Latest Ratios: P/E Ratio -9.5x · EV/EBITDA N/A · ROE -7.4%. (1996–2025 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 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $145M | $116M | $136M | $131M | $154M | $214M | $199M | $237M | $276M | $299M | $174M |
| Enterprise Value | $108M | $79M | $115M | $100M | $98M | $141M | $153M | $180M | $200M | $234M | $134M |
| P/E Ratio → | -9.54 | — | — | 30.30 | 18.82 | 32.13 | — | 13.64 | 12.85 | 19.89 | 13.17 |
| P/S Ratio | 0.81 | 0.65 | 0.73 | 0.57 | 0.61 | 0.91 | 1.17 | 0.90 | 0.92 | 1.23 | 0.77 |
| P/B Ratio | 0.73 | 0.58 | 0.66 | 0.59 | 0.69 | 0.90 | 0.86 | 0.99 | 1.24 | 1.47 | 0.94 |
| P/FCF | 8.69 | 6.96 | — | — | — | 7.19 | 21.46 | — | 18.21 | 11.53 | — |
| P/OCF | 8.24 | 6.60 | — | — | — | 6.66 | 18.21 | — | 13.13 | 9.84 | — |
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 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.44 | 0.61 | 0.44 | 0.39 | 0.60 | 0.90 | 0.68 | 0.67 | 0.96 | 0.59 |
| EV / EBITDA | — | — | — | 9.35 | 5.90 | 9.79 | — | 6.85 | 5.34 | 9.55 | 5.72 |
| EV / EBIT | — | — | — | 14.23 | 8.27 | 13.94 | — | 7.70 | 6.14 | 11.25 | 7.08 |
| EV / FCF | — | 4.75 | — | — | — | 4.74 | 16.53 | — | 13.21 | 9.03 | — |
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 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.5% | 18.5% | 20.2% | 24.7% | 25.7% | 23.9% | 21.4% | 29.3% | 30.5% | 29.0% | 31.0% |
| Operating Margin | -5.8% | -5.8% | -4.4% | 2.9% | 5.1% | 4.4% | -5.8% | 8.6% | 11.2% | 8.6% | 8.6% |
| Net Profit Margin | -8.5% | -8.5% | -8.9% | 1.9% | 3.3% | 2.9% | -3.7% | 6.6% | 7.1% | 6.2% | 5.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -7.4% | -7.4% | -7.7% | 2.0% | 3.6% | 2.9% | -2.7% | 7.6% | 10.1% | 7.8% | 7.4% |
| ROA | -5.7% | -5.7% | -5.9% | 1.5% | 2.6% | 2.2% | -2.1% | 5.7% | 7.2% | 5.7% | 5.3% |
| ROIC | -4.4% | -4.4% | -3.3% | 2.8% | 5.7% | 4.4% | -4.0% | 10.2% | 17.8% | 11.0% | 11.0% |
| ROCE | -4.7% | -4.7% | -3.6% | 2.8% | 5.3% | 4.1% | -4.0% | 9.5% | 15.4% | 10.3% | 10.5% |
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 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.06 | 0.05 | 0.04 | 0.05 | 0.05 | — | 0.01 | 0.01 | 0.01 |
| Debt / EBITDA | — | — | — | 1.06 | 0.53 | 0.76 | — | — | 0.04 | 0.06 | 0.06 |
| Net Debt / Equity | — | -0.19 | -0.10 | -0.14 | -0.25 | -0.31 | -0.20 | -0.24 | -0.34 | -0.32 | -0.21 |
| Net Debt / EBITDA | — | — | — | -2.84 | -3.31 | -5.06 | — | -2.17 | -2.02 | -2.64 | -1.69 |
| Debt / FCF | — | -2.21 | — | — | — | -2.45 | -4.93 | — | -5.00 | -2.50 | — |
| Interest Coverage | -135.73 | -135.73 | -16.04 | 24.95 | 440.93 | 422.71 | -113.93 | 377.19 | 325.96 | 228.65 | 263.29 |
Net cash position: cash ($49M) exceeds total debt ($12M)
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 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.33 | 4.33 | 4.78 | 4.52 | 3.66 | 3.57 | 4.98 | 4.79 | 3.24 | 3.48 | 3.77 |
| Quick Ratio | 1.58 | 1.58 | 1.58 | 1.64 | 1.53 | 1.75 | 2.01 | 2.07 | 1.66 | 1.78 | 1.75 |
| Cash Ratio | 0.94 | 0.94 | 0.70 | 0.76 | 0.87 | 1.04 | 1.15 | 1.04 | 0.89 | 0.94 | 0.71 |
| Asset Turnover | — | 0.68 | 0.69 | 0.78 | 0.82 | 0.71 | 0.58 | 0.87 | 0.95 | 0.87 | 0.90 |
| Inventory Turnover | 1.02 | 1.02 | 0.97 | 1.09 | 1.19 | 1.21 | 0.90 | 1.25 | 1.52 | 1.44 | 1.34 |
| Days Sales Outstanding | — | 57.09 | 71.75 | 64.03 | 55.95 | 66.14 | 59.23 | 59.98 | 66.06 | 75.04 | 78.10 |
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 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 1.5% | 3.2% | 2.6% | 1.7% | 1.7% | 1.4% | 1.1% | 0.9% | 1.3% |
| Payout Ratio | — | — | — | 94.4% | 47.7% | 54.3% | — | 18.3% | 13.5% | 17.1% | 17.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 3.3% | 5.3% | 3.1% | — | 7.3% | 7.8% | 5.0% | 7.6% |
| FCF Yield | 11.5% | 14.4% | — | — | — | 13.9% | 4.7% | — | 5.5% | 8.7% | — |
| Buyback Yield | 0.0% | 0.0% | 1.1% | 3.5% | 1.9% | 0.0% | 3.5% | 0.0% | 0.2% | 0.1% | 0.1% |
