Latest Ratios: P/E Ratio -12.2x · EV/EBITDA N/A · ROE -24.9%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $1.7B | $4.2B | $2.0B | $1.8B | $1.1B | — | — |
| Enterprise Value | $962M | $1.5B | $3.9B | $1.8B | $1.7B | $843M | — | — |
| P/E Ratio → | -12.23 | — | — | — | — | — | — | — |
| P/S Ratio | 3.88 | 5.67 | 18.70 | 14.54 | 24.59 | 31.70 | — | — |
| P/B Ratio | 3.19 | 4.78 | 10.43 | 7.05 | 9.36 | 4.09 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.91 | 17.57 | 13.23 | 22.65 | 24.44 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.7% | 63.7% | 61.1% | 52.2% | 49.4% | 46.0% | -16.3% | -30.6% |
| Operating Margin | -33.7% | -33.7% | -43.0% | -80.2% | -107.6% | -157.1% | -619.4% | -705.9% |
| Net Profit Margin | -31.0% | -31.0% | -40.7% | -77.8% | -116.2% | -173.6% | -687.0% | -680.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -24.9% | -24.9% | -26.8% | -44.3% | -37.6% | -36.5% | -117.6% | -143.6% |
| ROA | -18.3% | -18.3% | -19.5% | -29.7% | -27.0% | -25.9% | -56.4% | -67.7% |
| ROIC | -55.7% | -55.7% | -57.6% | -106.0% | -176.4% | -250.3% | -275.5% | — |
| ROCE | -22.5% | -22.5% | -23.0% | -34.5% | -27.1% | -25.1% | -57.4% | -78.9% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.14 | 0.14 | 0.20 | 0.28 | 0.39 | 0.20 | 0.90 | 0.79 |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.64 | -0.63 | -0.63 | -0.74 | -0.94 | -0.74 | -0.64 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | -28.96 | -28.96 | -20.85 | -25.51 | -15.82 | -9.30 | -9.08 | -56.98 |
Net cash position: cash ($287M) exceeds total debt ($52M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.85 | 6.85 | 9.07 | 7.63 | 7.73 | 20.08 | 7.57 | 7.42 |
| Quick Ratio | 5.77 | 5.77 | 8.01 | 6.77 | 6.92 | 19.27 | 7.05 | 6.43 |
| Cash Ratio | 4.35 | 4.35 | 6.28 | 5.60 | 6.31 | 18.74 | 6.89 | 6.19 |
| Asset Turnover | — | 0.61 | 0.42 | 0.34 | 0.24 | 0.10 | 0.06 | 0.10 |
| Inventory Turnover | 1.58 | 1.58 | 1.56 | 1.64 | 1.33 | 1.42 | 1.20 | 1.20 |
| Days Sales Outstanding | — | 98.97 | 135.75 | 129.65 | 74.31 | 47.26 | 73.26 | 65.02 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — | — |
| Shares Outstanding | — | $56M | $52M | $47M | $44M | $44M | $35M | $34M |
High commercial scaling costs
According to current market data, PRCT trades at a price-to-sales multiple of 4.17, which suggests that investors are pricing in significant future market share gains in the BPH space rather than current earnings, given the company's negative TTM P/E of -13.12 and lack of positive GAAP profitability.
The valuation appears to be predicated on the assumption that the company will successfully transition from a high-growth, capital-intensive phase to a high-margin recurring revenue model. Investors should monitor whether the forward EV/EBITDA of 5.70 remains supported as the company faces the challenge of scaling its install base while simultaneously managing the high costs of customer acquisition.
Based on reported financial statements, PRCT's ROIC has remained consistently negative, hovering around -17.2% in 2026Q1, which indicates that the company is currently destroying shareholder value as it aggressively deploys capital to fund its robotic platform rollout and market expansion efforts across the domestic urology sector.
The persistent negative returns on invested capital suggest that the company has not yet reached the scale necessary to offset its heavy R&D and SG&A investments. Until the company can demonstrate a clear path toward positive ROIC, the current capital allocation strategy appears to prioritize market dominance over immediate efficiency, which warrants close scrutiny from long-term investors.
As reported in recent quarterly filings, the company's cash conversion cycle remains elevated at 270 days in 2026Q1, driven largely by a high days inventory outstanding of 229 days, which suggests that the company is carrying significant inventory to support its robotic console sales and potential future demand.
The extended CCC indicates that a substantial amount of capital is tied up in inventory, which may create liquidity friction if sales cycles lengthen or if demand for the AquaBeam system softens. Investors should monitor whether management can optimize these working capital components to improve cash flow efficiency as the business matures.
According to the most recent balance sheet data, PRCT maintains a current ratio of 6.73, providing a robust liquidity cushion that appears sufficient to fund ongoing operating losses and commercial scaling activities for the foreseeable future, despite the company's persistent cash burn and negative free cash flow margins.
This liquidity position is a critical strength that allows the company to continue its aggressive market penetration without immediate reliance on dilutive financing. However, the high quick ratio of 5.51 suggests that a significant portion of these assets is held in liquid form, which may be necessary given the unpredictable nature of the company's cash requirements.
As noted in financial research, the price-to-earnings ratio is frequently misapplied to PRCT, as the company's current negative earnings profile renders the metric meaningless for valuation, potentially leading investors to overlook the underlying growth in recurring revenue from high-margin disposables that will drive future profitability.
Instead of relying on P/E, analysts should focus on the EV/Sales multiple and the growth in the installed base of AquaBeam systems, as these metrics better capture the company's progress toward its long-term economic model. Focusing on GAAP earnings at this stage of the company's lifecycle may obscure the value being created through clinical adoption and recurring consumable revenue.
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Quick answers to the most common questions about buying PRCT stock.
PROCEPT BioRobotics Corporation's current P/E ratio is -12.2x. This places it at the 50th percentile of its historical range.
PROCEPT BioRobotics Corporation's return on equity (ROE) is -24.9%. The historical average is -61.6%.
Based on historical data, PROCEPT BioRobotics Corporation is trading at a P/E of -12.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
PROCEPT BioRobotics Corporation has 63.7% gross margin and -33.7% operating margin.