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Latest Ratios: P/E Ratio -3.1x · EV/EBITDA N/A · ROE N/A. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $538M | $60M | $74M | $57M | $105M | $154M | $370M | $133M | $85M | $126M | $237M |
| Enterprise Value | $676M | $198M | $190M | $151M | $179M | $272M | $446M | $295M | $221M | $239M | $352M |
| P/E Ratio → | -3.07 | — | — | — | — | 4.01 | — | — | — | — | 63.27 |
| P/S Ratio | 1.92 | 0.22 | 0.27 | 0.18 | 0.25 | 0.40 | 1.06 | 0.33 | 0.21 | 0.29 | 0.48 |
| P/B Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | 37.41 |
| P/OCF | — | — | — | — | — | — | — | — | — | — | 27.72 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.71 | 0.69 | 0.48 | 0.42 | 0.71 | 1.27 | 0.73 | 0.55 | 0.55 | 0.71 |
| EV / EBITDA | — | — | — | — | — | 43.96 | 31.60 | 11.55 | — | — | 28.65 |
| EV / EBIT | — | — | — | — | — | 5.27 | — | 14.06 | — | — | 27.79 |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | 55.54 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 36.9% | 36.9% | 40.1% | 40.1% | 33.9% | 41.1% | 43.1% | 42.8% | 41.6% | 39.5% | 41.6% |
| Operating Margin | -5.9% | -5.9% | -15.2% | -9.3% | -4.0% | -0.8% | 2.4% | 5.3% | -1.2% | -6.5% | 1.4% |
| Net Profit Margin | -36.1% | -36.1% | -42.0% | -13.2% | -4.4% | 10.0% | -10.1% | -1.3% | -10.6% | -9.9% | -0.5% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — | — | — | — |
| ROA | -64.7% | -64.7% | -67.1% | -20.6% | -8.8% | 19.3% | -19.6% | -3.1% | -22.8% | -20.3% | -1.1% |
| ROIC | — | — | — | — | — | — | — | — | — | — | — |
| ROCE | — | — | — | — | -41.3% | -10.6% | 38.6% | 1979.8% | — | — | 29.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | 19.92 | 7.33 | 6.59 | — | — | 10.40 |
| Net Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | 19.08 | 5.33 | 6.34 | — | — | 9.35 |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | 18.13 |
| Interest Coverage | -3.64 | -3.64 | -3.84 | -1.69 | -0.56 | 4.34 | -0.28 | 0.83 | -0.92 | -2.98 | 1.59 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.55 | 0.55 | 0.40 | 0.53 | 0.97 | 0.82 | 0.98 | 0.86 | 0.86 | 0.86 | 0.82 |
| Quick Ratio | 0.47 | 0.47 | 0.31 | 0.42 | 0.69 | 0.49 | 0.68 | 0.54 | 0.65 | 0.59 | 0.61 |
| Cash Ratio | 0.08 | 0.08 | 0.06 | 0.10 | 0.16 | 0.03 | 0.18 | 0.04 | 0.06 | 0.05 | 0.06 |
| Asset Turnover | — | 1.78 | 1.76 | 1.66 | 1.98 | 1.90 | 1.79 | 2.43 | 2.33 | 2.16 | 2.19 |
| Inventory Turnover | 10.96 | 10.96 | 7.32 | 6.78 | 6.23 | 3.91 | 4.15 | 4.64 | 6.27 | 4.70 | 6.06 |
| Days Sales Outstanding | — | 90.93 | 69.92 | 79.41 | 62.66 | 66.02 | 76.33 | 63.74 | 86.82 | 80.35 | 85.91 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 24.9% | — | — | — | — | 1.6% |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | 2.7% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.0% | 0.0% |
| Shares Outstanding | — | $13M | $5M | $5M | $5M | $3M | $2M | $2M | $2M | $2M | $2M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying QMCO stock.
Quantum Corporation's current P/E ratio is -3.1x. The historical average is 47.3x.
Based on historical data, Quantum Corporation is trading at a P/E of -3.1x. Compare with industry peers and growth rates for a complete picture.
Quantum Corporation has 36.9% gross margin and -5.9% operating margin.
Key Metrics
Top Statement Risk
Persistent negative equity and net losses
Metrics are mathematically derived from official filings.
Gross Margin Recovery Insufficient for Net Profitability
Quantum's gross margin has recovered to 39.3% in Q1 2027, but this remains structurally below peers and is insufficient to cover operating expenses, resulting in a net margin of -192.2% due to massive non-operational charges.
The recent improvement in operating margin to 6.2% in Q1 2027, driven by SG&A discipline, is a positive signal. However, the persistent and severe net losses, exemplified by the -192.2% net margin, indicate that non-cash charges or restructuring costs are overwhelming the core operational performance. This suggests the company's true earning power is not yet reflected in its bottom line, and investors should focus on the operating margin trajectory as a better indicator of underlying business health.
Deleveraging Achieved, But Coverage Remains Negative
Quantum has dramatically reduced its debt load, with D/EBITDA falling to 1.43x in Q1 2027, yet interest coverage remains deeply negative at -72.72x, indicating that operating earnings are still insufficient to service even the minimal remaining interest expense.
The sharp reduction in total debt from over $150M to under $9M is a major de-risking event that has improved the balance sheet's structural profile. However, the persistently negative interest coverage ratio, despite the lower debt, underscores that the company's core operations are not yet generating sufficient earnings to cover financial costs. This implies the deleveraging was likely a strategic priority to create a cleaner slate for a turnaround, but the business must now demonstrate it can generate positive operating income consistently.
Cash Surge Provides Buffer, But Quick Ratio Lags
Quantum's current ratio improved to 0.93 in Q1 2027, but the quick ratio of 0.83 suggests that a significant portion of current assets is tied up in inventory, which may not be readily convertible to cash under stress.
The surge in cash to $54.4M has provided a critical liquidity buffer, as noted in prior balance sheet analysis. However, the quick ratio remaining below 1.0 indicates that excluding inventory, the company's most liquid assets do not fully cover its short-term liabilities. This suggests that while the immediate liquidity crisis has been averted by the cash infusion, the company's ability to meet obligations without relying on inventory sales or further financing remains tight and warrants monitoring.
Working Capital Cycle Shows Improvement but Remains Long
Quantum's cash conversion cycle has shortened to 54 days in Q1 2027 from a peak of 107 days in Q4 2024, driven by a significant reduction in days inventory outstanding, which suggests improved inventory management.
The reduction in DIO from 76 days to 29 days over the past year is a notable operational improvement, indicating better inventory turnover and potentially reduced obsolescence risk. However, the overall CCC remains elevated compared to efficient hardware peers, and the DSO of 77 days suggests that collecting cash from customers is still a lengthy process. This combination implies that while internal processes are improving, the company may still face working capital pressure if revenue growth stalls.
The Misleading Signal of a Low P/S Ratio
Quantum's P/S ratio of 1.91x appears low relative to peers, but this metric is misleading for a company with negative equity, persistent net losses, and a business model reliant on deferred revenue, as it ignores the significant capital structure and profitability risks.
The price-to-sales ratio is often used for unprofitable growth companies, but it obscures the critical issues at Quantum. The company's negative equity and history of massive net losses mean that sales are not translating into shareholder value in a traditional sense. Furthermore, with deferred revenue representing over half of total liabilities, a significant portion of the 'sales' figure is pre-collected cash for future services, making P/S an unreliable proxy for valuation. A more appropriate metric would be an enterprise value-based multiple that accounts for the company's debt and cash position, or a focus on the path to positive free cash flow.