Latest Ratios: P/E Ratio 26.1x · EV/EBITDA 13.6x · ROE 7.4%. (2005–2025 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 | $109M | $115M | $96M | $75M | $72M | $95M | $62M | $78M | $61M | $46M | $14M |
| Enterprise Value | $81M | $87M | $74M | $50M | $49M | $78M | $48M | $68M | $56M | $48M | $19M |
| P/E Ratio → | 26.14 | 27.70 | 26.66 | 23.57 | 16.89 | 19.18 | 18.40 | 14.98 | 12.41 | 13.82 | 2.89 |
| P/S Ratio | 4.11 | 4.34 | 4.74 | 3.86 | 3.26 | 4.47 | 3.11 | 3.13 | 3.41 | 2.57 | 0.67 |
| P/B Ratio | 1.87 | 1.98 | 1.81 | 1.54 | 1.67 | 2.33 | 1.81 | 2.56 | 2.52 | 3.35 | 1.40 |
| P/FCF | 18.06 | 19.09 | 51.78 | 287.96 | 11.74 | 41.40 | 18.14 | 19.17 | 34.22 | 20.33 | 3.76 |
| P/OCF | 15.13 | 15.99 | 39.28 | 31.27 | 10.77 | 29.19 | 14.06 | 12.27 | 25.25 | 9.57 | 3.23 |
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 | — | 3.28 | 3.65 | 2.60 | 2.23 | 3.65 | 2.38 | 2.70 | 3.10 | 2.65 | 0.88 |
| EV / EBITDA | 13.63 | 14.69 | 17.05 | 14.76 | 8.62 | 16.33 | 13.25 | 9.56 | 13.73 | 10.01 | 2.93 |
| EV / EBIT | 17.81 | 15.79 | 20.22 | 14.70 | 9.63 | 14.75 | 13.76 | 10.71 | 16.67 | 12.13 | 3.36 |
| EV / FCF | — | 14.41 | 39.91 | 193.76 | 8.02 | 33.73 | 13.91 | 16.56 | 31.16 | 20.96 | 4.93 |
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 | 66.5% | 66.5% | 69.8% | 67.3% | 68.3% | 69.2% | 63.5% | 65.6% | 70.3% | 66.4% | 59.9% |
| Operating Margin | 17.1% | 17.1% | 17.6% | 14.2% | 22.5% | 18.0% | 14.0% | 25.0% | 18.4% | 21.2% | 26.2% |
| Net Profit Margin | 15.5% | 15.5% | 17.9% | 16.1% | 19.4% | 23.2% | 16.7% | 20.9% | 27.7% | 18.5% | 23.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.4% | 7.4% | 7.2% | 6.8% | 10.2% | 13.1% | 10.3% | 19.0% | 26.1% | 27.9% | 68.4% |
| ROA | 6.8% | 6.8% | 6.7% | 6.3% | 9.3% | 11.9% | 9.2% | 16.6% | 18.9% | 14.2% | 22.1% |
| ROIC | 11.2% | 11.2% | 9.8% | 9.2% | 17.1% | 13.3% | 10.6% | 24.1% | 14.5% | 19.2% | 29.8% |
| ROCE | 8.1% | 8.1% | 7.0% | 6.0% | 11.8% | 10.1% | 8.5% | 22.0% | 14.6% | 19.4% | 30.0% |
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 | 0.01 | 0.01 | 0.01 | — | — | 0.00 | 0.02 | 0.03 | 0.08 | 0.60 | 0.99 |
| Debt / EBITDA | 0.07 | 0.07 | 0.09 | — | — | 0.01 | 0.16 | 0.15 | 0.50 | 1.74 | 1.58 |
| Net Debt / Equity | — | -0.49 | -0.42 | -0.50 | -0.53 | -0.43 | -0.42 | -0.35 | -0.23 | 0.10 | 0.44 |
| Net Debt / EBITDA | -4.77 | -4.77 | -5.07 | -7.18 | -3.99 | -3.71 | -4.04 | -1.50 | -1.35 | 0.30 | 0.70 |
| Debt / FCF | — | -4.68 | -11.86 | -94.20 | -3.72 | -7.67 | -4.24 | -2.61 | -3.06 | 0.63 | 1.17 |
| Interest Coverage | — | — | — | — | 529.89 | 268.27 | 49.46 | 69.42 | 13.46 | 6.60 | 6.47 |
Net cash position: cash ($29M) exceeds total debt ($394932)
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 | 8.86 | 8.86 | 11.03 | 12.47 | 10.67 | 8.35 | 8.18 | 8.07 | 5.59 | 3.71 | 4.33 |
| Quick Ratio | 6.45 | 6.45 | 7.44 | 8.90 | 7.78 | 5.84 | 5.48 | 6.28 | 4.41 | 2.82 | 3.58 |
| Cash Ratio | 5.08 | 5.08 | 5.77 | 7.46 | 6.61 | 4.17 | 4.47 | 3.92 | 2.32 | 1.66 | 1.60 |
| Asset Turnover | — | 0.41 | 0.35 | 0.37 | 0.47 | 0.47 | 0.53 | 0.73 | 0.63 | 0.75 | 0.92 |
| Inventory Turnover | 0.65 | 0.65 | 0.44 | 0.54 | 0.70 | 0.61 | 0.80 | 1.61 | 1.40 | 1.66 | 3.26 |
| Days Sales Outstanding | — | 95.93 | 102.66 | 81.80 | 59.51 | 90.49 | 54.76 | 97.76 | 128.42 | 85.35 | 117.91 |
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 | 3.8% | 3.6% | 3.8% | 4.2% | 5.9% | 5.2% | 5.4% | 6.7% | 8.1% | 7.2% | 34.6% |
| FCF Yield | 5.5% | 5.2% | 1.9% | 0.3% | 8.5% | 2.4% | 5.5% | 5.2% | 2.9% | 4.9% | 26.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.4% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.4% | 0.0% |
| Shares Outstanding | — | $11M | $11M | $11M | $11M | $11M | $11M | $11M | $10M | $9M | $8M |
Lumpy defense procurement cycles
