Latest Ratios: P/E Ratio 63.5x · EV/EBITDA -14.0x · ROE 1.6%. (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 | $38M | $37M | $33M | $33M | $22M | $61M | $65M | $75M | $30M | $17M | $13M |
| Enterprise Value | $-3771304 | $-4679408 | $-8428677 | $-7768967 | $245589 | $35M | $48M | $63M | $27M | $4M | $11M |
| P/E Ratio → | 63.45 | 52.27 | 76.74 | 122.07 | — | 4.16 | 66.00 | 10.64 | 21.03 | 140.44 | 83.67 |
| P/S Ratio | 9.05 | 8.84 | 14.90 | 19.02 | — | 42.05 | 2.10 | 2.34 | 1.20 | 0.76 | 0.64 |
| P/B Ratio | 0.98 | 0.81 | 0.80 | 0.81 | 0.56 | 1.11 | 1.65 | 2.14 | 1.09 | 0.68 | 0.96 |
| P/FCF | 539.18 | 526.21 | 37.94 | 85.37 | — | 240.35 | 23.49 | 49.68 | 22.33 | 31.00 | 126.24 |
| P/OCF | 539.18 | 526.21 | 37.94 | 85.37 | — | 44.98 | 20.49 | 28.01 | 17.96 | 25.04 | 48.14 |
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 | — | -1.12 | -3.79 | -4.50 | — | 23.93 | 1.53 | 1.96 | 1.08 | 0.17 | 0.51 |
| EV / EBITDA | -13.97 | -17.33 | — | — | — | — | 24.60 | 15.91 | 13.91 | 4.14 | 17.36 |
| EV / EBIT | -15.15 | -18.79 | -12.06 | -12.03 | — | — | 36.35 | 16.00 | 18.70 | 13.77 | 2120.79 |
| EV / FCF | — | -66.85 | -9.64 | -20.18 | — | 136.78 | 17.16 | 41.61 | 20.07 | 6.91 | 100.04 |
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 | 72.3% | 72.3% | 53.0% | 53.9% | 131.2% | 50.8% | 35.1% | 39.2% | 38.8% | 34.6% | 33.7% |
| Operating Margin | 6.0% | 6.0% | -61.4% | -75.5% | 76.4% | -243.5% | 4.5% | 10.8% | 5.7% | 1.2% | -0.8% |
| Net Profit Margin | 16.5% | 16.5% | 19.4% | 15.6% | 111.7% | 1012.3% | 3.1% | 22.0% | 5.6% | 0.5% | 0.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 1.6% | 1.6% | 1.1% | 0.7% | -6.4% | 31.0% | 2.6% | 22.6% | 5.4% | 0.6% | 1.1% |
| ROA | 1.5% | 1.5% | 1.0% | 0.7% | -5.9% | 28.0% | 2.3% | 20.2% | 4.9% | 0.5% | 0.9% |
| ROIC | 10.1% | 10.1% | — | -11.4% | -6.7% | -10.4% | 4.7% | 11.0% | 6.0% | 1.8% | -1.3% |
| ROCE | 0.6% | 0.6% | -3.3% | -3.2% | -4.3% | -7.3% | 3.8% | 11.0% | 5.5% | 1.4% | -1.2% |
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 | — | — | — | 0.00 | 0.00 | 0.00 | 0.02 | 0.01 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | 0.37 | 0.08 | — | — | — |
| Net Debt / Equity | — | -0.91 | -1.01 | -1.00 | -0.56 | -0.48 | -0.44 | -0.35 | -0.11 | -0.53 | -0.20 |
| Net Debt / EBITDA | -153.76 | -153.76 | — | — | — | — | -9.07 | -3.08 | -1.56 | -14.43 | -4.55 |
| Debt / FCF | — | -593.06 | -47.58 | -105.55 | — | -103.57 | -6.33 | -8.07 | -2.25 | -24.09 | -26.21 |
| Interest Coverage | — | — | — | — | — | — | 119.55 | — | — | 25.09 | 0.23 |
Net cash position: cash ($42M) exceeds total debt ($0)
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 | 50.63 | 50.63 | 47.17 | 87.69 | 67.02 | 12.62 | 9.94 | 6.69 | 9.95 | 9.35 | 4.68 |
| Quick Ratio | 50.30 | 50.30 | 46.88 | 87.26 | 66.57 | 12.55 | 8.39 | 5.29 | 8.33 | 7.87 | 3.36 |
| Cash Ratio | 45.41 | 45.41 | 46.02 | 85.93 | 64.89 | 9.61 | 7.10 | 4.18 | 7.01 | 6.49 | 2.01 |
| Asset Turnover | — | 0.09 | 0.05 | 0.04 | -0.07 | 0.02 | 0.72 | 0.81 | 0.83 | 0.81 | 1.26 |
| Inventory Turnover | 3.89 | 3.89 | 3.92 | 3.90 | 3.16 | 2.62 | 3.83 | 3.22 | 3.41 | 3.78 | 3.81 |
| Days Sales Outstanding | — | 50.08 | 80.84 | 75.20 | -73.98 | 169.63 | 48.28 | 50.86 | 49.81 | 55.28 | 61.22 |
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 | — | — | — | — | — | — | — | — | — | 0.0% | 0.5% |
| Payout Ratio | — | — | — | — | — | — | — | — | — | 5.1% | 41.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.6% | 1.9% | 1.3% | 0.8% | — | 24.0% | 1.5% | 9.4% | 4.8% | 0.7% | 1.2% |
| FCF Yield | 0.2% | 0.2% | 2.6% | 1.2% | — | 0.4% | 4.3% | 2.0% | 4.5% | 3.2% | 0.8% |
| Buyback Yield | 1.0% | 1.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.1% |
| Total Shareholder Yield | 1.0% | 1.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.5% |
| Shares Outstanding | — | $6M | $6M | $5M | $5M | $5M | $5M | $5M | $5M | $3M | $3M |
Inefficient capital deployment
