Latest Ratios: P/E Ratio -4.0x · EV/EBITDA N/A · ROE -19.3%. (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 | $371M | $605M | $666M | $495M | $413M | $612M | $833M | $873M | $993M | $1.0B | $668M |
| Enterprise Value | $518M | $752M | $762M | $579M | $383M | $549M | $762M | $826M | $923M | $931M | $628M |
| P/E Ratio → | -4.03 | — | — | — | — | — | 330.62 | — | 71.90 | 160.88 | 212.82 |
| P/S Ratio | 0.45 | 0.74 | 0.83 | 0.66 | 0.90 | 1.32 | 2.05 | 1.90 | 2.19 | 2.33 | 1.63 |
| P/B Ratio | 0.81 | 1.34 | 1.32 | 0.83 | 1.22 | 1.82 | 2.34 | 2.66 | 2.96 | 3.41 | 2.54 |
| P/FCF | — | — | — | — | — | — | 14.58 | 75.85 | 28.64 | 27.80 | 25.33 |
| P/OCF | 11.13 | 18.13 | 25.82 | — | — | 33.14 | 11.22 | 27.25 | 19.89 | 18.97 | 14.94 |
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 | — | 0.91 | 0.95 | 0.78 | 0.83 | 1.18 | 1.87 | 1.80 | 2.04 | 2.15 | 1.53 |
| EV / EBITDA | — | — | — | — | 20.39 | 22.14 | 27.21 | 85.22 | 18.93 | 15.27 | 15.00 |
| EV / EBIT | — | — | — | — | — | — | 360.33 | — | 40.33 | 22.81 | 17.73 |
| EV / FCF | — | — | — | — | — | — | 13.33 | 71.78 | 26.63 | 25.57 | 23.83 |
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 | 67.1% | 67.1% | 68.3% | 65.1% | 73.2% | 75.3% | 74.9% | 78.1% | 78.7% | 78.6% | 78.6% |
| Operating Margin | -8.3% | -8.3% | -10.6% | -18.6% | -2.9% | -1.8% | -1.5% | -4.1% | 6.6% | 9.4% | 5.1% |
| Net Profit Margin | -11.2% | -11.2% | -15.8% | -20.3% | -4.3% | -8.3% | 0.6% | -6.2% | 3.0% | 1.4% | 0.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -19.3% | -19.3% | -22.9% | -32.4% | -5.9% | -11.1% | 0.7% | -8.6% | 4.4% | 2.2% | 1.1% |
| ROA | -10.6% | -10.6% | -13.9% | -21.9% | -4.2% | -7.7% | 0.5% | -5.9% | 3.2% | 1.6% | 0.8% |
| ROIC | -8.6% | -8.6% | -9.9% | -21.1% | -3.4% | -2.2% | -1.7% | -5.2% | 9.4% | 13.9% | 7.0% |
| ROCE | -9.7% | -9.7% | -11.4% | -24.5% | -3.6% | -2.1% | -1.5% | -4.7% | 8.5% | 13.3% | 6.9% |
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 | 0.51 | 0.51 | 0.36 | 0.20 | 0.06 | 0.07 | 0.07 | 0.07 | — | — | — |
| Debt / EBITDA | — | — | — | — | 1.14 | 0.98 | 0.89 | 2.36 | — | — | — |
| Net Debt / Equity | — | 0.33 | 0.19 | 0.14 | -0.09 | -0.19 | -0.20 | -0.14 | -0.21 | -0.27 | -0.15 |
| Net Debt / EBITDA | — | — | — | — | -1.55 | -2.56 | -2.55 | -4.84 | -1.43 | -1.33 | -0.94 |
| Debt / FCF | — | — | — | — | — | — | -1.25 | -4.07 | -2.01 | -2.23 | -1.50 |
| Interest Coverage | -4.19 | -4.19 | -3.18 | -16.23 | -12.75 | -6.35 | 0.85 | -220.71 | 27.64 | 98.10 | — |
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 | 2.45 | 2.45 | 2.57 | 2.54 | 3.06 | 2.55 | 2.60 | 3.07 | 2.85 | 3.17 | 2.33 |
| Quick Ratio | 2.24 | 2.24 | 1.45 | 1.20 | 1.86 | 1.76 | 1.79 | 2.10 | 1.95 | 2.15 | 1.57 |
| Cash Ratio | 0.48 | 0.48 | 0.49 | 0.20 | 0.61 | 0.83 | 0.93 | 0.82 | 0.81 | 1.02 | 0.47 |
| Asset Turnover | — | 0.97 | 0.89 | 0.81 | 1.00 | 0.97 | 0.77 | 0.93 | 0.97 | 1.07 | 1.10 |
| Inventory Turnover | 7.92 | 7.92 | 1.34 | 1.17 | 1.23 | 1.38 | 1.20 | 1.22 | 1.26 | 1.14 | 1.39 |
| Days Sales Outstanding | — | 60.25 | 61.50 | 62.62 | 65.64 | 61.73 | 65.02 | 68.88 | 62.64 | 53.37 | 51.53 |
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 | — | — | — | — | — | — | 0.3% | — | 1.4% | 0.6% | 0.5% |
| FCF Yield | — | — | — | — | — | — | 6.9% | 1.3% | 3.5% | 3.6% | 3.9% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 9.5% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 9.5% |
| Shares Outstanding | — | $40M | $38M | $37M | $20M | $20M | $19M | $19M | $19M | $18M | $18M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying OFIX stock.
