Latest Ratios: P/E Ratio -85.6x · EV/EBITDA 386.9x · ROE -6.9%. (1996–2025 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 | $136M | $63M | $19M | $21M | $27M | $29M | $20M | $22M | $36M | $16M | $18M |
| Enterprise Value | $147M | $75M | $32M | $31M | $37M | $37M | $35M | $33M | $45M | $28M | $28M |
| P/E Ratio → | -85.56 | — | — | 10.43 | — | 4.44 | — | — | 33.93 | — | — |
| P/S Ratio | 1.86 | 0.87 | 0.28 | 0.30 | 0.39 | 0.50 | 0.36 | 0.31 | 0.41 | 0.25 | 0.28 |
| P/B Ratio | 5.74 | 2.94 | 0.91 | 0.86 | 1.21 | 1.32 | 1.29 | 1.03 | 1.35 | 0.68 | 0.73 |
| P/FCF | 121.53 | 56.61 | — | — | — | 15.22 | — | — | 14.59 | — | 7.36 |
| P/OCF | 96.13 | 44.78 | — | — | — | 13.84 | — | — | 11.25 | — | 5.72 |
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 | — | 1.02 | 0.47 | 0.43 | 0.54 | 0.63 | 0.63 | 0.46 | 0.52 | 0.43 | 0.43 |
| EV / EBITDA | 386.94 | 196.11 | — | 15.93 | 74.79 | — | — | — | 25.53 | 76.76 | 33.54 |
| EV / EBIT | — | — | — | 9.18 | 83.36 | — | — | — | 27.29 | — | — |
| EV / FCF | — | 66.71 | — | — | — | 19.48 | — | — | 18.33 | — | 11.46 |
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 | 30.9% | 30.9% | 27.3% | 30.9% | 29.7% | 27.5% | 25.5% | 25.7% | 31.7% | 32.4% | 30.5% |
| Operating Margin | -0.6% | -0.6% | -5.1% | 1.4% | 0.7% | -3.3% | -10.0% | -7.2% | 2.0% | -2.1% | -1.9% |
| Net Profit Margin | -2.0% | -2.0% | -6.3% | 2.9% | -0.5% | 11.2% | -11.1% | -7.9% | 1.2% | -2.7% | -2.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -6.9% | -6.9% | -18.5% | 8.8% | -1.6% | 35.3% | -33.5% | -23.6% | 4.2% | -7.2% | -7.1% |
| ROA | -3.6% | -3.6% | -10.0% | 4.9% | -0.9% | 17.8% | -16.0% | -13.6% | 2.6% | -4.3% | -4.2% |
| ROIC | -1.0% | -1.0% | -7.5% | 2.2% | 1.1% | -4.9% | -13.3% | -11.3% | 3.7% | -2.8% | -2.5% |
| ROCE | -1.8% | -1.8% | -11.0% | 2.9% | 1.5% | -6.4% | -19.5% | -16.5% | 4.8% | -3.6% | -3.2% |
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 | 0.53 | 0.53 | 0.62 | 0.44 | 0.48 | 0.37 | 0.99 | 0.54 | 0.35 | 0.52 | 0.48 |
| Debt / EBITDA | 30.32 | 30.32 | — | 5.67 | 21.18 | — | — | — | 5.31 | 34.50 | 14.26 |
| Net Debt / Equity | — | 0.52 | 0.61 | 0.39 | 0.47 | 0.37 | 0.98 | 0.52 | 0.34 | 0.48 | 0.41 |
| Net Debt / EBITDA | 29.70 | 29.70 | — | 4.91 | 20.75 | — | — | — | 5.21 | 32.02 | 12.01 |
| Debt / FCF | — | 10.10 | — | — | — | 4.26 | — | — | 3.74 | — | 4.11 |
| Interest Coverage | -0.42 | -0.42 | -2.59 | 2.92 | 0.58 | -2.86 | -9.71 | -9.89 | 2.73 | -2.33 | -1.89 |
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 | 1.82 | 1.82 | 2.02 | 4.51 | 4.17 | 4.47 | 4.04 | 2.16 | 4.42 | 6.46 | 6.38 |
| Quick Ratio | 0.65 | 0.65 | 0.78 | 1.45 | 1.57 | 1.83 | 1.31 | 0.83 | 1.93 | 2.46 | 2.74 |
| Cash Ratio | 0.01 | 0.01 | 0.02 | 0.19 | 0.03 | 0.02 | 0.02 | 0.04 | 0.03 | 0.21 | 0.46 |
| Asset Turnover | — | 1.82 | 1.65 | 1.64 | 1.70 | 1.56 | 1.51 | 1.78 | 2.04 | 1.60 | 1.59 |
| Inventory Turnover | 2.55 | 2.55 | 2.59 | 2.10 | 2.50 | 2.63 | 2.41 | 2.93 | 3.43 | 2.58 | 2.99 |
| Days Sales Outstanding | — | 51.48 | 60.28 | 46.56 | 58.13 | 65.30 | 50.25 | 52.95 | 53.59 | 51.33 | 50.77 |
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 | — | — | — | — | — | — | — | — | — | — | 0.8% |
| 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 | — | — | — | 9.6% | — | 22.5% | — | — | 2.9% | — | — |
| FCF Yield | 0.8% | 1.8% | — | — | — | 6.6% | — | — | 6.9% | — | 13.6% |
| Buyback Yield | 0.0% | 0.0% | 0.6% | 0.5% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.2% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.6% | 0.5% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 1.0% |
| Shares Outstanding | — | $8M | $8M | $8M | $8M | $8M | $7M | $7M | $8M | $7M | $6M |
Critical Liquidity and Scale
According to recent market data, OCC trades at a P/S of 2.22 and a negative TTM P/E of -102.06, suggesting that investors are currently pricing the company as a distressed asset rather than a growth-oriented connectivity provider despite the recent 9.55% year-over-year revenue expansion.
