Latest Ratios: P/E Ratio -1.3x · EV/EBITDA N/A · ROE -20.1%. (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 | $9M | $12M | $16M | $22M | $6M | $19M | — | — | — | — |
| Enterprise Value | $-11771788 | $-8112239 | $-3371055 | $8M | $28M | $29M | — | — | — | — |
| P/E Ratio → | -1.30 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.24 | 0.35 | 0.44 | 0.60 | 0.19 | 0.55 | — | — | — | — |
| P/B Ratio | 0.25 | 0.36 | 0.50 | 0.86 | 0.33 | 2.88 | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | 357.62 | — | — | — | — |
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 | — | -0.23 | -0.09 | 0.22 | 0.82 | 0.83 | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | 21.74 | — | — | — | — |
| 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 | 15.0% | 15.0% | 17.2% | 4.2% | 3.6% | 8.1% | 16.2% | 11.6% | 15.2% | 13.8% |
| Operating Margin | -16.7% | -16.7% | -18.5% | -80.8% | -49.5% | -10.7% | -5.6% | -0.3% | 3.2% | 4.6% |
| Net Profit Margin | -18.9% | -18.9% | -16.1% | -81.5% | -54.7% | -15.8% | -8.3% | 0.1% | 0.2% | 3.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -20.1% | -20.1% | -20.5% | -133.4% | -144.2% | -245.6% | — | 4.2% | 4.5% | 62.2% |
| ROA | -14.2% | -14.2% | -13.0% | -55.2% | -35.9% | -14.0% | -8.2% | 0.2% | 0.3% | 4.6% |
| ROIC | -33.3% | -33.3% | -41.6% | -84.2% | -42.8% | -16.1% | -8.1% | -0.4% | 6.0% | 7.8% |
| ROCE | -14.5% | -14.5% | -19.1% | -79.3% | -54.5% | -15.5% | -10.3% | -1.0% | 12.3% | 16.1% |
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 | 0.12 | 0.12 | 0.08 | 0.26 | 1.48 | 3.96 | — | 20.24 | 14.88 | 8.22 |
| Debt / EBITDA | — | — | — | — | — | 19.58 | 9.20 | 5.38 | 4.93 | 4.32 |
| Net Debt / Equity | — | -0.60 | -0.60 | -0.54 | 1.12 | 1.51 | — | 15.82 | 11.24 | 6.54 |
| Net Debt / EBITDA | — | — | — | — | — | 7.49 | 6.31 | 4.21 | 3.72 | 3.44 |
| Debt / FCF | — | — | — | — | — | — | 5.69 | 5.12 | 3.94 | 9.64 |
| Interest Coverage | — | — | — | -43.67 | -15.18 | -5.32 | -2.23 | 1.17 | 1.22 | 2.56 |
Net cash position: cash ($25M) exceeds total debt ($4M)
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 | 5.32 | 5.32 | 4.92 | 2.22 | 1.82 | 0.97 | 2.11 | 0.50 | 0.57 | 0.62 |
| Quick Ratio | 5.29 | 5.29 | 4.86 | 2.19 | 1.56 | 0.91 | 2.05 | 0.50 | 0.57 | 0.62 |
| Cash Ratio | 3.84 | 3.84 | 3.50 | 1.44 | 0.36 | 0.64 | 1.04 | 0.23 | 0.21 | 0.19 |
| Asset Turnover | — | 0.72 | 0.81 | 0.79 | 0.55 | 0.82 | 1.04 | 0.97 | 1.21 | 1.25 |
| Inventory Turnover | 194.41 | 194.41 | 77.55 | 68.63 | 6.51 | 23.31 | 63.71 | — | — | — |
| Days Sales Outstanding | — | 64.53 | 66.44 | 88.71 | 225.23 | 53.60 | 64.64 | 56.29 | 57.79 | 61.38 |
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% | 0.2% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $22M | $11M | $7M | $1M | $438430 | $143535 | $433907 | $433907 | $433907 |
Persistent Negative Operating Margins
According to current market data, GFAI trades at a price-to-sales multiple of 0.25, which, based on reported figures, suggests that investors are heavily discounting the company's revenue base due to the persistent lack of profitability and the ongoing contraction of its core cash-handling service segments.
The low P/S ratio indicates that the market assigns minimal value to the company's revenue, likely viewing the legacy cash-in-transit business as a declining asset. Without a clear path to positive earnings, the valuation appears to be tethered more to the company's cash-rich balance sheet than to any meaningful growth prospects in its AI-driven pivot.
As reported in financial statements, GFAI's ROIC has remained consistently negative, reaching -18.5% in 2025Q4, which indicates that the capital deployed into the business is currently failing to generate any economic return, further complicating the company's efforts to transition toward higher-margin automated solutions.
The persistent negative return on invested capital suggests that the company's high fixed-cost base, particularly its armored fleet and security personnel, is not being utilized efficiently enough to cover operating expenses. This trend warrants further investigation into whether the current capital allocation strategy is capable of reversing the long-term decay in shareholder value.
Based on recent quarterly filings, GFAI's cash conversion cycle has fluctuated significantly, reaching 16 days in 2025Q4, which, compared to historical highs of 96 days, suggests that while the company has improved its collection efficiency, it remains vulnerable to timing mismatches in its operational cash flow.
The reduction in the cash conversion cycle appears to be a positive development, yet it may also reflect a strategic shift in how the company manages its payables and receivables to preserve liquidity. Investors should monitor whether these efficiency gains are sustainable or merely a temporary byproduct of reduced operational scale.
According to the latest quarterly data, GFAI maintains a current ratio of 5.32, which, as reported in financial statements, provides a substantial $24.5M cash buffer that currently shields the company from the immediate risks associated with its ongoing negative operating margins and persistent net losses.
While the high current ratio suggests a strong short-term liquidity position, it is important to note that this is largely a function of the company's cash reserves rather than operational self-sufficiency. The lack of consistent positive free cash flow means that this liquidity is being steadily depleted to fund the company's current operating deficit.
Based on an analysis of the company's business model, the price-to-sales ratio is a commonly misapplied metric for GFAI, as it obscures the high-overhead, low-margin nature of the legacy cash-handling business and fails to account for the significant capital intensity required to maintain the physical security infrastructure.
Investors should instead focus on EV/EBITDA or free cash flow yield to better understand the company's ability to generate actual cash from its operations. Relying on P/S multiples in a business undergoing a difficult transition from labor-intensive logistics to technology services may lead to an overestimation of the company's underlying value.
Includes 30+ ratios · 9 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying GFAI stock.
Guardforce AI Co., Limited's current P/E ratio is -1.3x. This places it at the 50th percentile of its historical range.
Guardforce AI Co., Limited's return on equity (ROE) is -20.1%. The historical average is -61.6%.
Based on historical data, Guardforce AI Co., Limited is trading at a P/E of -1.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Guardforce AI Co., Limited has 15.0% gross margin and -16.7% operating margin.