Latest Ratios: P/E Ratio -41.2x · EV/EBITDA N/A · ROE -42.9%. (2016–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $12.1B | $8.8B | — | — | — | — | — | — | — | — | — |
| Enterprise Value | $11.8B | $8.5B | — | — | — | — | — | — | — | — | — |
| P/E Ratio → | -41.17 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 11.33 | 8.23 | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 1.76 | 1.29 | — | — | — | — | — | — | — | — | — |
| P/FCF | 234.65 | 170.36 | — | — | — | — | — | — | — | — | — |
| P/OCF | 172.05 | 124.91 | — | — | — | — | — | — | — | — | — |
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 2026 | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.91 | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 163.79 | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.5% | 64.5% | 64.5% | 60.5% | 74.3% | 76.5% | 77.3% | 78.0% | 76.0% | 72.0% | 69.3% |
| Operating Margin | -28.7% | -28.7% | -21.9% | -47.6% | -13.4% | 0.2% | -3.3% | 4.4% | 5.3% | 2.1% | -8.6% |
| Net Profit Margin | -25.2% | -25.2% | -36.7% | -56.5% | -13.7% | -2.9% | -2.9% | 1.5% | -4.1% | -2.4% | -11.3% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -42.9% | -42.9% | — | — | -14.2% | -2.4% | -2.1% | 1.0% | -4.8% | — | — |
| ROA | -3.6% | -3.6% | -4.2% | -9.0% | -5.5% | -1.0% | -1.1% | 0.7% | -1.7% | -0.8% | -2.9% |
| ROIC | -25.0% | -25.0% | — | -41.0% | -13.0% | 0.2% | -2.2% | 2.8% | 4.2% | 2.6% | -7.4% |
| ROCE | -4.5% | -4.5% | -2.7% | -8.8% | -12.4% | 0.1% | -1.5% | 2.7% | 2.7% | 0.9% | -2.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | — | — | 1.02 | 0.77 | 0.81 | — | 0.21 | — | — |
| Debt / EBITDA | — | — | 21.58 | — | — | 18.77 | — | — | 1.71 | 8.44 | 75.86 |
| Net Debt / Equity | — | -0.05 | — | — | -0.05 | -0.32 | -0.21 | -0.19 | -0.15 | — | — |
| Net Debt / EBITDA | — | — | 19.08 | — | — | -7.85 | — | -3.28 | -1.19 | 7.01 | 65.57 |
| Debt / FCF | — | -6.57 | — | — | — | -2.79 | -2.13 | -2.66 | -2.49 | 16.89 | 40.75 |
| Interest Coverage | -12.23 | -12.23 | -1.02 | -2.43 | -22.56 | 0.16 | -6.09 | — | -1.36 | — | — |
Net cash position: cash ($358M) exceeds total debt ($18M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.32 | 1.32 | 0.89 | 1.15 | 0.95 | 1.20 | 3.39 | 1.61 | 1.99 | 1.16 | 0.93 |
| Quick Ratio | 1.32 | 1.32 | 0.89 | 1.15 | 0.95 | 1.20 | 3.39 | 1.61 | 1.99 | 1.16 | 0.93 |
| Cash Ratio | 0.56 | 0.56 | 0.21 | 0.46 | 0.62 | 0.91 | 2.57 | 0.57 | 1.16 | 0.28 | 0.27 |
| Asset Turnover | — | 0.14 | 0.12 | 0.09 | 0.39 | 0.34 | 0.29 | 0.47 | 0.37 | 0.34 | 0.26 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 138.92 | 133.33 | 138.58 | 119.35 | 112.18 | 134.64 | 148.79 | 143.03 | 134.49 | 120.75 |
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 2026 | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 0.4% | 0.6% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $562M | $547M | $138M | $94M | $91M | $89M | $90M | $52M | $69M | $72M |
Includes 30+ ratios · 10 years · Updated daily
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Quick answers to the most common questions about buying SAIL stock.
SailPoint, Inc.'s current P/E ratio is -41.2x. This places it at the 50th percentile of its historical range.
SailPoint, Inc.'s return on equity (ROE) is -42.9%. The historical average is -10.9%.
Based on historical data, SailPoint, Inc. is trading at a P/E of -41.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
SailPoint, Inc. has 64.5% gross margin and -28.7% operating margin.
Key Metrics
Top Statement Risk
Persistent Negative Operating Margins
Metrics are mathematically derived from official filings.
Margins Strained by Cloud Transition Costs
SailPoint's gross margin of 66.5% in 2027Q2, as reported in quarterly filings, remains below pure-play SaaS peers, suggesting ongoing cost drag from professional services and legacy infrastructure support during the cloud transition.
The operating margin of -19.1% indicates high fixed costs in sales and R&D that are not yet offset by scale, reflecting the dual burden of supporting both legacy and cloud architectures. Net margin at -16.3% further underscores that revenue growth has not translated to bottom-line profitability, a typical challenge in software model transformations.
Negative Returns Reflect Transformational Phase
Based on 2027Q2 financial data, SailPoint's ROIC of -0.7% indicates capital destruction, reflecting the high fixed costs and investment intensity of its ongoing cloud transformation.
ROE and ROA are also negative at -0.7%, suggesting that the company's equity and asset base are not generating returns, which may persist until operating leverage improves. Compared to historical ROIC of 7.6% in 2025Q4, an outlier quarter, the current trend shows decay in capital efficiency.
Debt-Free Balance Sheet Masks Profitability Risk
Despite a debt-to-equity ratio of 0.00% as of 2027Q2, SailPoint's negative interest coverage of -216.86, based on reported figures, highlights that operating losses, not leverage, are the primary concern for financial health.
The absence of debt eliminates refinancing risk, but negative interest coverage arises from negative EBIT, indicating that debt service is not an issue while profitability remains elusive. Investors should note that leverage metrics are less relevant here compared to operational metrics like gross margin expansion.
High P/S Multiple Contradicts Earnings Trajectory
Trading at a P/S ratio of 11.31, as per current valuation multiples, SailPoint commands a premium relative to its decelerating revenue growth and persistent losses, suggesting market optimism on long-term SaaS transition.
The negative P/E of -41.10 and high P/FCF of 234.22 indicate that valuation is driven by future expectations rather than current earnings, which may be vulnerable if growth slows further. Compared to peers like Okta (P/S not provided but implied lower given profitability), SailPoint's multiple reflects hope for margin recovery.
Adequate Liquidity with Deferred Revenue Volatility
The current ratio of 1.13 in 2027Q2, according to balance sheet data, indicates short-term liquidity is sufficient, but the collapse in deferred revenue to $29.6 million warrants investigation into revenue recognition practices.
Quick ratio aligns with current ratio at 1.13, suggesting minimal inventory dependence, which is typical for software firms. The deferred revenue drop from prior quarters raises questions about forward revenue visibility and potential changes in billing terms during the cloud shift.
P/E Ratio Misleads in Pre-Profit Transition
The negative P/E ratio of -41.10, based on trailing earnings, is frequently misapplied to SailPoint as it obscures the underlying cash generation potential during its cloud transition, where FCF margin has turned positive.
For companies in heavy investment phases, P/S or EV/Revenue multiples are more appropriate for valuation, as they focus on top-line growth rather than current losses. Investors should monitor free cash flow and SaaS transition metrics instead of relying on P/E, which distorts the assessment of operational progress.