Latest Ratios: P/E Ratio 16.7x · EV/EBITDA 18.7x · ROE 15.2%. (1997–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.3B | $1.7B | $1.8B | $2.3B | $1.5B | $2.6B | $3.4B | $2.2B | $4.1B | $1.9B | $2.3B |
| Enterprise Value | $1.9B | $1.3B | $1.4B | $2.0B | $1.0B | $2.0B | $2.9B | $1.5B | $3.0B | $1.9B | $2.3B |
| P/E Ratio → | 16.70 | 11.79 | — | 202.94 | — | — | — | — | 3.98 | 78.31 | 569.40 |
| P/S Ratio | 2.78 | 2.07 | 2.36 | 3.55 | 2.44 | 4.82 | 7.76 | 5.86 | 14.33 | 2.02 | 2.58 |
| P/B Ratio | 2.45 | 1.73 | 1.85 | 2.47 | 1.57 | 2.40 | 3.18 | 2.05 | 3.08 | 2.47 | 3.08 |
| P/FCF | 13.47 | 10.03 | 11.38 | 22.71 | 41.40 | 34.66 | — | — | — | 34.14 | 42.60 |
| P/OCF | 13.36 | 9.95 | 11.30 | 21.81 | 36.52 | 32.67 | — | — | — | 16.51 | 19.63 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.64 | 1.85 | 3.11 | 1.74 | 3.80 | 6.50 | 4.03 | 10.62 | 2.11 | 2.65 |
| EV / EBITDA | 18.73 | 13.07 | 61.14 | 89.41 | — | — | — | — | — | 31.26 | 23.70 |
| EV / EBIT | 21.56 | 15.05 | 60.08 | 58.87 | — | — | — | — | — | — | — |
| EV / FCF | — | 7.94 | 8.94 | 19.85 | 29.53 | 27.34 | — | — | — | 35.75 | 43.70 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.7% | 70.7% | 71.0% | 72.8% | 71.5% | 72.1% | 67.5% | 59.9% | 57.7% | 49.2% | 45.7% |
| Operating Margin | 10.9% | 10.9% | 0.7% | 1.7% | -21.1% | -12.4% | -27.2% | -47.5% | -69.4% | 1.2% | 1.8% |
| Net Profit Margin | 18.0% | 18.0% | -0.1% | 1.8% | -19.9% | -6.4% | -20.4% | -32.7% | 360.1% | 2.6% | 0.5% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.2% | 15.2% | -0.1% | 1.3% | -11.9% | -3.2% | -8.3% | -10.3% | 98.9% | 3.2% | 0.6% |
| ROA | 11.4% | 11.4% | -0.1% | 1.0% | -9.5% | -2.6% | -7.0% | -9.0% | 76.7% | 1.9% | 0.3% |
| ROIC | 11.1% | 11.1% | 0.7% | 1.5% | -18.3% | -9.4% | -19.8% | -41.1% | -26.9% | 1.0% | 1.6% |
| ROCE | 8.7% | 8.7% | 0.5% | 1.1% | -11.7% | -5.8% | -10.7% | -14.4% | -16.5% | 1.0% | 1.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.04 | 0.04 | 0.05 | 0.06 | 0.01 | 0.02 | — | 0.31 | 0.31 |
| Debt / EBITDA | 0.29 | 0.29 | 1.60 | 1.84 | — | — | — | — | — | 3.70 | 2.33 |
| Net Debt / Equity | — | -0.36 | -0.40 | -0.31 | -0.45 | -0.51 | -0.52 | -0.64 | -0.80 | 0.12 | 0.08 |
| Net Debt / EBITDA | -3.44 | -3.44 | -16.68 | -12.86 | — | — | — | — | — | 1.41 | 0.60 |
| Debt / FCF | — | -2.09 | -2.44 | -2.86 | -11.87 | -7.32 | — | — | — | 1.61 | 1.10 |
| Interest Coverage | — | — | 136.15 | 79.81 | -323.74 | — | — | — | — | -12.91 | -17.17 |
Net cash position: cash ($380M) exceeds total debt ($30M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.47 | 2.47 | 2.65 | 2.78 | 4.09 | 4.42 | 5.00 | 5.55 | 12.53 | 2.02 | 1.60 |
| Quick Ratio | 2.47 | 2.47 | 2.65 | 2.78 | 4.09 | 4.42 | 5.00 | 5.55 | 12.53 | 2.02 | 1.60 |
| Cash Ratio | 1.46 | 1.46 | 1.70 | 1.70 | 2.84 | 3.29 | 3.51 | 4.45 | 11.16 | 0.80 | 0.74 |
| Asset Turnover | — | 0.63 | 0.59 | 0.54 | 0.51 | 0.40 | 0.34 | 0.29 | 0.19 | 0.76 | 0.71 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 100.22 | 95.89 | 110.02 | 113.97 | 123.38 | 155.74 | 133.08 | 136.19 | 24.68 | 63.80 |
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 2026 | 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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.0% | 8.5% | — | 0.5% | — | — | — | — | 25.1% | 1.3% | 0.2% |
| FCF Yield | 7.4% | 10.0% | 8.8% | 4.4% | 2.4% | 2.9% | — | — | — | 2.9% | 2.3% |
| Buyback Yield | 8.6% | 11.6% | 5.8% | 2.6% | 10.3% | 2.3% | 1.2% | 8.2% | 14.1% | 4.8% | 1.3% |
| Total Shareholder Yield | 8.6% | 11.6% | 5.8% | 2.6% | 10.3% | 2.3% | 1.2% | 8.2% | 14.1% | 4.8% | 1.3% |
| Shares Outstanding | — | $63M | $67M | $68M | $66M | $68M | $66M | $68M | $75M | $82M | $80M |
Regulatory and cookie deprecation
According to recent market data, LiveRamp trades at a P/S multiple of 2.79, which appears to discount the company's potential as a neutral data infrastructure utility while simultaneously pricing in the decelerating growth trajectory observed in recent quarterly filings compared to higher-multiple ad-tech peers.
