Latest Ratios: P/E Ratio -0.3x · EV/EBITDA 3.5x · ROE 35.0%. (2007–2025 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 | $42M | $76.4B | $107M | $46M | $681491 | $15M | $2M | $9M | $14M | $11M | $12M |
| Enterprise Value | $412M | $76.8B | $148M | $33M | $7M | $17M | $5M | $10M | $15M | $10M | $9M |
| P/E Ratio → | -0.28 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.20 | 358.68 | 15.73 | — | — | — | — | 0.84 | 1.12 | 0.72 | 0.54 |
| P/B Ratio | 129.01 | 587.21 | 2.03 | 1.13 | — | 3.50 | — | — | — | — | 5.95 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | 0.27 | 496.70 | — | — | — | — | — | — | — | — | — |
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 | — | 360.41 | 21.82 | — | — | — | — | 1.02 | 1.24 | 0.68 | 0.40 |
| EV / EBITDA | 3.50 | 651.50 | — | — | 36.96 | — | — | — | — | — | — |
| EV / EBIT | 5.98 | 934.18 | — | — | — | — | — | — | — | — | — |
| 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 | 56.9% | 56.9% | 70.5% | — | — | -10.9% | -80.9% | -4.8% | 21.5% | 0.1% | 28.8% |
| Operating Margin | 32.4% | 32.4% | -390.1% | 13551.6% | 75.2% | 2261.0% | 1012.6% | -18.1% | -7.7% | -36.4% | -5.2% |
| Net Profit Margin | 15.0% | 15.0% | -601.9% | 64819.7% | 75.2% | 2144.3% | 863.5% | -21.0% | -21.4% | -39.1% | -6.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 35.0% | 35.0% | -88.0% | -470.1% | — | -411.4% | — | — | — | — | -92.1% |
| ROA | 5.8% | 5.8% | -40.4% | -300.6% | -4.6% | -217.6% | -63.3% | -76.1% | -101.3% | -130.7% | -25.0% |
| ROIC | 17.2% | 17.2% | -28.5% | -61.5% | -7.1% | -345.4% | — | — | — | -943.1% | -39.9% |
| ROCE | 15.1% | 15.1% | -39.6% | -97.2% | -117.5% | -1317.2% | — | — | — | — | -53.1% |
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 | 2.85 | 2.85 | 0.88 | 0.00 | — | 1.31 | — | — | — | — | 0.50 |
| Debt / EBITDA | 3.14 | 3.14 | — | — | 34.66 | — | — | — | — | — | — |
| Net Debt / Equity | — | 2.85 | 0.78 | -0.32 | — | 0.65 | — | — | — | — | -1.63 |
| Net Debt / EBITDA | 3.14 | 3.14 | — | — | 33.35 | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 2.88 | 2.88 | -33.91 | -507.37 | -0.75 | -15.34 | -3.55 | -6.10 | -0.56 | -13.51 | -55.95 |
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 | 0.63 | 0.63 | 0.29 | 2.50 | 0.38 | 1.79 | 0.31 | 0.42 | 0.29 | 0.44 | 2.05 |
| Quick Ratio | 0.63 | 0.63 | 0.29 | 2.50 | 0.38 | 1.79 | 0.31 | 0.42 | 0.29 | 0.44 | 2.05 |
| Cash Ratio | 0.00 | 0.00 | 0.08 | 2.41 | 0.02 | 0.46 | 0.27 | 0.36 | 0.14 | 0.28 | 1.61 |
| Asset Turnover | — | 0.23 | 0.04 | -0.00 | -0.09 | -0.06 | -0.08 | 2.97 | 5.49 | 4.99 | 3.89 |
| 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 | 1.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $45.2B | $15M | $5M | $428611 | $166433 | $122736 | $122736 | $120519 | $119936 | $92357 |
Includes 30+ ratios · 19 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying PROP stock.
Prairie Operating Co.'s current P/E ratio is -0.3x. The historical average is 43.1x.
Prairie Operating Co.'s current EV/EBITDA is 3.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 35.3x.
