Latest Ratios: P/E Ratio -182.1x · EV/EBITDA 137.3x · ROE -0.7%. (1996–2025 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $245M | $110M | $162M | $250M | $192M | $112M | $54M | $65M | $126M | $78M | $68M |
| Enterprise Value | $211M | $76M | $141M | $228M | $159M | $71M | $27M | $23M | $66M | $22M | $7M |
| P/E Ratio → | -182.13 | — | 2664.29 | 13.17 | 10.68 | 65.77 | — | — | 33.59 | — | — |
| P/S Ratio | 1.17 | 0.53 | 0.83 | 0.95 | 0.85 | 0.63 | 0.35 | 0.39 | 0.77 | 0.57 | 0.48 |
| P/B Ratio | 1.33 | 0.70 | 1.03 | 1.57 | 1.41 | 0.92 | 0.46 | 0.53 | 0.93 | 0.59 | 0.48 |
| P/FCF | 31.63 | 14.22 | 65.41 | — | — | — | 368.95 | — | — | — | — |
| P/OCF | 23.21 | 10.43 | 24.90 | — | 100.27 | 134.12 | 28.20 | — | 42.76 | 42.89 | — |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.37 | 0.72 | 0.87 | 0.71 | 0.40 | 0.17 | 0.14 | 0.40 | 0.16 | 0.05 |
| EV / EBITDA | 137.26 | 49.67 | 29.82 | 7.95 | 8.20 | 11.18 | 15.66 | 8.39 | 10.36 | — | — |
| EV / EBIT | — | 29.10 | 897.58 | 9.10 | 10.10 | 30.63 | — | — | 17.04 | — | — |
| EV / FCF | — | 9.87 | 56.75 | — | — | — | 184.54 | — | — | — | — |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 31.0% | 31.0% | 28.3% | 31.9% | 31.9% | 33.2% | 31.9% | 31.0% | 33.7% | 32.1% | 31.6% |
| Operating Margin | -1.2% | -1.2% | 0.2% | 9.5% | 7.1% | 1.6% | -1.1% | -0.3% | 2.1% | -4.4% | -4.8% |
| Net Profit Margin | -0.5% | -0.5% | 0.0% | 8.5% | 8.0% | 0.9% | -1.2% | -4.4% | 2.3% | -5.1% | -4.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.7% | -0.7% | 0.0% | 15.1% | 13.9% | 1.4% | -1.5% | -5.7% | 2.9% | -5.1% | -4.5% |
| ROA | -0.6% | -0.6% | 0.0% | 11.8% | 10.7% | 1.1% | -1.2% | -4.6% | 2.4% | -4.3% | -3.8% |
| ROIC | -1.4% | -1.4% | 0.2% | 15.6% | 13.0% | 2.5% | -1.4% | -0.4% | 3.3% | -5.7% | -6.2% |
| ROCE | -1.5% | -1.5% | 0.3% | 16.7% | 12.1% | 2.4% | -1.3% | -0.3% | 2.5% | -4.3% | -4.5% |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | — | — | — | — |
| Debt / EBITDA | 1.48 | 1.48 | 0.58 | 0.09 | 0.16 | 0.38 | 1.98 | — | — | — | — |
| Net Debt / Equity | — | -0.21 | -0.14 | -0.14 | -0.24 | -0.34 | -0.23 | -0.34 | -0.45 | -0.42 | -0.43 |
| Net Debt / EBITDA | -21.85 | -21.85 | -4.55 | -0.79 | -1.67 | -6.47 | -15.65 | -15.27 | -9.53 | — | — |
| Debt / FCF | — | -4.34 | -8.66 | — | — | — | -184.41 | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($36M) exceeds total debt ($2M)
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.51 | 4.51 | 5.05 | 4.59 | 3.72 | 4.17 | 4.34 | 4.63 | 4.60 | 5.29 | 5.66 |
| Quick Ratio | 1.72 | 1.72 | 1.61 | 1.58 | 1.77 | 2.20 | 2.37 | 2.74 | 2.91 | 3.53 | 3.77 |
| Cash Ratio | 0.98 | 0.98 | 0.76 | 0.68 | 0.98 | 1.34 | 1.59 | 1.77 | 2.02 | 2.55 | 2.61 |
| Asset Turnover | — | 1.07 | 1.02 | 1.33 | 1.25 | 1.13 | 1.03 | 1.09 | 0.98 | 0.87 | 0.84 |
| Inventory Turnover | 1.40 | 1.40 | 1.28 | 1.62 | 1.90 | 1.86 | 1.85 | 2.16 | 2.13 | 2.18 | 2.14 |
| Days Sales Outstanding | — | 42.14 | 46.16 | 41.78 | 48.55 | 51.77 | 47.29 | 53.21 | 51.19 | 55.42 | 64.11 |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 1.6% | 3.1% | 2.1% | 1.3% | 1.7% | 2.8% | 5.7% | 4.7% | 2.4% | 3.9% | 4.5% |
| Payout Ratio | — | — | 5534.4% | 14.9% | 17.8% | 188.6% | — | — | 79.7% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 0.0% | 7.6% | 9.4% | 1.5% | — | — | 3.0% | — | — |
| FCF Yield | 3.2% | 7.0% | 1.5% | — | — | — | 0.3% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 7.4% |
| Total Shareholder Yield | 1.6% | 3.1% | 2.1% | 1.3% | 1.7% | 2.8% | 5.7% | 4.7% | 2.4% | 3.9% | 11.9% |
| Shares Outstanding | — | $12M | $15M | $14M | $14M | $13M | $13M | $13M | $13M | $13M | $13M |
Inventory obsolescence and liquidity
Based on current market data, RELL trades at a P/S of 1.22 and a forward P/E of 69.14, suggesting that investors are pricing the company as a legacy industrial distributor rather than a specialized healthcare technology manufacturer with proprietary intellectual property and high barriers to entry.
