Latest Ratios: P/E Ratio -17.0x · EV/EBITDA N/A · ROE -41.7%. (1996–2025 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 | $10.3B | $14.8B | $6.8B | $9.9B | $11.0B | $19.8B | $23.0B | $25.9B | $16.7B | $24.0B | $28.5B |
| Enterprise Value | $21.9B | $26.4B | $20.0B | $23.5B | $25.4B | $32.8B | $41.4B | $45.7B | $34.9B | $33.9B | $37.3B |
| P/E Ratio → | -16.98 | — | — | — | 10.48 | 4.39 | 9.51 | 7.83 | 8.51 | 67.05 | 22.64 |
| P/S Ratio | 0.35 | 0.51 | 0.23 | 0.33 | 0.36 | 0.69 | 0.91 | 0.96 | 1.15 | 1.75 | 2.16 |
| P/B Ratio | 0.82 | 1.15 | 0.40 | 0.43 | 0.46 | 0.86 | 1.43 | 1.95 | 1.59 | 12.14 | 7.73 |
| P/FCF | 32.02 | 45.97 | 13.88 | 67.20 | — | 33.00 | 11.69 | 29.53 | 13.21 | 34.21 | 19.14 |
| P/OCF | 21.33 | 30.61 | 9.02 | 20.80 | 50.10 | 20.74 | 10.04 | 21.05 | 11.68 | 27.07 | 16.91 |
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 | — | 0.90 | 0.68 | 0.79 | 0.84 | 1.15 | 1.64 | 1.69 | 2.41 | 2.48 | 2.83 |
| EV / EBITDA | — | — | 9.98 | — | 9.23 | 4.91 | 9.05 | 9.97 | 2.36 | 10.99 | 13.10 |
| EV / EBIT | — | — | — | — | 11.54 | 5.30 | 9.90 | 10.92 | 6.77 | 6.33 | 14.12 |
| EV / FCF | — | 81.68 | 40.81 | 160.09 | — | 54.77 | 20.99 | 52.10 | 27.69 | 48.28 | 25.04 |
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 | 33.5% | 33.5% | 28.3% | 24.5% | 34.2% | 37.9% | 40.7% | 38.1% | 37.2% | 38.4% | 39.6% |
| Operating Margin | -18.0% | -18.0% | 5.5% | -1.5% | 7.8% | 22.0% | 16.4% | 15.4% | 19.1% | 20.9% | 19.9% |
| Net Profit Margin | -21.2% | -21.2% | -21.2% | -3.5% | 3.7% | 15.9% | 9.6% | 12.3% | 13.5% | 2.6% | 9.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -41.7% | -41.7% | -31.1% | -4.5% | 4.7% | 23.3% | 16.5% | 27.8% | 31.4% | 12.6% | 27.3% |
| ROA | -13.8% | -13.8% | -12.4% | -2.0% | 1.9% | 8.2% | 4.7% | 9.3% | 9.2% | 1.6% | 5.3% |
| ROIC | -14.5% | -14.5% | 3.6% | -0.9% | 4.7% | 13.4% | 9.2% | 10.0% | 10.1% | 17.6% | 15.0% |
| ROCE | -15.2% | -15.2% | 4.0% | -1.0% | 4.9% | 13.5% | 9.8% | 15.4% | 18.2% | 15.3% | 12.9% |
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 | 1.15 | 1.15 | 0.94 | 0.70 | 0.73 | 0.84 | 1.33 | 1.54 | 1.82 | 5.14 | 2.54 |
| Debt / EBITDA | — | — | 7.92 | — | 6.29 | 2.89 | 4.67 | 4.46 | 1.29 | 3.30 | 3.29 |
| Net Debt / Equity | — | 0.90 | 0.78 | 0.59 | 0.61 | 0.57 | 1.14 | 1.49 | 1.74 | 4.99 | 2.38 |
| Net Debt / EBITDA | — | — | 6.59 | — | 5.24 | 1.95 | 4.01 | 4.32 | 1.23 | 3.20 | 3.08 |
| Debt / FCF | — | 35.71 | 26.94 | 92.90 | — | 21.77 | 9.31 | 22.57 | 14.48 | 14.07 | 5.89 |
| Interest Coverage | -6.18 | -6.18 | -6.18 | -0.36 | 2.52 | 6.39 | 4.01 | 4.31 | 2.69 | 2.63 | 6.38 |
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 | 1.26 | 1.26 | 1.30 | 1.32 | 1.23 | 1.76 | 1.66 | 1.32 | 0.81 | 1.58 | 1.64 |
| Quick Ratio | 1.12 | 1.12 | 1.15 | 1.17 | 1.11 | 1.60 | 1.45 | 1.00 | 0.57 | 1.12 | 1.25 |
| Cash Ratio | 0.31 | 0.31 | 0.28 | 0.25 | 0.26 | 0.66 | 0.36 | 0.07 | 0.04 | 0.07 | 0.16 |
| Asset Turnover | — | 0.67 | 0.63 | 0.55 | 0.52 | 0.49 | 0.48 | 0.55 | 0.66 | 0.66 | 0.54 |
| Inventory Turnover | 13.30 | 13.30 | 14.66 | 15.83 | 14.79 | 11.80 | 8.53 | 5.94 | 4.58 | 4.62 | 5.58 |
| Days Sales Outstanding | — | 82.65 | 86.46 | 87.58 | 89.72 | 89.18 | 101.29 | 92.43 | 181.04 | 98.55 | 91.87 |
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 | 0.9% | 0.6% | 2.0% | 3.9% | 5.8% | 3.1% | 2.6% | 2.3% | 3.6% | 1.2% | 1.0% |
| Payout Ratio | — | — | — | — | 57.2% | 13.6% | 24.8% | 18.0% | 30.6% | 82.9% | 22.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 9.5% | 22.8% | 10.5% | 12.8% | 11.8% | 1.5% | 4.4% |
| FCF Yield | 3.1% | 2.2% | 7.2% | 1.5% | — | 3.0% | 8.6% | 3.4% | 7.6% | 2.9% | 5.2% |
| Buyback Yield | 0.9% | 0.6% | 0.0% | 0.0% | 0.3% | 0.0% | 0.3% | 0.2% | 3.5% | 4.6% | 10.5% |
| Total Shareholder Yield | 1.7% | 1.2% | 2.0% | 3.9% | 6.0% | 3.1% | 2.9% | 2.5% | 7.1% | 5.9% | 11.5% |
| Shares Outstanding | — | $1.1B | $664M | $652M | $650M | $655M | $618M | $617M | $381M | $407M | $448M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying PSKY stock.
