Latest Ratios: P/E Ratio -4.0x · EV/EBITDA 11.9x · ROE N/A. (2018–2025 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 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $837M | $1.5B | $2.6B | $3.2B | $3.4B | $7.1B | — | — | — |
| Enterprise Value | $2.8B | $3.4B | $4.5B | $4.7B | $5.2B | $8.6B | — | — | — |
| P/E Ratio → | -4.00 | — | 15.77 | 13.63 | 12.33 | 23.05 | — | — | — |
| P/S Ratio | 0.30 | 0.54 | 1.01 | 1.25 | 1.31 | 2.75 | — | — | — |
| P/B Ratio | — | — | — | — | — | — | — | — | — |
| P/FCF | 1.57 | 2.80 | 5.75 | 6.62 | 8.91 | 15.72 | — | — | — |
| P/OCF | 1.47 | 2.62 | 5.27 | 6.20 | 6.92 | 12.88 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.25 | 1.77 | 1.83 | 1.98 | 3.34 | — | — | — |
| EV / EBITDA | 11.86 | 14.61 | 8.10 | 7.11 | 8.18 | 12.19 | — | — | — |
| EV / EBIT | 2153.87 | — | 10.36 | 8.59 | 10.83 | 15.47 | — | — | — |
| EV / FCF | — | 6.49 | 10.05 | 9.72 | 13.50 | 19.07 | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.5% | 72.5% | 72.9% | 72.0% | 71.9% | 71.8% | 70.0% | 70.0% | 70.7% |
| Operating Margin | 0.0% | 0.0% | 15.4% | 19.5% | 18.0% | 21.8% | 16.3% | 26.4% | 29.0% |
| Net Profit Margin | -7.5% | -7.5% | 6.4% | 9.2% | 10.5% | 11.9% | 3.9% | 15.3% | 22.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — | 72.7% |
| ROA | -5.6% | -5.6% | 4.8% | 8.0% | 10.0% | 13.5% | 5.7% | 23.2% | 33.3% |
| ROIC | 0.1% | 0.1% | 19.1% | 30.5% | 30.3% | 47.5% | 45.7% | 77.4% | 99.4% |
| ROCE | 0.0% | 0.0% | 13.7% | 20.6% | 21.1% | 33.4% | 37.6% | 66.1% | 74.6% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | 0.35 |
| Debt / EBITDA | 11.21 | 11.21 | 4.48 | 3.83 | 4.00 | 3.58 | 4.73 | 4.42 | 0.35 |
| Net Debt / Equity | — | — | — | — | — | — | — | — | -0.30 |
| Net Debt / EBITDA | 8.32 | 8.32 | 3.47 | 2.27 | 2.78 | 2.14 | 3.71 | 3.95 | -0.29 |
| Debt / FCF | — | 3.69 | 4.30 | 3.09 | 4.59 | 3.36 | 4.47 | 5.64 | -0.35 |
| Interest Coverage | -1.43 | -1.43 | 2.81 | 3.56 | 4.07 | 3.74 | 1.98 | 8.14 | 227.68 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.10 | 1.10 | 1.56 | 2.50 | 2.22 | 2.34 | 1.18 | 0.86 | 1.25 |
| Quick Ratio | 1.10 | 1.10 | 1.56 | 2.50 | 2.22 | 2.30 | 1.14 | 0.83 | 1.21 |
| Cash Ratio | 0.85 | 0.85 | 1.01 | 1.91 | 1.66 | 1.96 | 0.81 | 0.48 | 0.69 |
| Asset Turnover | — | 0.74 | 0.70 | 0.81 | 0.97 | 0.92 | 1.34 | 1.28 | 1.47 |
| Inventory Turnover | — | — | — | — | 432.76 | 32.11 | 33.44 | 32.92 | 28.38 |
| Days Sales Outstanding | — | 21.43 | 26.86 | 24.39 | 19.69 | 20.31 | 19.90 | 24.31 | 39.64 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 18.1% | 10.1% | 4.3% | — | 17.7% | — | — | — | — |
| Payout Ratio | — | — | 68.7% | — | 219.2% | — | — | 818.9% | 118.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 6.3% | 7.3% | 8.1% | 4.3% | — | — | — |
| FCF Yield | 63.5% | 35.7% | 17.4% | 15.1% | 11.2% | 6.4% | — | — | — |
| Buyback Yield | 2.4% | 1.4% | 0.0% | 0.1% | 17.7% | 0.0% | — | — | — |
| Total Shareholder Yield | 20.6% | 11.5% | 4.3% | 0.1% | 35.4% | 0.0% | — | — | — |
| Shares Outstanding | — | $376M | $372M | $367M | $402M | $411M | $385M | $410M | $410M |
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying PLTK stock.
Playtika Holding Corp.'s current P/E ratio is -4.0x. The historical average is 16.2x.
Playtika Holding Corp.'s current EV/EBITDA is 11.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.0x.
Based on historical data, Playtika Holding Corp. is trading at a P/E of -4.0x. Compare with industry peers and growth rates for a complete picture.
