Latest Ratios: P/E Ratio -7.5x · EV/EBITDA N/A · ROE -79.7%. (2009–2025 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 | $53M | $56M | $114M | $121M | $152M | $281M | $175M | $17M | $19M | $34M | $45M |
| Enterprise Value | $53M | $57M | $115M | $121M | $143M | $262M | $172M | $16M | $18M | $33M | $44M |
| P/E Ratio → | -7.51 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 449.03 | 335.81 | 131.01 | 4044.95 | 2088.22 | 826.93 | 74210.89 | — | — | — | — |
| P/B Ratio | 7.49 | 5.69 | 7.75 | 8.10 | 5.01 | 8.46 | 6.36 | 0.65 | 0.76 | 1.52 | 1.97 |
| 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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 339.49 | 131.65 | 4062.80 | 1968.19 | 770.72 | 73069.82 | — | — | — | — |
| 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -3785.5% | -3785.5% | 22.1% | -1010.4% | -1071.3% | -10.9% | -8223.9% | — | — | — | — |
| Operating Margin | -6521.7% | -6521.7% | -1100.4% | -40174.8% | -20112.5% | -3698.5% | -183172.8% | — | — | — | — |
| Net Profit Margin | -5882.6% | -5882.6% | -1150.7% | -39254.1% | -19784.9% | -9330.9% | -164273.9% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -79.7% | -79.7% | -67.7% | -51.7% | -45.3% | -104.5% | -14.6% | -4.3% | -10.3% | -7.0% | -12.9% |
| ROA | -58.4% | -58.4% | -57.3% | -46.9% | -41.6% | -95.7% | -13.7% | -4.2% | -10.2% | -7.0% | -12.8% |
| ROIC | -63.3% | -63.3% | -46.9% | -48.5% | -61.5% | -48.5% | -13.0% | -3.6% | -8.1% | -5.6% | -9.8% |
| ROCE | -82.0% | -82.0% | -63.5% | -51.9% | -45.1% | -40.6% | -16.1% | -4.7% | -10.5% | -7.3% | -12.9% |
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 | 0.20 | 0.20 | 0.05 | 0.06 | 0.05 | 0.06 | 0.01 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.06 | 0.04 | 0.04 | -0.29 | -0.58 | -0.10 | -0.03 | -0.05 | -0.00 | -0.02 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -37.44 | -37.44 | -108.94 | -108.93 | -118.50 | -495.95 | -400.80 | — | — | — | — |
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 | 0.64 | 0.64 | 1.25 | 3.44 | 7.42 | 13.87 | 1.35 | 2.04 | 2.27 | 1.13 | 13.28 |
| Quick Ratio | 0.53 | 0.53 | 1.00 | 2.65 | 6.19 | 13.58 | 1.35 | 2.04 | 2.27 | 1.13 | 13.28 |
| Cash Ratio | 0.37 | 0.37 | 0.03 | 1.94 | 4.28 | 11.57 | 1.23 | 1.53 | 1.89 | 0.64 | 11.97 |
| Asset Turnover | — | 0.01 | 0.05 | 0.00 | 0.00 | 0.01 | 0.00 | — | — | — | — |
| Inventory Turnover | 15.45 | 15.45 | 0.77 | 0.32 | 0.29 | 0.71 | — | — | — | — | — |
| Days Sales Outstanding | — | 816.07 | 503.16 | 7589.09 | 32.35 | 3097.00 | 18497.83 | — | — | — | — |
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 | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $106M | $103M | $101M | $99M | $92M | $84M | $77M | $67M | $63M | $62M |
Acute liquidity and dilution
According to recent market data, Zentek trades at a price-to-sales multiple of 448.85, a figure that appears to reflect speculative optimism regarding its intellectual property portfolio rather than any tangible earnings power, especially when compared to the more grounded valuations of its industrial materials science peers.
The extreme P/S ratio suggests that investors are pricing the company as a high-growth technology platform rather than a basic materials producer. This valuation implies an expectation of rapid, non-linear revenue scaling that remains unproven by the company's current early-stage commercialization trajectory.
As reported in financial statements, Zentek's operating margin of -1100.37% highlights a profound disconnect between its current revenue generation and the high fixed-cost base required to maintain its specialized laboratory and patent infrastructure, suggesting that profitability remains a distant prospect without a significant shift in scale.
The volatility in gross margins, which swung from 67.1% to -79.7% in recent periods, indicates that the company lacks the pricing power or cost control necessary to stabilize its core business. This instability suggests that the current cost structure is highly sensitive to pilot-scale production inefficiencies.
Based on reported figures, Zentek's return on invested capital has remained consistently negative, with the most recent quarter showing a -25.3% return, indicating that the company is currently destroying shareholder value as it attempts to transition from R&D to commercial-scale production of its graphene-based solutions.
The persistent negative ROIC trend suggests that the capital deployed into the Albany Graphite project and ZenGUARD development has yet to generate a return exceeding the cost of capital. Investors should monitor whether future industrial partnerships can improve capital efficiency or if the current model will continue to require dilutive funding.
According to recent SEC filings, Zentek's cash position has dwindled to approximately $121,481, while the current ratio has compressed to 0.64, signaling that the company's ability to meet short-term obligations is increasingly compromised by its ongoing operational cash burn and lack of a self-sustaining revenue engine.
The rapid decline in liquidity suggests that the company is approaching a critical juncture where external financing will be required to maintain operations. This vulnerability warrants close investigation into the terms of any potential capital raise, as the current cash position provides little room for operational error.
Data from recent filings suggests that the price-to-earnings ratio is a fundamentally misapplied metric for Zentek, as the company's negative earnings and pre-revenue status render traditional P/E analysis meaningless and obscure the binary-outcome risk profile inherent in its transition to a commercial-stage materials science firm.
Instead of P/E, analysts should focus on the cash runway and the number of integration agreements with HVAC manufacturers as more reliable indicators of survival and future potential. Relying on earnings-based multiples in this context may lead to a fundamental misunderstanding of the company's risk-reward profile.
Includes 30+ ratios · 17 years · Updated daily
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Quick answers to the most common questions about buying ZTEK stock.
Zentek Ltd.'s current P/E ratio is -7.5x. This places it at the 50th percentile of its historical range.
Zentek Ltd.'s return on equity (ROE) is -79.7%. The historical average is -29.5%.
Based on historical data, Zentek Ltd. is trading at a P/E of -7.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Zentek Ltd. has -3785.5% gross margin and -6521.7% operating margin.