Latest Ratios: P/E Ratio -1.4x · EV/EBITDA N/A · ROE -49.5%. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $34M | $33M | $31M | $58M | $68M | $292M | $498M | — | — | — |
| Enterprise Value | $54M | $52M | $43M | $69M | $71M | $269M | $471M | — | — | — |
| P/E Ratio → | -1.41 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.08 | 0.08 | 0.09 | 0.17 | 0.16 | 0.88 | 2.82 | — | — | — |
| P/B Ratio | 0.86 | 0.87 | 0.69 | 1.06 | 1.10 | 3.64 | 16.81 | — | — | — |
| 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 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.12 | 0.13 | 0.20 | 0.17 | 0.81 | 2.66 | — | — | — |
| 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 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.1% | 8.1% | 8.4% | 8.2% | 7.9% | 9.0% | 5.9% | 5.4% | 5.0% | 6.3% |
| Operating Margin | -3.2% | -3.2% | -7.0% | -6.7% | -6.5% | -4.9% | -0.7% | -3.6% | -2.0% | -0.6% |
| Net Profit Margin | -4.8% | -4.8% | -6.4% | -6.9% | -6.7% | -3.8% | -0.8% | -3.7% | -2.2% | -0.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -49.5% | -49.5% | -43.2% | -40.9% | -38.9% | -22.8% | -9.4% | — | -1423.0% | -24451.3% |
| ROA | -26.5% | -26.5% | -27.9% | -30.1% | -29.8% | -17.8% | -7.1% | -129.4% | -51.4% | -16.0% |
| ROIC | -17.9% | -17.9% | -28.9% | -26.8% | -32.9% | -40.7% | -168.5% | — | -1816.6% | -77.4% |
| ROCE | -27.1% | -27.1% | -39.5% | -35.6% | -35.3% | -28.2% | -8.6% | -2363.3% | -241.8% | -73.0% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.69 | 0.69 | 0.42 | 0.32 | 0.18 | 0.19 | 0.03 | — | 2.45 | 282.27 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.53 | 0.26 | 0.18 | 0.05 | -0.29 | -0.93 | — | -1.89 | 192.48 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -33.04 | -33.04 | -41.08 | -96.28 | — | -2300.71 | -15.06 | -36.37 | -15.02 | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.06 | 1.06 | 1.29 | 1.42 | 1.51 | 2.58 | 6.58 | 0.56 | 1.17 | 1.17 |
| Quick Ratio | 1.06 | 1.06 | 1.29 | 1.42 | 1.50 | 2.58 | 6.39 | 0.56 | 1.17 | 1.17 |
| Cash Ratio | 0.17 | 0.17 | 0.37 | 0.45 | 0.67 | 1.80 | 5.73 | 0.20 | 0.33 | 0.07 |
| Asset Turnover | — | 5.39 | 4.45 | 4.36 | 5.15 | 3.15 | 5.02 | 44.02 | 20.16 | 21.01 |
| Inventory Turnover | — | — | — | — | 5679.03 | 2086.87 | 169.01 | — | 999999.00 | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 8.9% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 8.9% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $32M | $20M | $16M | $16M | $14M | $14M | $10M | $14M | $14M |
Liquidity and cash burn
As reported in recent financial statements, Fathom's P/FFO multiple has compressed to 1.16x in 2025Q4, a trend that suggests the market is heavily discounting the firm's ability to achieve sustainable profitability given the persistent negative FFO per share figures observed over the last ten quarters.
The current valuation multiple appears to reflect deep skepticism regarding the company's path to positive cash flow. Investors should monitor whether this low multiple represents a value opportunity or a rational response to the ongoing erosion of shareholder equity.
Based on the company's reported figures, NOI margins have demonstrated significant volatility, peaking at 12.5% in 2024Q2 before contracting to 7.9% in 2025Q4, which suggests that the firm's flat-fee brokerage model remains highly sensitive to competitive pressures and fluctuating transaction volumes in the residential market.
The inability to maintain stable margins indicates that the company's cost structure may not be as scalable as initially anticipated. This volatility warrants further investigation into whether the firm can achieve operating leverage without sacrificing its agent-facing value proposition.
According to recent SEC filings, Fathom's debt-to-equity ratio has climbed to 0.69 in 2025Q4, a marked increase from 0.29 in 2023Q3, which indicates an increasing reliance on debt financing to support operations as internal cash generation remains consistently negative across the observed period.
The rising leverage profile, combined with negative interest coverage ratios, suggests that the company's balance sheet is becoming increasingly strained. Investors should monitor the firm's ability to service existing obligations if the current housing market downturn persists.
As noted in financial analysis, the P/E ratio is frequently misapplied to Fathom, as it fails to account for the significant non-cash expenses and the specific capital structure of a brokerage firm, thereby obscuring the true economic reality of the company's ongoing operational cash burn.
Analysts should prioritize FFO or AFFO metrics over standard P/E, as the latter is distorted by accounting depreciation that does not reflect the firm's actual cash requirements. Relying on P/E in this context may lead to a fundamental misunderstanding of the company's liquidity risks.
Includes 30+ ratios · 9 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying FTHM stock.
Fathom Holdings Inc.'s current P/E ratio is -1.4x. This places it at the 50th percentile of its historical range.
Fathom Holdings Inc.'s return on equity (ROE) is -49.5%. The historical average is -34.1%.
Based on historical data, Fathom Holdings Inc. is trading at a P/E of -1.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Fathom Holdings Inc. has 8.1% gross margin and -3.2% operating margin.