Latest Ratios: P/E Ratio -37.4x · EV/EBITDA N/A · ROE -50.8%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $1.9B | $983M | $285M | $456M | $671M | — | — |
| Enterprise Value | $1.8B | $933M | $268M | $446M | $604M | — | — |
| P/E Ratio → | -37.40 | — | — | — | — | — | — |
| P/S Ratio | 25.39 | 13.47 | 11.80 | 51.87 | 152.18 | — | — |
| P/B Ratio | 15.72 | 9.47 | 4.11 | 7.63 | 9.19 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 12.78 | 11.08 | 50.71 | 137.06 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 11.3% | 11.3% | -75.8% | -169.9% | -123.4% | -156.2% | -43.1% |
| Operating Margin | -63.9% | -63.9% | -183.7% | -440.3% | -409.2% | -383.2% | -159.2% |
| Net Profit Margin | -60.3% | -60.3% | -184.8% | -418.3% | -393.1% | -357.0% | -158.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -50.8% | -50.8% | -69.1% | -55.4% | -39.9% | -131.7% | -634.6% |
| ROA | -31.7% | -31.7% | -39.0% | -38.5% | -34.1% | -78.6% | -111.4% |
| ROIC | -66.4% | -66.4% | -65.5% | -103.7% | -310.1% | -372.4% | — |
| ROCE | -38.4% | -38.4% | -44.8% | -45.4% | -39.8% | -124.4% | -274.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.38 | 0.38 | 0.54 | 0.59 | 0.04 | — | 0.64 |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.49 | -0.25 | -0.17 | -0.91 | -0.83 | 0.63 |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | -1482.60 |
Net cash position: cash ($90M) exceeds total debt ($40M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 7.08 | 7.08 | 4.00 | 3.75 | 10.87 | 3.40 | 0.30 |
| Quick Ratio | 6.70 | 6.70 | 3.61 | 3.70 | 10.80 | 3.28 | 0.17 |
| Cash Ratio | 5.06 | 5.06 | 3.20 | 3.40 | 10.08 | 2.76 | 0.00 |
| Asset Turnover | — | 0.47 | 0.20 | 0.08 | 0.05 | 0.15 | 0.70 |
| Inventory Turnover | 9.61 | 9.61 | 6.46 | 32.51 | 19.70 | 14.20 | 12.95 |
| Days Sales Outstanding | — | 118.67 | 84.28 | 52.52 | 56.79 | 34.50 | 27.15 |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $125M | $102M | $86M | $85M | $101M | $101M |
Manufacturing yield and scale
Based on current market data, Amprius trades at a price-to-sales multiple of 25.04, which suggests that investors are pricing in significant future revenue expansion rather than current earnings, as the company continues to report negative net income and lacks a meaningful forward price-to-earnings ratio.
The elevated P/S ratio indicates that the market is valuing the company as a high-growth technology disruptor rather than a traditional industrial manufacturer. This valuation appears to hinge on the successful scaling of their proprietary silicon nanowire technology, implying that any deceleration in revenue growth could lead to a significant compression of these multiples.
As reported in recent financial statements, the company's ROIC remains deeply negative at -9.4% in 2026Q1, reflecting the substantial capital investment required to build out manufacturing capacity before achieving the economies of scale necessary to generate positive returns on invested capital for shareholders.
The persistent negative ROIC trend highlights the difficulty of transitioning from lab-scale R&D to commercial production. Investors should monitor whether the recent improvement from -20.9% in 2023Q4 indicates a structural path toward positive returns or merely a temporary fluctuation driven by the timing of large project-based revenue recognition.
According to the latest quarterly data, the cash conversion cycle has expanded to 92 days in 2026Q1, up from 3 days in 2023Q4, which suggests that the company is facing increasing friction in managing inventory and receivables as it scales its specialized manufacturing operations.
The lengthening CCC indicates that capital is being tied up for longer periods, likely due to the complex nature of silicon nanowire production and the long lead times associated with aerospace contracts. This trend warrants investigation, as it may indicate that the company is struggling to optimize its supply chain and inventory turnover as it grows.
Based on the most recent balance sheet, the company maintains a current ratio of 7.13, providing a substantial liquidity cushion that appears sufficient to fund ongoing operations and capital expenditures in the near term, despite the significant cash burn associated with scaling production facilities.
The high current ratio suggests a strong short-term position, which is critical given the company's reliance on external funding and the inherent volatility of its cash flow. However, this liquidity should not be mistaken for operational self-sufficiency, as the company remains dependent on its ability to convert its high-performance technology into sustainable, cash-generative product sales.
The most commonly misapplied metric for Amprius is the price-to-sales ratio, which obscures the underlying quality of earnings and the high capital intensity required to maintain the company's proprietary silicon nanowire manufacturing process compared to traditional battery manufacturers.
Using P/S as a primary valuation tool ignores the significant differences in gross margin profiles and the high fixed-cost burden inherent in CVD-based manufacturing. Analysts should instead focus on unit-level economics and manufacturing yield rates, as these metrics provide a more accurate assessment of the company's long-term viability and potential for achieving operating leverage.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying AMPX stock.
Amprius Technologies, Inc.'s current P/E ratio is -37.4x. This places it at the 50th percentile of its historical range.
Amprius Technologies, Inc.'s return on equity (ROE) is -50.8%. The historical average is -69.4%.
Based on historical data, Amprius Technologies, Inc. is trading at a P/E of -37.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Amprius Technologies, Inc. has 11.3% gross margin and -63.9% operating margin.