Latest Ratios: P/E Ratio 53.5x · EV/EBITDA 51.5x · ROE 19.1%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.1B | $4.5B | $4.6B | $1.6B | $852M | $1.3B | $2.0B | — |
| Enterprise Value | $4.0B | $4.4B | $4.4B | $1.5B | $780M | $1.1B | $1.8B | — |
| P/E Ratio → | 53.45 | 58.16 | — | — | 7.39 | 18.23 | — | — |
| P/S Ratio | 8.69 | 9.47 | 11.50 | 5.07 | 3.15 | 5.26 | 10.11 | — |
| P/B Ratio | 8.55 | 9.30 | 13.73 | 48.13 | 11.53 | — | 30.89 | — |
| P/FCF | 26.54 | 28.93 | 37.96 | 17.49 | 74.13 | 46.37 | 32.67 | — |
| P/OCF | 24.46 | 26.67 | 34.91 | 16.14 | 41.40 | 35.94 | 29.63 | — |
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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.26 | 11.05 | 4.53 | 2.88 | 4.67 | 9.45 | — |
| EV / EBITDA | 51.46 | 56.21 | 65.68 | 34.02 | 76.15 | 55.19 | 122.02 | — |
| EV / EBIT | 60.64 | 48.29 | — | — | 6.45 | 13.94 | 161.64 | — |
| EV / FCF | — | 28.28 | 36.48 | 15.63 | 67.84 | 41.14 | 30.54 | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.2% | 84.2% | 84.4% | 83.6% | 81.3% | 82.7% | 80.6% | 79.2% |
| Operating Margin | 14.0% | 14.0% | 14.2% | 10.2% | 0.4% | 5.6% | 4.7% | -0.9% |
| Net Profit Margin | 16.5% | 16.5% | -70.5% | -24.9% | 44.6% | 29.0% | 3.0% | -1.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 19.1% | 19.1% | -152.9% | -150.1% | 46642.9% | — | 9.4% | -3.2% |
| ROA | 9.6% | 9.6% | -46.3% | -17.3% | 32.5% | 20.3% | 1.8% | -0.7% |
| ROIC | 18.5% | 18.5% | 603.1% | — | 49.7% | — | — | — |
| ROCE | 13.8% | 13.8% | 16.9% | 14.0% | 0.6% | 7.7% | 4.8% | -0.8% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 0.03 | 0.41 | 0.21 | — | — | — |
| Debt / EBITDA | 0.29 | 0.29 | 0.16 | 0.33 | 1.50 | — | — | — |
| Net Debt / Equity | — | -0.21 | -0.54 | -5.13 | -0.98 | — | -2.02 | -1.30 |
| Net Debt / EBITDA | -1.30 | -1.30 | -2.68 | -4.06 | -7.06 | -7.01 | -8.53 | -29.91 |
| Debt / FCF | — | -0.65 | -1.49 | -1.86 | -6.29 | -5.22 | -2.13 | -7.71 |
| Interest Coverage | — | — | -0.79 | — | 811.47 | 538.94 | 8.01 | 4.39 |
Net cash position: cash ($124M) exceeds total debt ($23M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.56 | 1.56 | 1.92 | 1.66 | 1.42 | 1.46 | 2.03 | 2.64 |
| Quick Ratio | 1.54 | 1.54 | 1.89 | 1.62 | 1.38 | 1.43 | 2.00 | 2.60 |
| Cash Ratio | 1.18 | 1.18 | 1.51 | 1.19 | 0.88 | 0.97 | 1.49 | 2.02 |
| Asset Turnover | — | 0.51 | 0.58 | 0.61 | 0.67 | 0.72 | 0.53 | 0.61 |
| Inventory Turnover | 9.89 | 9.89 | 7.00 | 5.36 | 4.99 | 6.54 | 7.97 | 9.05 |
| Days Sales Outstanding | — | 80.55 | 74.93 | 86.75 | 106.22 | 100.06 | 124.20 | 93.95 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | 7.7% | 0.5% | — |
| Payout Ratio | — | — | — | — | — | 140.1% | 173.0% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.9% | 1.7% | — | — | 13.5% | 5.5% | — | — |
| FCF Yield | 3.8% | 3.5% | 2.6% | 5.7% | 1.3% | 2.2% | 3.1% | — |
| Buyback Yield | 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% | 7.7% | 0.5% | — |
| Shares Outstanding | — | $250M | $209M | $190M | $195M | $162M | $187M | $187M |
Geopolitical and regulatory exposure
According to current market data, Cellebrite trades at a forward P/E of 41.95, a valuation that appears to price in sustained double-digit growth and significant margin expansion, potentially leaving little room for error if the transition to a subscription-based model encounters unexpected headwinds or competitive pricing pressure.
