System1, Inc. (SST) Financial Ratios
7 years of historical data (2019–2025) · Industrials · Specialty Business Services
EV/EBITDA
↓
-2.35
↓-102% vs avg
5yr avg: 131.40
P/FCF
N/A
—
5yr avg: 154.72
30Y Low154.7·High172.7
P/B Ratio
↓
1.28
↓-83% vs avg
5yr avg: 7.56
30Y Low1.8·High16.0
ROE
↓
-127.6%
↑-57% vs avg
5yr avg: -81.5%
30Y Low-166%·High34%
Debt/EBITDA
↓
0.46
↓-70% vs avg
5yr avg: 1.55
30Y Low0.5·High4.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SST Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
System1, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $28M | $31M | $625M | $2.0B | $4.3B | $8.4B | $7.0B | — |
| Enterprise Value | $-48878699 | $-46489320 | $836M | $2.3B | $4.7B | $8.5B | $7.2B | — |
| P/E Ratio → | -0.34 | — | — | — | — | 249.00 | 431.60 | — |
| P/S Ratio | 0.11 | 0.12 | 1.82 | 5.05 | 6.47 | 12.17 | 14.66 | — |
| P/B Ratio | 1.28 | 1.77 | 7.35 | 11.99 | 9.13 | — | 16.00 | — |
| P/FCF | — | — | — | — | — | 154.72 | 172.70 | — |
| P/OCF | — | — | — | — | — | 138.06 | 149.95 | — |
P/E links to full P/E history page with 30-year chart
SST EV Ratios
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.17 | 2.43 | 5.60 | 7.09 | 12.35 | 15.04 | — |
| EV / EBITDA | -2.35 | -2.23 | — | — | — | 131.40 | 135.27 | — |
| EV / EBIT | — | — | — | — | — | 167.29 | 167.96 | — |
| EV / FCF | — | — | — | — | — | 156.98 | 177.13 | — |
SST Profitability
Margins and return-on-capital ratios measuring operating efficiency
System1, Inc. earns an operating margin of -23.3%, below the Industrials sector average of 4.3%. Operating margins have compressed from -21.4% to -23.3% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -127.6% indicates the company is currently destroying shareholder equity.
Margins
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.7% | 37.7% | 44.3% | 11.6% | 2.3% | 12.6% | 28.4% | 32.3% |
| Operating Margin | -23.3% | -23.3% | -25.8% | -21.4% | -74.3% | 7.4% | 9.0% | 12.8% |
| Net Profit Margin | -24.6% | -24.6% | -21.7% | -56.5% | -55.3% | 4.8% | 13.4% | 2.2% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -127.6% | -127.6% | -58.7% | -71.0% | -166.2% | 16.2% | 34.5% | — |
| ROA | -15.1% | -15.1% | -14.0% | -25.7% | -51.9% | 8.5% | 15.3% | 2.8% |
| ROIC | -39.3% | -39.3% | -19.4% | -10.1% | -75.8% | 10.7% | 8.3% | 24.9% |
| ROCE | -20.3% | -20.3% | -20.3% | -11.7% | -106.3% | 20.4% | 12.2% | 28.9% |
SST Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
System1, Inc. carries a Debt/EBITDA ratio of 0.5x, which is very conservative (86% below the sector average of 3.2x). The company holds a net cash position — cash of $87M exceeds total debt of $10M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.55 | 0.55 | 3.24 | 2.10 | 0.90 | — | 0.41 | — |
| Debt / EBITDA | 0.46 | 0.46 | — | — | — | 2.63 | 3.40 | 4.02 |
| Net Debt / Equity | — | -4.44 | 2.49 | 1.30 | 0.88 | — | 0.41 | — |
| Net Debt / EBITDA | -3.71 | -3.71 | — | — | — | 1.89 | 3.38 | 3.52 |
| Debt / FCF | — | — | — | — | — | 2.26 | 4.43 | 8.57 |
| Interest Coverage | -2.25 | -2.25 | -2.09 | -1.70 | -7.21 | 3.01 | 1.75 | 1.96 |
Net cash position: cash ($87M) exceeds total debt ($10M)
SST Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.02x means System1, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 2.34x to 1.02x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.02 | 1.02 | 1.28 | 2.34 | 0.60 | 0.53 | 1.72 | 0.90 |
| Quick Ratio | 1.02 | 1.02 | 1.28 | 2.34 | 0.60 | 0.53 | 1.72 | 0.82 |
| Cash Ratio | 0.59 | 0.59 | 0.61 | 1.57 | 0.04 | 0.17 | 1.38 | 0.24 |
| Asset Turnover | — | 0.66 | 0.75 | 0.66 | 0.57 | 2.68 | 0.92 | 1.30 |
| Inventory Turnover | — | — | — | — | — | — | — | 24.99 |
| Days Sales Outstanding | — | 78.57 | 66.77 | 50.93 | 44.15 | 47.83 | 54.55 | 67.54 |
SST Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
System1, Inc. returns 2.1% to shareholders annually — split between a 0.1% dividend yield and 2.0% buyback yield.
