Latest Ratios: P/E Ratio -0.0x · EV/EBITDA 19.4x · ROE -44.8%. (1997–2025 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 | $3M | $47M | $44M | $79M | $410M | $405M | $52M | $37M | $14M | $15M | $9M |
| Enterprise Value | $485M | $529M | $468M | $461M | $778M | $441M | $87M | $53M | $23M | $20M | $14M |
| P/E Ratio → | -0.04 | — | — | — | — | 37.01 | — | — | — | 17.60 | — |
| P/S Ratio | 0.01 | 0.09 | 0.09 | 0.14 | 0.75 | 4.52 | 0.86 | 0.85 | 0.54 | 0.63 | 0.46 |
| P/B Ratio | 0.02 | 0.35 | 0.26 | 0.29 | 1.14 | 3.86 | 6.83 | 3.48 | 1.30 | 1.82 | 1.25 |
| P/FCF | — | — | — | 207.83 | — | — | — | — | 6.51 | 17.29 | — |
| P/OCF | — | — | — | 2.83 | — | 37.73 | 40.21 | 20.98 | 4.05 | 12.44 | 8.80 |
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 | — | 1.03 | 0.95 | 0.81 | 1.42 | 4.92 | 1.44 | 1.22 | 0.87 | 0.81 | 0.70 |
| EV / EBITDA | 19.37 | 21.14 | — | — | 35.58 | 48.44 | 45.32 | 20.79 | 12.31 | 6.64 | — |
| EV / EBIT | — | — | — | — | — | 56.48 | — | — | 1150.72 | 15.37 | — |
| EV / FCF | — | — | — | 1213.48 | — | — | — | — | 10.61 | 22.10 | — |
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 | 12.7% | 12.7% | 22.7% | 28.9% | 28.7% | 33.7% | 30.2% | 29.6% | 30.8% | 31.8% | 21.6% |
| Operating Margin | -6.0% | -6.0% | -17.6% | -14.2% | -5.0% | 1.7% | -5.1% | -0.4% | 0.1% | 5.3% | -14.9% |
| Net Profit Margin | -13.4% | -13.4% | -22.1% | -18.4% | -61.6% | 12.2% | -7.7% | -1.8% | -0.7% | 3.6% | -15.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -44.8% | -44.8% | -49.4% | -33.5% | -145.1% | 19.3% | -51.2% | -7.3% | -2.0% | 11.1% | -35.5% |
| ROA | -8.8% | -8.8% | -13.2% | -11.6% | -52.5% | 5.7% | -9.0% | -2.2% | -0.8% | 4.3% | -14.4% |
| ROIC | -3.8% | -3.8% | -10.4% | -8.9% | -4.7% | 1.3% | -6.6% | -0.5% | 0.1% | 7.6% | -16.4% |
| ROCE | -7.0% | -7.0% | -12.5% | -10.7% | -5.2% | 1.0% | -11.3% | -0.7% | 0.1% | 12.6% | -27.4% |
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 | 3.70 | 3.70 | 2.61 | 1.56 | 1.07 | 1.66 | 4.79 | 1.55 | 0.89 | 0.56 | 0.72 |
| Debt / EBITDA | 20.12 | 20.12 | — | — | 17.67 | 19.15 | 18.99 | 6.49 | 5.17 | 1.59 | — |
| Net Debt / Equity | — | 3.54 | 2.48 | 1.42 | 1.02 | 0.34 | 4.61 | 1.50 | 0.82 | 0.50 | 0.67 |
| Net Debt / EBITDA | 19.26 | 19.26 | — | — | 16.82 | 3.88 | 18.26 | 6.25 | 4.76 | 1.44 | — |
| Debt / FCF | — | — | — | 1005.66 | — | — | — | — | 4.10 | 4.81 | — |
| Interest Coverage | -0.55 | -0.55 | -1.79 | -1.89 | -10.87 | 4.64 | -2.05 | -0.22 | 0.07 | 3.41 | -7.13 |
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 | 0.35 | 0.35 | 1.37 | 1.62 | 1.42 | 3.43 | 0.48 | 0.71 | 0.68 | 0.69 | 0.36 |
| Quick Ratio | 0.27 | 0.27 | 1.22 | 1.19 | 0.98 | 3.42 | 0.46 | 0.65 | 0.58 | 0.57 | 0.25 |
| Cash Ratio | 0.04 | 0.04 | 0.18 | 0.27 | 0.11 | 2.52 | 0.04 | 0.03 | 0.07 | 0.06 | 0.03 |
| Asset Turnover | — | 0.67 | 0.63 | 0.67 | 0.57 | 0.28 | 0.98 | 1.04 | 0.84 | 1.19 | 0.97 |
| Inventory Turnover | 9.79 | 9.79 | 20.89 | 7.25 | 5.47 | 98.75 | 60.33 | 28.03 | 15.42 | 18.12 | 11.02 |
| Days Sales Outstanding | — | 69.33 | 57.60 | 57.66 | 66.70 | 115.54 | 65.33 | 79.67 | 71.21 | 47.35 | 40.00 |
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 | — | — | — | — | — | 2.7% | — | — | — | 5.7% | — |
| FCF Yield | — | — | — | 0.5% | — | — | — | — | 15.4% | 5.8% | — |
| 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 | — | $32M | $26M | $26M | $24M | $14M | $11M | $10M | $9M | $9M | $8M |
Liquidity and solvency distress
Based on reported figures, Inotiv's P/S ratio of 0.01 and negative P/E suggest the market is pricing the firm for extreme distress, as investors heavily discount the company's ability to generate future earnings amidst a backdrop of persistent net losses and significant regulatory headwinds in the research sector.
