OneSpan Inc. (OSPN) Financial Ratios
29 years of historical data (1997–2025) · Technology · Software - Infrastructure
EV/EBITDA
↓
6.00
↓-36% vs avg
5yr avg: 9.42
30Y Low6.2·High98.3
P/FCF
↓
9.02
↓-29% vs avg
5yr avg: 12.70
30Y Low9.8·High91.1
P/B Ratio
↓
1.72
↓-35% vs avg
5yr avg: 2.64
30Y Low1.7·High16.8
ROE
↑
30.1%
↓+509% vs avg
5yr avg: 4.9%
30Y Low-98%·High47%
Debt/EBITDA
↓
0.09
↓-30% vs avg
5yr avg: 0.13
30Y Low0.1·High45.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
OSPN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
OneSpan Inc. trades at 6.4x earnings, 34% below its 5-year average of 9.7x, sitting at the 0th percentile of its historical range. Compared to the Technology sector median P/E of 27.7x, the stock trades at a discount of 77%. On a free-cash-flow basis, the stock trades at 9.0x P/FCF, 29% below the 5-year average of 12.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $455M | $494M | $725M | $431M | $449M | $671M | $828M | $687M | $519M | $553M | $543M |
| Enterprise Value | $391M | $430M | $651M | $395M | $363M | $617M | $752M | $617M | $442M | $475M | $499M |
| P/E Ratio → | 6.39 | 6.76 | 12.70 | — | — | — | — | 85.60 | 134.90 | — | 52.50 |
| P/S Ratio | 1.87 | 2.03 | 2.98 | 1.83 | 2.05 | 3.13 | 3.84 | 2.71 | 2.44 | 2.86 | 2.82 |
| P/B Ratio | 1.72 | 1.82 | 3.41 | 2.71 | 2.21 | 3.05 | 3.22 | 2.62 | 2.04 | 2.33 | 2.11 |
| P/FCF | 9.02 | 9.78 | 15.61 | — | — | — | 70.04 | 63.68 | — | 38.33 | 20.71 |
| P/OCF | 7.66 | 8.31 | 13.02 | — | — | — | 55.48 | 37.66 | — | 31.39 | 19.11 |
P/E links to full P/E history page with 30-year chart
OSPN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
OneSpan Inc.'s enterprise value stands at 6.0x EBITDA, 36% below its 5-year average of 9.4x. The Technology sector median is 17.5x, placing the stock at a 66% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.77 | 2.68 | 1.68 | 1.66 | 2.88 | 3.49 | 2.43 | 2.08 | 2.46 | 2.59 |
| EV / EBITDA | 6.00 | 6.60 | 12.24 | — | — | — | 98.30 | 23.97 | 36.36 | 28.26 | 24.48 |
| EV / EBIT | 7.81 | 8.70 | 13.21 | — | — | — | — | 43.47 | — | 76.65 | 51.96 |
| EV / FCF | — | 8.51 | 14.02 | — | — | — | 63.61 | 57.16 | — | 32.88 | 19.02 |
OSPN Profitability
Margins and return-on-capital ratios measuring operating efficiency
OneSpan Inc. earns an operating margin of 20.6%. Operating margins have expanded from -12.3% to 20.6% over the past 3 years, signaling improving operational efficiency. Return on equity of 30.1% is exceptionally high. ROIC of 21.7% represents excellent returns on invested capital.
Margins
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 | 70.7% | 70.7% | 71.8% | 67.1% | 67.8% | 66.6% | 70.6% | 66.2% | 69.5% | 69.6% | 67.9% |
| Operating Margin | 20.6% | 20.6% | 18.4% | -12.3% | -12.4% | -12.2% | -2.4% | 5.6% | 0.0% | 3.2% | 5.0% |
| Net Profit Margin | 30.0% | 30.0% | 23.5% | -12.7% | -6.6% | -14.3% | -2.5% | 3.1% | 1.8% | -11.6% | 5.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 30.1% | 30.1% | 30.7% | -16.4% | -6.8% | -12.8% | -2.1% | 3.0% | 1.6% | -9.0% | 4.2% |
| ROA | 19.8% | 19.8% | 18.2% | -9.5% | -4.3% | -8.5% | -1.4% | 2.1% | 1.1% | -6.7% | 3.3% |
| ROIC | 21.7% | 21.7% | 25.6% | -18.0% | -14.3% | -11.3% | -2.1% | 5.8% | 0.0% | 2.5% | 3.8% |
| ROCE | 19.6% | 19.6% | 22.2% | -14.5% | -11.4% | -9.4% | -1.7% | 4.8% | 0.0% | 2.3% | 3.7% |
OSPN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
OneSpan Inc. carries a Debt/EBITDA ratio of 0.1x, which is very conservative (97% below the sector average of 2.9x). The company holds a net cash position — cash of $70M exceeds total debt of $6M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | — | — | — |
| Debt / EBITDA | 0.09 | 0.09 | 0.17 | — | — | — | 1.62 | 0.54 | — | — | — |
| Net Debt / Equity | — | -0.24 | -0.35 | -0.22 | -0.42 | -0.24 | -0.30 | -0.27 | -0.30 | -0.33 | -0.17 |
| Net Debt / EBITDA | -0.99 | -0.99 | -1.39 | — | — | — | -9.94 | -2.73 | -6.28 | -4.68 | -2.18 |