Based on reported figures, LGL's P/E ratio of 61.91 appears significantly elevated compared to industry peers, yet this metric is heavily skewed by non-operating interest income rather than core hardware earnings, warranting caution for investors relying on standard valuation screens to assess the company's true market worth.
The high P/E multiple reflects the market's struggle to price a stub entity where the cash balance dominates the enterprise value. Investors should monitor the EV/EBITDA ratio, which is currently negative, indicating that the operating business is not yet generating the scale required to justify its valuation through traditional earnings-based metrics.
As reported in financial statements, LGL's ROIC has frequently dipped into negative territory, reaching -44.2% in 2026Q1, which suggests that the company is currently failing to generate a positive return on its invested capital base due to the persistent drag of corporate overhead on a small revenue stream.
The decay in return metrics highlights the difficulty of maintaining a public company structure with such a limited operational footprint. Without a significant increase in revenue scale, the company appears unlikely to achieve a positive return on capital, as the fixed costs of operations continue to outweigh the gross profit generated by its specialized instruments.
According to recent SEC filings, LGL's cash conversion cycle has shown extreme volatility, swinging from 85 days in 2023Q4 to -8 days in 2026Q1, which underscores the highly irregular nature of project-based billing and the company's reliance on specific contract milestones to manage its working capital requirements.
The erratic DSO and DIO trends suggest that the company lacks the consistent inventory turnover seen in more mature hardware firms. This volatility implies that the firm's liquidity is highly sensitive to the timing of individual customer payments, making short-term operational forecasting difficult for external observers.
Based on the company's reported figures, LGL maintains a current ratio of 39.24 as of 2026Q1, a figure that is artificially inflated by a massive cash position that far exceeds the firm's minimal liabilities, effectively masking the underlying fragility of its core hardware business model.
While the balance sheet is technically a fortress, the liquidity is not a product of operational success but rather a byproduct of the MtronPTI spin-off. Investors should monitor whether this cash is deployed into value-accretive projects or if it remains stagnant, as the current liquidity position provides a safety net that may discourage necessary operational discipline.
The P/E ratio is the most commonly misapplied metric for LGL, as it obscures the fact that a significant portion of the company's net income is derived from interest on cash reserves rather than the underlying hardware business, leading to a potentially misleading assessment of operational performance.
Analysts should instead focus on EV/Sales or adjusted operating margins to strip away the distorting effects of the company's cash-heavy balance sheet. Relying on P/E ratios in this context risks conflating a capital allocation vehicle with an operating technology firm, which may lead to incorrect conclusions regarding the company's long-term growth prospects.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying LGL stock.
The LGL Group, Inc.'s current P/E ratio is 63.5x. The historical average is 44.6x. This places it at the 65th percentile of its historical range.
The LGL Group, Inc.'s current EV/EBITDA is -14.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 13.9x.
The LGL Group, Inc.'s return on equity (ROE) is 1.6%. The historical average is -14.1%.
Based on historical data, The LGL Group, Inc. is trading at a P/E of 63.5x. This is at the 65th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The LGL Group, Inc. has 72.3% gross margin and 6.0% operating margin.