Latest Ratios: P/E Ratio -31.3x · EV/EBITDA 77.8x · ROE -65.2%. (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 | $4.8B | $3.8B | $3.9B | — | — | — |
| Enterprise Value | $5.5B | $16.4B | $11.7B | — | — | — |
| P/E Ratio → | -31.26 | — | 11.78 | — | — | — |
| P/S Ratio | 1.15 | 0.05 | 0.07 | — | — | — |
| P/B Ratio | 20.22 | 0.93 | 0.98 | — | — | — |
| P/FCF | 74.30 | 3.39 | 3.01 | — | — | — |
| P/OCF | 18.86 | 0.86 | 1.05 | — | — | — |
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 | — | 0.22 | 0.20 | — | — | — |
| EV / EBITDA | 77.82 | 13.20 | 4.12 | — | — | — |
| EV / EBIT | — | — | 5.96 | — | — | — |
| EV / FCF | — | 14.49 | 8.95 | — | — | — |
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 | 16.2% | 16.2% | 16.3% | 16.0% | 13.1% | 13.0% |
| Operating Margin | -0.7% | -0.7% | 2.3% | 1.8% | 1.6% | 1.7% |
| Net Profit Margin | -3.6% | -3.6% | 0.6% | -0.7% | -1.7% | -3.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -65.2% | -65.2% | 8.3% | — | — | — |
| ROA | -10.0% | -10.0% | 1.8% | -2.3% | -5.5% | -10.3% |
| ROIC | -2.8% | -2.8% | 11.1% | 10.9% | 9.9% | 11.0% |
| ROCE | -4.1% | -4.1% | 15.1% | 14.4% | 12.4% | 12.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 3.39 | 3.39 | 2.28 | — | — | — |
| Debt / EBITDA | 11.26 | 11.26 | 3.23 | 6.32 | 8.35 | 8.74 |
| Net Debt / Equity | — | 3.04 | 1.93 | — | — | — |
| Net Debt / EBITDA | 10.11 | 10.11 | 2.74 | 5.69 | 7.57 | 7.67 |
| Debt / FCF | — | 11.10 | 5.94 | 7.99 | 9.66 | 8.57 |
| Interest Coverage | -0.59 | -0.59 | 1.57 | 0.93 | 0.69 | 0.28 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.62 | 0.62 | 0.76 | 0.49 | 0.53 | 0.57 |
| Quick Ratio | 0.35 | 0.35 | 0.49 | 0.23 | 0.25 | 0.29 |
| Cash Ratio | 0.27 | 0.27 | 0.40 | 0.14 | 0.15 | 0.28 |
| Asset Turnover | — | 2.40 | 2.52 | 2.95 | 2.69 | 2.90 |
| Inventory Turnover | 14.55 | 14.55 | 15.82 | 15.71 | 14.29 | 14.48 |
| Days Sales Outstanding | — | 6.47 | 5.97 | 0.09 | 0.23 | 6.71 |
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 | — | — | 8.5% | — | — | — |
| FCF Yield | 1.3% | 29.5% | 33.2% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $115M | $139M | $84M | $84M | $84M |
Aggressive expansion-driven cash burn
As reported in recent financial statements, TBBB trades at an EV/EBITDA of 78.63, a valuation that appears disconnected from its current negative net margin of -2.4% and suggests investors are pricing in aggressive future growth rather than current fundamental earning power or historical peer benchmarks.
The current valuation multiples imply that the market is valuing the company on a price-per-store or revenue-growth basis rather than traditional earnings metrics. This high-multiple environment warrants caution, as it leaves little room for error should the company's aggressive store rollout fail to achieve the expected economies of scale.
Based on TBBB's reported figures, the ROIC has fluctuated significantly, reaching -0.1% in 2026Q1, which indicates that the company is currently failing to generate returns on invested capital that exceed its cost of capital during this intensive phase of physical store network development.
The volatility in ROIC suggests that the company's capital allocation is heavily skewed toward front-loaded growth expenditures. Investors should monitor whether the company can stabilize these returns as the store base matures and the initial costs of market entry are absorbed by higher unit volumes.
According to quarterly filings, TBBB maintains a negative cash conversion cycle of -42 days as of 2026Q1, demonstrating that the company effectively utilizes supplier credit to finance its inventory, a critical operational lever that helps mitigate the cash burn associated with its rapid store expansion.
This negative CCC is a hallmark of a successful hard-discount model, allowing the company to operate with minimal working capital investment. However, this efficiency is highly dependent on maintaining strong supplier relationships, which could be tested if the company's aggressive growth trajectory leads to payment delays or procurement friction.
As indicated by the latest balance sheet data, TBBB's debt-to-equity ratio has climbed to 3.43, a level that appears increasingly strained compared to historical norms and suggests that the company is relying heavily on external financing to sustain its aggressive store rollout in the Mexican market.
The rising leverage profile, combined with a low interest coverage ratio of 0.07, indicates that the company's ability to service its debt is becoming more precarious. This warrants further investigation into the company's refinancing risk, particularly if interest rates in Mexico remain elevated or if operational cash flow fails to turn positive.
Financial analysts frequently misapply the P/E ratio to TBBB, which is fundamentally flawed given the company's current negative net income and the heavy impact of non-cash stock-based compensation that distorts the bottom line and obscures the underlying operational health of the hard-discount business model.
Instead of P/E, investors should focus on EV/Sales or EBITDA-based metrics to better understand the company's revenue-generating capacity and operational efficiency. Relying on earnings-based multiples in this context may lead to a fundamental misunderstanding of the company's growth-at-all-costs strategy and its long-term path to profitability.
Includes 30+ ratios · 5 years · Updated daily
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Quick answers to the most common questions about buying TBBB stock.
BBB Foods Inc.'s current P/E ratio is -31.3x. The historical average is 11.8x.
BBB Foods Inc.'s current EV/EBITDA is 77.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.7x.
BBB Foods Inc.'s return on equity (ROE) is -65.2%. The historical average is -28.5%.
Based on historical data, BBB Foods Inc. is trading at a P/E of -31.3x. Compare with industry peers and growth rates for a complete picture.
BBB Foods Inc. has 16.2% gross margin and -0.7% operating margin.
BBB Foods Inc.'s Debt/EBITDA ratio is 11.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.