| Debt / FCF | — | -1.27 | -1.59 | — | — | — | -6.43 | -6.52 | — | -5.45 | -1.69 |
| Interest Coverage | — | — | — | — | — | -26128.00 | — | — | — | — | — |
Net cash position: cash ($70M) exceeds total debt ($6M)
OSPN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.50x means OneSpan Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has improved from 1.27x to 1.50x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.50 | 1.50 | 1.59 | 1.27 | 1.78 | 2.10 | 2.75 | 2.84 | 2.64 | 3.45 | 3.05 |
| Quick Ratio | 1.41 | 1.41 | 1.49 | 1.14 | 1.67 | 1.98 | 2.58 | 2.57 | 2.45 | 3.26 | 2.80 |
| Cash Ratio | 0.62 | 0.62 | 0.75 | 0.37 | 0.89 | 1.11 | 1.53 | 1.49 | 1.35 | 2.39 | 2.12 |
| Asset Turnover | — | 0.61 | 0.72 | 0.81 | 0.65 | 0.63 | 0.57 | 0.66 | 0.60 | 0.57 | 0.59 |
| Inventory Turnover | 6.81 | 6.81 | 6.36 | 4.98 | 5.84 | 6.92 | 4.85 | 4.32 | 4.49 | 4.88 | 3.54 |
| Days Sales Outstanding | — | 111.47 | 97.44 | 107.94 | 116.08 | 104.33 | 109.55 | 97.40 | 116.22 | 90.88 | 70.00 |
OSPN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
OneSpan Inc. returns 6.8% to shareholders annually — split between a 3.9% dividend yield and 2.9% buyback yield. The payout ratio of 25.3% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 15.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 3.9% | 3.7% | 0.7% | — | — | — | — | — | — | — | — |
| Payout Ratio | 25.3% | 25.3% | 8.3% | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 15.6% | 14.8% | 7.9% | — | — | — | — | 1.2% | 0.7% | — | 1.9% |
| FCF Yield | 11.1% | 10.2% | 6.4% | — | — | — | 1.4% | 1.6% | — | 2.6% | 4.8% |
| Buyback Yield | 2.9% | 2.7% | 0.0% | 6.8% | 1.3% | 1.1% | 0.6% | 0.0% | 0.2% | 0.1% | 0.2% |
| Total Shareholder Yield | 6.8% | 6.4% | 0.7% | 6.8% | 1.3% | 1.1% | 0.6% | 0.0% | 0.2% | 0.1% | 0.2% |
| Shares Outstanding | — | $38M | $39M | $40M | $40M | $40M | $40M | $40M | $40M | $40M | $40M |
Peer Comparison
Compare OSPN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 OSPNYou | $455M | 6.4 | 6.0 | 9.0 | 70.7% | 20.6% | 30.1% | 21.7% | 0.1 |
 QLYS | $3B | 17.5 | 13.5 | 11.0 | 82.8% | 33.2% | 38.2% | 47.5% | 0.4 |
 ALKT | $2B | -37.9 | — | 45.1 | 57.8% | -12.1% | -13.3% | -8.6% | — |
 NCNO | $2B | -53.9 | 122.0 | 39.4 | 60.1% | -3.4% | -3.5% | -1.2% | 13.0 |
 TNET | $2B | 13.6 | 2.8 | 6.5 | 17.4% | 5.3% | 252.0% | — | 2.8 |
 DOCN | $16B | 59.8 | 55.0 | 92.6 | 59.9% | 17.4% | — | 15.6% | 2.5 |
 SIGI | $5B | 11.3 | 9.6 | 4.1 | 40.9% | 11.0% | 13.9% | 10.9% | 1.4 |
 DSGX | $6B | 38.4 | 18.1 | 23.7 | 65.9% | 32.3% | 11.2% | 14.9% | 0.0 |
 SAIL | $7B | -6.2 | 160.2 | — | 64.5% | -21.9% | — | — | 21.6 |
 MSFT | $3.1T | 30.9 | 19.7 | 43.7 | 68.8% | 45.6% | 33.3% | 24.9% | 0.7 |
 OKTA | $15B | 61.7 | 56.9 | 16.1 | 77.4% | 5.2% | 3.5% | 1.7% | 1.7 |
| Technology Median | — | 27.7 | 17.5 | 19.2 | 48.5% | -0.6% | 2.4% | 2.9% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 29 years · Updated daily
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Start ComparisonOSPN — Frequently Asked Questions
Quick answers to the most common questions about buying OSPN stock.
What is OneSpan Inc.'s P/E ratio?
OneSpan Inc.'s current P/E ratio is 6.4x. The historical average is 39.7x.
What is OneSpan Inc.'s EV/EBITDA?
OneSpan Inc.'s current EV/EBITDA is 6.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.8x.
What is OneSpan Inc.'s ROE?
OneSpan Inc.'s return on equity (ROE) is 30.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 3.5%.
Is OSPN stock overvalued?
Based on historical data, OneSpan Inc. is trading at a P/E of 6.4x. Compare with industry peers and growth rates for a complete picture.
What is OneSpan Inc.'s dividend yield?
OneSpan Inc.'s current dividend yield is 3.95% with a payout ratio of 25.3%.
What are OneSpan Inc.'s profit margins?
OneSpan Inc. has 70.7% gross margin and 20.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does OneSpan Inc. have?
OneSpan Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.