Latest Ratios: P/E Ratio -0.1x · EV/EBITDA N/A · ROE -6579.4%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $1M | $1M | $2M | $3M | $46M | $36M | — |
| Enterprise Value | $16M | $16M | $52M | $13M | $52M | $56M | — |
| P/E Ratio → | -0.13 | — | — | — | — | 8.39 | — |
| P/S Ratio | 0.02 | 0.03 | 0.04 | 0.04 | 0.53 | 0.47 | — |
| P/B Ratio | 0.08 | 0.13 | — | 0.10 | 4.27 | 2.59 | — |
| P/FCF | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.27 | 1.03 | 0.21 | 0.60 | 0.71 | — |
| EV / EBITDA | — | — | — | — | — | 7.84 | — |
| EV / EBIT | — | — | — | 6.20 | — | 8.58 | — |
| 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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 26.7% | 26.7% | 23.0% | 24.0% | 27.4% | 38.0% | 43.7% |
| Operating Margin | -35.0% | -35.0% | -50.9% | -42.6% | -39.9% | 8.3% | 18.5% |
| Net Profit Margin | -119.3% | -119.3% | -80.2% | -21.5% | -46.4% | 5.6% | 14.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -6579.4% | -6579.4% | -438.9% | -71.5% | -322.5% | 38.4% | 80.4% |
| ROA | -86.5% | -86.5% | -54.0% | -16.8% | -48.4% | 9.1% | 36.6% |
| ROIC | -45.9% | -45.9% | -48.6% | -74.2% | -102.8% | 26.6% | 196.9% |
| ROCE | -34.1% | -34.1% | -58.4% | -66.5% | -64.9% | 18.5% | 75.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.84 | 2.84 | — | 0.84 | 2.24 | 3.18 | 0.11 |
| Debt / EBITDA | — | — | — | — | — | 6.31 | 0.11 |
| Net Debt / Equity | — | 1.25 | — | 0.38 | 0.58 | 1.36 | -0.61 |
| Net Debt / EBITDA | — | — | — | — | — | 2.70 | -0.58 |
| Debt / FCF | — | — | — | — | — | — | -1.00 |
| Interest Coverage | -2.46 | -2.46 | -0.89 | 0.14 | -4.86 | 12.46 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 2.54 | 2.54 | 1.51 | 1.38 | 1.78 | 3.67 | 2.20 |
| Quick Ratio | 1.31 | 1.31 | 0.51 | 0.42 | 0.57 | 2.17 | 1.37 |
| Cash Ratio | 0.92 | 0.92 | 0.22 | 0.31 | 0.43 | 1.42 | 0.87 |
| Asset Turnover | — | 0.68 | 0.67 | 0.86 | 0.97 | 1.02 | 2.51 |
| Inventory Turnover | 1.77 | 1.77 | 1.80 | 1.26 | 1.25 | 1.78 | 4.47 |
| Days Sales Outstanding | — | 26.24 | 17.41 | 9.29 | 6.11 | 3.66 | 14.23 |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 11.9% | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — |
| Shares Outstanding | — | $478333 | $686683 | $586516 | $428503 | $405522 | $527160 |
Capital structure dilution risk
According to recent market data, DFLI trades at a price-to-sales ratio of 0.02, a valuation level that suggests investors are heavily discounting the company's future growth prospects due to the persistent, deep operating losses and the significant execution risks inherent in its transition to proprietary cell manufacturing.
The negative P/E ratio and lack of meaningful forward earnings multiples indicate that the market is currently pricing the firm as a distressed asset rather than a growth-stage technology company. This valuation gap relative to broader industrial peers suggests that the market remains skeptical of the company's ability to achieve the scale necessary to justify its current R&D-heavy cost structure.
Based on reported financial figures, the company's ROIC has remained consistently negative, bottoming at -16.1% in 2025Q4, which indicates that the capital deployed into the Nevada manufacturing pilot line is currently failing to generate any positive economic return for shareholders compared to historical benchmarks.
The persistent decay in ROIC highlights a fundamental mismatch between the capital-intensive nature of the business and its current inability to command sufficient margins. Investors should monitor whether the transition to in-house cell production can eventually drive a positive spread over the cost of capital, as current trends suggest significant value destruction.
As reported in recent filings, the cash conversion cycle has remained highly volatile, peaking at 358 days in 2023Q4 and currently hovering near 197 days, which reveals significant inefficiencies in inventory management and a reliance on extended supplier payment terms to preserve cash during the current downturn.
The elevated days inventory outstanding (DIO) suggests that the company is struggling to align its production output with the cyclical demand of the RV market, leading to potential obsolescence risks. The inability to tighten the cash conversion cycle further complicates the company's liquidity position, as capital remains trapped in unsold inventory rather than supporting core operations.
According to the latest balance sheet data, the debt-to-equity ratio has surged to 14.23 as of 2026Q1, a dramatic increase that underscores the company's growing dependence on external financing to bridge the gap between its operational cash burn and its long-term manufacturing infrastructure investment goals.
The negative interest coverage ratio confirms that the company is currently unable to service its debt obligations from operating income, necessitating further capital raises or debt restructuring. This leverage profile appears increasingly unsustainable, particularly given the cyclical sensitivity of the company's primary revenue channels in the recreational vehicle sector.
The price-to-sales ratio is the most commonly misapplied metric for this business model, as it obscures the company's underlying structural inability to convert revenue into positive cash flow while ignoring the massive, non-recurring R&D expenditures required to sustain its proprietary dry-electrode manufacturing technology development.
Investors should instead focus on the cash burn rate relative to the remaining liquidity runway, as the P/S ratio fails to account for the company's high fixed-cost burden and the potential for significant equity dilution. Relying on revenue multiples in this context may lead to an overestimation of the company's intrinsic value by ignoring the fundamental requirement for a successful, profitable transition to in-house cell production.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying DFLI stock.
Dragonfly Energy Holdings Corp.'s current P/E ratio is -0.1x. The historical average is 8.4x.
Dragonfly Energy Holdings Corp.'s return on equity (ROE) is -6579.4%. The historical average is -142.8%.
Based on historical data, Dragonfly Energy Holdings Corp. is trading at a P/E of -0.1x. Compare with industry peers and growth rates for a complete picture.
Dragonfly Energy Holdings Corp. has 26.7% gross margin and -35.0% operating margin.