Latest Ratios: P/E Ratio -10.5x · EV/EBITDA 27.6x · ROE -11.3%. (2008–2025 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 | $1.0B | $755M | $1.1B | $969M | $940M | $829M | $270M | $231M | $354M | $414M | $313M |
| Enterprise Value | $938M | $652M | $947M | $852M | $723M | $828M | $318M | $255M | $314M | $300M | $226M |
| P/E Ratio → | -10.54 | — | — | 78.10 | 2.07 | 14.27 | — | — | 24.98 | 29.77 | — |
| P/S Ratio | 1.49 | 1.08 | 1.61 | 1.40 | 1.21 | 1.26 | 0.58 | 0.51 | 0.84 | 1.08 | 0.93 |
| P/B Ratio | 1.24 | 0.92 | 1.18 | 1.10 | 1.10 | 1.61 | 0.63 | 0.52 | 0.83 | 1.39 | 1.29 |
| P/FCF | — | — | — | — | 11.63 | 14.79 | — | — | — | — | 17.11 |
| P/OCF | 35.08 | 25.43 | 41.04 | 47.31 | 4.30 | 6.44 | 4.34 | 7.34 | 101.66 | 9.70 | 7.78 |
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 | — | 0.94 | 1.44 | 1.23 | 0.93 | 1.26 | 0.68 | 0.57 | 0.75 | 0.78 | 0.67 |
| EV / EBITDA | 27.63 | 19.21 | 18.94 | 12.96 | 4.99 | 7.09 | 10.21 | 10.19 | 8.30 | 7.43 | 7.84 |
| EV / EBIT | — | — | 707.44 | 34.68 | 7.09 | 12.44 | — | — | 37.31 | 22.81 | 223.12 |
| EV / FCF | — | — | — | — | 8.95 | 14.77 | — | — | — | — | 12.35 |
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 | 23.1% | 23.1% | 26.2% | 28.9% | 34.5% | 31.1% | 22.1% | 25.6% | 26.6% | 24.0% | 19.6% |
| Operating Margin | -4.1% | -4.1% | -0.6% | 3.3% | 13.1% | 9.8% | -3.0% | -1.6% | 2.0% | 3.4% | 0.4% |
| Net Profit Margin | -13.9% | -13.9% | -1.7% | 1.8% | 58.3% | 8.8% | -1.4% | -3.2% | 3.4% | 3.6% | -0.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -11.3% | -11.3% | -1.2% | 1.4% | 66.1% | 12.3% | -1.5% | -3.4% | 3.9% | 5.1% | -1.1% |
| ROA | -8.9% | -8.9% | -0.9% | 1.0% | 40.9% | 6.8% | -0.9% | -2.1% | 2.7% | 3.9% | -0.9% |
| ROIC | -2.8% | -2.8% | -0.4% | 2.4% | 13.3% | 9.7% | -2.2% | -1.2% | 2.2% | 5.8% | 0.7% |
| ROCE | -3.0% | -3.0% | -0.4% | 2.2% | 11.9% | 10.0% | -2.4% | -1.3% | 2.1% | 4.8% | 0.6% |
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 | 0.06 | 0.06 | 0.08 | 0.09 | 0.11 | 0.39 | 0.48 | 0.33 | 0.22 | 0.01 | 0.00 |
| Debt / EBITDA | 1.50 | 1.50 | 1.34 | 1.20 | 0.67 | 1.73 | 6.63 | 5.84 | 2.43 | 0.04 | 0.03 |
| Net Debt / Equity | — | -0.12 | -0.12 | -0.13 | -0.25 | -0.00 | 0.11 | 0.05 | -0.09 | -0.38 | -0.36 |
| Net Debt / EBITDA | -3.01 | -3.01 | -2.16 | -1.77 | -1.50 | -0.01 | 1.54 | 0.97 | -1.05 | -2.83 | -3.02 |
| Debt / FCF | — | — | — | — | -2.68 | -0.02 | — | — | — | — | -4.76 |
| Interest Coverage | -9.53 | -9.53 | 0.34 | 22.61 | 26.03 | 10.55 | -5.53 | -1.10 | 3.05 | 144.44 | 44.00 |
Net cash position: cash ($153M) exceeds total debt ($51M)
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 | 2.56 | 2.56 | 2.58 | 2.46 | 2.05 | 1.75 | 1.66 | 1.66 | 1.84 | 2.38 | 2.70 |
| Quick Ratio | 1.34 | 1.34 | 1.31 | 1.39 | 1.46 | 1.08 | 0.95 | 1.03 | 1.26 | 1.57 | 1.71 |
| Cash Ratio | 0.99 | 0.99 | 1.14 | 1.13 | 1.17 | 0.87 | 0.83 | 0.68 | 0.85 | 1.22 | 1.26 |
| Asset Turnover | — | 0.67 | 0.57 | 0.58 | 0.60 | 0.72 | 0.59 | 0.61 | 0.63 | 0.96 | 1.05 |
| Inventory Turnover | 2.82 | 2.82 | 2.48 | 2.68 | 3.22 | 2.93 | 2.67 | 3.01 | 3.43 | 3.82 | 3.92 |
| Days Sales Outstanding | — | 19.40 | 8.85 | 12.65 | 31.54 | 22.00 | 11.76 | 19.97 | 45.05 | 27.64 | 28.92 |
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 | — | — | — | 1.3% | 48.2% | 7.0% | — | — | 4.0% | 3.4% | — |
| FCF Yield | — | — | — | — | 8.6% | 6.8% | — | — | — | — | 5.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 1.4% | 0.0% | 0.0% | 0.0% | 0.7% | 4.3% | 0.0% | 13.5% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 1.4% | 0.0% | 0.0% | 0.0% | 0.7% | 4.3% | 0.0% | 13.5% |
| Shares Outstanding | — | $29M | $28M | $30M | $28M | $27M | $25M | $25M | $25M | $25M | $22M |
Cyclical manufacturing capacity underutilization