Orthofix Medical Inc.'s current P/E ratio is -4.0x. The historical average is 37.0x.
Orthofix Medical Inc.'s return on equity (ROE) is -19.3%. The historical average is 0.6%.
Based on historical data, Orthofix Medical Inc. is trading at a P/E of -4.0x. Compare with industry peers and growth rates for a complete picture.
Orthofix Medical Inc. has 67.1% gross margin and -8.3% operating margin.
Key Metrics
Top Statement Risk
Integration and sales attrition
Metrics are mathematically derived from official filings.
Turnaround Discount Masks Integration Risk
According to current market data, Orthofix trades at a price-to-sales multiple of 0.48, which appears to reflect a significant turnaround discount compared to industry peers like Globus Medical, suggesting that investors are pricing in substantial execution risk regarding the ongoing SeaSpine merger and future profitability recovery.
The negative P/E ratio of -4.29 highlights the absence of GAAP earnings, rendering traditional earnings-based valuation metrics currently inapplicable for assessing the company's intrinsic value. Investors should monitor whether this low valuation represents a genuine value opportunity or a structural trap resulting from the company's inability to convert high gross margins into bottom-line growth.
Capital Efficiency Decaying Post-Merger
As reported in recent financial statements, Orthofix's ROIC has trended into negative territory, reaching -1.8% in 2026Q1, which indicates that the company is currently destroying shareholder value rather than compounding it as it navigates the complex integration of its hardware and biologics business segments.
The persistent negative return on invested capital suggests that the capital deployed for the SeaSpine acquisition has yet to generate sufficient incremental returns to offset the associated integration costs and overhead. This trend warrants further investigation into whether the company's current asset base is being utilized effectively or if significant impairment risks are looming.
Working Capital Dragging Operational Velocity
Based on reported figures, the company's cash conversion cycle has ballooned to 249 days in 2026Q1, primarily driven by an exceptionally high days inventory outstanding of 276 days, which indicates significant inefficiencies in managing field inventory levels within the competitive spinal hardware market.
The elevated inventory levels suggest that the 'kit and tray' model is creating a substantial drag on liquidity, tying up capital that could otherwise be used for R&D or debt reduction. Investors should monitor whether management can rationalize this field inventory to improve cash flow conversion, as the current cycle is significantly longer than typical industry standards.
Rising Debt Amidst Operational Strain
According to recent balance sheet filings, Orthofix's debt-to-equity ratio has climbed to 0.54 as of 2026Q1, reflecting a growing reliance on external financing to sustain operations while the company continues to grapple with negative operating margins and the ongoing costs of its recent corporate merger.
While the current leverage remains manageable in absolute terms, the negative interest coverage ratio of -1.89 suggests that the company's ability to service its debt from core operations is currently compromised. This trend warrants close monitoring, as any further deterioration in operating performance could necessitate additional dilutive financing or restrictive debt covenants.
Misapplied Focus on Gross Margins
Market participants frequently overemphasize Orthofix's robust gross margin of 67.09% as a proxy for profitability, which obscures the reality that the company's high SG&A intensity and integration-related overhead consistently result in negative operating margins, rendering the gross margin a misleading indicator of true earning power.
Investors should instead focus on the operating margin and free cash flow conversion, as these metrics better capture the company's ability to scale its specialized sales force and manage the costs of its complex product portfolio. Relying on gross margins alone ignores the structural challenges inherent in the company's current distribution and integration model.