The lack of a meaningful forward P/E or PEG ratio underscores the difficulty in forecasting a return to profitability for a business model currently burdened by high fixed costs. Investors should monitor whether the current valuation represents a deep-value opportunity or a permanent impairment of the firm's long-term earnings potential.
As reported in financial statements, Inotiv's ROIC has consistently languished in negative territory, reaching -2.1% in 2026Q2, which indicates that the company is currently destroying shareholder value rather than compounding it through its integrated research products and toxicology services model.
The persistent negative ROIC suggests that the capital deployed for recent acquisitions has failed to generate returns exceeding the cost of capital. This trend warrants further investigation into whether the company's asset base can ever achieve the efficiency levels required to justify its current capital structure.
According to recent quarterly filings, Inotiv's cash conversion cycle has fluctuated significantly, reaching 55 days in 2026Q2, which highlights the operational challenges in managing inventory and receivables within a business model that is highly sensitive to supply chain disruptions and client-side funding cycles.
The volatility in the CCC suggests that the company lacks the leverage to optimize its working capital effectively, potentially exacerbating liquidity pressures. Investors should monitor whether management can stabilize these metrics to improve the cash-generating capacity of the core research products segment.
Based on reported figures, Inotiv's debt-to-equity ratio has surged to 6.33 as of 2026Q2, indicating that the company's reliance on debt financing has reached a critical level that leaves it highly vulnerable to interest rate fluctuations and potential covenant breaches in the current environment.
The negative interest coverage ratio of -1.16 confirms that the firm is unable to service its debt obligations from operating income alone. This structural imbalance suggests that the company may face significant refinancing risks unless it can rapidly improve its operating margins or secure additional capital.
The most commonly misapplied metric for Inotiv is the P/E ratio, which obscures the company's underlying financial reality by failing to account for the massive non-cash charges and integration costs that currently render traditional earnings-based valuation models entirely irrelevant for this specific business model.
Analysts should instead focus on EV/EBITDA or cash-based metrics to better understand the firm's ability to cover its high fixed-cost base. Relying on P/E in a period of negative net margins may lead to a fundamental misunderstanding of the company's solvency risk and its path toward potential recovery.
Includes 30+ ratios · 29 years · Updated daily
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Quick answers to the most common questions about buying NOTV stock.
Inotiv, Inc.'s current P/E ratio is -0.0x. The historical average is 27.2x.
Inotiv, Inc.'s current EV/EBITDA is 19.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.5x.
Inotiv, Inc.'s return on equity (ROE) is -44.8%. The historical average is -14.8%.
Based on historical data, Inotiv, Inc. is trading at a P/E of -0.0x. Compare with industry peers and growth rates for a complete picture.
Inotiv, Inc. has 12.7% gross margin and -6.0% operating margin.
Inotiv, Inc.'s Debt/EBITDA ratio is 20.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.