Latest Ratios: P/E Ratio -15.9x · EV/EBITDA N/A · ROE -78.6%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $189M | $251M | $325M | $270M | $224M | $430M | — | — |
| Enterprise Value | $208M | $270M | $345M | $288M | $238M | $325M | — | — |
| P/E Ratio → | -15.95 | — | — | — | — | — | — | — |
| P/S Ratio | 1.05 | 1.39 | 1.82 | 1.54 | 1.33 | 2.61 | — | — |
| P/B Ratio | 30.43 | 39.60 | 13.34 | 8.89 | 5.17 | 5.04 | — | — |
| P/FCF | 13.65 | 18.07 | 27.79 | — | — | — | — | — |
| P/OCF | 13.03 | 17.25 | 26.60 | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.49 | 1.93 | 1.64 | 1.41 | 1.97 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — |
| EV / FCF | — | 19.42 | 29.45 | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.6% | 70.6% | 66.6% | 64.1% | 63.3% | 62.2% | 60.4% | 63.4% |
| Operating Margin | -4.3% | -4.3% | -13.5% | -22.1% | -33.4% | -19.8% | -7.0% | -2.9% |
| Net Profit Margin | -6.7% | -6.7% | -17.5% | -26.5% | -40.6% | -36.0% | -48.8% | -16.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -78.6% | -78.6% | -114.5% | -125.9% | -106.5% | -69.6% | — | — |
| ROA | -7.0% | -7.0% | -17.2% | -23.8% | -31.9% | -37.8% | -71.8% | -21.4% |
| ROIC | -16.9% | -16.9% | -39.2% | -54.7% | -224.7% | — | — | — |
| ROCE | -13.2% | -13.2% | -29.5% | -42.7% | -50.7% | -49.1% | -404.9% | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 7.32 | 7.32 | 2.15 | 1.81 | 1.36 | 0.45 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | 30.28 |
| Net Debt / Equity | — | 2.97 | 0.80 | 0.60 | 0.33 | -1.23 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | 14.77 |
| Debt / FCF | — | 1.36 | 1.66 | — | — | — | 8.35 | — |
| Interest Coverage | -3.23 | -3.23 | -6.78 | -9.25 | -17.94 | -2.43 | -0.96 | -2.04 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.72 | 0.72 | 1.20 | 1.12 | 1.22 | 1.79 | 0.64 | 0.56 |
| Quick Ratio | 0.72 | 0.72 | 1.20 | 1.12 | 1.22 | 1.70 | 0.55 | 0.49 |
| Cash Ratio | 0.41 | 0.41 | 0.80 | 0.69 | 0.79 | 1.47 | 0.33 | 0.35 |
| Asset Turnover | — | 1.10 | 0.99 | 0.95 | 0.82 | 0.74 | 1.32 | 1.34 |
| Inventory Turnover | — | — | — | — | — | 6.86 | 5.79 | 7.11 |
| Days Sales Outstanding | — | 33.01 | 40.80 | 48.57 | 62.24 | 38.73 | 51.93 | 40.60 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | 7.3% | 5.5% | 3.6% | — | — | — | — | — |
| Buyback Yield | 13.8% | 10.4% | 0.9% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 13.8% | 10.4% | 0.9% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $153M | $148M | $138M | $130M | $128M | $126M | $126M |
Liquidity and solvency pressure
According to recent market data, Kaltura trades at a P/S ratio of 1.07, a multiple that appears to reflect the market's skepticism regarding the company's ability to return to meaningful top-line growth while navigating persistent GAAP losses and a highly constrained capital structure.
The current valuation suggests that investors are pricing the company as a distressed asset rather than a high-growth SaaS platform. Given the lack of a positive forward P/E and the compression of growth, the current P/S multiple may be an accurate reflection of the market's limited confidence in the firm's long-term earnings potential.
Based on reported financial statements, Kaltura's ROIC has trended into negative territory, reaching -14.0% in 2026Q1, which indicates that the company is currently destroying shareholder value rather than compounding it through its existing investments in video infrastructure and platform development.
The persistent negative ROIC suggests that the company's heavy R&D and infrastructure spending are not generating sufficient returns to cover the cost of capital. This trend warrants investigation into whether the current business model is structurally capable of achieving positive returns without a significant reduction in the asset base.
As reported in recent filings, Kaltura's asset turnover ratio has remained stagnant at approximately 0.25 to 0.28, suggesting that the company is struggling to generate sufficient revenue from its existing asset base compared to industry peers who maintain higher velocity in their software deployments.
The low asset turnover ratio implies that the company's infrastructure-heavy model is not scaling efficiently. Investors should monitor whether the company can improve its DSO and overall working capital management to free up cash, as the current cycle appears to be a drag on liquidity.
Based on the company's latest quarterly filings, the debt-to-equity ratio has surged to 9.59, a significant escalation that highlights the company's increasing reliance on leverage to fund operations as its equity base continues to erode due to ongoing net losses.
This level of leverage is particularly concerning given the company's negative interest coverage ratio, which suggests that debt service may become an unsustainable burden. The firm's reliance on debt in a high-interest environment appears to be a primary driver of its current financial vulnerability.
While the Price-to-Sales ratio is commonly used to value SaaS companies, it is a misleading metric for Kaltura because it ignores the company's high debt load and negative operating margins, which fundamentally alter the firm's risk profile compared to higher-growth, debt-free software peers.
Investors should instead focus on EV/EBITDA or P/FCF, as these metrics better account for the company's capital structure and cash-burning nature. Relying on P/S alone obscures the reality that the company's revenue growth is currently insufficient to support its debt obligations and operational costs.
Includes 30+ ratios · 7 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying KLTR stock.
Kaltura, Inc.'s current P/E ratio is -15.9x. This places it at the 50th percentile of its historical range.
Kaltura, Inc.'s return on equity (ROE) is -78.6%. The historical average is -99.0%.
Based on historical data, Kaltura, Inc. is trading at a P/E of -15.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kaltura, Inc. has 70.6% gross margin and -4.3% operating margin.