Latest Ratios: P/E Ratio -66.7x · EV/EBITDA N/A · ROE -7.9%. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.7B | $10.9B | $11.0B | $9.8B | $6.4B | $10.7B | — | — | — | — |
| Enterprise Value | $6.4B | $10.6B | $10.7B | $9.6B | $6.2B | $10.2B | — | — | — | — |
| P/E Ratio → | -66.75 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 5.10 | 8.26 | 9.59 | 10.34 | 8.94 | 20.82 | — | — | — | — |
| P/B Ratio | 5.32 | 8.66 | 8.58 | 8.50 | 5.77 | 9.01 | — | — | — | — |
| P/FCF | 31.35 | 50.81 | 62.41 | 209.05 | — | 1178.12 | — | — | — | — |
| P/OCF | 22.57 | 36.57 | 56.32 | 106.79 | 510.89 | 291.85 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.99 | 9.28 | 10.07 | 8.66 | 19.87 | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 49.12 | 60.39 | 203.44 | — | 1124.34 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.4% | 78.4% | 82.1% | 81.6% | 79.4% | 80.9% | 82.1% | 81.6% | 79.9% | 77.4% |
| Operating Margin | -8.9% | -8.9% | -11.8% | -22.7% | -40.3% | -55.5% | -14.6% | -28.6% | -29.5% | -49.1% |
| Net Profit Margin | -7.6% | -7.6% | -9.2% | -20.0% | -39.8% | -51.5% | -24.0% | -28.7% | -30.4% | -49.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -7.9% | -7.9% | -8.7% | -16.7% | -24.9% | -57.8% | — | — | — | -219.0% |
| ROA | -4.6% | -4.6% | -5.3% | -10.4% | -16.7% | -21.1% | -14.5% | -21.3% | -25.1% | -31.5% |
| ROIC | -9.7% | -9.7% | -11.2% | -17.9% | -27.0% | -299.2% | — | — | -4997.9% | — |
| ROCE | -8.6% | -8.6% | -10.4% | -17.5% | -23.3% | -31.0% | -14.0% | -40.5% | -54.2% | -74.7% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.09 | 0.09 | 0.06 | 0.08 | 0.08 | 0.08 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.29 | -0.28 | -0.23 | -0.18 | -0.41 | — | — | — | 0.00 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -1.68 | -2.02 | -5.61 | — | -53.78 | -98.55 | — | — | — |
| Interest Coverage | -80.51 | -80.51 | -53.86 | -95.28 | -133.18 | -123.11 | -40.29 | -88.29 | -39.47 | -351.24 |
Net cash position: cash ($481M) exceeds total debt ($118M)
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.32 | 1.32 | 1.51 | 1.49 | 1.50 | 1.86 | 1.86 | 0.89 | 1.03 | 0.89 |
| Quick Ratio | 1.32 | 1.32 | 1.51 | 1.49 | 1.50 | 1.86 | 1.86 | 0.89 | 1.03 | 0.89 |
| Cash Ratio | 0.87 | 0.87 | 1.07 | 1.06 | 1.10 | 1.45 | 1.45 | 0.53 | 0.65 | 0.59 |
| Asset Turnover | — | 0.59 | 0.55 | 0.50 | 0.41 | 0.30 | 0.49 | 0.57 | 0.68 | 0.64 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 94.72 | 88.86 | 91.16 | 87.31 | 92.88 | 70.84 | 73.51 | 88.57 | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 3.2% | 2.0% | 1.6% | 0.5% | — | 0.1% | — | — | — | — |
| Buyback Yield | 1.9% | 1.2% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 1.9% | 1.2% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $150M | $147M | $142M | $137M | $134M | $118M | $104M | $112M | $118M |
Construction cycle volume sensitivity
Based on recent market data, Procore trades at a price-to-sales multiple of 4.78, which suggests investors are pricing in significant long-term growth potential despite the company's current lack of GAAP profitability and a negative trailing twelve-month price-to-earnings ratio of -62.55 as reported in financial filings.
The forward P/E of 24.92 indicates that the market expects a rapid transition to profitability, likely driven by operating leverage as the company scales. However, this valuation appears aggressive when compared to more mature software peers, implying that any deviation from expected growth trajectories could lead to significant multiple compression.
According to quarterly financial statements, Procore's return on invested capital has remained consistently negative, bottoming at -5.4% in 2024Q4, which highlights the company's ongoing prioritization of market share expansion over immediate capital efficiency in its core construction software vertical.
The persistent negative ROIC suggests that the capital deployed into product development and customer acquisition has yet to generate returns exceeding the cost of capital. Investors should monitor whether the recent focus on higher-margin financial modules can eventually drive these returns into positive territory as the platform matures.
As reported in recent SEC filings, Procore's asset turnover ratio has remained stagnant at approximately 0.15 to 0.17 over the last ten quarters, indicating that the company's revenue generation is not yet scaling proportionally with its asset base as it continues to invest in its ecosystem.
The DSO trend, which fluctuated between 50 and 79 days, suggests variability in collection cycles that may be tied to the payment terms of large construction projects. This lack of improvement in asset turnover warrants further investigation into whether the company's current infrastructure is being utilized efficiently or if it remains bloated relative to current revenue levels.
Based on the most recent quarterly data, Procore maintains a current ratio of 1.12, which provides a sufficient, albeit modest, buffer for meeting short-term obligations while the company continues to navigate the cyclical nature of the commercial construction industry and its own ongoing operating losses.
The company's liquidity position appears stable, but the reliance on cash reserves to fund operations suggests that any prolonged downturn in construction volume could pressure the balance sheet. The absence of significant debt-to-equity leverage, currently at 0.08, provides a degree of flexibility that may be critical if the company needs to pivot its strategy during a macro slowdown.
As noted in industry research, the price-to-earnings ratio is a fundamentally flawed metric for evaluating Procore, as it obscures the company's massive investment in customer acquisition and R&D that currently suppresses GAAP earnings while masking the underlying cash-generating potential of its subscription-based business model.
Investors should instead focus on free cash flow margins and net retention rates to gauge the true health of the business. Relying on P/E in this context may lead to an incorrect assessment of the company's value, as it fails to account for the deliberate trade-off between current profitability and long-term market dominance.
Includes 30+ ratios · 9 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying PCOR stock.
Procore Technologies, Inc.'s current P/E ratio is -66.7x. This places it at the 50th percentile of its historical range.
Procore Technologies, Inc.'s return on equity (ROE) is -7.9%. The historical average is -55.8%.
Based on historical data, Procore Technologies, Inc. is trading at a P/E of -66.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Procore Technologies, Inc. has 78.4% gross margin and -8.9% operating margin.