Playtika Holding Corp.'s current dividend yield is 18.14%.
Playtika Holding Corp. has 72.5% gross margin and 0.0% operating margin.
Playtika Holding Corp.'s Debt/EBITDA ratio is 11.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Margin compression and high leverage
Metrics are mathematically derived from official filings.
Margin Compression Below the Gross Line
Gross margin held at 73.6% in Q2 2026, but operating margin fell to 18.4% from 22.4% a year earlier, per reported figures, indicating cost pressures are concentrated in SG&A.
The stability of gross margin at roughly 72-74% over the past ten quarters confirms that platform fees are the structural cap, but the collapse in operating margin to 18.4% in Q2 2026 from 22.4% in Q2 2024 suggests that user acquisition and overhead costs are absorbing the benefits of revenue growth. Net margin swung to 6.6% in Q2 2026 from a loss in Q4 2025, but the negative TTM net margin of -7.5% reflects the impact of a large impairment charge in Q4 2025. Investors should monitor whether the elevated SG&A, which reached 42% of revenue in Q2 2026, is a temporary investment phase or a permanent shift in the cost structure.
ROIC Recovery After Impairment Distortion
ROIC rebounded to 6.8% in Q2 2026 from -12.3% in Q4 2025, according to financial statements, but remains below the 7.0% peak in Q2 2024, suggesting a slow recovery in capital efficiency.
The sharp swing in ROIC from -12.3% in Q4 2025 to 6.8% in Q2 2026 is largely attributable to the non-cash impairment charge that depressed earnings in Q4 2025, rather than a fundamental improvement in operations. Excluding that distortion, ROIC has hovered in the 3-7% range over the past two years, indicating that the company is generating returns only modestly above its cost of capital. The negative equity position of -$399.9M complicates the interpretation of ROE, but the positive ROIC suggests that operating assets are still generating value, albeit at a level that may not justify the current leverage.
Working Capital Efficiency Holds Steady
DSO improved to 22 days in Q2 2026 from 25 days a year earlier, while DPO extended to 41 days, per reported data, indicating stable working capital management despite revenue growth.
The slight improvement in DSO to 22 days and the extension of DPO to 41 days suggest that Playtika is managing its receivables and payables efficiently, though the absence of DIO data limits a full cash conversion cycle assessment. The current ratio of 1.14 in Q2 2026 is down from 3.25 in Q3 2024, reflecting a deliberate drawdown of cash and an increase in current liabilities, which may indicate a tighter liquidity position. The stable asset turnover of approximately 0.20x over the past ten quarters suggests that the company's asset base, dominated by goodwill and intangibles, is not generating incremental revenue per dollar of assets.
Leverage Elevated with Coverage Thin
D/EBITDA stood at 11.17x in Q2 2026, down from 22.68x in Q1 2026, but interest coverage of 2.81x remains thin, per reported figures, indicating limited cushion for debt service.
The dramatic improvement in D/EBITDA from 22.68x in Q1 2026 to 11.17x in Q2 2026 is primarily due to the recovery in EBITDA from the impairment-affected Q4 2025, but the ratio remains high relative to peers and historical levels. Interest coverage of 2.81x in Q2 2026, while improved from negative levels in Q1 2026, suggests that operating income is barely sufficient to cover interest expense, leaving little room for adverse shocks. The negative equity position of -$399.9M and total debt of $2.5B, per the balance sheet, indicate a highly leveraged capital structure that may constrain financial flexibility.
Liquidity Cushion Thins Rapidly
Current ratio fell to 1.14 in Q2 2026 from 3.25 in Q3 2024, while cash dropped to $438.5M from $684.2M, per balance sheet data, indicating a shrinking buffer against operational shocks.
The rapid decline in the current ratio from 3.25 to 1.14 over eight quarters suggests that Playtika has been deploying its cash reserves to fund operations, dividends, and debt service, leaving a thinner liquidity cushion. The quick ratio of 1.14 in Q2 2026, which equals the current ratio due to minimal inventory, indicates that the company relies heavily on cash and receivables to meet short-term obligations. While the $438.5M cash balance provides some near-term support, the negative operating cash flow in Q2 2026 and the high debt load suggest that liquidity could become strained if margins do not recover.
Misapplied P/E Obscures Earnings Power
The negative TTM P/E of -4.56 is misleading given the one-time impairment in Q4 2025; forward P/E of 5.56 and EV/EBITDA of 12.36, per reported data, better reflect normalized earnings.
The most commonly misapplied ratio for Playtika is the P/E ratio, which is distorted by the large non-cash impairment charge in Q4 2025 that drove net income negative. Investors should instead focus on EV/EBITDA, which at 12.36x TTM and 4.82x forward, suggests that the market is pricing in a significant recovery in EBITDA, but also reflects the high debt load. The forward P/E of 5.56 implies that the market expects earnings to normalize, but the sustainability of that recovery depends on whether the margin compression is cyclical or structural. A more appropriate valuation metric would be EV/EBITDAR or a cash-flow-based multiple, given the company's high leverage and the volatility of reported earnings.