Latest Ratios: P/E Ratio -16.9x · EV/EBITDA N/A · ROE -21.7%. (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 | $1.4B | $1.2B | $1.2B | $1.5B | $2.4B | $4.5B | $3.8B | $1.6B | $1.4B | $636M | $438M |
| Enterprise Value | $1.2B | $1.1B | $1.1B | $1.4B | $2.3B | $4.3B | $3.7B | $1.5B | $1.3B | $623M | $430M |
| P/E Ratio → | -16.88 | — | — | 72.58 | 60.67 | 182.60 | 660.17 | 114.60 | 284.18 | — | — |
| P/S Ratio | 5.68 | 4.89 | 3.79 | 4.78 | 8.43 | 19.59 | 23.24 | 10.74 | 11.41 | 7.01 | 5.31 |
| P/B Ratio | 3.94 | 3.40 | 2.99 | 4.00 | 7.13 | 17.46 | 19.26 | 10.08 | 10.68 | 14.80 | 11.54 |
| P/FCF | — | — | — | — | 136.13 | 148.94 | 302.77 | 103.24 | 134.45 | 351.72 | — |
| P/OCF | — | — | 75.63 | 105.70 | 67.11 | 102.71 | 181.32 | 62.50 | 110.81 | 222.77 | 417.13 |
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 | — | 4.41 | 3.45 | 4.33 | 8.23 | 18.86 | 22.37 | 10.00 | 10.62 | 6.88 | 5.22 |
| EV / EBITDA | — | — | — | 42.00 | 48.47 | 117.57 | 370.76 | 96.57 | 145.29 | — | — |
| EV / EBIT | — | — | — | 49.66 | 53.46 | 130.41 | 540.28 | 126.71 | 199.57 | — | — |
| EV / FCF | — | — | — | — | 132.98 | 143.41 | 291.48 | 96.17 | 125.09 | 344.93 | — |
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 | 76.2% | 76.2% | 76.3% | 78.4% | 78.5% | 77.5% | 72.4% | 74.5% | 73.8% | 70.9% | 70.8% |
| Operating Margin | -19.2% | -19.2% | -4.0% | 8.7% | 15.4% | 14.5% | 4.1% | 7.9% | 5.3% | -4.0% | -15.4% |
| Net Profit Margin | -33.6% | -33.6% | -6.4% | 6.6% | 13.9% | 11.9% | 3.6% | 9.4% | 4.0% | -2.4% | -14.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -21.7% | -21.7% | -5.2% | 5.9% | 13.3% | 12.1% | 3.3% | 9.6% | 5.7% | -5.3% | -31.6% |
| ROA | -16.6% | -16.6% | -4.0% | 4.7% | 10.4% | 9.1% | 2.5% | 7.5% | 4.2% | -3.2% | -18.9% |
| ROIC | -13.2% | -13.2% | -3.6% | 8.1% | 17.7% | 34.1% | 9.7% | 21.3% | 15.3% | -8.9% | -31.2% |
| ROCE | -11.0% | -11.0% | -2.9% | 7.1% | 13.2% | 13.0% | 3.5% | 7.6% | 7.0% | -7.8% | -28.3% |
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 | 0.11 | 0.11 | 0.10 | 0.09 | 0.09 | 0.12 | 0.05 | 0.06 | 0.04 | 0.15 | 0.18 |
| Debt / EBITDA | — | — | — | 1.08 | 0.64 | 0.87 | 1.09 | 0.61 | 0.59 | — | — |
| Net Debt / Equity | — | -0.33 | -0.27 | -0.38 | -0.16 | -0.65 | -0.72 | -0.69 | -0.74 | -0.29 | -0.19 |
| Net Debt / EBITDA | — | — | — | -4.43 | -1.15 | -4.53 | -14.36 | -7.10 | -10.88 | — | — |
| Debt / FCF | — | — | — | — | -3.15 | -5.53 | -11.29 | -7.07 | -9.37 | -6.79 | — |
| Interest Coverage | — | — | — | — | — | 877.34 | — | — | — | -32.42 | -110.04 |
Net cash position: cash ($153M) exceeds total debt ($38M)
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 | 4.55 | 4.55 | 5.23 | 5.62 | 6.03 | 5.56 | 5.25 | 5.07 | 5.47 | 2.82 | 2.37 |
| Quick Ratio | 3.74 | 3.74 | 4.62 | 5.08 | 5.56 | 5.21 | 4.81 | 4.57 | 4.86 | 2.13 | 1.67 |
| Cash Ratio | 2.74 | 2.74 | 3.28 | 3.39 | 4.09 | 4.09 | 3.70 | 3.48 | 3.75 | 0.97 | 0.66 |
| Asset Turnover | — | 0.52 | 0.62 | 0.66 | 0.68 | 0.67 | 0.64 | 0.72 | 0.74 | 1.33 | 1.26 |
| Inventory Turnover | 1.03 | 1.03 | 1.72 | 1.99 | 2.53 | 3.00 | 2.49 | 2.23 | 1.94 | 1.98 | 1.62 |
| Days Sales Outstanding | — | 83.24 | 92.16 | 110.92 | 84.67 | 73.73 | 78.67 | 79.19 | 76.40 | 71.92 | 72.37 |
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 | — | — | — | 1.4% | 1.6% | 0.5% | 0.2% | 0.9% | 0.4% | — | — |
| FCF Yield | — | — | — | — | 0.7% | 0.7% | 0.3% | 1.0% | 0.7% | 0.3% | — |
| Buyback Yield | 0.5% | 0.6% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% |
| Total Shareholder Yield | 0.5% | 0.6% | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% |
