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VUZIVuzix Corp.
$2.98$248M
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  3. VUZI
  4. Financial Ratios

Vuzix Corp. (VUZI) Financial Ratios

Latest Ratios: P/E Ratio -7.1x · EV/EBITDA N/A · ROE -89.7%. (2006–2025 historical series)

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly

VUZI Valuation Multiples

Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Market Cap$248M$293M$267M$133M$232M$530M$346M$61M$131M$131M$115M
Enterprise Value$228M$273M$250M$106M$160M$411M$311M$52M$113M$116M$102M
P/E Ratio →-7.10——————————
P/S Ratio39.4646.7046.4510.9319.5940.2629.889.1416.1523.7254.05
P/B Ratio6.678.467.171.641.993.697.162.524.296.146.49
P/FCF———————————
P/OCF———————————

P/E links to full P/E history page with 30-year chart

VUZI EV Ratios

Enterprise-value multiples — capital-structure-neutral measures of total business value

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
EV / Revenue—43.4943.378.7713.5431.2126.907.8714.0221.0347.88
EV / EBITDA———————————
EV / EBIT———————————
EV / FCF———————————

VUZI Profitability

Margins and return-on-capital ratios measuring operating efficiency

Margins

Full margin charts and quarterly trend are on the Earnings History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Gross Margin-16.9%-16.9%-84.5%-14.4%19.3%22.0%18.2%-66.1%21.8%-12.2%-54.7%
Operating Margin-515.5%-515.5%-1285.4%-431.2%-356.8%-303.7%-165.2%-398.3%-270.1%-349.5%-871.3%
Net Profit Margin-513.9%-513.9%-1277.9%-413.5%-344.4%-306.7%-155.0%-396.9%-270.3%-354.5%-904.9%

Return on Capital

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
ROE-89.7%-89.7%-124.5%-50.8%-31.3%-42.1%-49.5%-96.8%-84.4%-100.4%-113.9%
ROA-81.2%-81.2%-117.1%-45.9%-29.0%-40.2%-44.4%-83.3%-70.6%-79.8%-91.9%
ROIC-142.3%-142.3%-149.7%-78.7%-90.8%-156.2%-97.3%-137.8%-166.6%-261.7%-275.2%
ROCE-89.3%-89.3%-125.1%-52.8%-32.3%-41.3%-50.9%-94.4%-84.3%-98.4%-103.9%

VUZI Leverage & Debt

Solvency and debt-coverage ratios — lower is generally safer

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Debt / Equity0.030.030.010.000.010.010.030.09——0.08
Debt / EBITDA———————————
Net Debt / Equity—-0.58-0.47-0.32-0.61-0.83-0.72-0.35-0.57-0.70-0.74
Net Debt / EBITDA———————————
Debt / FCF———————————
Interest Coverage————————-1130.58-80.11-27.97

Net cash position: cash ($21M) exceeds total debt ($1M)

VUZI Liquidity & Efficiency

Short-term solvency ratios and asset-utilisation metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Current Ratio5.565.5612.657.965.9733.0014.567.245.863.914.12
Quick Ratio5.125.1210.376.235.2330.0712.585.074.303.203.52
Cash Ratio4.334.338.615.094.7528.9211.654.033.692.743.29
Asset Turnover—0.160.150.140.090.090.220.230.230.210.10
Inventory Turnover3.353.352.211.540.850.851.551.940.871.611.24
Days Sales Outstanding—147.67144.82126.44132.4462.1743.7788.7534.8397.0217.73

VUZI Shareholder Yields

Earnings, FCF, buyback, and dividend yields — total returns to shareholders

Dividends

Full dividend history and growth charts are on the Dividend History page

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Dividend Yield0.0%0.0%———1.9%—————
Payout Ratio———————————

Total Shareholder Return Metrics

MetricTTMFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019FY 2018FY 2017FY 2016
Earnings Yield———————————
FCF Yield———————————
Buyback Yield0.0%0.0%0.0%0.4%0.9%0.0%0.0%0.0%0.0%0.0%0.0%
Total Shareholder Yield0.0%0.0%0.0%0.4%0.9%1.9%0.0%0.0%0.0%0.0%0.0%
Shares Outstanding—$78M$68M$63M$64M$61M$38M$30M$27M$21M$17M

