Latest Ratios: P/E Ratio -34.6x · EV/EBITDA 15.6x · ROE -8.4%. (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 | $238M | $243M | $191M | $44M | $398M | $217M | — | — |
| Enterprise Value | $153M | $158M | $191M | $72M | $399M | $243M | — | — |
| P/E Ratio → | -34.65 | — | — | 3.29 | — | — | — | — |
| P/S Ratio | 2.35 | 2.40 | 2.56 | 0.69 | 17.76 | 5.15 | — | — |
| P/B Ratio | 2.01 | 1.24 | 2.61 | 0.82 | 13.95 | 4.73 | — | — |
| P/FCF | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | 133.92 | — | — |
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 | — | 1.56 | 2.56 | 1.11 | 17.80 | 5.76 | — | — |
| EV / EBITDA | 15.62 | 16.12 | — | 3.93 | — | 413.30 | — | — |
| EV / EBIT | 18.04 | 18.61 | — | 4.04 | — | — | — | — |
| 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 | 33.4% | 33.4% | 50.0% | 69.1% | 37.2% | 37.3% | 40.9% | 46.3% |
| Operating Margin | 8.4% | 8.4% | -89.6% | 26.4% | -386.0% | -19.3% | -12.5% | -1.1% |
| Net Profit Margin | -11.1% | -11.1% | -86.8% | 20.9% | -390.6% | -20.2% | -13.0% | -1.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -8.4% | -8.4% | -101.8% | 32.6% | -235.1% | -17.2% | -10.6% | -0.9% |
| ROA | -5.3% | -5.3% | -48.1% | 14.9% | -109.3% | -9.1% | -6.3% | -0.6% |
| ROIC | 6.9% | 6.9% | -64.6% | 23.0% | -128.1% | -8.6% | -6.3% | -0.5% |
| ROCE | 6.1% | 6.1% | -95.9% | 34.8% | -184.2% | -13.5% | -8.6% | -0.7% |
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 | 0.07 | 0.07 | 0.30 | 0.61 | 0.84 | 0.78 | 0.55 | 0.41 |
| Debt / EBITDA | 1.49 | 1.49 | — | 1.80 | — | 61.01 | 11.62 | 4.02 |
| Net Debt / Equity | — | -0.43 | 0.01 | 0.51 | 0.03 | 0.57 | 0.32 | 0.11 |
| Net Debt / EBITDA | -8.66 | -8.66 | — | 1.51 | — | 44.12 | 6.78 | 1.06 |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | 15.62 | 15.62 | -89.25 | 21.79 | -103.29 | -12.19 | -12.00 | -0.20 |
Net cash position: cash ($100M) exceeds total debt ($15M)
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 | 3.33 | 3.33 | 1.68 | 1.43 | 1.69 | 1.47 | 1.92 | 2.06 |
| Quick Ratio | 3.33 | 3.33 | 1.68 | 1.43 | 1.69 | 1.47 | 1.92 | 2.05 |
| Cash Ratio | 1.49 | 1.49 | 0.50 | 0.63 | 1.09 | 0.50 | 0.69 | 0.85 |
| Asset Turnover | — | 0.37 | 0.49 | 0.56 | 0.34 | 0.44 | 0.49 | 0.41 |
| Inventory Turnover | — | — | 7187.11 | 864.17 | 205.04 | 173.88 | 299.15 | 133.08 |
| Days Sales Outstanding | — | 404.70 | 295.27 | 201.80 | 251.09 | 315.05 | 280.25 | 296.63 |
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 | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 30.4% | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 1.5% | 1.4% | 1.9% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 1.5% | 1.4% | 1.9% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $22M | $11M | $8M | $5M | $2M | $2M | $2M |
Project-based revenue volatility
Based on current market data, Gorilla Technology trades at a price-to-sales ratio of 2.32, which appears to discount the company as a systems integrator rather than a high-margin software firm, given the lack of a positive P/E ratio and the inherent lumpiness of its government-focused revenue.
The absence of a forward P/E ratio suggests that the market remains skeptical of the company's ability to achieve consistent profitability in the near term. Investors should note that the current EV/EBITDA of 15.36 may be misleadingly high if the company fails to transition its project-based revenue into a recurring SaaS model, as the valuation likely relies on speculative growth rather than current earnings power.
As reported in recent financial statements, the company's ROIC has fluctuated significantly, reaching a negative 16.4% in 2026Q1, which highlights a persistent inability to generate positive returns on invested capital compared to the more stable performance observed in earlier periods like 2024Q4.
The volatility in ROIC suggests that the company's capital allocation is heavily influenced by the timing of large-scale infrastructure projects rather than operational efficiency. This trend warrants further investigation into whether the company can ever achieve a positive spread between its return on capital and its cost of capital, given the high variable costs associated with its current business model.
According to quarterly filings, the company's DSO has remained elevated, peaking at 323 days in 2026Q1, which indicates significant friction in converting project-based revenue into cash and suggests that the firm lacks leverage over its municipal and industrial clients regarding payment terms.
The extended collection cycle is a primary driver of the company's cash flow volatility and necessitates a large cash buffer to sustain operations. Investors should monitor whether management can optimize these receivables, as the current cycle appears to be a structural drag on the company's ability to self-fund its growth initiatives.
Based on reported figures, the company maintains a minimal debt-to-equity ratio of 0.09% as of 2026Q1, providing a fortress-like balance sheet that serves as a critical buffer against the ongoing operational losses and the inherent risks of its project-heavy revenue model.
While the low leverage is a positive indicator of financial stability, it also suggests that the company has not yet utilized debt to accelerate its growth, likely due to the lack of consistent operating cash flow to service interest payments. This conservative stance appears appropriate given the geopolitical and project-based risks that could otherwise threaten the company's solvency.
The most commonly misapplied metric for Gorilla Technology is the P/S ratio, which often leads investors to incorrectly categorize the firm as a high-growth software company, thereby obscuring the reality that its 33.42% gross margin is more indicative of a project-based systems integrator.
Investors should instead focus on gross margin trends and cash conversion cycles to assess the true earning power of the business. Relying on software-like valuation multiples ignores the reality that the company's revenue is tied to hardware-intensive deployments, which carry significantly higher costs and lower scalability than pure-play SaaS models.
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Quick answers to the most common questions about buying GRRR stock.
Gorilla Technology Group Inc.'s current P/E ratio is -34.6x. The historical average is 3.3x.
Gorilla Technology Group Inc.'s current EV/EBITDA is 15.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.0x.
Gorilla Technology Group Inc.'s return on equity (ROE) is -8.4%. The historical average is -48.8%.
Based on historical data, Gorilla Technology Group Inc. is trading at a P/E of -34.6x. Compare with industry peers and growth rates for a complete picture.
Gorilla Technology Group Inc. has 33.4% gross margin and 8.4% operating margin.
Gorilla Technology Group Inc.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.