Latest Ratios: P/E Ratio 65.1x · EV/EBITDA 36.8x · ROE 8.9%. (2002–2025 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 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.3B | $3.0B | $4.4B | $3.5B | $1.9B | $1.3B | — | — | — | — | — |
| Enterprise Value | $3.9B | $2.7B | $4.0B | $3.3B | $1.6B | $855M | — | — | — | — | — |
| P/E Ratio → | 65.13 | 44.52 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.60 | 1.84 | 3.48 | 3.72 | 2.94 | 2.73 | — | — | — | — | — |
| P/B Ratio | 5.06 | 3.46 | 6.60 | 6.63 | 4.00 | 2.61 | — | — | — | — | — |
| P/FCF | 14.38 | 10.16 | 24.85 | — | — | — | — | — | — | — | — |
| P/OCF | 13.08 | 9.24 | 22.59 | — | — | — | — | — | — | — | — |
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 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.64 | 3.20 | 3.53 | 2.49 | 1.86 | — | — | — | — | — |
| EV / EBITDA | 36.83 | 25.12 | — | — | — | — | — | — | — | — | — |
| EV / EBIT | 48.12 | 33.83 | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 9.07 | 22.86 | — | — | — | — | — | — | — | — |
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 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.1% | 57.1% | 59.2% | 56.4% | 50.0% | 48.3% | 47.1% | 42.1% | 4.4% | 5.3% | 6.5% |
| Operating Margin | 5.0% | 5.0% | -3.1% | -12.1% | -18.5% | -8.7% | -11.4% | -40.0% | -9.6% | -5.5% | 1.5% |
| Net Profit Margin | 4.2% | 4.2% | -2.9% | -12.5% | -17.4% | -8.5% | -12.7% | -40.6% | -9.0% | -8.3% | -2.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.9% | 8.9% | -6.2% | -23.3% | -23.7% | -11.8% | -22.3% | -293.9% | — | -117.9% | -27.9% |
| ROA | 5.5% | 5.5% | -3.6% | -13.6% | -17.3% | -7.8% | -10.4% | -12.0% | -19.5% | -15.3% | -7.7% |
| ROIC | 14.2% | 14.2% | -8.9% | -31.9% | -66.8% | -37.3% | -69.1% | — | -73.3% | -13.2% | 5.7% |
| ROCE | 9.4% | 9.4% | -5.8% | -19.8% | -24.9% | -11.9% | -19.3% | -21.0% | -30.7% | -13.4% | 5.3% |
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 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.25 | 0.25 | 0.02 | 0.27 | 0.02 | 0.01 | 0.49 | 0.46 | — | 10.67 | 2.22 |
| Debt / EBITDA | 2.06 | 2.06 | — | — | — | — | — | — | — | — | 4.96 |
| Net Debt / Equity | — | -0.37 | -0.53 | -0.34 | -0.61 | -0.83 | -0.57 | -1.11 | — | 9.86 | 1.97 |
| Net Debt / EBITDA | -3.02 | -3.02 | — | — | — | — | — | — | — | — | 4.40 |
| Debt / FCF | — | -1.09 | -1.99 | — | — | — | — | -105.50 | — | — | 4.19 |
| Interest Coverage | 10.41 | 10.41 | -8.33 | -46.59 | -85.77 | -29.03 | -25.41 | -30.80 | -642.00 | -1.99 | -0.22 |
Net cash position: cash ($542M) exceeds total debt ($220M)
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 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.30 | 3.30 | 2.73 | 2.54 | 3.20 | 4.29 | 1.90 | 1.72 | 1.32 | 1.74 | 1.75 |
| Quick Ratio | 3.30 | 3.30 | 2.73 | 2.54 | 3.20 | 4.29 | 1.90 | 1.72 | 0.85 | 1.02 | 1.10 |
| Cash Ratio | 2.08 | 2.08 | 1.12 | 0.88 | 1.44 | 2.85 | 1.03 | 1.26 | 0.14 | 0.17 | 0.23 |
| Asset Turnover | — | 1.12 | 1.25 | 0.91 | 0.94 | 0.73 | 0.71 | 0.48 | 2.27 | 1.94 | 1.63 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 12.00 | 10.01 | 10.58 |
| Days Sales Outstanding | — | 63.94 | 61.51 | 153.78 | 106.89 | 53.50 | 72.06 | 85.14 | 33.21 | 25.82 | 24.60 |
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 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.5% | 2.2% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 7.0% | 9.8% | 4.0% | — | — | — | — | — | — | — | — |
| Buyback Yield | 1.2% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 1.2% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
| Shares Outstanding | — | $218M | $195M | $181M | $168M | $61M | $152M | $21M | $29M | $29M | $29M |
Includes 30+ ratios · 21 years · Updated daily
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10-year return with dividends reinvested.
