Latest Ratios: P/E Ratio -16.6x · EV/EBITDA N/A · ROE -811.1%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $826086 | $194M | $2.0B | — | $16M | — | — |
| Enterprise Value | $-2202914 | $191M | $2.1B | — | $20M | — | — |
| P/E Ratio → | -16.60 | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — |
| P/B Ratio | 0.04 | 10.02 | 91.46 | — | 7.42 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | 23.1% |
| Operating Margin | — | — | — | — | — | — | -35076.9% |
| Net Profit Margin | — | — | — | — | — | — | -35176.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -811.1% | -811.1% | -113.8% | -121.6% | -9.9% | -0.3% | -71.0% |
| ROA | -398.2% | -398.2% | -65.7% | -67.0% | -8.9% | -0.3% | -54.0% |
| ROIC | -491.6% | -491.6% | -67.2% | -70.6% | -6.1% | — | — |
| ROCE | -653.6% | -653.6% | -99.8% | -101.0% | -7.7% | -0.3% | -64.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.47 | 0.47 | 0.27 | 0.13 | 2.52 | — | 0.13 |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.16 | 0.16 | 0.12 | 1.87 | -0.01 | -0.54 |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — |
| Interest Coverage | -3.41 | -3.41 | -1.62 | -2.53 | -4.48 | — | -57.72 |
Net cash position: cash ($12M) exceeds total debt ($9M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 0.59 | 0.59 | 0.21 | 0.04 | 1.03 | 4.80 | 3.40 |
| Quick Ratio | 0.59 | 0.59 | 0.21 | 0.04 | 1.03 | 4.80 | 3.40 |
| Cash Ratio | 0.56 | 0.56 | 0.11 | 0.01 | 0.28 | 4.03 | 3.08 |
| Asset Turnover | — | — | — | — | — | — | 0.00 |
| Inventory Turnover | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | 11708.08 |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | 0.0% | — | — |
| Shares Outstanding | — | $60607 | $2048 | $0 | $16 | $0 | $1M |
Pre-revenue commercialization failure
According to reported financial data, SMX currently trades at a P/B ratio of 0.05, which, when combined with a negative TTM P/E of -17.68, suggests that the market is assigning minimal value to the company's tangible assets while remaining highly skeptical of its future commercialization prospects.
The extremely low price-to-book ratio indicates that the market may be discounting the company's intangible assets and intellectual property as having little to no realizable value in a liquidation scenario. Investors should monitor whether this valuation reflects a deep-value opportunity or a rational market assessment of the company's inability to convert its molecular tagging technology into a scalable, revenue-generating business model.
Based on historical filings, SMX has consistently reported negative ROE and ROIC figures, with ROE reaching -1.5% in 2022Q3, which highlights the company's ongoing struggle to generate any meaningful return on the capital provided by shareholders during its pre-commercial development phase.
The persistent negative returns on capital suggest that the company is currently destroying value rather than compounding it, as the cost of maintaining its R&D and administrative infrastructure far outweighs any potential future earnings. This trend warrants further investigation into whether the company's current capital allocation strategy is sustainable or if it will continue to necessitate dilutive financing to cover operational deficits.
As reported in recent SEC filings, the company's current ratio has deteriorated significantly from 4.80 in 2021Q4 to 0.20 in 2022Q3, indicating that SMX faces severe liquidity pressure and may lack the necessary short-term assets to meet its immediate financial obligations without further external capital injections.
This rapid decline in liquidity suggests that the company's cash runway is likely becoming dangerously thin, leaving it vulnerable to even minor operational disruptions. Investors should monitor the company's ability to secure additional funding, as the current liquidity position appears insufficient to support the long-term R&D and commercialization efforts required to reach break-even.
The most commonly misapplied metric for SMX is the Price-to-Sales ratio, which is currently non-functional due to the company's lack of revenue, and investors should instead focus on the 'Burn-to-Runway' ratio to assess the company's survival probability in its current pre-commercial state.
Using traditional valuation multiples like P/S or EV/EBITDA for a pre-revenue company like SMX obscures the reality that the business is currently a laboratory-stage entity rather than a commercial enterprise. Analysts should prioritize evaluating the cash burn rate against available liquidity, as this provides a more accurate picture of the company's operational viability than any growth-based valuation metric.
Includes 30+ ratios · 6 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SMX stock.
SMX (Security Matters) Public Limited Company's current P/E ratio is -16.6x. This places it at the 50th percentile of its historical range.
SMX (Security Matters) Public Limited Company's return on equity (ROE) is -811.1%. The historical average is -63.3%.
Based on historical data, SMX (Security Matters) Public Limited Company is trading at a P/E of -16.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.