Latest Ratios: P/E Ratio -354.0x · EV/EBITDA N/A · ROE -4.6%. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $16.1B | $8.8B | $5.0B | $2.7B | $2.3B | $6.2B | $1.8B | $269M | — | — |
| Enterprise Value | $16.1B | $8.8B | $5.0B | $2.7B | $2.3B | $5.6B | $1.7B | $257M | — | — |
| P/E Ratio → | -354.02 | — | — | — | 98.66 | 191.20 | — | — | — | — |
| P/S Ratio | 49.20 | 26.99 | 24.47 | 18.81 | 8.12 | 28.27 | 15.48 | 3.20 | — | — |
| P/B Ratio | 13.15 | 7.63 | 7.09 | 3.83 | 3.25 | 9.78 | 16.36 | 4.33 | — | — |
| P/FCF | 463.23 | 254.14 | — | — | 561.32 | 244.58 | 204.07 | 64.47 | — | — |
| P/OCF | 184.42 | 101.18 | 213.86 | 336.24 | 57.94 | 104.70 | 108.29 | 36.49 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 26.96 | 24.47 | 18.80 | 8.04 | 25.75 | 14.92 | 3.05 | — | — |
| EV / EBITDA | — | — | — | — | 81.44 | 138.19 | — | 75.48 | — | — |
| EV / EBIT | — | — | — | — | 97.67 | 174.12 | — | — | — | — |
| EV / FCF | — | 253.79 | — | — | 555.48 | 222.77 | 196.66 | 61.45 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.6% | 53.6% | 51.6% | 57.0% | 64.5% | 63.7% | 49.9% | 47.1% | 42.5% | 47.4% |
| Operating Margin | -18.5% | -18.5% | -56.9% | -74.4% | 5.7% | 15.0% | -7.4% | -5.8% | -9.1% | 5.5% |
| Net Profit Margin | -13.1% | -13.1% | -46.2% | -55.9% | 8.2% | 14.8% | -8.1% | -7.9% | -11.0% | 4.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -4.6% | -4.6% | -13.3% | -11.4% | 3.5% | 8.7% | -10.9% | -18.1% | -65.1% | 26.7% |
| ROA | -3.9% | -3.9% | -10.2% | -9.5% | 3.3% | 7.9% | -7.2% | -6.7% | -12.7% | 6.3% |
| ROIC | -4.9% | -4.9% | -12.3% | -11.6% | 3.2% | 39.3% | -13.7% | -7.4% | -11.6% | 8.1% |
| ROCE | -6.1% | -6.1% | -14.3% | -13.9% | 2.4% | 8.7% | -9.2% | -11.6% | -45.4% | 27.5% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.01 | 0.01 | 0.02 | 0.01 | 0.08 | 0.82 | 4.18 | 2.43 |
| Debt / EBITDA | — | — | — | — | 0.38 | 0.19 | — | 14.95 | — | 4.71 |
| Net Debt / Equity | — | -0.01 | 0.00 | -0.00 | -0.03 | -0.87 | -0.59 | -0.20 | 3.46 | 1.92 |
| Net Debt / EBITDA | — | — | — | — | -0.86 | -13.53 | — | -3.71 | — | 3.71 |
| Debt / FCF | — | -0.35 | — | — | -5.84 | -21.82 | -7.41 | -3.02 | — | — |
| Interest Coverage | — | — | — | — | — | — | -11.86 | -2.86 | -5.20 | 6.39 |
Net cash position: cash ($17M) exceeds total debt ($5M)
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 11.30 | 11.30 | 5.02 | 5.13 | 19.80 | 16.74 | 5.91 | 1.87 | 0.90 | 0.99 |
| Quick Ratio | 10.33 | 10.33 | 4.31 | 4.59 | 18.09 | 16.11 | 5.27 | 1.65 | 0.55 | 0.70 |
| Cash Ratio | 9.62 | 9.62 | 3.86 | 4.35 | 16.69 | 14.96 | 3.84 | 1.19 | 0.13 | 0.17 |
| Asset Turnover | — | 0.25 | 0.23 | 0.15 | 0.38 | 0.32 | 0.85 | 0.68 | 1.17 | 1.35 |
| Inventory Turnover | 1.86 | 1.86 | 1.28 | 0.94 | 1.75 | 3.36 | 4.71 | 3.74 | 2.39 | 3.46 |
| Days Sales Outstanding | — | 50.33 | 68.80 | 55.41 | 53.06 | 64.02 | 77.48 | 81.32 | 88.31 | 81.73 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 1.0% | 0.5% | — | — | — | — |
| FCF Yield | 0.2% | 0.4% | — | — | 0.2% | 0.4% | 0.5% | 1.6% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $25M | $23M | $22M | $23M | $21M | $16M | $11M | $14M | $14M |
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying SITM stock.
SiTime Corporation's current P/E ratio is -354.0x. The historical average is 144.9x.
SiTime Corporation's return on equity (ROE) is -4.6%. The historical average is -9.4%.
Based on historical data, SiTime Corporation is trading at a P/E of -354.0x. Compare with industry peers and growth rates for a complete picture.
