Latest Ratios: P/E Ratio -10.3x · EV/EBITDA 44.7x · ROE -183.6%. (1996–2025 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 | $64M | $110M | $158M | $74M | $101M | $184M | $210M | $112M | $99M | $68M | $60M |
| Enterprise Value | $77M | $124M | $169M | $71M | $94M | $178M | $194M | $93M | $89M | $55M | $46M |
| P/E Ratio → | -10.32 | — | — | — | — | 261.62 | 17.57 | 40.17 | — | — | — |
| P/S Ratio | 1.12 | 2.71 | 6.57 | 1.59 | 1.87 | 3.92 | 4.87 | 3.03 | 3.78 | 3.34 | 3.65 |
| P/B Ratio | 29.11 | 50.94 | 8.98 | 2.20 | 2.01 | 2.79 | 4.27 | 3.16 | 2.97 | 1.93 | 1.73 |
| P/FCF | — | — | — | — | 1161.97 | 31.03 | 30.93 | 11.76 | 158.84 | — | — |
| P/OCF | — | — | — | — | 216.01 | 29.98 | 30.31 | 11.35 | 79.43 | — | — |
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 | — | 3.04 | 7.04 | 1.52 | 1.75 | 3.79 | 4.51 | 2.53 | 3.37 | 2.71 | 2.83 |
| EV / EBITDA | 44.69 | — | — | — | — | 52.77 | 26.05 | 23.57 | — | — | — |
| EV / EBIT | — | — | — | — | — | 156.49 | 32.09 | 29.77 | — | — | — |
| EV / FCF | — | — | — | — | 1086.12 | 29.97 | 28.60 | 9.82 | 141.72 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.6% | 41.6% | 42.4% | 46.6% | 50.5% | 49.8% | 52.6% | 49.9% | 48.4% | 50.6% | 46.9% |
| Operating Margin | -41.2% | -41.2% | -111.3% | -23.5% | -28.7% | 2.3% | 14.0% | 8.5% | -5.6% | -4.0% | -9.7% |
| Net Profit Margin | -44.4% | -44.4% | -132.2% | -39.4% | -30.0% | 1.5% | 27.6% | 7.5% | -14.2% | -4.3% | -7.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -183.6% | -183.6% | -123.5% | -43.7% | -27.9% | 1.2% | 28.1% | 8.1% | -10.9% | -2.5% | -3.5% |
| ROA | -30.7% | -30.7% | -61.1% | -30.2% | -20.0% | 0.9% | 21.0% | 6.3% | -9.3% | -2.3% | -3.4% |
| ROIC | -56.7% | -56.7% | -67.5% | -22.2% | -22.5% | 1.7% | 18.1% | 11.9% | -4.9% | -2.8% | -5.9% |
| ROCE | -68.2% | -68.2% | -68.1% | -23.1% | -24.1% | 1.7% | 12.9% | 8.6% | -4.2% | -2.3% | -4.4% |
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 | 9.85 | 9.85 | 0.93 | 0.16 | 0.12 | 0.10 | 0.15 | 0.01 | 0.01 | — | — |
| Debt / EBITDA | — | — | — | — | — | 2.05 | 1.01 | 0.08 | — | — | — |
| Net Debt / Equity | — | 6.18 | 0.65 | -0.10 | -0.13 | -0.09 | -0.32 | -0.52 | -0.32 | -0.36 | -0.39 |
| Net Debt / EBITDA | — | — | — | — | — | -1.86 | -2.13 | -4.67 | — | — | — |
| Debt / FCF | — | — | — | — | -75.85 | -1.05 | -2.34 | -1.95 | -17.12 | — | — |
| Interest Coverage | -10.42 | -10.42 | -52.29 | — | — | — | — | — | — | — | — |
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 | 0.72 | 0.72 | 1.86 | 2.24 | 2.31 | 2.03 | 3.89 | 3.67 | 4.21 | 7.91 | 12.12 |
| Quick Ratio | 0.56 | 0.56 | 1.34 | 1.66 | 1.92 | 1.66 | 3.31 | 3.04 | 3.18 | 6.48 | 9.82 |
| Cash Ratio | 0.15 | 0.15 | 0.92 | 0.90 | 1.25 | 1.08 | 2.67 | 2.43 | 2.23 | 4.66 | 7.90 |
| Asset Turnover | — | 0.64 | 0.45 | 0.94 | 0.75 | 0.52 | 0.65 | 0.78 | 0.63 | 0.52 | 0.44 |
| Inventory Turnover | 2.70 | 2.70 | 1.89 | 3.83 | 4.45 | 3.67 | 3.42 | 3.17 | 2.01 | 1.91 | 1.82 |
| Days Sales Outstanding | — | 130.69 | 56.66 | 48.56 | 56.57 | 59.65 | 46.18 | 35.97 | 54.36 | 106.62 | 76.05 |
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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | 1.6% |
| 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 | — | — | — | — | — | 0.4% | 5.7% | 2.5% | — | — | — |
| FCF Yield | — | — | — | — | 0.1% | 3.2% | 3.2% | 8.5% | 0.6% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% | 0.0% | 0.2% | 1.9% | 0.7% | 0.0% | 2.9% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% | 0.0% | 0.2% | 1.9% | 0.7% | 0.0% | 4.5% |
| Shares Outstanding | — | $45M | $44M | $37M | $36M | $36M | $34M | $33M | $32M | $32M | $32M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying GNSS stock.
