Latest Ratios: P/E Ratio 0.8x · EV/EBITDA N/A · ROE 3.6%. (2024–2025 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 |
|---|---|---|---|
| Market Cap | $5M | $7M | $2M |
| Enterprise Value | $5M | $7M | $872378 |
| P/E Ratio → | 0.75 | 1.04 | 0.80 |
| P/S Ratio | — | — | — |
| P/B Ratio | 0.02 | 0.03 | 0.01 |
| P/FCF | — | — | — |
| P/OCF | — | — | — |
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 |
|---|---|---|---|
| EV / Revenue | — | — | — |
| EV / EBITDA | — | — | 0.29 |
| EV / EBIT | — | — | 0.29 |
| 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 |
|---|---|---|---|
| Gross Margin | — | — | — |
| Operating Margin | — | — | — |
| Net Profit Margin | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| ROE | 3.6% | 3.6% | 1.4% |
| ROA | 3.5% | 3.5% | 1.3% |
| ROIC | -0.5% | -0.5% | — |
| ROCE | -0.6% | -0.6% | -0.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | — |
| Debt / EBITDA | — | — | — |
| Net Debt / Equity | — | 0.00 | -0.00 |
| Net Debt / EBITDA | — | — | -0.26 |
| Debt / FCF | — | — | — |
| Interest Coverage | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| Current Ratio | 0.85 | 0.85 | 3103.66 |
| Quick Ratio | 0.85 | 0.85 | 3103.66 |
| Cash Ratio | 0.25 | 0.25 | 10.57 |
| 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 |
|---|---|---|---|
| Dividend Yield | — | — | — |
| Payout Ratio | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 |
|---|---|---|---|
| Earnings Yield | 100.0% | 96.6% | 125.0% |
| FCF Yield | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $23M | $12M |
Liquidation and deal failure
Based on reported figures, POLEW trades at a P/B ratio of 0.02, which suggests that the market is heavily discounting the entity's book value as it approaches its liquidation deadline without a definitive business combination agreement to justify a premium valuation over the trust's net assets.
The extremely low P/B ratio indicates that investors are pricing the equity primarily as a claim on the remaining trust assets rather than as a growth vehicle. This valuation multiple appears consistent with the broader SPAC sector, where market participants often apply a significant discount to shells that have not yet identified a viable acquisition target.
As reported in financial statements, the current ratio has collapsed from 13.53 in 2024Q3 to 31.35 in 2026Q1, though this volatility masks a critical depletion of cash reserves that warrants further investigation into the entity's ability to sustain administrative operations without additional sponsor-led capital injections.
While the current ratio appears high, it is a misleading indicator for a shell company where the majority of assets are restricted in a trust account. The rapid decline in unrestricted cash suggests that the entity is nearing a point where it may struggle to cover basic public listing expenses, potentially forcing a premature liquidation.
According to recent SEC filings, POLEW's ROE has remained stagnant at approximately 0.8% in 2026Q1, which, when viewed alongside a negative ROIC, suggests that the entity is failing to generate any meaningful return on invested capital while it consumes its limited resources during the search phase.
The inability to generate positive ROIC is a structural feature of the SPAC model, as the entity lacks an operating business to deploy capital effectively. Investors should monitor whether management can pivot from this value-destructive phase to a value-accretive one by securing a target that offers superior returns on invested capital.
As indicated by the financial data, the P/E ratio of 0.68 is a fundamentally misapplied metric for POLEW, as it relies on non-operating income from warrant accounting rather than core earnings, thereby obscuring the reality that the company is currently a cash-burning entity with no commercial operations.
Using P/E to evaluate a pre-combination SPAC is misleading because it ignores the non-cash nature of warrant liabilities and the lack of recurring revenue. Analysts should instead focus on the 'cash-to-liquidation' ratio or the 'trust value per share' to better assess the downside protection and the intrinsic value of the shell.
Includes 30+ ratios · 2 years · Updated daily
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Quick answers to the most common questions about buying POLEW stock.
Andretti Acquisition Corp. II's current P/E ratio is 0.8x. The historical average is 0.9x.
Andretti Acquisition Corp. II's return on equity (ROE) is 3.6%. The historical average is 2.5%.
Based on historical data, Andretti Acquisition Corp. II is trading at a P/E of 0.8x. Compare with industry peers and growth rates for a complete picture.