Latest Ratios: P/E Ratio -101.0x · EV/EBITDA 52.9x · ROE -11.7%. (1996–2025 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 | $196M | $48M | $41M | $49M | $49M | $55M | $50M | $56M | $77M | $108M | $174M |
| Enterprise Value | $212M | $64M | $46M | $39M | $35M | $35M | $15M | $42M | $61M | $94M | $162M |
| P/E Ratio → | -100.96 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.60 | 0.64 | 0.56 | 0.51 | 0.95 | 2.21 | 0.58 | 0.38 | 0.50 | 0.69 | 1.30 |
| P/B Ratio | 12.40 | 3.06 | 2.39 | 1.56 | 1.00 | 0.88 | 0.54 | 0.54 | 0.66 | 0.76 | 1.02 |
| P/FCF | 27.46 | 6.77 | — | — | — | — | 2.95 | 10.94 | — | — | 354.02 |
| P/OCF | 14.04 | 3.46 | — | 60.14 | — | — | 2.52 | 5.87 | 6.02 | — | 19.88 |
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 | — | 0.85 | 0.62 | 0.41 | 0.68 | 1.40 | 0.17 | 0.29 | 0.40 | 0.60 | 1.21 |
| EV / EBITDA | 52.92 | 16.01 | 38.56 | — | — | — | 4.64 | 6.16 | 12.47 | 52.14 | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 8.98 | — | — | — | — | 0.88 | 8.21 | — | — | 329.03 |
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 | 9.7% | 9.7% | 7.3% | 1.8% | -13.1% | 47.9% | 80.1% | 85.0% | 80.6% | 75.0% | 66.8% |
| Operating Margin | -2.2% | -2.2% | -6.1% | -13.5% | -43.0% | -118.4% | -16.3% | -11.1% | -16.2% | -23.8% | -37.1% |
| Net Profit Margin | -2.6% | -2.6% | -5.6% | -12.5% | -36.1% | -117.8% | -15.3% | -10.4% | -15.8% | -19.9% | -29.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -11.7% | -11.7% | -16.9% | -30.3% | -33.5% | -37.9% | -13.6% | -13.8% | -18.9% | -20.0% | -20.9% |
| ROA | -4.5% | -4.5% | -9.2% | -19.1% | -26.1% | -32.8% | -11.4% | -10.9% | -15.5% | -17.7% | -18.3% |
| ROIC | -4.7% | -4.7% | -15.7% | -34.4% | -43.0% | -44.5% | -14.4% | -12.8% | -16.5% | -19.7% | -21.7% |
| ROCE | -6.6% | -6.6% | -16.0% | -29.6% | -37.3% | -36.0% | -13.6% | -14.0% | -18.5% | -23.4% | -25.2% |
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 | 1.31 | 1.31 | 0.33 | 0.20 | 0.10 | 0.08 | 0.07 | 0.12 | 0.11 | 0.06 | 0.01 |
| Debt / EBITDA | 5.16 | 5.16 | 4.87 | — | — | — | 1.93 | 1.83 | 2.59 | 4.38 | — |
| Net Debt / Equity | — | 1.00 | 0.25 | -0.30 | -0.28 | -0.32 | -0.38 | -0.13 | -0.14 | -0.10 | -0.07 |
| Net Debt / EBITDA | 3.93 | 3.93 | 3.70 | — | — | — | -10.94 | -2.05 | -3.23 | -7.88 | — |
| Debt / FCF | — | 2.20 | — | — | — | — | -2.07 | -2.73 | — | — | -24.98 |
| Interest Coverage | -2.61 | -2.61 | -24.86 | -117.86 | -597.00 | -1385.52 | -157.70 | -34.52 | -60.78 | -233.84 | -176.85 |
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 | 0.81 | 0.81 | 1.46 | 1.48 | 2.71 | 5.65 | 7.87 | 3.59 | 2.82 | 4.33 | 5.05 |
| Quick Ratio | 0.81 | 0.81 | 1.42 | 1.48 | 2.71 | 6.82 | 7.87 | 3.52 | 2.82 | 4.33 | 5.05 |
| Cash Ratio | 0.20 | 0.20 | 0.14 | 0.72 | 1.17 | 3.38 | 5.58 | 1.57 | 1.44 | 2.17 | 3.66 |
| Asset Turnover | — | 1.35 | 2.40 | 1.66 | 0.75 | 0.33 | 0.83 | 1.14 | 1.02 | 0.95 | 0.71 |
| Inventory Turnover | — | — | 175.85 | — | — | — | — | 15.66 | — | — | — |
| Days Sales Outstanding | — | 63.83 | 51.00 | 48.00 | 94.77 | 131.62 | 31.13 | 61.15 | 60.15 | 77.01 | 43.89 |
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 | — | — | 23.8% | — | — | — | — | — | 0.0% | — | — |
| 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 | 3.6% | 14.8% | — | — | — | — | 33.9% | 9.1% | — | — | 0.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.1% | 0.0% | 0.2% | 0.1% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 23.8% | 0.0% | 0.0% | 0.1% | 0.1% | 0.0% | 0.2% | 0.1% | 0.0% |
| Shares Outstanding | — | $31M | $31M | $27M | $25M | $24M | $23M | $23M | $23M | $23M | $23M |
Cyclical project-based revenue volatility
According to recent financial data, DWSN trades at a P/S of 2.19 and a P/B of 10.46, suggesting that the market is pricing the company based on its asset-heavy footprint rather than its current, highly inconsistent earnings profile which shows a negative TTM P/E of -85.14.