Genasys Inc.'s current P/E ratio is -10.3x. The historical average is 23.7x.
Genasys Inc.'s current EV/EBITDA is 44.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.0x.
Genasys Inc.'s return on equity (ROE) is -183.6%. The historical average is -51.9%.
Based on historical data, Genasys Inc. is trading at a P/E of -10.3x. Compare with industry peers and growth rates for a complete picture.
Genasys Inc. has 41.6% gross margin and -41.2% operating margin.
Key Metrics
Top Statement Risk
Liquidity and solvency pressure
Metrics are mathematically derived from official filings.
Valuation Reflects High Execution Risk
Based on reported figures, Genasys trades at a price-to-sales multiple of 1.89, which appears to discount the company's persistent negative earnings and the significant uncertainty surrounding its transition from a hardware-centric model to a recurring software revenue stream compared to more stable industry peers.
The current P/S multiple suggests that the market is pricing the company as a speculative growth play rather than a mature hardware manufacturer. Investors should monitor whether the recent revenue acceleration can translate into positive EBITDA, as the lack of a forward P/E ratio indicates that analysts remain skeptical of near-term profitability.
Capital Efficiency Remains Highly Volatile
According to recent financial statements, Genasys's ROIC has fluctuated wildly from -23.2% to 6.9% over the last ten quarters, indicating that the company has struggled to generate consistent returns on its invested capital while navigating a costly strategic pivot toward software-integrated emergency management systems.
The erratic nature of these returns suggests that capital allocation is currently dominated by the timing of lumpy government contracts rather than organic compounding. The recent positive ROIC of 6.9% in 2026Q2 warrants further investigation to determine if this is a sustainable trend or merely a temporary byproduct of favorable revenue recognition timing.
Working Capital Cycles Impede Liquidity
As reported in quarterly filings, the company's cash conversion cycle remains extended at 174 days in 2026Q2, driven by high inventory days of 211, which suggests significant friction in converting specialized acoustic hardware into cash compared to more efficient peers in the technology equipment sector.
The elevated DIO indicates that Genasys is holding substantial capital in unsold inventory, which creates a drag on liquidity. This inefficiency forces the company to rely more heavily on external financing, increasing the risk of dilution for shareholders if the inventory turnover does not improve significantly.
Debt Burden Strains Financial Flexibility
Based on the provided balance sheet data, the debt-to-equity ratio has climbed to 5.74 as of 2026Q2, signaling that the company's reliance on debt has increased substantially as its equity base has eroded due to persistent operating losses over the past several fiscal periods.
This level of leverage appears precarious for a company with negative net margins, as it limits the firm's ability to absorb operational shocks. Investors should monitor the interest coverage ratio, which remains inconsistent, to assess whether the company can continue to service its obligations without further dilutive capital raises.
Misapplication of Traditional P/E Multiples
The price-to-earnings ratio is frequently misapplied to Genasys, as it obscures the company's underlying transition toward a software-as-a-service model by focusing on GAAP losses that are heavily influenced by non-recurring R&D investments and the lumpy nature of government hardware procurement cycles.
Instead of P/E, investors should focus on the growth of Annual Recurring Revenue and the trend in gross margins, as these metrics better capture the success of the GEM platform pivot. Relying on P/E in this context may lead to an overly pessimistic view of the company's long-term value proposition.