Latest Ratios: P/E Ratio -19.7x · EV/EBITDA N/A · ROE -9.4%. (1995–2025 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 | $226M | $84M | $98M | $121M | $286M | $360M | $300M | $252M | $268M | $533M | $306M |
| Enterprise Value | $201M | $59M | $53M | $80M | $264M | $339M | $289M | $239M | $241M | $516M | $294M |
| P/E Ratio → | -19.69 | — | — | — | 15.67 | 34.17 | 52.31 | 24.64 | 18.29 | 24.51 | 23.21 |
| P/S Ratio | 3.65 | 1.35 | 1.69 | 0.98 | 1.90 | 2.80 | 2.79 | 2.39 | 2.00 | 4.24 | 3.04 |
| P/B Ratio | 1.92 | 0.71 | 0.77 | 0.82 | 1.60 | 2.27 | 1.93 | 1.55 | 1.69 | 3.79 | 2.52 |
| P/FCF | — | — | 5.66 | 3.94 | — | — | 91.82 | 9.96 | 6.03 | — | — |
| P/OCF | — | — | 5.37 | 3.80 | — | 333.26 | 60.43 | 9.42 | 5.86 | 378.53 | — |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.96 | 0.92 | 0.65 | 1.75 | 2.64 | 2.69 | 2.27 | 1.80 | 4.10 | 2.93 |
| EV / EBITDA | — | — | — | — | 11.80 | 21.91 | 33.47 | 19.59 | 12.07 | 17.65 | 14.91 |
| EV / EBIT | — | — | — | — | 11.73 | 26.21 | 46.24 | 23.42 | 14.46 | 24.82 | 18.95 |
| EV / FCF | — | — | 3.07 | 2.60 | — | — | 88.57 | 9.46 | 5.43 | — | — |
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 | 30.6% | 30.6% | 28.6% | 23.1% | 34.5% | 34.6% | 31.4% | 34.3% | 31.4% | 36.5% | 38.4% |
| Operating Margin | -19.8% | -19.8% | -22.8% | -23.1% | 13.2% | 10.2% | 5.8% | 9.7% | 12.4% | 20.2% | 15.8% |
| Net Profit Margin | -18.5% | -18.5% | -23.6% | -21.3% | 12.2% | 8.2% | 5.3% | 9.7% | 10.9% | 17.3% | 13.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -9.4% | -9.4% | -9.9% | -16.1% | 10.8% | 6.7% | 3.6% | 6.4% | 9.8% | 16.6% | 11.2% |
| ROA | -7.6% | -7.6% | -8.6% | -13.8% | 8.4% | 5.1% | 2.9% | 5.4% | 8.5% | 14.1% | 9.2% |
| ROIC | -10.5% | -10.5% | -10.5% | -16.3% | 10.1% | 6.9% | 3.2% | 5.4% | 9.8% | 16.4% | 11.6% |
| ROCE | -9.4% | -9.4% | -9.2% | -16.7% | 11.1% | 7.8% | 3.7% | 6.2% | 10.9% | 18.7% | 12.7% |
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 | 0.09 | 0.09 | 0.05 | 0.04 | 0.04 | 0.06 | 0.07 | 0.02 | — | — | — |
| Debt / EBITDA | — | — | — | — | 0.35 | 0.59 | 1.17 | 0.31 | — | — | — |
| Net Debt / Equity | — | -0.21 | -0.35 | -0.28 | -0.13 | -0.13 | -0.07 | -0.08 | -0.17 | -0.12 | -0.10 |
| Net Debt / EBITDA | — | — | — | — | -1.02 | -1.30 | -1.23 | -1.04 | -1.34 | -0.58 | -0.61 |
| Debt / FCF | — | — | -2.58 | -1.33 | — | — | -3.24 | -0.50 | -0.60 | — | — |
| Interest Coverage | — | — | -1027.82 | -69.18 | 303.57 | 269.85 | 36.54 | 69.01 | 179.04 | 190.68 | 127.02 |
Net cash position: cash ($35M) exceeds total debt ($11M)
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 | 4.11 | 4.11 | 8.60 | 10.49 | 5.67 | 2.96 | 4.64 | 4.19 | 4.83 | 6.48 | 5.75 |
| Quick Ratio | 2.23 | 2.23 | 5.88 | 6.48 | 2.42 | 1.46 | 3.02 | 2.81 | 2.86 | 3.78 | 3.29 |
| Cash Ratio | 1.74 | 1.74 | 4.78 | 4.27 | 1.28 | 0.75 | 2.07 | 1.67 | 1.32 | 1.30 | 1.57 |
| Asset Turnover | — | 0.41 | 0.39 | 0.74 | 0.70 | 0.58 | 0.55 | 0.54 | 0.73 | 0.77 | 0.69 |
| Inventory Turnover | 0.83 | 0.83 | 1.01 | 1.85 | 1.12 | 1.11 | 1.55 | 1.89 | 2.16 | 1.55 | 1.40 |
| Days Sales Outstanding | — | 78.57 | 95.93 | 81.53 | 71.56 | 98.63 | 73.61 | 98.99 | 74.12 | 133.88 | 112.16 |
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 | — | — | — | — | — | — | — | — | 2.8% | 1.4% | 2.4% |
| Payout Ratio | — | — | — | — | — | — | — | — | 50.4% | 34.0% | 55.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 6.4% | 2.9% | 1.9% | 4.1% | 5.5% | 4.1% | 4.3% |
| FCF Yield | — | — | 17.7% | 25.4% | — | — | 1.1% | 10.0% | 16.6% | — | — |
| Buyback Yield | 0.7% | 2.0% | 10.1% | 7.7% | 1.2% | 4.0% | 5.6% | 3.2% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.7% | 2.0% | 10.1% | 7.7% | 1.2% | 4.0% | 5.6% | 3.2% | 2.8% | 1.4% | 2.4% |
| Shares Outstanding | — | $6M | $6M | $7M | $7M | $7M | $7M | $8M | $8M | $8M | $7M |
