Latest Ratios: P/E Ratio -1.6x · EV/EBITDA N/A · ROE -43.6%. (2006–2025 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 | $3M | $4M | $4M | $24M | $66M | $132M | $117M | $80M | $85M | $53M | $45M |
| Enterprise Value | $3M | $3M | $3M | $23M | $63M | $127M | $113M | $79M | $82M | $51M | $43M |
| P/E Ratio → | -1.55 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.74 | 0.78 | 0.24 | 0.78 | 2.50 | 2.79 | 3.04 | 1.37 | 1.49 | 1.13 | 1.31 |
| P/B Ratio | 0.63 | 0.82 | 0.98 | 3.82 | 5.34 | 6.07 | 9.35 | 6.99 | 10.91 | 3.42 | 2.04 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | 357.83 | — | — | — | — |
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 | — | 0.61 | 0.19 | 0.76 | 2.42 | 2.69 | 2.94 | 1.36 | 1.44 | 1.09 | 1.24 |
| 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 7.7% | 7.7% | 2.9% | -1.4% | -0.7% | 0.2% | 1.6% | 9.5% | 4.2% | 9.9% | 22.3% |
| Operating Margin | -42.3% | -42.3% | -24.3% | -19.7% | -42.4% | -28.7% | -14.8% | -2.9% | -10.4% | -20.2% | -17.7% |
| Net Profit Margin | -38.4% | -38.4% | -24.4% | -19.5% | -37.3% | -5.8% | -13.6% | -2.2% | -24.7% | -21.7% | -18.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -43.6% | -43.6% | -75.4% | -64.4% | -57.5% | -16.1% | -43.7% | -13.1% | -121.5% | -53.6% | -26.0% |
| ROA | -18.3% | -18.3% | -36.0% | -38.7% | -37.4% | -10.3% | -26.6% | -7.1% | -62.1% | -34.6% | -19.8% |
| ROIC | -44.2% | -44.2% | -64.7% | -57.4% | -61.8% | -79.8% | -44.8% | -16.3% | -48.5% | -42.4% | -21.8% |
| ROCE | -46.2% | -46.2% | -73.5% | -59.1% | -58.9% | -74.6% | -47.1% | -16.8% | -49.5% | -49.7% | -24.3% |
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 | 0.04 | 0.04 | 0.03 | 0.04 | 0.17 | 0.11 | 0.03 | 0.06 | 0.13 | 0.06 | 0.03 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.18 | -0.19 | -0.09 | -0.19 | -0.22 | -0.31 | -0.08 | -0.35 | -0.13 | -0.10 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | -33.89 | -360.16 | -65.67 | -474.62 |
Net cash position: cash ($970000) exceeds total debt ($174000)
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 | 1.49 | 1.49 | 1.57 | 1.85 | 2.16 | 2.26 | 1.61 | 1.70 | 1.48 | 1.30 | 1.90 |
| Quick Ratio | 1.49 | 1.49 | 1.57 | 1.85 | 2.16 | 2.26 | 1.61 | 1.70 | 1.24 | 1.30 | 1.28 |
| Cash Ratio | 0.19 | 0.19 | 0.14 | 0.17 | 0.77 | 0.81 | 0.54 | 0.23 | 0.44 | 0.23 | 0.40 |
| Asset Turnover | — | 0.48 | 1.59 | 2.72 | 1.33 | 1.45 | 1.86 | 3.13 | 3.37 | 1.63 | 1.16 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 27.20 | — | 5.68 |
| Days Sales Outstanding | — | 108.30 | 90.90 | 43.42 | 24.28 | 27.00 | 23.45 | 21.07 | 31.84 | 56.47 | 38.06 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | $3M | $2M | $7M | $7M | $7M | $4M | $3M | $3M | $2M | $2M |
Liquidity and solvency risk
Based on reported figures, CNET trades at a price-to-sales ratio of 0.65, which appears to reflect the market's skepticism regarding the firm's ability to stabilize its core advertising business or successfully execute a pivot toward blockchain-based data services in a highly competitive Chinese SME market.
The absence of meaningful P/E or EV/EBITDA multiples underscores the company's lack of positive earnings, suggesting that investors are pricing the stock as a speculative option rather than a going concern. This valuation gap relative to broader sector averages implies that the market is heavily discounting the terminal value of the company's legacy portal assets.
According to historical financial data, CNET's ROIC has remained consistently negative, reaching -14.9% in 2025Q4, which indicates that the company is failing to generate adequate returns on its invested capital and is instead eroding shareholder value through persistent operational losses and inefficient resource allocation.
The inability to maintain positive returns on capital suggests that the company's pivot toward new technology initiatives has not yet offset the decline in its core advertising business. Investors should monitor whether management can improve capital efficiency, as current trends indicate a structural inability to compound value within the existing business model.
As reported in recent financial statements, the company's DSO has fluctuated significantly, reaching as high as 326 days in 2025Q2, which suggests that CNET faces substantial challenges in collecting receivables from its SME client base, thereby straining its already limited liquidity position.
The extreme volatility in collection cycles indicates a lack of leverage over customers and potential credit quality issues within the SME franchise segment. This inefficiency in working capital management exacerbates the company's cash burn, as the firm is forced to finance its operations while waiting for delayed payments.
Based on the latest quarterly filings, CNET's current ratio of 1.52 provides a superficial appearance of liquidity, yet the rapid depletion of cash reserves against ongoing operating losses suggests that the company's ability to meet short-term obligations is becoming increasingly precarious without external capital injections.
While the current ratio appears adequate on the surface, the underlying cash burn rate indicates that the company's liquidity position is highly vulnerable to further operational setbacks. Investors should be wary of the potential for dilutive financing, as the current cash balance is insufficient to support sustained losses over the long term.
Investors frequently rely on the P/B ratio of 0.55 to suggest that CNET is undervalued, yet this metric obscures the reality that the company's book value is heavily comprised of intangible assets and goodwill that may lack realizable value in a liquidation scenario.
Using P/B as a valuation anchor for this business model is misleading because it ignores the rapid erosion of tangible equity caused by persistent net losses. A more appropriate focus would be on the cash burn rate and the sustainability of the company's remaining liquid assets, rather than accounting book value.
Includes 30+ ratios · 20 years · Updated daily
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Quick answers to the most common questions about buying CNET stock.
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