Dividends
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.2% | 0.3% | — |
| Payout Ratio | — | — | — | — | — | 44.2% | 27.9% | 98.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 0.4% | 0.2% | — |
| FCF Yield | — | — | — | — | — | 0.6% | 0.6% | — |
| Buyback Yield | 2.0% | 1.8% | 0.3% | 0.2% | 11.9% | 0.0% | 7.4% | — |
| Total Shareholder Yield | 2.1% | 1.9% | 0.3% | 0.2% | 11.9% | 0.2% | 7.7% | — |
| Shares Outstanding | — | $8M | $70M | $91M | $92M | $84M | $65M | $89M |
Peer Comparison
Compare SST with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 SSTYou | $28M | -0.3 | -2.3 | — | 37.7% | -23.3% | -127.6% | -39.3% | 0.5 |
 TPVG | $203M | 4.1 | 8.6 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 QNST | $750M | 161.8 | 21.5 | 9.0 | 10.1% | 0.6% | 2.0% | 2.8% | 0.3 |
 RAMP | $2B | 16.8 | 18.8 | 13.5 | 70.7% | 10.9% | 15.2% | 11.1% | 0.3 |
 ACMR | $7B | 80.2 | 54.2 | — | 44.4% | 12.1% | 6.2% | 7.0% | 2.4 |
 FLNT | $59M | -2.9 | — | — | 19.9% | -9.4% | -125.9% | -30.6% | — |
 MGNI | $3B | 18.8 | 15.1 | 15.5 | 62.7% | 13.7% | 17.1% | 9.5% | 1.8 |
 PUBM | $528M | -36.5 | 16.1 | 7.9 | 63.6% | -6.1% | -5.4% | -6.8% | 1.7 |
 IAS | $2B | 45.0 | 13.7 | 22.4 | 78.5% | 11.4% | 3.9% | 4.6% | 0.5 |
 GOOGL | $4.5T | 34.0 | 29.8 | 60.8 | 59.7% | 32.1% | 35.7% | 25.1% | 0.4 |
 META | $1.5T | 24.6 | 14.8 | 31.7 | 82.0% | 41.4% | 30.2% | 27.6% | 0.8 |
| Industrials Median | — | 25.6 | 13.8 | 20.0 | 32.0% | 4.3% | 8.2% | 6.1% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 7 years · Updated daily
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SST — Frequently Asked Questions
Quick answers to the most common questions about buying SST stock.
What is System1, Inc.'s P/E ratio?
System1, Inc.'s current P/E ratio is -0.3x. This places it at the 50th percentile of its historical range.
What is System1, Inc.'s EV/EBITDA?
System1, Inc.'s current EV/EBITDA is -2.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
What is System1, Inc.'s ROE?
System1, Inc.'s return on equity (ROE) is -127.6%. The historical average is -62.1%.
Is SST stock overvalued?
Based on historical data, System1, Inc. is trading at a P/E of -0.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is System1, Inc.'s dividend yield?
System1, Inc.'s current dividend yield is 0.14%.
What are System1, Inc.'s profit margins?
System1, Inc. has 37.7% gross margin and -23.3% operating margin.
How much debt does System1, Inc. have?
System1, Inc.'s Debt/EBITDA ratio is 0.5x, indicating low leverage. A ratio below 2x is generally considered financially healthy.