV/EBITDA of 70.02 further underscores the expectation of substantial future earnings power, which must be validated by continued operating leverage.
Operating Leverage Inflects, But Durability Uncertain
Operating margin expanded to 14.9% in 2026Q2 from a loss of 20.1% in 2024Q1, as reported in financial statements, indicating powerful operating leverage as revenue scales, though the sustainability of this margin level requires monitoring.
The dramatic swing in operating margin demonstrates that the company's fixed cost base, particularly SG&A, is being absorbed by rapid revenue growth. However, the gross margin has remained stable in the 44-46% range, indicating that the core profitability improvement is driven by operating efficiency rather than a shift in the revenue mix toward higher-margin services. Investors should monitor whether this margin expansion can be maintained as the company pursues larger enterprise accounts, which may require higher sales and support costs.
Returns Turn Positive, But Capital Base is Expanding
ROIC improved to 4.8% in 2026Q2 from negative levels in 2024, as reported in financial statements, suggesting the business is beginning to generate returns on invested capital, though the level remains modest relative to the company's growth profile.
The positive inflection in ROIC is a critical milestone, indicating that the company's investments in technology and merchant acquisition are starting to generate returns. However, the ROIC of 4.8% is still well below the cost of capital for a high-growth technology company, suggesting that the business is still in an investment phase. The trend is positive, but the company must demonstrate that it can sustain and grow these returns as its capital base expands through retained earnings and potential future debt.
Working Capital Swings Mask Underlying Efficiency
Days Sales Outstanding (DSO) fluctuated between 36 and 89 days over the past ten quarters, as reported in financial statements, indicating significant volatility in cash collection cycles that is likely tied to seasonal GMV patterns.
The wide swings in DSO, from a low of 36 days in 2026Q2 to a high of 89 days in 2024Q1, suggest that the company's cash conversion is heavily influenced by the timing of large merchant settlements and seasonal sales peaks. This volatility complicates the assessment of underlying operational efficiency. The absence of inventory data (DIO) is notable, as it prevents a full calculation of the Cash Conversion Cycle, but the DSO trend alone indicates that working capital management is a key area for potential improvement.
Fortress Balance Sheet Preserves Strategic Optionality
A debt-to-equity ratio of 0.03 and interest coverage of 22.68x in 2026Q1, as reported in recent filings, confirm a near-zero leverage profile that minimizes financial risk and provides significant capacity for future M&A or strategic initiatives.
The company's minimal leverage is a strategic asset, providing a buffer against cyclical downturns in cross-border e-commerce and preserving optionality for acquisitions like Borderfree. The high interest coverage ratio, when available, indicates that debt service is not a concern. This financial flexibility is a key differentiator from more leveraged peers and allows management to invest in growth without the constraints of debt covenants or refinancing risk.
The Misapplied Metric: Net Margin
Net margin is the ratio most commonly misapplied to GLBE's business model, as it can be distorted by non-cash items like stock-based compensation and volatile depreciation, obscuring the true cash-generative potential of the platform.
For a company like GLBE, where stock-based compensation is a significant expense and depreciation can be volatile due to intangible asset amortization, net margin can swing dramatically and may not reflect underlying operational profitability. A more appropriate metric for assessing core earning power is adjusted gross profit or a margin that excludes SBC and non-recurring items. Investors should focus on the stability of the gross margin and the trajectory of operating leverage rather than the volatile net margin, which can be misleading in periods of high investment or acquisition integration.