The valuation gap relative to pure-play medical technology peers implies that the market remains skeptical of the company's ability to successfully pivot its revenue mix toward higher-margin proprietary products. Investors should monitor whether the current forward earnings multiple is justified by the potential for margin expansion as the Healthcare and Green Energy segments scale.
As reported in recent financial statements, RELL's ROIC has struggled to maintain positive momentum, fluctuating between -1.1% and 1.3% over the last ten quarters, which indicates that the company is currently failing to generate returns that exceed its cost of capital during this investment-heavy transition phase.
The low ROIC reflects the heavy burden of maintaining specialized manufacturing infrastructure while simultaneously funding R&D for new product lines. This trend suggests that the company's capital allocation strategy is currently focused on long-term survival and market positioning rather than immediate shareholder value creation through capital compounding.
According to historical data, RELL's cash conversion cycle remains elevated, peaking at 320 days in 2024Q2 and currently sitting at 245 days, which highlights a significant inefficiency in inventory management and a reliance on holding deep stocks of specialized components to serve its captive replacement market.
The high days-inventory-outstanding (DIO) of 256 days suggests that the company is forced to carry substantial inventory to ensure availability for legacy customers, which ties up liquidity and increases the risk of obsolescence. This structural inefficiency appears to be a necessary trade-off for maintaining its 'last-man-standing' competitive advantage in vacuum technology.
Based on reported figures, RELL maintains a robust liquidity position with a current ratio of 4.49, providing a substantial buffer against operational volatility despite the company's recent struggles to maintain consistent positive operating margins in its core power and microwave technology segments.
The company's negligible debt-to-equity ratio of 0.01% offers significant financial flexibility, allowing it to weather cyclical downturns without the pressure of debt service obligations. This liquidity profile is a key defensive feature that protects the firm from insolvency risks, even if the current business model remains sensitive to industrial CAPEX cycles.
The most commonly misapplied metric for RELL is the standard inventory turnover ratio, which obscures the strategic necessity of holding long-lifecycle components to maintain the company's moat in the legacy vacuum tube and specialized power grid markets.
Analysts often penalize the company for high inventory levels, failing to recognize that this stock is a critical service component for customers who cannot source these parts elsewhere. Instead of traditional turnover, investors should evaluate the company based on the gross margin contribution of its proprietary manufactured products versus its third-party distribution revenue.
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Quick answers to the most common questions about buying RELL stock.
Richardson Electronics, Ltd.'s current P/E ratio is -182.1x. The historical average is 27.3x.
Richardson Electronics, Ltd.'s current EV/EBITDA is 137.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.1x.
Richardson Electronics, Ltd.'s return on equity (ROE) is -0.7%. The historical average is 3.9%.
Based on historical data, Richardson Electronics, Ltd. is trading at a P/E of -182.1x. Compare with industry peers and growth rates for a complete picture.
Richardson Electronics, Ltd.'s current dividend yield is 1.64%.
Richardson Electronics, Ltd. has 31.0% gross margin and -1.2% operating margin.
Richardson Electronics, Ltd.'s Debt/EBITDA ratio is 1.5x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.