Key Metrics

Growth RegimeMixed
ProfitabilityNegative
Balance SheetVulnerable
Cash FlowBurning
Top Statement Risk

Persistent negative gross margins

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q1)

Speculative Premium Over Fundamental Reality

Based on current market data, Vuzix trades at a price-to-sales multiple of 36.28, which appears significantly detached from its negative gross margins and suggests investors are pricing the firm as a high-growth technology play rather than a hardware manufacturer struggling with unit-level profitability.

The elevated P/S ratio implies that the market is assigning substantial value to the company's intellectual property and potential for future licensing revenue. However, given the lack of a positive forward P/E or meaningful EBITDA, this valuation appears to rely entirely on the assumption of a successful pivot to a high-margin business model.

Capital Erosion Through Persistent Losses

According to historical financial data, Vuzix has consistently generated negative returns on invested capital, with ROIC reaching a trough of -72.9% in 2024Q2, indicating that the company is currently destroying shareholder value rather than compounding it through its ongoing research and development investments.

The persistent negative ROIC reflects a fundamental inability to generate returns that exceed the cost of capital, largely driven by the inability to scale revenue relative to the high fixed-cost base. Investors should monitor whether the recent shift toward OEM manufacturing can eventually stabilize these returns, though current trends suggest continued capital decay.

Working Capital Inefficiencies Impair Liquidity

As reported in quarterly filings, the cash conversion cycle remains highly volatile, peaking at 964 days in 2024Q2, which suggests that the company faces significant challenges in managing inventory turnover and collecting payments from enterprise customers in a timely manner.

The extended CCC, driven by high days-inventory-outstanding, indicates that capital is being trapped in unsold hardware, which poses a risk of obsolescence in the fast-moving AR sector. This inefficiency forces the company to rely on external financing to bridge the gap between production costs and final cash collection.

Liquidity Buffer Masks Operational Fragility

Based on the most recent balance sheet, Vuzix maintains a current ratio of 6.19, yet this figure appears misleading as a measure of financial health because it is primarily a function of low current liabilities rather than a robust, self-sustaining cash-generating engine.

While the high current ratio suggests the company is not under immediate threat of insolvency, the persistent operating cash burn warrants caution regarding the long-term sustainability of this liquidity. The company's reliance on cash reserves to fund operations suggests that the current liquidity position is a temporary buffer rather than a sign of operational strength.

Misapplication of Revenue Growth Metrics

The most commonly misapplied metric for Vuzix is top-line revenue growth, which obscures the underlying quality of earnings by failing to distinguish between repeatable hardware sales and lumpy, non-recurring engineering service contracts that do not necessarily indicate a scalable or sustainable business model.

Analysts should prioritize gross margin expansion and unit-level profitability over simple revenue growth, as the latter can be artificially inflated by one-time R&D projects. Focusing on revenue growth in isolation ignores the reality that the company is currently losing money on every unit of hardware it ships to customers.

Download Financial Ratios Data

Includes 30+ ratios · 20 years · Updated daily

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VUZI — Frequently Asked Questions

Quick answers to the most common questions about buying VUZI stock.

What is Vuzix Corp.'s P/E ratio?

Vuzix Corp.'s current P/E ratio is -7.1x. The historical average is 41.7x.

What is Vuzix Corp.'s ROE?

Vuzix Corp.'s return on equity (ROE) is -89.7%. The historical average is -78.3%.

Is VUZI stock overvalued?

Based on historical data, Vuzix Corp. is trading at a P/E of -7.1x. Compare with industry peers and growth rates for a complete picture.

What is Vuzix Corp.'s dividend yield?

Vuzix Corp.'s current dividend yield is 0.01%.

What are Vuzix Corp.'s profit margins?

Vuzix Corp. has -16.9% gross margin and -515.5% operating margin.