Latest Ratios: P/E Ratio -241.0x · EV/EBITDA N/A · ROE -174.9%. (2021–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Market Cap | $914M | $4.8B | — | $117M | $60M |
| Enterprise Value | $910M | $4.8B | — | $117M | $59M |
| P/E Ratio → | -240.95 | — | — | 981.25 | — |
| P/S Ratio | 123.52 | 652.07 | — | — | — |
| P/B Ratio | 433.97 | 392.79 | — | 0.99 | 0.51 |
| P/FCF | — | — | — | — | — |
| P/OCF | — | — | — | — | — |
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 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| EV / Revenue | — | 651.48 | — | — | — |
| EV / EBITDA | — | — | — | — | 0.01 |
| EV / EBIT | — | — | — | — | — |
| EV / FCF | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | — | — |
| Operating Margin | -189.5% | -189.5% | -323.1% | — | — |
| Net Profit Margin | -290.4% | -290.4% | -410.1% | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| ROE | -174.9% | -174.9% | -37.6% | 0.0% | -339997.0% |
| ROA | -138.9% | -138.9% | -32.9% | 0.0% | -339423.5% |
| ROIC | -85.6% | -85.6% | -21.1% | -0.9% | -0.0% |
| ROCE | -112.6% | -112.6% | -28.2% | -1.2% | -0.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — |
| Net Debt / Equity | — | -0.35 | — | -0.00 | -0.01 |
| Net Debt / EBITDA | — | — | — | — | -0.00 |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | -347.57 | -347.57 | -274.17 | — | — |
Net cash position: cash ($4M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Current Ratio | 3.49 | 3.49 | 1.16 | 0.80 | 6.57 |
| Quick Ratio | 3.49 | 3.49 | 1.16 | 0.80 | 6.57 |
| Cash Ratio | 1.44 | 1.44 | 0.11 | 0.46 | 4.65 |
| Asset Turnover | — | 0.48 | 0.33 | — | — |
| Inventory Turnover | — | — | — | — | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 0.1% | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | — | — | 0.0% | 0.0% |
| Shares Outstanding | — | $201M | $6.3B | $12M | $6M |
Imminent SPAC Liquidation Risk
As reported in financial statements, SMAP's P/S ratio of 123.52 and negative P/E of -240.95 highlight the disconnect between market pricing and the entity's lack of commercial operations, suggesting that investors are valuing the vehicle based on speculative merger potential rather than any underlying fundamental earnings power.
The extreme valuation multiples are characteristic of a SPAC where the denominator is essentially non-operational interest income. Investors should monitor these metrics with caution, as they do not reflect traditional business performance but rather the market's fluctuating sentiment regarding the probability and quality of a future business combination.
Based on the provided financial data, the ROE has consistently trended into negative territory, reaching -18.6% in 2025Q3, which indicates that the entity is failing to generate any return on invested capital while it consumes its trust assets to fund ongoing administrative and regulatory search costs.
The inability to maintain positive returns on capital is a structural reality for a pre-merger SPAC, as the entity is designed to be a temporary repository for cash. The persistent decay in ROE suggests that the longer the search phase continues, the more value is destroyed for shareholders through the depletion of the trust.
According to recent SEC filings, the entity's asset turnover remains negligible at 0.12, reflecting the absence of commercial activity and the fact that the primary asset is a static trust account rather than productive capital deployed to generate revenue through standard operational cycles or customer engagement.
The lack of a meaningful cash conversion cycle or inventory management metrics underscores the entity's status as a non-operational shell. The efficiency ratios serve only to confirm that the entity is not currently engaged in any business activity that would require or benefit from working capital optimization.
As indicated by the current ratio of 2.02 in 2025Q3, the entity maintains a superficial liquidity buffer, yet the rapid depletion of cash reserves against recurring administrative expenses suggests that the company's ability to sustain its public listing is becoming increasingly precarious without an immediate capital infusion.
While the current ratio might appear adequate in isolation, it masks the reality that the entity has no reliable source of future cash inflows. Investors should monitor the cash burn rate closely, as the current trajectory suggests that the entity may face a liquidity crisis as it approaches its liquidation deadline.
The most commonly misapplied metric for this business model is the Net Margin, which obscures the fact that the entity is a non-operational vehicle where negative margins are a structural feature of the search phase rather than an indicator of poor management or operational failure.
Analysts should instead focus on the 'Cash Burn Rate' and 'Remaining Trust Balance' to assess the entity's viability. Using traditional profitability ratios like Net Margin or ROE for a SPAC is misleading because it treats the necessary costs of identifying a target as if they were failed operational expenses.
Includes 30+ ratios · 4 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 SMAP stock.
Amplify Small-Mid Cap Equity ETF's current P/E ratio is -241.0x. This places it at the 50th percentile of its historical range.
Amplify Small-Mid Cap Equity ETF's return on equity (ROE) is -174.9%. The historical average is -70.8%.
Based on historical data, Amplify Small-Mid Cap Equity ETF is trading at a P/E of -241.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Amplify Small-Mid Cap Equity ETF has 100.0% gross margin and -189.5% operating margin.