Latest Ratios: P/E Ratio 97.5x · EV/EBITDA 45.1x · ROE 19.1%. (2010–2025 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 | $708M | $307M | $168M | $152M | $137M | $82M | $229M | $554M | $183M | $35M | $15M |
| Enterprise Value | $701M | $300M | $160M | $138M | $131M | $78M | $225M | $544M | $177M | $32M | $13M |
| P/E Ratio → | 97.46 | 39.62 | 44.02 | 23.33 | 132.99 | — | — | 72.50 | 70.68 | 18.13 | 11.13 |
| P/S Ratio | 8.64 | 3.74 | 2.88 | 3.21 | 3.59 | 2.77 | 9.48 | 15.97 | 7.81 | 2.29 | 1.41 |
| P/B Ratio | 15.59 | 6.34 | 5.51 | 6.19 | 8.38 | 6.28 | 17.27 | 28.69 | 20.59 | 7.19 | 5.58 |
| P/FCF | 13.82 | 5.99 | 12.47 | 7.37 | 6.43 | 6.50 | 21.92 | 58.36 | 12.71 | 6.18 | 38.59 |
| P/OCF | 13.50 | 5.86 | 7.32 | 5.49 | 5.39 | 5.36 | 16.60 | 55.64 | 11.44 | 4.87 | 11.57 |
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 | — | 3.66 | 2.74 | 2.92 | 3.43 | 2.65 | 9.33 | 15.69 | 7.57 | 2.11 | 1.26 |
| EV / EBITDA | 45.06 | 19.29 | 22.81 | 35.75 | 40.12 | — | — | 71.73 | 49.80 | 12.13 | 6.82 |
| EV / EBIT | 96.81 | 29.92 | 38.67 | 58.37 | — | — | — | 83.15 | 68.72 | 18.15 | 9.58 |
| EV / FCF | — | 5.86 | 11.89 | 6.71 | 6.15 | 6.23 | 21.58 | 57.35 | 12.32 | 5.70 | 34.69 |
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 | 49.2% | 49.2% | 55.1% | 51.1% | 55.1% | 49.9% | 38.6% | 55.5% | 48.7% | 44.0% | 50.1% |
| Operating Margin | 8.8% | 8.8% | 1.7% | -0.4% | 0.9% | -9.3% | -34.6% | 17.6% | 10.6% | 11.6% | 13.0% |
| Net Profit Margin | 9.2% | 9.2% | 6.5% | 13.7% | 2.7% | -9.2% | -37.9% | 21.5% | 11.0% | 11.8% | 13.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.1% | 19.1% | 13.9% | 31.7% | 7.0% | -20.8% | -56.2% | 52.9% | 37.7% | 48.0% | 73.6% |
| ROA | 3.3% | 3.3% | 2.3% | 5.1% | 1.1% | -3.6% | -15.1% | 16.6% | 9.1% | 10.5% | 11.6% |
| ROIC | 17.0% | 17.0% | 4.6% | -1.2% | 2.6% | -21.2% | -64.5% | 70.9% | 69.1% | 81.9% | 183.6% |
| ROCE | 15.6% | 15.6% | 3.4% | -0.7% | 1.9% | -16.2% | -45.6% | 43.3% | 36.0% | 47.2% | 65.1% |
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 | 0.29 | 0.29 | 0.10 | 0.14 | 0.23 | 0.31 | 0.33 | — | — | — | 0.06 |
| Debt / EBITDA | 0.90 | 0.90 | 0.42 | 0.86 | 1.13 | — | — | — | — | — | 0.08 |
| Net Debt / Equity | — | -0.15 | -0.26 | -0.56 | -0.37 | -0.26 | -0.26 | -0.50 | -0.63 | -0.57 | -0.56 |
| Net Debt / EBITDA | -0.45 | -0.45 | -1.12 | -3.55 | -1.85 | — | — | -1.27 | -1.58 | -1.04 | -0.77 |
| Debt / FCF | — | -0.14 | -0.58 | -0.67 | -0.28 | -0.27 | -0.34 | -1.02 | -0.39 | -0.49 | -3.90 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | 55.90 | 17.83 |
Net cash position: cash ($21M) exceeds total debt ($14M)
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 | 1.11 | 1.11 | 1.09 | 1.08 | 1.10 | 1.10 | 1.15 | 1.40 | 1.22 | 1.15 | 1.07 |
| Quick Ratio | 1.11 | 1.11 | 1.09 | 1.08 | 1.10 | 1.10 | 1.15 | 1.40 | 0.26 | 0.22 | 0.18 |
| Cash Ratio | 0.10 | 0.10 | 0.07 | 0.14 | 0.11 | 0.11 | 0.15 | 0.28 | 0.21 | 0.18 | 0.15 |
| Asset Turnover | — | 0.30 | 0.33 | 0.32 | 0.35 | 0.35 | 0.36 | 0.65 | 0.65 | 0.75 | 0.75 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 0.46 | 0.59 | 0.52 |
| Days Sales Outstanding | — | 325.35 | 214.09 | 125.25 | 44.92 | 42.04 | 7.75 | 9.39 | 5.26 | 3.97 | 3.86 |
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 | 1.0% | 2.5% | 2.3% | 4.3% | 0.8% | — | — | 1.4% | 1.4% | 5.5% | 9.0% |
| FCF Yield | 7.2% | 16.7% | 8.0% | 13.6% | 15.5% | 15.4% | 4.6% | 1.7% | 7.9% | 16.2% | 2.6% |
| Buyback Yield | 0.1% | 0.1% | 0.3% | 0.7% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.1% | 0.1% | 0.3% | 0.7% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $60M | $56M | $54M | $53M | $51M | $49M | $55M | $52M | $48M | $44M |
Includes 30+ ratios · 16 years · Updated daily
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Quick answers to the most common questions about buying PAYS stock.
