Latest Ratios: P/E Ratio -0.0x · EV/EBITDA N/A · ROE -354.9%. (2020–2025 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 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $6M | $12M | $6M | $10.6B | — | — | — |
| Enterprise Value | $26M | $32M | $18M | $10.6B | — | — | — |
| P/E Ratio → | -0.00 | — | — | — | — | — | — |
| P/S Ratio | 0.52 | 1.04 | 1.13 | 11056.63 | — | — | — |
| P/B Ratio | 0.13 | 1.87 | 0.86 | — | — | — | — |
| 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 | FY 2020 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.78 | 3.29 | 11067.12 | — | — | — |
| 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 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 7.9% | 7.9% | -51.6% | -574.6% | -1302.2% | -1499.1% | — |
| Operating Margin | -172.2% | -172.2% | -542.5% | -5663.2% | -7980.2% | -11500.3% | — |
| Net Profit Margin | -207.9% | -207.9% | -649.3% | -5340.2% | -8549.9% | -10167.2% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -354.9% | -354.9% | -4470.1% | — | — | — | — |
| ROA | -59.2% | -59.2% | -137.1% | -249.1% | -250.4% | -235.2% | -191.0% |
| ROIC | -65.9% | -65.9% | -188.2% | -644.9% | — | — | — |
| ROCE | -173.8% | -173.8% | -2282.8% | — | -999.9% | -4082.0% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.22 | 3.22 | 1.65 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 3.14 | 1.63 | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — |
| Interest Coverage | -1.03 | -1.03 | -3.52 | -31.35 | -60.16 | -34.12 | -48.45 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 0.47 | 0.47 | 0.31 | 0.25 | 0.41 | 0.77 | 0.14 |
| Quick Ratio | 0.35 | 0.35 | 0.16 | 0.13 | 0.22 | 0.59 | 0.14 |
| Cash Ratio | 0.02 | 0.02 | 0.01 | — | 0.01 | 0.15 | 0.00 |
| Asset Turnover | — | 0.25 | 0.16 | 0.06 | 0.03 | 0.01 | — |
| Inventory Turnover | 2.83 | 2.83 | 2.11 | 2.49 | 2.09 | 2.51 | 11.25 |
| Days Sales Outstanding | — | 82.75 | 126.53 | 203.75 | 401.98 | — | — |
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 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| 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 | — | $1M | $21395 | $30920 | $35818 | $35818 | $36 |
Imminent liquidity exhaustion
Based on current market data, TRNR trades at a price-to-sales ratio of 0.52, which, when compared to the broader consumer fitness sector, suggests that investors are heavily discounting the company's future growth prospects due to the precarious state of its balance sheet and persistent operational losses.
The low P/S multiple indicates that the market is pricing the company as a distressed asset rather than a growth-stage technology firm. This valuation implies that any potential upside is contingent upon a successful capital raise or strategic pivot, as the current market price does not appear to assign significant value to the underlying intellectual property or brand equity.
As reported in financial statements, TRNR's ROIC has remained deeply negative, fluctuating between -142.7% and -2.8% over the last ten quarters, which indicates that the company is currently destroying shareholder capital rather than compounding it through its hardware-centric business model and high-cost service delivery.
The persistent negative returns on invested capital suggest that the company's core business model is fundamentally unable to generate returns that exceed its cost of capital. This trend warrants further investigation into whether the current investment in R&D and hardware manufacturing can ever reach a scale that justifies the capital deployed.
According to recent quarterly filings, TRNR's cash conversion cycle has shown extreme volatility, ranging from -362 days to 243 days, which highlights the company's inability to efficiently manage its inventory and vendor payment terms while navigating the logistical complexities of its high-end, white-glove hardware delivery model.
The erratic nature of the CCC suggests that the company lacks the operational leverage to dictate terms to suppliers or manage inventory turnover effectively. Investors should monitor whether these inefficiencies are structural or merely a byproduct of the company's current liquidity constraints and inconsistent sales volume.
Based on the most recent quarterly data, TRNR's current ratio of 0.39 indicates a severe liquidity deficit, as the company's short-term assets are insufficient to cover its immediate obligations, leaving it highly vulnerable to any disruption in its ability to secure additional financing or generate rapid cash inflows.
The quick ratio, which excludes inventory, is even more concerning at 0.26, suggesting that the company's liquidity is heavily dependent on its ability to sell off hardware inventory that may be difficult to liquidate in a downturn. This position appears unsustainable and suggests that the company may face an imminent liquidity crisis without immediate intervention.
Analysts frequently over-rely on top-line revenue growth as a proxy for success, yet this metric obscures the underlying margin dilution and cash burn that characterize TRNR's business model, making it a misleading indicator of the company's true financial health and long-term viability in the fitness market.
Instead of focusing on revenue growth, investors should prioritize the contribution margin per unit and the cash burn rate relative to the remaining runway. Relying on revenue growth alone ignores the reality that each additional sale may currently be consuming more cash than it generates, thereby accelerating the company's path toward insolvency.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying TRNR stock.
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Interactive Strength Inc.'s return on equity (ROE) is -354.9%. The historical average is -354.9%.
Based on historical data, Interactive Strength Inc. is trading at a P/E of -0.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Interactive Strength Inc. has 7.9% gross margin and -172.2% operating margin.