Latest Ratios: P/E Ratio -7.1x · EV/EBITDA N/A · ROE -21.5%. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $1.7B | $2.7B | $3.9B | — | — | — |
| Enterprise Value | $801M | $-3628729824 | $-220043340 | — | — | — |
| P/E Ratio → | -7.11 | — | — | — | — | — |
| P/S Ratio | 17.63 | 4.02 | 10.81 | — | — | — |
| P/B Ratio | 1.46 | 0.34 | 0.55 | — | — | — |
| P/FCF | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | -5.45 | -0.61 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| Gross Margin | 30.2% | 30.2% | 30.7% | 45.7% | 44.1% | 37.4% |
| Operating Margin | -270.5% | -270.5% | -605.1% | -389.8% | -147.7% | -362.2% |
| Net Profit Margin | -241.7% | -241.7% | -696.9% | -485.0% | -246.1% | -729.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -21.5% | -21.5% | -125.4% | — | — | — |
| ROA | -19.4% | -19.4% | -37.8% | -35.4% | -29.9% | -30.5% |
| ROIC | -59.5% | -59.5% | -55.7% | — | — | — |
| ROCE | -23.9% | -23.9% | -104.7% | -153.1% | -19.3% | -16.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 0.02 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.80 | -0.58 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | -202.86 | -202.86 | -895.44 | -681.17 | -362.32 | -179.87 |
Net cash position: cash ($6.7B) exceeds total debt ($380M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 8.20 | 8.20 | 13.43 | 0.63 | 14.02 | 12.89 |
| Quick Ratio | 7.88 | 7.88 | 13.06 | 0.60 | 13.59 | 12.40 |
| Cash Ratio | 7.12 | 7.12 | 12.12 | 0.53 | 12.46 | 11.86 |
| Asset Turnover | — | 0.07 | 0.05 | 0.07 | 0.10 | 0.04 |
| Inventory Turnover | 1.45 | 1.45 | 1.22 | 1.00 | 1.89 | 0.76 |
| Days Sales Outstanding | — | 271.18 | 442.02 | 511.54 | 270.69 | 238.34 |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $308M | $275M | $268M | $268M | $269M |
Geopolitical tech-restriction exposure
Based on reported figures, WeRide trades at a price-to-sales multiple of 17.63x, which suggests that the market is pricing in significant future scaling potential rather than current earnings, as the company remains in a deep pre-profitability phase with a negative trailing twelve-month price-to-earnings ratio of -7.11.
The elevated P/S multiple indicates that investors are valuing the firm as a high-growth technology platform rather than a traditional industrial entity. This valuation appears to hinge on the successful commercialization of its autonomous software stack, as the current revenue base is insufficient to justify such a premium without aggressive long-term growth assumptions.
As reported in financial statements, the company maintains a 30.21% gross margin, which indicates that current revenue is heavily tied to hardware-inclusive project sales, thereby limiting the operating leverage typically associated with pure-play software providers and keeping the net margin deeply negative at -270.48%.
The disparity between gross and operating margins highlights the massive R&D and fleet maintenance costs required to sustain the current autonomous deployment model. Investors should monitor whether the company can transition toward a software-licensing model, as the current hardware-heavy cost structure appears to be a significant drag on potential profitability.
According to recent SEC filings, WeRide holds $6.68 billion in cash and equivalents, a substantial position that provides a multi-year liquidity runway and suggests the company is well-positioned to fund its aggressive R&D and fleet expansion despite the lack of positive operating cash flow.
This liquidity buffer is a critical differentiator, allowing the firm to pursue market share without the immediate pressure of external financing. However, the high cash-to-revenue ratio warrants further investigation into whether this capital is fully deployable or if significant portions are restricted by project-specific milestones or regulatory requirements.
The most commonly misapplied metric for WeRide is the price-to-sales ratio, which obscures the company's underlying hardware-heavy cost structure and fails to account for the significant capital intensity required to maintain its diverse autonomous vehicle fleet across five distinct form factors.
Applying standard software valuation multiples to WeRide may lead to an overestimation of its margin expansion potential. Analysts should instead focus on unit economics, such as the cost per kilometer of autonomous operation, to better gauge the true viability of the business model compared to traditional software peers.
Includes 30+ ratios · 5 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying WRD stock.
WeRide Inc.'s current P/E ratio is -7.1x. This places it at the 50th percentile of its historical range.
WeRide Inc.'s return on equity (ROE) is -21.5%. The historical average is -73.5%.
Based on historical data, WeRide Inc. is trading at a P/E of -7.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
WeRide Inc. has 30.2% gross margin and -270.5% operating margin.