Latest Ratios: P/E Ratio -1.1x · EV/EBITDA N/A · ROE -86.6%. (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 | $81M | $171M | $372M | $373M | $531M | $652M | $272M | — | — |
| Enterprise Value | $137M | $226M | $376M | $379M | $510M | $628M | $224M | — | — |
| P/E Ratio → | -1.06 | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.47 | 3.10 | 15.33 | 17.87 | 88.19 | 119.31 | — | — | — |
| P/B Ratio | 0.93 | 2.19 | 4.71 | 2.43 | 2.77 | 2.18 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.11 | 15.50 | 18.17 | 84.57 | 114.98 | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.4% | 23.4% | -4.8% | -55.6% | -145.4% | -91.9% | 168.4% | -26.1% | 14.5% |
| Operating Margin | -123.0% | -123.0% | -420.0% | -635.2% | -2212.9% | -2884.2% | 875.5% | -4410.0% | -90743.5% |
| Net Profit Margin | -123.1% | -123.1% | -390.5% | -591.4% | -2105.4% | -2809.3% | 870.5% | -4273.1% | -90967.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -86.6% | -86.6% | -81.6% | -71.5% | -51.7% | -409.2% | — | — | -784.3% |
| ROA | -50.1% | -50.1% | -53.9% | -52.0% | -43.5% | -76.8% | -83.0% | -87.1% | -183.5% |
| ROIC | -46.9% | -46.9% | -63.0% | -60.3% | -44.9% | -5962.7% | — | — | — |
| ROCE | -64.1% | -64.1% | -71.2% | -65.5% | -50.5% | -87.5% | -100.0% | -117.8% | -638.6% |
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 | 0.83 | 0.83 | 0.37 | 0.21 | 0.18 | — | — | — | 0.08 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.72 | 0.05 | 0.04 | -0.11 | -0.08 | — | — | -2.50 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | -525.80 |
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 | 2.87 | 2.87 | 2.98 | 4.31 | 5.78 | 12.67 | 3.25 | 7.61 | 1.05 |
| Quick Ratio | 2.76 | 2.76 | 2.91 | 4.26 | 5.65 | 12.47 | 3.13 | 7.51 | 0.99 |
| Cash Ratio | 2.30 | 2.30 | 2.45 | 3.90 | 5.49 | 12.27 | 2.81 | 7.31 | 0.85 |
| Asset Turnover | — | 0.40 | 0.18 | 0.10 | 0.02 | 0.02 | -0.13 | 0.01 | 0.00 |
| Inventory Turnover | 12.61 | 12.61 | 13.35 | 17.39 | 3.49 | 2.46 | 2.96 | 1.48 | 0.05 |
| Days Sales Outstanding | — | 66.11 | 92.53 | 129.30 | 143.86 | 60.17 | -97.68 | 236.61 | 347.34 |
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 | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — | — |
| Shares Outstanding | — | $200M | $221M | $147M | $135M | $103M | $19M | $4M | $130M |
Includes 30+ ratios · 8 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying INVZ stock.
Innoviz Technologies Ltd.'s current P/E ratio is -1.1x. This places it at the 50th percentile of its historical range.
Innoviz Technologies Ltd.'s return on equity (ROE) is -86.6%. The historical average is -140.1%.
Based on historical data, Innoviz Technologies Ltd. is trading at a P/E of -1.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Innoviz Technologies Ltd. has 23.4% gross margin and -123.0% operating margin.
Key Metrics
Top Statement Risk
Imminent liquidity and solvency
Market Valuation Reflects Execution Skepticism
As reported in financial statements, the company's P/S ratio of 2.30 suggests that investors are heavily discounting future revenue potential, likely due to the extreme uncertainty surrounding the conversion of the current order book into realized cash flow compared to broader automotive technology peers.
The negative P/E ratio and lack of a meaningful EV/EBITDA multiple highlight that the market is currently pricing the firm as a speculative venture rather than a mature industrial entity. This valuation appears to reflect a deep-seated concern that the company's technological milestones may not translate into the high-volume, high-margin commercial success required to justify its current market capitalization.
Capital Efficiency Remains Deeply Negative
Based on the company's reported figures, the ROIC of -17.8% in 2026Q1 indicates that the firm is currently destroying shareholder value with every dollar of capital deployed, a trend that has persisted throughout the last ten quarters of intensive research and development spending.
The persistent negative returns on invested capital suggest that the company has yet to achieve the necessary scale to offset its heavy fixed-cost base. Investors should monitor whether the transition to the InnovizTwo platform can eventually drive a pivot toward positive returns, though current data provides little evidence of such an inflection.
Working Capital Cycles Indicate Strain
According to recent SEC filings, the cash conversion cycle has fluctuated wildly, reaching 37 days in 2026Q1, which reflects the inherent difficulty of managing inventory and receivables in a business model heavily dependent on lumpy, project-based milestones with major automotive original equipment manufacturers.
The volatility in the cash conversion cycle suggests that the company lacks the leverage to dictate favorable payment terms with its customers or suppliers. This operational inefficiency, combined with high days sales outstanding, may indicate that the company is forced to carry significant working capital burdens that further strain its already limited liquidity.
Rising Debt Amidst Capital Scarcity
As indicated by the financial data, the debt-to-equity ratio has climbed to 0.58 in 2026Q1, signaling an increasing reliance on external financing to sustain operations as the company's internal cash generation remains insufficient to cover its ongoing research and development obligations.
The lack of meaningful interest coverage ratios suggests that the company's ability to service its debt is highly dependent on continued access to capital markets. Any tightening in credit conditions or further delays in OEM production timelines could significantly exacerbate the company's solvency risk, warranting close monitoring by stakeholders.
Order Book Misleads Valuation Expectations
Based on the provided data, the 'Order Book' metric is frequently misapplied by market participants as a proxy for near-term revenue, obscuring the reality that these figures are non-GAAP projections subject to significant timing risks and potential cancellations by automotive original equipment manufacturers.
Analysts should instead focus on the cash burn rate and the actual conversion of NRE milestones into realized cash flow, as these metrics provide a more accurate assessment of the company's survival probability. Relying on the order book as a valuation anchor ignores the high probability that projected volumes may never materialize in the current, volatile automotive cycle.