Latest Ratios: P/E Ratio -1.6x · EV/EBITDA N/A · ROE N/A. (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 | $16M | $44M | — | — | — | — | — | — |
| Enterprise Value | $25M | $53M | — | — | — | — | — | — |
| P/E Ratio → | -1.60 | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — |
| P/B Ratio | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -109.1% | 8.6% | — | — |
| ROA | -592.4% | -592.4% | -505.4% | -104.2% | -99.7% | 4.1% | -56.1% | -144.5% |
| ROIC | — | — | — | — | -83.8% | -1.9% | — | — |
| ROCE | — | — | — | — | -101.9% | -0.5% | -59.4% | -175.5% |
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 | — | — | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | — | -0.01 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | -0.17 | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | -27.17 | -27.17 | -148.90 | -15.16 | — | — | -155.17 | -339.69 |
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 | 0.02 | 0.02 | 0.12 | 0.04 | 0.19 | 48.96 | 17.41 | 5.13 |
| Quick Ratio | 0.02 | 0.02 | 0.12 | 0.04 | 0.19 | 48.96 | 17.41 | 5.13 |
| Cash Ratio | 0.02 | 0.02 | 0.01 | 0.03 | 0.19 | 29.71 | 17.22 | 4.73 |
| Asset Turnover | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — |
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% | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — | — | — | — |
| Shares Outstanding | — | $8M | $2M | $7M | $5M | $4M | $2M | $2M |
Imminent insolvency and dilution
As reported in financial statements, RAIN's TTM P/E of -1.61 reflects a company devoid of earnings power, rendering traditional utility valuation metrics like P/E or dividend yield entirely inapplicable to its current pre-commercial, venture-stage status within the renewable utility sector.
The absence of a positive P/E or dividend yield suggests that the market is pricing the company as a binary technological bet rather than a regulated utility. Investors should monitor the lack of forward-looking valuation multiples, which indicates that analysts cannot yet model a terminal value for the ionization technology.
Based on the latest quarterly filings, RAIN's equity has plummeted to a negative $14.3 million, a trend that highlights a severe capital structure imbalance where total liabilities significantly outweigh the company's ability to generate value through its proprietary ionization technology.
The lack of meaningful debt-to-capital ratios suggests that the company has exhausted its ability to access traditional credit markets. The negative equity position warrants further investigation, as it implies that the company is effectively insolvent and reliant on dilutive equity financing to sustain operations.
According to recent SEC filings, RAIN's operating margin of -174.6% in 2026Q1 underscores the company's failure to establish a cost-recovery mechanism, as the high fixed costs of ionization infrastructure remain entirely uncompensated by any recurring service revenue or regulatory rate-base support.
The extreme negative margins suggest that the company's business model is not currently viable without a fundamental shift toward commercial contract execution. The persistent operating losses indicate that the company is burning through its remaining cash to fund R&D rather than generating utility-grade returns.
As indicated by the company's financial trajectory, the most commonly misapplied metric is the P/E ratio, which obscures the reality that RAIN is a speculative venture-stage entity rather than a regulated utility with predictable, rate-base-driven earnings power.
Comparing RAIN to traditional utilities based on P/E or dividend yield is fundamentally flawed because the company lacks the regulatory compact that anchors utility valuations. Analysts should instead focus on cash burn rates and the probability of commercial contract success, as these are the true drivers of the company's survival.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying RAIN stock.
Rain Enhancement Technologies Holdco Inc's current P/E ratio is -1.6x. This places it at the 50th percentile of its historical range.
Based on historical data, Rain Enhancement Technologies Holdco Inc is trading at a P/E of -1.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.