Based on current market data, CODA trades at a P/E of 25.95, which appears to discount the company's proprietary technology advantage relative to larger defense peers like Teledyne, potentially due to lower liquidity and the inherent volatility of its project-based revenue model.
The forward P/E of 20.21 suggests that the market anticipates earnings growth, yet the PEG ratio of 6.06 indicates that this valuation may be expensive relative to near-term growth expectations. Investors should monitor whether the transition toward commercial offshore wind applications can justify a higher multiple by reducing reliance on lumpy defense contracts.
As reported in financial statements, CODA's ROIC has remained in a narrow range between 0.7% and 3.9% over the last ten quarters, suggesting that despite high gross margins, the company has struggled to efficiently deploy its capital to generate significant returns on invested capital.
The low ROIC relative to the company's strong gross margins implies that significant capital is tied up in non-productive assets or that the scale of operations is currently insufficient to leverage the fixed cost base. This warrants further investigation into whether the large cash balance is dragging down overall return metrics.
According to quarterly data, the company's cash conversion cycle remains exceptionally long, peaking at 863 days in 2024Q3, primarily driven by a high days inventory outstanding that suggests significant capital is locked in hardware components awaiting final assembly or project-specific deployment.
The persistent elevation of DIO, which reached 708 days in 2025Q1, indicates that inventory management is a critical bottleneck for cash flow generation. This inefficiency appears structural, likely stemming from the specialized nature of sonar components that require long lead times and project-specific customization.
Based on reported figures, CODA maintains a current ratio consistently above 10.0x, providing an exceptionally robust liquidity position that effectively insulates the firm from the short-term cash flow volatility inherent in its defense-heavy, project-based revenue recognition cycle.
While this liquidity profile is a clear strength, the lack of debt and high cash-to-revenue ratio may indicate an overly conservative capital allocation strategy. Investors should monitor whether management intends to deploy this capital for strategic M&A or R&D to accelerate growth, rather than allowing it to remain idle.
The P/E ratio is frequently misapplied to CODA, as it obscures the impact of lumpy, milestone-based revenue recognition and the significant interest income generated by the company's large cash reserves, which can artificially inflate or deflate net income in any given quarter.
Analysts should instead focus on EV/EBITDA or P/S ratios to better assess the underlying operational performance of the Marine Technology segment. Relying on P/E may lead to erroneous conclusions about the company's earning power, as it fails to account for the non-operating cash drag on return metrics.
Includes 30+ ratios · 21 years · Updated daily
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Quick answers to the most common questions about buying CODA stock.
Coda Octopus Group, Inc.'s current P/E ratio is 26.1x. The historical average is 12.7x. This places it at the 87th percentile of its historical range.
Coda Octopus Group, Inc.'s current EV/EBITDA is 13.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.1x.
Coda Octopus Group, Inc.'s return on equity (ROE) is 7.4%. The historical average is -15.8%.
Based on historical data, Coda Octopus Group, Inc. is trading at a P/E of 26.1x. This is at the 87th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Coda Octopus Group, Inc. has 66.5% gross margin and 17.1% operating margin. Operating margin between 10-20% is typical for established companies.
Coda Octopus Group, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.