Latest Ratios: P/E Ratio -5.9x · EV/EBITDA N/A · ROE -10.0%. (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 | $571M | $388M | $438M | $324M | $307M | $676M | $736M | — | — |
| Enterprise Value | $527M | $344M | $411M | $184M | $112M | $191M | $767M | — | — |
| P/E Ratio → | -5.87 | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.49 | 1.01 | 1.71 | 2.01 | 5.63 | 30.43 | 56.42 | — | — |
| P/B Ratio | 0.63 | 1.01 | 0.99 | 0.60 | 0.59 | 1.15 | 8.23 | — | — |
| 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 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.90 | 1.60 | 1.14 | 2.04 | 8.61 | 58.81 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.0% | 21.0% | 11.4% | 6.0% | -10.4% | -30.7% | -73.6% | -49.9% | -57.8% |
| Operating Margin | -28.8% | -28.8% | -51.2% | -95.3% | -273.9% | -404.4% | -447.8% | -199.5% | -165.6% |
| Net Profit Margin | -10.8% | -10.8% | -17.3% | -26.4% | -50.5% | -26.6% | — | -141.3% | -82.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -10.0% | -10.0% | -9.0% | -8.0% | -5.0% | -1.7% | — | -117.4% | -47.3% |
| ROA | -4.7% | -4.7% | -5.5% | -5.5% | -3.7% | -1.3% | — | -33.2% | -16.5% |
| ROIC | -21.9% | -21.9% | -24.2% | -31.9% | -52.8% | -60.2% | -65.5% | -222.0% | — |
| ROCE | -14.5% | -14.5% | -18.7% | -22.6% | -22.3% | -22.0% | -67.2% | -58.3% | -41.0% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.28 | 0.28 | 0.20 | 0.13 | 0.10 | — | 0.44 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.11 | -0.06 | -0.26 | -0.38 | -0.82 | 0.35 | -0.10 | -0.62 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -15.36 | -15.36 | — | — | -5057.19 | -28.99 | -32.79 | — | — |
Net cash position: cash ($151M) exceeds total debt ($107M)
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 | 2.19 | 2.19 | 1.84 | 2.99 | 3.15 | 10.80 | 0.31 | 0.35 | 1.45 |
| Quick Ratio | 2.19 | 2.19 | 1.84 | 2.99 | 3.15 | 10.80 | 0.31 | 0.34 | 1.44 |
| Cash Ratio | 1.12 | 1.12 | 1.05 | 2.34 | 2.82 | 10.35 | 0.12 | 0.10 | 1.14 |
| Asset Turnover | — | 0.40 | 0.32 | 0.20 | 0.07 | 0.03 | 0.07 | 0.25 | 0.20 |
| Inventory Turnover | — | — | — | — | — | — | 1885.36 | 144.74 | 111.32 |
| Days Sales Outstanding | — | 36.71 | 90.36 | 100.19 | 127.62 | 224.78 | 198.99 | 31.41 | 68.49 |
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 | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — | — |
| Shares Outstanding | — | $133M | $108M | $91M | $69M | $68M | $69M | $69M | $69M |
High Capital Intensity Risk
Based on current market data, EVgo trades at a price-to-sales multiple of 1.44, which suggests investors are pricing the firm as a high-growth infrastructure play rather than a traditional utility, despite the lack of a positive P/E ratio or meaningful forward earnings visibility.
The absence of a positive P/E or EV/EBITDA multiple underscores the market's focus on top-line expansion and network footprint rather than near-term profitability. Investors should monitor whether this valuation premium can be sustained if the company fails to demonstrate a clear path toward positive free cash flow in the coming fiscal years.
According to quarterly financial data, EVgo's ROIC has remained consistently negative, hovering around -7.1% in 2026Q1, which indicates that the company is currently destroying shareholder value as it deploys capital into infrastructure projects that have yet to reach a sufficient utilization inflection point.
The persistent negative ROIC highlights the difficulty of generating adequate returns in a capital-intensive business model where fixed costs, such as grid connection fees and depreciation, significantly outweigh current revenue throughput. This trend warrants further investigation into whether future site deployments will achieve higher efficiency than the existing, underperforming asset base.
As reported in recent financial statements, EVgo's asset turnover ratio remains extremely low at 0.12, reflecting the significant time lag between initial capital expenditure on charging hardware and the eventual generation of meaningful revenue from those specific physical assets.
The fluctuation in Days Sales Outstanding, which reached 30 days in 2026Q1, suggests that the company's cash conversion cycle is heavily influenced by the timing of project-based eXtend hardware sales. Investors should monitor whether the company can improve its asset utilization rates to better align with the high fixed-cost structure of its urban charging network.
Based on the 2026Q1 balance sheet, EVgo maintains a current ratio of 2.07, which appears adequate on the surface, yet this liquidity position is heavily dependent on cash reserves that are being rapidly depleted by ongoing negative free cash flow and aggressive capital expenditure requirements.
While the current ratio suggests a short-term ability to meet obligations, the underlying cash burn rate indicates that the company may face liquidity pressure if it cannot secure additional funding or reach operational break-even. The reliance on external capital to maintain this liquidity buffer remains a critical risk factor for long-term solvency.
The most commonly misapplied metric for EVgo is the price-to-sales ratio, which obscures the company's underlying unit economics by failing to distinguish between high-margin recurring charging revenue and lumpy, lower-margin project-based hardware sales from the eXtend segment.
Analysts should instead focus on GWh throughput and utilization rates per stall, as these metrics provide a more accurate proxy for the long-term health of the network. Relying on headline revenue growth may lead to an overestimation of the company's intrinsic value by ignoring the high fixed costs associated with maintaining grid-connected infrastructure.
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Quick answers to the most common questions about buying EVGO stock.
EVgo, Inc.'s current P/E ratio is -5.9x. This places it at the 50th percentile of its historical range.
EVgo, Inc.'s return on equity (ROE) is -10.0%. The historical average is -28.4%.
Based on historical data, EVgo, Inc. is trading at a P/E of -5.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
EVgo, Inc. has 21.0% gross margin and -28.8% operating margin.