Latest Ratios: P/E Ratio -18.1x · EV/EBITDA 58.7x · ROE -8.4%. (2014–2025 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 | $40M | $55M | $51M | $30M | $41M | $216M | $15M | $16M | $29M | $20M | $39M |
| Enterprise Value | $22M | $37M | $31M | $14M | $24M | $191M | $11M | $15M | $26M | $15M | $33M |
| P/E Ratio → | -18.06 | — | — | — | 4.25 | 26.03 | — | — | — | — | 37.82 |
| P/S Ratio | 1.36 | 1.88 | 1.70 | 1.09 | 1.55 | 11.02 | 1.63 | 1.84 | 2.69 | 1.95 | 3.47 |
| P/B Ratio | 1.63 | 2.13 | 1.65 | 0.76 | 0.93 | 6.50 | 1.74 | 2.33 | 2.91 | 1.84 | 3.64 |
| P/FCF | 12.02 | 16.54 | 10.96 | 17.39 | 3.77 | 22.75 | 11.35 | — | — | — | 46.17 |
| P/OCF | 11.72 | 16.14 | 8.72 | 9.36 | 3.57 | 21.29 | 7.29 | 213.60 | 87.70 | — | 20.96 |
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 | — | 1.25 | 1.04 | 0.51 | 0.91 | 9.76 | 1.15 | 1.67 | 2.37 | 1.50 | 2.94 |
| EV / EBITDA | 58.67 | 99.48 | 11.97 | 4.39 | 2.25 | 21.07 | 9.33 | — | — | — | 15.84 |
| EV / EBIT | — | — | — | — | 2.08 | 23.73 | — | — | — | — | 28.97 |
| EV / FCF | — | 11.02 | 6.70 | 8.11 | 2.22 | 20.15 | 7.97 | — | — | — | 39.02 |
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 | 89.8% | 89.8% | 85.7% | 79.8% | 86.4% | 87.5% | 70.8% | 68.2% | 76.5% | 78.0% | 82.9% |
| Operating Margin | -2.6% | -2.6% | 0.5% | -0.5% | 32.9% | 39.9% | -4.3% | -32.7% | -12.7% | -6.5% | 13.1% |
| Net Profit Margin | -8.1% | -8.1% | -30.5% | -22.4% | 36.6% | 42.1% | -5.9% | -37.9% | -14.4% | -6.1% | 8.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -8.4% | -8.4% | -26.3% | -14.7% | 25.1% | 39.2% | -7.1% | -39.4% | -15.2% | -5.8% | 11.5% |
| ROA | -6.5% | -6.5% | -21.6% | -12.0% | 21.1% | 33.3% | -5.3% | -32.3% | -12.9% | -4.9% | 9.5% |
| ROIC | -6.3% | -6.3% | 0.7% | -0.4% | 36.6% | 91.7% | -6.2% | -35.8% | -16.3% | -9.1% | 24.5% |
| ROCE | -2.6% | -2.6% | 0.4% | -0.3% | 22.0% | 36.7% | -5.0% | -34.1% | -13.4% | -6.1% | 17.0% |
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 | 0.01 | 0.01 | 0.01 | 0.06 | 0.00 | 0.01 | 0.06 | 0.02 | — | — | — |
| Debt / EBITDA | 0.53 | 0.53 | 0.08 | 0.74 | 0.02 | 0.03 | 0.44 | — | — | — | — |
| Net Debt / Equity | — | -0.71 | -0.64 | -0.41 | -0.38 | -0.74 | -0.52 | -0.21 | -0.34 | -0.43 | -0.56 |
| Net Debt / EBITDA | -49.76 | -49.76 | -7.59 | -5.03 | -1.58 | -2.72 | -3.95 | — | — | — | -2.90 |
| Debt / FCF | — | -5.51 | -4.25 | -9.28 | -1.55 | -2.60 | -3.37 | — | — | — | -7.15 |
| Interest Coverage | — | — | — | — | — | — | — | -16.72 | — | — | — |
Net cash position: cash ($19M) exceeds total debt ($197000)
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 | 2.89 | 2.89 | 3.84 | 3.75 | 2.30 | 6.61 | 2.38 | 1.58 | 3.37 | 3.68 | 4.33 |
| Quick Ratio | 2.89 | 2.89 | 3.84 | 3.75 | 2.30 | 6.61 | 2.38 | 1.58 | 3.37 | 3.68 | 4.33 |
| Cash Ratio | 2.40 | 2.40 | 3.20 | 3.15 | 1.97 | 5.96 | 1.80 | 0.79 | 1.98 | 2.40 | 3.25 |
| Asset Turnover | — | 0.82 | 0.79 | 0.58 | 0.49 | 0.52 | 0.79 | 0.98 | 0.92 | 0.80 | 0.89 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 39.28 | 41.31 | 38.63 | 38.60 | 47.47 | 54.23 | 48.36 | 66.88 | 62.29 | 54.78 |
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 | — | — | — | — | 23.6% | 3.8% | — | — | — | — | 2.6% |
| FCF Yield | 8.3% | 6.0% | 9.1% | 5.7% | 26.5% | 4.4% | 8.8% | — | — | — | 2.2% |