SiTime Corporation has 53.6% gross margin and -18.5% operating margin.
Key Metrics
Top Statement Risk
SBC dilution and debt-funded acquisition
Metrics are mathematically derived from official filings.
Margin Recovery Masks Earnings Quality
Gross margin expanded from 49.1% in 2024Q2 to 63.0% in 2026Q2, as reported in financial statements, while operating margin turned positive at 5.2%, suggesting a favorable product mix shift.
The sequential improvement in gross margin from 56.4% in 2025Q4 to 63.0% in 2026Q2 indicates that the company is capturing higher-value timing solutions, likely driven by design wins in premium markets. However, operating margin of 5.2% remains thin relative to the gross margin, implying that operating expenses, particularly R&D and SBC, are absorbing a significant portion of the gross profit. Net margin of 11.5% exceeds operating margin by 6.3 percentage points, which per the income statement is attributable to a non-operating gain or tax benefit that may not recur, warranting caution when extrapolating profitability.
Return on Capital Inflecting from Deep Negative
ROIC improved from -4.0% in 2024Q1 to 1.1% in 2026Q2, as per reported figures, indicating a turnaround but still far below the cost of capital.
The trajectory of ROIC, ROE, and ROA shows a clear inflection from deeply negative levels in early 2024 to marginally positive in 2026Q2, with ROE at 1.7% and ROA at 1.0%. This improvement is driven by the sharp revenue acceleration and operating leverage, but the absolute returns remain low, suggesting that the company is still in the early stages of generating economic value. The asset turnover of 0.08x is extremely low, reflecting the large cash and intangible asset base from the recent acquisition, which dilutes returns on capital. Investors should monitor whether ROIC can scale with revenue growth, as the current level does not yet justify the premium valuation.
Working Capital Cycle Stretched by Inventory
Cash conversion cycle improved from 410 days in 2024Q1 to 153 days in 2026Q2, as reported in financial statements, but inventory days remain elevated at 152.
The dramatic reduction in CCC from 410 days to 153 days is a positive sign, driven by a sharp decline in DIO from 414 to 152 days, indicating better inventory management as revenue scales. However, DIO of 152 days is still high, suggesting that the company is holding significant inventory to support its growth, which could become a risk if demand softens. DSO has remained relatively stable around 40 days, while DPO has declined from 58 to 40 days, indicating that the company is paying suppliers faster, possibly to secure supply or due to improved negotiating power. The working capital improvements are encouraging, but the absolute level of inventory days warrants monitoring for potential obsolescence in the semiconductor industry.
Leverage Spike from Debt-Financed Acquisition
Debt-to-equity jumped from 0.01 in 2024Q4 to 1.29 in 2026Q2, as per the balance sheet, following a $1.3B debt issuance, with interest coverage at 3.8x.
The balance sheet transformation is stark: total debt rose from $6.2M to $1.3B, and D/E now stands at 1.29, a level that would have been unthinkable a year ago. Interest coverage of 3.8x in 2026Q2 is adequate but not comfortable, and it is based on operating income that has only recently turned positive. The D/EBITDA ratio of 62.13x is extremely high, though EBITDA is likely depressed due to the company's growth investments and SBC; this ratio may normalize as EBITDA scales. The debt appears to be used for an acquisition that brought in $1.9B in cash, which provides a buffer, but the ongoing cash flow volatility and SBC dilution could strain debt service if growth decelerates. Investors should monitor the company's ability to generate consistent operating cash flow to service this debt.
Liquidity Fortress but Cash Flow Thin
Current ratio soared to 19.45 in 2026Q2 from 5.02 in 2024Q4, as reported in financial statements, with cash of $1.9B providing a substantial buffer.
The liquidity position is exceptionally strong on paper, with a current ratio of 19.45 and a quick ratio of 18.50, indicating that the company has ample short-term assets to cover liabilities. This is largely due to the $1.9B in cash from the debt issuance, which masks the underlying operational cash flow challenges. In 2026Q2, free cash flow was essentially breakeven at -$0.1M, and operating cash flow of $12.1M was only 67% of net income, suggesting that working capital is absorbing cash. While the cash cushion provides a safety net, the company's ability to generate positive FCF consistently is not yet proven, and the high cash balance may be a temporary artifact of the financing.
P/E Misleading for Loss-Making Growth
The trailing P/E of -401.14 is meaningless given the recent losses, while the forward P/E of 62.07 implies aggressive earnings expectations, as per current valuation multiples.
The most commonly misapplied ratio for SITM is the P/E, which is distorted by the company's recent losses and the significant non-cash SBC charges. The trailing P/E is negative and the forward P/E of 62.07 is based on analyst estimates that may not account for the full dilution from SBC or the sustainability of the tax benefits that boosted net income. A more appropriate metric is EV/Sales, which at 55.75x is extremely high, reflecting the market's pricing of future growth. Alternatively, investors should focus on P/FCF, which at 524.89x highlights the thin cash generation relative to market value. Given the company's capital intensity and working capital needs, EV/EBITDA may also be misleading due to the low EBITDA base; instead, investors should evaluate the company on its ability to convert revenue into free cash flow over the long term.