Latest Ratios: P/E Ratio -54.1x · EV/EBITDA N/A · ROE N/A. (2005–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $1.0B | $1.8B | $1.1B | $1.5B | $2.2B | $2.4B | $1.1B | $837M | $654M | $681M |
| Enterprise Value | $1.3B | $1.2B | $1.9B | $1.2B | $1.6B | $2.1B | $2.2B | $1.0B | $889M | $658M | $636M |
| P/E Ratio → | -54.07 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 3.40 | 3.13 | 5.89 | 3.98 | 6.08 | 8.71 | 9.63 | 5.49 | 4.96 | 4.27 | 4.05 |
| P/B Ratio | — | — | — | — | 426.78 | 18.78 | 14.61 | 19.71 | — | — | 12.30 |
| P/FCF | 42.83 | 39.47 | 244.12 | — | — | — | — | — | — | — | 80.13 |
| P/OCF | 41.01 | 37.79 | 181.26 | — | — | — | 459.62 | 189.76 | — | — | 43.88 |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.55 | 6.41 | 4.42 | 6.51 | 8.47 | 8.97 | 5.14 | 5.27 | 4.30 | 3.78 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 44.76 | 265.39 | — | — | — | — | — | — | — | 74.79 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 65.7% | 65.7% | 62.0% | 60.1% | 58.3% | 58.5% | 60.4% | 60.8% | 59.4% | 58.7% | 63.5% |
| Operating Margin | -5.8% | -5.8% | -16.7% | -27.7% | -28.6% | -26.2% | -21.1% | -24.9% | -38.0% | -42.7% | -31.3% |
| Net Profit Margin | -6.2% | -6.2% | -18.6% | -29.8% | -32.3% | -30.5% | -27.6% | -32.6% | -46.2% | -49.1% | -39.1% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -134.7% | -54.6% | -62.8% | -1622.4% | — | -289.2% | -85.2% |
| ROA | -4.9% | -4.9% | -12.9% | -17.4% | -15.7% | -14.6% | -14.5% | -17.7% | -30.2% | -30.6% | -23.3% |
| ROIC | -19.2% | -19.2% | -46.1% | -58.2% | -64.7% | -179.7% | — | — | -1462.9% | -901.5% | -135.0% |
| ROCE | -8.3% | -8.3% | -19.6% | -24.2% | -19.7% | -18.6% | -22.0% | -28.2% | -40.4% | -42.4% | -27.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 93.41 | 2.29 | 0.85 | 4.10 | — | — | 2.10 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | 29.92 | -0.52 | -1.00 | -1.28 | — | — | -0.82 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 5.30 | 21.27 | — | — | — | — | — | — | — | -5.34 |
| Interest Coverage | -4.14 | -4.14 | -8.60 | -12.14 | -11.41 | -5.94 | -3.58 | -2.89 | -4.86 | -7.02 | -5.90 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.28 | 1.28 | 1.19 | 1.66 | 1.83 | 2.67 | 1.97 | 1.26 | 1.98 | 1.80 | 2.44 |
| Quick Ratio | 1.28 | 1.28 | 1.19 | 1.66 | 1.83 | 2.67 | 1.97 | 1.26 | 1.98 | 1.80 | 2.44 |
| Cash Ratio | 0.87 | 0.87 | 0.86 | 1.27 | 1.47 | 2.23 | 1.56 | 1.08 | 1.57 | 1.39 | 1.90 |
| Asset Turnover | — | 0.79 | 0.72 | 0.61 | 0.51 | 0.47 | 0.49 | 0.45 | 0.58 | 0.67 | 0.64 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 71.79 | 58.96 | 63.68 | 58.91 | 71.69 | 94.88 | 77.48 | 70.23 | 79.26 | 84.86 |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 2.3% | 2.5% | 0.4% | — | — | — | — | — | — | — | 1.2% |
| 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 | — | $47M | $46M | $45M | $44M | $43M | $40M | $34M | $32M | $30M | $30M |
Persistent negative operating margins
Based on current market data, PROS trades at a P/S multiple of 3.40, which appears to reflect a complexity discount compared to broader SaaS peers, potentially underestimating the long-term value of its specialized algorithmic pricing engines within the airline and industrial sectors.
The forward P/E of 27.57 suggests that investors are pricing in a transition toward sustained profitability, yet the negative TTM P/E highlights the market's skepticism regarding the timeline for achieving GAAP earnings. This valuation gap warrants further investigation into whether the company's specialized niche justifies a premium or if the current multiple is appropriate given the persistent operational losses.
As reported in recent financial statements, the company's ROIC has fluctuated significantly, reaching -2.7% in 2025Q3, which indicates that PROS is currently failing to generate returns on invested capital that exceed its cost of capital, a trend that has persisted over the last ten quarters.
The negative ROIC trend suggests that the company's heavy investment in R&D and specialized sales infrastructure has yet to yield the expected compounding returns. Investors should monitor whether the recent stabilization in airline capacity can drive the necessary operating leverage to turn these returns positive in the coming fiscal years.
According to quarterly data, the company's DSO remains elevated at 247 days in 2025Q3, which suggests that PROS faces significant challenges in converting its service-heavy revenue streams into cash, a structural hurdle that distinguishes it from more efficient, pure-play SaaS competitors in the broader technology sector.
The high DSO reflects the complex, milestone-based nature of professional services implementations, which often delay cash collection compared to standard subscription models. This inefficiency in working capital management may continue to constrain liquidity until the revenue mix shifts more decisively toward higher-margin, self-service software modules.
Based on reported figures, the current ratio has improved to 1.56 in 2025Q3, providing a more stable liquidity buffer than the 0.84 observed in 2023Q2, which suggests that the firm is better positioned to manage its short-term obligations despite ongoing negative net margins.
While the improvement in the current ratio is encouraging, the company's reliance on external financing remains a point of concern given the lack of consistent GAAP profitability. The current liquidity position appears adequate for near-term operations, but any significant disruption in the airline sector could quickly stress these resources.
The most commonly misapplied metric for PROS is the standard P/E ratio, which obscures the company's true earning power by failing to account for the significant non-cash impact of stock-based compensation and the ongoing transition from legacy maintenance revenue to a modern SaaS subscription model.
Analysts should instead focus on metrics like Free Cash Flow margin and Deferred Revenue growth, which provide a clearer picture of the company's underlying cash generation and future demand. Relying on GAAP earnings in this context may lead to an overly pessimistic assessment of the firm's long-term viability.
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Quick answers to the most common questions about buying PRO stock.
PROS Holdings, Inc.'s current P/E ratio is -54.1x. The historical average is 55.9x.
Based on historical data, PROS Holdings, Inc. is trading at a P/E of -54.1x. Compare with industry peers and growth rates for a complete picture.
PROS Holdings, Inc. has 65.7% gross margin and -5.8% operating margin.