Latest Ratios: P/E Ratio -153.6x · EV/EBITDA N/A · ROE -2.8%. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $5.1B | $9.4B | $11.0B | $6.7B | — | — |
| Enterprise Value | $4.2B | $8.5B | $10.2B | $6.1B | — | — |
| P/E Ratio → | -153.64 | — | — | — | — | — |
| P/S Ratio | 4.14 | 7.65 | 11.72 | 9.67 | — | — |
| P/B Ratio | 4.11 | 7.89 | 10.62 | 7.38 | — | — |
| P/FCF | 26.98 | 49.83 | 73.85 | 61.33 | — | — |
| P/OCF | 23.45 | 43.33 | 66.19 | 56.53 | — | — |
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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.89 | 10.83 | 8.68 | — | — |
| EV / EBITDA | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — |
| EV / FCF | — | 44.85 | 68.28 | 55.09 | — | — |
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 |
|---|---|---|---|---|---|---|
| Gross Margin | 74.7% | 74.7% | 76.4% | 74.5% | 72.9% | 70.9% |
| Operating Margin | -5.5% | -5.5% | -9.0% | -47.4% | -11.6% | -27.3% |
| Net Profit Margin | -2.6% | -2.6% | -4.9% | -44.2% | -10.4% | -27.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -2.8% | -2.8% | -4.7% | -33.7% | — | — |
| ROA | -2.2% | -2.2% | -3.9% | -35.9% | -9.0% | -17.1% |
| ROIC | -22.2% | -22.2% | -29.1% | -108.9% | — | — |
| ROCE | -5.7% | -5.7% | -8.3% | -44.0% | -11.8% | -20.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.10 | 0.10 | 0.05 | 0.06 | — | — |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.79 | -0.80 | -0.75 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | -4.98 | -5.57 | -6.24 | — | — |
| Interest Coverage | — | — | — | — | — | -9883.25 |
Net cash position: cash ($1.1B) exceeds total debt ($121M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 4.27 | 4.27 | 4.90 | 6.15 | 5.03 | 4.63 |
| Quick Ratio | 4.27 | 4.27 | 4.90 | 6.15 | 5.03 | 4.63 |
| Cash Ratio | 3.77 | 3.77 | 4.41 | 5.65 | 4.54 | 4.26 |
| Asset Turnover | — | 0.78 | 0.74 | 0.64 | 0.75 | 0.63 |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | 17.96 | 16.78 | 12.07 | 8.28 | 7.90 |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | 3.7% | 2.0% | 1.4% | 1.6% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $291M | $266M | $243M | $252M | $252M |
SMS carrier fee volatility
Based on current market data, Klaviyo trades at a forward P/E of 17.55, which appears to price in significant future earnings expansion relative to its historical losses, as reported in recent financial filings and consensus estimates for the upcoming fiscal periods.
The current P/S multiple of 3.65 suggests investors are paying a premium for the company's data-first architecture compared to legacy marketing software providers. This valuation warrants caution, as it assumes the company can successfully transition from a high-growth, loss-making entity to a sustainably profitable platform without sacrificing its competitive moat.
According to the latest quarterly reports, Klaviyo's ROIC has struggled to break into positive territory, hovering at 0.5% in 2026Q1, which indicates that the company is still in the early stages of generating meaningful returns on its invested capital base.
The persistent negative ROIC trend observed over the last ten quarters highlights the heavy investment required to scale the platform's infrastructure and customer base. Investors should monitor whether the recent shift to positive operating margins can translate into a sustained improvement in capital efficiency as the business matures.
As reported in recent financial statements, Klaviyo maintains a lean asset turnover ratio of 0.23, reflecting an asset-light software model that relies on high-margin subscription revenue rather than physical inventory to drive its core operational performance.
The company's ability to maintain a consistent DSO, which averaged between 10 and 18 days over the last ten quarters, suggests strong leverage over its merchant base and efficient collection processes. This efficiency is critical for a business model that must balance high-volume SMS carrier costs with timely subscription billing.
Based on the 2026Q1 balance sheet, Klaviyo holds a current ratio of 4.23, providing a substantial liquidity cushion that appears more than adequate to navigate potential volatility in e-commerce spending or unexpected shifts in carrier-related variable costs.
This strong liquidity position is a key defensive feature, allowing the company to fund its ongoing R&D and market expansion efforts without relying on external debt financing. The lack of significant debt obligations, as evidenced by the 0.10 debt-to-equity ratio, further reinforces the company's financial stability in a fluctuating macro environment.
Investors frequently misapply standard P/E multiples to Klaviyo, which obscures the company's true earning power by failing to account for the significant non-cash impact of stock-based compensation on reported net income figures, as noted in recent SEC filings.
Because the company is in a high-growth phase, traditional P/E ratios are often misleading and fail to capture the underlying cash-generating potential of the business. Analysts should instead prioritize free cash flow margins and adjusted EBITDA to better evaluate the company's progress toward long-term profitability.
Includes 30+ ratios · 5 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying KVYO stock.
Klaviyo, Inc.'s current P/E ratio is -153.6x. This places it at the 50th percentile of its historical range.
Klaviyo, Inc.'s return on equity (ROE) is -2.8%. The historical average is -13.8%.
Based on historical data, Klaviyo, Inc. is trading at a P/E of -153.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Klaviyo, Inc. has 74.7% gross margin and -5.5% operating margin.