The current forward EV/EBITDA of 6.28 suggests that investors are cautious about the sustainability of recent margin expansion, likely fearing that the company's transition to a platform-based model may face cyclical headwinds. This valuation implies a market skepticism regarding whether LiveRamp can successfully decouple its revenue growth from the broader, more volatile digital advertising spend cycle.
Based on reported figures, LiveRamp's ROIC has struggled to maintain momentum, fluctuating between -1.4% and 4.8% over the last ten quarters, which suggests that the company is still in the process of optimizing its asset base to generate consistent returns on invested capital.
The low ROIC relative to the company's cost of capital indicates that recent investments in data collaboration technology have yet to yield the expected compounding effect on shareholder value. Investors should monitor whether the integration of recent acquisitions can improve these returns or if the capital-intensive nature of the identity graph continues to dilute overall efficiency.
As reported in financial statements, the company's DSO has remained relatively sticky near 99 days, suggesting that despite the shift toward a SaaS-based subscription model, the underlying collection cycle remains elongated compared to more efficient software-as-a-service peers in the broader technology sector.
The high DPO, which has trended toward 188 days, implies that LiveRamp is effectively utilizing its supplier relationships to manage cash flow, potentially masking underlying operational inefficiencies. This reliance on extended payment terms warrants further investigation to determine if it reflects structural leverage over vendors or a necessary response to the company's own cash conversion challenges.
Based on the provided quarterly data, LiveRamp maintains a current ratio of 2.47 as of 2026Q4, which provides a substantial liquidity cushion that appears more than sufficient to navigate potential regulatory disruptions or shifts in the digital advertising landscape without requiring external financing.
This strong liquidity position is a critical defensive feature, especially given the company's sensitivity to browser-level privacy changes that could impact its core identity resolution products. The ability to self-fund operations and R&D while maintaining such a ratio suggests a conservative balance sheet management style that prioritizes stability over aggressive leverage-driven growth.
Investors frequently misapply the P/E ratio to LiveRamp, which obscures the company's true earning power by failing to account for the significant impact of stock-based compensation and the lumpy nature of multi-year contract renewals inherent in its evolving data infrastructure business model.
Instead of relying on GAAP P/E, analysts should focus on FCF margins and adjusted EBITDA, as these metrics better reflect the company's ability to generate cash from its core identity resolution services. Using traditional ad-tech valuation multiples risks mispricing the firm's transition toward a more stable, utility-like data governance role.
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Quick answers to the most common questions about buying RAMP stock.
LiveRamp Holdings, Inc.'s current P/E ratio is 16.7x. The historical average is 32.7x. This places it at the 27th percentile of its historical range.
LiveRamp Holdings, Inc.'s current EV/EBITDA is 18.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.4x.
LiveRamp Holdings, Inc.'s return on equity (ROE) is 15.2%. The historical average is 7.0%.
Based on historical data, LiveRamp Holdings, Inc. is trading at a P/E of 16.7x. This is at the 27th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
LiveRamp Holdings, Inc. has 70.7% gross margin and 10.9% operating margin. Operating margin between 10-20% is typical for established companies.
LiveRamp Holdings, Inc.'s Debt/EBITDA ratio is 0.3x, indicating low leverage. A ratio below 2x is generally considered financially healthy.