Last 19 quarters of trend data · Communication Services · Internet Content & Information
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Reddit, Inc.'s quarterly P/E stands at 46.3x, down 55.8% year-over-year — suggesting improving earnings relative to price. EV/EBITDA has compressed 61.8% YoY to 48.4x, reflecting multiple compression or accelerating EBITDA.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 57.13 | 46.34 | 71.87 | 78.42 | 187.32 | 104.77 | 96.94 | — | — | — | — | — | — |
| — | -55.8% | -25.9% | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 3.51 | 16.07 | 19.93 | 14.09 | 12.32 | 17.23 | 8.24 | 9.41 | 8.29 | — | — | — | — |
| — | -6.7% | +141.9% | +49.8% | +48.6% | — | — | — | — | — | — | — | — | |
| P/B Ratio | 10.33 | 15.93 | 17.86 | 11.80 | 8.72 | 13.83 | 5.81 | 5.59 | 4.38 | — | — | — | — |
| — | +15.1% | +207.7% | +111.2% | +98.9% | — | — | — | — | — | — | — | — | |
| P/FCF | 11.30 | 44.23 | 63.66 | 63.54 | 38.17 | 82.64 | 40.84 | 97.33 | 68.94 | — | — | — | — |
| — | -46.5% | +55.9% | -34.7% | -44.6% | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 14.86 | 48.43 | 80.31 | 95.82 | 594.98 | 126.84 | 253.89 | — | — | — | — | — | — |
| — | -61.8% | -68.4% | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | 15.39 | 49.30 | 71.24 | 101.38 | 1199.11 | 136.82 | 400.91 | — | — | — | — | — | — |
| — | -64.0% | -82.2% | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Reddit, Inc.'s operating margin was 31.9% in Q4 2025, up 8.3 pp QoQ and up 19.6 pp YoY. This marks the 4th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of 17.5% lags the current quarter, suggesting the recent improvement is above-trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 91.2% | 91.9% | 91.0% | 90.8% | 90.5% | 92.6% | 90.1% | 89.5% | 88.6% | 88.4% | 87.3% | 83.6% | 85.8% |
| — | -0.7% | +1.1% | +1.5% | +2.2% | +4.7% | +3.2% | +7.1% | +3.3% | +5.8% | +5.7% | -1.3% | -1.5% | |
| Operating Margin | 20.1% | 31.9% | 23.7% | 13.6% | 1.0% | 12.4% | 2.0% | -11.0% | -242.5% | 1.2% | -9.4% | -43.1% | -14.8% |
| — | +158.5% | +1103.8% | +222.8% | +100.4% | +924.0% | +120.8% | +74.4% | -1537.7% | +104.1% | +75.1% | -79.0% | -464.0% | |
| Net Margin | 24.1% | 34.7% | 27.8% | 17.9% | 6.7% | 16.6% | 8.6% | -3.6% | -236.7% | 7.4% | -3.6% | -37.2% | -11.1% |
| — | +108.8% | +224.5% | +597.6% | +102.8% | +123.8% | +340.9% | +90.3% | -2034.3% | +128.1% | +90.5% | -54.0% | -394.8% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.9% | 9.1% | 6.5% | 3.9% | 1.2% | 3.5% | 1.5% | -0.5% | -35.1% | 1.3% | -0.5% | -4.1% | -1.5% |
| — | +162.7% | +322.1% | +816.7% | +103.4% | +164.8% | +400.0% | +86.9% | -2229.9% | +143.0% | +85.9% | -82.0% | -451.2% | |
| ROA | 19.0% | 8.2% | 5.9% | 3.5% | 1.1% | 3.2% | 1.4% | -0.5% | -31.8% | 1.2% | -0.5% | -4.0% | -1.4% |
| — | +161.1% | +320.2% | +813.8% | +103.4% | +168.0% | +388.4% | +87.5% | -2196.0% | +141.7% | +85.8% | -84.4% | -439.9% | |
| ROIC | 18.4% | 9.3% | 6.1% | 3.1% | 0.2% | 2.6% | 0.3% | -2.0% | -45.1% | 0.2% | -0.8% | -2.8% | -2.1% |
| — | +261.5% | +1639.0% | +255.9% | +100.4% | +1068.9% | +144.4% | +28.9% | -2000.3% | +105.6% | +83.3% | +41.3% | -187.6% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Reddit, Inc.'s Debt/EBITDA ratio is 0.1x, down from 0.3x last quarter — comfortably within a safe range. The current ratio has weakened 8.5% YoY to 11.56x, tightening the short-term liquidity position.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | — | 0.01 |
| — | -36.8% | +21.3% | -29.0% | -12.7% | -29.9% | -27.4% | — | +3.8% | +23.8% | +172.3% | — | +54.0% | |
| Debt / EBITDA | 0.05 | 0.10 | 0.30 | 0.35 | 3.38 | 0.47 | 2.49 | — | — | 3.80 | — | — | — |
| — | -79.0% | -87.8% | — | — | -87.7% | — | — | — | — | — | — | — | |
| Current Ratio | 11.56 | 11.56 | 12.13 | 12.00 | 12.46 | 12.63 | 11.96 | 12.42 | 12.27 | 11.08 | 10.74 | — | 13.94 |
| — | -8.5% | +1.4% | -3.4% | +1.6% | +14.0% | +11.4% | — | -12.0% | -20.8% | -36.7% | — | -38.7% | |
| Quick Ratio | 11.56 | 11.56 | 12.13 | 12.00 | 12.46 | 12.63 | 11.96 | 12.42 | 12.27 | 11.08 | 10.74 | — | 13.94 |
| — | -8.5% | +1.4% | -3.4% | +1.6% | +14.0% | +11.4% | — | -12.0% | -20.8% | -36.7% | — | -38.7% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 19 years · Updated daily
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Start ComparisonReddit, Inc.'s current P/E is 57.1x. The average P/E over the last 4 quarters is 96.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Reddit, Inc.'s current operating margin is 20.1%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Reddit, Inc.'s business trajectory between earnings reports.