Latest Ratios: P/E Ratio -4.6x · EV/EBITDA N/A · ROE -11.3%. (2004–2025 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 | $138M | $92M | $152M | $308M | $421M | $1.0B | $629M | $398M | $214M | $445M | $216M |
| Enterprise Value | $81M | $35M | $44M | $154M | $201M | $725M | $437M | $553M | $385M | $620M | $354M |
| P/E Ratio → | -4.62 | — | — | — | — | 17.33 | 1.79 | — | — | 4.93 | — |
| P/S Ratio | 0.77 | 0.52 | 0.66 | 1.34 | 1.25 | 2.11 | 1.24 | 0.77 | 0.29 | 0.66 | 0.31 |
| P/B Ratio | 0.55 | 0.37 | 0.55 | 0.89 | 0.98 | 2.21 | 1.82 | — | — | — | — |
| P/FCF | — | — | — | — | — | 18.22 | — | 15.07 | 42.44 | — | — |
| P/OCF | — | — | — | — | 81.54 | 11.40 | 84.17 | 7.89 | 5.46 | — | 28.30 |
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 | — | 0.20 | 0.19 | 0.67 | 0.60 | 1.53 | 0.86 | 1.06 | 0.51 | 0.91 | 0.51 |
| EV / EBITDA | — | — | — | — | 20.62 | 7.43 | 10.04 | 9.80 | 4.85 | 9.20 | 12.56 |
| EV / EBIT | — | — | — | — | — | 9.63 | 15.08 | 140.32 | 17.60 | 17.42 | 711.67 |
| EV / FCF | — | — | — | — | — | 13.21 | — | 20.93 | 76.37 | — | — |
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 | 17.6% | 17.6% | 22.4% | 22.4% | 30.0% | 32.4% | 25.3% | 22.4% | 26.4% | 27.6% | 22.7% |
| Operating Margin | -17.3% | -17.3% | -22.9% | -25.1% | -1.6% | 17.6% | 5.3% | 4.6% | 6.3% | 5.8% | 0.4% |
| Net Profit Margin | -16.6% | -16.6% | -23.4% | -15.9% | -2.4% | 12.0% | 68.0% | -4.2% | -0.5% | 12.5% | -4.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -11.3% | -11.3% | -17.5% | -9.5% | -1.8% | 14.2% | 208.7% | — | — | — | — |
| ROA | -8.1% | -8.1% | -13.6% | -7.8% | -1.5% | 9.8% | 59.1% | -3.7% | -0.7% | 17.0% | -6.4% |
| ROIC | -12.9% | -12.9% | -22.1% | -21.6% | -2.0% | 37.8% | 13.8% | 12.1% | 24.6% | 29.3% | 3.0% |
| ROCE | -9.7% | -9.7% | -15.0% | -13.7% | -1.1% | 18.6% | 6.3% | 5.2% | 10.9% | 11.1% | 0.9% |
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 | 0.19 | 0.19 | 0.11 | 0.01 | 0.01 | 0.01 | 0.25 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | 0.56 | 0.04 | 2.03 | 5.43 | 3.82 | 4.50 | 7.85 |
| Net Debt / Equity | — | -0.23 | -0.39 | -0.44 | -0.51 | -0.61 | -0.56 | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | -22.55 | -2.82 | -4.41 | 2.74 | 2.15 | 2.59 | 4.89 |
| Debt / FCF | — | — | — | — | — | -5.01 | — | 5.86 | 33.93 | — | — |
| Interest Coverage | -18.71 | -18.71 | -30.81 | -56.44 | -1.49 | 54.95 | 1.60 | 0.18 | 0.99 | 1.65 | 0.03 |
Net cash position: cash ($104M) exceeds total debt ($47M)
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 | 4.07 | 4.07 | 4.74 | 5.23 | 7.15 | 4.79 | 2.36 | 2.83 | 2.66 | 2.39 | 1.58 |
| Quick Ratio | 3.29 | 3.29 | 4.08 | 4.54 | 6.31 | 4.33 | 2.13 | 2.53 | 2.12 | 1.86 | 1.21 |
| Cash Ratio | 2.39 | 2.39 | 3.00 | 3.37 | 4.77 | 3.27 | 1.61 | 1.13 | 1.00 | 0.93 | 0.54 |
| Asset Turnover | — | 0.51 | 0.61 | 0.55 | 0.65 | 0.81 | 0.89 | 0.87 | 1.29 | 1.22 | 1.56 |
| Inventory Turnover | 4.32 | 4.32 | 5.89 | 5.45 | 5.93 | 8.15 | 9.70 | 9.76 | 7.72 | 6.73 | 9.32 |
| Days Sales Outstanding | — | 58.98 | 51.73 | 58.60 | 46.73 | 59.15 | 49.47 | 40.41 | 59.25 | 51.73 | 35.89 |
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 | — | — | — | — | — | 5.8% | 55.8% | — | — | 20.3% | — |
| FCF Yield | — | — | — | — | — | 5.5% | — | 6.6% | 2.4% | — | — |
| Buyback Yield | 3.2% | 4.7% | 8.5% | 16.8% | 3.3% | 3.9% | 0.2% | 0.7% | 0.8% | 2.6% | 0.0% |
| Total Shareholder Yield | 3.2% | 4.7% | 8.5% | 16.8% | 3.3% | 3.9% | 0.2% | 0.7% | 0.8% | 2.6% | 0.0% |
| Shares Outstanding | — | $36M | $38M | $41M | $45M | $48M | $47M | $34M | $34M | $45M | $35M |
Structural OLED market commoditization
