Latest Ratios: P/E Ratio -66.5x · EV/EBITDA N/A · ROE -12.2%. (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 | $8.3B | $10.5B | $2.1B | — | — | — |
| Enterprise Value | $7.5B | $9.7B | $2.0B | — | — | — |
| P/E Ratio → | -66.53 | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — |
| P/B Ratio | 4.75 | 7.11 | 8.37 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -12.2% | -12.2% | -68.0% | — | — | -81.9% |
| ROA | -11.7% | -11.7% | -49.6% | -248.7% | -91.0% | -46.7% |
| ROIC | -24.7% | -24.7% | -71.3% | — | — | — |
| ROCE | -15.7% | -15.7% | -36.7% | -169.2% | -95.7% | -48.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.01 | — | — | 0.08 |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.53 | -0.38 | — | — | -1.58 |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — |
Net cash position: cash ($788M) exceeds total debt ($1M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 49.08 | 49.08 | 43.47 | 4.43 | 16.54 | 23.91 |
| Quick Ratio | 49.08 | 49.08 | 43.47 | 4.43 | 16.54 | 23.91 |
| Cash Ratio | 48.07 | 48.07 | 42.69 | 3.08 | 15.23 | 23.89 |
| Asset Turnover | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — |
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 | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $146M | $99M | $69M | $64M | $64M |
Regulatory and execution risk
As reported in financial statements, Oklo trades at a price-to-book ratio of 4.96, which significantly exceeds the valuation multiples of traditional regulated utilities and reflects a market pricing model centered on future technology potential rather than current earnings or dividend-based yield metrics.
The absence of a positive P/E ratio and dividend yield confirms that investors are currently valuing the company as a high-growth technology platform. This valuation appears to be anchored to the scarcity of advanced nuclear assets rather than the stable, interest-rate-sensitive cash flows that typically define the utility sector.
Based on reported figures, Oklo maintains a debt-to-capital ratio of 0.00 as of 2026Q1, indicating that the company has successfully avoided traditional leverage during its development phase by relying exclusively on equity financing to fund its capital-intensive reactor deployment and regulatory compliance efforts.
This lack of debt provides a temporary buffer against interest rate volatility, which is critical given the company's current inability to service debt through operational cash flow. However, investors should monitor whether this structure shifts toward debt as the company moves closer to commercialization and requires project-level financing.
According to recent market data, Oklo's P/B ratio of 4.96 suggests a significant valuation premium compared to peers like NuScale Power, which trades at a P/B of 1.48, implying that the market assigns higher value to Oklo's specific reactor design and site-permit assets.
While the company leads its direct peers in liquidity, the valuation premium warrants caution as it assumes successful navigation of the NRC licensing process. The market appears to be pricing in a higher probability of commercial success for Oklo than for other modular nuclear developers, which may not be fully supported by current regulatory milestones.
As indicated by the company's financial statements, the most commonly misapplied metric for Oklo is the traditional utility P/E ratio, which is fundamentally irrelevant for a pre-revenue firm and obscures the reality that the company's value is derived from R&D progress rather than rate-regulated earnings.
Investors should instead focus on the progression of NRC licensing milestones and the cash burn rate relative to the current $2.2 billion liquidity position. Applying standard utility valuation frameworks to Oklo risks ignoring the binary nature of its regulatory risk, which is the primary driver of its long-term viability.
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Quick answers to the most common questions about buying OKLO stock.
Oklo Inc.'s current P/E ratio is -66.5x. This places it at the 50th percentile of its historical range.
Oklo Inc.'s return on equity (ROE) is -12.2%. The historical average is -54.0%.
Based on historical data, Oklo Inc. is trading at a P/E of -66.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.