Latest Ratios: P/E Ratio -46.7x · EV/EBITDA 19.8x · ROE -3.2%. (2006–2025 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 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.2B | $3.6B | — | — | — | — | — | — | — |
| Enterprise Value | $12.1B | $7.4B | — | — | — | — | — | — | — |
| P/E Ratio → | -46.66 | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.13 | 0.06 | — | — | — | — | — | — | — |
| P/B Ratio | 1.30 | 1.17 | — | — | — | — | — | — | — |
| 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 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.12 | — | — | — | — | — | — | — |
| EV / EBITDA | 19.84 | 12.22 | — | — | — | — | — | — | — |
| EV / EBIT | 21.02 | 12.94 | — | — | — | — | — | — | — |
| 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 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 1.9% | 1.9% | 3.0% | — | — | — | — | — | — |
| Operating Margin | 0.9% | 0.9% | 1.6% | — | — | — | — | — | — |
| Net Profit Margin | -0.1% | -0.1% | 0.3% | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -3.2% | -3.2% | 7.8% | 84.2% | -96.3% | 101.3% | -89.1% | -71.3% | -55.7% |
| ROA | -0.9% | -0.9% | 2.9% | 71.6% | -81.5% | 89.6% | -78.6% | -63.6% | -47.4% |
| ROIC | 6.4% | 6.4% | 18.2% | -0.3% | -0.3% | -0.8% | -68.2% | -57.2% | — |
| ROCE | 12.4% | 12.4% | 35.6% | -0.4% | -0.4% | -1.0% | -91.0% | -76.3% | -60.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.76 | 1.76 | 1.35 | — | — | — | — | — | — |
| Debt / EBITDA | 8.75 | 8.75 | 3.85 | — | — | — | — | — | — |
| Net Debt / Equity | — | 1.28 | 1.01 | -0.00 | -0.03 | -0.03 | -1.11 | -1.05 | -1.10 |
| Net Debt / EBITDA | 6.38 | 6.38 | 2.89 | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 9.71 | 9.71 | 23.42 | — | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.60 | 1.60 | 1.51 | 1.56 | 1.39 | 0.71 | 5.20 | 10.70 | 6.43 |
| Quick Ratio | 1.60 | 1.60 | 1.51 | 1.56 | 1.39 | 0.71 | 5.20 | 10.70 | 6.43 |
| Cash Ratio | 0.27 | 0.27 | 0.19 | 0.01 | 0.18 | 0.40 | 5.17 | 10.61 | 6.37 |
| Asset Turnover | — | 5.41 | 6.15 | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| 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 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.3% | 1.4% | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2008 | FY 2007 | FY 2006 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 1.3% | 1.4% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $159M | $121M | $127M | $105M | $94M | $106727 | $85677 | $61568 |
Extreme Asset Price Volatility
According to quarterly financial data, Galaxy Digital's ROIC has fluctuated wildly, swinging from a peak of 8.0% in 2025Q3 to a negative 2.1% by 2025Q4, illustrating the firm's struggle to generate consistent compounding returns on its capital base within the volatile digital asset ecosystem.
The inconsistency in ROIC suggests that the firm's capital allocation is heavily influenced by short-term market movements rather than long-term operational efficiency. Investors should monitor whether the firm can stabilize these returns as it pivots toward more capital-intensive infrastructure projects, which typically require longer gestation periods before yielding positive returns.
Based on reported figures, Galaxy Digital's asset turnover ratio has shown significant volatility, ranging from 0.89 in 2025Q4 to 9.97 in 2024Q1, which highlights the firm's reliance on high-velocity principal trading activities that do not necessarily translate into sustained operational efficiency or long-term value creation.
The high turnover ratios observed in earlier periods likely reflect periods of intense market activity, but the subsequent decline suggests a potential cooling of trading volumes or a shift in asset composition. This metric warrants further investigation to determine if the firm is becoming more efficient at utilizing its balance sheet or simply reacting to external market liquidity.
As reported in recent financial statements, Galaxy Digital's debt-to-equity ratio reached 1.10 in 2026Q1, marking a departure from the firm's historical reliance on equity financing and suggesting that management is increasingly utilizing debt to support its capital-intensive infrastructure and trading operations in a challenging market environment.
While a 1.10 ratio remains manageable compared to traditional financial institutions, the trend toward higher leverage in a sector prone to extreme price swings warrants caution. The firm's interest coverage ratio, which has been highly erratic, suggests that debt service capacity remains vulnerable to sudden shifts in market sentiment and asset valuations.
According to the firm's quarterly filings, the current ratio stood at 1.70 in 2026Q1, reflecting a tightening liquidity position compared to the 1.85 observed in 2024Q3, which may limit the firm's flexibility to navigate sudden shocks in the highly volatile digital asset markets.
The firm's liquidity position appears increasingly sensitive to the fair value of its digital asset holdings, which can fluctuate rapidly. Investors should monitor the composition of these current assets to ensure that the firm maintains sufficient cash and cash equivalents to meet short-term obligations without forced asset liquidations.
The Price-to-Book ratio is frequently misapplied to Galaxy Digital, as it fails to account for the significant mark-to-market volatility inherent in the firm's digital asset holdings, which can artificially inflate or deflate the book value depending on the prevailing market price of underlying cryptocurrencies.
Instead of relying on P/B, analysts should focus on adjusted tangible book value or net digital asset income to better gauge the firm's underlying economic health. Using standard valuation multiples for this business model obscures the reality that the balance sheet is essentially a high-beta portfolio rather than a collection of stable, productive assets.
Includes 30+ ratios · 8 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 GLXY stock.
Galaxy Digital's current P/E ratio is -46.7x. This places it at the 50th percentile of its historical range.
Galaxy Digital's current EV/EBITDA is 19.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.2x.
Galaxy Digital's return on equity (ROE) is -3.2%. The historical average is -15.3%.
Based on historical data, Galaxy Digital is trading at a P/E of -46.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Galaxy Digital's current dividend yield is 1.25%.
Galaxy Digital has 1.9% gross margin and 0.9% operating margin.
Galaxy Digital's Debt/EBITDA ratio is 8.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.