Latest Ratios: P/E Ratio -0.4x · EV/EBITDA N/A · ROE -83.6%. (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 | $3M | $4M | $7M | $4M | $9M | — | — | — |
| Enterprise Value | $-3383276 | $-2531193 | $5M | $150305 | $5M | — | — | — |
| P/E Ratio → | -0.41 | — | — | — | — | — | — | — |
| P/S Ratio | 1.18 | 1.50 | 4.50 | 3.85 | 13.56 | — | — | — |
| P/B Ratio | 0.35 | 0.44 | 0.81 | 0.80 | 2.22 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.95 | 2.89 | 0.13 | 8.21 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.3% | 21.3% | 13.1% | -10.4% | -8.5% | 21.5% | -30.3% | -60.4% |
| Operating Margin | -319.2% | -319.2% | -484.2% | -594.9% | -845.2% | -464.1% | -1145.7% | -2269.8% |
| Net Profit Margin | -285.2% | -285.2% | -474.6% | -578.2% | -861.2% | -469.8% | -1347.8% | -2269.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -83.6% | -83.6% | -106.0% | -139.1% | -268.5% | -1563.5% | — | — |
| ROA | -76.0% | -76.0% | -96.7% | -122.2% | -206.1% | -614.5% | -331.6% | — |
| ROIC | -141.2% | -141.2% | -153.6% | -582.3% | -917.7% | -1056.3% | — | — |
| ROCE | -93.4% | -93.4% | -107.8% | -141.6% | -259.5% | -1544.5% | — | — |
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 | — | — | — | — | 0.02 | 1.39 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.72 | -0.29 | -0.77 | -0.88 | 1.01 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | -2193.81 | -53.02 | -81.28 | -153.69 | — |
Net cash position: cash ($7M) 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 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.03 | 9.03 | 12.52 | 8.99 | 7.07 | 1.04 | 0.19 | — |
| Quick Ratio | 7.36 | 7.36 | 11.40 | 7.62 | 6.91 | 0.60 | 0.07 | — |
| Cash Ratio | 6.23 | 6.23 | 10.20 | 6.87 | 5.99 | 0.13 | 0.04 | — |
| Asset Turnover | — | 0.26 | 0.17 | 0.19 | 0.14 | 0.84 | 0.25 | — |
| Inventory Turnover | 1.20 | 1.20 | 1.71 | 1.48 | 7.56 | 1.97 | 0.83 | — |
| Days Sales Outstanding | — | 65.38 | 29.29 | 29.52 | 61.00 | 22.93 | — | — |
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 | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $4M | $1M | $525800 | $326448 | $262281 | $148014 | $99448 |
Liquidity depletion and dilution
According to current market data, LUCY trades at a price-to-sales ratio of 1.18, a valuation that appears disconnected from the company's persistent operating losses and lack of a clear path to profitability, suggesting investors are pricing in speculative growth rather than fundamental earnings power.
The absence of a positive P/E ratio and the reliance on P/S multiples highlight the company's status as a speculative growth play rather than a value-oriented investment. Investors should monitor whether this valuation can be sustained if revenue growth fails to translate into improved operating leverage in future quarters.
As reported in financial statements, LUCY's ROIC has remained deeply negative, reaching -53.9% in 2026Q1, which indicates that the company is currently destroying shareholder value rather than compounding it, a trend that has persisted throughout the last ten quarters of operations.
The consistently negative ROIC suggests that the capital deployed into the business is failing to generate adequate returns, likely due to high fixed costs and inefficient unit economics. This trend warrants investigation into whether the company's current business model can ever achieve the scale necessary to reach a positive return on invested capital.
Based on the provided figures, the company's cash conversion cycle has been highly volatile, peaking at 233 days in 2025Q3, which suggests significant challenges in managing inventory and collecting receivables compared to industry standards for consumer-facing medical instrument and eyewear firms.
The high DIO, which reached 377 days in 2025Q1, indicates that inventory is moving slowly, potentially leading to obsolescence risks given the rapid pace of technological change in smart eyewear. Investors should monitor these efficiency metrics as they reflect the underlying friction in the company's supply chain and distribution strategy.
As reported in financial statements, the company's current ratio has fluctuated significantly, dropping from 18.70 in 2025Q2 to 8.02 in 2026Q1, signaling that while the firm maintains a nominal liquidity cushion, its ability to fund operations under stress is rapidly diminishing due to persistent cash burn.
While the current ratio appears high, it is heavily influenced by inventory levels that may not be easily liquidated in a stress scenario. The rapid contraction of this ratio suggests that the company's liquidity position is becoming increasingly vulnerable to its ongoing operating losses and lack of internal cash generation.
The most commonly misapplied metric for LUCY is the year-over-year revenue growth rate, which obscures the underlying unit economic reality that each incremental dollar of revenue currently requires disproportionate operating spend, effectively masking the company's structural inability to achieve profitable scale.
Analysts should prioritize contribution margin and customer acquisition cost efficiency over top-line growth figures to better understand the business's long-term viability. Relying solely on revenue growth ignores the reality that the company's current cost structure is not yet optimized for sustainable, profitable operations.
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 LUCY stock.
Innovative Eyewear, Inc.'s current P/E ratio is -0.4x. This places it at the 50th percentile of its historical range.
Innovative Eyewear, Inc.'s return on equity (ROE) is -83.6%. The historical average is -149.3%.
Based on historical data, Innovative Eyewear, Inc. is trading at a P/E of -0.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Innovative Eyewear, Inc. has 21.3% gross margin and -319.2% operating margin.