Latest Ratios: P/E Ratio -1070.1x · EV/EBITDA 43.0x · ROE -0.3%. (1995–2026 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 | FY 2018 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $686M | $658M | $668M | $496M | $257M | $722M | — | — | — | — | — |
| Enterprise Value | $606M | $578M | $591M | $455M | $240M | $694M | — | — | — | — | — |
| P/E Ratio → | -1070.11 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.72 | 1.65 | 1.91 | 1.58 | 0.82 | 1.52 | — | — | — | — | — |
| P/B Ratio | 2.97 | 2.88 | 3.08 | 2.31 | 1.23 | 2.41 | — | — | — | — | — |
| P/FCF | 23.11 | 22.17 | 19.90 | 19.46 | — | — | — | — | — | — | — |
| P/OCF | 17.01 | 16.32 | 14.29 | 14.36 | — | 274.63 | — | — | — | — | — |
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 | FY 2018 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.44 | 1.69 | 1.45 | 0.77 | 1.46 | — | — | — | — | — |
| EV / EBITDA | 42.99 | 41.01 | 69.35 | — | — | 21.54 | — | — | — | — | — |
| EV / EBIT | 286.19 | 273.05 | — | — | — | 82.10 | — | — | — | — | — |
| EV / FCF | — | 19.47 | 17.60 | 17.85 | — | — | — | — | — | — | — |
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 | FY 2018 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.3% | 72.3% | 70.4% | 68.7% | 61.6% | 72.1% | 70.1% | 64.1% | 59.2% | 66.5% | 88.2% |
| Operating Margin | 0.5% | 0.5% | -1.5% | -5.8% | -33.1% | 2.3% | 4.1% | 6.0% | 4.3% | 2664.0% | -28.8% |
| Net Profit Margin | -0.2% | -0.2% | -3.4% | -5.0% | -36.6% | -3.1% | 3.2% | 4.4% | 2.0% | -1.6% | -29.1% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.3% | -0.3% | -5.6% | -7.3% | -44.9% | -5.2% | 3.9% | 4.3% | 3.2% | -0.0% | -0.1% |
| ROA | -0.1% | -0.1% | -2.5% | -3.4% | -20.6% | -2.3% | 2.0% | 2.5% | 2.0% | -1.2% | — |
| ROIC | 1.1% | 1.1% | -2.5% | -7.4% | -33.5% | 3.1% | 4.9% | 7.6% | 9.6% | 9.9% | -0.1% |
| ROCE | 0.7% | 0.7% | -1.8% | -6.8% | -34.8% | 3.2% | 4.3% | 5.1% | 6.2% | 2295.2% | — |
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 | FY 2018 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.16 | 0.16 | 0.16 | 0.16 | 0.08 | 0.42 | 0.26 | 0.09 | 0.03 | 0.00 | 0.00 |
| Debt / EBITDA | 2.59 | 2.59 | 4.17 | — | — | 3.86 | 1.72 | 0.90 | 0.33 | 0.00 | — |
| Net Debt / Equity | — | -0.35 | -0.36 | -0.19 | -0.08 | -0.09 | -0.03 | -0.35 | -0.48 | -0.32 | 0.00 |
| Net Debt / EBITDA | -5.70 | -5.70 | -9.05 | — | — | -0.87 | -0.21 | -3.61 | -5.72 | -0.01 | — |
| Debt / FCF | — | -2.71 | -2.30 | -1.61 | — | — | -0.17 | -3.51 | -5.52 | -14.27 | — |
| Interest Coverage | 10.91 | 10.91 | -42.70 | -827.69 | -59.74 | 43.15 | 134.64 | 63.24 | 40.96 | 51683.23 | -15629.86 |
Net cash position: cash ($117M) exceeds total debt ($37M)
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 | FY 2018 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.33 | 1.33 | 1.30 | 1.39 | 1.30 | 1.31 | 1.17 | 1.83 | 2.12 | 4.66 | — |
| Quick Ratio | 1.26 | 1.26 | 1.22 | 1.26 | 1.17 | 1.27 | 1.12 | 1.78 | 2.06 | 3.89 | — |
| Cash Ratio | 0.52 | 0.52 | 0.51 | 0.39 | 0.27 | 0.51 | 0.28 | 0.74 | 1.01 | 2.90 | — |
| Asset Turnover | — | 0.77 | 0.70 | 0.66 | 0.70 | 0.71 | 0.71 | 0.57 | 0.54 | 0.75 | — |
| Inventory Turnover | 6.75 | 6.75 | 5.46 | 3.99 | 4.75 | 9.22 | 9.12 | 11.01 | 10.55 | 2.63 | — |
| Days Sales Outstanding | — | 119.97 | 127.83 | 142.22 | 161.07 | 159.47 | 161.90 | 168.76 | 171.62 | 53.64 | — |
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 | FY 2018 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | 1.1% | 4.8% | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | 29.4% | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 4.3% | 4.5% | 5.0% | 5.1% | — | — | — | — | — | — | — |
| Buyback Yield | 3.1% | 3.3% | 0.8% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 3.1% | 3.3% | 0.8% | 0.0% | 1.1% | 4.8% | — | — | — | — | — |
| Shares Outstanding | — | $73M | $72M | $70M | $68M | $67M | $66M | $65M | $66M | $60M | $53M |
Geopolitical R&D disruption
