Latest Ratios: P/E Ratio -21.3x · EV/EBITDA N/A · ROE -127.6%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $527M | $251M | $260M | $157M | $256M | $668M | — | — |
| Enterprise Value | $496M | $220M | $317M | $137M | $187M | $771M | — | — |
| P/E Ratio → | -21.28 | — | — | — | — | — | — | — |
| P/S Ratio | 29.78 | 14.17 | 20.19 | 15.55 | 42.51 | 157.19 | — | — |
| P/B Ratio | 8.49 | 4.14 | — | 3.03 | 2.41 | — | — | — |
| 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 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 12.41 | 24.65 | 13.61 | 31.15 | 181.45 | — | — |
| 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 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.8% | 28.8% | 61.0% | 49.8% | 45.4% | 55.8% | — | — |
| Operating Margin | -175.2% | -175.2% | -405.6% | -688.9% | -1511.4% | -1616.1% | — | — |
| Net Profit Margin | -27.0% | -27.0% | -903.4% | -605.7% | -609.5% | -2267.6% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -127.6% | -127.6% | — | -77.3% | -34.5% | — | — | — |
| ROA | -4.5% | -4.5% | -168.4% | -55.4% | -37.8% | -184.3% | -42.0% | -43.3% |
| ROIC | -137.2% | -137.2% | -214.2% | -148.6% | -179.8% | — | -74.9% | -81.1% |
| ROCE | -39.8% | -39.8% | -127.2% | -82.2% | -79.9% | — | — | -85.9% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.05 | 1.05 | — | 0.08 | 0.08 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.51 | — | -0.38 | -0.64 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | -2386.08 | -2386.08 | -1596.38 | -1017.35 | -19.09 | -10.06 | -2.98 | -4.63 |
Net cash position: cash ($94M) exceeds total debt ($63M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.12 | 5.12 | 0.80 | 1.24 | 2.70 | 0.04 | 0.14 | 1.05 |
| Quick Ratio | 5.02 | 5.02 | 0.80 | 1.24 | 2.70 | 0.04 | 0.14 | 1.05 |
| Cash Ratio | 4.20 | 4.20 | 0.65 | 1.10 | 2.54 | 0.03 | 0.13 | 1.03 |
| Asset Turnover | — | 0.12 | 0.21 | 0.13 | 0.04 | 0.09 | — | — |
| Inventory Turnover | 5.73 | 5.73 | — | — | — | — | — | — |
| Days Sales Outstanding | — | 176.20 | 41.52 | 32.64 | 84.27 | 102.79 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.3% | 3.4% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.3% | 3.4% | 0.0% | — | — |
| Shares Outstanding | — | $134M | $91M | $90M | $84M | $69M | $50M | $69M |
Includes 30+ ratios · 7 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SATL stock.
Satellogic Inc.'s current P/E ratio is -21.3x. This places it at the 50th percentile of its historical range.
Satellogic Inc.'s return on equity (ROE) is -127.6%. The historical average is -79.8%.
Based on historical data, Satellogic Inc. is trading at a P/E of -21.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Satellogic Inc. has 28.8% gross margin and -175.2% operating margin.
Key Metrics
Top Statement Risk
Persistent cash burn dependent on external financing
Metrics are mathematically derived from official filings.
Premium Price Reflects Aspiration, Not Fundamentals
Satellogic's 41.3x price-to-sales ratio, as reported in recent market data, is dramatically higher than peers like Planet Labs at 26x, implying investors are paying for a future scale and profitability that current operational metrics do not support.
The valuation premium is difficult to reconcile with the company's deeply negative returns on capital and persistent cash burn. The P/B ratio of 11.8x is particularly striking given the massive accumulated deficit of $543.2M, suggesting the market is pricing the franchise value of its satellite constellation and data capabilities, not its current book value. This creates significant downside risk if the path to positive unit economics and operating leverage proves longer than anticipated.
High Gross Margin Masked by Structural Overhead
The company's gross margin expanded to a sector-leading 82.3% in 2026Q2, yet the operating margin remains a razor-thin 1.7%, indicating that SG&A and R&D expenses have scaled to consume nearly all gross profit.
The gross margin is an impressive indicator of the underlying value of its Earth observation data, but it is rendered almost meaningless for shareholder returns by the company's cost structure. As seen in the prior analysis, SG&A has frequently exceeded total revenue, pointing to a pre-revenue stage of corporate build-out that may not compress quickly. Net margin is an even more distorted metric, as swings from -126% to +109% are driven by volatile non-operating items, not core operational improvements.
Capital Intensive Returns Remain Elusive
Satellogic's ROIC has been volatile and largely negative, including a -38.6% reading in 2026Q1, suggesting that the massive capital invested in its satellite infrastructure is not yet generating a return above the company's cost of capital.
The positive ROIC of 3.1% in 2026Q2 is a notable inflection, but it follows quarters of deeply negative returns and may reflect a quarterly anomaly from a large contract rather than a sustainable trend. Over a 10-quarter view, the capital base has grown substantially while returns remain erratic, indicating the company is still in a heavy investment phase. This trajectory warrants monitoring to see if recent margin expansion can translate into consistent, positive returns on the invested capital base.
Customer Collection and Supplier Leverage in Flux
Days sales outstanding spiked to 136 days in 2026Q1 before falling back to 56 days in 2026Q2, while days payable outstanding has trended down from 690 days, signaling a significant shift in working capital dynamics as the business scales.
The erratic DSO and DPO trends suggest inconsistent revenue recognition and collection cycles, typical for lumpy enterprise or government contracts. The sharp drop in DPO from extreme levels may indicate a move towards more standard payment terms with suppliers as operations mature. The low asset turnover of 0.08x underscores that the business model is highly asset-intensive, requiring substantial infrastructure to generate each dollar of revenue.
Debt Load Elevated Amidst Equity Reconstruction
While the current ratio improved to 2.34 in 2026Q2, the debt-to-equity ratio stands at 2.85 with $96.5M in total debt, a level supported by a recent capital infusion but still significant for a company with minimal operating cash flow.
The leverage must be interpreted in the context of a recent transformation where external financing restored positive book equity. Interest coverage is not meaningful due to negative EBITDA in several quarters, highlighting that debt serviceability is entirely dependent on continued access to capital markets or cash on hand. The company's leverage profile is a function of strategic financing rather than operational strength, creating refinancing risk if market conditions change.
Asset Turnover Misleads on Scalability
The asset turnover ratio of 0.08x is commonly misapplied to Satellogic, as it ignores the high-margin, scalable nature of its data-as-a-service model where future revenue growth may not require proportional increases in the asset base.
Critics pointing to the low asset turnover as evidence of poor efficiency misunderstand the business. The satellite constellation is a sunk, depreciating asset with a high fixed cost but near-zero marginal cost to serve additional customers. The critical ratio to monitor is not asset turnover, but the incremental gross margin on new revenue and the path to operating leverage, as the company scales its subscriber base on a largely fixed cost platform. Traditional turnover metrics fail to capture the long-term earnings power of a successfully deployed aerospace data network.