Latest Ratios: P/E Ratio 63.2x · EV/EBITDA N/A · ROE 13.9%. (2015–2025 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 | $345M | $167M | $70M | $44M | $59M | $97M | $66M | $31M | $24M | — | — |
| Enterprise Value | $315M | $137M | $66M | $44M | $61M | $95M | $65M | $28M | $24M | — | — |
| P/E Ratio → | 63.23 | 32.64 | — | — | — | 41.25 | — | — | — | — | — |
| P/S Ratio | 10.69 | 5.17 | 1.28 | 0.72 | 0.82 | 1.56 | 1.27 | 0.52 | 0.66 | — | — |
| P/B Ratio | 7.02 | 3.62 | 2.58 | 1.11 | 1.34 | 2.30 | 2.26 | 1.06 | 0.92 | — | — |
| P/FCF | — | — | — | — | — | 19.08 | — | — | — | — | — |
| P/OCF | — | — | — | — | — | 17.17 | — | 12.89 | — | — | — |
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 | — | 4.25 | 1.21 | 0.72 | 0.84 | 1.54 | 1.25 | 0.48 | 0.65 | — | — |
| EV / EBITDA | — | — | — | — | 23.13 | 29.49 | 55.08 | 31.62 | — | — | — |
| EV / EBIT | — | — | — | — | 25.70 | 27.46 | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | 18.81 | — | — | — | — | — |
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 | 46.5% | 46.5% | 14.1% | 29.5% | 28.2% | 31.7% | 31.7% | 33.3% | 30.6% | 31.5% | 29.2% |
| Operating Margin | -10.5% | -10.5% | -24.4% | -13.0% | 2.2% | 2.8% | -0.8% | -1.3% | -8.6% | -1.6% | -1.2% |
| Net Profit Margin | 15.8% | 15.8% | -24.9% | -11.0% | -3.1% | 3.8% | -0.0% | -1.5% | -3.1% | 0.4% | -1.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 13.9% | 13.9% | -40.8% | -16.0% | -5.2% | 6.5% | -0.0% | -3.3% | -6.8% | 1.6% | -3.7% |
| ROA | 11.3% | 11.3% | -32.0% | -12.8% | -4.1% | 5.1% | -0.0% | -2.4% | -4.3% | 0.6% | -1.6% |
| ROIC | -12.8% | -12.8% | -31.8% | -13.9% | 2.7% | 3.8% | -1.2% | -2.2% | -12.9% | -3.2% | -1.9% |
| ROCE | -8.9% | -8.9% | -38.1% | -18.3% | 3.6% | 4.8% | -1.4% | -2.8% | -18.8% | -6.5% | -3.8% |
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 | 0.03 | 0.03 | 0.10 | 0.11 | 0.10 | 0.09 | 0.18 | 0.08 | 0.07 | 0.67 | 0.74 |
| Debt / EBITDA | — | — | — | — | 1.64 | 1.15 | 4.55 | 2.61 | — | 11.53 | 19.85 |
| Net Debt / Equity | — | -0.65 | -0.15 | 0.00 | 0.03 | -0.03 | -0.03 | -0.10 | -0.02 | 0.65 | 0.74 |
| Net Debt / EBITDA | — | — | — | — | 0.45 | -0.43 | -0.79 | -3.31 | — | 11.05 | 19.79 |
| Debt / FCF | — | — | — | — | — | -0.27 | — | — | — | — | — |
| Interest Coverage | -1339.32 | -1339.32 | -173.16 | -48.15 | 14.51 | 6.57 | -0.11 | -3.01 | -44.20 | -2.11 | -1.40 |
Net cash position: cash ($31M) exceeds total debt ($1M)
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 | 9.13 | 9.13 | 3.93 | 6.18 | 4.13 | 3.90 | 3.08 | 2.31 | 2.20 | 1.01 | 1.13 |
| Quick Ratio | 8.16 | 8.16 | 2.32 | 3.02 | 2.26 | 2.63 | 1.85 | 1.62 | 1.46 | 0.64 | 0.69 |
| Cash Ratio | 5.60 | 5.60 | 1.22 | 1.72 | 1.19 | 2.04 | 0.81 | 0.49 | 0.25 | 0.02 | 0.00 |
| Asset Turnover | — | 0.61 | 1.48 | 1.26 | 1.28 | 1.20 | 1.33 | 1.47 | 1.03 | 1.63 | 1.32 |
| Inventory Turnover | 3.18 | 3.18 | 3.57 | 1.98 | 2.50 | 3.45 | 3.68 | 5.28 | 3.77 | 5.11 | 4.15 |
| Days Sales Outstanding | — | 130.86 | 54.57 | 49.86 | 57.09 | 29.97 | 52.46 | 73.03 | 103.90 | 68.83 | 95.45 |
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 | 1.6% | 3.1% | — | — | — | 2.4% | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | 5.2% | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 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% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $23M | $21M | $21M | $20M | $20M | $17M | $15M | $13M | $11M | $10M |
Lumpy project-based revenue volatility
As reported in recent financial filings, OSS trades at a P/S ratio of 12.49, a valuation that appears difficult to justify given the 41.10% revenue decline and the company's persistent inability to generate consistent operating profits across its specialized ruggedized compute and edge hardware segments.
The current P/E of 73.82 suggests that the market may be pricing in a significant turnaround or acquisition premium that is not currently supported by the underlying financial trajectory. Investors should monitor whether this valuation reflects a mispricing of the company's cash-heavy balance sheet rather than an optimistic outlook on future growth.
Based on the company's reported figures, ROIC has trended into negative territory, reaching -2.6% in 2026Q1, which suggests that the firm is currently destroying shareholder value rather than compounding it through its specialized engineering and ruggedized hardware design initiatives.
The persistent negative ROIC indicates that the capital invested in R&D and specialized engineering talent is not yielding sufficient returns at the current revenue scale. This trend warrants further investigation into whether the company's niche focus is structurally incapable of achieving the scale required for positive capital returns.
According to historical data, the cash conversion cycle remains highly volatile, peaking at 267 days in 2023Q4, which highlights the significant operational friction inherent in managing long-cycle, project-based hardware deliveries for defense and industrial clients compared to more efficient, high-volume technology peers.
The elevated days inventory outstanding, which reached 232 days in 2023Q4, suggests that the company may be carrying significant risk related to component obsolescence or slow-moving specialized silicon. This inefficiency in working capital management appears to be a structural drag on the company's ability to generate free cash flow.
As evidenced by the quarterly financial data, the P/E ratio is a fundamentally flawed metric for OSS, as it is frequently distorted by one-time non-operating gains that mask the underlying unprofitability of the core hardware business, as seen in the 2025Q4 net income spike.
Analysts should instead prioritize EV/Sales or Book-to-Bill ratios to assess the health of the sales funnel and the true enterprise value of the firm. Relying on P/E in this context obscures the reality that the company's core operations are currently failing to cover their fixed cost base.
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying OSS stock.
One Stop Systems, Inc.'s current P/E ratio is 63.2x. The historical average is 36.9x. This places it at the 100th percentile of its historical range.
One Stop Systems, Inc.'s return on equity (ROE) is 13.9%. The historical average is -4.9%.
Based on historical data, One Stop Systems, Inc. is trading at a P/E of 63.2x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
One Stop Systems, Inc. has 46.5% gross margin and -10.5% operating margin.