Latest Ratios: P/E Ratio -1.6x · EV/EBITDA N/A · ROE -70.4%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $67M | $70M | $10M | $13M | $76M | $751M | — | — |
| Enterprise Value | $24M | $27M | $4M | $14M | $84M | $737M | — | — |
| P/E Ratio → | -1.60 | — | — | — | — | — | — | — |
| P/S Ratio | 286.24 | 298.97 | 49.93 | 9.12 | 20.74 | 249.71 | — | — |
| P/B Ratio | 0.67 | 0.86 | 0.67 | 0.46 | 0.80 | 4.45 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 113.90 | 19.93 | 9.35 | 23.12 | 244.99 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -137.8% | -137.8% | -285.1% | -946.4% | -139.4% | -21.0% | 48.8% | 82.7% |
| Operating Margin | -13618.5% | -13618.5% | -17736.6% | -5995.6% | -2709.3% | -2102.9% | -1677.1% | -0.0% |
| Net Profit Margin | -14574.2% | -14574.2% | -17554.5% | -5951.2% | -2706.7% | -2162.0% | -1681.5% | -0.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -70.4% | -70.4% | -160.6% | -141.7% | -75.1% | -86.4% | — | -0.0% |
| ROA | -57.5% | -57.5% | -87.1% | -92.9% | -61.8% | -61.3% | -113.1% | -0.0% |
| ROIC | -100.7% | -100.7% | -139.9% | -99.7% | -57.6% | -60.9% | -828.3% | — |
| ROCE | -64.7% | -64.7% | -119.2% | -113.2% | -69.7% | -78.6% | -9147.5% | -0.0% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.28 | 0.60 | 0.30 | — | — | 0.66 |
| Debt / EBITDA | — | — | — | — | — | — | — | 11.05 |
| Net Debt / Equity | — | -0.53 | -0.40 | 0.01 | 0.09 | -0.08 | — | -0.36 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | -6.05 |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | -13.72 | -13.72 | — | -2288.91 | -125.81 | -12.86 | -16.74 | — |
Net cash position: cash ($43M) exceeds total debt ($235000)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.46 | 10.46 | 2.23 | 3.96 | 4.68 | 13.07 | 0.52 | 1.55 |
| Quick Ratio | 10.34 | 10.34 | 2.21 | 3.91 | 4.48 | 12.77 | 0.45 | 1.28 |
| Cash Ratio | 10.09 | 10.09 | 1.97 | 3.64 | 4.17 | 12.09 | 0.41 | 0.67 |
| Asset Turnover | — | 0.00 | 0.01 | 0.03 | 0.03 | 0.02 | 0.06 | 0.07 |
| Inventory Turnover | 0.55 | 0.55 | 4.42 | 26.28 | 1.92 | 0.89 | 0.30 | 0.10 |
| Days Sales Outstanding | — | 120.62 | 3053.71 | 32.66 | 61.75 | 512.48 | 36.06 | 35.60 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — | — |
| Shares Outstanding | — | $38M | $8M | $6M | $5M | $5M | $912499 | $849999 |
Commercialization and liquidity failure
According to current market data, AEye trades at a price-to-sales ratio of 260.40, a figure that appears disconnected from the company's negligible revenue generation and suggests that investors are pricing the equity based on speculative future licensing potential rather than any tangible fundamental performance metrics.
The extreme P/S multiple reflects a market that has largely abandoned traditional valuation frameworks for the stock, likely due to the absence of meaningful commercial traction. This valuation level implies an expectation of explosive, non-linear growth that remains unsupported by the current project-based revenue pipeline.
Based on reported figures, AEye's return on invested capital has remained consistently negative, reaching -19.9% in 2026Q1, which indicates that the company is currently destroying shareholder capital rather than compounding it through its ongoing research and development initiatives.
The persistent negative ROIC trend highlights the fundamental challenge of a business model that requires heavy R&D investment without a corresponding scale in revenue. Investors should monitor whether the shift to an asset-light model can eventually stabilize these returns, though current data suggests a long path to profitability.
As reported in financial statements, the company's cash conversion cycle remains highly volatile and deeply negative, with a 2026Q1 figure of -1150 days, suggesting that the firm's working capital management is currently dominated by erratic project-based payment cycles rather than efficient operational throughput.
The extreme fluctuations in days sales outstanding and days payable outstanding indicate a lack of operational maturity and a reliance on irregular milestone payments. This inefficiency complicates cash flow forecasting and underscores the difficulty of managing liquidity in a pre-scale industrial technology environment.
While the company reported a current ratio of 12.89 in 2026Q1, this metric appears misleadingly high, as it is driven by cash reserves from external financing rather than an ability to generate liquidity through core business operations or efficient inventory turnover.
The high current ratio provides a temporary safety net, but the underlying burn rate suggests that this liquidity is rapidly depleting. Without a transition to self-sustaining revenue, the company remains structurally vulnerable to capital market conditions and potential future dilution events.
The most commonly misapplied metric for AEye is the price-to-sales ratio, which obscures the company's lack of repeatable commercial revenue and fails to account for the high probability that current project-based income will not translate into long-term, high-margin licensing royalties.
Analysts should instead focus on 'design win' conversion rates and cash burn duration, as these metrics provide a more accurate assessment of the company's survival probability. Relying on P/S multiples in a pre-revenue context risks ignoring the fundamental reality of the firm's current commercial stagnation.
Includes 30+ ratios · 7 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying LIDR stock.
AEye, Inc.'s current P/E ratio is -1.6x. This places it at the 50th percentile of its historical range.
AEye, Inc.'s return on equity (ROE) is -70.4%. The historical average is -89.0%.
Based on historical data, AEye, Inc. is trading at a P/E of -1.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
AEye, Inc. has -137.8% gross margin and -13618.5% operating margin.