Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE -278.2%. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $1M | $269M | $181M | — | — | — |
| Enterprise Value | $6M | $273M | $198M | — | — | — |
| P/E Ratio → | -0.16 | — | — | — | — | — |
| P/S Ratio | 0.12 | 26.58 | 21.59 | — | — | — |
| P/B Ratio | 0.22 | 2.74 | 229.12 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 27.02 | 23.58 | — | — | — |
| EV / EBITDA | — | — | — | — | — | — |
| EV / EBIT | — | — | 60.87 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| Gross Margin | 46.1% | 46.1% | 25.3% | 27.0% | 26.6% | 27.0% |
| Operating Margin | -122.1% | -122.1% | -177.6% | -141.3% | -142.3% | -95.7% |
| Net Profit Margin | -1360.9% | -1360.9% | 8.5% | -461.6% | -147.6% | -87.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -278.2% | -278.2% | 89.7% | — | — | -138.6% |
| ROA | -201.4% | -201.4% | 2.6% | -135.7% | -46.4% | -29.0% |
| ROIC | -15.4% | -15.4% | -73.6% | -51.7% | -45.4% | -30.8% |
| ROCE | -21.7% | -21.7% | -105.1% | — | -103.0% | -47.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 21.70 | — | — | 2.74 |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.05 | 21.13 | — | — | 2.70 |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | -7.52 | -7.52 | 1.28 | -13.56 | -3.69 | -1.71 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.31 | 0.31 | 0.28 | 0.08 | 0.25 | 0.71 |
| Quick Ratio | 0.12 | 0.12 | 0.10 | 0.04 | 0.08 | 0.17 |
| Cash Ratio | 0.03 | 0.03 | 0.03 | 0.00 | 0.01 | 0.03 |
| Asset Turnover | — | 0.09 | 0.30 | 0.30 | 0.30 | 0.33 |
| Inventory Turnover | 3.32 | 3.32 | 2.54 | 2.11 | 1.67 | 1.40 |
| Days Sales Outstanding | — | 12.54 | 27.75 | 33.06 | 21.73 | 9.89 |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.2% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.2% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $9M | $263680 | $232044 | $232044 | $232044 |
Imminent liquidity shortfall
Based on reported financial data, IPST trades at a P/S multiple of 0.12, which, according to recent market filings, suggests that investors are heavily discounting the company's future revenue potential due to the extreme volatility in its core distilling operations and the speculative nature of its digital treasury.
The P/B ratio of 0.22 indicates that the market values the company at a significant discount to its book value, reflecting deep skepticism regarding the recoverability of its asset base. This valuation profile is consistent with a distressed entity where the market is pricing in a high probability of equity dilution or restructuring rather than future earnings growth.
As reported in historical financial statements, IPST has consistently generated negative ROIC, with figures reaching -71.3% in 2026Q1, indicating that the company is currently destroying shareholder value rather than compounding it through its capital-intensive distilling and tribal partnership expansion efforts.
The persistent negative returns on invested capital suggest that the company's fixed-cost base, particularly its investment in physical tasting rooms and barreled inventory, is not generating sufficient returns to cover the cost of capital. Investors should monitor whether management can pivot toward a more asset-light model, as the current trajectory of capital efficiency appears unsustainable.
According to the company's quarterly filings, the cash conversion cycle remains deeply negative, with DIO peaking at 518 days in 2023Q4, which highlights the significant capital trapped in the long-term aging process of spirits and the resulting pressure on the company's limited cash reserves.
The extreme length of the DIO relative to industry peers suggests that IPST is carrying a heavy inventory burden that is not turning over quickly enough to support its operating expenses. This inefficiency forces the company to rely on external financing, as the cash tied up in barrels is effectively unavailable for immediate operational needs.
Based on the most recent quarterly data, the current ratio of 0.43 and a quick ratio of 0.26 indicate that IPST lacks the liquid assets necessary to cover its short-term obligations, leaving the company highly vulnerable to any disruption in its revenue streams or access to capital markets.
The reliance on inventory to meet short-term liabilities is problematic given the illiquid nature of aged spirits and the company's history of negative operating cash flow. This liquidity profile warrants extreme caution, as the company appears to have little margin for error in its day-to-day operations.
As indicated by the company's unique business model, the use of traditional EV/EBITDA multiples is fundamentally misapplied to IPST, as the company's current negative operating margins and reliance on non-operating digital assets render standard earnings-based valuation metrics largely irrelevant for assessing its true enterprise value.
Investors should instead focus on the 'Tribal Beverage Network' expansion rate and the cash burn rate, as these metrics better capture the company's actual operational progress. Relying on traditional beverage sector multiples obscures the reality that IPST is currently operating as a venture-stage entity with significant regulatory and digital asset risks.
Includes 30+ ratios · 5 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying IPST stock.
IP Strategy Holdings, Inc.'s current P/E ratio is -0.2x. This places it at the 50th percentile of its historical range.
IP Strategy Holdings, Inc.'s return on equity (ROE) is -278.2%. The historical average is -109.0%.
Based on historical data, IP Strategy Holdings, Inc. is trading at a P/E of -0.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
IP Strategy Holdings, Inc. has 46.1% gross margin and -122.1% operating margin.