Latest Ratios: P/E Ratio -0.4x · EV/EBITDA N/A · ROE -71.6%. (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 | $3M | $9M | $6M | $12M | — | — |
| Enterprise Value | $3M | $9M | $6M | $12M | — | — |
| P/E Ratio → | -0.35 | — | — | — | — | — |
| P/S Ratio | 7.35 | 23.55 | 26.73 | — | — | — |
| P/B Ratio | 0.23 | 0.83 | 0.63 | 1.27 | — | — |
| 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 | — | 22.51 | 29.51 | — | — | — |
| 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 | 43.8% | 43.8% | 98.7% | — | — | — |
| Operating Margin | -1322.2% | -1322.2% | -2916.3% | — | — | — |
| Net Profit Margin | -1826.3% | -1826.3% | -4515.3% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -71.6% | -71.6% | -102.5% | -105.0% | -112.2% | -2.5% |
| ROA | -58.5% | -58.5% | -82.5% | -61.9% | -44.0% | -1.3% |
| ROIC | -38.5% | -38.5% | -49.0% | -39.6% | -7.7% | — |
| ROCE | -51.6% | -51.6% | -65.8% | -73.4% | -23.5% | -1.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.10 | 0.12 | 1.99 | 0.90 |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.04 | 0.07 | -0.04 | 1.97 | 0.88 |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | -11.03 | -11.03 | -3.54 | -7.27 | -1.29 | -1.68 |
Net cash position: cash ($882162) exceeds total debt ($467179)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.58 | 0.58 | 0.22 | 0.92 | 0.26 | 0.08 |
| Quick Ratio | 0.58 | 0.58 | 0.22 | 0.92 | 0.26 | 0.03 |
| Cash Ratio | 0.48 | 0.48 | 0.11 | 0.84 | 0.01 | 0.02 |
| Asset Turnover | — | 0.03 | 0.02 | — | — | — |
| Inventory Turnover | — | — | — | — | — | 0.00 |
| Days Sales Outstanding | — | 54.90 | — | — | — | — |
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 | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $9M | $2M | $1M | $1M | $1M |
Critical Liquidity and Regulatory
According to recent market data, TPET trades at a price-to-sales ratio of 7.35, which appears disconnected from its negative earnings profile and suggests investors are pricing the company as a high-risk exploratory call option rather than a traditional energy producer with established cash-generating assets.
The current valuation multiples, including a P/E of -0.35, reflect a market that is essentially ignoring standard earnings-based metrics in favor of speculative geological potential. This pricing suggests that the market may be over-weighting the value of the South Salinas acreage while under-appreciating the significant capital dilution required to reach commercial production.
As reported in financial statements, the company's operating margin of -1322.21% highlights a severe structural imbalance where corporate overhead and exploratory expenses consistently dwarf the limited revenue generated from early-stage production, rendering traditional profitability metrics largely irrelevant for assessing the firm's current earning power.
The extreme volatility in gross margins, which have swung from near-zero to over 90% in recent quarters, indicates that the company lacks a stable production base to amortize its fixed costs. Investors should monitor whether the company can achieve a critical mass of output, as current margins suggest that the business model is not yet self-sustaining.
Based on historical data, TPET's return on invested capital has remained consistently negative, reaching -8.7% in 2026Q2, which indicates that the company is currently destroying shareholder value rather than compounding it through its exploratory drilling activities in the South Salinas project area.
The negative ROIC trend suggests that the capital deployed into the company's leasehold is not yet yielding returns that exceed the cost of capital. This pattern warrants further investigation into whether the company's drilling strategy can ever achieve the efficiency required to generate positive returns on invested capital.
As indicated by recent filings, the company's current ratio of 22.48 in 2026Q2 appears artificially inflated by recent financing events, masking a historically precarious liquidity position that has frequently seen the current ratio drop below 0.50 in previous quarters, leaving little room for operational error.
The reliance on periodic cash infusions to maintain a positive current ratio suggests that the company's liquidity is highly sensitive to capital market conditions. Under severe stress, the lack of consistent operating cash flow could force the company to curtail its exploratory activities, potentially jeopardizing its long-term viability.
The most commonly misapplied metric for Trio Petroleum is the price-to-earnings ratio, which obscures the company's true status as a pre-commercial explorer by suggesting that negative earnings are a temporary cyclical issue rather than a structural feature of a business that has yet to achieve commercial scale.
Analysts should instead focus on metrics like the 'cost per acre' or 'permit approval velocity' to gauge the company's progress, as P/E ratios are fundamentally unsuited for companies in the pilot phase of development. Relying on traditional valuation multiples in this context may lead to a significant mispricing of the firm's actual operational risk.
Includes 30+ ratios · 5 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TPET stock.
Trio Petroleum Corp.'s current P/E ratio is -0.4x. This places it at the 50th percentile of its historical range.
Trio Petroleum Corp.'s return on equity (ROE) is -71.6%. The historical average is -78.8%.
Based on historical data, Trio Petroleum Corp. is trading at a P/E of -0.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Trio Petroleum Corp. has 43.8% gross margin and -1322.2% operating margin.