Latest Ratios: P/E Ratio -13.2x · EV/EBITDA N/A · ROE -61.6%. (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 | $1.2B | $590M | $358M | $38M | $111M | $245M | $190M | $81M | $56M | $44M | $53M |
| Enterprise Value | $1.1B | $557M | $329M | $35M | $102M | $231M | $187M | $83M | $54M | $39M | $38M |
| P/E Ratio → | -13.16 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1099.22 | 548.61 | 8653.04 | 80.53 | 200.73 | 1173.00 | 48.76 | 20.76 | 14.51 | 15.81 | 28.37 |
| P/B Ratio | 4.54 | 3.21 | 17.33 | 7.61 | 9.69 | 9.82 | 32.61 | 4.24 | 2.67 | 1.91 | 1.64 |
| 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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 518.01 | 7931.26 | 75.21 | 184.59 | 1103.41 | 48.05 | 21.24 | 13.85 | 14.03 | 20.65 |
| 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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 62.0% | 62.0% | 62.0% | 51.9% | 25.9% |
| Operating Margin | -3150.5% | -3150.5% | -72572.6% | -4381.3% | -3565.9% | -7493.6% | -467.3% | -235.1% | -427.5% | -468.7% | -736.7% |
| Net Profit Margin | -5857.8% | -5857.8% | -136857.2% | -4351.3% | -3805.8% | -7493.6% | -492.5% | -294.1% | -419.8% | -458.0% | -710.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -61.6% | -61.6% | -442.6% | -247.5% | -115.5% | -101.8% | -154.1% | -57.0% | -73.9% | -46.3% | -55.5% |
| ROA | -31.6% | -31.6% | -144.6% | -167.7% | -98.9% | -80.8% | -107.2% | -46.5% | -64.8% | -42.2% | -51.4% |
| ROIC | -35.9% | -35.9% | — | -614.8% | -228.4% | -174.7% | -113.8% | -34.8% | -68.1% | -54.6% | -109.0% |
| ROCE | -32.9% | -32.9% | -226.4% | -242.8% | -107.1% | -99.6% | -143.7% | -44.5% | -71.5% | -44.9% | -55.6% |
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 | 0.04 | 0.04 | 0.35 | 0.11 | 0.03 | 0.02 | 0.70 | 0.17 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.18 | -1.45 | -0.50 | -0.78 | -0.58 | -0.48 | 0.10 | -0.12 | -0.22 | -0.45 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -436.10 | -436.10 | -551.20 | -287.78 | -421.95 | -41.97 | -16.54 | -13.15 | — | — | — |
Net cash position: cash ($40M) exceeds total debt ($7M)
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 | 2.19 | 2.19 | 1.15 | 0.90 | 2.51 | 11.33 | 1.39 | 4.02 | 2.27 | 9.81 | 10.55 |
| Quick Ratio | 2.19 | 2.19 | 1.15 | 0.90 | 2.51 | 11.33 | 1.39 | 4.02 | 2.12 | 9.16 | 9.86 |
| Cash Ratio | 2.18 | 2.18 | 1.11 | 0.85 | 2.42 | 11.08 | 1.27 | 0.28 | 0.84 | 6.14 | 9.21 |
| Asset Turnover | — | 0.00 | 0.00 | 0.05 | 0.04 | 0.01 | 0.33 | 0.16 | 0.15 | 0.11 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 3.38 | 2.56 | 1.24 |
| Days Sales Outstanding | — | 70.93 | 63.90 | 44.82 | 126.23 | 247.12 | — | 1697.36 | 96.93 | 80.13 | 57.41 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 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% | 0.0% | 0.0% |
| Shares Outstanding | — | $93M | $60M | $40M | $37M | $35M | $29M | $29M | $28M | $26M | $22M |
Persistent pre-commercial cash burn
As reported in financial statements, POET's price-to-sales ratio of 1159.40 suggests that investors are pricing the firm based on the long-term option value of its Optical Interposer platform rather than any current fundamental earnings, which remains a significant departure from established semiconductor peers like Lumentum or Coherent.
The extreme P/S multiple indicates that the market is currently ignoring the lack of meaningful revenue in favor of the potential for disruptive technology adoption in AI data centers. Investors should monitor whether this valuation can be sustained if the company fails to convert its current design-win pipeline into high-volume, repeatable product sales.
Based on reported figures, POET's ROIC of -4.5% in 2026Q1 highlights the ongoing erosion of invested capital as the firm prioritizes R&D and infrastructure over immediate profitability, a trend that has persisted throughout the company's multi-year transition from laboratory research to commercial-scale manufacturing.
The consistently negative return metrics are a structural byproduct of a pre-commercial business model that requires heavy upfront investment in proprietary technology. Until the company achieves sufficient scale to leverage its fixed costs, these returns will likely remain suppressed, necessitating further scrutiny of the firm's capital allocation efficiency.
According to recent quarterly filings, POET's DSO of 45 days in 2026Q1 reflects the erratic nature of milestone-based revenue recognition, which complicates the assessment of operational efficiency compared to traditional semiconductor manufacturers that maintain more predictable, volume-driven accounts receivable cycles.
The lack of a stable cash conversion cycle suggests that the company is still in the early stages of establishing a repeatable operational rhythm. The high variability in working capital metrics warrants further investigation into whether the firm can effectively manage its supplier and customer relationships as it scales toward mass production.
As reported in financial statements, POET's current ratio declined to 35.41 in 2026Q1, yet this figure masks a rapidly shrinking cash balance that fell from $40.0M in 2025Q4 to $16.5M, signaling a tightening liquidity position that may necessitate future dilutive capital raises to sustain operations.
While the current ratio appears high, it is heavily influenced by the company's reliance on equity-funded assets rather than operational cash generation. The rapid depletion of cash reserves suggests that the firm's runway is becoming a critical constraint, potentially limiting its ability to weather any delays in commercialization.
Data from recent financial statements suggest that the price-to-sales ratio is the most commonly misapplied metric for POET, as it obscures the fact that current revenue is derived from non-recurring engineering milestones rather than the high-margin, repeatable product sales that typically justify such valuation multiples.
Investors should instead focus on the 'Design Win' pipeline and wafer yield metrics, which provide a more accurate reflection of the company's progress toward commercial viability. Relying on traditional revenue multiples in a pre-revenue context risks significantly overestimating the firm's current market position and underestimating the execution risks involved.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying POET stock.
POET Technologies Inc.'s current P/E ratio is -13.2x. This places it at the 50th percentile of its historical range.
POET Technologies Inc.'s return on equity (ROE) is -61.6%. The historical average is -135.0%.
Based on historical data, POET Technologies Inc. is trading at a P/E of -13.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
POET Technologies Inc. has 100.0% gross margin and -3150.5% operating margin.