Latest Ratios: P/E Ratio -1.5x · EV/EBITDA N/A · ROE N/A. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $130M | $73M | $286M | $663M | $633M | — |
| Enterprise Value | $149M | $92M | $295M | $671M | $656M | — |
| P/E Ratio → | -1.48 | — | — | — | — | — |
| P/S Ratio | 2.93 | 1.64 | 6.13 | 48.86 | 63.41 | — |
| P/B Ratio | — | — | — | — | — | — |
| 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 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.07 | 6.32 | 49.47 | 65.69 | — |
| EV / EBITDA | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| Gross Margin | 57.5% | 57.5% | 61.2% | 60.1% | 51.9% | -16.8% |
| Operating Margin | -137.3% | -137.3% | -166.2% | -85.0% | -62.5% | -325.3% |
| Net Profit Margin | -164.5% | -164.5% | -213.3% | -103.4% | -97.5% | -1342.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — |
| ROA | -160.7% | -160.7% | -271.9% | -90.3% | -59.1% | -91.5% |
| ROIC | — | — | — | — | — | — |
| ROCE | — | — | — | -266.4% | -73.9% | -56.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | -21.50 | -21.50 | -42.60 | -17.35 | -216.71 | -610.90 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.47 | 0.47 | 0.76 | 0.32 | 0.84 | 0.54 |
| Quick Ratio | 0.47 | 0.47 | 0.76 | 0.32 | 0.83 | 0.54 |
| Cash Ratio | 0.09 | 0.09 | 0.18 | 0.04 | 0.16 | 0.45 |
| Asset Turnover | — | 1.36 | 0.80 | 0.89 | 0.63 | 0.07 |
| Inventory Turnover | 92.99 | 92.99 | 256.59 | 90.38 | 87.05 | 7391.33 |
| Days Sales Outstanding | — | 72.74 | 42.81 | 68.13 | 75.59 | 218.35 |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $70M | $44M | $63M | $63M | $25M |
Insolvency and liquidity crisis
Based on reported financial data, Roadzen trades at a price-to-sales multiple of 3.05, which appears difficult to justify given the recent 5.2% revenue decline and the absence of a clear path to positive earnings as indicated by the negative TTM P/E ratio of -1.54.
The current valuation multiple suggests that the market may be pricing in a speculative recovery that is not yet supported by the underlying financial trajectory. Investors should monitor whether this premium reflects an expectation of future software-driven margin expansion or if it is merely a residual effect of the company's SPAC-related entry into public markets.
As reported in recent financial statements, Roadzen maintains a gross margin of 57.48%, yet this is overshadowed by a deeply negative operating margin of -137.29%, suggesting that the company's current cost structure is fundamentally misaligned with its ability to generate scalable revenue from its platform.
While the gross margin indicates a potential software-led business model, the persistent operating losses imply that fixed costs, particularly R&D and administrative overhead, remain excessive relative to current scale. This disparity warrants further investigation into whether the company can achieve operating leverage or if the business model is structurally incapable of reaching profitability.
According to the company's reported figures, the cash conversion cycle remains deeply negative, with a DSO of 86 days and a DPO of 245 days, indicating that Roadzen relies heavily on delaying payments to suppliers to manage its precarious working capital position.
The reliance on extended payables to manage cash flow suggests limited bargaining power with service providers and potential operational fragility. Investors should monitor whether these payment terms are sustainable or if a tightening of supplier credit could trigger a liquidity event given the company's limited cash reserves.
Based on the most recent quarterly filings, Roadzen's current ratio of 0.54 highlights a severe liquidity shortfall, as the company's cash reserves appear insufficient to cover its short-term obligations and ongoing operating burn in the face of a contracting revenue base.
The current ratio, which has consistently remained below unity, suggests that the company is operating with a structural deficit in liquid assets. This position leaves little room for error and may necessitate dilutive capital raises, which would further impact shareholder value in the absence of a turnaround in cash generation.
Analysts frequently misapply traditional SaaS revenue multiples to Roadzen, which obscures the reality that a significant portion of the company's revenue is derived from lower-margin, transactional roadside assistance services rather than high-margin, recurring software licensing fees.
By treating the company as a pure-play software entity, investors may overlook the high variable costs and operational intensity inherent in the service-aggregator model. A more appropriate approach would involve adjusting valuation multiples to account for the lower quality of revenue and the significant capital requirements needed to maintain the physical service network.
Includes 30+ ratios · 5 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying RDZN stock.
Roadzen, Inc.'s current P/E ratio is -1.5x. This places it at the 50th percentile of its historical range.
Based on historical data, Roadzen, Inc. is trading at a P/E of -1.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Roadzen, Inc. has 57.5% gross margin and -137.3% operating margin.