Latest Ratios: P/E Ratio 19.7x · EV/EBITDA 20.3x · ROE 36.1%. (2005–2025 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $337M | $175M | $293M | $6M | $11M | $8M | $15M | $34M | $16M | $8M | $620822 |
| Enterprise Value | $293M | $131M | $302M | $-1566330 | $-4430974 | $8M | $-920520 | $29M | $11M | $7M | $276822 |
| P/E Ratio → | 19.67 | 11.59 | 49.42 | 79.41 | — | — | 186.84 | 271.67 | 6.46 | 10.40 | — |
| P/S Ratio | 1.37 | 0.71 | 1.98 | 0.11 | 0.37 | 0.30 | 0.33 | 1.04 | 0.71 | 0.44 | 0.02 |
| P/B Ratio | 3.87 | 2.28 | 41.04 | 1.68 | 3.81 | 3.75 | 4.68 | 11.89 | 6.35 | — | — |
| P/FCF | 158.91 | 82.37 | 43.00 | — | 0.79 | — | 1.55 | 14.09 | 9.50 | — | 0.32 |
| P/OCF | 9.66 | 5.01 | 19.15 | — | 0.76 | — | 1.49 | 11.32 | 8.29 | — | 0.28 |
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.53 | 2.04 | -0.03 | -0.14 | 0.29 | -0.02 | 0.89 | 0.51 | 0.41 | 0.01 |
| EV / EBITDA | 20.34 | 9.08 | 33.19 | -0.76 | -3.42 | — | -7.14 | 34.20 | 3.51 | 4.69 | — |
| EV / EBIT | 27.54 | 12.29 | 34.09 | -0.90 | -4.85 | — | -1.86 | 60.57 | 3.98 | 6.75 | — |
| EV / FCF | — | 61.68 | 44.39 | — | -0.31 | — | -0.10 | 12.01 | 6.88 | — | 0.14 |
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.7% | 12.7% | 15.1% | 20.2% | 29.3% | 23.2% | 15.1% | 20.1% | 38.0% | 42.2% | 26.3% |
| Operating Margin | 4.3% | 4.3% | 5.7% | 3.2% | 3.0% | -3.0% | -0.9% | 1.5% | 12.8% | 6.0% | -2.3% |
| Net Profit Margin | 6.2% | 6.2% | 4.0% | 0.1% | -0.2% | -4.7% | 0.2% | 0.4% | 10.9% | 4.2% | -3.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 36.1% | 36.1% | 111.8% | 2.3% | -2.8% | -48.2% | 2.6% | 4.7% | 224.0% | — | — |
| ROA | 10.7% | 10.7% | 9.8% | 0.3% | -0.3% | -6.0% | 0.4% | 0.9% | 30.8% | 10.0% | -9.5% |
| ROIC | 32.3% | 32.3% | 100.8% | — | — | -34.5% | — | — | — | — | -47475.0% |
| ROCE | 14.0% | 14.0% | 36.3% | 24.3% | 12.7% | -12.9% | -6.8% | 9.1% | 96.6% | 260.8% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.54 | 0.54 | 4.58 | 1.22 | 1.63 | 3.45 | 1.00 | 1.26 | 0.74 | — | — |
| Debt / EBITDA | 2.89 | 2.89 | 3.59 | 2.09 | 3.68 | — | 24.73 | 4.27 | 0.57 | 1.04 | — |
| Net Debt / Equity | — | -0.57 | 1.33 | -2.12 | -5.32 | -0.18 | -4.97 | -1.76 | -1.75 | — | — |
| Net Debt / EBITDA | -3.05 | -3.05 | 1.04 | -3.63 | -12.04 | — | -122.65 | -5.94 | -1.33 | -0.39 | — |
| Debt / FCF | — | -20.69 | 1.39 | — | -1.10 | — | -1.65 | -2.09 | -2.62 | — | -0.18 |
| Interest Coverage | 2.47 | 2.47 | 3.24 | 0.89 | 0.98 | -1.87 | 1.35 | 1.53 | 7.11 | 3.36 | -1.75 |
Net cash position: cash ($86M) exceeds total debt ($42M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.63 | 1.63 | 1.02 | 1.05 | 1.01 | 0.97 | 1.16 | 1.22 | 1.63 | 0.70 | 0.59 |
| Quick Ratio | 1.41 | 1.41 | 0.71 | 0.92 | 0.97 | 0.90 | 1.15 | 1.11 | 1.60 | 0.67 | 0.58 |
| Cash Ratio | 1.18 | 1.18 | 0.41 | 0.64 | 0.84 | 0.66 | 1.05 | 0.75 | 1.35 | 0.43 | 0.24 |
| Asset Turnover | — | 1.33 | 1.53 | 2.12 | 0.98 | 1.42 | 1.89 | 1.87 | 2.45 | 2.72 | 3.19 |
| Inventory Turnover | 13.43 | 13.43 | 7.12 | 18.52 | 25.12 | 24.85 | 194.21 | 19.36 | 128.26 | 79.04 | 341.78 |
| Days Sales Outstanding | — | 23.04 | 42.02 | 32.45 | 35.46 | 32.21 | 13.94 | 45.05 | 14.40 | 24.17 | 39.04 |
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.1% | 8.6% | 2.0% | 1.3% | — | — | 0.5% | 0.4% | 15.5% | 9.6% | — |
| FCF Yield | 0.6% | 1.2% | 2.3% | — | 126.7% | — | 64.4% | 7.1% | 10.5% | — | 312.8% |
| Buyback Yield | 1.5% | 2.8% | 1.5% | 0.7% | 1.2% | 2.4% | 1.2% | 0.5% | 0.0% | 0.0% | 0.2% |
