Latest Ratios: P/E Ratio 62.9x · EV/EBITDA N/A · ROE 2.4%. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $89M | $77M | $84M | — | — | — |
| Enterprise Value | $89M | $77M | $83M | — | — | — |
| P/E Ratio → | 62.88 | 65.65 | 33400.00 | — | — | — |
| P/S Ratio | — | — | — | — | — | — |
| P/B Ratio | 1.06 | 1.11 | 1.23 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — |
| EV / EBITDA | — | — | 1280.55 | — | — | — |
| EV / EBIT | — | — | 1280.55 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | 2.4% | 2.4% | 0.0% | — | — | — |
| ROA | 2.3% | 2.3% | 0.0% | -82.6% | -107.4% | -27.7% |
| ROIC | -0.7% | -0.7% | -0.5% | -135.6% | -119.6% | — |
| ROCE | -0.9% | -0.9% | -0.7% | — | — | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | — | — | — |
| Debt / EBITDA | — | — | 0.18 | — | — | — |
| Net Debt / Equity | — | -0.00 | -0.01 | — | — | — |
| Net Debt / EBITDA | — | — | -14.54 | — | — | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | -130.54 | -130.54 | 59.57 | — | — | — |
Net cash position: cash ($287601) exceeds total debt ($11730)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.48 | 0.48 | 2.63 | 0.00 | 0.00 | — |
| Quick Ratio | 0.48 | 0.48 | 2.63 | 0.00 | 0.00 | — |
| Cash Ratio | 0.36 | 0.36 | 2.14 | 0.00 | 0.00 | — |
| Asset Turnover | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | 1.6% | 1.5% | 0.0% | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $7M | $8M | $2M | $2M | $2M |
Imminent capital depletion risk
According to reported financial data, NOEMU trades at a P/E of 62.88, a multiple that appears disconnected from fundamental performance given the entity's lack of revenue and the speculative nature of its carbon capture mandate compared to broader energy transition peers like Energy Vault Holdings.
The elevated P/E ratio is a mathematical artifact of non-operating warrant liability adjustments rather than a reflection of earnings power. Investors should interpret this valuation as a premium on the sponsor's ability to source a viable target, which remains highly uncertain given the company's limited operational history.
Based on historical financial statements, NOEMU's ROIC has consistently trended in negative territory, reaching -0.2% in 2026Q1, which underscores the structural inability of a pre-revenue shell entity to generate returns on invested capital prior to the successful completion of a business combination.
The negative ROIC trend reflects the ongoing consumption of capital to fund administrative and regulatory compliance costs without any offsetting operational income. This decay in capital efficiency is expected to persist until the company transitions from a shell entity to an operating business.
As reported in recent filings, the company's current ratio has fluctuated significantly, dropping to 0.48 by 2025Q4 before recovering to 2.58 in 2026Q1, yet this metric masks a precarious cash position that warrants close monitoring as the entity approaches its regulatory liquidation deadline.
While the current ratio suggests a superficial improvement, the absolute cash balance remains insufficient to sustain long-term operations. The volatility in liquidity ratios highlights the company's dependence on external sponsor support to maintain its public listing and fund the ongoing due diligence process.
Investors frequently misapply net margin and P/E ratios to NOEMU, failing to recognize that these metrics are distorted by non-cash derivative warrant accounting, which obscures the reality that the company is currently a pre-revenue entity with no underlying operational earning power or sustainable business model.
Analysts should instead focus on the 'cash burn rate' and 'time to liquidation' as the primary indicators of financial health for this business model. Relying on standard profitability ratios in a shell company context may lead to a fundamental misunderstanding of the entity's actual economic viability.
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Quick answers to the most common questions about buying NOEMU stock.
CO2 Energy Transition Corp. Unit's current P/E ratio is 62.9x. The historical average is 65.6x.
CO2 Energy Transition Corp. Unit's return on equity (ROE) is 2.4%. The historical average is 1.2%.
Based on historical data, CO2 Energy Transition Corp. Unit is trading at a P/E of 62.9x. Compare with industry peers and growth rates for a complete picture.