| Total Shareholder Yield | 0.0% | 0.0% | 2.6% | 6.7% | 4.4% | 1.7% | 5.2% | 1.4% | 1.2% | 1.0% | 1.4% |
| Shares Outstanding | — | $6M | $6M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $7M |
Cyclical demand and margin compression
Based on recent financial data, Hurco trades at a P/S of 0.82 and a P/B of 0.73, suggesting that the market is pricing the company as a liquidation play rather than a growth-oriented industrial entity, given the persistent negative earnings and lack of clear recovery catalysts.
The forward P/E of 10.24 implies that investors are banking on a return to profitability that remains elusive in the current industrial cycle. Compared to peers like FormFactor or MKS Inc., which command significantly higher multiples, Hurco's valuation appears to reflect a deep discount for its lack of recurring revenue and cyclical sensitivity.
As reported in quarterly filings, Hurco's ROIC has remained consistently negative or near zero over the last ten quarters, with a 2026Q2 figure of -0.2%, indicating that the company is currently failing to generate returns that exceed its cost of capital during this industrial downturn.
The inability to maintain positive ROIC suggests that the company's manufacturing footprint and fixed cost base are currently misaligned with demand. Investors should monitor whether management can rationalize these assets to improve capital efficiency, as the current trend indicates a decay in shareholder value creation.
According to the latest financial statements, Hurco's cash conversion cycle remains extended at 321 days as of 2026Q2, primarily driven by a high days-inventory-outstanding (DIO) of 336 days, which highlights significant inefficiencies in managing stock levels during periods of softening global industrial demand.
The high DIO relative to historical norms suggests that the company is carrying substantial finished goods inventory that may be at risk of obsolescence. This working capital drag effectively ties up cash that could otherwise be deployed more productively, further exacerbating the company's struggle with negative operating margins.
Based on the provided balance sheet data, Hurco maintains a strong current ratio of 4.07 as of 2026Q2, providing a substantial buffer that allows the company to absorb ongoing operational losses without immediate reliance on external financing or debt markets to sustain its core business activities.
While the quick ratio of 1.55 is more conservative, it still indicates a comfortable ability to meet short-term obligations. This liquidity position is a critical defensive feature, though it warrants further investigation into how long this cash cushion can persist if the current negative earnings trend continues unabated.
Investors frequently misapply the P/E ratio to Hurco, which obscures the company's true economic reality because the metric is rendered meaningless by persistent net losses and fails to account for the significant cash-to-market-cap ratio that characterizes this specific industrial business model.
A more appropriate metric for this company would be a sum-of-the-parts valuation that separates the cash and real estate assets from the core machine tool business. Relying on P/E ignores the potential for the company to be valued as a 'deep value' asset where the underlying tangible book value provides a floor that earnings-based multiples fail to capture.
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Quick answers to the most common questions about buying HURC stock.
Hurco Companies, Inc.'s current P/E ratio is -9.5x. The historical average is 14.4x.
Hurco Companies, Inc.'s return on equity (ROE) is -7.4%. The historical average is 9.9%.
Based on historical data, Hurco Companies, Inc. is trading at a P/E of -9.5x. Compare with industry peers and growth rates for a complete picture.
Hurco Companies, Inc. has 18.5% gross margin and -5.8% operating margin.