Latest Ratios: P/E Ratio -61.0x · EV/EBITDA N/A · ROE -19.4%. (2018–2025 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 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $480M | $803M | $879M | $285M | $187M | $660M | $94M | — | — |
| Enterprise Value | $421M | $743M | $856M | $270M | $176M | $631M | $73M | — | — |
| P/E Ratio → | -60.98 | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.24 | 0.41 | 0.70 | 0.41 | 0.49 | 5.43 | 5.67 | — | — |
| P/B Ratio | 9.59 | 15.56 | 27.36 | 7.69 | 8.35 | 24.46 | 4.52 | — | — |
| P/FCF | 7.41 | 12.38 | 18.44 | 14.81 | 40.79 | 175.18 | — | — | — |
| P/OCF | 7.29 | 12.17 | 18.05 | 14.34 | 31.21 | 167.53 | — | — | — |
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 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.38 | 0.68 | 0.39 | 0.46 | 5.19 | 4.40 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 11.46 | 17.95 | 14.05 | 38.45 | 167.50 | — | — | — |
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 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 8.3% | 8.3% | 9.1% | 9.1% | 8.4% | 9.1% | 13.0% | 12.5% | 15.5% |
| Operating Margin | -0.4% | -0.4% | -2.0% | -3.8% | -5.0% | -9.1% | -16.0% | -10.6% | -1.3% |
| Net Profit Margin | -0.4% | -0.4% | -2.1% | -4.0% | -5.4% | -10.1% | -26.9% | -18.0% | -1.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -19.4% | -19.4% | -76.7% | -92.4% | -83.3% | -51.6% | -100.6% | — | -33.1% |
| ROA | -7.6% | -7.6% | -35.1% | -50.8% | -49.1% | -39.9% | -39.9% | -740.3% | -31.8% |
| ROIC | -1591.2% | -1591.2% | -121.5% | -114.6% | -295.9% | — | — | -22.9% | — |
| ROCE | -20.3% | -20.3% | -72.6% | -86.7% | -76.2% | -45.3% | -25.4% | -1315.9% | -33.1% |
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 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 0.00 | 0.00 | 0.01 | — | 31.94 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.15 | -0.73 | -0.40 | -0.48 | -1.07 | -1.01 | — | 30.89 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -0.92 | -0.49 | -0.76 | -2.34 | -7.68 | — | — | — |
| Interest Coverage | -15.34 | -15.34 | -23.22 | -391.49 | -21.06 | -111.54 | -24.86 | -2.86 | — |
Net cash position: cash ($60M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.41 | 1.41 | 1.34 | 1.86 | 1.34 | 3.14 | 22.51 | 0.39 | 25.39 |
| Quick Ratio | 1.41 | 1.41 | 1.34 | 1.86 | 1.34 | 3.14 | 22.46 | 0.39 | 62.45 |
| Cash Ratio | 1.01 | 1.01 | 0.60 | 1.06 | 0.89 | 3.08 | 22.02 | 0.11 | 25.39 |
| Asset Turnover | — | 15.52 | 14.60 | 10.68 | 8.72 | 3.04 | 0.76 | 38.61 | 23.61 |
| Inventory Turnover | — | — | — | — | — | 2352.91 | 306.49 | — | — |
| 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 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | 13.5% | 8.1% | 5.4% | 6.8% | 2.5% | 0.6% | — | — | — |
| Buyback Yield | 8.2% | 4.9% | 4.1% | 1.0% | 4.3% | 1.9% | 0.0% | — | — |
| Total Shareholder Yield | 8.2% | 4.9% | 4.1% | 1.0% | 4.3% | 1.9% | 0.0% | — | — |
| Shares Outstanding | — | $220M | $191M | $178M | $178M | $179M | $102M | $140M | $140M |
Regulatory commission model disruption
Based on reported figures, REAX trades at a price-to-sales multiple of 0.20, which suggests that the market is heavily discounting the company's future earnings potential relative to its rapid top-line expansion and the inherent volatility of the residential real estate brokerage sector.
The current P/S ratio of 0.20 indicates that investors are pricing the firm as a low-margin service provider rather than a high-growth technology platform. This valuation appears to reflect significant skepticism regarding the company's ability to achieve sustainable profitability as it navigates a challenging interest rate environment and potential regulatory shifts.
As reported in financial statements, REAX's return on invested capital has fluctuated wildly, swinging from a peak of 35.2% in 2025Q2 to a low of -84.4% in 2024Q1, indicating that the company has yet to establish a stable mechanism for compounding shareholder capital.
The extreme variance in ROIC suggests that the company's profitability is highly sensitive to transaction volume and the timing of agent-related equity incentives. Investors should monitor whether the firm can stabilize these returns as it moves past its initial hyper-growth phase and focuses on operational maturity.
According to recent quarterly filings, REAX has maintained an asset turnover ratio ranging between 2.71 and 4.33, which highlights the company's ability to generate significant gross revenue from a relatively lean asset base, though this efficiency is largely offset by the high cost of agent commissions.
While the high asset turnover suggests a scalable model, the lack of meaningful operating leverage implies that the company is not yet converting this efficiency into bottom-line growth. The reliance on a variable-cost structure means that revenue gains are largely passed through to agents, limiting the potential for margin expansion.
Based on the company's reported figures, REAX maintains a current ratio of 1.50 as of 2026Q1, providing an adequate liquidity cushion to navigate near-term operational challenges despite the company's ongoing struggle to generate consistent, positive free cash flow in a volatile housing market.
The current ratio suggests that the firm is well-positioned to meet its short-term obligations, reducing the immediate risk of a liquidity crisis. However, the reliance on external capital to fund operations warrants further investigation into the long-term sustainability of this cash position if transaction volumes remain depressed.
As indicated by the company's reported figures, the most commonly misapplied metric for REAX is gross revenue, which fails to account for the fact that the vast majority of commission income is immediately paid out to agents, thereby obscuring the firm's true economic scale.
Analysts should prioritize net revenue or gross profit over top-line figures to better understand the capital available for corporate operations. Relying on gross revenue can lead to an overestimation of the company's market power and a misunderstanding of its actual margin profile in a competitive brokerage landscape.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying REAX stock.
The Real Brokerage Inc.'s current P/E ratio is -61.0x. This places it at the 50th percentile of its historical range.
The Real Brokerage Inc.'s return on equity (ROE) is -19.4%. The historical average is -65.3%.
Based on historical data, The Real Brokerage Inc. is trading at a P/E of -61.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
The Real Brokerage Inc. has 8.3% gross margin and -0.4% operating margin.