Latest Ratios: P/E Ratio -0.0x · EV/EBITDA N/A · ROE -354.1%. (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 | $739077 | $2M | $116M | $4.9B | $3.5B | $4.0B | — |
| Enterprise Value | $-3833621 | $-2424429 | $114M | $4.9B | $3.5B | $4.0B | — |
| P/E Ratio → | -0.03 | — | — | — | — | — | — |
| P/S Ratio | 0.04 | 0.11 | 5.28 | 237.88 | 173.68 | 189.89 | — |
| P/B Ratio | 0.10 | 0.50 | — | — | — | — | — |
| P/FCF | — | — | — | — | 4681.33 | 897.46 | — |
| P/OCF | — | — | — | — | 4436.41 | 892.89 | — |
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 | — | -0.13 | 5.20 | 238.17 | 173.42 | 189.55 | — |
| EV / EBITDA | — | — | — | — | 3659.33 | 631.29 | — |
| EV / EBIT | — | — | — | — | 5546.93 | 638.29 | — |
| EV / FCF | — | — | — | — | 4674.24 | 895.88 | — |
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 | 26.0% | 26.0% | 66.7% | 58.5% | 65.3% | 72.8% | — |
| Operating Margin | -32.3% | -32.3% | -9.6% | -42.1% | 3.6% | 29.7% | — |
| Net Profit Margin | -80.7% | -80.7% | -40.2% | -50.0% | -4.7% | 29.1% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -354.1% | -354.1% | — | — | — | — | — |
| ROA | -81.6% | -81.6% | -53.4% | -67.8% | -6.5% | 80.3% | -11.0% |
| ROIC | — | — | — | — | — | — | — |
| ROCE | -170.8% | -170.8% | -65.0% | -141.1% | 8.8% | 126.7% | -12.0% |
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 | 1.37 | 1.37 | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | 4.52 | 0.56 | — |
| Net Debt / Equity | — | -1.06 | — | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | -5.55 | -1.11 | — |
| Debt / FCF | — | — | — | — | -7.09 | -1.58 | — |
| Interest Coverage | -3.68 | -3.68 | -0.27 | — | — | 7.38 | — |
Net cash position: cash ($10M) exceeds total debt ($6M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.07 | 1.07 | 0.94 | 1.19 | 1.85 | 2.68 | 12.21 |
| Quick Ratio | 1.01 | 1.01 | 0.79 | 0.99 | 1.56 | 2.34 | 12.21 |
| Cash Ratio | 0.73 | 0.73 | 0.69 | 0.54 | 1.30 | 1.97 | 12.21 |
| Asset Turnover | — | 0.94 | 1.28 | 1.31 | 1.39 | 1.43 | — |
| Inventory Turnover | 16.19 | 16.19 | 3.10 | 4.03 | 3.31 | 3.11 | — |
| Days Sales Outstanding | — | 20.51 | 23.36 | 39.57 | 31.48 | 25.77 | — |
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 | — | — | — | — | 0.1% | 0.0% | — |
| Payout Ratio | — | — | — | — | — | 6.7% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | 0.0% | 0.1% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | — |
| Shares Outstanding | — | $296313 | $344067 | $840600 | $661600 | $821660 | $821660 |
Persistent negative operating margins
Based on reported figures, TRUG trades at a P/S multiple of 0.04, which, according to recent market data, suggests that investors are heavily discounting the company's future revenue potential due to the persistent inability to convert top-line sales into positive earnings or sustainable cash flow generation.
The extremely low P/S ratio indicates that the market views the company as a distressed asset rather than a growth-oriented technology firm. This valuation level implies that investors are pricing in significant execution risk regarding the company's ability to pivot its hardware-heavy business model toward a more profitable software-centric ecosystem.
As reported in financial statements, the company's ROIC has trended into negative territory, reaching -31.8% in 2025Q3, which indicates that the capital deployed into the business is currently destroying shareholder value rather than generating the returns necessary to justify ongoing investment in hardware manufacturing and R&D.
The consistent decay in return on capital metrics highlights a structural inability to achieve economies of scale. This trend suggests that the company's investments in course mapping and simulator technology are not yet yielding the competitive advantage required to offset the high costs of physical unit production.
According to recent quarterly filings, the cash conversion cycle has shown extreme volatility, swinging from -51 days in 2026Q1 to 54 days in 2025Q2, which suggests that the company struggles to manage its inventory and accounts payable effectively in a fluctuating demand environment for simulator hardware.
The erratic nature of the CCC indicates that the company is frequently forced to tie up cash in inventory or rely on extended payment terms from suppliers to manage liquidity. This lack of operational consistency warrants further investigation into the company's supply chain management and its ability to forecast demand accurately.
Based on the provided data, the current ratio has compressed to 0.92 as of 2026Q1, which, as noted in recent financial disclosures, indicates that the company's short-term obligations now exceed its liquid assets, leaving little margin for error in the event of a further market downturn.
The decline in the quick ratio suggests that the company is becoming increasingly dependent on inventory turnover to meet its immediate liabilities. This liquidity profile appears precarious and may necessitate further external financing if the company cannot stabilize its cash burn in the near term.
Investors frequently misapply traditional hardware-based EV/EBITDA multiples to TRUG, which, based on the company's current negative earnings profile, obscures the underlying value of its E6 Connect software ecosystem and fails to account for the high-margin potential of its digital assets compared to its physical hardware.
Using EBITDA as a primary valuation metric for a company in a heavy investment and negative-margin phase is misleading, as it ignores the significant R&D and customer acquisition costs required to maintain the software moat. A more appropriate approach would involve evaluating the company based on software-specific metrics like subscription growth and customer lifetime value, rather than traditional industrial manufacturing multiples.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying TRUG stock.
TruGolf Holdings, Inc.'s current P/E ratio is -0.0x. This places it at the 50th percentile of its historical range.
TruGolf Holdings, Inc.'s return on equity (ROE) is -354.1%. The historical average is -354.1%.
Based on historical data, TruGolf Holdings, 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.
TruGolf Holdings, Inc. has 26.0% gross margin and -32.3% operating margin.