Prairie Operating Co.'s return on equity (ROE) is 35.0%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -163.3%.
Based on historical data, Prairie Operating Co. is trading at a P/E of -0.3x. Compare with industry peers and growth rates for a complete picture.
Prairie Operating Co. has 56.9% gross margin and 32.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Prairie Operating Co.'s Debt/EBITDA ratio is 3.1x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Extreme earnings volatility and thin equity
Metrics are mathematically derived from official filings.
Valuation Disconnected from Fundamentals
With a P/B of 347.46 and a negative P/E, the market prices PROP at a premium that implies extraordinary future returns, yet reported ROE of 133.1% in 2026Q2 is likely unsustainable, per financial statements.
The current P/B of 347.46 is extreme, especially when compared to peers like CIVI at 0.41 and TPVG at 0.62. This suggests the market is pricing in a dramatic turnaround or asset revaluation, but the negative P/E and historical losses indicate that such expectations are speculative. The forward P/E of 0.91 is meaningless given the earnings volatility, and investors should rely on tangible book value trends, which have been near zero in recent quarters.
ROE Spike Masks Underlying Weakness
Reported ROE swung from -23.2% in 2024Q1 to 133.1% in 2026Q2, but this is driven by a $301M net income swing, not sustainable operations, as per quarterly data.
The DuPont decomposition reveals that the 133.1% ROE in 2026Q2 is not from core banking activities: NIM is negative, and fee income constitutes 99.8% of revenue, indicating non-interest income is the sole driver. The equity base is thin (equity-to-assets of 0.22), amplifying ROE volatility. This suggests that the reported profitability is not repeatable and may be distorted by one-off items, warranting caution in using ROE as a performance measure.
Negative NIM and Efficiency Paradox
NIM has been negative for five consecutive quarters, reaching -0.8% in 2026Q1, while the efficiency ratio improved to 20.6%, indicating that cost control cannot offset a structurally unprofitable funding model, per reported figures.
The negative NIM indicates that funding costs exceed asset yields, a critical flaw for a bank. The efficiency ratio improvement from 74.0% to 20.6% is misleading because it is driven by revenue growth from non-interest income, not operational efficiency in core banking. This suggests that the bank is not generating sufficient interest income to cover its cost of funds, and the reliance on fee income may not be sustainable.
Equity Cushion Dangerously Thin
Equity-to-assets fell from 0.81 in 2024Q1 to 0.22 in 2026Q2, with equity swinging from $400K to $223M, indicating unstable capital adequacy, as per balance sheet data.
The equity-to-assets ratio of 0.22 is far below the typical bank level of 8-10%, and the volatility in equity (from $400K to $223M) suggests that capital is not stable. This thin cushion provides little protection against asset quality deterioration, especially given the surge in loan loss provisions to $31.8M in 2026Q1. The bank's capacity for capital return is negligible, and it may need to raise capital to meet regulatory minimums if losses materialize.
Provision Surge Signals Deterioration
Loan loss provisions escalated from $2.0M in 2024Q4 to $31.8M in 2026Q1, while charge-offs are undisclosed, suggesting potential asset quality stress, based on reported financial data.
The rapid increase in provisions is a red flag, indicating that the bank expects significant credit losses. However, without charge-off data, the actual loss experience is unclear. The negative NIM and reliance on fee income may be masking underlying asset quality problems. Investors should monitor the provision coverage ratio and NPL trends, but the lack of disclosure limits analysis.
P/E Misleading for Bank Valuation
The P/E ratio is commonly misapplied to banks, but for PROP, the negative and volatile earnings make P/E meaningless; instead, P/TBV and ROTCE should be used, as per industry practice.
For banks, P/E is distorted by provision volatility and non-recurring items. PROP's P/E of -0.74 and forward P/E of 0.91 are not informative given the $301M earnings swing. The correct approach is to use P/TBV, which is near zero, and ROTCE, which is also volatile. The market's P/B of 347.46 implies an expectation of massive future profitability, but the negative NIM and thin capital suggest this is speculative. Investors should focus on tangible book value and the sustainability of fee income.