Latest Ratios: P/E Ratio -7.0x · EV/EBITDA N/A · ROE -25.5%. (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 | $228M | $146M | $274M | $250M | $525M | $254M | — | — |
| Enterprise Value | $213M | $131M | $246M | $235M | $509M | $198M | — | — |
| P/E Ratio → | -7.00 | — | — | — | — | — | — | — |
| P/S Ratio | 3.24 | 2.07 | 4.74 | 2.97 | 5.79 | 3.60 | — | — |
| P/B Ratio | 2.13 | 1.40 | 1.92 | 1.52 | 3.14 | 1.40 | — | — |
| P/FCF | — | — | — | — | — | — | — | — |
| P/OCF | — | — | 269.13 | — | — | — | — | — |
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 | — | 1.85 | 4.26 | 2.79 | 5.61 | 2.79 | — | — |
| 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 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 62.4% | 62.4% | 59.2% | 62.5% | 69.9% | 71.6% | 76.4% | 79.0% |
| Operating Margin | -48.5% | -48.5% | -71.5% | -32.0% | -31.3% | -38.3% | -40.0% | -46.6% |
| Net Profit Margin | -44.7% | -44.7% | -63.2% | -23.4% | -30.5% | -37.5% | -34.5% | -43.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -25.5% | -25.5% | -23.8% | -11.9% | -15.8% | -53.1% | — | -31.9% |
| ROA | -20.6% | -20.6% | -20.7% | -10.5% | -13.9% | -18.8% | -22.5% | -27.3% |
| ROIC | -25.1% | -25.1% | -23.5% | -13.5% | -15.4% | -240.7% | — | -31.9% |
| ROCE | -26.0% | -26.0% | -26.1% | -16.0% | -15.9% | -21.2% | -30.4% | -34.2% |
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 | 0.13 | 0.13 | 0.05 | 0.01 | 0.02 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.15 | -0.19 | -0.09 | -0.10 | -0.31 | — | -0.19 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | -639.53 | — | — | — | -608.00 | -233.32 |
Net cash position: cash ($29M) exceeds total debt ($13M)
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 | 5.17 | 5.17 | 7.57 | 10.97 | 7.60 | 12.68 | 6.84 | 6.95 |
| Quick Ratio | 4.73 | 4.73 | 7.07 | 10.10 | 6.64 | 12.08 | 6.56 | 6.74 |
| Cash Ratio | 4.09 | 4.09 | 6.44 | 8.91 | 5.99 | 11.11 | 5.52 | 5.99 |
| Asset Turnover | — | 0.52 | 0.34 | 0.47 | 0.46 | 0.35 | 0.72 | 0.63 |
| Inventory Turnover | 2.62 | 2.62 | 2.32 | 2.28 | 1.15 | 2.16 | 4.25 | 4.64 |
| Days Sales Outstanding | — | 51.53 | 48.90 | 63.50 | 46.33 | 36.64 | 55.66 | 47.02 |
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 | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 10.5% | 16.4% | 0.4% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 10.5% | 16.4% | 0.4% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $103M | $105M | $102M | $98M | $33M | $14M | $12M |
Insufficient liquidity runway
Based on reported figures, VLN trades at a P/S multiple of 2.95, which appears to discount the company's long-term automotive potential relative to high-R&D peers, suggesting that investors remain wary of the timing and execution risks associated with the MIPI A-PHY standard adoption cycle.
The negative P/E ratio of -6.39 underscores the market's focus on the company's current lack of profitability rather than its future earnings potential. This valuation gap relative to peers like Monolithic Power Systems suggests that the market is currently pricing VLN as a speculative hardware vendor rather than a platform-standard architect.
As reported in financial statements, VLN maintains a structurally high gross margin of 62.2% in 2026Q1, yet this is consistently offset by deep operating losses, with an operating margin of -54.7% that highlights the heavy R&D burden required to sustain its competitive technical position.
The stability of the gross margin suggests that the company's specialized IP retains significant pricing power in the professional AV market. However, the persistent operating margin deficit indicates that the company has yet to achieve the necessary scale to leverage its fixed-cost structure effectively.
According to recent quarterly data, the company's cash conversion cycle has fluctuated significantly, reaching 140 days in 2026Q1, which suggests that inventory management and collection cycles remain highly sensitive to the lumpy nature of automotive design-win revenue and professional AV demand cycles.
The high days inventory outstanding (DIO) of 148 days in 2026Q1 warrants further investigation, as it may indicate potential inventory bloat or a mismatch between production planning and actual end-market demand. This inefficiency ties up critical liquidity that the company cannot afford to lose given its current burn rate.
Based on the company's reported figures, the current ratio of 5.21 in 2026Q1 provides a superficial appearance of strength, yet the rapid consumption of cash reserves suggests that the liquidity position is increasingly vulnerable to further delays in the automotive segment's mass production ramp-up.
While the quick ratio of 4.71 indicates that the company is not overly dependent on inventory to meet short-term obligations, the absolute cash balance of $28.9 million is insufficient to support prolonged R&D spending. Investors should monitor the cash runway closely, as the current burn rate may necessitate dilutive financing.
The market frequently misapplies standard P/E and EV/EBITDA multiples to VLN, which obscures the company's true value as a standards-platform play rather than a commodity component manufacturer, potentially leading to an undervaluation of its long-term strategic importance in the automotive ADAS ecosystem.
Using traditional valuation metrics fails to account for the 'must-have' status that VLN could achieve if MIPI A-PHY becomes the industry default. Analysts should instead focus on non-financial metrics like design-win counts and ecosystem breadth to better gauge the company's intrinsic value beyond its current negative earnings.
Includes 30+ ratios · 7 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying VLN stock.
Valens Semiconductor Ltd.'s current P/E ratio is -7.0x. This places it at the 50th percentile of its historical range.
Valens Semiconductor Ltd.'s return on equity (ROE) is -25.5%. The historical average is -27.0%.
Based on historical data, Valens Semiconductor Ltd. is trading at a P/E of -7.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Valens Semiconductor Ltd. has 62.4% gross margin and -48.5% operating margin.