Latest Ratios: P/E Ratio -0.5x · EV/EBITDA N/A · ROE -28.3%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $55M | $24M | $7M | $805M | $1.4B | $88M | — | — |
| Enterprise Value | $79M | $48M | $20M | $826M | $1.4B | $75M | — | — |
| P/E Ratio → | -0.48 | — | — | — | — | 29.48 | — | — |
| P/S Ratio | 3.45 | 1.49 | 0.29 | 22.08 | 59.09 | 3.66 | — | — |
| P/B Ratio | 0.07 | 0.26 | 1.14 | 28.90 | 47.34 | 4.16 | — | — |
| P/FCF | — | — | — | — | — | 58.17 | — | — |
| P/OCF | — | — | — | 3969.41 | 2611.48 | 30.03 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.06 | 0.78 | 22.68 | 59.45 | 3.10 | — | — |
| EV / EBITDA | — | — | — | — | — | 30.36 | — | — |
| EV / EBIT | — | — | — | — | — | 52.28 | — | — |
| EV / FCF | — | — | — | — | — | 49.16 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.7% | 68.7% | 49.3% | 57.7% | 64.5% | 49.4% | 34.7% | 46.9% |
| Operating Margin | -79.1% | -79.1% | -86.4% | -33.7% | -28.1% | 5.9% | -65.3% | -26.7% |
| Net Profit Margin | -86.5% | -86.5% | -91.0% | -46.5% | -9.1% | 12.4% | -72.6% | -26.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -28.3% | -28.3% | -137.7% | -59.8% | -8.4% | 25.5% | -125.6% | -9.2% |
| ROA | -18.6% | -18.6% | -54.2% | -30.2% | -5.5% | 17.7% | -77.4% | -7.8% |
| ROIC | -14.0% | -14.0% | -48.8% | -21.2% | -21.8% | 18.3% | -106.1% | — |
| ROCE | -24.5% | -24.5% | -86.0% | -30.8% | -21.7% | 11.7% | -104.3% | -9.2% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.31 | 0.31 | 2.06 | 0.95 | 0.54 | 0.04 | 1.31 | — |
| Debt / EBITDA | — | — | — | — | — | 0.35 | — | — |
| Net Debt / Equity | — | 0.28 | 1.96 | 0.78 | 0.29 | -0.64 | 0.90 | -0.58 |
| Net Debt / EBITDA | — | — | — | — | — | -5.56 | — | — |
| Debt / FCF | — | — | — | — | — | -9.01 | — | — |
| Interest Coverage | -10.97 | -10.97 | -4.29 | -1.81 | -32.11 | 2.69 | -34.96 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.74 | 1.74 | 0.90 | 1.34 | 1.68 | 3.14 | 0.75 | 4.62 |
| Quick Ratio | 1.71 | 1.71 | 0.79 | 1.13 | 1.05 | 2.78 | 0.34 | 3.59 |
| Cash Ratio | 0.09 | 0.09 | 0.05 | 0.20 | 0.71 | 2.50 | 0.25 | 3.34 |
| Asset Turnover | — | 0.13 | 1.11 | 0.57 | 0.48 | 0.88 | 1.16 | 0.29 |
| Inventory Turnover | 4.29 | 4.29 | 9.20 | 3.21 | 1.27 | 5.82 | 3.34 | 1.03 |
| Days Sales Outstanding | — | 55.21 | 67.66 | 21.19 | 34.10 | 19.35 | 8.13 | 24.42 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 3.4% | — | — |
| FCF Yield | — | — | — | — | — | 1.7% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | — | — |
| Shares Outstanding | — | $8M | $1M | $18M | $16M | $712896 | $15M | $15M |
Liquidity and insolvency risk
Based on reported financial data, Upexi's P/S ratio of 3.45x appears disconnected from its negative earnings profile, suggesting that the market is pricing in significant turnaround potential or speculative value rather than current fundamental performance, as evidenced by the lack of a meaningful forward P/E multiple.
The absence of positive P/E or EV/EBITDA multiples underscores the company's current status as a distressed asset rather than a growth-oriented aggregator. Investors should monitor whether the current valuation floor holds as the company attempts to reconcile its high-margin brand portfolio with its unsustainable corporate overhead.
As reported in financial statements, Upexi's ROIC has trended into negative territory, reaching -2.0% in 2026Q3, which indicates that the company is currently destroying shareholder value rather than compounding it through its acquisition-led strategy, a stark reversal from the 19.8% peak observed in 2026Q1.
The volatility in return metrics suggests that the company's capital allocation strategy is highly sensitive to the success of individual brand integrations. The inability to maintain positive returns on invested capital warrants further investigation into whether the underlying brands possess the long-term competitive advantages originally envisioned by management.
According to recent SEC filings, Upexi's cash conversion cycle has exhibited extreme volatility, swinging from 424 days in 2024Q2 to 49 days in 2026Q3, highlighting significant inefficiencies in inventory management and a potential reliance on extended supplier payment terms to manage its constrained liquidity position.
The erratic nature of the CCC suggests that the company struggles to synchronize its inventory procurement with actual consumer demand on platforms like Amazon. This inconsistency in working capital management likely exacerbates the company's cash burn, as capital remains trapped in slow-moving inventory rather than funding operations.
Based on Upexi's reported figures, the current ratio of 1.72 in 2026Q3 masks a precarious liquidity situation, as the company's cash reserves remain insufficient to cover ongoing operating losses, leaving the firm vulnerable to sudden shifts in marketplace payment terms or unexpected increases in fulfillment costs.
While the current ratio appears superficially adequate, the reliance on inventory to meet short-term obligations is a significant risk factor given the potential for impairment in the wellness and beauty categories. Investors should monitor the company's ability to access external financing, as internal cash generation remains insufficient.
As indicated by recent financial statements, the most commonly misapplied metric for Upexi is its high gross margin, which reached 93.1% in 2026Q3, as it creates a false sense of profitability that ignores the massive SG&A and marketing costs required to sustain the aggregator business model.
Analysts often focus on the high gross margin as evidence of a strong moat, but this metric obscures the reality that the company's unit-level economics are insufficient to cover its fixed corporate structure. A more appropriate metric for this business model would be contribution margin after variable marketing and fulfillment costs.
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Quick answers to the most common questions about buying UPXI stock.
Upexi, Inc.'s current P/E ratio is -0.5x. The historical average is 29.5x.
Upexi, Inc.'s return on equity (ROE) is -28.3%. The historical average is -49.1%.
Based on historical data, Upexi, Inc. is trading at a P/E of -0.5x. Compare with industry peers and growth rates for a complete picture.
Upexi, Inc. has 68.7% gross margin and -79.1% operating margin.