Latest Ratios: P/E Ratio -4.3x · EV/EBITDA N/A · ROE -82.2%. (2011–2025 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 | $42M | $28M | $62M | $48M | $66M | $72M | $29M | $4M | $3M | $19M | $32M |
| Enterprise Value | $37M | $23M | $46M | $40M | $50M | $49M | $26M | $1M | $217549 | $9M | $27M |
| P/E Ratio → | -4.27 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1125.06 | 748.20 | 716.59 | 241.88 | 324.15 | 124.23 | 67.54 | — | — | 15.49 | 19.35 |
| P/B Ratio | 5.74 | 3.58 | 3.45 | 4.78 | 3.68 | 2.97 | 7.55 | 0.98 | 0.76 | 1.61 | 4.35 |
| 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 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 596.43 | 538.09 | 200.28 | 245.05 | 84.60 | 60.57 | — | — | 7.22 | 16.76 |
| 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 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -60.1% | -60.1% | -8.6% | 19.2% | — | — | — | — | — | -84.9% | -19.1% |
| Operating Margin | -28979.0% | -28979.0% | -12868.7% | -5205.4% | -3612.4% | -841.3% | -950.2% | — | — | -854.0% | -676.4% |
| Net Profit Margin | -28038.6% | -28038.6% | -12109.2% | -5005.3% | -3536.9% | -827.6% | -1820.5% | — | — | -852.5% | -674.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -82.2% | -82.2% | -74.6% | -71.2% | -34.2% | -34.1% | -202.0% | -92.7% | -97.1% | -109.3% | -91.8% |
| ROA | -70.8% | -70.8% | -65.0% | -62.9% | -31.8% | -30.8% | -149.9% | -68.8% | -80.1% | -91.6% | -77.7% |
| ROIC | -352.7% | -352.7% | -387.4% | -429.1% | -351.1% | -338.0% | -314.2% | -191.8% | -215.7% | -330.9% | -352.8% |
| ROCE | -77.2% | -77.2% | -72.4% | -68.4% | -33.2% | -32.5% | -89.9% | -64.9% | -50.2% | -105.4% | -91.1% |
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 | 0.05 | 0.05 | 0.03 | 0.02 | 0.01 | 0.01 | 0.05 | 0.07 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.73 | -0.86 | -0.82 | -0.90 | -0.95 | -0.78 | -0.72 | -0.71 | -0.86 | -0.58 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | -381.78 | -1542.65 | -730.08 | — | — | — |
Net cash position: cash ($6M) exceeds total debt ($403335)
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 | 6.72 | 6.72 | 29.06 | 9.79 | 37.62 | 43.19 | 5.23 | 4.82 | 4.11 | 7.53 | 4.11 |
| Quick Ratio | 6.71 | 6.71 | 28.89 | 9.70 | 37.62 | 43.19 | 5.23 | 4.82 | 4.11 | 7.36 | 3.27 |
| Cash Ratio | 6.30 | 6.30 | 28.25 | 9.10 | 36.38 | 42.68 | 4.79 | 4.47 | 2.86 | 7.01 | 2.81 |
| Asset Turnover | — | 0.00 | 0.00 | 0.02 | 0.01 | 0.02 | 0.08 | — | — | 0.09 | 0.18 |
| Inventory Turnover | 6.23 | 6.23 | 0.97 | 1.97 | — | — | — | — | — | 8.92 | 1.56 |
| Days Sales Outstanding | — | 232.19 | 2.94 | 128.48 | 118.40 | 147.71 | 145.18 | — | — | 1.69 | 84.86 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.4% | 0.2% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.4% | 0.2% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | 0.0% |
| Shares Outstanding | — | $9M | $8M | $6M | $6M | $6M | $4M | $2M | $1M | $1M | $954838 |
Capital structure dilution risk
According to recent market data, IPWR trades at a price-to-sales ratio of 1,165.97, a figure that suggests investors are pricing the company as a high-growth technology option rather than a traditional industrial manufacturer, reflecting extreme optimism regarding the future commercialization of its proprietary B-TRAN semiconductor architecture.
The absence of meaningful P/E or EV/EBITDA multiples confirms that the market is currently ignoring near-term earnings in favor of long-term TAM capture. Investors should monitor whether this valuation premium can be sustained if the company fails to transition from evaluation-kit revenue to high-volume product sales within the next several quarters.
Based on reported financial statements, the company's ROIC has remained deeply negative, fluctuating between -68.6% and -140.9% over the last ten quarters, which indicates that the capital deployed into B-TRAN development has yet to generate any productive economic return for shareholders or the business itself.
This persistent decay in returns on invested capital is a direct consequence of the company's pre-commercial status, where R&D expenditures significantly outweigh the limited revenue generated from engineering services. The trend suggests that until the company achieves a scalable fabless manufacturing model, capital efficiency will likely remain constrained by the high fixed costs of semiconductor innovation.
As reported in quarterly filings, the company's cash conversion cycle has exhibited extreme volatility, swinging from a high of 3,728 days in 2024Q2 to negative figures in subsequent periods, which highlights the erratic nature of project-based revenue collection and the lack of a standardized operating rhythm.
The wide fluctuations in days sales outstanding and days inventory outstanding suggest that the company's working capital management is currently dictated by the timing of individual customer milestones rather than a repeatable sales process. This inconsistency warrants further investigation, as it complicates the ability to forecast cash requirements and operational efficiency improvements.
According to the latest balance sheet data, the company maintains a current ratio of 11.22, which appears superficially strong but is primarily a function of the remaining cash reserves being depleted to fund ongoing operating losses rather than a result of robust, self-sustaining working capital generation.
While the high current ratio provides a temporary cushion, the rapid decline in cash and equivalents suggests that the company's liquidity position is vulnerable to continued cash burn. Investors should monitor the cash runway closely, as the current trajectory may necessitate further dilutive equity financing to maintain operations.
Based on an analysis of the company's business model, the most commonly misapplied metric is the price-to-sales ratio, which obscures the fact that current revenue is derived from non-recurring engineering fees rather than repeatable product sales, leading to a potentially distorted view of the company's true commercial progress.
Analysts should instead focus on metrics such as the number of active design-in programs or deferred revenue balances, which provide a more accurate reflection of future commercial viability. Relying on traditional revenue multiples for a pre-commercial semiconductor firm risks mispricing the company's transition from a research-heavy entity to a potential IP licensor.
Includes 30+ ratios · 15 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying IPWR stock.
Ideal Power Inc.'s current P/E ratio is -4.3x. This places it at the 50th percentile of its historical range.
Ideal Power Inc.'s return on equity (ROE) is -82.2%. The historical average is -89.1%.
Based on historical data, Ideal Power Inc. is trading at a P/E of -4.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Ideal Power Inc. has -60.1% gross margin and -28979.0% operating margin.