Latest Ratios: P/E Ratio -54.6x · EV/EBITDA 207.2x · ROE -13.6%. (1999–2025 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 | $82M | $37M | $39M | $35M | $34M | $87M | $41M | $20M | $20M | $23M | $15M |
| Enterprise Value | $78M | $33M | $35M | $31M | $31M | $83M | $39M | $21M | $17M | $18M | $10M |
| P/E Ratio → | -54.61 | — | 12.17 | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.88 | 0.43 | 0.47 | 0.42 | 0.48 | 1.41 | 1.28 | 0.72 | 0.80 | 1.56 | 1.20 |
| P/B Ratio | 4.45 | 2.04 | 2.05 | 2.29 | 2.41 | 4.68 | 2.47 | 2.67 | 2.09 | 1.73 | 1.61 |
| P/FCF | — | 33.95 | 20.59 | 12.94 | — | 3.06 | 7.57 | — | — | — | 20.93 |
| P/OCF | 53.96 | 24.19 | 13.54 | 9.86 | — | 2.93 | 6.54 | — | — | — | 17.09 |
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 | — | 0.39 | 0.42 | 0.37 | 0.45 | 1.34 | 1.21 | 0.73 | 0.70 | 1.23 | 0.86 |
| EV / EBITDA | 207.16 | — | 44.16 | 193.71 | — | 33.43 | — | — | — | — | — |
| EV / EBIT | — | — | 47.83 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 30.66 | 18.39 | 11.53 | — | 2.92 | 7.18 | — | — | — | 14.98 |
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 | 23.1% | 23.1% | 23.7% | 22.5% | 21.0% | 25.2% | 22.9% | 21.1% | 22.3% | 25.9% | 31.3% |
| Operating Margin | -2.8% | -2.8% | -1.8% | -2.3% | -7.5% | -0.3% | -11.6% | -18.0% | -15.1% | -19.5% | -11.3% |
| Net Profit Margin | -2.9% | -2.9% | 4.0% | -0.6% | -7.9% | -0.5% | -9.0% | -18.1% | -15.1% | -20.6% | -9.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -13.6% | -13.6% | 19.3% | -3.3% | -33.6% | -1.8% | -23.9% | -59.5% | -33.2% | -27.2% | -13.2% |
| ROA | -2.1% | -2.1% | 3.1% | -0.5% | -4.7% | -0.3% | -4.0% | -7.9% | -5.6% | -4.4% | -1.7% |
| ROIC | -12.1% | -12.1% | -8.4% | -12.8% | -30.3% | -0.8% | -24.9% | -50.6% | -37.1% | -32.2% | -20.5% |
| ROCE | -10.9% | -10.9% | -7.4% | -11.3% | -27.8% | -0.8% | -25.9% | -51.8% | -33.1% | -25.6% | -15.0% |
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 | 0.22 | 0.22 | 0.20 | 0.22 | 0.22 | 0.17 | 0.17 | 0.35 | — | — | — |
| Debt / EBITDA | — | — | 4.88 | 21.25 | — | 1.25 | — | — | — | — | — |
| Net Debt / Equity | — | -0.20 | -0.22 | -0.25 | -0.19 | -0.22 | -0.13 | 0.07 | -0.28 | -0.37 | -0.46 |
| Net Debt / EBITDA | — | — | -5.28 | -23.75 | — | -1.67 | — | — | — | — | — |
| Debt / FCF | — | -3.29 | -2.20 | -1.41 | — | -0.15 | -0.40 | — | — | — | -5.95 |
| Interest Coverage | -37.39 | -37.39 | 13.61 | -34.10 | -1283.43 | -34.18 | — | — | — | — | — |
Net cash position: cash ($7M) exceeds total debt ($4M)
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 | 1.08 | 1.08 | 1.12 | 1.09 | 1.07 | 1.08 | 1.09 | 1.03 | 1.04 | 1.09 | 1.07 |
| Quick Ratio | 1.08 | 1.08 | 1.12 | 1.09 | 1.06 | 1.07 | 1.09 | 1.03 | 0.82 | 0.81 | 0.81 |
| Cash Ratio | 0.07 | 0.07 | 0.09 | 0.08 | 0.07 | 0.06 | 0.08 | 0.04 | 0.05 | 0.09 | 0.07 |
| Asset Turnover | — | 0.63 | 0.77 | 0.77 | 0.71 | 0.46 | 0.39 | 0.46 | 0.37 | 0.22 | 0.17 |
| Inventory Turnover | 142.31 | 142.31 | 156.81 | 151.35 | 108.08 | 106.57 | 140.97 | — | 1.53 | 0.72 | 0.52 |
| Days Sales Outstanding | — | 22.55 | 28.82 | 24.59 | 22.98 | 29.34 | 32.41 | 16.49 | 19.30 | 28.05 | 33.48 |
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 | — | — | 8.2% | — | — | — | — | — | — | — | — |
| FCF Yield | — | 2.9% | 4.9% | 7.7% | — | 32.7% | 13.2% | — | — | — | 4.8% |
| Buyback Yield | 1.3% | 2.9% | 3.6% | 1.3% | 4.0% | 0.3% | 0.7% | 0.4% | 4.9% | 0.5% | 3.0% |
| Total Shareholder Yield | 1.3% | 2.9% | 3.6% | 1.3% | 4.0% | 0.3% | 0.7% | 0.4% | 4.9% | 0.5% | 3.0% |
| Shares Outstanding | — | $27M | $27M | $20M | $20M | $20M | $15M | $13M | $12M | $9M | $8M |
Includes 30+ ratios · 27 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying USIO stock.
