Latest Ratios: P/E Ratio -24.9x · EV/EBITDA 21.2x · ROE -12.9%. (2018–2025 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 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $162M | $219M | $83M | $29M | $60M | $307M | $733M | — | — |
| Enterprise Value | $157M | $213M | $80M | $-4782936 | $25M | $292M | $722M | — | — |
| P/E Ratio → | -24.91 | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.27 | 3.06 | 1.63 | 0.50 | 0.77 | 4.31 | 18.50 | — | — |
| P/B Ratio | 3.81 | 5.28 | 1.44 | 0.39 | 0.51 | 1.90 | 16.30 | — | — |
| P/FCF | 12.54 | 16.91 | 10.23 | — | — | — | — | — | — |
| P/OCF | 12.44 | 16.78 | 10.23 | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.98 | 1.56 | -0.08 | 0.32 | 4.10 | 18.22 | — | — |
| EV / EBITDA | 21.24 | 28.93 | 13.01 | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 16.46 | 9.79 | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.6% | 56.6% | 50.4% | 37.5% | 34.0% | 48.5% | 61.1% | 62.2% | -54.4% |
| Operating Margin | -10.2% | -10.2% | -26.1% | -44.8% | -66.2% | -73.6% | -97.9% | -246.6% | -357.1% |
| Net Profit Margin | -9.0% | -9.0% | -25.3% | -85.9% | -65.2% | -52.8% | -122.7% | -235.9% | -392.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -12.9% | -12.9% | -19.8% | -51.4% | -36.4% | -36.4% | -89.4% | -50.4% | -34.9% |
| ROA | -7.9% | -7.9% | -13.8% | -38.3% | -27.4% | -24.6% | -56.8% | -43.3% | -32.2% |
| ROIC | -12.2% | -12.2% | -21.4% | -31.5% | -33.9% | -43.6% | -65.6% | -68.4% | -58.9% |
| ROCE | -13.6% | -13.6% | -19.1% | -25.4% | -35.3% | -44.4% | -59.0% | -51.9% | -31.3% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.30 | 0.30 | 0.07 | 0.06 | 0.04 | — | — | — | — |
| Debt / EBITDA | 1.69 | 1.69 | 0.70 | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.14 | -0.06 | -0.46 | -0.30 | -0.09 | -0.25 | -0.14 | -0.60 |
| Net Debt / EBITDA | -0.80 | -0.80 | -0.58 | — | — | — | — | — | — |
| Debt / FCF | — | -0.45 | -0.43 | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($18M) exceeds total debt ($12M)
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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.23 | 1.23 | 1.66 | 1.94 | 2.25 | 2.36 | 2.36 | 2.71 | 14.00 |
| Quick Ratio | 1.23 | 1.23 | 1.66 | 1.94 | 2.25 | 2.36 | 2.08 | 2.71 | 14.00 |
| Cash Ratio | 0.60 | 0.60 | 1.34 | 1.61 | 1.78 | 1.69 | 1.54 | 2.47 | 13.48 |
| Asset Turnover | — | 0.95 | 0.59 | 0.56 | 0.51 | 0.33 | 0.45 | 0.22 | 0.08 |
| Inventory Turnover | — | — | — | — | — | — | 2.49 | — | — |
| Days Sales Outstanding | — | 45.30 | 43.56 | 30.54 | 50.97 | 120.33 | 66.53 | 35.98 | 49.80 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 13.9% | 10.0% | 4.9% | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | 8.0% | 5.9% | 9.8% | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 13.9% | 10.0% | 5.2% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $58M | $54M | $53M | $53M | $52M | $53M | $13M | $20M |
Liquidity and capital exhaustion
According to current market data, CuriosityStream trades at a P/S of 2.12, a valuation that appears disconnected from its negative earnings and decelerating growth, suggesting investors are pricing in a speculative turnaround rather than the company's current reality of persistent operating losses and shrinking asset base.
The forward P/E of 31.03 implies an optimistic expectation of future profitability that remains unsupported by the company's historical inability to scale margins. Investors should monitor whether this premium valuation is a result of low float or a misunderstanding of the company's long-term earnings potential compared to more established media peers.
As reported in financial statements, CuriosityStream's ROIC has consistently languished in negative territory, reaching -3.7% in 2026Q1, which indicates that the company is currently destroying shareholder value rather than compounding it through its investments in content library and subscriber acquisition efforts.
The persistent negative return on capital suggests that the cost of producing and licensing content significantly outweighs the revenue generated per user. This trend warrants investigation into whether the company's core business model can ever achieve a positive spread between its return on invested capital and its cost of capital.
Based on recent quarterly filings, CuriosityStream's asset turnover ratio has remained stagnant at 0.21, reflecting a fundamental inability to generate meaningful revenue from its existing asset base compared to the broader broadcasting sector, which typically exhibits higher efficiency in monetizing content libraries and distribution channels.
The fluctuation in Days Sales Outstanding, which reached 44 days in 2026Q1, suggests potential friction in collecting revenue from bundled partners. This inefficiency in the cash conversion cycle forces the company to rely on external liquidity, further straining its already vulnerable balance sheet.
As indicated by the 2026Q1 financial data, the company's current ratio has compressed to 0.95, marking a significant deterioration from the 2.17 level observed in 2024Q2 and signaling that current liabilities now exceed current assets, leaving the firm with minimal flexibility to navigate unexpected operational shocks.
The reliance on cash reserves to fund ongoing operations and dividend payments appears unsustainable given the current burn rate. Investors should monitor the company's ability to secure additional financing, as the current liquidity position provides little margin for error in a high-interest-rate environment.
Based on an analysis of reported figures, the most commonly misapplied metric for CuriosityStream is the headline subscriber count, which fails to distinguish between high-value direct-to-consumer users and low-margin bundled subscribers, thereby obscuring the true underlying ARPU and the sustainability of the company's revenue growth.
Analysts should instead focus on segment-specific ARPU and the Content Amortization-to-Revenue ratio to gauge the actual health of the business. Relying on total subscriber growth as a proxy for success ignores the reality that not all subscribers contribute equally to the bottom line, potentially leading to an overestimation of the company's competitive strength.
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Quick answers to the most common questions about buying CURI stock.
CuriosityStream Inc.'s current P/E ratio is -24.9x. This places it at the 50th percentile of its historical range.
CuriosityStream Inc.'s current EV/EBITDA is 21.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.0x.
CuriosityStream Inc.'s return on equity (ROE) is -12.9%. The historical average is -41.5%.
Based on historical data, CuriosityStream Inc. is trading at a P/E of -24.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
CuriosityStream Inc.'s current dividend yield is 13.93%.
CuriosityStream Inc. has 56.6% gross margin and -10.2% operating margin.
CuriosityStream Inc.'s Debt/EBITDA ratio is 1.7x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.