Paysign, Inc.'s current P/E ratio is 97.5x. The historical average is 37.9x. This places it at the 92th percentile of its historical range.
Paysign, Inc.'s current EV/EBITDA is 45.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.2x.
Paysign, Inc.'s return on equity (ROE) is 19.1%. The historical average is 22.2%.
Based on historical data, Paysign, Inc. is trading at a P/E of 97.5x. This is at the 92th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Paysign, Inc. has 49.2% gross margin and 8.8% operating margin.
Paysign, Inc.'s Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Valuation and cash flow volatility
Metrics are mathematically derived from official filings.
Valuation Premium Reflects Accelerating Growth
The current P/E of 101.23 and EV/EBITDA of 46.82 indicate the market is pricing in substantial future earnings growth, a significant premium to peers like EVERTEC at 13.4x P/E, based on the provided valuation multiples.
The forward P/E of 44.49 suggests the market expects earnings to more than double over the next year, aligning with the accelerating revenue growth trend. This extreme multiple expansion from historical norms appears justified only if the company sustains its current high-velocity growth and margin expansion, otherwise a sharp de-rating risk exists.
Margin Surge Signals Operating Leverage
PAYS's net margin expanded dramatically to 23.9% in 2026Q2 from just 2.3% in 2024Q1, a transformation that suggests strong operating leverage as fixed costs are absorbed over a rapidly growing revenue base.
The gross margin spike to 63.3% and operating margin to 24.8% represent a structural shift in profitability, likely driven by a combination of product mix and improved cost discipline. However, investors should monitor if this elevated margin profile is sustainable as the company scales, or if it reflects a one-time benefit from the goodwill impairment that lowered depreciation.
Compounding Returns from Asset-Light Model
ROIC has improved sharply from negative territory to 13.3% in 2026Q2, indicating the business is now generating meaningful returns on invested capital, a critical inflection point for a growth-stage company.
This improvement in ROIC, alongside a rising ROE of 11.7%, is primarily driven by expanding net margins rather than asset turnover, which remains low at 0.09. The trend confirms the company is moving toward a more efficient capital structure where retained earnings are being reinvested into high-return opportunities.
Minimal Leverage Limits Downside Risk
With a debt-to-equity ratio of just 0.09 in 2026Q2 and interest coverage data unavailable, the balance sheet shows minimal financial leverage, providing significant flexibility to fund growth without debt service constraints.
The company successfully deleveraged from a D/E of 0.29 in 2025Q4 to current levels, suggesting strong cash generation was used to reduce obligations. This conservative posture contrasts with higher-leverage peers and positions the company well to weather operational volatility, though it may also indicate a missed opportunity to employ low-cost debt for expansion.
Asset Turnover Masks Working Capital Burden
The asset turnover ratio of 0.09, among the lowest in the peer group, is a commonly misapplied metric here as it obscures the primary operational risk: a Days Sales Outstanding (DSO) of 319 days, which ties up capital and drives cash flow volatility.
While low turnover is typical for asset-light models, PAYS's extremely high DSO suggests potential customer payment delays or longer contract terms that are consuming working capital. Analysts should instead focus on the cash conversion cycle and operating cash flow trends to assess true efficiency, as the static balance sheet metric fails to capture the dynamic funding requirements of rapid growth.