Paramount Skydance Corporation Class B Common Stock's current P/E ratio is -17.0x. The historical average is 18.7x.
Paramount Skydance Corporation Class B Common Stock's return on equity (ROE) is -41.7%. The historical average is 2.7%.
Based on historical data, Paramount Skydance Corporation Class B Common Stock is trading at a P/E of -17.0x. Compare with industry peers and growth rates for a complete picture.
Paramount Skydance Corporation Class B Common Stock's current dividend yield is 0.85%.
Paramount Skydance Corporation Class B Common Stock has 33.5% gross margin and -18.0% operating margin.
Key Metrics
Top Statement Risk
High leverage and negative margins
Metrics are mathematically derived from official filings.
Margin Volatility Masks Transition Costs
PSKY's gross margin swung from 37.0% in 2025Q4 to 6.9% in 2026Q2, while operating margin turned negative at -18.0% in 2025Q4, reflecting content amortization timing and merger-related charges, according to reported financials.
The dramatic gross margin collapse in 2026Q2 appears to be a timing artifact of content amortization, as the prior quarter's 37.0% was unsustainably high. The negative operating margin of -18.0% in 2025Q4, versus a positive 9.5% in 2026Q1, suggests that non-cash impairments and restructuring costs are distorting underlying profitability. Investors should focus on cash-based metrics like FCF margin, which remained positive but thin at 3.7% in 2026Q2, to gauge true earning power.
ROIC Stalls Near Zero
ROIC has hovered between -0.5% and 2.0% over the past ten quarters, with 2025Q4's -21.1% driven by a massive goodwill impairment, indicating that the company is not generating returns above its cost of capital, based on reported figures.
Excluding the impairment-distorted 2025Q4, ROIC has remained below 2% for most quarters, which is far below the weighted average cost of capital for a media conglomerate. This suggests that the capital employed in the business is not being deployed efficiently, and the recent Skydance integration has yet to demonstrate value creation. The negative ROE in several quarters, including -27.6% in 2024Q2, further underscores the erosion of shareholder equity.
Working Capital Cycle Lengthens
PSKY's cash conversion cycle expanded from 59 days in 2024Q2 to 89 days in 2026Q2, driven by a sharp increase in DSO to 79 days and a decline in DPO to 8 days, according to the latest quarterly data.
The elongation of the cash conversion cycle suggests that PSKY is taking longer to collect receivables and paying suppliers faster, which may indicate weakening negotiating power with distributors and content partners. The DPO drop from 55 days in 2024Q2 to 8 days in 2026Q2 is particularly striking, as it implies a shift in payment terms that could strain liquidity. Asset turnover remains low at 0.16, reflecting the heavy asset base required for content production and distribution.
Leverage Creeps Higher as Debt Persists
Debt-to-equity rose from 0.71 in 2024Q1 to 1.18 in 2026Q2, while interest coverage fell to 2.0x in 2026Q2, indicating that debt service is becoming less comfortable, as reported in financial statements.
The rising D/E ratio, combined with a declining interest coverage ratio, suggests that PSKY's earnings are increasingly insufficient to cover interest expenses. The D/EBITDA of 18.06 in 2026Q2 is alarmingly high, though this is partly due to depressed EBITDA from the impairment quarter. With the WBD acquisition potentially adding up to $110 billion in debt, the balance sheet appears strained, and investors should monitor deleveraging progress closely.
Liquidity Buffer Thins
PSKY's current ratio fell from 1.26 in 2025Q4 to 1.04 in 2026Q2, while cash dropped from $3.3 billion to $1.6 billion, indicating a shrinking liquidity cushion, based on reported balance sheet data.
The quick ratio of 0.88 in 2026Q2 suggests that PSKY may struggle to cover short-term obligations without relying on inventory or content assets, which are not readily convertible to cash. The declining cash balance, coupled with negative operating margins, implies that the company may need to access capital markets or asset sales to fund operations. Under a severe stress scenario, such as an advertising downturn, the current liquidity position appears vulnerable.
P/E Misleads on Earnings Power
The trailing P/E of -16.41 is meaningless given negative earnings, while the forward P/E of 17.62 relies on optimistic projections; instead, EV/EBITDA or P/FCF should be used, but EV/EBITDA is unavailable, so P/FCF of 30.95 is more telling.
The negative trailing P/E reflects the impairment-driven losses, while the forward P/E assumes a rapid earnings recovery that may not materialize given the structural challenges. The P/FCF of 30.95 indicates that the market is paying a premium for cash flow that is thin and volatile, with FCF margins below 4% in all quarters. Investors should adjust for content amortization and use a normalized EBITDA or cash flow metric to value PSKY, as the reported earnings are heavily distorted by non-cash charges.