Latest Ratios: P/E Ratio 29.4x · EV/EBITDA 16.2x · ROE 8.5%. (2018–2025 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 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.4B | $1.9B | $698M | $467M | $706M | $858M | — | — | — |
| Enterprise Value | $1.2B | $788M | $-917067240 | $-1105740200 | $-793875080 | $-332813474 | — | — | — |
| P/E Ratio → | 29.45 | 5.96 | — | — | — | — | — | — | — |
| P/S Ratio | 0.46 | 0.09 | 0.04 | 0.04 | 0.07 | 0.11 | — | — | — |
| P/B Ratio | 2.40 | 0.48 | 0.19 | 0.13 | 0.18 | 0.13 | — | — | — |
| P/FCF | — | — | 1.20 | 2.94 | 0.86 | — | — | — | — |
| P/OCF | — | — | 1.09 | 1.91 | 0.80 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.04 | -0.06 | -0.09 | -0.08 | -0.04 | — | — | — |
| EV / EBITDA | 16.21 | 1.53 | -2.53 | -6.89 | — | — | — | — | — |
| EV / EBIT | 20.76 | 1.96 | -31.66 | — | — | — | — | — | — |
| EV / FCF | — | — | -1.57 | -6.97 | -0.97 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.3% | 12.3% | 19.9% | 20.3% | 23.0% | 26.3% | 25.7% | 19.2% | 14.1% |
| Operating Margin | 2.0% | 2.0% | 0.2% | -1.3% | -26.6% | -11.5% | -9.4% | -18.6% | -7.9% |
| Net Profit Margin | 1.6% | 1.6% | -0.1% | -1.2% | -25.0% | -10.5% | -9.7% | -17.9% | -6.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.5% | 8.5% | -0.2% | -4.1% | -47.9% | -133.8% | — | — | — |
| ROA | 5.9% | 5.9% | -0.2% | -3.0% | -39.3% | -12.8% | -9.4% | -23.4% | -16.9% |
| ROIC | 12.3% | 12.3% | 1.0% | -5.8% | -51.7% | -12.8% | — | — | — |
| ROCE | 10.3% | 10.3% | 0.8% | -4.4% | -49.0% | -16.7% | -11.4% | -31.3% | -40.1% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.10 | 0.10 | 0.10 | 0.11 | 0.05 | 0.03 | — | — | — |
| Debt / EBITDA | 0.76 | 0.76 | 0.98 | 2.53 | — | — | — | — | — |
| Net Debt / Equity | — | -0.29 | -0.44 | -0.42 | -0.39 | -0.19 | — | — | — |
| Net Debt / EBITDA | -2.22 | -2.22 | -4.45 | -9.81 | — | — | — | — | — |
| Debt / FCF | — | — | -2.77 | -9.91 | -1.83 | — | — | — | — |
| Interest Coverage | 68.55 | 68.55 | 1.93 | -20.03 | -416.53 | -53.35 | -23.20 | -58.11 | -31.03 |
Net cash position: cash ($1.5B) exceeds total debt ($393M)
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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.49 | 2.49 | 3.19 | 2.68 | 3.81 | 5.03 | 1.58 | 1.45 | 1.79 |
| Quick Ratio | 1.93 | 1.93 | 2.78 | 2.07 | 3.38 | 4.45 | 1.43 | 1.36 | 1.67 |
| Cash Ratio | 0.95 | 0.95 | 2.00 | 1.44 | 2.47 | 2.30 | 0.87 | 0.73 | 1.14 |
| Asset Turnover | — | 3.43 | 3.21 | 2.36 | 1.95 | 1.04 | 0.93 | 0.82 | 2.65 |
| Inventory Turnover | 16.71 | 16.71 | 24.46 | 10.16 | 17.53 | 11.98 | 20.40 | 48.45 | 37.24 |
| Days Sales Outstanding | — | 14.20 | 0.97 | 1.15 | 5.48 | 0.76 | 0.93 | 0.13 | 0.70 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.4% | 16.8% | — | — | — | — | — | — | — |
| FCF Yield | — | — | 83.5% | 34.0% | 116.2% | — | — | — | — |
| Buyback Yield | 0.9% | 4.6% | 26.4% | 34.3% | 30.9% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.9% | 4.6% | 26.4% | 34.3% | 30.9% | 0.0% | — | — | — |
| Shares Outstanding | — | $365M | $242M | $243M | $244M | $144M | $28M | $28M | $29M |
Thin operating margin sensitivity
According to current market data, RERE trades at a P/S ratio of 0.46, which suggests that investors are pricing the company as a low-margin specialty retailer rather than a high-growth technology platform, despite the reported 25.39% year-over-year revenue growth observed in recent financial filings.
The current P/E of 29.45 appears elevated relative to the company's razor-thin net margins, implying that the market is banking on significant future margin expansion rather than current earnings power. This valuation gap suggests that investors should monitor whether the company can successfully pivot toward higher-margin 3P marketplace services to justify these multiples.
Based on the provided financial data, RERE's ROIC has only recently turned positive, reaching 2.7% in 2025Q2, which indicates that the company's extensive investment in physical store infrastructure has historically struggled to generate returns exceeding the cost of capital compared to more asset-light digital marketplace peers.
The transition from negative ROIC in 2023 to positive territory suggests that the company is finally beginning to achieve the necessary scale to leverage its fixed costs. However, investors should remain cautious, as the current return levels remain well below the thresholds typically required to create long-term shareholder value in the consumer cyclical sector.
As reported in recent quarterly statements, the company's cash conversion cycle has fluctuated significantly, settling at 39 days in 2025Q2, which reflects the inherent logistical complexity of managing a high-volume inventory of pre-owned electronics across a vast network of physical inspection nodes and retail locations.
The relatively low days inventory outstanding of 18 days suggests that the company is effective at moving used devices through its system, which is critical given the rapid depreciation of consumer electronics. Continued monitoring of the DSO and DPO trends is warranted to ensure that the company maintains its leverage over suppliers and customers.
Based on the most recent balance sheet, RERE maintains a current ratio of 3.23, which indicates a robust liquidity position that provides a significant cushion against potential volatility in the Chinese consumer electronics market and supports the company's ongoing capital-intensive expansion of its AHS store network.
The company's ability to maintain such high liquidity while keeping debt levels minimal suggests a conservative financial policy that prioritizes operational flexibility over aggressive leverage. This liquidity buffer appears sufficient to navigate potential supply-side shocks or periods of reduced consumer demand without requiring external financing.
Investors frequently misapply headline revenue growth as a proxy for business health, failing to account for the accounting distinction between 1P product sales and 3P marketplace commissions, which obscures the true quality of earnings and the underlying profitability of the company's circular economy business model.
Relying on gross revenue figures can be misleading because a shift toward the 3P model would naturally slow headline growth while simultaneously improving net margins and capital efficiency. Analysts should instead focus on the 3P take rate and net margin trends to better assess the company's progress toward a more sustainable and scalable platform-based business.
Includes 30+ ratios · 8 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 RERE stock.
ATRenew Inc.'s current P/E ratio is 29.4x. The historical average is 6.0x. This places it at the 100th percentile of its historical range.
ATRenew Inc.'s current EV/EBITDA is 16.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.5x.
ATRenew Inc.'s return on equity (ROE) is 8.5%. The historical average is -35.5%.
Based on historical data, ATRenew Inc. is trading at a P/E of 29.4x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
ATRenew Inc. has 12.3% gross margin and 2.0% operating margin.
ATRenew Inc.'s Debt/EBITDA ratio is 0.8x, indicating low leverage. A ratio below 2x is generally considered financially healthy.