Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE -182.1%. (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 | $27M | $226M | $274M | $486M | $390M | $805M | $752M | $80M | $52M | $119M | $65M |
| Enterprise Value | $31M | $231M | $272M | $456M | $385M | $729M | $739M | $76M | $38M | $102M | $50M |
| P/E Ratio → | -0.22 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 22.42 | 187.22 | 58.45 | 66.99 | 587.35 | 321.97 | 243.46 | 9.02 | 2.96 | 10.89 | 4.44 |
| P/B Ratio | 0.38 | 4.07 | 5.63 | 5.08 | 4.35 | 7.14 | 83.50 | — | 12.68 | 24.38 | 8.76 |
| 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 190.86 | 57.84 | 62.84 | 580.06 | 291.42 | 239.23 | 8.59 | 2.19 | 9.34 | 3.41 |
| 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -1435.4% | -1435.4% | -60.3% | 61.8% | 84.9% | 99.9% | 54.8% | 3.6% | 39.6% | 9.3% | 29.7% |
| Operating Margin | -5743.8% | -5743.8% | -1821.1% | -1224.3% | -8116.0% | -1754.8% | -440.6% | -297.9% | -154.6% | -222.5% | -111.5% |
| Net Profit Margin | -7862.7% | -7862.7% | -2063.8% | -1141.2% | -7995.6% | -1728.0% | -441.2% | -298.0% | -154.8% | -222.6% | -111.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -182.1% | -182.1% | -134.1% | -89.3% | -52.4% | -71.0% | -541.9% | -37832.9% | -606.7% | -392.9% | -450.0% |
| ROA | -84.7% | -84.7% | -77.3% | -67.7% | -43.3% | -57.1% | -83.0% | -151.9% | -103.4% | -97.4% | -96.5% |
| ROIC | -98.3% | -98.3% | -115.0% | -88.5% | -66.7% | -203.5% | — | — | — | — | — |
| ROCE | -93.6% | -93.6% | -92.8% | -83.6% | -48.7% | -68.2% | -325.8% | -2379.5% | -376.3% | -215.6% | -171.4% |
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 | 0.66 | 0.66 | 1.06 | 0.16 | 0.17 | 0.06 | 0.42 | — | 0.01 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.08 | -0.06 | -0.31 | -0.05 | -0.68 | -1.45 | — | -3.33 | -3.49 | -2.03 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -4.13 | -4.13 | -16.87 | -1103.86 | -855.31 | — | — | — | — | — | — |
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 | 2.69 | 2.69 | 1.79 | 4.23 | 7.96 | 9.58 | 1.75 | 0.54 | 0.97 | 1.15 | 2.39 |
| Quick Ratio | 2.67 | 2.67 | 1.74 | 4.04 | 7.80 | 9.44 | 1.75 | 0.53 | 0.91 | 0.93 | 2.22 |
| Cash Ratio | 2.48 | 2.48 | 1.63 | 3.60 | 7.24 | 9.26 | 1.68 | 0.40 | 0.76 | 0.85 | 2.09 |
| Asset Turnover | — | 0.01 | 0.04 | 0.06 | 0.01 | 0.02 | 0.15 | 0.75 | 0.76 | 0.37 | 0.73 |
| Inventory Turnover | 24.90 | 24.90 | 3.28 | 0.72 | 0.05 | 0.00 | — | 44.60 | 9.59 | 2.17 | 8.41 |
| Days Sales Outstanding | — | 14.20 | 71.97 | 47.72 | — | — | — | 44.32 | 30.33 | 23.29 | 6.06 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $18M | $14M | $12M | $11M | $11M | $9M | $7M | $6M | $5M | $3M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying MVIS stock.
MicroVision, Inc.'s current P/E ratio is -0.2x. This places it at the 50th percentile of its historical range.
MicroVision, Inc.'s return on equity (ROE) is -182.1%. The historical average is -158.3%.
Based on historical data, MicroVision, 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.
MicroVision, Inc. has -1435.4% gross margin and -5743.8% operating margin.
Key Metrics
Top Statement Risk
Imminent liquidity and dilution
Metrics are mathematically derived from official filings.
Speculative Premium Overrides Fundamental Reality
According to current market data, MVIS trades at a price-to-sales multiple of 79.88, a valuation that appears disconnected from the company's 74.28% year-over-year revenue decline and suggests investors are pricing in extreme optionality regarding future automotive design wins rather than current commercial performance.
The elevated P/S ratio relative to the broader technology sector implies that the market is assigning significant value to the company's intellectual property portfolio rather than its ability to generate near-term cash flow. This valuation premium warrants caution, as it leaves the stock highly susceptible to sharp corrections should management fail to secure high-volume OEM contracts in the coming quarters.
Persistent Erosion of Invested Capital
As reported in financial statements, the company's ROIC has remained consistently negative, reaching -33.1% in 2026Q1, which indicates that the firm is currently destroying shareholder value rather than compounding it through its heavy investment in MEMS-based lidar research and development.
The inability to generate a positive return on invested capital highlights the structural challenge of maintaining a high-cost R&D lab without a corresponding revenue scale. Investors should monitor whether the recent integration of Ibeo's software assets can eventually improve capital efficiency, though current trends suggest that the company remains far from achieving a sustainable return threshold.
Working Capital Volatility Signals Instability
Based on the provided quarterly data, the cash conversion cycle has fluctuated wildly, ranging from 16 days to 987 days, which suggests that the company lacks a stable operational rhythm and struggles to manage its inventory and accounts payable effectively during this transition period.
The extreme variability in the cash conversion cycle reflects the project-based nature of the company's revenue, where prototype sales and NRE fees create lumpy cash inflows. This lack of predictability in working capital management complicates the forecasting of liquidity needs and underscores the operational risks inherent in the current business model.
Rising Debt Burden Amidst Scarcity
As indicated by the company's reported figures, the debt-to-equity ratio has climbed to 1.35 in 2026Q1, reflecting an increasing reliance on external financing to sustain operations as the company's internal cash generation remains insufficient to cover its ongoing R&D and administrative expenses.
The rising leverage profile is particularly concerning given the negative interest coverage ratio, which suggests that the company's ability to service its debt is becoming increasingly strained. This trend indicates that the firm may face significant refinancing risks or be forced into further dilutive equity raises if it cannot achieve a revenue inflection point soon.
Misapplication of Price-to-Sales Multiples
The price-to-sales ratio is frequently misapplied to this business model, as it obscures the fact that the company's current revenue is largely non-recurring and project-based, failing to capture the underlying structural burn rate that defines the firm's true financial health.
Analysts should instead focus on the cash burn rate relative to the remaining liquidity runway, as this provides a more accurate assessment of the company's survival probability. Relying on P/S multiples in a pre-commercial phase risks ignoring the reality that the company is essentially a venture-stage entity masquerading as a mature hardware manufacturer.