| Buyback Yield | 11.0% | 8.0% | 1.3% | 5.4% | 0.6% | 0.0% | 0.2% | 0.3% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 11.0% | 8.0% | 1.3% | 5.4% | 0.6% | 0.0% | 0.2% | 0.3% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $14M | $14M | $14M | $15M | $14M | $11M | $10M | $10M | $9M | $9M |
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According to recent market data, Zedge trades at a P/S ratio of 1.36 and an EV/EBITDA of 58.67, suggesting that investors are heavily discounting the firm's growth potential while simultaneously pricing in significant execution risk regarding its transition into a social-gaming platform.
The elevated EV/EBITDA multiple appears to be a function of depressed earnings rather than premium growth expectations, indicating that the market views the current profitability profile as transitory. Investors should monitor whether the valuation gap narrows as the subscription-based revenue stream matures and reduces reliance on volatile ad-tech cycles.
Based on reported financial statements, Zedge's ROIC has fluctuated significantly, ranging from a low of -7.5% in 2025Q2 to a peak of 16.0% in 2026Q3, highlighting the difficulty in consistently compounding capital while integrating acquisitions like GuruShots into the core business model.
The wide variance in returns suggests that the company's capital allocation is currently sensitive to the timing of marketing spend and acquisition-related integration costs. Sustained improvement in ROIC will likely require the company to demonstrate that its recent investments in gamified content can generate returns exceeding the cost of capital on a normalized basis.
As indicated by quarterly filings, Zedge's asset turnover remains low at approximately 0.23, which reflects the company's reliance on intangible assets and a business model that does not require significant physical infrastructure to support its global user base.
The relatively stable DSO of around 40 days suggests that the company maintains reasonable control over its receivables, even as it pivots toward more complex monetization models. However, the lack of clear inventory turnover data warrants further investigation into how the company manages its digital content library and virtual goods inventory.
Based on the provided data, the P/E ratio is a fundamentally flawed metric for Zedge, as it currently sits at -18.06, failing to capture the company's underlying cash-generative capacity which is better represented by its consistent FCF margins that have reached as high as 27.6%.
The P/E ratio is heavily distorted by non-cash charges, including stock-based compensation and acquisition-related amortization, which do not reflect the firm's actual ability to generate liquidity. Analysts should prioritize FCF-based valuation models to better assess the company's intrinsic value and its ability to fund future growth without external financing.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying ZDGE stock.
Zedge, Inc.'s current P/E ratio is -18.1x. The historical average is 22.7x.
Zedge, Inc.'s current EV/EBITDA is 58.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 23.5x.
Zedge, Inc.'s return on equity (ROE) is -8.4%. The historical average is -1.4%.
Based on historical data, Zedge, Inc. is trading at a P/E of -18.1x. Compare with industry peers and growth rates for a complete picture.
Zedge, Inc. has 89.8% gross margin and -2.6% operating margin.
Zedge, Inc.'s Debt/EBITDA ratio is 0.5x, indicating low leverage. A ratio below 2x is generally considered financially healthy.