Latest Ratios: P/E Ratio 38.6x · EV/EBITDA N/A · ROE 3.5%. (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 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| Market Cap | $310M | $309M | $119M | — | — | $310M | $291M |
| Enterprise Value | $310M | $309M | $118M | — | — | $310M | $289M |
| P/E Ratio → | 38.57 | 38.41 | 22.93 | — | — | — | 73.85 |
| P/S Ratio | — | — | — | — | — | — | — |
| P/B Ratio | 1.32 | 1.32 | 0.52 | — | — | 1.43 | 1.26 |
| 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 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | 22.63 | — | — | — | 32.65 |
| EV / EBIT | — | — | 22.63 | — | — | — | 32.65 |
| 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 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| ROE | 3.5% | 3.5% | 2.3% | — | -0.1% | -6.2% | 1.8% |
| ROA | 3.3% | 3.3% | 2.2% | — | — | -5.6% | 1.7% |
| ROIC | -0.6% | -0.6% | — | — | -0.1% | -0.2% | -0.1% |
| ROCE | -0.8% | -0.8% | -0.2% | — | — | -0.3% | -0.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.00 | -0.00 | — | — | -0.00 | -0.01 |
| Net Debt / EBITDA | — | — | -0.09 | — | — | — | -0.16 |
| Debt / FCF | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | -0.06 |
Net cash position: cash ($699) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 0.09 | 0.09 | 4.23 | — | — | 0.02 | 2.92 |
| Quick Ratio | 0.09 | 0.09 | 4.23 | — | — | 0.02 | 2.92 |
| Cash Ratio | 0.00 | 0.00 | 2.83 | — | — | 0.02 | 2.73 |
| Asset Turnover | — | — | — | — | — | — | — |
| 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 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.6% | 2.6% | 4.4% | — | — | — | 1.4% |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | 0.0% | 83.8% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | 0.0% | 83.8% |
| Shares Outstanding | — | $29M | $12M | $5M | $5M | $30M | $30M |
Failure to consummate merger
According to recent market data, GRAF trades at a P/E of 38.93, a valuation that appears disconnected from its pre-revenue status and suggests investors are pricing in a speculative premium for a future deal rather than any underlying fundamental earnings power or current asset-based value.
The P/E ratio is largely a function of non-operating accounting adjustments rather than core business performance, rendering it a poor metric for assessing the company's true value. Investors should monitor whether this valuation remains supported by the trust value or if it begins to compress as the window for a successful business combination narrows.
Based on reported figures, GRAF's ROIC has trended into negative territory, reaching -0.2% in 2025Q4, which reflects the structural inability of the shell vehicle to generate returns on invested capital while it remains in a dormant, pre-combination state without any operational revenue streams.
The negative return profile is an expected outcome for a SPAC that has yet to deploy its capital into an operating business. This trend highlights the erosion of shareholder value through persistent administrative overhead, which continues to consume the limited resources available to the sponsor.
As reported in financial statements, the current ratio has collapsed to 0.09 by 2025Q4, indicating that the company's unrestricted liquidity is insufficient to cover its short-term obligations, a development that warrants further investigation into the sponsor's ability to fund ongoing operations until a merger is finalized.
The extreme compression of the current ratio suggests that the entity is operating on a razor-thin margin of safety, leaving little room for unexpected legal or administrative costs. This liquidity constraint may force the sponsor to seek additional capital or accelerate a deal, potentially at the expense of favorable valuation terms.
As indicated by the company's financial disclosures, the P/E ratio is the most commonly misapplied metric for GRAF, as it obscures the reality that the entity generates no operational revenue and that reported net income is driven entirely by non-cash warrant liability fluctuations.
Analysts should instead focus on the 'Yield on Trust' and the 'Redemption Rate' as primary indicators of the company's health and potential for value creation. Relying on traditional earnings multiples in a pre-combination shell vehicle risks misinterpreting accounting noise for genuine economic progress.
Includes 30+ ratios · 6 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying GRAF stock.
Graf Global Corp.'s current P/E ratio is 38.6x. The historical average is 45.1x. This places it at the 67th percentile of its historical range.
Graf Global Corp.'s return on equity (ROE) is 3.5%. The historical average is 0.2%.
Based on historical data, Graf Global Corp. is trading at a P/E of 38.6x. This is at the 67th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.