Latest Ratios: P/E Ratio -4.9x · EV/EBITDA N/A · ROE -132.7%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $70M | $71M | $56M | — | — |
| Enterprise Value | $53M | $54M | $54M | — | — |
| P/E Ratio → | -4.94 | — | — | — | — |
| P/S Ratio | 115.28 | 117.16 | 25.66 | — | — |
| P/B Ratio | 4.00 | 4.01 | 14.37 | — | — |
| 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 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| EV / Revenue | — | 89.81 | 25.06 | — | — |
| EV / EBITDA | — | — | — | — | — |
| 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 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Gross Margin | 33.3% | 33.3% | 41.8% | 33.9% | 45.1% |
| Operating Margin | -2260.6% | -2260.6% | -329.7% | -687.2% | -43.7% |
| Net Profit Margin | -2360.8% | -2360.8% | -342.5% | -688.1% | -44.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -132.7% | -132.7% | -262.9% | -289.9% | -19.7% |
| ROA | -119.0% | -119.0% | -177.3% | -164.7% | -12.0% |
| ROIC | -556.6% | -556.6% | -249.9% | -324.1% | — |
| ROCE | -125.1% | -125.1% | -235.7% | -257.4% | -17.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.17 | 0.37 | 0.14 |
| Debt / EBITDA | — | — | — | — | — |
| Net Debt / Equity | — | -0.94 | -0.34 | -0.03 | -0.54 |
| Net Debt / EBITDA | — | — | — | — | — |
| Debt / FCF | — | — | — | — | -1.31 |
| Interest Coverage | -1115.09 | -1115.09 | -23.24 | -766.55 | -103.84 |
Net cash position: cash ($17M) exceeds total debt ($202107)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 14.33 | 14.33 | 3.08 | 0.90 | 1.74 |
| Quick Ratio | 13.84 | 13.84 | 2.69 | 0.65 | 1.47 |
| Cash Ratio | 13.43 | 13.43 | 2.20 | 0.50 | 1.30 |
| Asset Turnover | — | 0.03 | 0.44 | 0.27 | 0.27 |
| Inventory Turnover | 0.66 | 0.66 | 3.69 | 1.69 | 1.74 |
| Days Sales Outstanding | — | 60.18 | 20.81 | 64.96 | 32.41 |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.9% | 0.9% | 0.0% | — | — |
| Total Shareholder Yield | 0.9% | 0.9% | 0.0% | — | — |
| Shares Outstanding | — | $17M | $15M | $14M | $7M |
Unsustainable Operating Loss Structure
According to current market data, SPAI trades at a price-to-sales multiple of 113.61, a valuation that appears disconnected from the company's recent 72% revenue contraction and suggests investors are pricing in a speculative technology turnaround rather than the reality of its current industrial manufacturing performance.
The extreme P/S ratio indicates that the market is assigning significant optionality to the company's AI-driven drone services, effectively ignoring the lack of current commercial traction. This valuation level warrants caution, as it implies a growth trajectory that is not supported by the company's historical revenue volatility or its inability to achieve consistent operating margins.
Based on reported financial statements, SPAI's ROIC has frequently plummeted into triple-digit negative territory, such as the -180.5% recorded in 2025Q3, reflecting a fundamental inability to generate returns on invested capital while the company continues to burn through its cash reserves to fund R&D.
The persistent decay in ROIC suggests that the capital deployed into the business is not currently creating value, but rather funding an overhead-heavy structure that lacks the necessary scale. Investors should monitor whether future capital allocation shifts toward high-margin software licensing, which would be required to reverse this trend of value destruction.
As reported in recent quarterly filings, SPAI's cash conversion cycle has shown extreme volatility, peaking at 562 days in 2023Q4, which highlights significant inefficiencies in managing inventory and receivables compared to more mature peers in the defense and aerospace manufacturing sector.
The erratic nature of the CCC suggests that the company struggles with the timing of its project-based revenue recognition and inventory procurement. This lack of operational rhythm complicates cash flow forecasting and indicates that the company has yet to establish a predictable working capital cycle required for sustainable growth.
According to the 2026Q1 balance sheet, SPAI maintains a current ratio of 13.28, a figure that appears deceptively strong due to the recent accumulation of cash rather than an improvement in the underlying operational ability to cover short-term liabilities through recurring revenue generation.
While the high liquidity ratio provides a temporary runway for survival, it is heavily skewed by the company's cash-heavy balance sheet and minimal debt. This liquidity position should not be mistaken for operational health, as the company remains vulnerable to continued cash burn if it fails to secure new, high-margin contracts.
The price-to-sales ratio is frequently misapplied to SPAI, as it obscures the company's transition from a hardware-centric model to a potential software-as-a-service provider, failing to account for the lumpy, project-based nature of current government contract revenue that distorts the denominator in the valuation calculation.
Using P/S to value SPAI ignores the fact that current revenue is likely non-recurring and highly volatile, making it a poor proxy for future earning power. Analysts should instead focus on the 'Award Pipeline' or 'Data Terabytes Processed' as more meaningful indicators of the company's potential to scale its high-margin AI analytics business.
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 SPAI stock.
Safe Pro Group Inc. Common Stock's current P/E ratio is -4.9x. This places it at the 50th percentile of its historical range.
Safe Pro Group Inc. Common Stock's return on equity (ROE) is -132.7%. The historical average is -176.3%.
Based on historical data, Safe Pro Group Inc. Common Stock is trading at a P/E of -4.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Safe Pro Group Inc. Common Stock has 33.3% gross margin and -2260.6% operating margin.