Latest Ratios: P/E Ratio 21.0x · EV/EBITDA 13.7x · ROE 729.6%. (2006–2025 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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $74M | $271M | $103M | $10M | $13M | $88M | $70M | $32M | $34M | $34M | $19M |
| Enterprise Value | $85M | $282M | $118M | $39M | $50M | $116M | $85M | $38M | $45M | $39M | $24M |
| P/E Ratio → | 21.00 | 72.78 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.68 | 6.15 | 3.15 | 0.51 | 0.75 | 6.77 | 17.24 | 31.58 | 18.59 | 45.49 | 13.68 |
| P/B Ratio | 48.30 | 167.40 | — | — | — | — | — | — | — | — | — |
| P/FCF | 38.28 | 140.14 | 52.24 | — | — | — | — | — | — | — | — |
| P/OCF | 19.10 | 69.92 | 41.81 | — | — | — | — | — | — | — | — |
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.40 | 3.61 | 1.91 | 3.01 | 8.91 | 20.97 | 36.60 | 24.23 | 52.70 | 17.59 |
| EV / EBITDA | 13.66 | 45.28 | 17.97 | 79.85 | — | — | — | — | — | — | — |
| EV / EBIT | 17.20 | 15.54 | — | — | 13.11 | — | — | — | — | — | — |
| EV / FCF | — | 145.83 | 60.00 | — | — | — | — | — | — | — | — |
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 77.1% | 77.1% | 75.2% | 70.4% | 74.1% | 61.7% | 71.4% | 47.6% | 62.5% | 67.2% | 58.9% |
| Operating Margin | 11.2% | 11.2% | 16.6% | -2.6% | -53.5% | -108.7% | -621.1% | -854.9% | -388.1% | -517.8% | -241.0% |
| Net Profit Margin | 26.8% | 26.8% | -96.1% | -126.5% | -61.5% | -209.5% | -762.6% | -1013.9% | -628.7% | -749.9% | -467.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 729.6% | 729.6% | — | — | — | — | — | — | — | — | — |
| ROA | 35.0% | 35.0% | -119.4% | -122.1% | -53.5% | -130.9% | -234.3% | -457.5% | -947.0% | -485.0% | -656.0% |
| ROIC | 48.9% | 48.9% | 159.8% | — | — | — | — | — | — | — | — |
| ROCE | 136.0% | 136.0% | — | — | — | — | — | — | — | — | — |
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 14.19 | 14.19 | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | 3.69 | 3.69 | 3.89 | 62.41 | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 6.80 | — | — | — | — | — | — | — | — | — |
| Net Debt / EBITDA | 1.77 | 1.77 | 2.33 | 58.72 | — | — | — | — | — | — | — |
| Debt / FCF | — | 5.69 | 7.77 | — | — | — | — | — | — | — | — |
| Interest Coverage | 2.91 | 2.91 | -1.30 | -0.65 | 0.27 | -2.84 | -11.18 | -4.68 | -1.59 | -3.86 | -3.88 |
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.38 | 1.38 | 0.43 | 0.15 | 0.11 | 0.08 | 0.22 | 0.20 | 0.07 | 0.11 | 0.12 |
| Quick Ratio | 1.05 | 1.05 | 0.34 | 0.11 | 0.10 | 0.06 | 0.14 | 0.16 | 0.04 | 0.09 | 0.09 |
| Cash Ratio | 0.67 | 0.67 | 0.24 | 0.03 | 0.02 | 0.01 | 0.07 | 0.14 | 0.02 | 0.07 | 0.02 |
| Asset Turnover | — | 1.18 | 1.08 | 0.91 | 0.84 | 0.70 | 0.18 | 0.30 | 1.57 | 0.58 | 1.37 |
| Inventory Turnover | 1.70 | 1.70 | 1.95 | 2.05 | 4.99 | 4.79 | 0.39 | 0.99 | 1.94 | 1.05 | 2.44 |
| Days Sales Outstanding | — | 44.93 | 37.23 | 59.30 | 87.84 | 67.75 | 211.96 | 26.80 | 46.56 | 75.38 | 122.23 |
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.8% | 1.4% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 2.6% | 0.7% | 1.9% | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 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% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $9M | $4M | $2M | $1M | $1M | $1M | $541442 | $398767 | $370236 | $286986 |
Regulatory and reimbursement dependency
Based on current market data, SNWV trades at a P/S ratio of 1.68, which appears to discount the volatility of its recent revenue growth compared to more established peers in the advanced wound care sector that command higher premiums for consistent, predictable cash flow generation.
The P/E ratio of 21.00 suggests that investors are pricing in a recovery phase, yet the lack of a stable PEG ratio highlights the difficulty in forecasting long-term earnings growth. The valuation appears to be heavily influenced by the company's transition to a consumable-heavy model, which may be mispriced if the market fails to account for the durability of the UltraMIST installed base.
According to historical financial data, SNWV's ROIC has fluctuated wildly from a negative 15.5% in 2026Q1 to a peak of 74.4% in 2024Q4, indicating that the company has yet to establish a stable mechanism for compounding capital effectively within its specialized medical device niche.
The extreme variance in returns on capital suggests that profitability is frequently driven by non-recurring accounting adjustments rather than core operational efficiency. Investors should monitor whether the company can sustain positive returns as it moves past its recent balance sheet restructuring and focuses on organic growth.
As reported in recent filings, the company's cash conversion cycle remains highly inconsistent, swinging from a negative 104 days in 2024Q1 to 151 days in 2026Q1, which reflects significant challenges in managing inventory levels and collecting receivables within the complex outpatient wound care reimbursement environment.
The high DIO, which reached 219 days in 2026Q1, suggests that the company may be carrying excessive inventory or struggling with the placement model of its devices. This inefficiency in working capital management likely acts as a drag on free cash flow, necessitating further scrutiny of the company's inventory turnover policies.
Based on reported financial statements, the debt-to-equity ratio reached a volatile 14.19 in 2025Q4 before moderating to 3.91 in 2026Q1, reflecting a capital structure that remains highly sensitive to fluctuations in both debt levels and the underlying equity valuation of the firm.
While the moderation in leverage is a positive development, the company's interest coverage remains inconsistent, occasionally dipping into negative territory. This suggests that the firm's ability to service its debt is not yet fully decoupled from its volatile operational performance, warranting caution regarding future financing needs.
The P/E ratio is frequently misapplied to SNWV, as it obscures the impact of non-operating income and tax-related adjustments that frequently distort net income, making an EV/EBITDA or P/S approach more appropriate for evaluating the underlying health of this medical device business.
Because the company's net income is often bolstered by one-time gains, the P/E ratio provides a misleading picture of operational profitability. Analysts should instead focus on gross margin stability and revenue growth per installed device to better understand the true earning power of the company's core technology.
Includes 30+ ratios · 20 years · Updated daily
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Quick answers to the most common questions about buying SNWV stock.
SANUWAVE Health, Inc.'s current P/E ratio is 21.0x. The historical average is 72.8x.
SANUWAVE Health, Inc.'s current EV/EBITDA is 13.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 47.7x.
SANUWAVE Health, Inc.'s return on equity (ROE) is 729.6%. This is above the typical threshold of 15-20% considered good for most companies.
Based on historical data, SANUWAVE Health, Inc. is trading at a P/E of 21.0x. Compare with industry peers and growth rates for a complete picture.
SANUWAVE Health, Inc. has 77.1% gross margin and 11.2% operating margin. Operating margin between 10-20% is typical for established companies.
SANUWAVE Health, Inc.'s Debt/EBITDA ratio is 3.7x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.