| Total Shareholder Yield | 1.5% | 2.8% | 1.5% | 0.7% | 1.2% | 2.4% | 1.2% | 0.5% | 0.0% | 0.0% | 0.2% |
| Shares Outstanding | — | $25M | $25M | $22M | $20M | $18M | $21M | $21M | $19M | $16M | $15M |
Project-based revenue volatility
According to current market data, TSSI trades at a forward P/E of 37.65, which appears significantly elevated compared to its historical TTM P/E of 18.56, suggesting that investors are pricing in aggressive growth expectations that may not align with the company's thin 4.33% operating margin profile.
The valuation gap between the TTM and forward multiples implies a market expectation of rapid earnings expansion that remains unproven given the project-based nature of the business. Investors should monitor whether this premium is justified by sustainable margin improvement or if it reflects a temporary speculative interest in AI-related infrastructure plays.
Based on reported financial statements, TSSI's ROIC has exhibited extreme volatility, ranging from a peak of 19.5% in 2025Q1 to a negative 2.7% in 2025Q3, indicating that the company struggles to consistently compound capital due to the lumpy, project-driven nature of its systems integration business model.
The wide variance in returns suggests that the company's capital efficiency is highly sensitive to the timing of large-scale deployments rather than structural operational excellence. This inconsistency warrants caution, as it implies that the firm's ability to generate value is tethered to external project cycles rather than internal compounding.
As reported in recent SEC filings, TSSI's cash conversion cycle remains deeply negative, fluctuating between -11 and -89 days, which suggests that the company effectively utilizes customer deposits to fund its hardware procurement, thereby masking the underlying operational efficiency of its integration services.
While a negative CCC is often viewed as a sign of leverage over suppliers, in TSSI's case, it appears to be a function of customer-funded inventory cycles. This reliance on prepayments creates a liquidity profile that is highly vulnerable to shifts in customer payment terms or project delays.
The P/E ratio is frequently misapplied to TSSI, as it fails to account for the significant distortion caused by pass-through hardware revenue and non-recurring project milestones, which can artificially inflate or deflate earnings in any given quarter, rendering the metric a poor indicator of true earning power.
Analysts should instead focus on gross profit per square foot of integration space to normalize for the volatility of hardware procurement costs. Relying on P/E ignores the reality that TSSI acts more as a capacity-constrained service provider than a traditional software or high-margin technology firm.
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying TSSI stock.
TSS, Inc.'s current P/E ratio is 19.7x. The historical average is 50.7x. This places it at the 44th percentile of its historical range.
TSS, Inc.'s current EV/EBITDA is 20.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.4x.
TSS, Inc.'s return on equity (ROE) is 36.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -8.2%.
Based on historical data, TSS, Inc. is trading at a P/E of 19.7x. This is at the 44th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
TSS, Inc. has 12.7% gross margin and 4.3% operating margin.
TSS, Inc.'s Debt/EBITDA ratio is 2.9x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.