The current P/S ratio of 7.22 suggests investors are paying a premium for the company's high gross margins and recurring revenue profile compared to broader software peers. This valuation implies that the market expects the firm to successfully scale its 'Digital Intelligence' platform while maintaining its technological moat against evolving mobile encryption standards.
Based on reported financial statements, Cellebrite's ROIC has fluctuated significantly, reaching 5.5% in 2025Q4, which suggests that the company is still in the early stages of generating meaningful returns on its invested capital as it pivots toward a software-centric business model and integrates recent strategic acquisitions.
The volatility in ROIC, including a notable 75.2% spike in 2024Q3, indicates that non-recurring items and accounting adjustments currently obscure the underlying trend in capital productivity. Investors should monitor whether the company can sustain a return on capital that exceeds its cost of capital as the business matures and R&D investments begin to yield more predictable software-driven cash flows.
As reported in recent quarterly filings, Cellebrite's cash conversion cycle has shown significant variability, ranging from 37 to 88 days over the last ten quarters, which appears to be driven by the timing of large-scale public sector procurement cycles and the associated billing of multi-year software maintenance contracts.
The DSO trend, which reached 75 days in 2025Q4, suggests that the company's reliance on government agencies creates inherent delays in cash collection that are typical for the sector. While the current CCC is manageable, any sustained increase in DSO could indicate a deterioration in customer payment terms or a shift in the mix toward slower-paying international public sector clients.
Based on the latest balance sheet data, Cellebrite maintains a current ratio of 1.53, providing a sufficient liquidity buffer to navigate potential operational disruptions or R&D-related cash outflows without the need for external financing, given the company's negligible debt-to-equity ratio of 0.04 as of 2026Q1.
The company's liquidity position appears robust, with cash reserves of $124.4 million providing a cushion against the inherent volatility of its government-focused revenue model. This conservative stance is appropriate given the geopolitical risks associated with its Israeli operations, ensuring that the firm can maintain its critical R&D spending even during periods of market or regional instability.
The P/E ratio is frequently misapplied to Cellebrite's business model because it fails to account for the significant impact of stock-based compensation and the ongoing transition from perpetual licenses to subscription revenue, which can artificially depress reported net income and distort the company's true earnings power.
Investors should instead focus on Free Cash Flow (FCF) margins and Annual Recurring Revenue (ARR) growth to better assess the company's underlying performance. Relying solely on P/E ignores the substantial non-cash expenses that are common in high-growth software firms, potentially leading to an inaccurate assessment of the company's valuation relative to its actual cash-generative capacity.
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Quick answers to the most common questions about buying CLBT stock.
Cellebrite DI Ltd.'s current P/E ratio is 53.5x. The historical average is 27.9x. This places it at the 67th percentile of its historical range.
Cellebrite DI Ltd.'s current EV/EBITDA is 51.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 57.4x.
Cellebrite DI Ltd.'s return on equity (ROE) is 19.1%. The historical average is -55.5%.
Based on historical data, Cellebrite DI Ltd. is trading at a P/E of 53.5x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Cellebrite DI Ltd. has 84.2% gross margin and 14.0% operating margin. Operating margin between 10-20% is typical for established companies.
Cellebrite DI Ltd.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.