| Shares Outstanding | — | $50M | $49M | $49M | $49M | $49M | $48M | $47M | $45M | $41M | $40M |
Geographic revenue concentration risk
According to current market data, STAA trades at a forward P/E of 41.09, a multiple that appears disconnected from recent negative earnings, suggesting investors are pricing in a rapid recovery in procedure volumes that may not be supported by the company's current operational trajectory.
The absence of a meaningful TTM P/E ratio highlights the company's current inability to generate consistent bottom-line results. Investors should monitor whether the 6.09 P/S multiple remains sustainable if the company fails to demonstrate a clear path back to profitability in the coming quarters.
Based on reported financial figures, STAA's ROIC has fluctuated significantly, dropping to -17.0% in 2025Q1 before recovering to 5.4% in 2026Q1, which indicates that the company is currently struggling to generate returns on invested capital that exceed its cost of capital during this growth phase.
The volatility in ROIC suggests that the company's capital allocation, particularly toward global sales expansion, has not yet yielded the expected compounding effect. This trend warrants further investigation into whether the current investment in surgeon training will eventually drive higher returns or if the cost base is structurally too high.
As reported in recent financial statements, STAA's cash conversion cycle has expanded to 217 days in 2026Q1, driven largely by an elevated days inventory outstanding of 184 days, which suggests that the company is facing challenges in matching its inventory levels to actual surgical demand.
The significant increase in DIO compared to historical levels may indicate potential obsolescence risks or channel inventory buildup in key markets. Investors should monitor whether these working capital inefficiencies are temporary or if they reflect a structural difficulty in managing the consignment model across diverse global geographies.
Based on the latest 2026Q1 balance sheet, STAA maintains a current ratio of 5.12 and a quick ratio of 4.31, providing a substantial liquidity cushion that appears sufficient to absorb the ongoing cash burn observed in recent quarters as the company attempts to scale its global ICL adoption.
The company's ability to maintain such high liquidity despite negative operating margins suggests a conservative approach to capital preservation. While this provides a significant margin of safety, it also raises questions about whether the company is deploying its cash effectively to capture market share.
The most commonly misapplied ratio for STAA is the P/E multiple, which obscures the company's true earning power by failing to account for the heavy, non-recurring investments in global sales infrastructure and the significant impact of stock-based compensation on reported net income.
Analysts should instead focus on EV/Sales or adjusted EBITDA metrics to better understand the underlying operational performance. Relying on P/E in a period of aggressive growth investment and negative margins may lead to an inaccurate assessment of the company's valuation relative to its long-term potential.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying STAA stock.
STAAR Surgical Company's current P/E ratio is -16.9x. The historical average is 74.9x.
STAAR Surgical Company's return on equity (ROE) is -21.7%. The historical average is -13.5%.
Based on historical data, STAAR Surgical Company is trading at a P/E of -16.9x. Compare with industry peers and growth rates for a complete picture.
STAAR Surgical Company has 76.2% gross margin and -19.2% operating margin.