Persistent Operating Margin Deficit
Based on recent market data, Silicom trades at a price-to-sales multiple of 3.79, which appears to prioritize the company's remaining cash-rich balance sheet over its current negative earnings profile, suggesting that investors are pricing the stock more as a liquidation play than a growth-oriented technology enterprise.
The negative P/E ratio of -20.45 highlights the absence of immediate earnings power, rendering traditional valuation metrics largely ineffective for assessing the company's intrinsic value. Investors should monitor whether the current valuation floor holds as the company continues to consume its cash reserves to fund ongoing operational deficits.
According to historical financial statements, Silicom's ROIC has trended into negative territory, reaching -2.3% in 2025Q4, which indicates that the company is currently failing to generate a return on its invested capital that exceeds its cost of capital, marking a significant reversal from previous periods of profitability.
The consistent decay in ROIC suggests that the company's R&D and capital investments are not currently yielding the expected competitive advantages or revenue growth. This trend warrants further investigation into whether the current capital allocation strategy is sustainable or if it requires a fundamental pivot to restore shareholder value.
As reported in recent quarterly filings, Silicom's cash conversion cycle has remained elevated at 376 days in 2025Q4, primarily driven by an exceptionally high days inventory outstanding figure of 378 days, which suggests significant inefficiencies in managing hardware inventory levels relative to current customer demand.
The prolonged inventory turnover period indicates a potential risk of product obsolescence, especially given the rapid evolution of networking standards. This inefficiency in working capital management places additional strain on the company's liquidity, as capital remains tied up in hardware that is not moving through the sales channel.
Based on the latest balance sheet data, Silicom maintains a current ratio of 4.11, which appears technically robust, yet the underlying cash position has steadily declined from $61.1 million in 2024Q1 to $35.2 million in 2025Q4, signaling a gradual depletion of the company's primary financial safety net.
While the high current ratio provides a temporary cushion against immediate insolvency, the persistent burn rate suggests that the company's liquidity position is becoming increasingly vulnerable. Investors should monitor the rate of cash consumption closely, as the current trajectory may necessitate a change in capital allocation or operational strategy.
Data from recent financial reports indicates that the price-to-earnings ratio is the most commonly misapplied metric for Silicom, as it fails to account for the company's significant cash-to-market-cap ratio and the lumpy, project-based nature of its revenue recognition which often obscures underlying operational performance.
Using P/E to evaluate a company in a negative earnings cycle ignores the value of the cash on the balance sheet, which acts as a critical buffer for the business. Analysts should instead focus on enterprise value-based multiples or cash-burn analysis to better understand the company's true risk-reward profile in the current networking hardware environment.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SILC stock.
Silicom Ltd.'s current P/E ratio is -19.7x. The historical average is 21.1x.
Silicom Ltd.'s return on equity (ROE) is -9.4%. The historical average is 5.7%.
Based on historical data, Silicom Ltd. is trading at a P/E of -19.7x. Compare with industry peers and growth rates for a complete picture.
Silicom Ltd. has 30.6% gross margin and -19.8% operating margin.