Latest Ratios: P/E Ratio -30.7x · EV/EBITDA N/A · ROE -8.3%. (2001–2025 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 | $167M | $169M | $131M | $122M | $133M | $193M | $146M | $65M | $19M | $82M | $222M |
| Enterprise Value | $167M | $169M | $128M | $115M | $121M | $215M | $181M | $94M | $73M | $186M | $287M |
| P/E Ratio → | -30.70 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 2.34 | 2.84 | 2.63 | 2.57 | 2.59 | 9.90 | — | — | — | — | 0.53 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | 31.18 | 134.96 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -8.3% | -8.3% | -9.6% | -11.4% | -22.5% | -171.2% | — | — | — | -288.4% | -4.7% |
| ROA | -7.9% | -7.9% | -9.1% | -10.9% | -15.2% | -29.6% | -18.2% | -39.1% | -53.2% | -184.1% | -4.1% |
| ROIC | -6.9% | -6.9% | -8.3% | -11.0% | -11.7% | -17.2% | -13.8% | -11.0% | -26.3% | -1.9% | -0.9% |
| ROCE | -8.6% | -8.6% | -9.7% | -11.6% | -17.1% | -30.9% | -15.7% | -12.3% | -53.1% | -2.8% | -1.2% |
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 | 0.00 | 0.00 | 0.01 | 0.01 | 0.00 | 1.43 | — | — | — | — | 0.19 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.00 | -0.07 | -0.14 | -0.24 | 1.12 | — | — | — | — | 0.15 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -3.72 | -1.51 | -0.22 | -0.92 | -1.20 | -1688.26 | -39.40 |
Net cash position: cash ($417000) exceeds total debt ($258000)
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 | 15.38 | 15.38 | 4.67 | 5.52 | 11.39 | 0.22 | 0.44 | 0.92 | 3.17 | 1.21 | 0.53 |
| Quick Ratio | 15.38 | 15.38 | 4.67 | 5.52 | 11.39 | 0.22 | 0.44 | 0.99 | 3.17 | 1.21 | 0.53 |
| Cash Ratio | 14.93 | 14.93 | 4.09 | 5.11 | 11.00 | 0.20 | 0.30 | 0.80 | 2.83 | 0.05 | 0.38 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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 | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $105M | $102M | $100M | $90M | $72M | $62M | $33M | $19M | $13M | $8M |
Imminent liquidity and dilution
Based on reported figures, the company trades at a P/B of 2.34, which appears to incorporate a significant development discount relative to peers, reflecting market skepticism regarding the Waterberg Project's path to production and the inherent risks of its pre-revenue status in a volatile PGM market.
The negative P/E ratio is a natural consequence of the firm's pre-revenue status, rendering traditional earnings-based valuation metrics irrelevant for assessing intrinsic value. Investors should monitor the P/B ratio closely, as it suggests the market is pricing the company primarily on its capitalized exploration assets rather than any near-term cash-generating potential.
As reported in financial statements, the company has consistently generated negative ROIC, with figures hovering around -2.1% in 2026Q2, illustrating that the firm is currently destroying capital as it funds exploration and administrative overhead without any offsetting operational income to drive positive returns on invested capital.
The persistent negative ROIC trend suggests that the company's capital allocation is currently focused on survival and project advancement rather than value creation. This trajectory warrants further investigation into whether the eventual production efficiencies of the Waterberg deposit can realistically overcome the current erosion of shareholder equity.
According to recent SEC filings, the company's current ratio has fluctuated wildly, reaching 26.75 in 2026Q2, yet this metric is misleading as it masks the absolute depletion of cash reserves to approximately $417,000, leaving the firm with minimal cushion to navigate severe operational or macroeconomic stress.
While the high current ratio might appear to suggest a strong liquidity position, it is largely a function of the company's specific balance sheet structure rather than actual cash availability. Investors should interpret this as a sign of extreme vulnerability, as the firm lacks the liquid assets necessary to sustain long-term development without external financing.
The most commonly misapplied ratio for this business model is the P/E ratio, which, as indicated by the company's -30.70 TTM figure, fails to capture the firm's value as a development-stage asset and instead incorrectly suggests a failing operational business rather than a project-based exploration entity.
Analysts should prioritize Net Present Value (NPV) of the Waterberg Project over traditional accounting ratios, as the latter are distorted by the capitalization of exploration costs and the absence of revenue. Relying on P/E or EBITDA-based multiples in this context may lead to a fundamental misunderstanding of the company's risk-reward profile.
Includes 30+ ratios · 25 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying PLG stock.
Platinum Group Metals Ltd.'s current P/E ratio is -30.7x. The historical average is 6.7x.
Platinum Group Metals Ltd.'s return on equity (ROE) is -8.3%. The historical average is -34.7%.
Based on historical data, Platinum Group Metals Ltd. is trading at a P/E of -30.7x. Compare with industry peers and growth rates for a complete picture.