Usio, Inc.'s current P/E ratio is -54.6x. The historical average is 17.2x.
Usio, Inc.'s current EV/EBITDA is 207.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 25.7x.
Usio, Inc.'s return on equity (ROE) is -13.6%. The historical average is -14.0%.
Based on historical data, Usio, Inc. is trading at a P/E of -54.6x. Compare with industry peers and growth rates for a complete picture.
Usio, Inc. has 23.1% gross margin and -2.8% operating margin.
Key Metrics
Top Statement Risk
Persistent Operating Margin Deficit
Metrics are mathematically derived from official filings.
Micro-Cap Discount Reflects Earnings Uncertainty
Based on reported figures, USIO trades at a price-to-sales multiple of 0.71, which suggests that the market is heavily discounting the company's valuation due to its persistent inability to generate consistent GAAP profitability compared to larger, more established peers in the integrated payments and services sector.
The negative TTM P/E ratio highlights the company's struggle to achieve the necessary scale to cover its fixed operating costs. Investors should interpret this valuation as a reflection of the market's skepticism regarding the company's ability to convert its hybrid document-and-payment model into sustainable earnings growth.
Capital Efficiency Remains Structurally Challenged
According to recent financial statements, USIO's ROIC has frequently dipped into negative territory, with a 2026Q1 figure of 1.2% barely exceeding zero, indicating that the company is currently failing to generate returns on invested capital that would justify its historical capital allocation and infrastructure investments.
The volatility in ROIC suggests that the company's core business segments are not yet compounding value effectively. This trend warrants further investigation into whether the current capital base is being deployed into high-growth initiatives or if it is merely sustaining underutilized legacy assets.
Working Capital Cycles Mask Operational Friction
As reported in quarterly filings, USIO's asset turnover has remained stagnant near 0.20, which implies that the company's revenue generation is not keeping pace with its asset base, potentially signaling inefficiencies in how the firm utilizes its physical printing and digital processing infrastructure.
The stability in DSO around 22 days suggests a relatively consistent collection cycle, yet the lack of improvement in asset turnover indicates that the company may be struggling to scale its revenue without proportional increases in its asset footprint. This suggests that the business model may be more capital-intensive than a pure-play fintech firm.
Conservative Debt Profile Amidst Losses
Based on reported figures, USIO maintains a debt-to-equity ratio of approximately 0.20, which indicates that the company has avoided significant reliance on external credit markets despite its ongoing struggle to generate consistent positive operating cash flow from its core payment processing and document services.
While the low leverage provides a buffer against interest rate volatility, the lack of consistent interest coverage—often dipping into negative territory—suggests that the company's financial stability is currently dependent on its existing cash reserves rather than operational cash generation. Investors should monitor whether this conservative stance is a strategic choice or a limitation of the company's current credit profile.
Misapplication of Revenue-Based Valuation Metrics
The market frequently misapplies the price-to-sales ratio to USIO, which obscures the underlying take-rate dynamics by failing to distinguish between low-margin pass-through interchange fees and the higher-margin service fees that actually drive the company's long-term economic value and potential for future operating leverage.
Analysts should instead focus on net revenue or gross profit growth to better assess the company's true earning power. Relying on headline revenue figures may lead to an overestimation of the company's scale and a misunderstanding of the margin pressures inherent in its hybrid business model.