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SEATVivid Seats Inc.
$3.52$29M
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  1. Home
  2. Financial Ratios

  1. Home
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  3. SEAT
  4. Financial Ratios

Vivid Seats Inc. (SEAT) Financial Ratios

Latest Ratios: P/E Ratio -0.1x · EV/EBITDA N/A · ROE -162.3%. (2019–2025 historical series)

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly

SEAT Valuation Multiples

Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019
Market Cap$29M$75M$968M$1.3B$1.5B$843M$670M—
Enterprise Value$330M$376M$1.1B$1.4B$1.5B$814M$1.3B—
P/E Ratio →-0.05—82.6824.3120.28———
P/S Ratio0.050.131.251.762.421.9019.10—
P/B Ratio——1.582.143.021.98——
P/FCF——19.499.34—5.08——
P/OCF——17.968.53100.934.80——

P/E links to full P/E history page with 30-year chart

SEAT EV Ratios

Enterprise-value multiples — capital-structure-neutral measures of total business value

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019
EV / Revenue—0.661.461.992.471.8435.98—
EV / EBITDA——12.8514.2616.8410.32——
EV / EBIT——24.6816.7718.0620.68——
EV / FCF——22.7910.53—4.90——

SEAT Profitability

Margins and return-on-capital ratios measuring operating efficiency

Margins

Full margin charts and quarterly trend are on the Earnings History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019
Gross Margin69.6%69.6%74.0%74.4%76.6%79.5%29.6%77.4%
Operating Margin-9.9%-9.9%5.4%11.4%13.0%17.3%-2041.3%-2.1%
Net Profit Margin-75.2%-75.2%1.2%10.5%4.8%-3.6%-2207.1%-11.5%

Return on Capital

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019
ROE-162.3%-162.3%1.6%14.0%6.3%-21.0%-628.2%-10.4%
ROA-37.8%-37.8%0.6%5.5%2.2%-1.3%-58.3%-3.6%
ROIC-8.5%-8.5%4.2%9.7%12.9%16.0%-78.4%—
ROCE-7.3%-7.3%3.7%8.9%9.3%8.8%-66.2%-0.7%

SEAT Leverage & Debt

Solvency and debt-coverage ratios — lower is generally safer

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019
Debt / Equity——0.660.490.591.08—1.18
Debt / EBITDA——4.622.873.215.83—7.37
Net Debt / Equity——0.270.270.06-0.07—1.02
Net Debt / EBITDA——1.861.600.35-0.37—6.39
Debt / FCF——3.301.18—-0.18—7.90
Interest Coverage-26.47-26.471.986.256.380.68-12.47-0.30

SEAT Liquidity & Efficiency

Short-term solvency ratios and asset-utilisation metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019
Current Ratio0.590.590.810.500.881.231.230.80
Quick Ratio0.530.530.760.460.841.201.210.73
Cash Ratio0.340.340.570.260.670.980.860.50
Asset Turnover—0.900.470.460.520.310.030.31
Inventory Turnover9.559.5510.308.6710.997.703.319.17
Days Sales Outstanding—19.6122.7429.9422.2129.76366.8019.46

SEAT Shareholder Yields

Earnings, FCF, buyback, and dividend yields — total returns to shareholders

Dividends

Full dividend history and growth charts are on the Dividend History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019
Dividend Yield—————2.1%0.0%—
Payout Ratio————————

Total Shareholder Return Metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019
Earnings Yield——1.2%4.1%4.9%———
FCF Yield——5.1%10.7%—19.7%——
Buyback Yield62.7%24.3%2.4%1.6%2.2%0.0%0.0%—
Total Shareholder Yield62.7%24.3%2.4%1.6%2.2%2.1%0.0%—
Shares Outstanding—$10M$10M$10M$10M$4M$3M$4M

Key Metrics

Growth RegimeContracting
ProfitabilityNegative
Balance SheetVulnerable
Cash FlowBurning
Top Statement Risk

Negative equity and insolvency

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q1)

Market Valuation Reflects Operational Distress

Based on reported financial data, the company's P/S ratio of 0.09 suggests that the market is heavily discounting future growth prospects, likely due to the persistent revenue contraction and the significant uncertainty surrounding the company's ability to achieve sustainable profitability in the current competitive landscape.

The negative P/E and EV/EBITDA multiples indicate that traditional valuation metrics are currently distorted by the company's inability to generate consistent earnings. Investors appear to be pricing in a high probability of structural impairment, as the valuation fails to reflect the potential long-term value of the Skybox platform.

Capital Returns Decaying Amidst Losses

As reported in financial statements, the ROIC has trended into negative territory, falling from 2.1% in 2024Q1 to -6.3% by 2025Q4, which indicates that the company is currently destroying shareholder value rather than compounding it through its core marketplace operations.

The consistent decline in return metrics suggests that the capital deployed into the business is not generating sufficient returns to cover the cost of operations. This decay warrants further investigation into whether the company's recent acquisitions are failing to provide the expected synergies or if the core business model is fundamentally over-capitalized.

Working Capital Dynamics Mask Instability

According to recent SEC filings, the company's cash conversion cycle remains deeply negative, often exceeding -300 days, which is a structural byproduct of collecting cash from buyers well before paying out sellers, yet this liquidity advantage is currently insufficient to offset the underlying operational cash burn.

While the negative CCC is a common feature of marketplace models, the extreme volatility in DSO and DPO trends suggests that the company's working capital management is highly sensitive to event timing and volume fluctuations. This reliance on float to fund operations appears increasingly precarious given the recent contraction in gross order value.

Debt Service Capacity Remains Strained

Based on the provided financial statements, the company's interest coverage ratio has frequently dipped into negative territory, including a -66.82 reading in 2025Q4, which highlights the significant risk posed by debt obligations when operating margins are unable to provide a consistent buffer for interest payments.

The erratic nature of the interest coverage ratio suggests that the company's ability to service its debt is entirely dependent on the timing of event-driven cash inflows. Investors should monitor the company's refinancing risk closely, as the current balance sheet structure offers little room for error in a high-interest rate environment.

Misapplication of Gross Revenue Metrics

The most commonly misapplied metric for this business model is the headline revenue figure, which often obscures the underlying economic reality by conflating marketplace service fees with the gross value of tickets sold through the Resale segment, leading to an inflated perception of the company's true scale.

Analysts should prioritize 'Take Rate' on Gross Order Value (GOV) rather than top-line revenue growth to accurately assess the company's earning power. Relying on reported revenue without adjusting for the principal-agent reporting differences across segments may lead to a fundamental misunderstanding of the company's margin profile and competitive positioning.

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Includes 30+ ratios · 7 years · Updated daily

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SEAT — Frequently Asked Questions

Quick answers to the most common questions about buying SEAT stock.

What is Vivid Seats Inc.'s P/E ratio?

Vivid Seats Inc.'s current P/E ratio is -0.1x. The historical average is 42.4x.

What is Vivid Seats Inc.'s ROE?

Vivid Seats Inc.'s return on equity (ROE) is -162.3%. The historical average is -28.6%.

Is SEAT stock overvalued?

Based on historical data, Vivid Seats Inc. is trading at a P/E of -0.1x. Compare with industry peers and growth rates for a complete picture.

What are Vivid Seats Inc.'s profit margins?

Vivid Seats Inc. has 69.6% gross margin and -9.9% operating margin.