Latest Ratios: P/E Ratio -30.4x · EV/EBITDA N/A · ROE -29.5%. (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 | $4.0B | $1.5B | $656M | $1.4B | $512M | $666M | — | — |
| Enterprise Value | $3.8B | $1.2B | $576M | $1.2B | $408M | $405M | — | — |
| P/E Ratio → | -30.35 | — | — | — | 6.88 | — | — | — |
| P/S Ratio | 86.96 | 31.97 | 7.87 | 17.16 | 13.48 | 28.07 | — | — |
| P/B Ratio | 8.02 | 3.31 | 1.88 | 3.58 | 1.33 | 10.17 | — | — |
| 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 | — | 26.95 | 6.92 | 15.35 | 10.75 | 17.06 | — | — |
| 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 | 31.0% | 31.0% | 34.0% | 39.1% | 31.5% | 45.0% | 31.4% | 30.8% |
| Operating Margin | -190.0% | -190.0% | -156.9% | -148.7% | -325.8% | -288.6% | -158.7% | -1013.3% |
| Net Profit Margin | -254.7% | -254.7% | -101.6% | -183.0% | 194.8% | -643.3% | -160.7% | -1028.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -29.5% | -29.5% | -23.2% | -38.0% | 32.8% | -233.0% | — | -649.0% |
| ROA | -26.3% | -26.3% | -19.3% | -31.9% | 20.5% | -88.7% | -66.3% | -193.6% |
| ROIC | -27.2% | -27.2% | -38.7% | -34.2% | -217.7% | — | — | -853.0% |
| ROCE | -21.4% | -21.4% | -32.4% | -28.1% | -35.8% | -41.9% | -79.5% | -332.5% |
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 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.11 | — | 1.80 |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.52 | -0.23 | -0.38 | -0.27 | -3.99 | — | -0.44 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | -134.46 | -134.46 | -591.31 | — | — | — | -78.35 | — |
Net cash position: cash ($237M) exceeds total debt ($6M)
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 | 4.99 | 4.99 | 5.69 | 4.25 | 6.98 | 27.16 | 7.37 | 2.03 |
| Quick Ratio | 4.73 | 4.73 | 4.96 | 3.79 | 6.05 | 26.04 | 6.84 | 1.85 |
| Cash Ratio | 4.54 | 4.54 | 4.10 | 3.13 | 5.42 | 25.00 | 6.11 | 1.56 |
| Asset Turnover | — | 0.09 | 0.21 | 0.16 | 0.09 | 0.08 | 0.24 | 0.19 |
| Inventory Turnover | 2.38 | 2.38 | 3.55 | 2.18 | 1.36 | 1.09 | 2.39 | 1.67 |
| Days Sales Outstanding | — | 28.78 | 61.26 | 118.78 | 87.80 | 127.06 | 127.90 | 151.02 |
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 | — | — | — | — | 14.5% | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | — | — |
| Shares Outstanding | — | $206M | $184M | $169M | $146M | $39M | $16M | $15M |
Persistent Operating Cash Burn
Based on current market data, NVTS trades at a price-to-sales multiple of 86.96, which appears disconnected from the company's reported 44.88% year-over-year revenue decline and suggests investors are pricing in a speculative recovery rather than reflecting the firm's current fundamental performance relative to industry peers.
The extreme P/S ratio indicates that the market is valuing the company as a high-growth technology disruptor despite the recent contraction in its core consumer electronics segment. This valuation appears to rely heavily on the assumption of future GaN adoption in automotive and data center markets, which remains unproven in the current financial results.
As reported in recent financial statements, the company's ROIC has remained consistently negative, reaching -9.9% in 2026Q1, which indicates that the firm is currently destroying shareholder value rather than compounding it through its specialized semiconductor manufacturing and design activities.
The persistent negative return on invested capital suggests that the company's heavy investment in R&D and specialized engineering talent has yet to generate a return that exceeds the cost of capital. Investors should monitor whether the integration of the GeneSiC acquisition can eventually drive the efficiency gains necessary to turn these returns positive.
According to historical quarterly data, the company's cash conversion cycle has shown significant instability, peaking at 176 days in 2024Q2, which reflects the challenges of managing inventory and receivables within a highly cyclical and concentrated consumer electronics supply chain.
The erratic nature of the cash conversion cycle suggests that the company lacks the leverage to dictate terms to its suppliers or customers, leading to potential liquidity traps. The high days-inventory-outstanding figures indicate that the firm may be struggling with product obsolescence risks as it attempts to transition its technology to new end-markets.
Based on the provided balance sheet, the company maintains a current ratio of 4.33 as of 2026Q1, which suggests that while the firm possesses sufficient short-term liquidity to fund its immediate operations, this position is being eroded by persistent and deep operating losses.
While the current ratio appears healthy compared to broader industrial peers, it is largely a function of the cash raised from previous financing rounds rather than operational success. The company's reliance on these reserves to cover its negative cash flow warrants close investigation, as the current burn rate may necessitate further capital raises.
The most commonly misapplied metric for NVTS is the price-to-sales ratio, which obscures the company's lack of profitability and high fixed-cost structure, failing to account for the significant capital intensity required to compete in the wide-bandgap semiconductor market.
Investors should prioritize free cash flow yield or enterprise value to gross profit instead of revenue multiples, as these metrics better capture the company's ability to convert sales into actual earnings. Relying on P/S ratios in a period of revenue contraction can lead to a dangerous overestimation of the company's intrinsic value.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying NVTS stock.
Navitas Semiconductor Corporation's current P/E ratio is -30.4x. The historical average is 6.9x.
Navitas Semiconductor Corporation's return on equity (ROE) is -29.5%. The historical average is -58.2%.
Based on historical data, Navitas Semiconductor Corporation is trading at a P/E of -30.4x. Compare with industry peers and growth rates for a complete picture.
Navitas Semiconductor Corporation has 31.0% gross margin and -190.0% operating margin.