Latest Ratios: P/E Ratio 37.5x · EV/EBITDA 260.8x · ROE 10.4%. (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 | $4.3B | $7.8B | $12.3B | $9.1B | $5.6B | $13.7B | — | — |
| Enterprise Value | $3.1B | $6.6B | $11.0B | $8.0B | $4.8B | $12.9B | — | — |
| P/E Ratio → | 37.54 | 65.88 | 379.74 | — | — | — | — | — |
| P/S Ratio | 3.52 | 6.36 | 12.70 | 12.45 | 10.77 | 44.59 | — | — |
| P/B Ratio | 3.58 | 6.28 | 11.98 | 11.17 | 8.22 | 19.53 | — | — |
| P/FCF | 13.84 | 25.00 | 41.72 | 44.32 | 686.76 | 5290.53 | — | — |
| P/OCF | 12.99 | 23.48 | 39.68 | 42.17 | 205.92 | 840.08 | — | — |
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 | — | 5.39 | 11.35 | 11.00 | 9.21 | 41.71 | — | — |
| EV / EBITDA | 260.76 | 550.89 | — | — | — | — | — | — |
| EV / EBIT | — | — | 277.60 | 2130.20 | — | — | — | — |
| EV / FCF | — | 21.20 | 37.31 | 39.17 | 587.44 | 4949.08 | — | — |
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 | 89.2% | 89.2% | 89.3% | 88.9% | 87.2% | 87.3% | 86.0% | 84.7% |
| Operating Margin | -0.1% | -0.1% | -2.2% | -5.3% | -29.3% | -40.9% | -93.4% | -118.5% |
| Net Profit Margin | 9.6% | 9.6% | 3.3% | -0.3% | -26.4% | -42.0% | -94.5% | -117.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 10.4% | 10.4% | 3.5% | -0.3% | -19.8% | -53.2% | — | — |
| ROA | 6.3% | 6.3% | 2.2% | -0.2% | -13.9% | -23.7% | -88.9% | -49.5% |
| ROIC | -2.4% | -2.4% | — | — | — | — | — | — |
| ROCE | -0.1% | -0.1% | -2.1% | -4.8% | -21.0% | -34.9% | -248.1% | -88.6% |
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 | 0.25 | 0.25 | 0.10 | 0.08 | 0.11 | 0.00 | — | — |
| Debt / EBITDA | 25.85 | 25.85 | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.96 | -1.27 | -1.30 | -1.19 | -1.26 | — | — |
| Net Debt / EBITDA | -98.82 | -98.82 | — | — | — | — | — | — |
| Debt / FCF | — | -3.80 | -4.41 | -5.15 | -99.32 | -341.44 | — | — |
| Interest Coverage | — | — | — | 8.51 | -162.46 | -129.75 | -147.38 | -117.24 |
Net cash position: cash ($1.5B) exceeds total debt ($312M)
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 | 2.50 | 2.50 | 2.66 | 2.82 | 3.10 | 4.00 | 1.05 | 2.25 |
| Quick Ratio | 2.50 | 2.50 | 2.66 | 2.82 | 3.10 | 4.00 | 1.05 | 2.25 |
| Cash Ratio | 2.33 | 2.33 | 2.54 | 2.68 | 2.97 | 3.89 | 1.00 | 2.17 |
| Asset Turnover | — | 0.58 | 0.58 | 0.57 | 0.50 | 0.33 | 1.02 | 0.42 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 9.05 | 12.11 | 14.37 | 12.02 | 10.36 | 8.86 | 16.07 |
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 | 2.7% | 1.5% | 0.3% | — | — | — | — | — |
| FCF Yield | 7.2% | 4.0% | 2.4% | 2.3% | 0.1% | 0.0% | — | — |
| Buyback Yield | 3.1% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 3.1% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $53M | $52M | $48M | $46M | $45M | $39M | $39M |
Geopolitical and Talent Concentration
According to current market data, monday.com trades at a P/S of 3.06 and a forward P/E of 16.40, suggesting that investors are pricing in a successful transition to a multi-product enterprise platform rather than a simple project management tool, despite the recent deceleration in top-line growth.
The valuation premium relative to legacy project management peers appears to be driven by the company's ability to expand its TAM through specialized CRM and Dev suites. However, the wide gap between TTM P/E and forward P/E warrants caution, as it implies a significant reliance on future margin expansion that may be difficult to achieve if competitive pressures in the CRM space intensify.
Based on reported financial statements, the company's ROE has fluctuated between -1.3% and 6.1% over the last ten quarters, indicating that while the firm is generating positive returns, its ability to compound capital is frequently hampered by persistent stock-based compensation and historical accumulated losses.
The modest ROE figures suggest that the company is still in a phase of capital-intensive growth where reinvestment into S&M outweighs immediate shareholder returns. Investors should monitor whether the company can improve its ROIC as it scales, particularly as the reliance on non-cash compensation begins to normalize relative to revenue growth.
As indicated by quarterly filings, the company maintains a consistent asset turnover ratio of approximately 0.16 to 0.18, reflecting a business model that relies on high-margin software delivery rather than physical asset utilization to drive its revenue base and support ongoing operational requirements.
The stability of the asset turnover ratio suggests that the company's infrastructure is highly scalable, allowing for revenue growth without a proportional increase in capital expenditure. The management of deferred revenue remains a critical efficiency lever, as the ability to collect annual payments upfront provides a structural advantage in funding operations without external debt.
According to the latest balance sheet data, the company maintains a debt-to-equity ratio of 0.23, demonstrating a fortress-like balance sheet that provides significant insulation against rising interest rates and potential operational disruptions in its primary R&D hub in Tel Aviv.
The minimal reliance on debt financing is a key differentiator, allowing the company to utilize its cash pile to generate interest income that bolsters net margins. This conservative approach to leverage appears prudent given the inherent volatility of the software sector and the company's exposure to geopolitical risks.
Investors frequently misapply the P/E ratio to monday.com, as the metric is heavily distorted by non-operating interest income from the company's $1.5 billion cash pile, which masks the underlying operational reality of a business that is still navigating the transition to consistent GAAP profitability.
Relying on P/E ratios obscures the true earning power of the core software business, as it conflates financial income with operational performance. A more appropriate metric for this business model would be an adjusted operating margin that excludes both interest income and stock-based compensation to better reflect the underlying unit economics of the platform.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying MNDY stock.
monday.com Ltd.'s current P/E ratio is 37.5x. The historical average is 65.9x.
monday.com Ltd.'s current EV/EBITDA is 260.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
monday.com Ltd.'s return on equity (ROE) is 10.4%. The historical average is -11.9%.
Based on historical data, monday.com Ltd. is trading at a P/E of 37.5x. Compare with industry peers and growth rates for a complete picture.
monday.com Ltd. has 89.2% gross margin and -0.1% operating margin.
monday.com Ltd.'s Debt/EBITDA ratio is 25.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.