Based on current market data, Cognyte trades at an EV/EBITDA of 37.86, a multiple that appears to discount the firm's potential as a high-growth analytics provider while pricing it closer to a legacy infrastructure entity compared to its more highly valued, cloud-native software peers.
The forward P/E of 35.54 suggests that investors are baking in significant earnings recovery, yet the negative TTM P/E highlights the volatility of the company's recent bottom-line performance. This valuation gap warrants further investigation into whether the market is correctly identifying the transition to recurring revenue or simply applying a defensive discount due to geopolitical risk.
According to reported financial statements, Cognyte's ROIC has struggled to gain traction, fluctuating between -1.4% and 3.1% over the last ten quarters, which suggests that the company is currently in a capital-intensive phase where returns are not yet compounding effectively relative to its invested base.
The low ROIC trend indicates that the firm's heavy R&D investment has yet to translate into superior capital productivity. Investors should monitor whether the recent shift toward software-led revenue can drive a sustained expansion in returns, or if the high cost of maintaining specialized telecom integrations will continue to suppress capital efficiency.
As reported in recent quarterly filings, the company's cash conversion cycle remains elevated, peaking at 153 days in 2024Q4 and currently sitting at 90 days, which highlights the significant drag that long-term government project payment cycles exert on the firm's overall operational efficiency.
The high DSO of 112 days suggests that Cognyte lacks significant leverage over its sovereign clients, forcing the company to carry substantial unbilled receivables. This reliance on project-based milestones creates a structural inefficiency that differentiates it from pure-play SaaS models, which typically benefit from upfront billing and faster cash collection.
Based on the most recent quarterly data, Cognyte maintains a current ratio of 1.32 and a quick ratio of 1.23, which indicates a healthy liquidity position that appears sufficient to absorb the inherent volatility of its government-contract-driven cash flows without requiring external financing.
The company's ability to maintain these liquidity ratios while navigating a complex transition period suggests a conservative approach to balance sheet management. This liquidity buffer is critical, as it provides the necessary runway to sustain R&D spending even during periods of delayed project recognition or regional operational disruptions.
The most commonly misapplied metric for Cognyte is the P/E ratio, which obscures the company's true earning power by failing to account for the significant non-cash stock-based compensation and the lumpy nature of project-based revenue recognition inherent in its government-focused business model.
Investors should instead focus on EV/Sales or adjusted FCF metrics to better gauge the underlying growth and cash-generating potential of the business. Relying on P/E in this context is misleading, as it penalizes the firm for necessary R&D investments that are essential for maintaining its competitive moat in the signals intelligence sector.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CGNT stock.
Cognyte Software Ltd.'s current P/E ratio is -1070.1x. This places it at the 50th percentile of its historical range.
Cognyte Software Ltd.'s current EV/EBITDA is 43.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 44.0x.
Cognyte Software Ltd.'s return on equity (ROE) is -0.3%. The historical average is -51.7%.
Based on historical data, Cognyte Software Ltd. is trading at a P/E of -1070.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Cognyte Software Ltd. has 72.3% gross margin and 0.5% operating margin.
Cognyte Software Ltd.'s Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.