Latest Ratios: P/E Ratio -17.3x · EV/EBITDA 14.9x · ROE -6.6%. (1995–2025 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 | $237M | $258M | $245M | $211M | $188M | $153M | $113M | $127M | $71M | $154M | $56M |
| Enterprise Value | $292M | $313M | $241M | $191M | $214M | $181M | $118M | $132M | $168M | $202M | $73M |
| P/E Ratio → | -17.25 | — | — | — | — | 48.94 | — | — | — | — | — |
| P/S Ratio | 1.69 | 1.84 | 2.05 | 1.77 | 1.96 | 2.01 | 1.72 | 1.73 | 0.80 | 2.82 | 1.56 |
| P/B Ratio | 1.15 | 1.31 | 1.24 | 1.10 | 1.30 | 0.97 | 0.78 | 0.92 | 0.69 | 2.41 | 3.05 |
| P/FCF | 11.06 | 12.06 | — | 79.92 | 38.83 | — | — | — | — | — | — |
| P/OCF | 10.67 | 11.63 | 26.12 | 11.15 | 13.74 | 110.85 | 50.54 | — | — | — | — |
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 | — | 2.23 | 2.02 | 1.60 | 2.23 | 2.38 | 1.80 | 1.81 | 1.89 | 3.71 | 2.05 |
| EV / EBITDA | 14.90 | 15.99 | — | 10.83 | 23.52 | 36.07 | 92.08 | — | 33.50 | 39.91 | 15.05 |
| EV / EBIT | — | — | — | — | — | 29.94 | — | — | — | — | 59.38 |
| EV / FCF | — | 14.61 | — | 72.38 | 44.25 | — | — | — | — | — | — |
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 | 67.5% | 67.5% | 68.5% | 71.8% | 65.2% | 61.2% | 58.2% | 59.2% | 65.3% | 76.8% | 77.2% |
| Operating Margin | -6.0% | -6.0% | -9.0% | -2.5% | -11.8% | -16.8% | -22.7% | -68.9% | -7.0% | -1.8% | 3.5% |
| Net Profit Margin | -9.3% | -9.3% | -9.8% | -7.7% | -15.1% | 4.2% | -24.9% | 41.0% | -8.5% | -10.5% | -2.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -6.6% | -6.6% | -6.1% | -5.5% | -9.5% | 2.1% | -11.5% | 25.0% | -9.1% | -14.0% | -8.9% |
| ROA | -2.7% | -2.7% | -2.7% | -2.1% | -3.4% | 0.7% | -3.9% | 8.8% | -2.7% | -4.0% | -1.6% |
| ROIC | -2.8% | -2.8% | -4.4% | -1.3% | -4.7% | -5.7% | -7.6% | -22.1% | -3.0% | -1.0% | 3.6% |
| ROCE | -3.4% | -3.4% | -5.2% | -1.5% | -5.9% | -7.0% | -8.9% | -26.4% | -3.6% | -1.1% | 3.9% |
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 | 0.40 | 0.40 | 0.09 | 0.05 | 0.30 | 0.26 | 0.23 | 0.25 | 1.09 | 1.19 | 1.65 |
| Debt / EBITDA | 4.08 | 4.08 | — | 0.59 | 4.75 | 8.25 | 26.20 | — | 22.37 | 15.00 | 6.21 |
| Net Debt / Equity | — | 0.28 | -0.02 | -0.10 | 0.18 | 0.18 | 0.03 | 0.04 | 0.94 | 0.75 | 0.95 |
| Net Debt / EBITDA | 2.80 | 2.80 | — | -1.13 | 2.88 | 5.57 | 3.90 | — | 19.28 | 9.50 | 3.57 |
| Debt / FCF | — | 2.56 | — | -7.54 | 5.42 | — | — | — | — | — | — |
| Interest Coverage | -1.47 | -1.47 | -9.59 | -1.12 | -2.23 | 2.96 | -12.05 | -0.96 | -1.25 | -0.22 | 0.61 |
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 | 1.07 | 1.07 | 1.06 | 1.11 | 1.03 | 1.07 | 1.02 | 1.12 | 1.08 | 1.24 | 1.10 |
| Quick Ratio | 1.06 | 1.06 | 1.06 | 1.11 | 1.03 | 1.07 | 1.02 | 1.11 | 1.06 | 1.24 | 1.09 |
| Cash Ratio | 0.10 | 0.10 | 0.10 | 0.13 | 0.07 | 0.06 | 0.08 | 0.19 | 0.10 | 0.40 | 0.31 |
| Asset Turnover | — | 0.26 | 0.27 | 0.27 | 0.23 | 0.18 | 0.13 | 0.23 | 0.25 | 0.27 | 0.41 |
| Inventory Turnover | 16.16 | 16.16 | 193.26 | 216.42 | 132.74 | 119.92 | 61.06 | 45.48 | 9.89 | 24.79 | 16.67 |
| Days Sales Outstanding | — | 41.19 | 55.31 | 43.53 | 46.18 | 25.47 | 21.44 | 52.95 | 20.94 | 89.58 | 83.27 |
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 | — | — | — | — | — | 2.0% | — | — | — | — | — |
| FCF Yield | 9.0% | 8.3% | — | 1.3% | 2.6% | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $27M | $26M | $22M | $20M | $20M | $16M | $16M | $14M | $11M | $7M |
Operating scale and profitability
Based on current market data, Asure trades at a forward P/E of 9.29, which appears to discount significant future earnings expansion compared to the higher multiples commanded by larger HCM peers like Paylocity, suggesting the market remains skeptical of the company's ability to sustain long-term GAAP profitability.