The absence of a meaningful P/E ratio highlights the market's skepticism regarding the company's ability to convert its specialized product niche into sustainable bottom-line earnings. Investors appear to be valuing the firm primarily on its potential as an acquisition target for larger industrial players, given that current multiples do not align with standard operational performance metrics.
As reported in financial statements, OCC's gross margin of 30.94% demonstrates a healthy value-add, yet the negative operating margin of -0.58% indicates that the company has not yet achieved the necessary scale to absorb its fixed manufacturing overhead and SG&A expenses effectively.
The persistent gap between gross and operating margins suggests that the company's cost structure is currently misaligned with its revenue volume. Without a significant shift in product mix toward higher-margin specialty connectors or a substantial increase in throughput, the company may continue to struggle with achieving consistent profitability.
Based on the provided quarterly figures, ROIC has remained volatile and frequently negative, reflecting the company's ongoing struggle to generate returns that exceed its cost of capital while navigating a challenging operational environment characterized by inconsistent net margins and high fixed-cost burdens.
The inability to maintain positive ROIC trends over the last ten quarters suggests that capital allocation has not yet yielded the expected compounding effect. This performance warrants further investigation into whether the current manufacturing footprint is fundamentally capable of delivering the returns required to justify continued investment in its specialized infrastructure.
According to the latest quarterly data, the company's cash conversion cycle remains extended, with days inventory outstanding reaching 128 days in 2026Q2, indicating that significant capital is tied up in inventory rather than being deployed to support core operational growth or liquidity needs.
The high inventory levels relative to sales suggest potential inefficiencies in supply chain management or a buildup of older product lines that may be losing relevance. Investors should monitor whether these working capital trends are a result of strategic stockpiling for military contracts or a sign of slowing demand for enterprise-grade cabling solutions.
As reported in recent filings, OCC's cash and equivalents have reached a critically low level of $237,508, which appears insufficient for a company with over $73 million in annual revenue and suggests a high reliance on external financing to fund ongoing working capital requirements.
This precarious liquidity position leaves the company with almost no margin for error, particularly if project-based revenue cycles experience delays or if raw material costs spike unexpectedly. The current cash position warrants close monitoring, as it may force management to seek dilutive financing or asset sales to maintain operational continuity.
The P/E ratio is the most commonly misapplied metric for this business model, as it obscures the company's strategic value as a niche manufacturer with specialized certifications that are not captured in traditional earnings-based valuation models.
Because OCC operates in a project-based, high-barrier-to-entry niche, its current negative earnings are a poor proxy for its long-term viability or its attractiveness to potential acquirers. Analysts should instead focus on Price-to-Sales or the intrinsic value of the company's Qualified Products List (QPL) certifications, which provide a competitive moat that standard earnings multiples fail to account for.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying OCC stock.
Optical Cable Corporation's current P/E ratio is -85.6x. The historical average is 47.9x.
Optical Cable Corporation's current EV/EBITDA is 386.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.8x.
Optical Cable Corporation's return on equity (ROE) is -6.9%. The historical average is 1.9%.
Based on historical data, Optical Cable Corporation is trading at a P/E of -85.6x. Compare with industry peers and growth rates for a complete picture.
Optical Cable Corporation has 30.9% gross margin and -0.6% operating margin.
Optical Cable Corporation's Debt/EBITDA ratio is 30.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.