According to current market data, Magnachip trades at a price-to-sales multiple of 0.95, a valuation that appears to discount the company's historical display-centric growth prospects in favor of a liquidation-style assessment following the collapse of its previously proposed acquisition by Wise Road Capital.
The negative P/E ratio of -5.67 underscores the absence of core earnings, forcing investors to rely on the P/B ratio of 0.68 as a proxy for floor value. This valuation suggests that the market views the current business model as a value trap rather than a turnaround candidate, as the lack of a clear path to profitability limits the potential for multiple expansion.
Based on reported financial figures, Magnachip’s ROIC has consistently remained in negative territory, reaching -2.0% in 2026Q1, which indicates that the company is currently destroying shareholder value rather than compounding it through its specialized high-voltage analog and mixed-signal design investments.
The persistent negative return on capital suggests that the company's R&D and operational overhead are not being adequately offset by the margins generated from its OLED and power solutions. Without a significant improvement in asset utilization, the company may continue to see its invested capital base erode as it struggles to compete with larger, more efficient semiconductor peers.
As reported in recent quarterly filings, the company's cash conversion cycle has fluctuated significantly, reaching 84 days in 2026Q1, which reflects ongoing challenges in managing inventory turnover and collecting receivables within the highly competitive and cyclical smartphone display driver integrated circuit market.
The DIO of 77 days suggests that the company is holding onto potentially obsolete inventory for extended periods, which increases the risk of future write-downs. This inefficiency in working capital management further strains the company's liquidity, as cash remains tied up in components that are increasingly subject to rapid commoditization by Chinese entrants.
According to the latest balance sheet data, Magnachip maintains a current ratio of 2.37, which provides a temporary safety net, yet this liquidity position appears to be in a state of structural decay as the company continues to fund its operations through its existing cash reserves.
While the quick ratio of 1.91 suggests that the company is not overly dependent on inventory to meet its short-term obligations, the steady decline in cash balances warrants close monitoring. Investors should consider that this liquidity is finite and may be exhausted if the company cannot stabilize its operating margins within the next several quarters.
The price-to-book ratio is frequently misapplied to Magnachip, as it obscures the reality that the company's book value is heavily comprised of intangible assets and potentially obsolete inventory that may not be realizable in a distressed scenario or a forced strategic exit.
Relying on P/B as a valuation floor is dangerous because it ignores the company's ongoing cash burn and the potential for further asset impairments. A more appropriate metric would be an adjusted enterprise value to cash flow, which would better capture the company's ability to sustain its operations without relying on its shrinking balance sheet.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying MX stock.
Magnachip Semiconductor Corporation's current P/E ratio is -4.6x. The historical average is 6.8x.
Magnachip Semiconductor Corporation's return on equity (ROE) is -11.3%. The historical average is 28.3%.
Based on historical data, Magnachip Semiconductor Corporation is trading at a P/E of -4.6x. Compare with industry peers and growth rates for a complete picture.
Magnachip Semiconductor Corporation has 17.6% gross margin and -17.3% operating margin.