The valuation gap between Asure and its peers implies that investors are pricing the company as a turnaround play rather than a mature software provider. While the forward P/E suggests an attractive entry point, this multiple is highly sensitive to the company's ability to convert its recent revenue growth into consistent bottom-line results.
As reported in recent financial statements, Asure's ROIC has struggled to maintain positive territory, hovering at 0.7% in 2026Q1, which indicates that the company's aggressive acquisition-led growth strategy has yet to generate returns that exceed the cost of the capital deployed to fund these expansions.
The persistent low ROIC suggests that the company is effectively 'buying' growth through acquisitions rather than generating organic compounding returns. Investors should monitor whether the recent shift toward platform-based integrations can improve capital efficiency by reducing the reliance on high-cost, manual service-heavy business models.
According to quarterly filings, Asure's cash conversion cycle has fluctuated significantly, reaching 36 days in 2026Q1, a trend that highlights the inherent difficulty in managing a service-heavy payroll model where DSO remains elevated compared to pure-play SaaS competitors that benefit from upfront annual subscription payments.
The variability in the cash conversion cycle suggests that Asure's working capital is highly sensitive to the timing of payroll disbursements and client fund management. A sustained reduction in DSO would be a positive indicator that the company is successfully tightening its credit terms and improving its underlying cash collection efficiency.
Based on the latest balance sheet data, Asure's interest coverage ratio of 1.33 in 2026Q1 underscores a precarious debt service position, as the company's ability to meet its obligations remains tightly coupled with the volatile interest income earned on client funds held for payroll processing.
While the debt-to-equity ratio of 0.38 appears manageable in isolation, the low interest coverage ratio suggests that any contraction in float income or a rise in interest expenses could quickly strain the company's liquidity. This warrants close monitoring of the company's ability to refinance its debt obligations in a potentially less favorable interest rate environment.
As indicated by industry analysis, the most commonly misapplied metric for Asure is the standard SaaS P/S multiple, which obscures the company's heavy reliance on low-margin service bureau activities and interest-rate-sensitive float income that do not share the same scalability as pure-play cloud software platforms.
Investors should instead focus on 'Adjusted EBITDA' or 'Cash Flow from Operations' to better capture the underlying economic reality of the business. Relying solely on revenue multiples risks overestimating the company's long-term margin potential by failing to account for the high operational costs inherent in its current service-heavy delivery model.
Includes 30+ ratios · 30 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 ASUR stock.
Asure Software, Inc.'s current P/E ratio is -17.3x. The historical average is 28.3x.
Asure Software, Inc.'s current EV/EBITDA is 14.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.4x.
Asure Software, Inc.'s return on equity (ROE) is -6.6%. The historical average is -23.4%.
Based on historical data, Asure Software, Inc. is trading at a P/E of -17.3x. Compare with industry peers and growth rates for a complete picture.
Asure Software, Inc. has 67.5% gross margin and -6.0% operating margin.
Asure Software, Inc.'s Debt/EBITDA ratio is 4.1x, indicating high leverage. A ratio above 4x may signal elevated financial risk.