Latest Ratios: P/E Ratio -14.1x · EV/EBITDA 11.0x · ROE -56.2%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $61M | $809M | $132M | $606M | $706M | $1.2B | — | — |
| Enterprise Value | $378M | $1.1B | $408M | $872M | $873M | $1.5B | — | — |
| P/E Ratio → | -14.15 | — | — | — | — | — | — | — |
| P/S Ratio | 0.22 | 2.87 | 0.43 | 1.73 | 1.84 | 3.40 | — | — |
| P/B Ratio | 10.41 | 7.47 | 0.75 | 2.44 | 2.36 | 10.07 | — | — |
| P/FCF | — | — | — | — | — | — | — | — |
| P/OCF | 1.95 | 25.98 | 13.44 | 10.25 | — | 15.42 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.00 | 1.31 | 2.49 | 2.28 | 4.07 | — | — |
| EV / EBITDA | 10.97 | 32.66 | — | 87.19 | — | 39.72 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.2% | 8.2% | 2.6% | 14.6% | 15.1% | 16.7% | 21.8% | 21.2% |
| Operating Margin | -20.1% | -20.1% | -45.6% | -25.3% | -77.9% | -15.7% | -10.0% | -2.5% |
| Net Profit Margin | -28.4% | -28.4% | -39.5% | -21.7% | -25.8% | -18.4% | -13.5% | -3.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -56.2% | -56.2% | -57.7% | -27.8% | -46.8% | -43.9% | -24.6% | -6.0% |
| ROA | -12.3% | -12.3% | -16.0% | -8.9% | -11.5% | -8.2% | -6.7% | -1.9% |
| ROIC | -9.6% | -9.6% | -22.0% | -13.5% | -53.7% | -10.6% | -7.4% | -2.8% |
| ROCE | -12.5% | -12.5% | -25.9% | -14.2% | -60.3% | -12.1% | -7.3% | -2.7% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.59 | 3.59 | 2.23 | 1.77 | 1.35 | 3.73 | 2.07 | 1.22 |
| Debt / EBITDA | 11.26 | 11.26 | — | 44.01 | — | 12.29 | 9.01 | 5.77 |
| Net Debt / Equity | — | 2.94 | 1.56 | 1.07 | 0.56 | 1.97 | 1.42 | 0.38 |
| Net Debt / EBITDA | 9.21 | 9.21 | — | 26.63 | — | 6.50 | 6.18 | 1.78 |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | -4.46 | -4.46 | -7.68 | -5.38 | -6.88 | -5.08 | -4.16 | -0.34 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.76 | 0.76 | 0.90 | 1.24 | 1.60 | 0.75 | 1.72 | 1.28 |
| Quick Ratio | 0.59 | 0.59 | 0.70 | 1.00 | 1.14 | 0.59 | 1.26 | 0.94 |
| Cash Ratio | 0.41 | 0.41 | 0.52 | 0.81 | 0.95 | 0.45 | 1.13 | 0.70 |
| Asset Turnover | — | 0.47 | 0.44 | 0.42 | 0.44 | 0.43 | 0.46 | 0.65 |
| Inventory Turnover | 8.95 | 8.95 | 6.73 | 5.63 | 2.83 | 4.17 | 3.01 | 3.72 |
| Days Sales Outstanding | — | 24.23 | 19.95 | 17.88 | 15.39 | 16.58 | 13.51 | 19.15 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | 0.3% | 0.6% | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| 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% | 0.3% | 0.6% | — | — |
| Shares Outstanding | — | $295M | $13M | $12M | $11M | $6M | $9M | $12M |
Persistent operating losses
According to current market data, GGR trades at a P/S ratio of 0.23, which appears to reflect deep investor skepticism regarding the company's ability to monetize its proprietary battery-swapping network, especially when compared to the higher multiples typically afforded to pure-play software or utility-based energy storage providers.
The negative P/E of -14.81 and the absence of a forward P/E suggest that the market is currently prioritizing the company's survival over its earnings potential. Investors should monitor whether the EV/EBITDA of 11.06 represents a value opportunity or a value trap, given the ongoing capital intensity required to maintain the network.
Based on reported figures, GGR's ROIC has remained consistently negative, bottoming at -10.0% in 2024Q4, which indicates that the company is currently destroying shareholder value rather than compounding it through its heavy investments in battery-swapping infrastructure and vehicle manufacturing assets across the Taiwan market.
The persistent inability to generate a positive return on invested capital suggests that the current scale of the network is insufficient to cover the high depreciation costs of the battery fleet. This trend warrants further investigation into whether international expansion can improve asset utilization or if it will merely dilute returns further.
As reported in financial statements, GGR's cash conversion cycle has fluctuated significantly, reaching 55 days in 2026Q1, which suggests that the company faces ongoing challenges in managing its inventory of electric two-wheelers and collecting subscription-based receivables from its user base in a timely manner.
The asset turnover ratio of 0.11 remains stagnant, highlighting the difficulty of sweating a capital-heavy infrastructure base. Investors should monitor the DPO and DIO trends, as any lengthening of the cash conversion cycle could further strain the company's already limited liquidity position.
According to recent quarterly filings, GGR's debt-to-equity ratio of 0.92 in 2026Q1, while improved from previous periods, continues to signal a reliance on external financing to fund the ongoing maintenance and expansion of its proprietary battery-swapping network in a high-interest rate environment.
The negative interest coverage ratio of -1.65 suggests that the company is not generating sufficient operating income to cover its debt service obligations, raising concerns about refinancing risks. This leverage profile appears increasingly precarious given the company's history of persistent net losses and cash burn.
The most commonly misapplied metric for GGR is the P/E ratio, which obscures the company's true nature as a distributed energy utility by focusing on the volatile and cyclical hardware sales segment rather than the recurring, high-margin potential of the battery-as-a-service subscription model.
Analysts should instead focus on metrics like EV/Subscriber or network utilization rates to better capture the value of the infrastructure moat. Relying on traditional auto-parts valuation multiples fails to account for the long-term lock-in effect created by the proprietary battery-swapping network.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying GGR stock.
Gogoro Inc.'s current P/E ratio is -14.1x. This places it at the 50th percentile of its historical range.
Gogoro Inc.'s current EV/EBITDA is 11.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 53.2x.
Gogoro Inc.'s return on equity (ROE) is -56.2%. The historical average is -37.6%.
Based on historical data, Gogoro Inc. is trading at a P/E of -14.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Gogoro Inc. has 8.2% gross margin and -20.1% operating margin.
Gogoro Inc.'s Debt/EBITDA ratio is 11.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.