Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE -2623.7%. (2008–2025 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.7B | $3.4B | $248641 | $624220 | $598948 | $5M | $6M | $479478 | $2M | $130005 | $82546 |
| Enterprise Value | $4.7B | $3.4B | $19M | $9M | $50M | $-4589117 | $7M | $2M | $2M | $284426 | $680394 |
| P/E Ratio → | -0.21 | — | — | — | — | — | — | — | — | 1.45 | 1.43 |
| P/S Ratio | 421.85 | 304.53 | 0.00 | 0.01 | 0.02 | 0.19 | 0.65 | 0.05 | 1.73 | 0.06 | 0.05 |
| P/B Ratio | 3407.87 | 5074.69 | — | 0.03 | — | 0.17 | 14.49 | — | — | — | — |
| P/FCF | — | — | 0.01 | 0.02 | — | — | — | — | 25.81 | 0.28 | — |
| P/OCF | — | — | 0.01 | 0.02 | — | — | — | — | 17.09 | 0.28 | — |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 304.15 | 0.33 | 0.13 | 1.52 | -0.17 | 0.82 | 0.23 | 2.13 | 0.13 | 0.40 |
| EV / EBITDA | — | — | — | — | — | — | — | — | 150.52 | 1.38 | 5.49 |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | 5.81 |
| EV / FCF | — | — | 0.89 | 0.27 | — | — | — | — | 31.68 | 0.62 | — |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.7% | 47.7% | 40.0% | 39.0% | 49.0% | 61.7% | 43.4% | -10.9% | 25.7% | 49.8% | 52.4% |
| Operating Margin | -84.6% | -84.6% | -37.3% | -18.7% | -115.0% | -111.0% | -59.9% | -56.1% | 0.7% | 9.2% | 6.6% |
| Net Profit Margin | -157.5% | -157.5% | -47.9% | -80.6% | -149.6% | -134.1% | -58.7% | -46.8% | -3.8% | 4.2% | 3.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2623.7% | -2623.7% | -243.9% | -492.4% | -357.5% | -236.3% | -1299.8% | — | — | — | — |
| ROA | -25.9% | -25.9% | -21.4% | -46.9% | -46.5% | -55.9% | -40.6% | -71.4% | -7.3% | 57.2% | 34.3% |
| ROIC | -105.9% | -105.9% | -64.4% | -23.3% | -84.1% | -201.2% | — | — | 2.5% | — | — |
| ROCE | -86.3% | -86.3% | -67.5% | -23.6% | -50.2% | -64.7% | -953.8% | — | 6.9% | — | 957.5% |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.68 | 4.68 | — | 0.87 | — | 2.70 | 3.63 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | 50.00 | 1.18 | 5.09 |
| Net Debt / Equity | — | -6.43 | — | 0.35 | — | -0.32 | 3.63 | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | 27.88 | 0.75 | 4.82 |
| Debt / FCF | — | — | 0.87 | 0.25 | — | — | — | — | 5.87 | 0.34 | — |
| Interest Coverage | -7.10 | -7.10 | -7.23 | -2.21 | -1.22 | -6.16 | -2.32 | -5.61 | -29.99 | -9.96 | 5.29 |
Net cash position: cash ($7M) exceeds total debt ($3M)
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.11 | 1.11 | 0.92 | 1.05 | 1.61 | 3.98 | 1.02 | 0.69 | 1.14 | 0.16 | 0.56 |
| Quick Ratio | 1.11 | 1.11 | 0.92 | 1.05 | 1.60 | 3.97 | 1.02 | 0.69 | 2.58 | 0.17 | 0.56 |
| Cash Ratio | 0.89 | 0.89 | 0.03 | 0.14 | 0.38 | 3.67 | — | — | 0.43 | 0.13 | 0.29 |
| Asset Turnover | — | 0.85 | 0.46 | 0.51 | 0.34 | 0.23 | 0.70 | 0.81 | 1.21 | 11.24 | 13.94 |
| Inventory Turnover | — | — | — | — | 55.58 | 35.16 | — | — | — | — | — |
| Days Sales Outstanding | — | 36.53 | 7.59 | 75.88 | 95.20 | 92.84 | 432.57 | 2.56 | 20.04 | — | 6.30 |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | 68.8% | 70.0% |
| FCF Yield | — | — | 8503.8% | 5295.1% | — | — | — | — | 3.9% | 353.9% | — |
| Buyback Yield | 0.0% | 0.0% | 92.1% | 0.0% | 100.0% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 92.1% | 0.0% | 100.0% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $597M | $191262 | $150053 | $130206 | $116309 | $85340 | $79913 | $77448 | $72225 | $68788 |
Insolvency and liquidity crisis
As reported in recent financial filings, Ryvyl's price-to-sales ratio of 421.85 suggests that the market is pricing the firm based on speculative recovery potential rather than current fundamentals, given the massive 80% revenue contraction observed over the trailing twelve-month period.
The extreme P/S multiple indicates that traditional valuation metrics are currently disconnected from the company's underlying business reality. Investors should monitor whether this premium is driven by the perceived value of blockchain intellectual property or if it represents a mispricing of a distressed asset facing significant solvency headwinds.
Based on reported figures, Ryvyl's return on invested capital has trended into deeply negative territory, reaching -37.1% in 2025Q2, which highlights the company's inability to generate meaningful returns on the capital deployed into its proprietary ledger infrastructure.
The persistent decay in ROIC suggests that the firm's investments in technology and acquisitions have failed to produce a competitive moat or operational scale. This trend warrants further investigation into whether the company can ever achieve positive capital returns without a fundamental restructuring of its cost base.
According to quarterly financial statements, Ryvyl's asset turnover has remained stagnant at approximately 0.15, indicating that the company is struggling to generate revenue from its remaining asset base as it navigates a period of severe operational contraction.
The low asset turnover ratio suggests that the firm's infrastructure is significantly underutilized relative to its current transaction volume. Investors should monitor the cash conversion cycle, as the erratic nature of accounts payable and receivable turnover may indicate underlying friction in merchant settlement processes.
As evidenced by the company's financial statements, the debt-to-equity ratio of 4.68 in 2025Q4 underscores a precarious reliance on leverage, which appears increasingly unsustainable as the equity base continues to erode due to persistent net losses.
The high leverage ratio, combined with negative interest coverage, suggests that the company may face significant challenges in servicing its obligations without further dilutive financing. This level of indebtedness limits management's ability to pivot the business model during this period of extreme revenue volatility.
Based on an analysis of the business model, the P/E ratio is the most commonly misapplied metric for Ryvyl, as it obscures the company's current lack of profitability and the structural volatility inherent in its blockchain-based payment processing operations.
Using P/E to value a firm with negative earnings and a contracting revenue base provides a misleading sense of valuation. Analysts should instead focus on the cash burn rate and the sustainability of the take rate, as these metrics provide a more accurate assessment of the company's survival prospects.
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying RVYL stock.
Ryvyl Inc.'s current P/E ratio is -0.2x. The historical average is 1.3x.
Ryvyl Inc.'s return on equity (ROE) is -2623.7%. The historical average is -332.5%.
Based on historical data, Ryvyl Inc. is trading at a P/E of -0.2x. Compare with industry peers and growth rates for a complete picture.
Ryvyl Inc. has 47.7% gross margin and -84.6% operating margin.