Latest Ratios: P/E Ratio -0.5x · EV/EBITDA N/A · ROE -211.0%. (2014–2025 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 | $5M | $4M | $8M | $37M | $116M | $319M | $362M | $169M | $343M | $356M | $474M |
| Enterprise Value | $10M | $10M | $14M | $44M | $119M | $315M | $364M | $169M | $339M | $343M | $458M |
| P/E Ratio → | -0.50 | — | — | — | — | — | — | — | — | — | 108.02 |
| P/S Ratio | 0.79 | 0.67 | 0.57 | 2.45 | 7.24 | 18.87 | 40.08 | 6.80 | 14.26 | 24.67 | 20.78 |
| P/B Ratio | 31.76 | 29.46 | 0.94 | 2.84 | 6.40 | 13.71 | 31.50 | 9.18 | 15.32 | 15.55 | 20.04 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | 1025.88 |
| P/OCF | — | — | — | — | — | — | — | — | — | — | 755.79 |
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 | — | 1.52 | 1.03 | 2.90 | 7.38 | 18.65 | 40.35 | 6.82 | 14.08 | 23.77 | 20.09 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | 60.17 |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | 62.09 |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | 991.48 |
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 | -50.1% | -50.1% | 9.4% | 4.5% | 13.2% | 20.4% | -62.3% | 19.8% | 30.9% | 33.6% | 44.7% |
| Operating Margin | -126.4% | -126.4% | -31.3% | -39.2% | -34.5% | -18.3% | -143.6% | -16.1% | -4.6% | -5.0% | 32.5% |
| Net Profit Margin | -144.9% | -144.9% | -33.5% | -42.8% | -34.7% | -19.0% | -120.4% | -16.9% | -3.5% | -5.4% | 19.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -211.0% | -211.0% | -43.1% | -41.7% | -26.9% | -18.5% | -72.8% | -20.6% | -3.7% | -3.3% | 34.0% |
| ROA | -65.3% | -65.3% | -21.9% | -26.5% | -21.7% | -14.3% | -52.6% | -17.2% | -3.4% | -3.0% | 28.0% |
| ROIC | -58.5% | -58.5% | -18.7% | -22.1% | -20.7% | -13.8% | -59.1% | -16.2% | -5.9% | -6.1% | 99.4% |
| ROCE | -174.5% | -174.5% | -36.4% | -36.0% | -26.3% | -16.7% | -76.1% | -18.0% | -4.7% | -3.1% | 56.4% |
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 | 38.62 | 38.62 | 0.81 | 0.57 | 0.13 | 0.06 | 0.36 | 0.18 | 0.05 | 0.01 | 0.01 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | 0.05 |
| Net Debt / Equity | — | 37.23 | 0.75 | 0.53 | 0.12 | -0.15 | 0.22 | 0.03 | -0.20 | -0.57 | -0.67 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | -2.09 |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | -34.40 |
| Interest Coverage | -11.68 | -11.68 | -6.21 | -10.71 | -95.28 | -22.57 | -215.83 | -38.27 | -51.71 | -41.50 | 65.54 |
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 | 0.97 | 0.97 | 1.82 | 2.15 | 3.92 | 7.41 | 3.24 | 6.98 | 11.91 | 15.79 | 9.37 |
| Quick Ratio | 0.06 | 0.06 | 0.32 | 0.54 | 1.32 | 4.75 | 1.23 | 1.92 | 7.53 | 12.06 | 7.60 |
| Cash Ratio | 0.02 | 0.02 | 0.06 | 0.05 | 0.04 | 1.50 | 0.36 | 1.03 | 2.92 | 8.83 | 5.93 |
| Asset Turnover | — | 0.60 | 0.80 | 0.61 | 0.66 | 0.62 | 0.51 | 1.05 | 0.95 | 0.59 | 0.86 |
| Inventory Turnover | 1.00 | 1.00 | 0.98 | 0.88 | 0.90 | 1.49 | 1.61 | 1.43 | 1.96 | 1.72 | 2.61 |
| Days Sales Outstanding | — | 19.11 | 56.25 | 106.52 | 114.05 | 151.87 | 143.36 | 13.75 | 128.15 | 93.35 | 70.50 |
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 | — | — | — | — | — | — | — | — | — | — | 0.9% |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | 0.1% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $3M | $3M | $13M | $13M | $13M | $11M | $10M | $10M | $10M | $8M |
Imminent liquidity depletion risk
As reported in recent financial filings, Polar Power trades at a price-to-sales ratio of 0.74, a multiple that appears to reflect the market's skepticism regarding the company's ability to return to profitability rather than any underlying growth potential in its specialized DC power systems.
The lack of meaningful P/E or EV/EBITDA multiples underscores the company's status as a distressed asset where traditional valuation metrics fail to capture the risk of insolvency. Investors should monitor whether the current P/B ratio of 29.46 is supported by tangible assets or if it is merely a byproduct of an eroded equity base that warrants further investigation.
Based on the company's reported figures, ROIC has remained consistently negative or near zero over the last ten quarters, suggesting that Polar Power has failed to generate any meaningful economic value from its invested capital while struggling to maintain its core manufacturing operations.
The persistent inability to achieve positive returns on capital suggests that the company's business model is fundamentally misaligned with its cost structure. This trend appears to be driven by a combination of declining margins and inefficient asset utilization, which may indicate that the firm is destroying shareholder value rather than compounding it.
According to the latest quarterly data, the company's cash conversion cycle remains exceptionally high, peaking at 1099 days in 2026Q1, which highlights a severe inability to manage inventory and receivables effectively in a low-volume production environment.
The extreme duration of the cash conversion cycle suggests that capital is trapped in slow-moving inventory, which may be subject to future write-downs. This inefficiency forces the company to rely on external financing to bridge the gap between production costs and customer payments, further exacerbating its liquidity constraints.
As indicated by the most recent financial statements, the quick ratio has plummeted to 0.18, signaling that the company lacks the liquid assets necessary to cover its immediate obligations without relying on the liquidation of potentially obsolete inventory.
The rapid deterioration of the quick ratio suggests that the company's ability to meet short-term liabilities is severely compromised. Investors should monitor the company's cash runway closely, as the current liquidity position appears insufficient to support ongoing operations without immediate and potentially dilutive capital injections.
Market participants often misapply the price-to-sales ratio to Polar Power, failing to recognize that in a business with negative gross margins, revenue growth actually accelerates the rate of cash burn rather than signaling future profitability or market share dominance.
Using P/S as a primary valuation tool obscures the reality that the company is currently losing money on every unit sold. A more appropriate metric for this business model would be cash burn per unit or a liquidity-adjusted enterprise value, which would better reflect the existential risks posed by the current cost structure.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying POLA stock.
Polar Power, Inc.'s current P/E ratio is -0.5x. The historical average is 108.0x.
Polar Power, Inc.'s return on equity (ROE) is -211.0%. The historical average is -30.2%.
Based on historical data, Polar Power, Inc. is trading at a P/E of -0.5x. Compare with industry peers and growth rates for a complete picture.
Polar Power, Inc. has -50.1% gross margin and -126.4% operating margin.