Based on recent financial data, AOSL trades at an EV/EBITDA of 35.76, which appears disconnected from its negative operating margins and suggests that the market is pricing in a recovery that has yet to materialize in the company's core consumer-facing semiconductor segments.
The negative P/E ratio of -13.33 renders traditional earnings-based valuation metrics non-applicable, forcing investors to rely on EV/Sales or P/B multiples. The forward EV/EBITDA of 8.08 implies a significant expectation of margin expansion, which may be overly optimistic given the persistent pricing pressure in the discrete power market.
As reported in quarterly filings, AOSL's ROIC has consistently trended in negative territory, reaching -1.6% in 2026Q3, which indicates that the company is currently failing to generate returns on invested capital that exceed its cost of capital during this cyclical downturn.
The decay in ROIC is primarily driven by the inability to maintain positive operating margins, which effectively negates the benefits of the company's low-debt capital structure. Without a structural improvement in fab utilization, the company appears to be destroying shareholder value rather than compounding it through its current manufacturing-heavy strategy.
According to recent financial statements, AOSL's cash conversion cycle has remained elevated at 142 days in 2026Q3, primarily driven by a bloated inventory position that reflects the company's struggle to align production output with volatile demand from its primary computing and consumer electronics customers.
The high days inventory outstanding (DIO) of 139 days suggests that the company is carrying significant excess stock, which ties up liquidity and increases the risk of future write-downs. This inefficiency in working capital management appears to be a structural drag on cash flow, particularly when compared to more agile, fab-light competitors.
Based on reported figures, AOSL maintains a current ratio of 3.32, which provides a sufficient liquidity cushion to navigate the current period of negative operating cash flow, though the downward trend in cash reserves warrants close monitoring by investors as the cycle persists.
While the quick ratio of 1.86 suggests that the company could meet its short-term obligations even if inventory liquidity were impaired, the reliance on cash reserves to fund operations is not sustainable in the long term. The company's liquidity position appears adequate for now, but it is clearly being eroded by the ongoing operational losses.
Investors frequently misapply the Price-to-Book ratio of 1.57 to AOSL, failing to recognize that the book value is heavily comprised of manufacturing assets that may be subject to significant impairment if the current underutilization of fabrication facilities becomes a permanent structural reality.
Relying on P/B ignores the fact that the company's primary value is tied to its ability to generate high-margin output from its fabs, not the liquidation value of its equipment. A more appropriate metric would be an adjusted EV/Sales multiple that accounts for the high fixed-cost burden and the cyclical nature of the company's revenue base.
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying AOSL stock.
Alpha and Omega Semiconductor Limited's current P/E ratio is -10.5x. The historical average is 23.0x.
Alpha and Omega Semiconductor Limited's current EV/EBITDA is 27.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.4x.
Alpha and Omega Semiconductor Limited's return on equity (ROE) is -11.3%. The historical average is 4.6%.
Based on historical data, Alpha and Omega Semiconductor Limited is trading at a P/E of -10.5x. Compare with industry peers and growth rates for a complete picture.
Alpha and Omega Semiconductor Limited has 23.1% gross margin and -4.1% operating margin.
Alpha and Omega Semiconductor Limited's Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.