Latest Ratios: P/E Ratio -6.4x · EV/EBITDA N/A · ROE -12.7%. (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 | $707M | $708M | $630M | $981M | $789M | $1.6B | $1.1B | $1.1B | $968M | $1.1B | $870M |
| Enterprise Value | $639M | $640M | $592M | $917M | $656M | $1.3B | $888M | $826M | $602M | $761M | $615M |
| P/E Ratio → | -6.41 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.28 | 1.29 | 1.10 | 1.56 | 1.21 | 2.56 | 2.18 | 1.73 | 1.46 | 1.58 | 1.29 |
| P/B Ratio | 0.79 | 0.84 | 0.79 | 1.11 | 0.82 | 1.63 | 1.50 | 0.95 | 0.85 | 0.93 | 0.77 |
| P/FCF | — | — | — | — | — | 171.32 | — | — | 24.88 | 27.77 | 58.58 |
| P/OCF | 46.72 | 46.77 | 80.49 | — | — | 43.39 | 40.93 | — | 15.19 | 17.07 | 14.03 |
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 | — | 1.16 | 1.03 | 1.46 | 1.01 | 2.18 | 1.70 | 1.30 | 0.91 | 1.14 | 0.92 |
| EV / EBITDA | — | — | — | — | 251.32 | — | — | 19.06 | 11.49 | 21.06 | 99.83 |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | 146.17 | — | — | 15.48 | 19.98 | 41.45 |
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 | 47.0% | 47.0% | 44.9% | 42.5% | 42.4% | 42.8% | 42.1% | 48.1% | 49.0% | 48.3% | 47.2% |
| Operating Margin | -10.7% | -10.7% | -15.0% | -14.0% | -8.8% | -13.0% | -87.6% | -1.2% | -1.3% | -4.6% | -12.9% |
| Net Profit Margin | -18.9% | -18.9% | -21.0% | -19.6% | -4.4% | -10.2% | -85.2% | -1.7% | -1.7% | -6.0% | -11.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -12.7% | -12.7% | -14.3% | -13.3% | -3.0% | -7.2% | -46.3% | -0.9% | -1.0% | -3.5% | -6.6% |
| ROA | -9.9% | -9.9% | -11.1% | -10.3% | -2.3% | -5.5% | -37.4% | -0.8% | -0.8% | -2.9% | -5.6% |
| ROIC | -5.8% | -5.8% | -8.2% | -8.0% | -5.5% | -9.6% | -49.0% | -0.7% | -0.8% | -2.7% | -7.2% |
| ROCE | -6.6% | -6.6% | -9.4% | -8.7% | -5.4% | -8.2% | -43.9% | -0.6% | -0.7% | -2.5% | -7.1% |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.04 | 0.02 | 0.02 | 0.02 | 0.03 | 0.02 | 0.02 | 0.03 | 0.02 |
| Debt / EBITDA | — | — | — | — | 6.83 | — | — | 0.50 | 0.52 | 0.89 | 4.22 |
| Net Debt / Equity | — | -0.08 | -0.05 | -0.07 | -0.14 | -0.24 | -0.33 | -0.23 | -0.32 | -0.26 | -0.22 |
| Net Debt / EBITDA | — | — | — | — | -50.82 | — | — | -6.27 | -6.98 | -8.21 | -41.26 |
| Debt / FCF | — | — | — | — | — | -25.15 | — | — | -9.41 | -7.79 | -17.13 |
| Interest Coverage | — | — | -31.45 | — | — | — | -10.31 | — | — | — | — |
Net cash position: cash ($95M) exceeds total debt ($27M)
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 | 3.57 | 3.57 | 3.07 | 3.17 | 3.32 | 3.80 | 4.24 | 4.12 | 3.89 | 3.77 | 3.36 |
| Quick Ratio | 2.68 | 2.68 | 1.99 | 2.08 | 2.40 | 3.19 | 3.24 | 3.07 | 3.19 | 3.06 | 2.65 |
| Cash Ratio | 1.50 | 1.50 | 0.90 | 0.92 | 1.56 | 2.39 | 2.26 | 2.01 | 2.25 | 2.06 | 1.77 |
| Asset Turnover | — | 0.51 | 0.56 | 0.55 | 0.52 | 0.48 | 0.53 | 0.46 | 0.48 | 0.48 | 0.49 |
| Inventory Turnover | 2.01 | 2.01 | 1.76 | 1.87 | 1.93 | 2.69 | 2.29 | 1.96 | 2.74 | 2.99 | 3.02 |
| Days Sales Outstanding | — | 106.29 | 97.54 | 100.04 | 81.09 | 77.77 | 74.33 | 76.07 | 76.03 | 76.39 | 65.36 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | 0.6% | — | — | 4.0% | 3.6% | 1.7% |
| Buyback Yield | 0.0% | 0.0% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $82M | $71M | $69M | $66M | $63M | $55M | $54M | $54M | $53M | $53M |
Persistent Operating Margin Deficit
Based on recent financial data, Stratasys trades at a price-to-sales multiple of 1.28, which appears to be heavily influenced by its historical takeover interest rather than fundamental earnings power, as evidenced by a negative trailing twelve-month price-to-earnings ratio of -6.38 and a forward P/E of 68.08.
