Latest Ratios: P/E Ratio -3.5x · EV/EBITDA N/A · ROE -12.2%. (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 | $63M | $91M | $86M | $190M | $164M | $601M | $153M | $96M | $56M | $44M | $35M |
| Enterprise Value | $-64376632 | $-36430120 | $-47320540 | $179M | $152M | $574M | $165M | $105M | $47M | $28M | $35M |
| P/E Ratio → | -3.47 | — | 1.17 | — | — | 1273.30 | — | — | — | — | — |
| P/S Ratio | 2.95 | 4.25 | 3.24 | 4.38 | 1.45 | 5.79 | 1.76 | 1.14 | 0.72 | 0.74 | 0.62 |
| P/B Ratio | 0.45 | 0.65 | 0.56 | 2.56 | 2.18 | 8.06 | 4.47 | 2.70 | 1.68 | 1.87 | 9.25 |
| P/FCF | — | — | — | — | — | — | — | 694.13 | — | — | — |
| P/OCF | — | — | — | 164.29 | — | 489.01 | — | 224.33 | — | — | — |
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 | — | -1.70 | -1.78 | 4.12 | 1.35 | 5.53 | 1.90 | 1.26 | 0.61 | 0.47 | 0.63 |
| EV / EBITDA | — | — | — | — | 78.37 | 920.13 | — | 30.35 | 36.47 | — | — |
| EV / EBIT | — | — | — | — | — | 269.43 | — | 1145.90 | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | 763.93 | — | — | — |
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 | 6.1% | 6.1% | 1.3% | 13.8% | 36.3% | 35.7% | 38.7% | 43.8% | 42.7% | 36.8% | 42.2% |
| Operating Margin | -96.0% | -96.0% | -105.0% | -31.1% | -0.3% | -1.3% | -4.0% | -0.1% | -2.4% | -7.7% | -20.0% |
| Net Profit Margin | -83.8% | -83.8% | 281.0% | -12.6% | -0.3% | 1.6% | -5.9% | -1.4% | -6.0% | -13.5% | -24.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -12.2% | -12.2% | 65.5% | -7.3% | -0.5% | 3.0% | -14.7% | -3.3% | -16.5% | -59.3% | -154.0% |
| ROA | -11.4% | -11.4% | 54.2% | -5.1% | -0.4% | 1.8% | -6.7% | -1.6% | -8.0% | -17.7% | -29.0% |
| ROIC | -92.6% | -92.6% | -50.1% | -16.0% | -0.4% | -2.1% | -5.7% | -0.2% | -8.7% | -58.1% | -84.6% |
| ROCE | -13.9% | -13.9% | -23.6% | -16.7% | -0.4% | -2.4% | -9.0% | -0.3% | -5.6% | -19.2% | -40.3% |
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 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.01 | 0.16 | 0.06 | 0.03 | 0.69 | 0.54 | 0.06 | 0.12 | 2.61 |
| Debt / EBITDA | — | — | — | — | 2.35 | 3.54 | — | 5.47 | 1.54 | — | — |
| Net Debt / Equity | — | -0.91 | -0.87 | -0.15 | -0.16 | -0.35 | 0.36 | 0.27 | -0.26 | -0.68 | 0.18 |
| Net Debt / EBITDA | — | — | — | — | -6.24 | -42.22 | — | 2.77 | -6.81 | — | — |
| Debt / FCF | — | — | — | — | — | — | — | 69.80 | — | — | — |
| Interest Coverage | — | — | — | -31.34 | -1.03 | 4.41 | -2.44 | 0.10 | -2.00 | -2.23 | -4.71 |
Net cash position: cash ($129M) exceeds total debt ($856000)
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 | 15.19 | 15.19 | 19.20 | 2.58 | 3.21 | 3.49 | 1.29 | 1.34 | 1.43 | 2.09 | 1.40 |
| Quick Ratio | 14.40 | 14.40 | 18.26 | 2.17 | 1.97 | 2.53 | 0.80 | 0.87 | 0.97 | 1.56 | 0.89 |
| Cash Ratio | 13.69 | 13.69 | 17.04 | 0.76 | 0.71 | 1.37 | 0.27 | 0.27 | 0.37 | 0.90 | 0.40 |
| Asset Turnover | — | 0.14 | 0.16 | 0.38 | 1.10 | 1.07 | 1.10 | 1.13 | 1.18 | 1.17 | 1.38 |
| Inventory Turnover | 2.72 | 2.72 | 3.52 | 2.96 | 2.49 | 3.35 | 2.62 | 2.92 | 3.29 | 3.42 | 2.80 |
| Days Sales Outstanding | — | 69.15 | 57.76 | 60.27 | 80.25 | 70.22 | 79.48 | 80.03 | 69.84 | 74.44 | 61.28 |
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 | — | — | — | 0.7% | — | — | 0.7% | 1.1% | 1.5% | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 85.8% | — | — | 0.1% | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | 0.1% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 2.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.2% | 0.0% | 0.6% |
| Total Shareholder Yield | 0.0% | 0.0% | 2.2% | 0.7% | 0.0% | 0.0% | 0.7% | 1.1% | 2.7% | 0.0% | 0.6% |
| Shares Outstanding | — | $24M | $24M | $23M | $23M | $21M | $18M | $17M | $16M | $13M | $11M |
