Latest Ratios: P/E Ratio 364.6x · EV/EBITDA N/A · ROE 0.5%. (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 | $107M | $99M | $175M | $167M | — | — |
| Enterprise Value | $110M | $102M | $175M | $165M | — | — |
| P/E Ratio → | 364.60 | 337.17 | 56.00 | — | — | — |
| P/S Ratio | — | — | — | — | — | — |
| P/B Ratio | 5.94 | 5.50 | 1.70 | 1.68 | — | — |
| 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 |
|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | 0.5% | 0.5% | 3.1% | -1.5% | — | — |
| ROA | 0.4% | 0.4% | 3.0% | -1.4% | -123.5% | -53.2% |
| ROIC | -3.1% | -3.1% | -1.6% | -2.9% | -128.3% | — |
| ROCE | -4.1% | -4.1% | -2.0% | -3.8% | — | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.18 | 0.01 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.17 | 0.00 | -0.01 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.05 | 0.05 | 0.36 | 3.82 | 0.22 | 0.35 |
| Quick Ratio | 0.05 | 0.05 | 0.36 | 3.82 | 0.22 | 0.35 |
| Cash Ratio | 0.03 | 0.03 | 0.28 | 3.44 | 0.19 | 0.20 |
| Asset Turnover | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — |
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 | 0.3% | 0.3% | 1.8% | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 79.3% | 85.7% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 79.3% | 85.7% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $9M | $16M | $16M | $16M | $16M |
Imminent liquidation deadline risk
With a TTM P/E ratio of 364.60, SPKL's valuation appears disconnected from its lack of operational revenue, as noted in recent financial filings, suggesting the market is pricing the entity as a speculative shell rather than a business with tangible earnings power or growth prospects.
The elevated P/E multiple is likely a byproduct of non-cash accounting adjustments rather than fundamental performance, rendering traditional valuation metrics largely irrelevant for this vehicle. Investors should monitor whether the current P/B of 5.94 reflects a premium for the sponsor's network or merely an accounting artifact of the remaining trust assets.
As reported in financial statements, SPKL's ROIC has trended into negative territory, reaching -1.1% in 2026Q1, which underscores the company's inability to generate returns on its invested capital while it remains in a pre-merger state without any operational revenue streams to offset administrative costs.
The consistent decay in ROIC from historical levels suggests that the company is consuming its capital base to fund ongoing search activities. This trend warrants further investigation into whether the sponsor can pivot toward a value-accretive transaction before the remaining capital is fully exhausted by fixed overhead.
Based on the most recent quarterly data, SPKL's current ratio has plummeted to 0.06, indicating that the company's liquid assets are insufficient to cover its short-term obligations as it approaches the three-year anniversary of its 2021 incorporation, according to the provided financial records.
This severe liquidity constraint suggests that the company may be forced to seek additional sponsor loans or face an accelerated liquidation timeline. The lack of a sufficient quick ratio buffer implies that the entity is highly vulnerable to any further delays in securing a viable business combination.
As reported in financial filings, SPKL's debt-to-equity ratio has increased to 0.21 in 2026Q1, a notable shift from previous periods of near-zero leverage, which suggests an increasing reliance on external financing to sustain operations as the company's total asset base continues to erode.
While the absolute debt level remains modest, the trend toward higher leverage in a non-operational entity is concerning and may indicate that the sponsor is funding the search process through debt rather than existing cash reserves. This development warrants close monitoring of the company's ability to service these obligations.
The P/E ratio is the most commonly misapplied metric for SPKL, as it obscures the reality that the company is a non-operational shell where net income is driven by non-cash derivative warrant adjustments rather than sustainable business performance, according to recent SEC filings.
Analysts should instead focus on the Net Asset Value (NAV) of the trust and the remaining search runway, as these metrics provide a more accurate assessment of the company's true economic value. Relying on earnings-based multiples for a SPAC is fundamentally flawed and may lead to significant mispricing of the entity's liquidation optionality.
Includes 30+ ratios · 5 years · Updated daily
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Quick answers to the most common questions about buying SPKL stock.
Spark I Acquisition Corp. Class A Ordinary Share's current P/E ratio is 364.6x. The historical average is 56.0x. This places it at the 100th percentile of its historical range.
Spark I Acquisition Corp. Class A Ordinary Share's return on equity (ROE) is 0.5%. The historical average is 0.7%.
Based on historical data, Spark I Acquisition Corp. Class A Ordinary Share is trading at a P/E of 364.6x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.