Latest Ratios: P/E Ratio -7.6x · EV/EBITDA N/A · ROE N/A. (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 | $28.8B | $48M | $169M | $1.3B | $1.8B | $5.9B | $11.0B | $3.3B | — |
| Enterprise Value | $28.9B | $144M | $621M | $1.8B | $2.3B | $6.2B | $10.8B | $3.3B | — |
| P/E Ratio → | -7.63 | — | — | — | — | — | — | — | — |
| P/S Ratio | 436.62 | 0.72 | 2.24 | 18.80 | 43.33 | 183.32 | 789.47 | 262.20 | — |
| P/B Ratio | — | — | — | — | — | 29.58 | 74.05 | — | — |
| 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 | — | 2.18 | 8.23 | 26.28 | 57.23 | 192.53 | 774.56 | 260.82 | — |
| 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 | — | — | -34.1% | -104.2% | -148.1% | -44.3% | -78.9% | -32.2% | 6.4% |
| Operating Margin | -449.6% | -449.6% | -577.0% | -807.3% | -1087.0% | -671.7% | -622.7% | -496.9% | -0.2% |
| Net Profit Margin | -572.8% | -572.8% | -362.3% | -818.7% | -1095.7% | -745.0% | -2596.9% | -751.6% | -0.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -519.8% | -137.3% | -243.6% | — | -729.2% |
| ROA | -152.3% | -152.3% | -62.2% | -95.2% | -56.8% | -34.1% | -128.9% | -361.8% | -4.5% |
| ROIC | -140.1% | -140.1% | -123.6% | -101.1% | -64.3% | -74.3% | — | — | — |
| ROCE | -198.6% | -198.6% | -118.7% | -108.5% | -60.8% | -32.1% | -32.7% | -337.6% | -729.0% |
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 | — | — | — | — | — | 3.15 | 0.01 | — | 49.75 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | 0.10 |
| Net Debt / Equity | — | — | — | — | — | 1.49 | -1.40 | — | 32.34 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | 0.07 |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -6.16 | -6.16 | -15.32 | -50.55 | -39.13 | -116.97 | -124.48 | -43.40 | — |
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 | 0.42 | 0.42 | 4.05 | 4.18 | 7.15 | 21.68 | 30.19 | 2.81 | 0.11 |
| Quick Ratio | 0.37 | 0.37 | 3.80 | 4.04 | 7.04 | 21.41 | 29.97 | 2.54 | -5.90 |
| Cash Ratio | 0.17 | 0.17 | 3.01 | 3.46 | 6.30 | 20.31 | 29.27 | 2.28 | 0.11 |
| Asset Turnover | — | 0.50 | 0.21 | 0.14 | 0.06 | 0.04 | 0.03 | 0.24 | 23.87 |
| Inventory Turnover | — | — | 6.78 | 11.68 | 11.49 | 4.46 | 6.91 | 4.16 | 3.74 |
| Days Sales Outstanding | — | 32.95 | 179.97 | 165.30 | 285.23 | 294.19 | 215.35 | 48.57 | 77.48 |
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% | 4.6% | 4.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 4.6% | 4.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $597M | $31M | $26M | $24M | $23M | $22M | $22M | $22M |
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 LAZR stock.
Luminar Technologies, Inc.'s current P/E ratio is -7.6x. This places it at the 50th percentile of its historical range.
Based on historical data, Luminar Technologies, Inc. is trading at a P/E of -7.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Luminar Technologies, Inc. has -449.6% operating margin.
Key Metrics
Top Statement Risk
Critical liquidity and solvency
Metrics are mathematically derived from official filings.
Market Pricing Ignores Fundamental Erosion
As reported in recent financial statements, the company's price-to-sales ratio of 1.70 appears disconnected from its negative earnings trajectory, suggesting that investors are pricing the firm on speculative long-term option value rather than the immediate reality of its contracting revenue base and severe operational losses.
The current valuation multiple reflects a market that may be overestimating the probability of a successful transition to high-volume automotive series production. Given the lack of positive earnings or EBITDA, traditional valuation metrics are largely inapplicable, forcing investors to rely on speculative revenue multiples that may not account for the high risk of further equity dilution.
Capital Efficiency Remains Deeply Negative
Based on reported figures, the company's ROIC of -93.2% in 2025Q4 highlights a persistent inability to generate returns on invested capital, indicating that the massive R&D and infrastructure expenditures are currently failing to create economic value for shareholders as the firm struggles to reach a sustainable scale.
The trend in ROIC suggests that the company is effectively destroying capital with every dollar invested in its 1550nm LiDAR architecture. Without a clear path to positive margins, this decay in return on capital warrants significant caution, as it implies that the business model requires constant external funding to survive.
Working Capital Management Shows Instability
According to the company's reported figures, the cash conversion cycle has fluctuated wildly, reaching 103 days in 2025Q4, which reveals significant volatility in inventory and payables management as the firm attempts to navigate the complex transition from prototype development to full-scale automotive supply chain integration.
The erratic nature of the cash conversion cycle suggests that the company lacks the operational maturity to optimize its working capital. Investors should monitor whether these inefficiencies are structural or merely a temporary byproduct of the ongoing production ramp-up for major OEM partners.
Liquidity Buffer Nearing Critical Exhaustion
As indicated by the company's reported current ratio of 0.42 in 2025Q4, the firm's liquidity position has deteriorated to a precarious level, leaving it with minimal room to maneuver against its substantial operating losses and looming debt obligations without immediate access to additional capital.
The sharp decline in the quick ratio suggests that the company is increasingly dependent on external financing to cover its short-term liabilities. This liquidity crunch poses a severe risk to operational continuity, as the current cash reserves appear insufficient to sustain the business through the next phase of its growth cycle.
Order Book Metric Obscures Reality
As highlighted in recent financial disclosures, the company's reliance on the 'Order Book' metric is frequently misapplied by market participants, as it represents a non-GAAP management estimate of future contract value that may not materialize if OEM programs are delayed or canceled by automotive partners.
Investors should prioritize actual revenue recognition and cash flow generation over the 'Order Book' figure, which often obscures the true economic risk of the business. This metric is particularly misleading for a pre-scale hardware firm, as it fails to account for the high probability of program attrition in the automotive sector.