The lack of a forward P/E multiple indicates that investors remain skeptical regarding the company's ability to achieve sustained profitability in the near term. The elevated P/B ratio relative to the sector suggests that the market may be overvaluing the book value of specialized seismic equipment that faces significant risk of technological obsolescence.
Based on reported figures, DWSN's ROIC has oscillated wildly from a peak of 22.6% in 2024Q1 to a low of -25.7% in 2024Q3, illustrating that the company struggles to compound capital effectively due to the extreme cyclicality inherent in its North American seismic data acquisition business model.
The volatility in ROIC suggests that management's capital allocation is heavily dictated by project-specific wins rather than a consistent operational strategy. Investors should monitor whether the company can stabilize these returns above its cost of capital, as current trends indicate a pattern of value destruction during industry downturns.
As reported in financial statements, DWSN's asset turnover has remained consistently low, hovering between 0.25 and 0.61 over the last ten quarters, which highlights the difficulty of maintaining high utilization rates for its specialized fleet of vibrator trucks and recording systems in a competitive energy market.
The significant fluctuations in Days Sales Outstanding (DSO) suggest that the company lacks leverage over its E&P clients, leading to inconsistent cash collection cycles. This inefficiency in converting assets to revenue underscores the structural challenges of operating a high-fixed-cost business in a project-based industry.
According to quarterly balance sheet data, DWSN's current ratio has compressed from 1.48 in 2023Q4 to 1.01 in 2026Q1, indicating that the company's ability to cover short-term obligations is increasingly constrained by its reliance on project-based cash inflows and the high maintenance costs of its equipment.
The narrowing liquidity buffer leaves the firm with minimal margin for error during periods of operational disruption or project delays. Given the negative operating margins, the company appears vulnerable to liquidity stress if the current cycle of North American seismic demand fails to provide consistent cash flow.
Based on an analysis of the company's business model, the Price-to-Book (P/B) ratio is frequently misapplied to DWSN, as it obscures the reality that the firm's primary assets are specialized seismic equipment that may suffer from rapid technological obsolescence rather than holding long-term intrinsic value.
Investors should instead focus on EV/EBITDA or cash flow-based metrics to better gauge the company's ability to generate returns from its fleet. Relying on book value ignores the high probability that these assets may require significant capital reinvestment to remain competitive, rendering the P/B ratio a misleading indicator of value.
Includes 30+ ratios · 30 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying DWSN stock.
Dawson Geophysical Company's current P/E ratio is -101.0x. The historical average is 15.5x.
Dawson Geophysical Company's current EV/EBITDA is 52.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.1x.
Dawson Geophysical Company's return on equity (ROE) is -11.7%. The historical average is -5.0%.
Based on historical data, Dawson Geophysical Company is trading at a P/E of -101.0x. Compare with industry peers and growth rates for a complete picture.
Dawson Geophysical Company has 9.7% gross margin and -2.2% operating margin.
Dawson Geophysical Company's Debt/EBITDA ratio is 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.