Latest Ratios: P/E Ratio -1.0x · EV/EBITDA N/A · ROE -27.1%. (2013–2025 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 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $107M | $64M | $1.4B | $7.3B | $6.2B | $19.1B | $23.7B | $30.1B | $26.0B | $21.3B | $15.3B |
| Enterprise Value | $100M | $56M | $1.4B | $7.3B | $6.2B | $19.1B | $23.7B | $30.1B | $26.0B | $21.3B | $15.3B |
| P/E Ratio → | -0.99 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 17.85 | 10.59 | 2618.59 | 11383.78 | 7897.63 | 36639.46 | 35864.55 | 20131.00 | 54476.93 | — | — |
| P/B Ratio | 0.13 | 0.21 | 1285.80 | 3119.64 | 762.54 | 1699.16 | 6124.12 | 5161.26 | 2642.58 | — | — |
| 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 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.38 | 2616.52 | 11375.82 | 7879.29 | 36618.38 | 35859.65 | 20127.77 | 54423.41 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| 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 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 91.7% | 91.7% | -11.9% | 9.5% | 41.2% | 42.9% | -13.6% | 39.2% | 87.7% | — | — |
| Operating Margin | -351.0% | -351.0% | -2673.7% | -1929.8% | -1971.5% | -3475.5% | -2129.5% | -1604.0% | -5580.5% | — | — |
| Net Profit Margin | -679.6% | -679.6% | -2258.1% | -1374.2% | -1788.1% | -3473.6% | -2137.7% | -653.8% | -5988.1% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -27.1% | -27.1% | -688.9% | -168.6% | -145.0% | -239.7% | -291.2% | -124.7% | -2421.6% | — | — |
| ROA | -26.6% | -26.6% | -209.0% | -70.9% | -89.7% | -175.6% | -167.3% | -51.2% | -165.3% | -516.6% | -261.8% |
| ROIC | -10.8% | -10.8% | — | — | — | -3074.9% | -1284.3% | — | — | — | — |
| ROCE | -14.0% | -14.0% | -386.6% | -117.7% | -116.0% | -233.0% | -263.9% | -292.7% | -2256.8% | — | -1078.3% |
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 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.01 | 0.02 | 0.01 | 0.00 | 0.02 | 0.11 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.02 | -1.02 | -2.18 | -1.77 | -0.98 | -0.84 | -0.83 | -2.60 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -63.39 | -63.39 | -815.47 | — | -17.70 | — | — | — | — | — | -145.67 |
Net cash position: cash ($7M) exceeds total debt ($0)
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 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.33 | 10.33 | 1.58 | 3.88 | 8.40 | 4.75 | 1.93 | 1.90 | 1.50 | 0.46 | 1.73 |
| Quick Ratio | 9.96 | 9.96 | 1.08 | 3.64 | 8.10 | 4.57 | 1.77 | 1.75 | 1.48 | 0.46 | 1.73 |
| Cash Ratio | 2.41 | 2.41 | 0.50 | 2.76 | 7.32 | 4.15 | 1.37 | 1.44 | 1.42 | 0.39 | 1.13 |
| Asset Turnover | — | 0.02 | 0.15 | 0.08 | 0.05 | 0.04 | 0.10 | 0.14 | 0.02 | — | — |
| Inventory Turnover | 0.45 | 0.45 | 0.53 | 1.28 | 0.79 | 0.63 | 1.93 | 1.52 | 0.15 | — | — |
| Days Sales Outstanding | — | — | 445.72 | 361.03 | 159.08 | 175.51 | 127.00 | 140.05 | 209.99 | — | — |
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 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $22M | $3M | $1M | $539886 | $98270 | $47910 | $30116 | $26040 | $21294 | $15320 |
Liquidity and dilution risk
Based on reported financial data, HSDT trades at a price-to-sales multiple of 16.79, which suggests that investors are pricing in aggressive future market penetration rather than current operational performance, especially when compared to the more modest valuation multiples observed in broader medical technology peer groups.
This elevated P/S ratio implies that the market is valuing the company as a high-growth biotech-adjacent entity rather than a traditional hardware manufacturer. Investors should monitor whether this valuation can be sustained if the company fails to achieve broader reimbursement coverage or if revenue growth decelerates from its current high-base trajectory.
As reported in recent financial statements, HSDT maintains a robust gross margin of 95.0%, yet this figure is significantly offset by deep operating losses, indicating that the company's current scale is insufficient to absorb the fixed costs associated with its specialized sales and research infrastructure.
While the high gross margin suggests strong pricing power for the PoNS device, the persistent negative operating margins indicate that the business model is not yet self-sustaining. The lack of profitability warrants further investigation into whether the company can achieve operating leverage before its current liquidity is exhausted.
According to quarterly filings, the company's cash conversion cycle remains highly volatile, with DPO figures reaching 973 days in 2026Q1, suggesting that HSDT relies heavily on extended payment terms with suppliers to manage its limited cash position during this intensive commercialization phase.
The extreme fluctuations in working capital metrics appear to reflect the company's early-stage operational status rather than structural efficiency. Investors should be cautious, as these extended payment terms may not be sustainable if suppliers demand more favorable terms as the company attempts to scale its manufacturing and distribution.
Based on the most recent quarterly data, the company's cash position has declined to $4.4 million, which, when viewed alongside a negative operating margin of 48.3%, suggests a vulnerable liquidity profile that may necessitate further dilutive capital raises to support ongoing operations over the next twelve months.
The current ratio of 9.90 may provide a misleading sense of security, as it is heavily influenced by the company's current asset structure rather than immediate cash availability. The rapid depletion of cash reserves indicates that the company's survival is contingent upon either immediate commercial success or external financing.
Analysts frequently misapply the 1057% revenue growth rate as a proxy for long-term viability, yet this metric obscures the reality that the company has not achieved standard-of-care status, making it a poor indicator of future cash flow generation or sustainable market adoption for the PoNS device.
Instead of focusing on top-line growth, investors should prioritize the 'prescription pull-through' rate and the establishment of dedicated reimbursement codes as more reliable indicators of business health. Relying on revenue growth alone ignores the significant 'last mile' challenges inherent in integrating device-assisted therapy into standard physical therapy protocols.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying HSDT stock.
Solana Company's current P/E ratio is -1.0x. This places it at the 50th percentile of its historical range.
Solana Company's return on equity (ROE) is -27.1%. The historical average is -166.0%.
Based on historical data, Solana Company is trading at a P/E of -1.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Solana Company has 91.7% gross margin and -351.0% operating margin.