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Quick answers to the most common questions about buying RELY stock.
Remitly Global, Inc.'s current P/E ratio is 65.1x. The historical average is 44.5x. This places it at the 100th percentile of its historical range.
Remitly Global, Inc.'s current EV/EBITDA is 36.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.1x.
Remitly Global, Inc.'s return on equity (ROE) is 8.9%. The historical average is -16.6%.
Based on historical data, Remitly Global, Inc. is trading at a P/E of 65.1x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Remitly Global, Inc. has 57.1% gross margin and 5.0% operating margin.
Remitly Global, Inc.'s Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
SBC dilution and tax volatility
Metrics are mathematically derived from official filings.
Margin Expansion Drives Profitability Inflection
Gross margin expanded to 62.1% in 2026Q2 from 59.1% in 2024Q1, while operating margin swung from -7.4% to 13.5%, per reported financials, signaling a structural shift to profitability.
The operating margin improvement from a -7.4% loss in 2024Q1 to a 13.5% profit in 2026Q2 reflects operating leverage as revenue growth normalizes. However, net margin of 41.6% in 2026Q2 far exceeds operating margin, implying a significant non-operating tax benefit that inflates reported profitability. Investors should monitor the sustainability of these margins excluding one-time items, as the underlying earning power appears closer to the operating margin level.
ROIC Inflects Sharply from Negative Territory
ROIC improved from -3.9% in 2024Q1 to 12.7% in 2026Q2, according to financial statements, indicating a rapid transition from value destruction to value creation, driven by margin expansion rather than asset efficiency.
The ROIC trajectory is striking: it was negative in early 2024, turned positive in 2025, and reached 12.7% by 2026Q2. This improvement is primarily margin-driven, as asset turnover has remained relatively stable around 0.3x. The company appears to be compounding returns on invested capital, though the sustainability of this level depends on maintaining operating margins above 10% and avoiding excessive capital intensity.
Working Capital Efficiency Improves with DSO Decline
DSO fell to 80 days in 2026Q2 from 144 days in 2024Q1, per reported figures, indicating improved receivables collection, while DPO rose to 17 days, suggesting modest supplier leverage.
The sharp reduction in DSO from 144 to 80 days over the period reflects better collections or a shift in product mix, which has contributed to stronger cash conversion. However, the cash conversion cycle remains incomplete due to unavailable DIO data, and the negative DPO relative to DSO suggests the company is still financing some working capital needs. The asset-light model is evident in the low asset turnover, but efficiency gains in receivables are a positive sign for cash generation.
Deleveraging Accelerates with Debt Repayment
D/E fell to 0.03 in 2026Q2 from 0.30 in 2024Q1, while interest coverage improved to 21.5x, according to balance sheet data, indicating a de-risked capital structure.
Total debt dropped to $38.3M in 2026Q2 from $220.3M in 2025Q4, driving D/E to near zero and interest coverage to 21.5x. This deleveraging appears to be a deliberate strategy to strengthen the balance sheet, reducing refinancing risk. The low leverage provides financial flexibility, but investors should note that the 2025Q4 D/EBITDA of 4.8x was elevated, suggesting the debt repayment was recent and may have been a priority.
Liquidity Buffer Strengthens with Cash Accumulation
Current ratio improved to 3.18 in 2026Q2 from 2.46 in 2024Q2, while cash reached $676M, per balance sheet data, providing a robust cushion against operational shocks.
The current ratio of 3.18 and quick ratio of 3.18 (with no inventory) indicate a strong liquidity position, well above the 2.0x threshold typically considered healthy. Cash now represents 42% of total assets, underscoring the asset-light model's ability to generate and retain cash. Under severe stress, this buffer appears sufficient to cover near-term obligations, though the reliance on customer float and regulatory requirements in the remittance business warrants monitoring.
P/E Misleading Due to Tax and SBC Distortions
The trailing P/E of 74.65 is distorted by a one-time tax benefit and heavy SBC, per income statement analysis, obscuring true earnings power; forward P/E of 22.70 may be more indicative.
The most commonly misapplied ratio for Remitly is the P/E ratio, as reported net income in 2026Q2 includes a significant non-operating tax benefit that inflates EPS. Additionally, SBC of $62.0M in 2026Q2 is a non-cash charge that reduces reported earnings but is added back in cash flow metrics. Investors should use EV/EBITDA or P/FCF (16.48x) to assess valuation, as these better capture the underlying cash-generating ability. The forward P/E of 22.70 suggests the market is pricing in continued earnings growth, but the quality of those earnings requires scrutiny.