Latest Ratios: P/E Ratio -2.7x · EV/EBITDA N/A · ROE -63.0%. (2019–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.3B | $1.2B | $2.8B | $2.7B | $2.0B | $1.8B | $3.8B | — | — |
| Enterprise Value | $1.2B | $1.2B | $2.7B | $2.5B | $1.7B | $1.4B | $3.6B | — | — |
| P/E Ratio → | -2.67 | — | — | — | — | — | — | — | — |
| P/S Ratio | 5.06 | 4.96 | 7.30 | 8.66 | 7.34 | 7.02 | 20.50 | — | — |
| P/B Ratio | 1.92 | 1.90 | 3.39 | 3.08 | 2.11 | 1.79 | 3.54 | — | — |
| 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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.69 | 6.89 | 8.13 | 6.28 | 5.69 | 19.89 | — | — |
| 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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.9% | 30.9% | 60.6% | 57.5% | 67.6% | 74.8% | 75.7% | 75.2% | 66.8% |
| Operating Margin | -194.9% | -194.9% | -83.4% | -102.5% | -108.9% | -77.6% | -32.9% | -45.6% | -39.3% |
| Net Profit Margin | -187.9% | -187.9% | -74.2% | -90.1% | -100.8% | -76.0% | -30.4% | -44.3% | -36.4% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -63.0% | -63.0% | -33.7% | -31.0% | -28.0% | -18.7% | -12.7% | — | — |
| ROA | -51.1% | -51.1% | -28.0% | -26.1% | -23.6% | -16.2% | -7.4% | -24.2% | -12.5% |
| ROIC | -57.8% | -57.8% | -35.1% | -35.2% | -33.5% | -18.3% | -12.3% | — | — |
| ROCE | -60.8% | -60.8% | -35.5% | -33.5% | -29.2% | -18.7% | -9.3% | -36.7% | -21.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.10 | -0.19 | -0.19 | -0.30 | -0.34 | -0.11 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($66M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.64 | 6.64 | 6.86 | 8.84 | 6.53 | 7.06 | 9.42 | 3.47 | 2.19 |
| Quick Ratio | 6.64 | 6.64 | 6.86 | 8.84 | 6.53 | 7.17 | 9.42 | 3.48 | 2.20 |
| Cash Ratio | 5.40 | 5.40 | 5.63 | 7.33 | 5.37 | 6.39 | 8.78 | 3.02 | 1.53 |
| Asset Turnover | — | 0.31 | 0.38 | 0.30 | 0.24 | 0.22 | 0.15 | 0.51 | 0.34 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 146.64 | 128.74 | 152.85 | 184.13 | 115.92 | 130.41 | 71.82 | 252.96 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.5% | 0.4% | 0.8% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.5% | 0.4% | 0.8% | 0.0% | — | — |
| Shares Outstanding | — | $141M | $129M | $119M | $110M | $104M | $57M | $95M | $74M |
Liquidity and Revenue Contraction
Based on reported figures, the company trades at a 5.04x price-to-sales multiple, a valuation that appears increasingly difficult to justify given the -35.67% year-over-year revenue decline and the lack of a clear path to positive earnings in the near-term horizon for investors.
The current P/S multiple suggests the market continues to price the firm as a high-growth software entity despite the recent pivot to a consumption-based model that has severely pressured top-line performance. Investors should monitor whether this valuation premium persists if revenue growth fails to re-accelerate, as the current multiple implies growth expectations that are currently unsupported by the underlying financial trajectory.
As reported in financial statements, the company's ROIC has trended downward to -13.6% in 2026Q4, reflecting a persistent inability to generate positive returns on invested capital while the firm continues to burn through its remaining cash reserves to fund ongoing operations.
The consistent negative ROIC indicates that every dollar of capital deployed is currently destroying shareholder value rather than compounding it. This trend suggests that the company's core architecture, while technically sophisticated, has yet to achieve the operational scale necessary to overcome the high fixed costs associated with its current go-to-market strategy.
According to recent SEC filings, the company's asset turnover ratio remains stagnant at 0.06, highlighting a structural inefficiency in converting its asset base into revenue compared to historical levels and broader industry standards for enterprise software providers.
The persistently low asset turnover, combined with a DSO that has fluctuated significantly, suggests that the company faces challenges in managing its receivables and optimizing its cash conversion cycle. This inefficiency warrants further investigation, as it may indicate that the firm is forced to offer extended payment terms to secure enterprise contracts in a competitive market.
Based on the most recent quarterly data, the company's cash and equivalents have dwindled to $66.2 million, a level that appears increasingly precarious when measured against the ongoing operating losses and the lack of consistent positive free cash flow generation.
While the current ratio of 6.64 suggests a superficial level of liquidity, the underlying cash burn rate indicates that the company may face a liquidity crunch within the next 12 to 18 months. Investors should monitor the firm's ability to secure additional financing, as the current balance sheet may not provide sufficient cushion to support the business through a prolonged period of revenue transition.
The most commonly misapplied ratio for this business model is the price-to-sales multiple, which obscures the reality that the company's 30.92% gross margin profile is more characteristic of a high-touch IT services consultancy than a scalable, high-margin software-as-a-service platform.
By relying on SaaS-style valuation multiples, investors may be overestimating the company's potential for operating leverage and exponential growth. A more appropriate analytical framework would involve adjusting for the high variable costs of implementation services, which effectively caps the firm's margin expansion potential and necessitates a more conservative valuation approach.
Includes 30+ ratios · 8 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 AI stock.
C3.ai, Inc.'s current P/E ratio is -2.7x. This places it at the 50th percentile of its historical range.
C3.ai, Inc.'s return on equity (ROE) is -63.0%. The historical average is -31.2%.
Based on historical data, C3.ai, Inc. is trading at a P/E of -2.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
C3.ai, Inc. has 30.9% gross margin and -194.9% operating margin.