Latest Ratios: P/E Ratio -0.0x · EV/EBITDA N/A · ROE -4.5%. (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 | $248802 | $193610 | $44.7B | $29.0B | $52.5B | — | — | — |
| Enterprise Value | $13M | $12M | $44.7B | $29.0B | $52.5B | — | — | — |
| P/E Ratio → | -0.01 | — | — | 24200.00 | 15096.55 | — | — | — |
| P/S Ratio | 0.01 | 0.01 | 1473.66 | 1428.96 | 1952.36 | — | — | — |
| P/B Ratio | 0.00 | 0.01 | 1679.56 | 1437.48 | 2715.87 | — | — | — |
| P/FCF | — | — | — | 4824.05 | — | — | — | — |
| P/OCF | — | — | — | 4315.18 | — | — | — | — |
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 | — | 0.55 | 1473.81 | 1428.78 | 1952.50 | — | — | — |
| EV / EBITDA | — | — | — | 17603.52 | 12116.23 | — | — | — |
| EV / EBIT | — | — | — | 15260.25 | 12913.56 | — | — | — |
| EV / FCF | — | — | — | 4823.44 | — | — | — | — |
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 | 21.3% | 21.3% | 13.2% | 24.3% | 24.6% | 30.4% | 26.9% | 25.2% |
| Operating Margin | -6.4% | -6.4% | -5.2% | 3.7% | 15.1% | 18.7% | 16.3% | 10.0% |
| Net Profit Margin | -6.1% | -6.1% | -3.7% | 6.0% | 12.9% | 18.2% | 15.7% | 10.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -4.5% | -4.5% | -4.8% | 6.2% | 26.5% | 66.1% | 101.9% | 98.1% |
| ROA | -2.6% | -2.6% | -2.7% | 3.3% | 11.4% | 14.9% | 12.5% | 7.1% |
| ROIC | -2.8% | -2.8% | -4.9% | 2.8% | 17.3% | 18.9% | 14.4% | 7.8% |
| ROCE | -4.2% | -4.2% | -6.0% | 3.6% | 26.1% | 42.2% | 63.1% | 37.1% |
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 | 0.35 | 0.35 | 0.19 | 0.11 | 0.56 | 1.52 | 3.74 | 8.86 |
| Debt / EBITDA | — | — | — | 1.31 | 2.49 | 2.83 | 5.14 | 8.49 |
| Net Debt / Equity | — | 0.35 | 0.17 | -0.18 | 0.19 | 0.77 | 3.60 | 7.82 |
| Net Debt / EBITDA | — | — | — | -2.25 | 0.87 | 1.43 | 4.95 | 7.49 |
| Debt / FCF | — | — | — | -0.62 | — | 1.20 | — | 46.46 |
| Interest Coverage | -2.98 | -2.98 | -6.87 | 3.87 | 7.96 | 8.18 | 10.89 | 21.96 |
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 | 2.09 | 2.09 | 2.13 | 1.67 | 1.56 | 1.14 | 0.69 | 0.34 |
| Quick Ratio | 1.62 | 1.62 | 1.56 | 1.14 | 1.22 | 0.81 | 0.60 | 0.22 |
| Cash Ratio | 0.23 | 0.23 | 0.03 | 0.44 | 0.39 | 0.44 | 0.03 | 0.09 |
| Asset Turnover | — | 0.38 | 0.66 | 0.58 | 0.72 | 0.79 | 0.64 | 0.67 |
| Inventory Turnover | 1.85 | 1.85 | 2.98 | 2.18 | 3.26 | 3.31 | 6.11 | 5.35 |
| Days Sales Outstanding | — | 270.36 | 162.51 | 115.23 | 138.69 | 35.45 | 135.37 | 51.37 |
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 | — | — | — | 0.0% | 0.0% | — | — | — |
| FCF Yield | — | — | — | 0.0% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $5095 | $15M | $12M | $12M | $12M | $12M | $12M |
Critical liquidity and solvency
As reported in recent financial filings, RAYA trades at a price-to-sales multiple of 0.01, a valuation level that suggests the market is pricing the company as a distressed entity rather than a growth-oriented manufacturer, given the persistent negative earnings and significant revenue contraction observed over recent quarters.
The lack of meaningful P/E or EV/EBITDA multiples underscores the market's skepticism regarding the company's ability to return to profitability in the near term. Investors should monitor whether this valuation floor holds as the company attempts to navigate its current liquidity constraints and operational restructuring.
Based on the company's reported figures, ROIC has deteriorated from a peak of 16.1% in 2022Q2 to -1.8% in 2025Q4, indicating that the firm is currently failing to generate positive returns on its invested capital as it struggles with declining margins and inefficient asset utilization.
This sharp reversal in capital efficiency appears to be driven by the inability to maintain gross margins above the 20% threshold, which was previously achievable. The trend suggests that capital allocation decisions made during the expansion phase are now weighing heavily on the company's ability to generate value.
According to recent financial statements, RAYA's cash conversion cycle has expanded to 162 days in 2025Q4, a significant increase from the 21-day cycle seen in 2021Q4, which highlights a growing inefficiency in managing inventory and collecting receivables in a cooling demand environment for off-grid power products.
The ballooning days-in-inventory and days-sales-outstanding suggest that the company is struggling to move product through its distribution channels, potentially leading to inventory obsolescence risks. This inefficiency directly exacerbates the company's liquidity issues by tying up critical cash in slow-moving assets.
As indicated by the latest quarterly data, the current ratio of 2.09 masks a precarious cash position of only $184,856, which leaves the company with virtually no margin for error to meet short-term obligations or fund ongoing operations without immediate access to external capital or financing.
While the current ratio appears superficially healthy, the reliance on inventory and receivables to meet current liabilities is a major concern given the current revenue contraction. Investors should monitor the company's ability to convert these assets into cash before liquidity becomes a binding constraint on operations.
The current ratio is frequently misapplied to RAYA's business model, as it obscures the underlying liquidity risk by including potentially illiquid inventory and receivables that may not be readily convertible to cash, thereby overstating the company's actual ability to meet its immediate financial obligations in a downturn.
A more appropriate metric for this specific industrial profile would be the cash-to-current-liabilities ratio, which strips away the optimistic valuation of inventory. Relying on the standard current ratio may lead analysts to underestimate the severity of the company's current liquidity and solvency challenges.
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Quick answers to the most common questions about buying RAYA stock.
Erayak Power Solution Group Inc.'s current P/E ratio is -0.0x. This places it at the 50th percentile of its historical range.
Erayak Power Solution Group Inc.'s return on equity (ROE) is -4.5%. The historical average is 41.4%.
Based on historical data, Erayak Power Solution Group Inc. is trading at a P/E of -0.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Erayak Power Solution Group Inc. has 21.3% gross margin and -6.4% operating margin.