Operational cash burn rate
As reported in recent financial filings, Identiv trades at a price-to-sales multiple of 2.93, a valuation that appears heavily influenced by its $128.6 million cash position rather than the underlying growth prospects of its currently loss-making, hardware-centric IoT business model following the recent Premises segment divestiture.
The market's pricing suggests a valuation floor anchored by net cash, effectively ignoring the lack of a clear path to profitability for the remaining Identity segment. Investors should monitor whether this cash buffer is deployed for accretive acquisitions or if it continues to be eroded by persistent operating losses.
Based on the company's reported figures, ROIC has remained consistently negative, reaching -24.1% in 2026Q1, which indicates that the firm is failing to generate adequate returns on its capital base despite the significant liquidity injection from the recent sale of its higher-margin Premises business unit.
The inability to achieve positive returns on capital suggests that the current hardware-heavy cost structure lacks the necessary scale or pricing power to compete effectively. This trend warrants further investigation into whether the company's specialized RFID engineering can ever achieve the margins required to justify its capital intensity.
According to quarterly data, Identiv's cash conversion cycle remains highly erratic, fluctuating between 90 and 363 days over the last ten quarters, reflecting significant challenges in managing inventory and accounts receivable as the company pivots toward a new, lower-volume transactional model for its RFID-enabled IoT solutions.
The high inventory days, which reached 120 in 2026Q1, suggest potential risks regarding product obsolescence in the fast-moving RFID market. This inefficiency in working capital management appears to be a structural drag on the company's ability to optimize its cash flow during this critical period of corporate restructuring.
As evidenced by the most recent balance sheet, Identiv maintains a current ratio of 14.87, a figure that provides a substantial, albeit temporary, safety net against the company's ongoing operational cash burn, which has left the firm with minimal reliance on external debt financing at this time.
While the liquidity position is technically strong, it is a byproduct of asset liquidation rather than operational success. Investors should monitor the rate of cash depletion, as the current ratio may provide a false sense of security if the core business fails to reach a sustainable scale.
The price-to-book ratio of 0.44 is frequently misapplied to Identiv, as it obscures the reality that the company's book value is heavily comprised of cash from divestitures rather than productive, income-generating assets that would typically justify a higher valuation in a technology hardware business model.
Using P/B as a valuation anchor for Identiv is misleading because it ignores the massive accumulated deficit and the lack of operational profitability. Analysts should instead focus on the cash burn rate and the potential for the remaining business to achieve positive free cash flow, as book value here is a poor proxy for future earnings power.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying INVE stock.
Identiv, Inc.'s current P/E ratio is -3.5x. The historical average is 50.7x.
Identiv, Inc.'s return on equity (ROE) is -12.2%. The historical average is -28.7%.
Based on historical data, Identiv, Inc. is trading at a P/E of -3.5x. Compare with industry peers and growth rates for a complete picture.
Identiv, Inc. has 6.1% gross margin and -96.0% operating margin.