The current valuation suggests that investors are pricing in a potential acquisition floor rather than standalone growth, given the disconnect between the forward P/E and the company's inability to generate consistent GAAP profits. This multiple warrants caution, as it implies a high expectation for future margin expansion that has yet to materialize in the operating results.
According to quarterly filings, Stratasys has struggled to generate positive returns on invested capital, with ROIC remaining negative at -2.3% in 2026Q1, a trend that highlights the company's ongoing difficulty in achieving a return profile that exceeds its cost of capital over the last ten quarters.
The persistent negative ROIC indicates that the capital deployed into R&D and acquisitions is not currently yielding sufficient incremental profit. This suggests that the company's competitive moat in aerospace materials is not yet translating into the operational scale required to drive efficient capital compounding.
As reported in recent financial statements, the company's cash conversion cycle has expanded to 222 days in 2026Q1, driven by high inventory days of 170, which suggests that Stratasys is facing significant challenges in optimizing its working capital relative to its industrial peers and historical performance.
The elevated inventory days appear to reflect the difficulty of managing a complex product mix of hardware and specialized consumables. This inefficiency ties up significant liquidity and may indicate that the company is carrying excess stock in anticipation of demand that has not yet materialized.
Based on the most recent quarterly data, Stratasys maintains a current ratio of 3.17, providing a substantial liquidity cushion that appears to insulate the company from immediate solvency risks despite the persistent negative operating margins observed throughout the last ten quarters of reported financial performance.
While the liquidity position is robust, it is largely a function of the company's conservative debt profile rather than operational cash generation. Investors should monitor whether this cash buffer continues to be eroded by ongoing operating losses or if it will be preserved for future strategic pivots.
Market participants frequently apply standard hardware P/S multiples to Stratasys, which obscures the value of its high-margin recurring consumables and software ecosystem, potentially leading to an undervaluation of the company's long-term durability if it successfully transitions its installed base toward end-use production applications.
Using a generic hardware multiple fails to account for the 'razor-and-blade' economics that define the company's competitive advantage. A more appropriate metric would be an adjusted EV/Gross Profit or a focus on the 'System Utilization Rate,' which better captures the recurring revenue potential of the installed base.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SSYS stock.
Stratasys Ltd.'s current P/E ratio is -6.4x. The historical average is 47.5x.
Stratasys Ltd.'s return on equity (ROE) is -12.7%. The historical average is -2.0%.
Based on historical data, Stratasys Ltd. is trading at a P/E of -6.4x. Compare with industry peers and growth rates for a complete picture.
Stratasys Ltd. has 47.0% gross margin and -10.7% operating margin.