Latest Ratios: P/E Ratio 207.3x · EV/EBITDA 2015.9x · ROE N/A. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $8.7B | $2.8B | $10M | $115M | $229M | — |
| Enterprise Value | $8.7B | $2.8B | $41M | $130M | $253M | — |
| P/E Ratio → | 207.33 | 533.33 | — | — | — | — |
| P/S Ratio | 110.24 | 35.74 | 0.22 | 3.24 | 2.37 | — |
| P/B Ratio | — | — | — | 7.80 | — | — |
| P/FCF | 2639.65 | 855.71 | — | — | — | — |
| P/OCF | 2480.15 | 804.00 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 35.73 | 0.89 | 3.66 | 2.62 | — |
| EV / EBITDA | 2015.91 | 653.45 | — | — | — | — |
| EV / EBIT | 2186.95 | 475.08 | — | — | — | — |
| EV / FCF | — | 855.60 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| Gross Margin | 18.7% | 18.7% | 16.2% | 13.5% | 2.5% | 19.2% |
| Operating Margin | 5.0% | 5.0% | -20.2% | -12.5% | -9.5% | -207.9% |
| Net Profit Margin | 6.6% | 6.6% | -87.8% | -148.5% | -9.7% | -139.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | — | — | — | -1163.2% | -836.0% | -18.6% |
| ROA | 17.8% | 17.8% | -68.9% | -103.6% | -41.4% | -9.8% |
| ROIC | 47.9% | 47.9% | -31.5% | -13.8% | -45.0% | — |
| ROCE | — | — | -229.1% | -36.7% | -229.4% | -27.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 2.01 | — | 0.76 |
| Debt / EBITDA | 1.01 | 1.01 | — | — | — | — |
| Net Debt / Equity | — | — | — | 1.03 | — | 0.56 |
| Net Debt / EBITDA | -0.08 | -0.08 | — | — | — | — |
| Debt / FCF | — | -0.10 | — | — | — | — |
| Interest Coverage | 1.22 | 1.22 | -1.99 | -1.32 | -9.92 | -25.03 |
Net cash position: cash ($5M) exceeds total debt ($4M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.72 | 0.72 | 0.70 | 0.98 | 0.35 | 0.58 |
| Quick Ratio | 0.72 | 0.72 | 0.70 | 0.98 | 0.35 | 0.58 |
| Cash Ratio | 0.56 | 0.56 | 0.03 | 0.30 | 0.19 | 0.23 |
| Asset Turnover | — | 6.57 | 1.00 | 0.50 | 3.20 | 0.07 |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | 4.38 | 0.02 | 30.68 | 7.10 | 146.15 |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | 0.5% | 0.2% | — | — | — | — |
| FCF Yield | 0.0% | 0.1% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $4.4B | $2M | $1M | $901510 | $1M |
Includes 30+ ratios · 5 years · Updated daily
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Quick answers to the most common questions about buying SOAR stock.
Volato Group, Inc.'s current P/E ratio is 207.3x. This places it at the 50th percentile of its historical range.
Volato Group, Inc.'s current EV/EBITDA is 2015.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
Based on historical data, Volato Group, Inc. is trading at a P/E of 207.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Volato Group, Inc. has 18.7% gross margin and 5.0% operating margin.
Volato Group, Inc.'s Debt/EBITDA ratio is 1.0x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Severe liquidity and operational volatility
Metrics are mathematically derived from official filings.
Valuation Reflects Extreme Growth Expectations
SOAR's P/S ratio of 96.11 and EV/EBITDA of 1,757.43, as reported in recent financial statements, imply the market is pricing in a future scale and profitability that are not yet visible in its current operational metrics.
The valuation multiples are astronomically high relative to the company's current revenue base and negative operating margins, suggesting the market is valuing SOAR on a future, scaled-up version of its business model rather than its present financials. This disconnect is particularly stark when compared to peers like flyExclusive and Surf Air Mobility, which trade at negative or minimal multiples, indicating SOAR is priced for a successful execution of its niche strategy that has yet to be proven at scale.
Margin Structure Highly Volatile and Unreliable
Based on reported figures, SOAR's gross margin has swung from -22.0% to 69.7% over the last ten quarters, indicating that profitability is entirely dependent on the unpredictable mix of fractional share sales versus recurring service revenue in any given period.
The extreme volatility in gross margin, coupled with a persistently low operating margin (5.04% TTM), suggests the company's cost structure is not yet optimized for its current revenue mix. The fact that net margin (6.58%) has recently exceeded operating margin points to non-operating income or tax benefits that are likely non-recurring, masking the true weakness in core operational profitability.
Capital Returns Erratic and Uncompounding
As reported in financial statements, SOAR's ROIC has fluctuated wildly from -65.0% to 39.7% over the past year, demonstrating an inability to generate consistent returns on invested capital and highlighting the business's early-stage, high-volatility nature.
The erratic ROIC trend, which includes both deeply negative and temporarily positive readings, indicates that the company is not in a phase of steady capital compounding. Instead, returns are driven by lumpy transactional events and significant working capital swings, making it impossible to assess a sustainable return profile at this stage of its development.
Working Capital Driven by Customer Deposits
According to recent SEC filings, SOAR's Days Sales Outstanding (DSO) has spiked to 108 days in 2026Q2, while Days Payable Outstanding (DPO) stands at 1,323 days, suggesting a business model heavily reliant on customer prepayments and extended supplier terms.
The extreme DPO figure, which is orders of magnitude higher than typical industrial norms, likely reflects the company's use of deferred revenue from fractional share sales as a primary funding source, as noted in prior balance sheet analysis. This structure creates a significant dependency on new customer deposits to fund operations, making the business model highly sensitive to any slowdown in new sales.
Liquidity Position Remains Precarious
Based on EDBL's reported figures, SOAR's current ratio of 1.11 in 2026Q2, while an improvement, is supported by a cash balance of only $4.7 million against $78.5 million in TTM revenue, indicating a minimal buffer against operational disruptions.
The liquidity position, though technically solvent with a current ratio above 1, is dangerously thin for a capital-intensive business. The prior finding of a 'severe cash burn' is consistent with this ratio, as the company's operational scale vastly exceeds its cash reserves, leaving it vulnerable to any delay in customer payments or unexpected capital expenditure needs.
The Misleading Power of the P/S Ratio
The P/S ratio of 96.11 is the most commonly misapplied metric for SOAR, as it obscures the company's negative free cash flow margin of -47.9% and the capital-intensive nature of its fleet growth model.
For a company burning cash to scale its asset base, the Price-to-Sales ratio is a misleading indicator of value because it ignores the significant capital required to generate those sales. A more appropriate metric would be Price-to-Fleet or EV-to-EBITDA on a normalized basis, which would better reflect the underlying economics of acquiring and operating aircraft versus the top-line revenue they generate.